Tenant’s Obligation to Restore. (a) If all or any part of any of the Project shall be destroyed or damaged in whole or in part by fire or other casualty (including any casualty for which insurance was not obtained or obtainable) of any kind or nature, ordinary or extraordinary, foreseen or unforeseen, Tenant shall give to the FCRHA immediate notice thereof, except that no notice or related approvals from the FCRHA shall be required if the cost of repairs, alterations, restorations, replacements and rebuilding (collectively, “Restoration”), as reasonably estimated by Tenant, will be less than Three Hundred Fifty Thousand Dollars ($350,000), as such amount is adjusted on the fifth (5th) anniversary of the Commencement Date and on each fifth (5th) anniversary of the Commencement Date thereafter occurring during the Term, by the percent increase, if any, in the Consumer Price Index for the month in which the applicable anniversary date occurs over the Consumer Price Index for the month in which the Commencement Date occurs (the “Threshold Amount”). Whether or not the foregoing notice requirement applies, Tenant shall, whether or not such damage or destruction shall have been insured, and whether or not insurance proceeds, if any, shall be sufficient for the purpose of such Restoration, with reasonable diligence (subject to Unavoidable Delays) repair, alter, restore, replace and rebuild (collectively, “Restore”) the same, at least to the extent of the value it would have had absent the casualty and as nearly as possible to the condition, quality and class of the Project existing immediately prior to such occurrence, with such changes or alterations as Tenant, with the consent of the FCRHA, may elect to make, provided that, after the Restoration, the Project shall be in substantial conformity with the original Plans and Specifications; with any changes as mutually agreed to by Tenant and the FCRHA, acting in their reasonable discretion. If Tenant shall fail or neglect to Restore with reasonable diligence (subject to Unavoidable Delays) the Project or the portion thereof so damaged or destroyed, or having so commenced such Restoration, shall fail to complete the same with reasonable diligence (subject to Unavoidable Delays) in accordance with the terms of this Lease, or if prior to the completion of any such Restoration by Tenant, this Lease shall expire or be terminated for any reason, the FCRHA may after written notice to Tenant and expiration of the cure periods applicable to such failure, b...
Tenant’s Obligation to Restore. To the extent that Restoration is possible at the time of a casualty:
Tenant’s Obligation to Restore. Following Tenant’s completion of construction as provided in Section 5.1, in the event of damage to, or destruction of, any Improvements by fire or other casualty, Tenant shall, to the extent of the insurance proceeds actually received by Tenant or a Permitted Mortgagee for such purpose, promptly repair, replace, restore, and reconstruct the same, all in compliance with the provisions of Section 8.2. If insurance proceeds are unavailable due solely to Tenant’s failure to pay the premiums applicable to the insurance coverage referred to in Section 7.1, then Tenant shall be obligated to promptly repair, replace, restore, and reconstruct the Improvements, all in compliance with the provisions of Section 8.2, notwithstanding the unavailability of insurance proceeds for such purpose. Notwithstanding the foregoing, in the event of destruction or damage involving more than seventy-five percent (75%) of the interior floor area of the Improvements which occurs at any time within the last twelve months of the Term, then Landlord, at its election exercisable by written notice to Tenant within thirty days following such destruction or damage, shall have the right to cancel this Lease effective as of the date of such fire or other casualty. In the event of a casualty loss where the Improvements will not be restored or replaced, the insurance proceeds shall be applied, (1) first, to pay the cost of razing the Improvements and leveling, cleaning and otherwise putting the Premises in good order, (2) second, to Landlord’s Financing Lender, (3) third, to the payment to Tenant for any of its improvements, and (4) fourth, to Landlord, to the extent of any remaining proceeds.
Tenant’s Obligation to Restore. In the event of damage to, or destruction of, any Improvements by fire or other casualty, Tenant shall, to the extent of the insurance proceeds actually received by Tenant or a Permitted Mortgagee for such purpose, promptly repair, replace, restore, and reconstruct the same, all in compliance with the provisions of Section
Tenant’s Obligation to Restore. Subject to Sections 8.3 and 8.4, if, at any time during the Term of this Lease, the Building or any part thereof shall be damaged or destroyed by fire or other casualty (including any casualty for which insurance coverage was not obtained or obtainable) of any kind or nature, ordinary or extraordinary, foreseen or unforeseen, Tenant shall promptly give Landlord notice of the same and, at Tenant's sole cost and expense, and whether or not the Casualty Proceeds, if any, shall be sufficient for the purpose, shall within ninety (90) days of the date of such damage or destruction commence (subject to a reasonable time allowance for Unavoidable Delays and the time required to adjust insurance claims with the insurance companies, provided that Tenant is diligently pursuing the adjustment of such insurance claims) to repair, restore, replace or rebuild the same as nearly as possible to its value, condition and character immediately prior to such damage or destruction, subject to such changes or alterations as Tenant may elect to make in conformity with the provisions of Article 9 (such repair, alteration, restoration, replacement or rebuilding, including temporary repairs for the protection of the Improvements or other property pending the completion thereof, are sometimes referred to in this Article 8 as "Restoration") and shall prosecute such Restoration to completion with diligence and continuity.
Tenant’s Obligation to Restore. If, at any time during the Extended Term, and any Extension Terms, as applicable, and Tenant has not exercised its options to terminate pursuant to Section 19.2, any part of the Leased Premises shall be damaged or destroyed by a Casualty, Tenant shall commence and thereafter proceed as promptly as possible to repair, restore and replace the damage to the Leased Premises as nearly as possible (subject to Force Majeure) to its condition immediately prior to such Casualty, to the extent permitted by Applicable Laws, at Tenant’s expense (the “Casualty Repair Work”) to the extent of available property insurance proceeds. All proceeds of policies of insurance for loss or damage to the Leased Premises as a result of a Casualty or other loss covered by such insurance shall be paid to Tenant subject to its restoration obligations hereunder. Such insurance proceeds shall be held by Tenant for the purposes of satisfying the cost of the Casualty Repair Work. If the Casualty Repair Work exceeds Ten Million and No/100 Dollars ($10,000,000.00), Landlord shall have the right to (i) approve, in reasonable discretion, the general contractor and lead architect, if any, selected by Xxxxxx to perform the Casualty Repair Work, (ii) approve, in Landlord’s reasonable discretion, the terms of the contracts with the general contractor and lead architect, if any, selected by Tenant to perform the Casualty Repair Work, (iii) approve, in Landlord’s reasonable discretion, all contracts requiring payment greater than Twenty Million and No/100 Dollars ($20,000,000.00) recommended by Tenant to be entered into for the Casualty Repair Work and (iv) engage an independent construction representative to review the Casualty Repair Work, which independent construction representative shall be at the sole cost of Landlord and the County and shall be selected by Landlord in its their sole discretion.
Tenant’s Obligation to Restore. If all or any portion of the Initial Improvements are damaged or destroyed by an event not constituting an Uninsured Casualty or Major Damage or Destruction for which Tenant elects to terminate this Lease under Section 12.4, then Tenant shall, subject to Section 12.4 hereof, within a reasonable period of time (allowing for securing necessary Regulatory Approvals), commence and diligently, subject to Force Majeure, Restore the Initial Improvements to the condition they were in immediately before such damage or destruction, to the extent possible in accordance with then applicable Laws (including, but not limited to, any required code upgrades), without regard to the amount or availability of insurance proceeds. All Restoration performed by Tenant shall be in accordance with the procedures set forth in Section 10 relating to Subsequent Construction and shall be at Tenant's sole expense. If insurance proceeds are available for such Restoration and Tenant is obligated under this Section 12.3 to Restore, or elects to Restore in accordance with the provisions of Section 12.4, then, subject to the rights of any Mortgagee under any Mortgage permitted in accordance with Section 36 hereunder, Tenant shall have the sole right to negotiate an insurance settlement for all claims related to the casualty, provided however, that Tenant shall use commercially reasonable efforts to insure that such settlement does not materially interfere with or delay Tenant's obligation and ability to pay Rent to Landlord or otherwise meet its obligations hereunder.
Tenant’s Obligation to Restore. In the event of a taking which does not result in the termination of this Lease, Tenant shall, at Tenant's expense and regardless whether any Award or Awards shall be sufficient for the purpose, proceed with due diligence to repair, alter and restore the remaining part of the Premises substantially to their former condition to the extent feasible and permitted by law to constitute a complete and tenantable Building. Upon the expiration of any temporary taking which did not result in a termination of this Lease, Tenant shall restore the Premises to their former condition as aforesaid.
Tenant’s Obligation to Restore. In the event of damage to or destruction of the Project or Project Site during the Lease Term (other than those parts of the Project or Alterations for which Landlord’s consent was not obtained), Tenant shall repair the same to a similar condition to that which existed prior to such damage or destruction, to the extent legally allowed, subject to this Section 21 below. Such damage or destruction shall not annul or void this Lease; however, Tenant shall be entitled to a proportionate reduction of Base Monthly Rent while repairs are being made, such proportionate reduction to be based upon the extent to which the repairs interfere with Tenant’s business in the Project Site, as reasonably determined by Landlord. In no event shall Landlord be required to replace or restore any part of the Project.
Tenant’s Obligation to Restore. Should the Improvements be wholly or partially damaged or destroyed by fire or other casualty, Tenant shall:
