DAMAGE AND DESTRUCTION OF PREMISES. In the event of fire or other casualty damage to the Premises during the Lease Term which requires repairs to the Premises, Landlord shall commence to make said repairs within ninety (90) days after written notice by Tenant of the necessity therefor and diligently proceed therewith to completion. The Minimum Monthly Rent shall be proportionately reduced while such repairs are being made, based upon the extent to which the making of such repairs shall interfere with the business carried on by Tenant in the Premises. Landlord shall have no obligation to repair, restore, or replace Tenant’s trade fixtures or personal property and Tenant shall be solely responsible therefor. Notwithstanding the above, if (a) during the last year of the Lease Term the Premises or the Building is damaged as a result of fire or any other insured casualty, or (b) the Premises are damaged to the extent of twenty-five percent (25%) or more of the replacement value of the Premises, or (c) the Premises or the Building is damaged or destroyed as a result of a casualty not insured against, or (d) the Building shall be damaged or destroyed by fire or other cause to the extent of twenty percent (20%) or more of the Building’s replacement value, then Landlord shall have the right, to be exercised by notice in writing to Tenant given within ninety (90) days after said occurrence, to terminate this Lease. Tenant waives any statutory or other right Tenant may have to cancel this Lease as a result of such destruction and no such destruction shall annul or void this Lease. The provisions of this Article shall supersede the obligations of Landlord to make repairs under Article 17 of the Lease. Notwithstanding the provisions of this Article 22, if the Premises or any other portion of the Building are damaged by fire or other casualty resulting from the negligent act or omission or willful misconduct of Tenant or Tenant’s Permittees, Minimum Monthly Rent shall not be reduced during the repair of the damage, and Tenant shall be liable to Landlord for the cost and expense of the repair and restoration of the Premises or the Building caused thereby to the extent that cost and expense is not covered by insurance proceeds.
DAMAGE AND DESTRUCTION OF PREMISES. 21.1 If the Premises or the Building are damaged by fire or other casualty (a “Casualty”), Landlord shall use good faith efforts to deliver to Tenant within sixty (60) days after such Casualty a good faith estimate (the “Damage Notice”) of the time needed to repair the damage caused by such Casualty.
DAMAGE AND DESTRUCTION OF PREMISES. In the event the Premises are destroyed, or the Park closed because of any governmental action, whether legislative, judicial or executive, war, civil disturbance, Act of God, fire, strike or other labor difficulty, except if caused by Lessee, its officers, agents, employees, invitees, licensees or patrons, and except if the same arose upon, or in connection with use of, the Premises, the obligations of both parties to this Lease Agreement shall be suspended during the period while the Premises are unusable and resume thereafter. No compensation or claim whatsoever will be paid or payable by Paramount by reasons of any loss or liability arising out of the foregoing. If the Premises are destroyed or damaged by Lessee, its agents, employees, invitees, licensees or patrons, Lessee shall be responsible for the costs incurred by Paramount in repairing and restoring the Premises.
DAMAGE AND DESTRUCTION OF PREMISES. (a) Landlord shall at all times during the term of this Lease carry property insurance on the building containing the Premises, including the “Structural Portions” (defined in Section 24(a) below) and common utility lines up to the point they serve individual tenant’s premises. Landlord shall be under no obligation to maintain insurance on any improvements installed by or for the benefit of Tenant’s use of the premises or otherwise owned by Tenant. Landlord may elect to self-insure its obligations hereunder and/or use whatever deductibles as Landlord deems appropriate, in its sole discretion.
DAMAGE AND DESTRUCTION OF PREMISES. Notwithstanding anything to the contrary contained in the Lease:
DAMAGE AND DESTRUCTION OF PREMISES. In the event that all or any portion of the Premises shall be totally or partially destroyed or damaged by fire or other insurable casualty, this Lease shall continue in full force and effect and Landlord, utilizing the proceeds of any casualty loss insurance policy, may, but shall not be obligated to, rebuild or repair the same. Landlord and Tenant agree that the provisions of A.R.S. §33-343 shall not apply to this Lease. If Landlord elects not to repair or restore the Premises, then in that event, this Lease shall terminate as to that portion of the Premises that has been damaged or destroyed and the Base Rent shall be equitably adjusted to reflect the fact that the area of the Premises has been reduced by such damage or destruction; provided, however, that if the damage or destruction renders more than fifty percent (50%) of the Premises unusable or untenantable, then in that event, Tenant shall have the right to elect to terminate this Lease by written notice to Landlord so long as such notice is received by Landlord within thirty (30) days after Xxxxxx’s receipt of Landlord’s election not to repair or restore the Premises.
DAMAGE AND DESTRUCTION OF PREMISES. (a) In the event that the Premises is damaged or destroyed so as to be unfit for occupation and use then the Landlord shall request the Tenant to indicate whether alternative accommodation is required. The Tenant shall respond to the Landlord within seven (7) working days indicating whether such alternative accommodation is required. If the Tenant requires alternative accommodation then this Tenancy Agreement shall continue in full force and effect. If the Tenant does not require alternative accommodation then this Tenancy Agreement will terminate.
DAMAGE AND DESTRUCTION OF PREMISES. A. If, during the Term, the Premises or any part thereof shall be destroyed or damaged in whole or in part by fire or any other cause, except condemnation, Tenant shall give to Landlord immediate written notice thereof and, so long as such destruction or damage is or should be covered by insurance required to be maintained by Tenant under this Lease ("Insured Damage"), Tenant shall promptly repair, replace and rebuild such damaged or destroyed Premises, at least to the extent of the value of such Premises existing immediately prior to such damage. Landlord shall not be required to perform any repair, replacement or rebuilding of Insured Damage. Landlord shall make available the proceeds of any property hazard insurance payable on occurrence of such Insured Damage, subject to the terms of any Mortgage and subject to the following terms and conditions:
DAMAGE AND DESTRUCTION OF PREMISES. 21.1 In the event of (a) fire or other casualty damage to the Premises or the Building during the Lease Term which requires repairs to either the Premises or the Building, or (b) the Premises or Building being declared unsafe or unfit for occupancy by any authorized public authority for any reason other than Tenant's act, use or occupation, which declaration requires repairs to either the Premises or the Building, Landlord shall commence to make said repairs within sixty (60) days of written notice by Tenant of the necessity therefor. The Minimum Monthly Rent shall be proportionately reduced from the date of such damage or declaration, based upon the extent to which such damage or declaration and the making of such repairs shall interfere with the business carried on by Tenant in the Premises.
DAMAGE AND DESTRUCTION OF PREMISES. If the Premises are damaged or destroyed by fire or casualty to the extent that normal use and occupancy of the Premises is substantially impaired, Resident may immediately vacate the Premises and notify Landlord in writing within seven (7) days thereafter of Resident's intention to terminate the Agreement, in which case the Agreement terminates as of the date of vacating; or if continued occupancy is lawful, vacate any part of the Premises rendered unusable by the fire or casualty, in which case Resident's liability for Rent is reduced in proportion to the diminution in the fair-market-equivalent rental value of the Premises. Unless the fire or casualty was due to Resident's negligence or otherwise caused by Resident, if the Agreement is terminated, Landlord shall return all prepaid Rent. Accounting for Rent in the event of termination or apportionment must be made as of the date of the fire or casualty.
