Common use of DAMAGE OR DESTRUCTION OF PREMISES Clause in Contracts

DAMAGE OR DESTRUCTION OF PREMISES. A. DAMAGE OR DESTRUCTION 1. If any building of MAC in which AIRLINE occupies Premises hereunder shall be partially damaged by fire, explosion, the elements, the public enemy, or other casualty, but shall not be rendered thereby untenantable, the same shall be repaired with due diligence by MAC. If the damage shall be so extensive as to render such building untenantable in whole or in part but capable of being repaired in ninety (90) days, the same shall be repaired with due diligence by MAC and the rent payable hereunder with respect to the portion of AIRLINE’s Premises so rendered untenantable shall be proportionately paid up to the time of such damage and shall thence forth cease and be abated until such time as such untenantable portion of such building shall be fully restored to tenantable condition. 2. If any such building is completely destroyed by fire, explosion, the elements, the public enemy, or other casualty, or be so damaged that the same cannot reasonably be repaired with due diligence by MAC within ninety (90) days of such casualty, MAC shall, within sixty (60) days of such casualty give AIRLINE written notice that it intends or does not intend to repair or reconstruct such building, as follows: a. If MAC elects to repair and reconstruct the building, then the same shall be repaired with due diligence by MAC and the rent payable h’ereunder with respect to the portion of AIRLINE’s Premises rendered untenantable as a result of such casualty shall be proportionately paid up to the time of such casualty and shall thenceforth cease and be abated until such time as such untenantable portion of such building shall be restored to tenantable condition.

Appears in 2 contracts

Samples: Airline Operating Agreement and Terminal Building Lease (Sun Country Airlines Holdings, Inc.), Airline Operating Agreement and Terminal Building Lease (Sun Country Airlines Holdings, Inc.)

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DAMAGE OR DESTRUCTION OF PREMISES. A. DAMAGE OR DESTRUCTION 1. If any building of MAC in which AIRLINE occupies the Premises hereunder shall be partially are damaged by fire, explosion, the elements, the public enemy, fire or other casualty, but shall are not be rendered thereby untenantableuntenantable for Tenant’s business, the same shall be repaired with due diligence by MAC. If the damage shall be so extensive as to render such building untenantable either in whole or in part but capable part, Landlord shall cause such damage to be repaired without unreasonable delay such that each Premises Portion is in the condition that existed as of being the applicable Premises Portion Commencement Date, and the Annual Rent shall not xxxxx. If by reason of such casualty the Premises are rendered untenantable for Tenant’s business, either in whole or in part, Landlord shall cause such damage to be repaired without unreasonable delay such that each Premises Portion is in ninety (90) daysthe condition that existed as of the applicable Premises Portion Commencement Date, and, in the interim, the same shall be repaired with due diligence by MAC and the rent payable hereunder with respect to the portion of AIRLINE’s Premises so rendered untenantable Annual Rent shall be proportionately paid up reduced as to such portion of the Premises as is rendered untenantable. Any such abatement of rent shall not, however, create an extension of the Term. Provided, however, if by reason of such casualty, the Premises are rendered untenantable in some material portion, and Landlord, in its reasonable estimation, determines that the amount of time required to repair the damage using due diligence is in excess of nine (9) months (as measured from the issuance of the applicable building permits necessary for the reconstruction of the Building), and thereafter notifies Tenant thereof, then, either party shall have the right to terminate this Lease by giving written notice of termination within thirty (30) days after the date of such notice from Landlord, and the Annual Rental shall (i) xxxxx as of the date of such casualty in proportion to the time part of the Premises rendered untenantable and (ii) xxxxx entirely as of the effective date of the termination of this Lease. Notwithstanding the foregoing, in the event the casualty giving rise to an election to terminate is caused by the gross negligence or willful misconduct of Tenant or Tenant’s agents, contractors, employees, or invitees, Tenant shall have no right to terminate this Lease. Notwithstanding the other provisions of this Section, in the event there should be a casualty loss to the Premises during the last Lease Year of the Term, Landlord may, at its option, terminate this Lease by giving written notice to Tenant within thirty (30) days after the date of the casualty and the Annual Rental shall xxxxx as of the date of such damage and termination. Except as provided herein, Landlord shall thence forth cease and be abated until such time as such untenantable portion have no obligation to rebuild or repair in case of such building shall be fully restored to tenantable condition. 2. If any such building is completely destroyed by fire, explosion, the elements, the public enemy, fire or other casualty, and no termination under this Section shall affect any rights of Landlord or be so damaged that Tenant hereunder arising from the same cannot reasonably be repaired with due diligence by MAC within ninety (90) days prior defaults of such casualty, MAC shall, within sixty (60) days the other party. Tenant shall give Landlord prompt notice of such any fire or other known casualty give AIRLINE written notice that it intends or does not intend to repair or reconstruct such building, as follows: a. If MAC elects to repair and reconstruct in the building, then the same shall be repaired with due diligence by MAC and the rent payable h’ereunder with respect to the portion of AIRLINE’s Premises rendered untenantable as a result of such casualty shall be proportionately paid up to the time of such casualty and shall thenceforth cease and be abated until such time as such untenantable portion of such building shall be restored to tenantable conditionPremises.

Appears in 1 contract

Samples: Office Lease Agreement (Dova Pharmaceuticals, Inc.)

DAMAGE OR DESTRUCTION OF PREMISES. A. DAMAGE OR DESTRUCTION 1. If Landlord and Tenant agree that if at any building time during the continuance of MAC in which AIRLINE occupies this Lease the Premises hereunder shall be partially damaged destroyed or so injured by fire, explosionor by other casualty as to be unfit for occupancy, and such destruction or injury can reasonably be repaired within one hundred eighty (180) days from the elementsdate of such destruction or injury, the public enemy, or other casualty, but then Tenant shall not be rendered thereby untenantableentitled to surrender possession of said Premises; but in case of any such destruction or injury, Tenant shall immediately commence the restoration of the Premises and shall complete the same with all reasonable speed. The restoration of the Premises shall be repaired with due diligence performed by MACcontractors approved in advance by Landlord. If the damage Premises shall be so extensive as to render such building untenantable in whole destroyed or in part but capable of being repaired in ninety (90) days, the same shall be repaired with due diligence injured by MAC and the rent payable hereunder with respect to the portion of AIRLINE’s Premises so rendered untenantable shall be proportionately paid up to the time of such damage and shall thence forth cease and be abated until such time as such untenantable portion of such building shall be fully restored to tenantable condition. 2. If any such building is completely destroyed by fire, explosion, the elements, the public enemy, fire or other casualtycasualty that such destruction or injury, or be so damaged that the same cannot reasonably be repaired with due diligence by MAC within ninety one hundred eighty (90180) days from the date of such casualtydestruction or injury either Landlord or Tenant shall have the option, MAC shall, upon written notice given to the other within sixty thirty (6030) days from the date of destruction or injury, to terminate this Lease. In the event of such casualty give AIRLINE written notice that it intends or does not intend to repair or reconstruct such buildinga termination, as follows: a. If MAC elects to repair and reconstruct the building, then the same Landlord shall be repaired with due diligence by MAC and the rent payable h’ereunder entitled to all insurance proceeds with respect to the portion of AIRLINE’s Premises rendered untenantable as a result of such casualty Premises. Tenant shall be proportionately paid up entitled to make use of the time proceeds of such casualty and shall thenceforth cease and be abated until such time insurance upon the Premises to pay for the restoration of the Premises. If the insurance proceeds are inadequate to restore the Premises as such untenantable portion of such building shall be restored nearly as possible to tenantable condition.the

Appears in 1 contract

Samples: Lease (Mercantile Bank Corp)

DAMAGE OR DESTRUCTION OF PREMISES. A. DAMAGE OR DESTRUCTION 1. If any building of MAC in which AIRLINE occupies the Premises hereunder shall be partially are damaged by fire, explosion, the elements, the public enemy, fire or other casualty, but shall are not be rendered thereby untenantableuntenantable for Lessee's business, the same shall be repaired with due diligence by MAC. If the damage shall be so extensive as to render such building untenantable either in whole or in part but capable of being repaired in ninety (90) dayspart, the same Lessor shall cause such damage to be repaired with due diligence by MAC without unreasonable delay and the rent payable hereunder with respect to the portion of AIRLINE’s Premises so rendered untenantable Annual Rent shall not be proportionately paid up to the time of such damage and shall thence forth cease and be abated until such time as such untenantable portion of such building shall be fully restored to tenantable condition. 2abated. If by any such building is completely destroyed by fire, explosion, the elements, the public enemy, or other casualty, or be so damaged that the same cannot reasonably be repaired with due diligence by MAC within ninety (90) days reason of such casualty, MAC shallthe Premises are rendered untenantable for Lessee's business, either in whole or in part, Lessor shall cause the damage to be repaired or replaced without unreasonable delay, and in the interim, the Annual Rental shall be equitably reduced as to such portion of the Premises as is rendered untenantable. Any such abatement of rent shall not, however, create an extension of the Term of this Lease. Provided, however, if by reason of such casualty, the Premises are rendered substantially untenantable, and Lessor is unable to give reasonable assurances that the amount of time required to repair the damage shall not exceed one hundred eighty (180) days, then either party shall have the right to terminate this Lease by giving written notice of termination within sixty (60) days after the date of casualty. Notwithstanding anything to the contrary contained in this paragraph, in the event of a casualty loss to the Premises equal to 50% or more of the replacement value for the Premises during the last Lease Year of the Term or the Renewal Term, either party may, at its option, terminate this Lease by giving written notice within 60 days after the date of the casualty and rent shall xxxxx as of the date of such casualty give AIRLINE written notice that it intends or does not intend to repair or reconstruct such buildingnotice. Except as provided herein, as follows: a. If MAC elects to repair and reconstruct the building, then the same there shall be repaired with due diligence by MAC no obligation of Lessor to rebuild or repair in case of fire or other casualty, and no termination pursuant to this paragraph shall affect any rights of Lessor or Lessee hereunder arising from prior defaults of the rent payable h’ereunder with respect to other party. Lessee shall give Lessor immediate notice of any fire or other casualty in the portion of AIRLINE’s Premises rendered untenantable as a result of such casualty shall be proportionately paid up to the time of such casualty and shall thenceforth cease and be abated until such time as such untenantable portion of such building shall be restored to tenantable conditionPremises.

Appears in 1 contract

Samples: Lease Agreement (Aftermarket Technology Corp)

DAMAGE OR DESTRUCTION OF PREMISES. A. DAMAGE OR DESTRUCTION 1. If any building of MAC in which AIRLINE occupies Premises hereunder shall be partially damaged by fire, explosion, the elements, the public enemy, or other casualty, but shall not be rendered thereby untenantable, the same shall be repaired with due diligence by MAC. If the damage shall be so extensive as to render such building untenantable in whole or in part but capable of being repaired in ninety (90) days, the same shall be repaired with due diligence by MAC and the rent payable hereunder with respect to the portion of AIRLINE’s 's Premises so rendered untenantable shall be proportionately paid up to the time of such damage and shall thence forth cease and be abated until such time as such untenantable portion of such building shall be fully restored to tenantable condition. 2. If In case any such building is completely destroyed by fire, explosion, the elements, the public enemy, or other casualty, or be so damaged that the same cannot reasonably be repaired with due diligence by MAC within ninety (90) days of such casualty, MAC shall, within sixty (60) days of such casualty give AIRLINE written notice that it intends or does not intend to repair or reconstruct such building, as follows: a. If In the event MAC elects to repair and reconstruct the building, then the same shall be repaired with due diligence by MAC and the rent payable h’ereunder hereunder with respect to the portion of AIRLINE’s 's Premises rendered untenantable as a result of such casualty shall be proportionately paid up to the time of such casualty and shall thenceforth cease and be abated until such time as such untenantable portion of such building shall be restored to tenantable condition. b. In the event MAC determines not to repair or reconstruct such building (whether by delivery of notice to said effect or by deemed notice as hereinafter described), then this Agreement shall be deemed terminated as to the portion of the AIRLINE's Premises rendered untenantable as a result of such casualty with respect to such portion, and rent payable hereunder with respect to such portion shall be proportionately paid through the date of such casualty and shall thenceforth cease. If no written notice of intention to repair and restore is timely received by AIRLINE within the above-referenced sixty (60) day period, then MAC shall be deemed to have elected not to repair or reconstruct the building. Except as expressly set forth in this Article IX, MAC shall have no obligation to repair or rebuild any of the facilities at the Airport in the event of damage by the elements, fire, explosions or other casualty or causes beyond the control of MAC. c. Proceeds of any insurance maintained by MAC payable with respect to such casualty shall be applied to such repair or reconstruction or shall be credited to the appropriate Airport Cost Centers.

Appears in 1 contract

Samples: Airline Operating Agreement and Terminal Building Lease (Northwest Airlines Corp)

