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

DAMAGE OR DESTRUCTION TO LEASED PREMISES. If at any time during the Term, the Leased Premises are damaged or destroyed by fire or other casualty (“Casualty”), Landlord shall have the option to either repair or restore the Leased Premises (subject to the following paragraph) to substantially the same condition that existed immediately prior to such Casualty or, terminate this lease as of the date of such Casualty. In the event Landlord chooses to terminate this lease, the Rent payable by Tenant shall be apportioned as of the date of such Casualty. Landlord shall give written notice to Tenant of its election either to repair or restore the Leased Premises or to terminate this lease within 90 days after the date such Casualty occurs. Notwithstanding the foregoing, if, in Landlord’s reasonable estimate, the Leased Premises can be repaired or restored, including full services as outlined in §17 below, within 180 days from the date of the Casualty and (a) Landlord’s mortgagee or any other third party entitled to the insurance proceeds makes available sufficient proceeds for the restoration of the Leased Premises and/or the Building, and (b) the issuer of any Landlord’s “all-risk” or hazard insurance makes said insurance available to Landlord sufficient proceeds for the restoration of the Leased Premises and/or the Building, then Landlord must repair and restore the Leased Premises and/or Building as detailed herein and return possession to Tenant. For purposes of the immediately preceding sentence, “sufficient proceeds” shall mean proceeds which, together with any deductible amount, would cover at least 100% of the cost of the applicable restoration of the Leased Premises and/or Building to substantially similar condition as the same existed the day before the Casualty, with such changes or alterations as Landlord may elect to make thereto which do not material affect Tenant’s use or enjoyment of the Leased Premises. In the event that Landlord does not so terminate this lease as permitted above, the Rent payable by Tenant shall be abated commencing as of the date of such damage or destruction and continuing during the period of any restoration or repair of the Leased Premises and/or Building in such proportion that the floor area of the Leased Premises of which Tenant is deprived as a result of such damage or destruction or the repair or restoration necessitated thereby bears to the total floor area of the Leased Premises. Notwithstanding anything in this §15 to the contrary, in the event the Leased Premises are damaged to an immaterial or insubstantial degree and the balance of the Building has not been materially damaged, Landlord shall cause the Leased Premises to be repaired and restored as soon as reasonably possible after the date of such damage. Unless this lease is terminated by Landlord or Tenant as provided in this §15, this lease shall remain in full force and effect and Landlord shall proceed with diligence to restore, repair, and replace the Leased Premises and/or Building to substantially the same condition as it was prior to such damage or destruction. Landlord shall be under no duty to restore any Alterations, improvements or additions made by Tenant or by Landlord at Tenant’s request after the Commencement Date, unless covered by proceeds of insurance available to Landlord. In all cases, allowances for the completion of the repairs shall be given to Landlord for any reasonable delays caused by adjustment of insurance loss, strikes, labor difficulties, inability to obtain supplies or materials or any cause beyond Landlord’s control. If the Leased Premises shall be partially damaged or destroyed by Casualty so as to render at least 50% of the Leased Premises untenantable and if Landlord reasonably estimates that the Leased Premises cannot be repaired or restored, including full services as outlined in §17, below, within 210 days from the date of the Casualty, which determination Landlord shall make within 90 days after the date such damage or destruction occurs, then Tenant shall have the right to terminate this lease without penalty by written notice to Landlord within 10 business days of Landlord’s written notice to Tenant of such determination. In addition, Tenant shall have the option of terminating the lease if the Leased Premises are damaged in the last two years of the Term.

