Common use of Damage or Destruction by Fire or Other Casualty Clause in Contracts

Damage or Destruction by Fire or Other Casualty. If, during the Term, the Premises is partially or totally damaged or destroyed by fire or other casualty, Tenant shall, at its sole cost and expense, repair and restore the Premises as speedily as possible, to the value, character and condition existing prior to such damage or destruction in accordance with the provisions of this Lease applicable to maintenance and repair, alterations and restoration. If the insurance proceeds resulting from such fire or other casualty are payable to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, then the obligation of Tenant to so repair and restore the Premises shall be subject to the availability to Tenant of such proceeds to the extent needed to pay for such repair or restoration, In the event insurance proceeds are not made available to the Tenant, then Tenant shall not be obligated to repair and restore the Premises until such time as Landlord has made available to Tenant funds in an amount equal to the insurance proceeds paid to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, and Rent shall continue to be paid by Tenant for so long as rent loss and/or business interruption insurance proceeds are available, after which Rent shall xxxxx; provided, however, if Landlord fails to make such funds available within twelve (12) months after the date of such casualty, Tenant shall have the right to cancel and terminate this Lease. Landlord shall use commercially reasonable efforts in good faith at Tenant’s expense to cause insurance proceeds to be made available to Tenant by Landlord’s Mortgagee for purposes of such repair and restoration. Tenant shall be obligated to meet all reasonable conditions imposed on the use of any such insurance proceeds by the Landlord’s Mortgagee. If such insurance proceeds are made available to Tenant by the Landlord’s Mortgagee or the holder of any future Mortgage Debt and are insufficient to repair and restore the Premises, Tenant shall be required to make up such deficiency out of Tenant’s own funds. Except as provided above, there shall be no abatement or reduction of any Rent under this Lease due to any such damage, destruction or repair or restoration and Tenant shall have no right to terminate this Lease notwithstanding the partial or total destruction of all or any part of the Premises.

Damage or Destruction by Fire or Other Casualty. If, during (a) In the Term, the Premises is partially event of any damage or totally damaged or destroyed loss by fire or other casualtyinsurable casualty to the Leased Premises, Tenant shall give immediate notice thereof and Landlord shall, at its sole cost and expensewith reasonable diligence, repair and restore the Leased Premises or the portion thereof so damaged, as speedily nearly as possible, possible to the value, character and condition existing of the same immediately prior to such damage. (b) In the event that the Leased Premises shall be totally destroyed or so substantially damaged by fire or other insurable casualty, so that the repair and restoration thereof would be impracticable, Landlord shall give notice thereof to Tenant and Tenant’s obligations herunder shall be terminated. (c) If by reason of any damage or destruction of improvements on the Leased Premises, any sums are paid under any insurance policy, such insurance proceeds shall be paid over to Landlord, if permitted by Landlord's Mortgagee, and Landlord shall hold the same as a trust fund to be used first for the payment of the entire cost of restoring, repairing and rebuilding the damaged or destroyed improvements before using the same for any other purpose. Each such payment shall be held by Landlord in trust and shall be used solely by Landlord for the payment of the cost of the work and materials. If there shall remain any balance of insurance monies after any damaged or destroyed improvements shall have been completely restored or replaced, as evidenced by a certificate of an independent engineer or independent architect delivered to Landlord and Tenant, such balance of insurance monies shall be paid to Landlord, if permitted by Landlord's Mortgagee. (d) Upon the expiration or sooner termination of this Lease, however caused, any insurance proceeds then held by Landlord shall be retained by landlord, if permitted by Landlord's Mortgagee. (e) Notwithstanding anything else contained in this Section, if the Leased Premises be damaged or destroyed, Landlord shall have the option within sixty (60) days from the date of such damage or destruction to terminate this Lease by giving notice to Tenant, which termination shall be effective not less than thirty (30) days after the giving of such notice, and thereupon this Lease shall cease and come to an end on the date specified in accordance such notice, with the provisions same force and effect as if such date were the date heretofore fixed for the expiration of this Lease applicable the term herein demised; and Tenant thereupon shall make payment of all rent and the other sums and charges payable by Tenant hereunder, justly apportioned to maintenance the date of such termination. In the event of such termination, Tenant shall not be required to repair the damage, and repairall insurance monies payable as a result of such damage or destruction shall belong and be paid to Landlord and Landlord's