Casualty Clause. (a) If at any time during the Term of this Lease, the Leased Premises, the Common Areas, including the Parking Areas, the Buildings or any systems or equipment serving the Leased Premises, the Common Areas or the Buildings (collectively, the “Damaged Property”) is damaged by fire, earthquake, flood or by any other casualty of any kind or nature (a “Casualty”) then, except as hereinafter provided, Landlord shall proceed to rebuild or restore the Damaged Property at Landlord’s sole cost and expense; provided that, in no event, shall Damaged Property include, nor shall Landlord or Tenant have any obligation to rebuild or restore, any of Tenant’s furniture, furnishings, equipment, trade fixtures or other property owned by Tenant. If, in the reasonable opinion of Landlord’s architect as evidenced by a written letter of certification delivered to Tenant not more than forty-five (45) days following the Casualty, the Damaged Property cannot be repaired so as to make the Leased Premises and the Parking Areas tenantable within two hundred seventy (270) days from the date of notice of Landlord’s architect’s opinion, then Tenant shall have the right to terminate this Lease as to such property by notifying Landlord in writing of such termination within thirty (30) days of receipt of Landlord’s architect’s opinion. Any failure by Tenant to deliver such termination notice to Landlord by such thirtieth (30th) day shall constitute a waiver of Tenant’s right to terminate this Lease pursuant to this Section 6.3(a) as a result of such Casualty.
Casualty Clause. (a) If, at any time during the Term, the Property (including the Building, the Common Areas, the Leased Premises, inclusive of the Leasehold Improvements, and the other Leasable Areas and the leasehold improvements therein) or any part thereof (collectively, the “Damaged Property”) is damaged by fire, earthquake, flood or by any other casualty of any kind or nature (a “Casualty”) then, unless this Lease is terminated as hereinafter provided in this Section 6.3(a) or Section 6.3(b) below, Landlord shall proceed to rebuild or restore the Damaged Property at Landlord’s sole cost and expense; provided, that, in no event shall Damaged Property include, nor shall Landlord or Tenant have any obligation to rebuild or restore, any of Tenant’s Property or the trade fixtures or personal property of other tenants or occupants. Such rebuilding and restoration work required of Landlord is herein collectively called “Landlord’s Restoration Work”. If any Casualty shall render the Leased Premises completely or partially untenantable for any period (regardless of whether the Damaged Property includes any part of the Leased Premises), then all Rent shall be abated in the proportion that the untenantable area of the Leased Premises bears to the total area of the Leased Premises for the period of such untenantability. The term “untenantable”, when used with respect to the Leased Premises, or any portion thereof, shall mean that the Leased Premises, or such portion thereof, is not reasonably capable of being used (and, in fact, is not used) by Tenant or any Tenant Party theretofore occupying the same for the purposes demised hereunder. Within thirty (30) days following any Casualty, Landlord shall cause to be prepared and delivered to Tenant an estimate of the date by which the Landlord’s Restoration Work necessitated by Casualty shall be completed (which estimate shall be prepared by an independent reputable contractor, registered architect or licensed professional engineer designated by Landlord, and reasonably approved by Tenant) (such estimate being herein called the “LRW Estimate”). If the LRW Estimate is a date later than the date that is eighteen (18) months after the date of the Casualty, then Tenant may terminate this Lease by giving Landlord notice to such effect within thirty (30) days after the LRW Estimate is delivered to Tenant (and in the event of such termination, the Rent shall be prorated and adjusted as of the date of such termination, subject to the abatemen...
Casualty Clause if the improvements on the Property are damaged by casualty before closing and the estimated loss of repair is less than 10% of the purchase price, then Seller shall repair the damage. If the estimated cost of repair is greater than 10% of the purchase price, or if repairs cannot be completed by closing, then the parties will bargain in good faith to renegotiate the contract. If renegotiation is unsuccessful, then either Buyer or Seller may cancel this contract.