DAMAGE OR DESTRUCTION TO LEASED PREMISES. If at Tenant shall give prompt written notice to Landlord after the occurrence of any time fire, earthquake, act of God or other casualty to or in connection with damage to the Leased Premises, the Improvements or any portion thereof (hereinafter sometimes referred to as a "Casualty"). If, during the Term, Term the Leased Premises are Improvements shall be damaged or destroyed by fire or other casualty (“Casualty”), Landlord Tenant shall have the option to either promptly and diligently repair or restore the Leased Premises (subject Improvements as soon as reasonably possible. In the event the insurance proceeds are not sufficient to repair or restore the following paragraph) Improvements, Tenant shall provide or cause to substantially the same condition that existed immediately prior be provided sufficient additional funds which, when added to such Casualty orinsurance proceeds, terminate this lease as will fully effect such repair or restoration. Upon the occurrence of the date of any such Casualty, Tenant, promptly and with all due diligence, shall apply for and collect all applicable insurance proceeds recoverable with respect to such Casualty. In the event Landlord chooses to terminate this lease, the Rent payable by that Tenant shall be apportioned as of the date of such Casualty. Landlord shall give written reasonably determine, by notice to Tenant of its election either to repair or restore the Leased Premises or to terminate this lease Landlord, given within 90 sixty (60) days after the date such Casualty occurs. Notwithstanding the foregoing, if, in Landlord’s reasonable estimate, the Leased Premises can be repaired or restored, including full services as outlined in §17 below, within 180 days from the date of the Casualty and (a) Landlord’s mortgagee or any other third party entitled that it is not economically practical to the insurance proceeds makes available sufficient proceeds for the restoration of the Leased Premises and/or the Building, and (b) the issuer of any Landlord’s “all-risk” or hazard insurance makes said insurance available to Landlord sufficient proceeds for the restoration of the Leased Premises and/or the Building, then Landlord must repair and restore the Leased Premises Improvements and/or Building as detailed herein and return possession to Tenant. For purposes of the immediately preceding sentence, “sufficient proceeds” shall mean proceeds which, together with any deductible amount, would cover at least 100% of the cost of the applicable restoration of the Leased Premises and/or Building to substantially similar condition as the same existed the day before the Casualty, with such changes or alterations as Landlord may elect to make thereto which do not material affect Tenant’s use or enjoyment of the Leased Premises. In the event that Landlord does not so terminate this lease as permitted above, the Rent payable by Tenant shall be abated commencing as of the date of such damage or destruction and continuing during the period of any restoration or repair of the Leased Premises and/or Building in such proportion that the floor area of the Leased Premises of which Tenant is deprived as a result of such damage or destruction or the repair or restoration necessitated thereby bears to the total floor area of the Leased Premises. Notwithstanding anything in this §15 to the contrary, in the event the Leased Premises are damaged to an immaterial or insubstantial degree and the balance of the Building has not been materially damaged, Landlord shall cause the Leased Premises to be repaired and restored substantially the same condition in which they existed prior to the occurrence of such Casualty, then Tenant may terminate this Lease as soon as reasonably possible of a date that is not less than thirty (30) days after the date of such damage. Unless this lease is terminated by Landlord or Tenant as provided in this §15, this lease shall remain in full force and effect and Landlord shall proceed with diligence to restore, repair, and replace the Leased Premises and/or Building to substantially the same condition as it was prior to such damage or destruction. Landlord shall be under no duty to restore any Alterations, improvements or additions made by Tenant or by Landlord at Tenant’s request after the Commencement Date, unless covered by proceeds of insurance available to Landlord. In all cases, allowances for the completion of the repairs shall be given to Landlord for any reasonable delays caused by adjustment of insurance loss, strikes, labor difficulties, inability to obtain supplies or materials or any cause beyond Landlord’s controlnotice. If the Leased Premises Tenant terminates this Lease pursuant to this Section 11.1, Tenant shall be partially damaged or destroyed by Casualty so as to render at least 50% surrender possession of the Leased Premises untenantable to Landlord as of the effective date of such termination and shall assign to Landlord (or, if Landlord reasonably estimates that same has already been received by Tenant, pay to Landlord) all of its right, title and interest in and to the proceeds from Tenant's insurance upon the Leased Premises cannot be repaired or restored, including full services as outlined in §17, below, within 210 days from the date of the Casualty, which determination Landlord shall make within 90 days after the date such damage or destruction occurs, then Tenant shall have the right to terminate this lease without penalty by written notice to Landlord within 10 business days of Landlord’s written notice to Tenant of such determination. In addition, Tenant shall have the option of terminating the lease if the Leased Premises are damaged in the last two years of the TermPremises.