Mortgagee, alterations and restoration. If as their interests may appear. (f) No destruction of or damage to the insurance proceeds resulting from such improvements, or any part thereof, by fire or other casualty are whatsoever, whether such damage or destruction be partial or total or otherwise, shall entitle or permit Tenant to surrender or terminate this Lease or shall relieve Tenant from Its liability to pay in fall all rent and other sums and charges payable by Tenant hereunder, or from any of its other obligations under this Lease, except that Tenant shall not be required to pay rent or other expenses at the time and to the Landlord’s Mortgagee extent same are paid to Landlord by loss of rent or the holder of any future Mortgage Debtrental value insurance. (g) Any repair, then the obligation of restoration or replacement work to be performed by Tenant to so repair and restore the Premises shall be subject to the availability to Tenant of such proceeds to the extent needed to pay for such repair or restoration, In the event insurance proceeds are not made available to the Tenant, then Tenant shall not be obligated to repair and restore the Premises until such time as Landlord has made available to Tenant funds in an amount equal to the insurance proceeds paid to the Landlord’s Mortgagee or the holder of any future Mortgage Debtprior written approval, including but not limited to all plans and specifications, and Rent shall continue to be paid all architects, engineers, general contractors and major subcontractors engaged by Tenant for so long as rent loss and/or business interruption insurance proceeds are available, after which Rent shall xxxxx; provided, however, if Landlord fails to make such funds available within twelve (12) months after the date of such casualty, Tenant shall have the right to cancel and terminate this Lease. Landlord shall use commercially reasonable efforts in good faith at Tenant’s expense to cause insurance proceeds to be made available to Tenant by Landlord’s Mortgagee for purposes of such repair and restoration. Tenant shall be obligated to meet all reasonable conditions imposed on the use of perform any such insurance proceeds by the Landlord’s Mortgagee. If such insurance proceeds are made available to Tenant by the Landlord’s Mortgagee or the holder of any future Mortgage Debt and are insufficient to repair and restore the Premises, Tenant shall be required to make up such deficiency out of Tenant’s own funds. Except as provided above, there shall be no abatement or reduction of any Rent under this Lease due to any such damage, destruction or repair or restoration and Tenant shall have no right to terminate this Lease notwithstanding the partial or total destruction of all or any part of the Premiseswork.

Damage or Destruction by Fire or Other Casualty. If, during (a) If the Term, the Premises Building is partially or totally damaged or destroyed by fire or other casualtycasualty to such extent that the cost of restoration, Tenant shallas determined by an insurance adjustor licensed in the State of New Jersey, at its sole cost and expense, repair and restore will equal or exceed fifty (50) percent of the Premises as speedily as possible, replacement value of the Building (exclusive of foundations) just prior to the valueoccurrence of the damage, character and condition existing prior then either Landlord or Tenant may, within sixty (60) days from the date of the damage, give the other party a written notice of election to terminate this Lease, effective thirty (30) days from the date of such damage or destruction notice. However, in accordance with the provisions of event that neither party terminates this Lease applicable to maintenance and repair, alterations and restoration. If the insurance proceeds resulting from in such fire or other casualty are payable to the Landlord’s Mortgagee or the holder of any future Mortgage Debtcircumstance, then the obligation of Tenant to so repair basic rent and restore the Premises additional rent shall be subject abated in direct proportion to that amount of square footage in the availability to Tenant of such proceeds to the extent needed to pay for such repair or restoration, In the event insurance proceeds are not made available to the Tenant, then Tenant shall Demised Premises which cannot be obligated to repair and restore the Premises until such time as Landlord has made available to Tenant funds in an amount equal to the insurance proceeds paid to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, and Rent shall continue to be paid used by Tenant for so long the purposes set forth in Paragraph 1 herein, which abatement shall be effective as rent loss and/or business interruption insurance proceeds are availableof the date of the casualty. In addition, after which Rent Landlord shall xxxxx; provided, however, if Landlord fails to make such funds available be responsible for making restoration within twelve one hundred eighty (12180) months days after the date of such casualtythe damage, subject to Force Majeure. In the event that restoration is not made within said time period, Tenant shall have the right to cancel and terminate this Lease, upon thirty (30) days written notice to Landlord. Notwithstanding anything to the contrary contained herein, if the casualty occurs in a manner that affects telephones, computers, electronic equipment and the like such that Tenant is unable to conduct its business, then the entire rent shall be abated as of the date of the casualty until such time as these essential services have been restored. (b) If the Building is damaged by fire or other casualty to such extent that the cost of restoration, as determined by an insurance adjustor licensed in the State of New Jersey, will be less than (50) percent of the replacement value of the Building (exclusive of foundations) just prior to the occurrence of the damage, then the basic rent and additional rent shall be abated in direct proportion to that amount of square footage in the Demised Premises which cannot be used by Tenant for the purposes set forth in Paragraph 1 herein. In addition, Landlord shall use commercially reasonable efforts in good faith at Tenant’s expense be responsible for making restoration within one hundred eighty (180) days after the date of the damage, subject to cause insurance proceeds to be Force Majeure. In the event that restoration is not made available to Tenant by Landlord’s Mortgagee for purposes of such repair and restoration. Tenant shall be obligated to meet all reasonable conditions imposed on the use of any such insurance proceeds by the Landlord’s Mortgagee. If such insurance proceeds are made available to Tenant by the Landlord’s Mortgagee or the holder of any future Mortgage Debt and are insufficient to repair and restore the Premiseswithin said time period, Tenant shall be required to make up such deficiency out of Tenant’s own funds. Except as provided above, there shall be no abatement or reduction of any Rent under this Lease due to any such damage, destruction or repair or restoration and Tenant shall have no the right to terminate this Lease notwithstanding Lease, upon thirty (30) days written notice to Landlord. Notwithstanding anything to the partial or total destruction of all or any part contrary contained herein, if the casualty occurs in a manner that affects telephones, computers, electronic equipment and the like such that Tenant is unable to conduct its business, then the entire rent shall be abated as of the Premisesdate of the casualty until such time as these essential services have been restored.

Damage or Destruction by Fire or Other Casualty. If, during If the Term, the Demised Premises is partially or totally any part thereof shall be substantially damaged or destroyed by fire or other casualty, Tenant shall, at its sole cost and expense, Landlord shall promptly repair all such damage and restore the Demised Premises as speedily as possiblewithout expense to Tenant, subject to the valuedelays due to adjustment of insurance claims, character strikes and condition existing prior to other causes beyond Landlord's control. If such damage or destruction shall render the Demised Premises untenable in accordance with whole or in part, the provisions of this Lease applicable to maintenance rent shall be abated wholly or proportionally as the case may be until the damage shall be repaired and repair, alterations and restorationthe Demised Premises restored. If the insurance proceeds resulting from such fire damage or other casualty are payable to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, then the obligation of Tenant to so repair and restore the Premises destruction shall be subject so extensive as to require the availability to substantial rebuilding (i.e., expenditure of fifty (50%) percent or more of replacement cost) of the building or buildings of which the Demised Premises are a part, Landlord or Tenant of such proceeds to the extent needed to pay for such repair or restoration, In the event insurance proceeds are not made available to the Tenant, then Tenant shall not be obligated to repair and restore the Premises until such time as Landlord has made available to Tenant funds in an amount equal to the insurance proceeds paid to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, and Rent shall continue to be paid by Tenant for so long as rent loss and/or business interruption insurance proceeds are available, after which Rent shall xxxxx; provided, however, if Landlord fails to make such funds available within twelve (12) months after the date of such casualty, Tenant shall have the right to cancel and terminate this Lease. Landlord shall use commercially reasonable efforts in good faith at Tenant’s expense to cause insurance proceeds to be made available to Tenant by Landlord’s Mortgagee for purposes of such repair and restoration. Tenant shall be obligated to meet all reasonable conditions imposed on the use of any such insurance proceeds by the Landlord’s Mortgagee. If such insurance proceeds are made available to Tenant by the Landlord’s Mortgagee or the holder of any future Mortgage Debt and are insufficient to repair and restore the Premises, Tenant shall be required to make up such deficiency out of Tenant’s own funds. Except as provided above, there shall be no abatement or reduction of any Rent under this Lease due to any such damage, destruction or repair or restoration and Tenant shall have no right may elect to terminate this Lease notwithstanding by written notice to the partial other given thirty (30) days after the occurrence of such damage or total destruction destruction, unless the Landlord has contracted for or begun reconstruction. If it is anticipated that said rebuilding will take in excess of one hundred twenty (120) days, Landlord shall notify Tenant and Tenant