Common use of Damage or Destruction to Premises Clause in Contracts

Damage or Destruction to Premises. (a) If the leased premises, or any portion thereof, shall be damaged during the term by fire or any casualty insurable under the standard fire and extended coverage insurance policies, but are not wholly untenantable, the Lessor shall repair and/or rebuild the same as promptly as possible, provided that the proceeds from Lessor's insurance policies are available to Lessor. The Lessor shall not be required to repair or rebuild any fixtures, installations, improvements, or leasehold improvements made to the interior of the leased premises by Lessee, nor Lessee's exterior signs. Such repairs and/or replacements are to be made by Lessee. In such event, the Lease shall not terminate, but shall remain in full force and effect, and a proportionate reduction in the fixed minimum monthly rental shall be made from the time of such fire or casualty until said premises are repaired or restored, except (i) if the Lessee can use and occupy the leased premises without substantial inconvenience; or (ii) if said repairs are delayed at the request or by reason of any act on the part of the Lessee which prevents or delays the repair of said premises by Lessor, there shall be no reduction in rental while said premises are being repaired, nor for any period of delay caused by or requested by Lessee. Lessors obligation to repair shall be subject to any delays from labor troubles, material shortages, insurance claim negotiations, or any other causes, whether similar or dissimilar to the foregoing, beyond Lessor's control.

Damage or Destruction to Premises. (a) If In the leased premises, or event that the Premises are at any portion thereof, shall be damaged time during the term of this Lease partially damaged by fire fire, flood, tornado, windstorm, or any casualty insurable under by the standard fire elements, or otherwise, Landlord shall, as speedily as circumstances permit, repair said damage and extended restore the Premises and such condition, or, with respect to the Premises, with such modification as Landlord and Tenant shall agree to in writing, and this Lease shall remain and continue in full force and effect; provided that such loss is insured and that all proceeds of such insurance coverage insurance policies, but are made available to Landlord and are not wholly untenantablesubject to any superior right thereto of any mortgagee or other party and, the Lessor shall repair and/or rebuild the same as promptly as possible, further provided that Tenant shall, at its sole expense, diligently repair, restore or replace all damaged or destroyed leasehold improvements (other than the proceeds from Lessor's insurance policies tenant improvement work performed by Landlord pursuant to Paragraph 3 hereinabove), fixtures, furniture, equipment and other property of Tenant in, on or about the Premises. Tenant shall continue to conduct its business on the Premises during such replacement, restoration or rebuilding to the extent reasonably practicable. In the event that the Premises are available rendered partially untenantable as a result of the foregoing, then the Monthly Rent shall be abated proportionately to Lessor. The Lessor the extent that the Premises are rendered untenantable during such replacement restoration or rebuilding; PROVIDED, HOWEVER, Tenant shall not be entitled to any compensation or damages from Landlord for injury to its business, loss or impairment in the use of the Premises or any part thereof or any property of Tenant or any other injury or inconvenience occasioned by such damage, replacement, restoration or rebuilding. If the Premises shall be completely damaged or destroyed, or in the event that the damage is such that, in the opinion of Landlord, it is not practical or desirable to repair or rebuild the same, then Landlord may within sixty (60) days following the date of such casualty elect to terminate this Lease by so notifying Tenant in writing PROVIDED, HOWEVER, that in all events if Landlord is required to repair or rebuild any fixtures, installations, improvements, or leasehold improvements made the Premises pursuant to the interior terms and provisions of Section 15 of the leased premises by LesseeMaster Lease, nor Lessee's exterior signsthen and in such event Landlord shall repair or rebuild the Premises (and Landlord shall notify Tenant in all events whether it shall rebuild or repair the Premises within the aforesaid sixty (60) day period. Such repairs and/or replacements are to be made by Lessee. In such event, If the Lease is terminated pursuant to the preceding sentence, this Lease shall not terminateterminate as of the date set forth in said notice, but all insurance proceeds available as a result of damage or destruction to the Premises and any fixtures and other property a part thereof or appurtenant thereto shall be paid to Landlord, and both parties shall be released from any further obligation or liability hereunder, except as to the payment by Tenant to Landlord of all rentals and all other sums accrued and unpaid as of the date set forth in said notice. Landlord expressly acknowledges that the racks in the warehouse and the modular furniture installed by Tenant shall remain in full force and effect, and a proportionate reduction in the fixed minimum monthly rental shall be made from the time of such fire or casualty until said premises are repaired or restored, except (i) if the Lessee can use and occupy the leased premises without substantial inconvenience; or (ii) if said repairs are delayed at the request or by reason of any act on the part of the Lessee which prevents or delays the repair of said premises by Lessor, there shall be no reduction in rental while said premises are being repaired, nor for any period of delay caused by or requested by Lessee. Lessors obligation to repair shall be subject to any delays from labor troubles, material shortages, insurance claim negotiations, or any other causes, whether similar or dissimilar to the foregoing, beyond LessorTenant's controltrade fixtures.

