Common use of Casualty Clause Clause in Contracts

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 abatement provisions herein-above set forth).

Casualty Clause. (a) IfIn the event of a fire or other casualty in the Premises, Building or Real Property, Tenant shall immediately give notice of such event in or affecting the Premises to Landlord. If the Premises shall be partially destroyed by fire or other casualty so as to render the Premises untenantable in whole or in part, or such fire or other casualty in the Building or Real Property deprives Tenant of the beneficial use and enjoyment of the Premises, then the Base Rent, Operating Expense Payment and Tenant’s Tax Payment shall xxxxx as to the portion of the Premises rendered untenantable until such time as the Premises and the Building and Real Property, to the extent necessary for the beneficial use and enjoyment of the Premises, are made tenantable, as reasonably determined by Landlord and Tenant, and, in the event they are unable to agree, then the determination of the same shall be referred to the AAA for Expedited Arbitration (as hereinafter defined). In the event of total or substantial damage or destruction of the Premises or the remainder of the Building from any cause, Landlord may, at any time during the Termits option, the Property (including the Buildingdecide whether to rebuild. If Landlord shall decide to rebuild, 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 then this Lease is terminated as hereinafter provided shall remain 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 full force 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 effect during 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 except that Rent shall be abated as aforesaid) and Landlord shall rebuild promptly and diligently. In no event shall Landlord be obligated to expend toward any such restoration an amount in the proportion that the untenantable area excess of the Leased Premises bears net insurance proceeds it actually receives (after deducting all of Landlord’s costs of obtaining such insurance proceeds including, without limitation, attorneys’ fees and disbursements). If Landlord shall decide not to rebuild, then all Base Rent and additional rent owed up to the total area of the Leased Premises for the period time of such untenantability. The term “untenantable”, when used with respect to the Leased Premises, damage or any portion thereof, destruction or termination shall mean that the Leased Premises, or such portion thereof, is not reasonably capable of being used (and, in fact, is not used) be paid by Tenant and this Lease shall then cease and come to an end. Landlord shall give Tenant notice of its decisions or any Tenant Party theretofore occupying the same for the purposes demised hereunder. Within thirty elections under this Section within sixty (3060) days following after any Casualtysuch damage or destruction. Notwithstanding anything contained in this Section, Landlord shall cause not be obligated to be prepared and delivered to Tenant an estimate of restore or rebuild 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 abatement provisions herein-above set forth)Initial Improvements.