Common use of Actual Repair Required Clause in Contracts

Actual Repair Required. Should additions or other improvements constructed and/or installed by Concessionaire be destroyed or damaged, they shall in all instances be repaired or replaced by Concessionaire whether or not the damage or destruction is covered by insurance, provided that this Lease has not been canceled in accordance with the terms hereof. If, after restoration by the Board in accordance with this Article, Concessionaire fails to repair or replace the damaged additions or other improvements subject to a schedule approved by the Board, and provided that this Lease has not been canceled, the Board may make the repairs or replacements and shall thereafter be entitled to reimbursement from any insurance proceeds covering the loss. If the insurance proceeds are insufficient to cover the cost and expense of the repair or replacement, Concessionaire shall pay the Board the difference.

Actual Repair Required. Should additions or other improvements constructed and/or installed by Concessionaire be destroyed or damaged, they shall in all instances be repaired or replaced by Concessionaire whether or not the damage or destruction is covered by insurance, provided that this Lease Agreement has not been canceled in accordance with the terms hereof. If, after restoration by the Board in accordance with this Article, Concessionaire fails to repair or replace the damaged additions or other improvements subject to a schedule approved by the Board, and provided that this Lease Agreement has not been canceled, the Board may make the repairs or replacements and shall thereafter be entitled to reimbursement from any insurance proceeds covering the loss. If the insurance proceeds are insufficient to cover the cost and expense of the repair or replacement, Concessionaire shall pay the Board the difference.