DAMAGE AND DESTRUCTION OF PREMISES Sample Clauses

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. (b) If the Premises shall be damaged, destroyed, or rendered untenantable, in whole or in part, by or as the result or consequence of fire or other casualty during the term hereof, Landlord shall repair and restore the same to a good tenantable condition with reasonable dispatch. During such period of repair, the rent herein provided for in this Lease shall axxxx (i) entirely in case all of the Premises are untenantable; and (ii) proportionately if only a portion of the Premises is untenantable and Tenant is able to economically conduct its business from the undamaged portion of the Premises. The abatement shall be based upon a fraction, the numerator of which shall be the square footage of the damaged and unusable area of the Premises and the denominator shall be the total square footage of the Premises. Said abatement shall cease at such time as the Premises shall be restored to a tenantable condition. (c) In the event the Premises, because of such damage or destruction, are not repaired and restored to a tenantable condition with reasonable dispatch within one hundred fifty (150) days from the date of receipt of insurance proceeds for such damage or destruction, Tenant or Landlord may, at their option, terminate this Lease within sixty (60) days following such one hundred fifty (150) day period but prior to the repair and restoration of same by giving prior written notice to the other party and thereupon Landlord and Tenant shall be released from all future liability and obligations under this Lease. (d) If one-third (1/3) or more of the ground floor area of the Premises are damaged or destroyed during the last two (2) years of the original or any extended term of this Lease, Landlord shall have the right to terminate this Lease by written notice to Tenant within sixty (60) days following such damage or destruction, unless Tenant shall, within thirty (30) days foll...

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) 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. (b) Notwithstanding that the Landlord may have provided alternative accommodation to the Tenant under clause 4.14(a) in the Additional Terms, the Landlord may terminate this Tenancy Agreement, including the Tenant’s use of the alternative accommodation, at the end of the academic term in which the Premises is damaged or destroyed as referred to in clause 4.14(a) in the Additional Terms.

DAMAGE AND DESTRUCTION OF PREMISES. 5 ARTICLE 23.

DAMAGE AND DESTRUCTION OF PREMISES. In the event of damage or destruction to the premises which is covered by insurance, the insurance proceeds shall be used for the repair and reconstruction of such damage and the parties shall promptly repair and/or reconstruct the premises and the interior improvements to their condition immediately prior to the damage or destruction. This Lease shall continue in full force and effect in the event of such damage and reconstruction. In the event the premises are damaged by a cause not covered by the fire and extended coverage insurance carried on the premises, Lessor shall reconstruct the premises to the extent of the construction at the commencement hereof; provided however, if such uninsured loss exceeds 33% of the then replacement cost of the building, Lessor shall have the option of terminating this Lease by written notice to Lessee, within thirty (30) days of such damage or destruction, in which event this Lease shall terminate as of the date of the damage or destruction. Should Lessor not elect to so terminate the Lease, it shall proceed with due dispatch to reconstruct the premises to the extent of the construction at the commencement hereof, in which event this Lease shall continue in full force and effect. In the event Lessor elects to terminate this Lease, all rentals and other payments shall be prorated as of the date of termination.

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 thirty (30) days after Xxxxxx's receipt of Landlord's election not to repair or restore 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 Owner 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, Owner shall return security recoverable under S.C. Code Xxx. §00-00-000 and 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.

DAMAGE AND DESTRUCTION OF PREMISES. A. RESTORATION OF PREMISES If the Premises or any portion thereof are damaged or destroyed by fire or other casualty, Lessee shall, with all reasonable diligence, repair, reconstruct and restore the Premises, including but not limited to all Facilities, as nearly as possible to the condition which existed immediately prior to the damage or destruction, subject to the approval of the Authority.

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. 21.2 If a material portion of the Premises is damaged by Casualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused thereby cannot be repaired within one hundred eighty (180) days after the commencement of repairs (the “Repair Period”), then Tenant may Terminate this Lease by delivering written notice to Landlord of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant; provided however, the foregoing 180-day replacement period shall be reduced to 90 days during the last two (2) years of the Term. 21.3 If a Casualty damages the Premises or a material portion of the Building and: (1) Landlord estimates that the damage to the Premises cannot be repaired within the Repair

DAMAGE AND DESTRUCTION OF PREMISES. The Resident may immediately vacate the Premises, and may terminate this Agreement within fourteen