Common use of Damage and Destruction Clause in Contracts

Damage and Destruction. (a) If, during the Term, the Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the Company. (c) If the Company shall determine that rebuilding, repairing, restoring or replacing the Improvements are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 days. The Company agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company under this Lease nor of any other obligations of the Company under this Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Term, the any Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee Bank in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Project Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee Bank and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the CompanyTenant. (c) If the Company Tenant shall reasonably determine that rebuilding, repairing, restoring or replacing the Improvements are is not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Project Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment AccountDebt Service Fund. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysdate. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Project Lease nor of any other obligations of the Company Tenant under this Project Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Term, the Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the Company. (c) If the Company shall determine that rebuilding, repairing, restoring or replacing the Improvements are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysdate. The Company agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company under this Lease nor of any other obligations of the Company under this Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Term, the Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the CompanyTenant’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the CompanyTenant. (c) If the Company Tenant shall determine that rebuilding, repairing, restoring or replacing the Improvements are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysdate. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Basic Term, the Improvements are Project is damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements Project shall be paid to the Trustee and shall be deposited in the Project Replacement Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Replacement Fund after such rebuilding, repairing, restoring or replacing shall be paid to deposited into the CompanyPrincipal and Interest Payment Account. (c) If the Company Tenant shall determine that rebuilding, repairing, restoring or replacing the Improvements are Project is not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 days. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements Project during any period in which the Improvements are Project is damaged or destroyed, or are is being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this the Lease nor of any other obligations of the Company Tenant under this the Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Term, the any Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such caseIf Tenant is the sole owner of Bonds and Section 18.3 is not applicable, all Net Proceeds shall be paid to Tenant. If Tenant is not the sole owner of Bonds, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the CompanyTenant. (c) If the Company Tenant shall reasonably determine that rebuilding, repairing, restoring or replacing the Improvements are is not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment AccountDebt Service Fund. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysdate. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Term, the any Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Project Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the CompanyTenant. (c) If the Company Tenant shall reasonably determine that rebuilding, repairing, restoring or replacing the Improvements are is not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Project Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment AccountDebt Service Fund. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysdate. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Project Lease nor of any other obligations of the Company Tenant under this Project Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Termterm of this Lease, the Improvements are Leased Premises, or any part thereof, shall be destroyed or damaged or destroyed, in whole or in part, by fire or other casualty: a. If such damage or loss is such that fifty percent (50%) or greater of the Leased Premises are unfit for occupancy or use, the Company shall promptly notify the Issuer and the Trustee City in writing as to whether the nature and extent of such damage or loss and whether Company deems it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) . If the Company shall determine that such rebuilding, repairing, restoring or replacing is not practicable and desirable, then the Company shall (at have the Company’s expense) right to terminate this Lease from the date of such damage or destruction by giving written notice to the City. Upon giving such notice, Company shall immediately surrender the Leased Premises and all interest therein to the City. In case of such termination, the City may re- enter and repossess the Leased Premises, the proceeds of any applicable casualty or property insurance received or payable with respect to such damage or loss to the Leased Premises shall be the property of the City, and the Company shall immediately pay to the City an amount equal to the greater of the deductibles for any applicable insurance or the cost of rebuilding, repairing, restoring or replacing such damage or loss to the Leased Premises. If the Company shall determine that rebuilding, repairing, restoring or replacing is practicable and desirable, then the Company shall forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, in which case any Net Proceeds proceeds of casualty or property and/or casualty insurance required by this Lease Lease, and received or payable with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and Leased Premises shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in If such insurance proceeds are insufficient to rebuild, repair, restore or replace the Project Fund after such rebuildingdamage or loss to the Leased Premises, repairing, restoring or replacing then Company shall pay all additional amounts required. In the event the Leased Premises shall be paid to rebuilt, repaired, restored or replaced by the Company. (c) If , then such damage or loss shall not void or terminate this Lease, except that the Company shall determine be entitled to a proportionate reduction of rent if there is a substantial interference with the Company's business while repairs or restorations are being made. b. If such damage or loss is such that rebuildingless than fifty percent (50%) of the Leased Premises are unfit for occupancy or use, repairingor if no part of the Leased Premises are made unfit for occupancy or use, restoring then the Company shall forthwith proceed with and complete with reasonable dispatch, all repairs necessary to restore the Leased Premises. Any proceeds of casualty or replacing the Improvements are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease Lease, and received or payable with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys Leased Premises shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to applied for the Company within 30 days. The Company agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company shall not, by reason purpose of its inability to use all or any part of paying the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs cost of such rebuilding, repairing, restoring or replacingreplacing such damage or loss. If such insurance proceeds are insufficient to pay such costs, then the Company shall pay all additional amounts required. Such partial damage or destruction to the Leased Premises shall not void or terminate this Lease, except that the Company shall be entitled to any reimbursement a proportionate reduction of rent if there is a substantial interference with Company's business while repairs or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company under this Lease nor of any other obligations of the Company under this Lease except as expressly provided in this Sectionrestorations are being made.

Damage and Destruction. (a) If, during the Term, the any Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the CompanyTenant. (c) If the Company Tenant shall reasonably determine that rebuilding, repairing, restoring or replacing the Improvements are is not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project Leased Property shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysDebt Service Fund. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during If the Term, the Improvements are Project is destroyed or is damaged or destroyed, in whole or in part, by fire or other casualty, in whole or in excess of 50% of the full replacement cost thereof, the Company shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, repair or restore or replace such damage or loss. (b) If the Company shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in If the Project Fund after Company elects, the Company shall apply so much of its own funds as may be necessary, and so much as may be necessary of the Net Proceeds of insurance, to the payment of the costs of such rebuilding, repairingrepairing and restoring. The rebuilt, restoring repaired or replacing restored assets constituting Buildings shall constitute part of the Project owned by the State leased to the Issuer under the State Lease, and shall be paid subject to this Agreement. The rebuilt, repaired or restored assets constituting Equipment shall constitute part of the Project owned by the Issuer, and shall be subject to this Agreement. Any balance of such Net Proceeds remaining after payment of all the costs of such rebuilding, repairing and restoring shall be and remain the Company. (c) If ’s own funds. The Company may elect to cause all of the Company shall determine that rebuilding, repairing, restoring or replacing the Improvements are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required received by this Lease and received with respect to reason of any such damage or loss destruction of the Project (or as much thereof as may be required to redeem the Bonds in whole) to be deposited into the Bond Fund and applied to the Project redemption of the Bonds, and if the Bonds are redeemed in whole, any excess Net Proceeds shall be paid into retained by the Principal and Interest Payment AccountCompany. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 days. The Company agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company shall not, by reason of its inability to use all or any part of the Improvements Project during any period in which the Improvements are Project is damaged or destroyed, or are is being repaired, rebuiltrebuilt or restored, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring repairing or replacingrestoring, be entitled to any reimbursement from the Issuer, or the Holder or owner of the Bonds or any abatement or diminution of the Basic Rent rents or Additional Rent other amounts payable by the Company under this Lease nor of any other obligations of the Company under this Lease except as expressly provided in this SectionSection 5.3 hereof.

Damage and Destruction. (a) If, during the Basic Term, the Improvements are Project is damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing writ- ing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements Project shall be paid to the Trustee and shall be deposited in the Project Replacement Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Replacement Fund after such rebuilding, repairing, restoring or replacing shall be paid to deposited into the CompanyPrincipal and Interest Payment Account. (c) If the Company Tenant shall determine that rebuilding, repairing, restoring or replacing the Improvements Project are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 days. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements Project during any period in which the Improvements are Project is damaged or destroyed, or are is being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Basic Term, the Improvements are Project is damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacingreplacing of the property damaged or destroyed so as to place the Project in substantially the same condition as existed prior to the event causing such damage or destruction, with such changes, alterations and modifications (including the substitution and addition of other property) as may be desired by the Tenant and as will not impair the operating unity or productive capacity of the Project. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements Project shall be paid to the Trustee and shall be deposited in the Project Replacement Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Replacement Fund after such rebuilding, repairing, restoring or replacing shall be paid to deposited into the CompanyDebt Service Fund. (c) If the Company Tenant shall determine that rebuilding, repairing, restoring or replacing the Improvements are Project is not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal Debt Service Fund and Interest Payment Account. Such moneys shall be used to redeem Bonds at their on the earliest optional possible redemption date and any balance thereafter shall be refunded pursuant to ARTICLE III of the Company within 30 daysIndenture. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements Project during any period in which the Improvements are Project is damaged or destroyed, or are is being repaired, rebuilt, restored or replaced nor or by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor or of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section. (e) Anything in this Article to the contrary notwithstanding, the Issuer and Trustee shall have the right at any time and from time to time to withhold payment of all or any part of the Net Proceeds attributable to damage or destruction of the Project to the Tenant or any third party from the Project Replacement Fund if a Lease Event of Default has occurred and is continuing, or the Issuer or Trustee has given notice to the Tenant of any Default which, with the passage of time, will become a Lease Event of Default. In the event the Tenant shall cure any Defaults specified herein, the Trustee may make payments from the Net Proceeds to the Tenant in accordance with the provisions of this Article. However, if this Lease is terminated or the Issuer or the Trustee otherwise re-enters and takes possession of the Project without terminating this Lease, the Trustee shall pay all the Net Proceeds held by it in the Project Replacement Fund into the Debt Service Fund, and all rights of the Tenant in and to such Net Proceeds shall cease.

Damage and Destruction. (a) If, during the Basic Term, the Improvements are Project is damaged or destroyed, in whole or in part, by fire or other casualty, the Company Corporation shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Corporation shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Corporation shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements Project shall be paid to the Trustee and shall be deposited in the Project Replacement Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Replacement Fund after such rebuilding, repairing, restoring or replacing shall be paid deposited into the Principal and Interest Payment Account and used to pay principal of the CompanyBonds. (c) If the Company Corporation shall determine that rebuilding, repairing, restoring or replacing the Improvements Project are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 days. The Company Corporation agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Corporation shall not, by reason of its inability to use all or any part of the Improvements Project during any period in which the Improvements are Project is damaged or destroyed, or are is being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Corporation under this Lease nor of any other obligations of the Company Corporation under this Lease except as expressly provided in this Section. (e) Anything in this Article to the contrary notwithstanding, the Issuer and Trustee shall have the right at any time and from time to time to withhold payment of all or any part of the Net Proceeds from the Project Replacement Fund attributable to damage or destruction of the Project to Corporation or any third party if an Event of Default has occurred and is continuing, or Issuer or Trustee has given notice to Corporation of any Default which, with the passage of time, will become an Event of Default. In the event Corporation shall cure any Defaults specified herein, the Trustee may make payments from the Net Proceeds to Corporation in accordance with the provisions of this Article. However, if this Lease is terminated or Issuer or Trustee otherwise re-enters and takes possession of the Project without terminating this Lease, the Trustee shall pay all the Net Proceeds held by it into the Principal and Interest Payment Account and all rights of the Corporation in and to such Net Proceeds shall cease.

Damage and Destruction. (a) If, during the Basic Term, the Improvements are Project is damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements Project shall be paid to the Trustee and shall be deposited in the Project Replacement Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Replacement Fund after such rebuilding, repairing, restoring or replacing shall be paid to deposited into the CompanyPrincipal and Interest Payment Account. (c) If the Company Tenant shall determine that rebuilding, repairing, restoring or replacing the Improvements Project are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 days. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements Project during any period in which the Improvements are Project is damaged or destroyed, or are is being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Term, the any Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the CompanyTenant. (c) If the Company Tenant shall determine that rebuilding, repairing, restoring or replacing the Improvements are not practicable and desirable, any Net Proceeds proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysdate. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section.

Damage and Destruction. (a) If, during the Term, the any Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the CompanyTenant. (c) If the Company Tenant shall reasonably determine that rebuilding, repairing, restoring or replacing the Improvements are is not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment AccountDebt Service Fund. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysdate. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c). (d) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section.

Damage and Destruction. (aA) If, during the Basic Term, the Improvements are Project is damaged or destroyed, in whole or in part, by fire or other casualty, the Company Tenant shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (bB) If the Company Tenant shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, so long as the Company Tenant is not in default hereunder, the Tenant shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements Project shall be paid to the Trustee and shall be deposited in the Project Replacement Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Replacement Fund after such rebuilding, repairing, restoring or replacing shall be paid deposited into the Principal and Interest Payment Account and used to pay a like amount of principal of the CompanyBonds on their next available call date. (cC) If the Company Tenant shall be in default hereunder or otherwise determine that rebuilding, repairing, restoring or replacing the Improvements Project are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be Account and used to redeem pay a like amount of principal of the Bonds at on their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 daysnext available call date. The Company Tenant agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c)subsection. (dD) The Company Tenant shall not, by reason of its inability to use all or any part of the Improvements Project during any period in which the Improvements are Project is damaged or destroyed, or are is being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company Tenant under this Lease nor of any other obligations of the Company Tenant under this Lease except as expressly provided in this Section.