shall be give the option of canceling said Lease within five (5) working days of said notification or Landlord may rebuild or contract for said rebuilding of which the Demised Premises are a part. Landlord and Tenant hereby release each other from liability for loss or damage occurring on or to the Demised Premises or the premises of which they are a part or to the contents of either thereof, caused by fire or other hazards ordinarily covered by fire and extended coverage insurance policies and each waives all rights of recovery against the other for such loss or any damage. Willful misconduct lawfully attributable to either party, whether in whole or in part a contributing cause of the Premisescasualty giving rise to the loss or damage, shall not be excused under the foregoing release and waiver. Landlord hereby agrees to keep the building insured against fire and other perils normally covered by fire; and extended coverage. Tenant waives any right or claim to the proceeds of such insurance.

Damage or Destruction by Fire or Other Casualty. If, during the Term, the Premises Premises, or the Property comprising part of the Premises, is partially or totally damaged or destroyed by fire or other casualty, Tenant shall, at its sole cost and expense, repair and restore the Premises and/or the Property, as applicable, as speedily as possible, to the value, character and condition existing prior to such damage or destruction in accordance with the provisions of this Lease applicable to maintenance and repair, alterations and restoration. If the , regardless of whether Tenant receives sufficient insurance proceeds resulting from such fire or other casualty are payable to the Landlord’s Mortgagee or the holder of any future Mortgage Debtproceeds, then the obligation of Tenant to so repair and restore the Premises shall be subject to the availability to Tenant of such proceeds to the extent needed to pay for such repair or restoration, In the event provisions below. Where insurance proceeds are not made available to the Tenantavailable, then Tenant shall not be obligated to begin to repair and restore the Premises Property until such time as Landlord has such insurance proceeds have been made available to Tenant funds in an amount equal to the insurance proceeds paid to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, and Rent shall continue to be paid by Tenant for so long as rent loss and/or business interruption insurance proceeds are available, after which Rent shall xxxxxTenant; provided, however, if that Tenant shall take reasonable steps to ensure that the affected Property is secure and does not pose unreasonable risk of harm to adjoining property and/or persons. Upon the written request of Txxxxx (accompanied by evidence reasonably satisfactory to Landlord fails to make that such funds available within twelve (12) months after the date amount has been paid or is due and payable and is properly part of such costs), Landlord shall promptly make available in installments, an amount up to but not exceeding the amount of any insurance proceeds received by Landlord with respect to such casualty, Tenant shall have the right to cancel and terminate this Lease. Landlord shall use commercially reasonable efforts in good faith at Tenant’s expense to cause insurance proceeds to be made available to Tenant by Landlord or Landlord’s Mortgagee for purposes of such repair and restoration. Provided that Landlord has received evidence reasonably satisfactory to Landlord that the Premises and Property have been restored and repaired to at least the value, character and condition existing prior to such damage or destruction, then Tenant shall be obligated entitled to meet all reasonable conditions imposed on keep any portion of the use of any such insurance proceeds by which may be in excess of the Landlord’s Mortgageecost of restoration. If such insurance proceeds are made available to Tenant by the Landlord’s Mortgagee or the holder of any future Mortgage Debt and are insufficient to repair and restore the Premises, Tenant shall be required to make up bear all additional costs of such deficiency out restoration in excess of Tenant’s own fundsthe insurance proceeds. Except as provided above, there There shall be no abatement or reduction of any Rent under this Lease due to any such damage, destruction or repair or restoration and Tenant shall have no right to terminate this Lease notwithstanding Lease. Notwithstanding anything to the partial contrary contained herein, if the Property comprising the Premises is totally destroyed by fire or total destruction of all or any part other casualty, or, as to a material portion of the PremisesProperty, is partially destroyed by fire or other casualty and the time to restore the Property is reasonably estimated to take longer than one hundred eighty (180) days, and fewer than two (2) years remain in the Term at the time of the casualty, then Tenant shall have the right to cancel and terminate this Lease upon written notice to Landlord, provided within 60 days of the date of the casualty, in which case Landlord shall be entitled to such insurance proceeds. Upon Txxxxx’s notice to Landlord of Tenant’s election to terminate this Lease, the Lease shall automatically terminate, and the Term hereof shall come to an end with the same force and effect as if the Term of the Lease, by the terms and provisions hereof, were to expire on such date.

