Partial Damage definition

Partial Damage. “Partial Damage” means damage or destruction to the Premises to the extent that the cost of repair is less than fifty percent (50%) of the fair market value of the Premises immediately prior to such damage or destruction. If at any time during the Term there is Partial Damage, Landlord may, at Landlord’s option, either (i) repair such damage, in which event this Lease shall continue in full force and effect, or (ii) give written notice to Tenant within thirty (30) days after the date of the occurrence of such damage of Landlord’s intention to terminate this Lease, which termination shall be effective as of the date of the occurrence of such damage.
Partial Damage. The term "substantial damage," as used herein, shall refer to damage which is of such a character that in Landlord's reasonable, good faith estimate the same cannot, in ordinary course, be expected to be repaired within 90 calendar days from the time that such repair work would commence. Any damage which is not "substantial damage" is "partial damage."
Partial Damage means if the Premises are damaged or destroyed to the extent that the cost of repair is less than fifty percent (50%) of the then replacement cost of the Premises.

Examples of Partial Damage in a sentence

  • Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

  • Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3 rather than Paragraph 9.2, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

  • If Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee-Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect.

  • In the event of Premises Partial Damage or Premises Total Destruction or a Hazardous Substance Condition for which Lessee is not responsible under this Lease, the Rent payable by Lessee for the period required for the repair, remediation or restoration of such damage shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired, but not to exceed the proceeds received from the Rental Value insurance.

  • If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee's expense), Lessor may either: (i) repair such damage as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) terminate this Lease by giving written notice to Lessee within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such damage.


More Definitions of Partial Damage

Partial Damage. The term "
Partial Damage means damage or destruction which does not result in the loss of either (a) fifty percent (50%) or more of the total number of Rentable Square Feet in the Premises or (b) fifty percent (50%) or more of the value of the Premises; and (2) the term "substantial damage" means any damage or destruction exceeding partial damage (including total destruction). All determinations as to the amount of damage, the time required for repair and other issues relating to damage and rebuilding shall be determined by Landlord's architect, whose determination shall be final and binding on Tenant.
Partial Damage means damage or destruction to any improvements on the Project, other than those owned by Lessee, which damage or destruction would, in Lessor's judgment, require fewer than ninety (90) days from the date such damage or destruction occurs to repair or restore.
Partial Damage means if the Premises are damaged or destroyed to the extent that the cost of repair is less than fifty percent (50%) of the then replacement cost of the Premises, and the reasonably-estimated period between the event of damage or destruction and completion of repairs is less than or equal to two hundred ten (210) days.
Partial Damage means any damage to the Buildings by fire or other casualty other than Substantial Damage.
Partial Damage. If the leased premises are partly damaged and the paragraph entitled "Destruction" below does not apply, the property shall be repaired as follows: (a) If the damage is caused by a risk which would be covered by a standard fire insurance policy with an endorsement for extended coverage, repair shall be at the expense of the Landlord whether or not the damage occurred as the result of fault on the part of Tenant. (b) If the damage occurred from a risk which would not be covered by insurance of the kind described above, repairs shall be at the expense of the Landlord unless the damage was the result of the fault of the Tenant, in which case the Tenant shall have the obligation to repair. (c) In any event, repairs shall be accomplished with all reasonable dispatch, subject to interruptions and delays from labor disputes and matters beyond the control of the party responsibility. Rent shall be abated to the damage and during the period of repair except when damage occurs because of the fault of the Tenant.
Partial Damage. In case of Partial Damage, wherein part of the cargo is deemed to be unsuitable for use, determination of the same shall be done from samples taken for moisture determination and sampling in the presence of Buyer, Seller, Insurance Surveyor, or their authorised representatives. Buyer shall pay for the quantity actually received at the smelter in usable condition as per the provisions contained herein. Payment shall be made for 100% of the provisional invoice value after adjusting for the full value of the quantity damaged. The value of the quantity damaged should be established from the provisional invoice value by prorating. In case 100% of provisional invoice value has already been drawn, the difference between drawn value and provisional payable value shall be claimed by the Buyer, by raising a Debit Note for the same. This shall be refunded by the Seller within 5 bank working days from the date of Buyer's debit note being faxed to Seller. The final payment will be the difference between final invoice value (based on actually received weight) and the provisional paid value, as described above.