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DAMAGE OR DESTRUCTION OF PREMISES. A. DAMAGE OR DESTRUCTION 1. If any building In the event of MAC total or partial destruction of the Premises by fire or other casualty insured by Lessor, Lessor agrees to promptly restore and repair the Premises at Lessor's expense to the extent Lessor receives insurance proceeds therefor, provided however, that in the event the Premises are (i) so destroyed that they cannot be repaired or rebuilt within one hundred eighty (180) days after the commencement of such repair or rebuilding; or (ii) destroyed by a casualty which AIRLINE occupies Premises hereunder shall be partially damaged is not covered by fire, explosion, the elements, the public enemyLessor's insurance, or if such casualty is covered by Lessor's insurance but a mortgagee of Lessor or other casualtyparty entitled to insurance proceeds fails to make such proceeds available to Lessor in an amount sufficient for restoration of the Premises (provided, but shall not be rendered thereby untenantablehowever, that Lessor agrees to make a good faith effort to have such mortgagee make such proceeds available for full restoration or rebuilding), then, either Lessor or Lessee may terminate and cancel this Lease effective as of the same shall be repaired with due diligence sixtieth (60th) day after such casualty by MAC. If the damage shall be so extensive as to render such building untenantable in whole or in part but capable of being repaired in ninety (90) days, the same shall be repaired with due diligence by MAC and the rent payable hereunder with respect giving written notice to the portion of AIRLINE’s Premises so rendered untenantable shall be proportionately paid up to the time of such damage and shall thence forth cease and be abated until such time as such untenantable portion of such building shall be fully restored to tenantable condition. 2. If any such building is completely destroyed by fire, explosion, the elements, the public enemy, or other casualty, or be so damaged that the same cannot reasonably be repaired with due diligence by MAC within ninety (90) days of such casualty, MAC shall, party within sixty (60) days of the date of such casualty give AIRLINE written casualty. Upon the effective date of such termination, all further obligations hereunder shall thereupon cease. If no such notice that it intends or does not intend to is given, Lessor shall make such repair or reconstruct restoration of the Premises promptly and in such buildingmanner as not to unreasonably interfere with Lessee's use and occupancy of the Premises. Any proceeds from the fire and extended coverage insurance policies not utilized by Lessor in restoring or repairing the Premises shall become the sole property of Lessor. Rent shall proportionately abatx xxxing the time that the Premises or any part thereof are unusable by reason of such damage thereto. Except as provided herein, as follows: a. If MAC elects damage to repair and reconstruct the building, then the same shall be repaired with due diligence by MAC and the rent payable h’ereunder with respect to the or destruction of all or any portion of AIRLINE’s the Premises rendered untenantable as a result of such casualty by fire or by any other cause shall be proportionately paid up not terminate this Lease, nor entitle Lessee to surrender the time of such casualty Premises nor in any way affect Lessee's obligation to pay the Rent and shall thenceforth cease and be abated until such time as such untenantable portion of such building shall be restored to tenantable conditionother sums payable hereunder.

Appears in 1 contract

Samples: Lease Agreement (Gerber Childrenswear Inc)

DAMAGE OR DESTRUCTION OF PREMISES. A. DAMAGE OR DESTRUCTION 1. If any building of MAC in which AIRLINE occupies Premises hereunder shall be partially damaged by fire, explosion, the elements, the public enemy, or other casualty, but shall not be rendered thereby untenantable, the same shall be repaired with due diligence by MAC. If the damage shall be so extensive as to render such building untenantable in whole or in part but capable of being repaired in ninety (90) days, the same shall be repaired with due diligence by MAC and the rent payable hereunder with respect to the portion of AIRLINE’s Premises so rendered untenantable shall be proportionately paid up to the time of such damage and shall thence forth cease and be abated until such time as such untenantable portion of such building shall be fully restored to tenantable condition. 2. If In case any such building is completely destroyed by fire, explosion, the elements, the public enemy, or other casualty, or be so damaged that the same cannot reasonably be repaired with due diligence by MAC within ninety (90) days of such casualty, MAC shall, within sixty (60) days of such casualty give AIRLINE written notice that it intends or does not intend to repair or reconstruct such building, as follows: a. If In the event MAC elects to repair and reconstruct the building, then the same shall be repaired with due diligence by MAC and the rent payable h’ereunder hereunder with respect to the portion of AIRLINE’s Premises rendered untenantable as a result of such casualty shall be proportionately paid up to the time of such casualty and shall thenceforth cease and be abated until such time as such untenantable portion of such building shall be restored to tenantable condition. b. In the event MAC determines not to repair or reconstruct such building (whether by delivery of notice to said effect or by deemed notice as hereinafter described), then this Agreement shall be deemed terminated as to the portion of the AIRLINE’s Premises rendered untenantable as a result of such casualty with respect to such portion, and rent payable hereunder with respect to such portion shall be proportionately paid through the date of such casualty and shall thenceforth cease. If no written notice of intention to repair and restore is timely received by AIRLINE within the above-referenced sixty (60) day period, then MAC shall be deemed to have elected not to repair or reconstruct the building. Except as expressly set forth in this Article IX, MAC shall have no obligation to repair or rebuild any of the facilities at the Airport in the event of damage by the elements, fire, explosions or other casualty or causes beyond the control of MAC. c. Proceeds of any insurance maintained by MAC payable with respect to such casualty shall be applied to such repair or reconstruction or shall be credited to the appropriate Airport Cost Centers.

