Common use of Damage Caused by Company Clause in Contracts

Damage Caused by Company. In the event that due to the negligence or willful act or omission of Company, its employees, its agents, or licensees, the Demised Premises shall be damaged or destroyed by fire, other casualty or otherwise, there shall be no abatement of rents during the repair or replacement of said Demised Premises. Notwithstanding anything to the contrary, the Company shall be responsible for any costs of repairs that exceed the amount of any insurance proceeds payable to Authority by reason of any such damage or destruction.

Damage Caused by Company. In the event that due to the negligence or willful act or omission of Company, its employees, its agentsagent, or licensees, the Demised Premises shall be damaged or destroyed by fire, other casualty or otherwise, there shall be no abatement of rents rent during the repair or replacement of said Demised Premises. Notwithstanding anything to To the contrary, extent that the Company shall be responsible for any costs of repairs that shall exceed the amount of any insurance proceeds payable to Authority by reason of any such damage or destruction, Company shall pay the amount of such additional costs to Authority upon receipt of Authority's invoice for such payment.