DAMAGE OR DESTRUCTION definition

DAMAGE OR DESTRUCTION. If all or any portion of a Building or Parcel, other than Common Area, is damaged by fire or other casualty, the Owner of the Improvement shall either (i) restore the damaged Improvements or (ii) remove all damaged Improvements, including foundations, and leave the Parcel in a clean and safe condition. Any restoration under clause (i) preceding must be performed so that the Improvements are in substantially the same condition in which they existed prior to the damage, unless the Owner complies with the provisions of Article XI. Unless extended by the Board, the Owner must commence such work within one hundred eighty (180) days after the damage occurs and must complete the work within one (1) year thereafter.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

DAMAGE OR DESTRUCTION. The risk of loss of or damage to the Property by reason of any insured or uninsured casualty during the period up to and including the Closing Date shall be borne by Seller. In the event of any "material damage", as hereinafter defined, to or destruction of the Property or any portion thereof, Buyer may, at its option, by notice to Seller, given within ten (10) days after Buyer is notified of such material damage or destruction (but before the Closing): (i) unilaterally terminate this Agreement and the Deposit shall be immediately returned to Buyer, together with all interest earned thereon; or (ii) proceed under this Agreement with no reduction in the Purchase Price, receive any insurance proceeds due Seller as a result of such damage or destruction and assume responsibility for such repair. If the Property is not materially damaged, then Buyer shall not have the right to terminate this Agreement, but Seller shall, at its cost, repair the damage before the Closing in a manner reasonably satisfactory to Buyer, or, credit Buyer at Closing for the reasonable cost to complete the repair. (Seller and Buyer shall mutually agree as to the reasonable cost to complete the repair in this circumstance). For purposes of this SECTION 16.1, "material damage" and "materially damaged" means damage reasonably exceeding $200,000 to repair, as determined by an independent architect reasonably satisfactory to Seller and Buyer.

DAMAGE OR DESTRUCTION means the total or partial destruction of the Leased Premises from any cause, rendering the premises totally or partially inaccessible or unusable.

Examples of DAMAGE OR DESTRUCTION in a sentence

• IN THE EVENT OF LOSS, DAMAGE, OR DESTRUCTION OF ANY PROPERTY OF CUSTOMER OR THE STATE DUE TO THE NEGLIGENCE, MISCONDUCT, WRONGFUL ACT OR OMISSION ON THE PART OF THE VENDOR, ITS EMPLOYEES, AGENTS, REPRESENTATIVES, OR SUBCONTRACTORS, THE VENDOR SHALL PAY THE FULL COST OF EITHER REPAIR, RECONSTRUCTION, OR REPLACEMENT OF THE PROPERTY, AT THE CUSTOMER’S SOLE ELECTION.

• DAMAGE OR DESTRUCTION OF PREMISES In the event the premises are destroyed or becomes damaged to the extent that they are not fit for the use, time reserved will be terminated.

• EXCEPT FOR A BREACH OF ITS CONFIDENTIALITY OBLIGATIONS UNDER SECTION 16 OR ANY LIABILITY OSI MAY HAVE FOR PERSONAL INJURY OR DAMAGE OR DESTRUCTION OF REAL OR TANGIBLE PERSONAL PROPERTY OR LIABILITY RESULTING FROM OSI'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, OSI'S LIABILITY FOR DAMAGES FROM ANY CAUSE OF ACTION WHATSOEVER RELATING TO OSI'S AGREEMENT TO PROVIDE SUPPORT SHALL BE LIMITED TO THE AMOUNT PAID BY BISYS TO OSI FOR SUPPORT DURING THE PRECEDING TWELVE (12) MONTH PERIOD PURSUANT TO THE AGREEMENT.

• CENTURYLINK, ITS AFFILIATES, AGENTS AND CONTRACTORS (INCLUDING WITHOUT LIMITATION, ANY SERVICE PROVIDER PROVIDING SERVICES ASSOCIATED WITH ACCESS TO 911 EMERGENCY SERVICE) WILL NOT HAVE ANY LIABILITY WHATSOEVER FOR ANY PERSONAL INJURY TO OR DEATH OF ANY PERSON, FOR ANY LOSS, DAMAGE OR DESTRUCTION OF ANY PROPERTY RELATING TO THE USE, LACK OF ACCESS TO OR PROVISION OF, 911 EMERGENCY SERVICE.

• MBA UNDERTAKES NO DUTY TO EXERCISE CARE, NOR ASSUMES ANY RESPONSIBILITY FOR THE PROTECTION OF THE PROPERTY OF THE EXHIBITOR OR ITS REPRESENTATIVES, OR OF PROPERTY USED IN CONNECTION WITH THE EXHIBIT, FROM THEFT OR DAMAGE OR DESTRUCTION BY FIRE, ACCIDENT OR OTHER CAUSE.

• IN NO EVENT WILL EITHER PARTY OR ITS LICENSORS, SUPPLIERS OR SUBCONTRACTORS BE LIABLE FOR INCIDENTAL, CONSEQUENTIAL, SPECIAL OR INDIRECT DAMAGES, LOST BUSINESS PROFITS, OR LOSS, DAMAGE OR DESTRUCTION OF DATA, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, BREACH OF WARRANTY OR OTHERWISE, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF THE SAME.

• SUBRECIPIENT LIKEWISE COVENANTS AND AGREES TO AND DOES HEREBY INDEMNIFY AND HOLD HARMLESS CITY FROM AND AGAINST ANY AND ALL INJURY, DAMAGE, OR DESTRUCTION OF PROPERTY OF CITY, ARISING OUT OF OR IN CONNECTION WITH ALL ACTS OR OMISSIONS OF SUBRECIPIENT, ITS OFFICERS, MEMBERS, AGENTS, EMPLOYEES, CONTRACTORS, SUBCONTRACTORS, INVITEES, LICENSEES, AND PARTICIPANTS.

• Owner shall h DAMAGE OR DESTRUCTION In the event of damage to or destruction of the Property or any part thereof, Owner may at its election proceed to repair or rebuild.

• COMPANY’S LIABILITY, IF ANY, FOR LOSS, DAMAGE, OR DESTRUCTION TO PART OR ALL THE DEPOSITS STORED HEREUNDER SHALL BE EQUAL TO THE STATED VALUE OF THE EQUIPMENT, OBTAINED DIRECTLY FROM CLIENT, OR THE CLIENT’S PURCHASE ORDER ( HEREINAFTER “ASSUMED VALUE”).

• FURTHERMORE, TRANSMISSION PROVIDER SHALL NOT BE LIABLE TO INTERCONNECTION CUSTOMER UNDER ANY CIRCUMSTANCES, UNDER ANY THEORY OF LIABILITY AT LAW OR IN EQUITY, WHETHER SUCH LIABILITY IS KNOWN OR UNKNOWN AT THE TIME OF SIGNING THIS AGREEMENT, OR ANY TIME THEREAFTER, FOR ANY DEATH, BODILY INJURY, AND LOSS OF USE OR DAMAGE OR DESTRUCTION OF ANY PROPERTY OR ANY BUSINESS INTERRUPTION, TO A THIRD PARTY OR TO INTERCONNECTION CUSTOMER.

More Definitions of DAMAGE OR DESTRUCTION

DAMAGE OR DESTRUCTION. Notwithstanding anything to the contrary in the Lease Form, Landlord shall notify Tenant within thirty (30) days following any damage to or destruction of the Premises (or the Building if such damage or destruction interferes with Tenant's use of the Premises) the length of time Landlord reasonably estimates to be necessary for repair or restoration. Tenant shall have the right to terminate the Lease within fifteen (15) days following receipt of such notice if restoration or repair of the Premises will take more than one hundred eighty (180) days.

DAMAGE OR DESTRUCTION. Notwithstanding anything to the contrary in the Lease Form:

DAMAGE OR DESTRUCTION in the event of damages to the immovable or to the leased premises or to both, or in the event of their total or partial destruction caused by fire, lightning, storms or by any other accident or similar event, then: 14.5.1 the lease shall remain in force and shall not be cancelled, except as set out herein; 14.5.2 the LESSOR must undertake and finish, as soon as possible having regard to the circumstances, the requisite rebuilding and repair work, provided such work is performed as, how and when the LESSOR, at its sole discretion, shall determine, on the understanding that under no circumstances shall the LESSOR be obliged to either repair or rebuild the leased premises or the building in their original form, specifications or dimensions, and provided the building is rebuilt or repaired in compliance with applicable standards then in force for buildings comparable in size and nature to the building that is being rebuilt or repaired; 14.5.3 upon receipt of the notice from the LESSOR indicating that it has completed the rebuilding or repair work which it was obliged to perform, the LESSEE must immediately undertake and promptly complete the repair and rebuilding of the leased premises and must immediately thereafter start carrying on its business again in the leased premises; 14.5.4 the LESSEE is not entitled to any abatement or reduction in rent unless the leased premises have been destroyed in whole or in part and then only to the extent that such destruction substantially deprives it of the enjoyment of the leased premises and until the leased premises have been rebuilt or repaired in the manner set out in paragraph 14.5.2 above; 14.5.5 notwithstanding the provisions of paragraphs 14.5.1, 14.5.2 and 14.5.3, the LESSOR may cancel this lease, at its sole discretion, no later than sixty (60) days following the occurrence of the damages or destruction, by giving the LESSEE a written notice of its intention; such cancellation shall be enforceable on the date indicated in the notice.

DAMAGE OR DESTRUCTION. If the demised premises or any part thereof shall be damaged or destroyed by fire or other casualty, Landlord shall promptly repair all such damage and restore the demised premises without expense to Tenant, subject to delays due to adjustment of insurance claims, strikes and other causes beyond Landlord's control. If such damage or destruction shall render the premises untenantable in whole or in part, the rent shall be abated wholly or proportionately as the case may be until the damage shall be repaired and the premises restored. If the damage or destruction shall be so extensive as to require the substantial rebuilding (i.e., expenditure of fifty (50%) percent or more of replacement costs) of the building or buildings on the demised premises, Landlord or Tenant may elect to terminate this lease by written notice to the other given thirty (30) days after the occurrence of such damage or destruction. Landlord and Tenant hereby release each other from liability for loss or damage occurring on or to the leased premises or the premises of which they are a part or to the contents of either thereof, caused by fire or other hazards ordinarily covered by fire and extended coverage insurance policies and each waives all rights of recovery against the other for such loss or damage. Willful misconduct lawfully attributable to either part, whether in whole or in part a contributing cause of the casualty giving rise to the loss or damage, shall not be excused under the foregoing release and waiver.

DAMAGE OR DESTRUCTION means any damage to or the destruction in whole or in part of any of the Buildings and other Improvements on the Premises;

DAMAGE OR DESTRUCTION is Section 11 of the Agreement;