Common use of DAMAGE OR DESTRUCTION OF LEASED PREMISES Clause in Contracts

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 during any period in which, by reason of such damage or destruction, there is a substantial interference with the operation of Tenant’s business.

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 Agreement upon written notice to Tenant and all obligations of Tenant under this if the Landlord elects not to terminate the Lease Agreement, rent shall ceasebe abated until the Leased Premises are reconstructed. 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 Landlordordinary reason and prudence, 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 Agreement 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 ninety thirty (9030) days after the date of said damage or destruction. Notwithstanding the foregoing, Landlord shall not have any obligation whatsoever to repair, reconstruct or restore If the Leased Premises are damaged by fire or the Building when the damage resulting from any other 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 such that Tenant may be entitled to exercise shall be null and void if such option has can 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 use the Leased Premises for the normal business purposes of Tenant under Section 6 above, whether in part or in full, and the Building. Such restoration by Landlord shall has 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 a schedule 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 within forty five (45) days of such event with further assurances that it will be able to continue restore the operation Leased Premises, or is diligently working to restore the Leased Premises, to full operating condition within a 360 day period of business in such event, then Tenant shall be able to cancel this Lease Agreement upon written notice to the Landlord. Notwithstanding the foregoing, Tenant may not cancel the Lease Agreement if the damage to the Leased Premises is due in whole or in part to the extent reasonably practicable. The Base Rent shall be abated act, omission, fault or reduced proportionately negligence of Tenant, so long the Landlord is diligently working to the proportion of restore the Leased Premises that has been damaged or destroyed during any period in which, by reason of such damage or destruction, there is a substantial interference with the operation of Tenant’s businessPremises.

DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event the Leased Premises and/or the Building of which building(s) or improvements constructed on the Leased Premises are a part shall be totally destroyed or damaged by fire or other casualty or so badly damaged thatto such an extent as to render the Leased Premises untenable for Lessee’s purposes, in then the opinion of Landlord, it is not feasible to repair or rebuild same, Landlord Lessee shall have the right and option to (a) exercise its option to purchase as hereinafter provided in which event Lessee shall be entitled to the entirety of the casualty insurance proceeds; (b) immediately terminate this Lease upon written notice in which event Lessor shall be entitled to Tenant the entirety of the proceeds of casualty insurance covering the building(s), or to (c) restore the damaged building(s) to substantially the same condition as existed immediately prior to the casualty utilizing the proceeds of the casualty insurance. If Lessee elects to repair or rebuild, rentals due hereunder during the period of repair or rebuilding shall be abated for such time as Lessee is unable, by reason of the casualty, to occupy and all obligations use the Leases Premises and the term of Tenant under this Lease shall ceasebe extended for a period equal to the period of time rent has been abated. If In the event the building(s) or improvements constructed upon the Leased Premises are partially damaged by fire or other casualtycasualty which does not render the Lease Premises untenable for Lessee’s uses and Lessee continues to conduct its business therein, except if caused by Tenant’s negligence, Lessee shall promptly repair such damage and said Leased Premises are not rendered untenable thereby, as determined by Landlord, an appropriate reduction of the rent shall be allowed entitled to use all insurance proceeds available for the unoccupied portion of the Leased Premises until repair thereof such repairs. Any such damage shall be substantially completedneither annul nor void this Lease. If Landlord elects to exercise the right All repairs as 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 provided shall be made by giving notice thereof to Tenant Lessee within ninety (90) days after the date of said damage or destructiona reasonable time utilizing due diligence. Notwithstanding the foregoing, Landlord shall not have any obligation whatsoever to repair, reconstruct or restore Any and all personal property on the Leased Premises or shall be kept at the Building when the damage resulting from any casualty covered under this Lease occurs during the last twelve (12) months risk of the term or Lessee only, and Lessor will not be liable for any renewal termdamage to any personal property on the Leased Premises. Any option to renew this Lease that Tenant may Lessor shall not be entitled to exercise shall be null and void if such option has not been exercised prior any proceeds of insurance policies that cover loss 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 Lessee’s personal property within 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 during any period in which, by reason of such damage or destruction, there is a substantial interference with the operation of Tenant’s businessPremises.

DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event If the Leased Premises and/or ---------------------------------------- shall be damaged by fire, the Building elements, unavoidable accident, vandalism, or other like casualty to the extent of which less than fifty percent (50%) of the cost of replacement of the Leased Premises, the damage (except damage to Tenant's equipment, trade fixtures and other property) shall be promptly repaired by Landlord at Landlord's expense, but only if insurance proceeds are available, and the rent and other charges hereunder shall be abated to the extent, if any, that any portion of the Leased Premises is rendered untenantable for Tenant's purposes (in the reasonable opinion of Tenant), with such abatement to be computed on the basis of the relation to which the gross square foot area of the space rendered untenantable bears to the entire floor area of the Leased Premises, and with such abatement to run from the date of occurrence of such damage. Provided, however, that Landlord shall not be obligated to commence such repair, restoration or rebuilding until insurance proceeds are a part received by Landlord, and Landlord's obligation hereunder shall be totally destroyed limited to the proceeds actually received by fire Landlord under any insurance policy 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 ceasepolicies hereunder. If the Leased Premises are partially shall be so damaged by fire to the extent of fifty percent (50%) 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 more of the rent shall be allowed for the unoccupied portion costs of replacement of the Leased Premises, Landlord may, at its option, upon thirty (30) days prior written notice to Tenant, terminate this Lease, or may elect to repair the Leased Premises until repair thereof (excluding the Tenant's equipment, trade fixtures or other property), and in either event the rent chargeable hereunder shall be substantially completedabated in the manner aforesaid. If the Leased Premises is so damaged to the extent that the Leased Premises is wholly untenantable for the Tenant's purposes (in the reasonable opinion of Tenant), then the Tenant may lease other premises for a period of up to one (1) year, during which time the running of the Lease Term shall be tolled and all of Tenant's obligations under this Lease shall xxxxx. 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 rebuilt 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 repaired the Leased Premises to continue a condition, which is equal to or better than the operation of business in the Leased Premises condition thereof existing immediately prior 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 during any period in whichsuch casualty within nine (9) months after such casualty, by reason of such damage or destruction, there is a substantial interference with the operation of Tenant’s businessthen Tenant may terminate this Lease.

DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event If the Leased Premises and/or ---------------------------------------- shall be damaged by fire, the Building elements, unavoidable accident, vandalism, or other like casualty to the extent of which less than fifty percent (5 0%) of the cost of replacement of the Leased Premises, the damage (except damage to Tenant's equipment, trade fixtures and other property) shall be promptly repaired by Landlord at Landlord's expense, but only if insurance proceeds are available, and the rent and other charges hereunder shall be abated to the extent, if any, that any portion of the Leased Premises is rendered untenantable for Tenant's purposes (in the reasonable opinion of Tenant), with such abatement to be computed on the basis of the relation to which the gross square foot area of the space rendered untenantable bears to the entire floor area of the Leased Premises, and with such abatement to run from the date of occurrence of such damage. Provided, however, that Landlord shall not be obligated to commence such repair, restoration or rebuilding until insurance proceeds are a part received by Landlord, and Landlord's obligation hereunder shall be totally destroyed limited to the proceeds actually received by fire Landlord under any insurance policy 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 ceasepolicies hereunder. If the Leased Premises are partially shall be so damaged by fire to the extent of fifty percent (50%) 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 more of the rent shall be allowed for the unoccupied portion costs of replacement of the Leased Premises, Landlord may, at its option, upon thirty (30) days prior written notice to Tenant, terminate this Lease, or may elect to repair the Leased Premises until repair thereof (excluding the Tenant's equipment, trade fixtures or other property), and in either event the rent chargeable hereunder shall be substantially completedabated in the manner aforesaid. If the Leased Premises is so damaged to the extent that the Leased Premises is wholly untenantable for the Tenant's purposes (in the reasonable opinion of Tenant), then the Tenant may lease other premises for a period of up to one (1) year, during which time the running of the Lease Term shall be tolled and all of Tenant's obligations under this Lease shall xxxxx. 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 rebuilt 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 repaired the Leased Premises to continue a condition, which is equal to or better than the operation of business in the Leased Premises condition thereof existing immediately prior 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 during any period in whichsuch casualty within nine (9) months after such casualty, by reason of such damage or destruction, there is a substantial interference with the operation of Tenant’s businessthen Tenant may terminate this Lease.