DAMAGE OR DESTRUCTION TO LEASED PREMISES. If at any time during the Term, Term the Leased Premises are damaged or destroyed by fire or other casualty (“Casualty”)destroyed, Landlord shall have the option to either may, at its option, repair or restore the Leased Premises (subject to the following paragraph) to substantially the same condition that existed immediately prior to such Casualty or, damage or destruction or terminate this lease as of the date of such Casualtydamage or destruction. In the event Landlord chooses to terminate this leaseUpon such termination, the Rent rent payable by Tenant shall be apportioned as of the date of such Casualtydamage or destruction. Landlord shall give written notice to Tenant of its election either to repair or restore the Leased Premises or to terminate this lease within 90 60 days after the date such Casualty damage or destruction occurs. Notwithstanding the foregoing, ifProvided that such damage or destruction was not caused by Tenant, in Landlord’s reasonable estimate, the Leased Premises can be repaired or restored, including full services as outlined in §17 below, within 180 days from the date of the Casualty and (a) Landlord’s mortgagee or any other third party entitled to the insurance proceeds makes available sufficient proceeds for the restoration of the Leased Premises and/or the Building, and (b) the issuer of any Landlord’s “all-risk” or hazard insurance makes said insurance available to Landlord sufficient proceeds for the restoration of the Leased Premises and/or the Building, then Landlord must repair and restore the Leased Premises and/or Building as detailed herein and return possession to Tenant. For purposes of the immediately preceding sentence, “sufficient proceeds” shall mean proceeds which, together with any deductible amount, would cover at least 100% of the cost of the applicable restoration of the Leased Premises and/or Building to substantially similar condition as the same existed the day before the Casualty, with such changes or alterations as Landlord may elect to make thereto which do not material affect Tenant’s use or enjoyment of the Leased Premises. In the event that Landlord does not so terminate this lease as permitted above, the Rent payable by Tenant shall be abated commencing as of the date of such damage or destruction and continuing during the period of any restoration or repair of the Leased Premises and/or Building in such proportion that the floor area of the Leased Premises of which Tenant is deprived as a result of such damage or destruction or the repair or restoration necessitated thereby bears to the total floor area of the Leased Premises. Notwithstanding anything in this §15 paragraph to the contrary, in the event the Leased Premises are damaged to an immaterial or insubstantial nonsubstantial degree and the balance of the Building has not been materially damaged, Landlord shall cause the Leased Premises to be repaired and restored as soon as reasonably possible after the date of such damage; provided that in such event, Rent shall not be abated or reduced. Unless this lease is terminated by Landlord or Tenant as provided in this §15section, this lease shall remain in full force and effect and Landlord shall proceed with due diligence to restore, repair, and replace the Leased Premises and/or Building to substantially the same condition as it was they were in prior to such damage or destruction. Landlord shall be under no duty to restore any Alterations, improvements or additions made by Tenant or by Landlord at Tenant’s 's request after the Commencement Date, unless covered by proceeds of insurance designated for such Alterations, improvements, or additions and available to Landlord. In all cases, allowances for the completion of the repairs shall be given to Landlord for any reasonable delays caused by adjustment of insurance loss, strikes, labor difficulties, inability to obtain supplies or materials or any cause beyond Landlord’s 's control. If the Leased Premises shall be partially damaged or destroyed by Casualty so as to render at least 50% of the Leased Premises untenantable and if Landlord reasonably estimates that the Leased Premises cannot be repaired or restored, including full services as outlined in §17, below, within 210 days from the date of the Casualty, which determination Landlord shall make within 90 days after the date such damage or destruction occurs, then Tenant shall have the right to terminate this lease without penalty by written notice to Landlord within 10 business days of Landlord’s written notice to Tenant of such determination. In addition, Tenant shall have the option of terminating the lease if the Leased Premises are damaged in the last two years of the Term.

