DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event the Leased Premises and/or the Building of which the Leased Premises are a part shall be totally destroyed by fire or other casualty or so badly damaged that, in the opinion of Landlord, it is not feasible to repair or rebuild same, Landlord shall have the right to terminate this Lease upon written notice to Tenant. If the Leased Premises are partially damaged by fire or other casualty, except if caused by Tenant's negligence, and said Leased Premises are not rendered untenable thereby, as determined by Landlord, an appropriate reduction of the rent shall be allowed for the unoccupied portion of the Leased Premises until repair thereof shall be substantially completed. If the Landlord elects to exercise the right herein vested in it to terminate this Lease as a result of damage to or destruction of the Leased Premises or the Building in which the Leased Premises are located, said election shall be made by giving notice thereof to the Tenant within thirty (30) days after the date of said damage or destruction.
DAMAGE OR DESTRUCTION OF LEASED PREMISES. Provided that if during the continuation of this Lease, the Building or the Leased Premises are destroyed or damaged by any cause whatsoever, then the following provisions shall apply:
DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event the Leased Premises and/or the Building of which the Leased Premises are a part shall be totally destroyed by fire or other casualty or so badly damaged that, in the opinion of Landlord, it is not feasible to repair or rebuild same, Landlord shall have the right to terminate this Lease upon written notice to Tenant and all obligations of Tenant under this Lease shall cease. If the Leased Premises are partially damaged by fire or other casualty, except if caused by Tenant’s negligence, and said Leased Premises are not rendered untenable thereby, as determined by Landlord, an appropriate reduction of the rent shall be allowed for the unoccupied portion of the Leased Premises until repair thereof shall be substantially completed. If Landlord elects to exercise the right herein vested in it to terminate this Lease as a result of damage to or destruction of the Leased Premises or the Building in which the Leased Premises are located, said election shall be made by giving notice thereof to Tenant within ninety (90) days after the date of said damage or destruction. Notwithstanding the foregoing, Landlord shall not have any obligation whatsoever to repair, reconstruct or restore the Leased Premises or the Building when the damage resulting from any casualty covered under this Lease occurs during the last twelve (12) months of the term or any renewal term. Any option to renew this Lease that Tenant may be entitled to exercise shall be null and void if such option has not been exercised prior to any such casualty that occurs during the last twelve (12) months of the term or any renewal term and Landlord elects not to repair, reconstruct or restore the Leased Premises or the Building. Such restoration by Landlord shall not include replacement of Tenant’s trade fixtures, furniture, equipment or other items that do not become part of the Building or any improvements to the Leased Premises in excess of those provided for in the allowance (if any) for building standard items as of the Commencement Date of this Lease. Restoration of the Leased Premises required beyond Landlord’s obligation shall be performed by Tenant at no cost to Landlord. Tenant agrees that during any period of reconstruction or repair of the Leased Premises to continue the operation of business in the Leased Premises to the extent reasonably practicable. The Base Rent shall be abated or reduced proportionately to the proportion of the Leased Premises that has been damaged or destroyed du...
DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event that the leased premises are destroyed or damaged so as to be unfit for use by fire, storm, explosion, earthquake or other casualty, so as not to be capable of being economically rebuilt or restored within three hundred sixty-five (365) days, then this Lease shall be automatically terminated. Otherwise, Landlord shall proceed at its own expense and with due diligence to restore the premises within such three hundred sixty-five (365) days. In the event Landlord determines that the premises cannot be rebuilt or restored within three hundred sixty-five (365) days as provided hereinabove, then it shall give written notice of this decision to Tenant within fifteen (15) days from the date of the happening of such casualty, and this Lease shall terminate.
