Damage by Fire or Other Casualty. Tenant shall promptly notify Landlord of any damage or destruction of any portion of the Premises (a “Casualty”) and diligently repair or reconstruct such portion of the Premises to a like or better condition than existed prior to such damage or destruction. Any net insurance proceeds payable with respect to the Casualty shall be paid directly to Landlord and, if an Event of Default has not occurred hereunder, may be used for the repair or reconstruction of the applicable portion of the Premises pursuant to Landlord’s disbursement requirements and subject to the provisions of the Facility Mortgage Documents and the release of insurance proceeds by the Facility Mortgagee, if any. If such proceeds are insufficient, Tenant shall provide the required additional funds; if they are more than sufficient, the surplus shall belong and be paid to Tenant. Except as expressly provided in the last sentence of this Section 18, Tenant shall not have any right under this Lease, and hereby waives all rights under applicable law, to xxxxx, reduce or offset Rent by reason of any damage or destruction of any portion of the Premises by reason of an insured or uninsured Casualty. If the Facility Mortgagee does not agree to release all of the insurance proceeds to reimburse Tenant and Landlord does not agree to reimburse Tenant up to the amount of such insurance proceeds in the event of a Casualty that renders the Facility unsuitable for its Permitted Use, Tenant shall have the right to terminate this Lease and remove the Facility from the Portfolio. Upon the removal of the Facility from the Portfolio, this Lease shall be of no further force or affect, except for any obligations or liability of any party hereunder that accrued on or prior to the date of the Casualty. In the event of a Casualty that does not render the Facility unsuitable for its Permitted Use, Tenant shall restore the Facility to substantially the same condition as existed immediately before the partial Casualty in accordance with the provisions of this Section 18, and the Rent shall be reduced on a pro rata basis based upon the number of beds removed from service and otherwise taking into consideration all relevant factors affecting the Facility resulting from such partial Casualty.
Damage by Fire or Other Casualty. In the event the Premises shall be partially or totally destroyed by fire or other casualty insured under the insurance carried by Landlord so as to become partially or totally untenantable, then the damage to the Premises shall be promptly repaired (unless Landlord shall elect not to rebuild as herein provided), and the Base Rent and Additional Rent shall be abated in proportion to the floor area of the Premises rendered untenantable. Payment of full rental so abated shall commence from the 5th day following the date that Landlord advises Tenant that the Premises are tenantable, unless Tenant resumes the use at an earlier time in the damaged area or continues use in such area following destruction or damage, in which event there shall be no abatement or any such abatement shall terminate as of the date of Tenant’s resumption of use, whichever shall apply. The obligation of Landlord hereunder shall be limited to reconstructing the Premises in accordance with the initial Plans for the original construction of the Premises by Landlord. In no event shall Landlord be required to repair or replace Tenant’s merchandise, trade fixtures, furnishings or equipment. The term of the Lease shall not be extended by any period for which the Premises are untenantable due to such casualty.
Damage by Fire or Other Casualty. (a) If the Premises or Building shall be damaged or destroyed by fire or other casualty, Tenant promptly shall notify Landlord and Landlord, subject to the conditions set forth in this Section 12, shall repair such damage and restore the Premises to substantially the same condition in which they were immediately prior to such damage or destruction, but not including the repair, restoration or replacement of the fixtures or alterations installed by Tenant. Landlord shall notify Tenant in writing, within 30 days after the date of the casualty, if Landlord anticipates that the restoration will take more than 180 days from the date of the casualty to complete; in such event, either Landlord or Tenant may terminate this lease effective as of the date of casualty by giving written notice to the other within 10 days after Landlord's notice. Further, if a casualty occurs during the last 12 months of the Term or any extension thereof, Landlord may cancel this lease unless Tenant has the right to extend the Term for at least 3 more years and does so within 30 days after the date of the casualty.
Damage by Fire or Other Casualty. If the Premises or Common Areas shall be damaged or destroyed by fire or other casualty, Tenant shall promptly notify Landlord, and Landlord, subject to the conditions set forth in this Section, shall repair such damage and restore the Premises or Common Areas to substantially the same condition in which they were immediately prior to such damage or destruction, but not including the repair, restoration or replacement of the fixtures, equipment, or Alterations installed by or on behalf of Tenant. Landlord shall notify Tenant, within 30 days after the date of the casualty, if Landlord anticipates that the restoration will take more than 180 days from the date of the casualty to complete; in such event, either Landlord or Tenant (unless the damage was caused by Tenant) may terminate this Lease effective as of the date of casualty by giving notice to the other within 10 days after Landlord’s notice. If a casualty occurs during the last 12 months of the Term, Landlord may terminate this Lease unless Tenant has the right to extend the Term for at least 3 more years and does so within 30 days after the date of the casualty. Moreover, Landlord may terminate this Lease if the loss is not covered by the insurance required to be maintained by Landlord under this Lease. Tenant will receive an abatement of Minimum Annual Rent and Annual Operating Expenses to the extent the Premises are rendered untenantable as a result of the casualty.