Damage or Destruction by Fire or Other Casualty. If, during If the Term, the Leased Premises is partially or totally damaged or destroyed by fire fire, flood, tornado, or other by the elements, or through any casualty, Tenant shallor otherwise, after the commencement of the Lease Term, this lease shall continue in full force and effect, and Landlord at its sole cost and expenseexpense shall promptly restore, repair and restore or rebuild the Leased Premises as speedily as possibleincluding but not limited to the store front, to the valuesame condition as it existed when the possession of the Leased Premises were turned over to the Tenant at the commencement of the Lease Term, character and condition existing prior to within (90) days after such damage or destruction in accordance with the provisions of this Lease applicable to maintenance and repair, alterations and restorationdestruction. If the insurance proceeds resulting from such fire or other casualty are payable to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, then the obligation of Tenant to so repair and restore the Premises shall be subject to the availability to Tenant of such proceeds to the extent needed to pay for such repair or restoration, In the event insurance proceeds are not made available to the Tenant, then Tenant shall not be obligated to repair and restore the Premises until such time as Landlord has made available to Tenant funds in an amount equal to the insurance proceeds paid to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, and Rent shall continue to be paid by Tenant for so long as rent loss and/or business interruption insurance proceeds are available, after which Rent shall xxxxx; provided, however, if Landlord fails to make such funds available within twelve (12) months after restore the Leased Premises as aforesaid, Tenant's sole remedy against Landlord shall be to terminate this lease as of the date of such casualty. Rent and additional rent, if any, shall abatx xxxm the date of such damage or destruction until ten (10) days after Landlord has repaired or restored the building in the manner and in the condition provided in this Section and notified Tenant of such fact. In the event that a part only of the Leased Premises is untenantable or incapable of use for the normal conduct of Tenant's business therein, a just and proportionate part of the rent shall be abated from the date of such damage until (10) days after Landlord has completely repaired same and notified Tenant of such fact. In the event that the Leased Premises shall be damaged in whole or in substantial part within No damage or destruction to the Leased Premises shall allow Tenant to surrender possession of the Leased Premises nor affect Tenant's liability for the payment of rent or any other covenant contained herein, except as may be specifically provided in this lease. Notwithstanding any of the provisions herein to the contrary, Landlord shall have no obligation to rebuild the right to cancel and terminate this Lease. Landlord shall use commercially reasonable efforts in good faith at Tenant’s expense to cause insurance proceeds to be made available to Tenant premises unless the damage or destruction is a result of a casualty covered by Landlord’s Mortgagee for purposes of such repair and restoration's insurance policy. Tenant shall be obligated give to meet all reasonable conditions imposed on the use Landlord prompt written notice of any such insurance proceeds by the Landlord’s Mortgagee. If such insurance proceeds are made available damage to Tenant by the Landlord’s Mortgagee or the holder destruction of any future Mortgage Debt and are insufficient to repair and restore the Premises, Tenant shall be required to make up such deficiency out of Tenant’s own funds. Except as provided above, there shall be no abatement or reduction of any Rent under this Lease due to any such damage, destruction or repair or restoration and Tenant shall have no right to terminate this Lease notwithstanding the partial or total destruction of all or any part portion of the PremisesLeased Premises resulting from fire or other casualty.