Damage or Destruction to Premises. (a) If In the leased premisesevent of substantial damage, or any portion thereofunless this Lease is terminated as hereinafter provided, shall be damaged during the term by fire or any casualty insurable under the standard fire and extended coverage insurance policies, but are not wholly untenantable, the Lessor shall with all due diligence commence to repair and/or rebuild the Premises to the same condition as promptly as possibleexisted immediately prior to such damage, provided that the proceeds from Lessor's insurance policies are available to Lessor. The and Lessor shall not be required to complete such repair or rebuild any fixtureswith due diligence and dispatch, installations, improvements, or leasehold improvements made to the interior of the leased premises by Lessee, nor Lessee's exterior signs. Such repairs and/or replacements are to be made by Lessee. In such event, the and this Lease shall not terminate, but shall remain and continue in full force and effect; provided, that such loss is insured and that all proceeds of such insurance coverage are made available to Lessor and are not subject to any superior right thereto of any other party; provided, further that Lessee shall repair all damage caused by the acts or omissions of Lessee or Lessee's officers, employees, agents or contractors and further provided, that Lessee shall, at its sole expense, diligently repair, restore or replace all damage or destroyed leasehold improvements, fixtures, furniture, equipment and other property of Lessee in, on or at the Premises. Lessor repair responsibilities hereunder shall be limited to available insurance proceeds, and a proportionate reduction in the fixed minimum monthly rental Lessee shall be made from the time responsible for all repair costs in excess of such fire or casualty until said premises are repaired or restored, except (i) if the Lessee can use and occupy the leased premises without substantial inconvenience; or (ii) if said repairs are delayed at the request or by reason of any act on the part of the Lessee which prevents or delays the repair of said premises by Lessor, there available insurance proceeds. There shall be no reduction abatement of rent during any such repair period. If the damage is not repaired within ninety (90) days after the date the damage occurs, Lessee shall have the right to terminate this Lease by giving Lessor written notice. Upon such termination, any unearned rent or other payments paid in rental while said premises are being repaired, nor for any period advance beyond the date of delay caused damage shall immediately be refunded to Tenant. In the event the damage to the Premises by or requested by Lessee. Lessors obligation to repair shall be subject to any delays from labor troubles, material shortages, insurance claim negotiations, fire or any other causescasualty (but not including any damage caused by the acts or omissions of Lessee or Lessee's officers, whether similar employees, agents, contractors or dissimilar employees) equals or exceeds fifty percent (50%) of the replacement value thereof as of the date such damage occurs, either Lessee or Lessor may elect to terminate this Lease by giving notice in writing of such election to the foregoingother party within thirty (30) days from the date the damage occurs. Upon such termination, any unearned rent or other payments paid in advance beyond Lessor's controlthe date of damage shall immediately be refunded to Lessee. If Lessor and Lessee cannot agree whether damage or destruction of the Premises is "minor damage" or "substantial damage" or whether the damage to the Premises equals or exceeds fifty percent (50%) of its replacement value, then the parties agree to submit such disputed issue or issues to binding arbitration. Within forty-five (45) days of such damage or destruction, each party shall select an arbitrator who is a duly licensed general contractor in the State of Nebraska. If these arbitrators are unable to agree upon the issue or issues submitted to them within ten (10) days following their appointment, then such arbitrators shall elect a third arbitrator of like qualification, and the decision of the third arbitrator shall be controlling. Each party to this Lease shall pay for the services of its selected arbitrator. The decision of the arbitrators or arbitrator in regard to any issue or issues submitted shall be final and binding upon the parties.