DAMAGE OR DESTRUCTION TO LEASED PREMISES. If at any time during the Term, Term the Leased Premises are damaged or destroyed by fire or other casualty (“Casualty”)to the extent that Subtenant is unable to operate its business from the Leased Premises, Landlord Sublandlord shall have the option to either repair or restore the Leased Premises (subject to the following paragraph) to substantially the same condition that existed immediately prior to such Casualty ordamage or destruction unless such repair or restoration cannot be reasonably completed within one hundred eighty (180) days after such damage or destruction occurred, in which event either Sublandlord or Subtenant may terminate this lease as of Sublease, within ten (10) business days after the later of: (i) the date on which such damage or destruction occurred, or (ii) the date on which Sublandlord notifies Subtenant in writing that it cannot repair and/or restore the Leased Premises within one hundred eighty (180) days from the date of such Casualtydamage or destruction. In the event Landlord chooses to terminate this leaseUpon such termination, the Rent rent payable by Tenant Subtenant shall be apportioned as of the date of such Casualty. Landlord shall give written notice to Tenant of its election either to repair damage or restore the Leased Premises or to terminate this lease within 90 days after the date such Casualty occurs. Notwithstanding the foregoing, if, in Landlord’s reasonable estimate, the Leased Premises can be repaired or restored, including full services as outlined in §17 below, within 180 days from the date of the Casualty and (a) Landlord’s mortgagee or any other third party entitled to the insurance proceeds makes available sufficient proceeds for the restoration of the Leased Premises and/or the Building, and (b) the issuer of any Landlord’s “all-risk” or hazard insurance makes said insurance available to Landlord sufficient proceeds for the restoration of the Leased Premises and/or the Building, then Landlord must repair and restore the Leased Premises and/or Building as detailed herein and return possession to Tenant. For purposes of the immediately preceding sentence, “sufficient proceeds” shall mean proceeds which, together with any deductible amount, would cover at least 100% of the cost of the applicable restoration of the Leased Premises and/or Building to substantially similar condition as the same existed the day before the Casualty, with such changes or alterations as Landlord may elect to make thereto which do not material affect Tenant’s use or enjoyment of the Leased Premisesdestruction. In the event that Landlord does this Sublease is not so terminate this lease as permitted aboveterminated by either Sublandlord or Subtenant within that ten (10) day period, the Rent payable by Tenant Subtenant shall be abated commencing as of the date of such damage or destruction and continuing during the period of any restoration or repair of the Leased Premises and/or Building but only in such proportion that the floor area of the Leased Premises of which Tenant Subtenant is deprived of using (as a result of such damage or destruction or the repair or restoration necessitated thereby thereby) bears to the total floor area of the Leased Premises. In the event the Leased Premises are damaged or destroyed to the extent that Subtenant is only able to operate its business partially out of the Leased Premises, neither Sublandlord nor Subtenant shall have the right to terminate this Sublease; provided that the Rent payable by Subtenant shall be partially abated (as of the date of such damage) until repaired based upon the square footage of the Leased Premises which Subtenant is able to use for purposes of operating its business operations. Notwithstanding anything in this §15 paragraph to the contrary, in the event the Leased Premises are damaged to an immaterial or insubstantial nonsubstantial degree and the balance of the Building has not been materially damageddamaged (i.e. Subtenant is able to substantially perform its business operations from the Leased Premises uninterrupted), Landlord Sublandlord shall cause the Leased Premises to be repaired and restored as soon as reasonably possible after the date of such damage; provided that in such event, Rent shall not be abated or reduced. Unless this lease Sublease is terminated by Landlord or Tenant as provided above in this §15section, this lease Sublease shall remain in full force and effect and Landlord Sublandlord shall proceed with due diligence to restore, repair, and replace the Leased Premises and/or Building to substantially the same condition as it was they were in prior to such damage or destruction. Landlord Sublandlord shall be under no duty to restore any Alterations, improvements or additions made by Tenant Subtenant or by Landlord Sublandlord at Tenant’s Subtenant's request after the Commencement Date, unless covered by proceeds of insurance designated for such Alterations, improvements, or additions and available to LandlordSublandlord. In all cases, allowances for the completion of the repairs shall be given to Landlord Sublandlord for any reasonable delays caused by adjustment of insurance loss, strikes, labor difficulties, inability to obtain supplies or materials or any cause beyond Landlord’s Sublandlord's control. If the Leased Premises shall be partially damaged or destroyed by Casualty so as to render at least 50% of the Leased Premises untenantable and if Landlord reasonably estimates that the Leased Premises cannot be repaired or restored, including full services as outlined in §17, below, within 210 days from the date of the Casualty, which determination Landlord shall make within 90 days after the date such damage or destruction occurs, then Tenant shall have the right to terminate this lease without penalty by written notice to Landlord within 10 business days of Landlord’s written notice to Tenant of such determination. In addition, Tenant shall have the option of terminating the lease if the Leased Premises are damaged in the last two years of the Term.