Damage by Fire or Other Casualty. If the Premises or the Common Areas shall be damaged or destroyed by fire or other casualty, Tenant shall promptly notify Landlord, and Landlord, subject to the conditions set forth in this Section 15, shall repair such damage and restore the Premises or Common Areas to substantially the same condition in which they were immediately prior to such damage or destruction, but not including the repair, restoration or replacement of the fixtures, equipment, or Alterations installed by or on behalf of Tenant. Landlord shall notify Tenant, within sixty (60) days after the date of the casualty of the length of time it anticipates that the restoration will take. If Landlord anticipates that the restoration will take more than twenty-four (24) months from the date of the date of the casualty, and if Tenant, in Tenant’s good faith judgment, (i) is reasonably unable to conduct its business, in the ordinary course, in more than fifty percent (50%) of the Premises (based on square footage) due to such damage, or (ii) is unable to reasonably and lawfully conduct the pharmacological or biological operations that Tenant conducts in the Phase 1-A area of the Building as a result of the casualty, then in either such event either Landlord or Tenant may terminate this Lease effective as of the date of casualty by giving notice to the other within thirty (30) days after Landlord’s notice. If Landlord advises Tenant that the casualty is not expected to take more than twenty-four (24) months from the date of casualty to fully repair and restore, but in fact takes more than twenty-four (24) months from casualty date to repair and restore, then Tenant shall have the right to terminate this Lease upon ninety (90) days’ notice to Landlord, unless Landlord shall complete its repair and restoration within such ninety (90) day period, in which event Tenant’s notice of termination shall be void. In addition, if a casualty occurs during the last twelve (12) months of the Term, and the cost to restore such damage shall exceed $2,000,000 Constant Dollars, either party may terminate this Lease; provided, however, that Landlord shall not have the right to terminate this Lease if Tenant has the right to extend the Term for at least three (3) more years and does so timely pursuant to the requirements of this Lease, but in any event within sixty (60) days following such casualty. Moreover, Landlord may terminate this Lease if the loss is not covered by the insurance required to be maintained by ...
Damage by Fire or Other Casualty. Sublessee shall promptly notify Sublessor of any damage or destruction of any portion of the Premises and diligently repair or reconstruct such portion of the Premises to a like or better condition than existed prior to such damage or destruction. Any net insurance proceeds payable with respect to the casualty shall be paid directly to Sublessor and, if an Event of Default has not occurred hereunder, may be used for the repair or reconstruction of the applicable portion of the Premises pursuant to Sublessor's reasonable disbursement requirements and subject to the provisions of the Facility Mortgage Documents and the release of insurance proceeds by the Facility Mortgagee, if any. If such proceeds are insufficient, Sublessee shall provide the required additional funds; if they are more than sufficient, the surplus shall belong and be paid to Sublessee. Sublessee shall not have any right under this Sublease, and hereby waives all rights under applicable law, to xxxxx, reduce or offset rent by reason of any damage or destruction of any portion of the Premises by reason of an insured or uninsured casualty.
Damage by Fire or Other Casualty. If the said premises be destroyed by fire or other casualty this lease shall immediately terminate. In case of partial destruction or damage, so as to render the premises untenantable, as determined by the Government, the Government may terminate the lease by giving written notice to the Lessor within fifteen (15) days thereafter; if so terminated no rent shall accrue to the Lessor after such partial destruction or damage; and if not so terminated the rent shall be reduced proportionately by supplemental agreement hereto effective from the date of such partial destruction or damage.
Damage by Fire or Other Casualty. Tenant shall promptly notify Landlord of any material damage or destruction of any portion of the Premises and diligently repair or reconstruct such portion of the Premises in a good and xxxxxxx like manner to a like or better condition than existed prior to such damage or destruction in accordance with Section 8.4. So long as no Event of Default exists, any award of insurance proceeds up to and including One Hundred Thousand Dollars ($100,000.00) shall be paid directly to Tenant. In the event that any award of net insurance proceeds payable with respect to the casualty are in excess of One Hundred Thousand Dollars ($100,000.00), such insurance proceeds (i) shall be paid directly to Landlord, and (ii) if no Event of Default exists, shall be made available to Tenant for the repair or reconstruction of the applicable portion of the Premises subject to the following disbursement requirements:
Damage by Fire or Other Casualty. Subject to the following sentences and to the last sentences of this Article, if, through no act, fault or negligence of Tenant or any of Tenant’s Agents, the Premises shall be partially damaged by fire or other casualty, the damage shall be repaired by Landlord within ninety (90) days, and the rent, until such repairs are made, shall be apportioned according to the portion of the Premises which are still usable. If the Premises and/or any portion of the Industrial Center shall be partially or totally damaged by fire or other casualty and such damage is caused, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage shall be repaired by Tenant, subject to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord a...
Damage by Fire or Other Casualty. In the event of loss of, or damage to, the Leased Premises or the Building by fire or other casualty, the rights and obligations of the parties hereto shall be as follows:
