DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs a...
DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 5.1, Landlord shall proceed with reasonable diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord, to repair or cause to be repaired such damage. All such repairs made necessary by any act or omission of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs are less than the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant unless such property is covered by Landlord’s insurance. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of s uch damage, the Fixed Rent or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been made tenantable and have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty, provided, however, that if Landlord or any mortgagee of the Premises shall be unable to collect the insurance proceeds (including rent insurance proceeds) applicable to such damage solely because of some action or inaction on the part of Tenant, or the employees, licensees or invitees of Tenant, the cost of repairing such damage shall be paid by Tenant and there shall be no abatement of rent. Between 30 and 60 days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within 30 days after such inquiry but by no later than 60 days after the date of such casualty, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than 180 days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within 30 days after Tenant’s receipt of Landlord’s architect’s estimate. If Landlord falls to commence repairs within sixty (60) days after such damage, and such failure is not due to causes beyond the co...
DAMAGE BY FIRE OR CASUALTY. If the Property is damaged by fire, casualty, or other cause that’s not your fault, the fault of your guests, or anyone on the Property with your consent, we will promptly repair and restore the damaged areas to their former condition as long as we can complete the repairs within 30 working days after they’re started. If repairs can’t be completed within 30 days, or if the loss isn’t covered by our insurance policies, then either of us may terminate this Lease by giving the other party a 30-day written notice. If this Lease is not terminated, we’ll adjust the rent during the restoration of the Property in proportion to the extent that you’re prevented from fully occupying it. If the Lease is terminated under these circumstances, then the remaining rent due and the amount of your Security Deposit will be computed as of the date of your vacancy. Only the damage to the Property and its structure will be repaired. We’re not liable for any damage to your personal property unless the damage was caused by our negligence, our willful conduct, or that of our employees. For example, if during a heavy snowstorm the roof collapses, the resulting damage to your personal belongings within the Property is not our responsibility unless we or our employees had been negligent or willful in our failure to maintain the structural integrity of the roof.
DAMAGE BY FIRE OR CASUALTY. (a) If the demised premises shall be destroyed or damaged, from whatsoever cause, so as to render them unfit for the purposes for which leased, and if it is reasonably possible to repair such destruction or damage within ninety (90) days, then Tenant shall not be entitled to surrender possession of the demised premises without the prior written consent of Landlord, but Landlord shall proceed to repair the destruction or damage with all reasonable speed and shall complete the same within ninety (90) days.
(b) If the demised premises shall be destroyed or damaged, from whatsoever cause, so as to render them unfit for the purposes for which leased, and if it is not at all reasonably possible to repair such destruction or damage within ninety (90) days, then each party shall have the option, by written notice given to the other within fifteen (15) days after such destruction or damage, to terminate this Lease as of eight
DAMAGE BY FIRE OR CASUALTY. This Lease is made on condition that, if the premises or any part hereof, or the elevators, hallways, stairways or other approaches thereto, is damaged or destroyed by fire or other casualty from any cause, so as to render said premises and/or approaches unfit for the use and occupancy, a just and proportionate part of the rent, according to the nature and extent of the injury to said premises and/or approaches, shall be suspended or abated until said premises and have been put in as good condition for use and occupancy as at the time
DAMAGE BY FIRE OR CASUALTY. (a) If the Premises are damaged by fire or other casualty, but are not thereby rendered untenantable in whole or in part, Landlord, at its own expense, and subject to the limitations set forth in this Lease, shall cause such damage to be repaired and the Minimum Rent and Additional Rent shall not be abated.
DAMAGE BY FIRE OR CASUALTY. (a) If the Premises are damaged by fire or other casualty, but are not thereby rendered untenantable in whole or in part, Landlord, at its own expense, and subject to the limitations set forth in this Lease, shall cause such damage to be repaired and the Minimum Rent and Additional Rent shall not be abated.
(ii) Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within thirty (30) days of the occurrence of such damage or destruction, to terminate this Lease, whereupon the Minimum Rent and Additional Rent shall be adjusted as of the date of such termination.
(b) In the event that twenty-five percent (25%) or more of the rentable floor area of the Building shall be damaged or destroyed by fire or other cause, notwithstanding that the Premises may be unaffected by such fire or other damage, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within thirty (30) days after such occurrence, to terminate this Lease. Upon the giving of such notice, the Minimum Rent and Additional Rent shall be adjusted as of the date of termination and this Lease shall thereupon terminate.
DAMAGE BY FIRE OR CASUALTY. (a) In the event of damage to or destruction of the Building or any part thereof, by fire or any other casualty, the Building shall be, subject to the provisions of this Section 17, and receipt of sufficient insurance proceeds, promptly and fully repaired and restored by Landlord with a contractor reasonably approved by Tenant within one hundred eighty (180) days after the receipt of such proceeds, but in no event longer than twelve (12) months, in which case Tenant shall have the right to terminate. There shall be an abatement of Rent until the first to occur of (i) Tenant opening for business to the public or (ii) sixty (60) days after Landlord completes such restoration.
(b) If during the last two (2) years of the Term, Tenant's Building is damaged as a result of fire or other casualty then Landlord or Tenant shall have the right to terminate this Lease upon notice to the other, and in such event the Lease shall be deemed to have terminated thirty (30) days after the giving of such notice. Provided if Landlord terminates and Tenant has remaining Renewal Terms, Tenant shall nullify the termination by exercising such Renewal Term by giving Landlord notice within thirty (30) days after such termination notice.
(c) The parties waive such rights of Lease termination as are granted to them under the laws of the state wherein the Premises is located, it being their agreement that the rights of termination in the event of casualty, as set forth herein, shall be exclusive.
DAMAGE BY FIRE OR CASUALTY. 14.1 In case of damage to The premises by fire or casualty or action of public authority in consequence thereof, LESSOR shall repair the damage, but shall not be required to expend in the repair of The Premises and any other portions of the entire property sustaining such damage more than the proceeds of such insurance. The work shall be commenced within thirty (30) days and completed with due diligence, except for delays due to governmental regulation, or causes beyond LESSOR's reasonable control, and LESSOR shall be entitled to receive and retain the proceeds of all insurance against the damage.
14.2 Notwithstanding the above provision, if one-third (1/3) or more of the rentable area of The Premises shall be so damaged and rendered untenantable, LESSOR or LESSEE may terminate this Lease upon thirty (30) days prior notice to the other.
DAMAGE BY FIRE OR CASUALTY. 8.1. Subject to the rights of any mortgagee to receive and apply available insurance proceeds to discharging Owner's indebtedness, Operator, as agent for Owner, shall repair, restore, rebuild and replace any damage to the Hotel Unit, caused by fire or insured casualty to the extent of (i) available insurance proceeds and (ii) funds otherwise available to Owner (i.e. as a loan(s) on reasonable terms). Operator shall negotiate the adjustment of the insurance loss, in consultation with Owner, and Owner shall consent to any adjustment agreed to, reasonably and in good faith, by Operator; provided, however, if the insurance loss claimed is greater than $100,000, (as adjusted pursuant to the Index), Owner shall be entitled to participate directly in such negotiation and if the amount of the adjustment is (i) more than $250,000 (as adjusted pursuant to the Index) or (ii) less than the sum of (a) the costs of repairs plus (b) any applicable deductible, such adjustment shall require Owner's prior approval. Any insurance proceeds to which Owner is entitled shall be delivered to and held by a mortgagee or commercial bank trustee, in a separate interest-bearing account, to be applied to the cost of such work. In the event that a third party adjuster is to be engaged by the Operator under this Section, Operator's selection of such third party adjuster shall be subject to Owner's prior approval.
8.2. If more than 50% of the Hotel Unit shall be damaged so that it is not useable as a resort hotel, Owner shall have no obligation to Operator to rebuild that portion of the Hotel, in which event Operator shall have the right to terminate this Agreement on ninety (90) days notice to Owner.
8.3. Operator's fees, including without limitation the fees described in ARTICLE VII, shall continue to be paid to Operator following a casualty and shall be based on the revenues realized for the most recent comparable period(s) of a calendar year in which there occurred no extraordinary event (such as a casualty).
8.4. Notwithstanding anything to the contrary in this Agreement, the rights of Operator pursuant to this Article shall be modified as necessary or appropriate to enable Owner to comply with the Declaration and to avoid legal liability in connection with the handling of casualty losses arising from reasonable claims by, or the rights of, Condominium Unit Owners and their mortgagees.
