DESTRUCTION OF PREMISES definition

DESTRUCTION OF PREMISES. If the building in which the herein demised premises is situated shall be damaged or destroyed by fire, earthquake, act of God, or the elements, Tenant shall give immediate notice thereof to Landlord and Landlord shall forthwith repair the same, provided that there are sufficient proceeds from said insurance to cover the cost of restoration (assuming Landlord is carrying the insurance required to be carried by landlord by this lease), and provided such repairs can be made under the laws and regulations of State, County or Municipal authorities, but such destruction or damage shall in no event annul or void this lease. Tenant shall be entitled to a proportionate deduction of rent while such repairs are being made, such proportionate deduction to be based upon the extent to which the making of such repairs shall interfere with the business carried on by the Tenant in the said premises. If such repairs can not be made in said manner in sixty (60) days, the Landlord may, at its option, make same within a reasonable time, this lease continuing in full force and effect, but the Tenant shall be entitled to a proportionate deduction of rent while such repairs are being made as herein above provided. In the event that the Landlord does not so elect to make such repairs, this lease may be terminated at the option of either party. In the event that the Landlord within sixty (60) days of the date of the destruction does not notify Tenant in writing of Landlord's intent to elect to make such repairs, this lease may be terminated at the option of either party. In respect to any damage or destruction which Landlord is obligated to repair or may elect to repair under the terms of this paragraph, the provision of Section 1932, Subdivision 2, and of Section 1933,
Sample 1
DESTRUCTION OF PREMISES. If a fire or any other casualty ("Casualty") which damages the Premises or the Building occurs and materially affects the use of the Premises, Landlord shall determine whether the Premises are rendered substantially untenantable and make an initial estimate of the time needed to complete necessary repairs to the Building and Premises. Within thirty (30) business days after the Casualty, Landlord shall notify Tenant in writing of Landlord's determinations ("Landlord's Notice") as follows:
Sample 1
DESTRUCTION OF PREMISES. If at any time during the Lease Term there is damage to the Premises, Lessee shall, at Lessee's expense, repair such damage to the Premises including all tenant improvements as soon as reasonably possible and this Lease shall continue in full force and effect. The Rent payable hereunder for the period from the date of such damage and during the period in which such damage, repair or restoration continues shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired, to the extent that proceeds of such Loss of Rents Insurance Coverage is actually received by Lessor. Except for abatement of Rent, if any, Lessee shall have no claim against Lessor for any damage suffered by reason of any such damage, destruction, repair or restoration. Notwithstanding the above, during the last twelve (12) months of the Lease Term unless Lessee exercises or has exercised its option to renew the Lease, if more than 33% of the Premises are damaged, Lessor or Lessee may cancel the Lease with written notice to the other party within ten (10) days of the date of damage. If either Lessor or Lessee cancels the Lease, Lessee shall pay to Lessor the full replacement cost of the repair or restoration of the damaged Premises, and provided that Lessee makes such payment to Lessor, then Lessee shall receive all insurance proceeds attributable to such damage to the Premises.
Sample 1

Examples of DESTRUCTION OF PREMISES in a sentence

  • DESTRUCTION OF PREMISES of the Lease, in the event Landlord cannot complete the repairs and return possession to Tenant within a period of six (6) months, Tenant shall have the option of terminating this Lease.

  • DESTRUCTION OF PREMISES Continuance of Lease: In the event the Premises shall be partially or totally destroyed by fire or other casualty insured under the provisions of Section 8.01 above, so as to become partially or totally untenantable, then the damage to the Premises shall be promptly repaired, unless Landlord shall elect not to rebuild or repair as hereinafter set forth.

  • DESTRUCTION OF PREMISES: IN THE EVENT OF PARTIAL DESTRUCTION OF THE PREMISES, FROM ANY CAUSE, AND REPAIRS CAN BE MADE WITHIN 60 DAYS UNDER EXISTING LAWS AND REGULATIONS, LESSOR SHALL FORTHWITH REPAIR THE SAME.

  • DESTRUCTION OF PREMISES DOES NOT TERMINATE LEASE...............................................

  • DAMAGE OR DESTRUCTION OF PREMISES The Lessee shall carry and maintain hazard insurance, with extended coverage, at Lessee's expense, to cover loss by fire or other peril of the leased premises at least in the amount of $290, 000.

  • DAMAGE OR DESTRUCTION OF PREMISES..................................................

  • SECTION 11.01 - DESTRUCTION OF PREMISES If the Demised Premises are totally destroyed by fire or other casualty not resulting from the wrongful or negligent act of Tenant, either Landlord or Tenant may by written notice, given not later than thirty (30) days after the date of such total destruction, terminate this Lease, in which event rent paid for the period beyond the date of destruction shall be refunded to Tenant.

  • DAMAGE OR DESTRUCTION OF PREMISES (S)10.01 Notice to Lessor........................

Related to DESTRUCTION OF PREMISES

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent (50%) of the then Replacement Cost of the building.

  • Destruction means physical destruction or removal of personal identifiers from information so that the information is no longer personally identifiable.

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • Premises Partial Damage means damage or destruction to the Premises, other than Lessee-Owned Alterations and Utility Installations, the repair cost of which damage or destruction is less than fifty percent (50%) of the then Replacement Cost (as defined in Paragraph 9.1(d)) of the Premises (excluding Lessee-Owned Alterations and Utility Installations and Trade Fixtures) immediately prior to such damage or destruction.

  • Building construction means any physical activity on the site involved in the erection of a structure, cladding, external finish, formwork, fixture, fitting of service installation and the unloading of plant, machinery, materials or the like.

  • Rentable Area of Premises on Page 1 of the Lease shall be deleted in their entirety and replaced with the following:

  • Premises Total Destruction means damage or destruction to the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in six (6) months or less from the date of the damage or destruction. Lessor shall notify Lessee in writing within thirty (30) days from the date of the damage or destruction as to whether or not the damage is Partial or Total.

  • Subleased Premises means such portions of the Leased Premises being particularly identified on Schedule B, which the parties agree, for the purposes of this Sublease and any square footage calculations pursuant hereto, is approximately 42,244 square feet of office (21,068 square feet on the third floor and 21,176 square feet on the seventh floor) and approximately 9.4312% of common space (building rentable area is 447,917 square feet).

  • the Premises means the building or part of the building booked and referred to in the contract

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Demised Premises or “Premises” (and whether or not capitalized) is used herein, it shall be understood to mean the “premises leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not capitalized), it shall be understood to mean all of the contiguous land and buildings owned by Landlord at this location, which include the premises leased hereby. The term “Non-leased Premises” shall mean the Entire Premises less the Leased Premises.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Leasehold Improvements means all leasehold improvements situated in or on the Leased Real Property and owned by Seller.

  • Certificate of Substantial Completion means the certificate executed by the A/E, ODR and Contractor that documents to the best of A/E’s and ODR’s knowledge and understanding, Contractor’s sufficient completion of the work in accordance with the Contract, so as to be operational and fit for the use intended.

  • Repair means to restore to proper operating condition a tank, pipe, spill prevention equipment, overfill prevention equipment, corrosion protection equipment, release detection equipment or other UST system component that has caused a release of product from the UST system or has failed to function properly.

  • Building Work has the meaning given to it in section 6 of the Building and Construction Industry (Improving Productivity) Act 2016 (Cth);

  • Tenant Improvements Defined in Exhibit B, if any.

  • Premises means the location where the Services are to be supplied, as set out in the Specification.

  • the Building means any building of which the Property forms part.

  • Partial Condemnation means any Condemnation which does not constitute a Termination Event.

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.