Common use of Damage and Repair Clause in Contracts

Damage and Repair. A. If, during the Term, the Hotel shall be totally or partially destroyed and the Hotel is thereby rendered Unsuitable for Its Permitted Use, (1) Manager may terminate this Agreement by sixty (60) days notice to Owner and Landlord, or (2) Owner may terminate this Agreement by sixty (60) days notice to Manager and Landlord, whereupon, this Agreement, shall terminate and Landlord shall be entitled to retain the insurance proceeds payable on account of such damage.

Damage and Repair. A. If, during the Term, the Hotel shall be totally or partially destroyed and the Hotel is thereby rendered Unsuitable for Its Permitted Use, (1) Manager may terminate this Agreement by sixty (60) days days’ written notice to Owner Tenant and LandlordLandlord (which Termination shall not be deemed due to a Manager Default), or (2) Owner if the Lease has been terminated as a result of such casualty, Tenant may terminate this Agreement by sixty (60) days written notice to Manager and Landlord, whereupon, this AgreementAgreement and the Lease, shall terminate and Landlord shall be entitled to retain the insurance proceeds payable on account of such damage.

Damage and Repair. A. If, during the Term, the any Hotel shall be totally or partially destroyed and the such Hotel is thereby rendered Unsuitable for Its Permitted Use, (1) Manager may terminate this Agreement with respect to such Hotel by sixty (60) days days’ notice to the applicable Owner and Landlord, or (2) the applicable Owner may terminate this Agreement with respect to such Hotel by sixty (60) days days’ notice to Manager and the applicable Landlord, whereupon, this Agreement, Agreement shall terminate with respect to such Hotel and the applicable Landlord shall be entitled to retain the insurance proceeds payable on account of such damage.

Damage and Repair. A. If, during the Term, the Hotel shall be totally or partially destroyed and the Hotel is thereby rendered Unsuitable for Its Permitted Use, (1) Manager may terminate this Agreement by sixty (60) days notice to Owner and LandlordOwner, or (2) Owner may terminate this Agreement by sixty (60) days notice to Manager and LandlordManager, whereupon, this Agreement, shall terminate and Landlord shall be entitled to retain the insurance proceeds payable on account of such damage.