Damage or Destruction of Improvements. In the event the Premises shall be rendered untenable by fire or other casualty, Landlord will, within sixty (60) calendar days from the date of said damage or destruction, repair or replace the Premises to substantially the same condition as prior to the damage or destruction. If Landlord fails to commence repair of the damage or destruction within thirty (30) calendar days from the date of such damage or destruction, or if the Premises have not been replaced or repaired to such condition within sixty (60) calendar days, Tenant may, at its option, upon written notice to the Landlord, terminate this Lease. The rent herein required to be paid shall xxxxx during the period of such untenantability. If the Premises shall be damaged in part by fire or other casualty but still remains tenantable, Landlord shall repair the Premises to substantially the same condition as prior to the damage. Landlord shall commence repair of the damage or destruction within thirty (30) calendar days from the date of occurrence. During the period of such repairs and restoration, the Lease shall continue in full force and effect; provided, however, that Tenant shall be required to pay the rent, herein reserved, abated by the percentage of area destroyed as compared to the total area herein demised. Said percentage shall be established within ten (10) calendar days following the damage. Any dispute which arises under this Article regarding the usability of the Premises and reasonable rent shall be settled by arbitration pursuant to the provisions of Article 28.
Damage or Destruction of Improvements. If, during the leasehold term created hereunder, structures or other improvements, if any, situated upon the Leased Premises or any portion thereof are damaged or destroyed by fire or other casualty, this Lease shall not terminate but rent shall xxxxx until all damaged portion or portions shall be rebuilt in accordance with the terms and procedures set forth in the CC&Rs.
Damage or Destruction of Improvements. Should the Company's Improvements to the Premises or its furnishings, fixtures, signage, trade fixtures, and equipment, or any part of them, be destroyed or damaged, whether or not said damage or destruction is covered by insurance, Company shall, at its sole cost and expense, and in compliance with Article
Damage or Destruction of Improvements. If the improvements located upon the Premises shall be damaged or destroyed by any cause insured against, Landlord shall, rebuild or restore the damaged or destroyed improvements, using insurance proceeds for such purpose and this Lease shall continue in full force and effect. In such event the rental reserved hereunder shall be paid by the business interruption insurance hereinafter provided for. If the remaining term is one (1) year or less, either party shall have the right to terminate this Lease.
Damage or Destruction of Improvements. Should the Company's Improvements to the Premises or its furnishings, fixtures, signage, trade fixtures, and equipment, or any part of them, be destroyed or damaged, whether or not said damage or destruction is covered by insurance, Company shall, at its sole cost and expense, and in compliance with Article 6C. through 6.E., above, reconstruct all Improvements to the Premises and replace all furnishings, fixtures, signage, trade fixtures and equipment with all such replacements being of equal quality to those originally installed by Company in the Premises, except in the event that the Premises are so damaged that they are untenable and cannot reasonably be repaired within thirty (30) days and the Aviation Authority has elected to terminate this Agreement as provided in Article 13.C., above. If Company fails to repair or replace such improvements in accordance with a schedule approved by the Aviation Authority, the Aviation Authority shall have the right (but not the obligation) to make such repairs and/or replacement and recover from Company the cost and expense thereof.
Damage or Destruction of Improvements. Upon any damage to or destruction of any portion of the Improvements the original cost of which, in the aggregate, exceeds $250,000, the Board shall take one of the following actions, in the sole discretion of the Board Representative:
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Damage or Destruction of Improvements. In the event that any or all of the improvements located in or on the Leased Premises shall suffer partial or substantial destruction at any time during the Term of this Agreement, the respective rights and obligations of the parties hereto with respect to reconstruction, repairing, and/or restoring such improvements and/or with respect to the matter of the continuance or termination of this Agreement following any such destruction, shall be controlled by the provisions of this Section.
Damage or Destruction of Improvements. Tenant shall complete any work of restoration, repair, replacement or rebuilding with respect to the Premises required to be performed as a result of condemnation by any applicable governmental authority or fire or other casualty during the Term of the Lease (the "Restoration Work"), which becomes necessary at any time during the Term. Whenever Tenant shall be required under the Lease to carry out any Restoration Work, Landlord shall be entitled to receive any applicable Insurance proceeds and condemnation award in trust. Landlord may apply all or any portion of such proceeds to cure a default by Tenant, and shall otherwise disburse, in Landlord's reasonable discretion, such proceeds or awards to Tenant for reimbursement for the costs and expenses of such Restoration Work. With respect to any Restoration Work, Tenant shall (a) obtain Landlord's prior written approval of Tenant's construction plans, budget, and schedule; (b) provide Landlord with true and complete certified copies of all permits and authorizations from applicable government authority necessary to complete such Restoration Work; (c) provide Landlord with evidence, satisfactory to Landlord, that Tenant has sufficient insurance coverages and funds earmarked to complete such Restoration Work; and (d) provide Landlord with evidence, satisfactory to Landlord, of payment and performance bonds. Tenant shall carry out any Restoration Work in a good and workmanlike manner, lien free, in accordance with the plans approved by Landlord and in compliance with all applicable building, land use and zoning laws, codes and ordinances and all of the terms and conditions of the Lease. Accordingly, Tenant shall (a) diligently obtain all permits and authorizations from applicable governmental authority necessary for the Restoration Work at the earliest possible date; (b) commence the Restoration Work at the earliest possible date; and (c) thereafter in a diligent and continuous manner, and in accordance with the construction schedule which has been approved by Landlord, prosecute the Restoration Work to completion at the earliest possible date. If Tenant shall fail or neglect at any time to supply sufficient workmen or sufficient materials of proper quality, or fail in any other respect to prosecute any Restoration Work in a diligent and continuous manner, then Landlord may give notice to Tenant of such failure or neglect. If such failure or neglect continues for 10 days after such notice, then Landlord, in addi...
Damage or Destruction of Improvements. The complete or partial destruction or damage, by fire or other casualty, of the Improvements shall not terminate this Lease or entitle the Lessee to surrender possession of the Leased Property or to have or to demand any abatement or reduction of the Rent or other charges payable under this Lease.
