Fire and Other Casualties. If the rental space is damaged or destroyed by fire or other casualty, Tenant shall give prompt notice thereof to Landlord.
Fire and Other Casualties. If prior to full payment of the rent, the Property is destroyed (in whole or in part) by fire or other casualty, the net proceeds of any insurance resulting from claims for such losses shall be applied, at the discretion of the Lessee, for either of the following purposes: The prompt repair, or replacement of the property damaged or destroyed to substantially the same condition as existed prior to the event causing such damage or destruction, as may be desired by the Lessee and as will not materially alter the character of the Property. If the Lessee elects to so repair, such net proceeds shall be paid to and held by the Lessor for such disposition. If the Net Proceeds are not sufficient to pay in full the costs of such repair of the property, the Lessee will nonetheless complete the work, repair or replacement thereof and will pay that portion of the costs thereof in excess of the amount of said net proceeds without reimbursement from Lessor and without any abatement or diminution of the rents payable under this Lease. Any balance of such net proceeds remaining after payment of all the costs of such repair or replacement may be retained by the Lessor and applied to the rent in inverse order of maturity.
Fire and Other Casualties. The Seller shall not bear any risk of destruction, loss or damage to the Assets to be sold hereunder due to fire, storm, or other casualty occurring prior to the Closing Date.
Fire and Other Casualties. 19 SECTION 10.01. Notice. . . . . . . . . . . . . . . . . . . . . . . . .19 SECTION 10.02. Damage. . . . . . . . . . . . . . . . . . . . . . . . .19 SECTION 10.03. Lessor's Rights to Terminate. . . . . . . . . . . . . .20 SECTION 10.04. Termination of the Lease. . . . . . . . . . . . . . . .20 SECTION 10.05.
Fire and Other Casualties. 16 SECTION 10.01. Notice . . . . . . . . . . . . . . . . . . . . . . . .16 SECTION 10.02. Damage . . . . . . . . . . . . . . . . . . . . . . . .16 SECTION 10.03. Lessor's Rights to Terminate . . . . . . . . . . . . .17 SECTION 10.04. Termination of the Lease . . . . . . . . . . . . . . .17 SECTION 10.05. Repair and Restoration . . . . . . . . . . . . . . . .18 ARTICLE 11 - CONDEMNATION. . . . . . . . . . . . . . . . . . . . . . . . . .18 ARTICLE 12 - LIABILITY/ENVIRONMENTAL INDEMNITY . . . . . . . . . . . . . . .18
Fire and Other Casualties. In the event the Building or Premises shall be destroyed or rendered untenantable, either in whole or in part, Landlord may, at it's option, restore the Building and Premises to the condition existing just prior to the casualty and Tenant's rent for that portion of the Premises rendered unfit for occupancy shall xxxxx until the Building and Premises have been fully restored or this Lease has been terminated. Within thirty (30) days of the date of the casualty, Landlord shall give Tenant written notice indicating whether or not Landlord will restore the Building and Premises. If Landlord elects to restore, the notice must indicate how long the restoration is expected to take. If Premises are not restored within one hundred and twenty (120) days from the date of such casualty to substantially the same condition as before the casualty, Tenant shall have the right to cancel this lease as of the date of the casualty.
Fire and Other Casualties. (a) In case of damage to the Demised Premises, or to the building of which the Demised Premises form a part, by fire or other casualty covered by the standard New Jersey Extended Coverage Endorsement attached to fire insurance policies in the area in which the Demised Premises are located, if the damage is so extensive as to amount practically to the total destruction of the Demised Premises or the building of which the Demised Premises form a part, this Lease shall terminate, and the rent shall be apportioned to the time of the damage. In all other cases where the Demised Premises are damaged by fire or other such casualty, LANDLORD shall repair warehouse purposes to which the Demised Premises were being devoted at the time of such casualty, and LANDLORD cannot reasonably render them tenantable within thirty (30) days next following the casualty, and if such casualty shall have originated elsewhere than within the Demised Premises, LANDLORD or TENANT may, at its election, terminate the Lease by written notice to the other. There shall be an apportionment of the rent until the damage has been repaired or until the Lease shall have been so terminated.
Fire and Other Casualties. 11.01 - Untenantability If the Premises are made untenantable in whole or in part by fire or other casualty, the fixed monthly rent, additional rent and other charges, until repairs shall be made or the Lease terminated as hereinafter provided, shall be apportioned on a per diem basis according to the part of the Premises which is usable by Tenant, if, but only if, such fire or other casualty ARE NOT SHOWN TO HAVE BEEN caused by Tenant's FAILURE TO PROPERLY MAINTAIN ITS fixtures or equipment or by fault or negligence of Tenant, its contractors, agents or employees. If such damage shall be so extensive that the Premises cannot be restored by Landlord within a period of nine (9) months, either party shall have the right to cancel this Lease by notice to the other given at any time within thirty (30) days after the date of such damage, except that if such fire or casualty ARE SHOWN to be due to Tenant's FAILURE TO PROPERLY MAINTAIN ITS fixtures or equipment or due to Tenant's fault or negligence Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of Landlord the Building should be restored in such a way as to alter the Premises materially, Landlord may cancel this Lease by notice to Tenant given at any time within thirty (30) days after the date of such damage. In the event of giving effective notice pursuant to this paragraph, this Lease and the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Lease. If this Lease is not so terminated, Landlord will promptly (taking into account the time necessary to obtain required permits and approvals and the time necessary to effectuate a satisfactory settlement with Landlord's insurance company) restore the damage insured by Landlord pursuant to paragraph 10.02. Tenant hereby expressly waives the provisions of Section 227 of the New York Real Property Law and agrees that the foregoing provisions of this paragraph 11.01 shall govern and control in lieu thereof.
Fire and Other Casualties. In the event that the premises, or a major portion thereof, are destroyed or so damaged by fire or other casualty so as to render them untenable, the Lessor shall have the option to terminate this lease or to forthwith repair such damage or destruction at his own cost and expense, and rent shall cease until the completion of such repairs. In the event that the premises shall be partially destroyed, so that the major portion thereof remains usable by Lessee, then the rental shall xxxxx to the extent that the damaged portion bears to the whole of the leased premises and such damage shall be restored by the Lessor forthwith, and upon completion of such repairs, the full rental shall commence. The Lessor shall notify the Lessee in writing, within 30 days after any such fire or other casualty, whether it elects to make such repairs or to terminate the lease.
Fire and Other Casualties. If the Premises are damaged or destroyed by fire or other casualty, Tenant shall give prompt notice thereof to Landlord.