Casualty Clause. (a) In the event any portion of the Leased Premises or any portion of the General Common Areas is damaged by fire or other casualty, earthquake or flood or by any other cause of any kind or nature (hereinafter collectively referred to as the “damaged property”) and the damaged property can, in the opinion of the Landlord’s architect, be repaired within ninety (90) calendar days from the date of notice of Landlord’s architect’s opinion, then Landlord shall proceed to rebuild or restore the damaged property to Base Building Shell Condition, subject to subsection (e) hereof.
Casualty Clause. This Contract shall be subject to the Illinois Uniform Vendor and Purchaser Act as currently in effect. Seller shall keep adequate insurance including fire and other extended coverage, on improvements on the Real Estate until possession is delivered to Purchaser. Purchaser may purchase additional insurance even though he is not in possession. Purchaser shall be responsible for insurance coverage upon taking possession of the Real Estate.
Casualty Clause. Seller shall bear the risk of loss or damage to the Property prior to Closing. If all or a material part of the Property is damaged or destroyed prior to closing, this Agreement shall terminate and be of no further force and effect, and Seller shall return the Xxxxxxx Money to Purchaser.
Casualty Clause. (a) In the event any portion of the Premises or any material portion of the remainder of the Project is damaged by fire or other casualty, earthquake or flood or by any other cause of any kind or nature (hereinafter collectively referred to as the "damaged property") and the damaged property can, in the opinion of the Landlord's architect, be repaired or replaced within one hundred eighty (180) calendar days from the date of notice of Landlord's architect's opinion (delivered within thirty (30) days from the date of any such damage), then Landlord shall proceed to rebuild or restore the damaged property to Building Standard condition (with Building Standard Tenant Allowances), subject to subsection (d) hereof.
Casualty Clause. (a) In the event all or any portion of the Leased Premises or Property (excluding space in the Building leased or held for lease to others but specifically including, without limitation, On-Floor Common Areas, General Common Areas, and all structural Page 33 of 56 175368 2031.0 Synthesis Energy Systems – 12.7.07 components of the Building) is damaged by fire, earthquake, flood or other casualty, or by any other cause of any kind or nature (such damaged property being hereinafter referred to as the "Damaged Property"), and the Damaged Property can, in the opinion of Landlord's architect, be repaired within one-hundred eighty (180) calendar days from the date of issuance of Landlord's architect's opinion, then, this Lease shall not be terminated and Landlord shall proceed to rebuild or restore the Damaged Property to Building Standard condition, or to such other condition as Landlord may reasonably elect, subject to subsections (c) and (d) hereof, and subject to proceeds being made available to Landlord by Landlord's mortgagee. Landlord shall cause its architect to issue such architect's opinion concerning such matter to Landlord and Tenant within thirty (30) days after Landlord learns of the occurrence of such damage.
Casualty Clause. (a) In the event any portion of the Leased Premises or any portion of the General Common Areas is damaged by fire or other casualty, earthquake or flood or by any other cause of any kind or nature (hereinafter collectively referred to as the "Damaged Property") and the Damaged Property can, in the opinion of the Landlord's architect, be repaired within ninety (90) calendar days from the date of notice of Landlord's architect's opinion, then Landlord shall proceed to rebuild or restore the Damaged Property to Building Standard condition (with Base Building Improvements), subject to Section 6.03(e) hereof.
Casualty Clause. (a) In the event any portion of the Leased Premises or any portion of the common areas of the Buildings are damaged by fire or other casualty, earthquake or flood or by any other cause of any kind or nature (hereinafter collectively referred to as the “Damaged Property”), Landlord shall proceed to rebuild the Damaged Property to Base Building Shell Condition if (i) in the opinion of Landlord’s architect, the Damaged Property can be fully restored and rebuilt within one year from the date of notice of Landlord’s architect; and (ii) the “Available Funds” (as hereafter defined) shall be adequate to pay all costs of restoration and repair. In the event that Landlord has not received confirmation that the condition of subparagraph (ii) will be met, Landlord shall have the right to terminate this Lease by written notice to Tenant within sixty (60) days following receipt of Landlord’s architect’s opinion. As used herein, the term “