DAMAGE OR DESTRUCTION OF LEASED PREMISES. Tenant shall give prompt written notice to Landlord of any damage caused to the Leased Premises by fire or other casualty. In the event that the Leased Premises shall be damaged or destroyed by fire or other casualty and Landlord or Tenant does not elect to terminate this Lease as hereinafter provided, Landlord shall proceed with reasonable diligence and at its sole cost and expense (provided that Landlord shall receive and be entitled to use the proceeds of the fire and extended coverage insurance carried by Landlord or Tenant, as applicable, to complete such repairs) to rebuild and repair damage to the roof, foundation, structural components, exterior walls, exterior doors and windows (excluding glass), walks, parking areas, driveways, and other exterior areas (including paving), exterior plumbing lines (including water lines and gas lines) of the Leased Premises within a period of one hundred eighty (180) days after the occurrence of the casualty and the Base Rent and other charges provided for herein shall be abated during such period of rebuilding and restoration to the extent, and only to the extent that the Leased Premises cannot be used for the purposes described in Section 1.1(n) as a result thereof. Notwithstanding the foregoing, Tenant shall be responsible for repairing damage caused by fire or other casualty to those items set forth in Section 10.2 below. In the event (a) such Building shall be destroyed or rendered untenantable to an extent in excess of fifty percent (50%) of the floor area by a casualty covered by Landlord's insurance and the Leased Premises cannot be restored within one hundred eighty (180) days thereafter; or (b) the holder of a mortgage, deed of trust or other lien on the Leased Premises at the time of the casualty elects pursuant to such mortgage, deed of trust or other lien to require the use of all or part of Landlord's insurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, deed of trust or other lien; or (c) the damage has occurred in the last twelve (12) months of the Lease Term, then Landlord or Tenant may elect to either terminate this Lease or Landlord may proceed to rebuild and repair the Leased Premises. Either party shall give written notice to the other of such election within thirty (30) days after the occurrence of such casualty and if it elects to rebuild and repair shall proceed to do so with reasonable diligence within a period of one hundred eighty (180) days after ...
DAMAGE OR DESTRUCTION OF LEASED PREMISES. A. This Section 26 is subject and subordinate to Sections 39 and 41 of this Lease Agreement, and, notwithstanding anything contained in this Section 26 to the contrary, the negotiation, distribution and application of casualty and hazard insurance proceeds shall be governed according to the terms and conditions set forth in the Senior Mortgage and other loan documents secured thereby, for so long as the Senior Mortgage shall be in effect. To the extent required by the Senior Mortgage, any casualty and hazard insurance proceeds in respect of the Leased Premises shall be paid to the Mortgagee thereunder. In no event shall City receive any such insurance proceeds until the Leased Premises are restored or the Senior Mortgage is paid in full. Lessee’s obligation to restore the Leased Premises following any damage or destruction shall be limited to the extent that casualty and hazard insurance proceeds are made available to Lessee. If the building or other improvements on the Leased Premises should be damaged or destroyed by fire, tornado or other casualty through no fault of Lessee, Lessee shall immediately give written notice thereof to City.
DAMAGE OR DESTRUCTION OF LEASED PREMISES. If during the term of this Lease the Premises or any buildings or structures which may be a part of the Premises are damaged or destroyed by fire or other casualty, Tenant shall immediately notify Tenant’s property insurance carrier of the occurrence, provide CITY with a copy of such notification and as soon as practicable clean up, remove and properly dispose of all debris from the damaged or destroyed site and shall bring that portion of the Premises to a safe and stable condition. Tenant shall restore or rebuild the Premises or any building or structure as soon as practicable. Tenant shall reconstruct, rebuild or restore the Premises in a good and workmanlike manner to a like or better condition than existed prior to such damage or destruction and shall, within sixty (60) days after the occurrence of such damage or destruction, provide CITY with written notice of a schedule for such reconstruction, repair or restoration. Tenant shall begin such reconstruction, repair or restoration within ninety (90) days after the occurrence of such damage or destruction. The period of time for Tenant to complete the reconstruction, repair or restoration may be extended for delays caused by the fault or neglect of CITY or because of acts of God, acts of public agencies, fires, freight embargoes, inclement weather, or other contingencies beyond the control of Tenant.
DAMAGE OR DESTRUCTION OF LEASED PREMISES. Section 1. If, during the Term, twenty-five percent (25%) or less of the insurable value of the buildings and improvements, now existing or hereafter erected by the Lessor upon the Leased Premises, shall be destroyed by fire, explosion, the elements, an act of God or any other casualty (each, a “Casualty Event”), Lessor shall promptly rebuild and restore the same as nearly as possible to the condition existing prior to the damage. Rent payments shall be reduced proportionately from the date of such loss until the Leased Premises are restored to the condition which existed prior to the damage.
DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event that the Leased Premises shall be rendered untenantable by fire, explosion or other casualty, LESSOR may, at its option, terminate this Lease or repair the Leased Premises within sixty (60) days of such occurrence. If LESSOR does not repair the Leased Premises within said time, or the building containing the Leased Premises shall have been wholly destroyed, the term hereby created shall cease. Rent shall be abated for any period of untenantability.
DAMAGE OR DESTRUCTION OF LEASED PREMISES. 12.1 If the Premises are damaged by fire or any other cause which renders the Premises completely untenantable, in Tenant’s reasonable determination, then Tenant by a notice in writing sent no later than thirty (30) days after such damage may terminate this Lease as of the date of such damage, and any Base Rent or other amounts for the unexpired period paid in advance beyond the date of such damage, shall be refunded by Landlord to Tenant and the original Letter of Credit shall be returned promptly to Tenant.