Appears in 1 contract

Samples: Airline Operating Agreement and Terminal Building Lease (Northwest Airlines Corp)

DAMAGE OR DESTRUCTION OF PREMISES. A. DAMAGE OR DESTRUCTION 1. If any building (a) Except as otherwise expressly provided in Section 7.2(b) below, if all or a part of MAC in which AIRLINE occupies the Premises hereunder shall be partially damaged or destroyed by fire, explosion, the elements, the public enemy, or other casualty, but shall not be rendered thereby untenantableand if the estimated cost of rebuilding, replacing and repairing the same shall be repaired with due diligence by MAC. If the damage or exceed $50,000, or in any case giving rise to Landlord's obligation to repair under Section 5.18, Tenant shall promptly notify Landlord thereof; and (whether or not such estimated cost shall be so extensive or exceed $50,000) Tenant shall, with reasonable promptness and diligence whether or not any insurance proceeds are available or adequate for such purpose, except to the extent Landlord's mortgagee does not make insurance proceeds available for such purpose, and regardless of the dollar amount or cause of such damage or destruction, rebuild, replace and repair any damage or destruction to the Premises, at its expense, in conformity with the requirements of Section 5.1, and subject to Section 5.18, in such manner as to render restore the same to the same condition, as nearly as possible, as existed prior to such building untenantable casualty and there shall be no abatement of Base Rent or Additional Rent. Notwithstanding the foregoing, if (i) a part of the Premises shall be damaged or destroyed by casualty, (ii) such casualty was not caused, in whole or in part part, by the intentional act or gross negligence of Tenant or Tenant's employees, agents, invitees, affiliates or contractors, (iii) Tenant's obligation to rebuild, replace and repair is excused under this Section 7.2 (a) because Landlord's mortgagee does not make insurance proceeds available therefor but capable of being repaired in ninety (90) days, instead applies the same toward the obligations of Landlord under its loan, and (iv) such unavailability of insurance proceeds results in the permanent loss of rentable floor area of any building, then Annual Base Rent shall be repaired with due diligence proportionally abated in a manner reasonably acceptable to Landlord and Tenant. If the conditions described in the preceding sentence are met, and if Landlord has elected in its sole discretion not to pay for or perform any repairs, then the actual, third-party costs paid for by MAC and Tenant shall be taken into account in the determination of the equitable abatement of rent payable hereunder with respect under the preceding sentence, but only to the extent such costs were necessary to render the Premises safe and legally occupiable. Notwithstanding anything herein to the contrary, if there shall have been an Event of Default under the terms of this Lease and if Landlord has terminated the term of this Lease pursuant to Article VIII, Landlord, in the exercise of its sole and absolute discretion, shall have the right to settle claims relating to any insurance proceeds from any casualty and (if Landlord has terminated the term of this Lease pursuant to Article VIII) to receive the same and to apply same toward payment of any indebtedness owed to Landlord's mortgagee instead of allowing such proceeds to be used by Tenant for the rebuilding or restoration of the damaged portion of AIRLINE’s Premises so rendered untenantable shall be proportionately paid up the Premises. (b) Notwithstanding the provisions of Section 7.2(a), if a Major Casualty (defined below) occurs, Tenant and Landlord may, by written notice to the time of such damage and shall thence forth cease and be abated until such time as such untenantable portion of such building shall be fully restored to tenantable condition. 2. If any such building is completely destroyed by fire, explosion, the elements, the public enemy, or other casualty, or be so damaged that the same cannot reasonably be repaired with due diligence by MAC within ninety (90) days of such casualty, MAC shall, within sixty (60) days of such casualty give AIRLINE written notice that it intends or does not intend to repair or reconstruct such building, as follows: a. If MAC elects to repair and reconstruct the building, then the same shall be repaired with due diligence by MAC and the rent payable h’ereunder with respect to the portion of AIRLINE’s Premises rendered untenantable as a result occurrence of such casualty shall be proportionately paid up to Major Casualty, terminate this Lease effective as of the time first day of the calendar month that is not less than thirty (30) days nor more than sixty (60) days following the date of such casualty and shall thenceforth cease and be abated until such time as such untenantable portion notice of such building shall be restored to tenantable condition.termination (the "Casualty Termination Date"). If this Lease is so terminated, (i) then, notwithstanding anything to

Appears in 1 contract

Samples: Lease (Parlex Corp)

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