Common use of Damage or Destruction to the Premises Clause in Contracts

Damage or Destruction to the Premises. (a) If the Premises is damaged or destroyed by fire or other casualty insured under the coverage Landlord is required to carry under Article 6 of this Lease, subject to the limitations set forth below, Landlord shall repair such damage. If Landlord fails to complete such repairs within twelve (12) months following the casualty (or such longer period if the work is not capable of being performed by such date (including, without limitation, as a result of Landlord’s inability to obtain permits) provided Landlord is diligently working to complete the same), Tenant will have the right to terminate this Lease by written notice to Landlord within thirty (30) days following the end of such construction period. In the event of such termination, the parties will be released from all further obligations under this Lease except for accrued obligations then unpaid or unperformed. (b) If the Premises is damaged or destroyed by a fire or other casualty (i) which is not insured under the coverage Landlord is required to carry under Article 6 of this Lease, and Landlord at its option elects not to repair the Premises, or (ii) to the extent of more than fifty percent (50%) of the cost to replace the Premises during the Term of this Lease, then either party will have the right to terminate this Lease effective as of the date of such casualty by written notice to the other within sixty (60) days after the damage or destruction. In exercising its termination rights under this Section, Landlord will not unreasonably discriminate between Tenant and other tenants of the Plaza whose premises are similarly affected by the casualty. In the event this Lease is so terminated, the parties will be released from all further obligations under this Lease except for accrued obligations then unpaid or unperformed. (c) If Landlord is required to repair or reconstruct the Premises pursuant to the provisions of this Lease, its obligation will be limited to the construction of the structural demising walls (without drywall) and roof of the Premises. Tenant shall submit to Landlord for its approval detailed plans and specifications for all other work not required to be performed by Landlord. Upon approval of such plans and specifications and within fifteen (15) days following notice that Xxxxxxxx’s repairs are complete, Tenant shall promptly commence and diligently pursue to completion all work to restore the Premises to the condition immediately prior to the casualty, except for the work required by Landlord above. If Tenant has closed for business, Tenant shall promptly reopen for business upon completion of Tenant’s repairs but in any event within seventy-five (75) days after Landlord substantially completes any work required by Landlord. If this Lease is terminated as described above, the parties will be released from all further obligations under this Lease except for accrued obligations then unpaid or unperformed.‌ (d) Tenant shall notify Landlord of any accident or damage occurring in, on or about the Premises as soon as possible but in no event later than seventy-two (72) hours after Tenant has knowledge of such accident or damage, except that notice is not required if Landlord has actual knowledge of such accident or damage. If Tenant fails to so notify Landlord, and Landlord’s insurance is detrimentally affected thereby, then in addition to all other rights and remedies available to Landlord under this Lease or at law or in equity, Landlord shall, at its option, be relieved of any of the obligations set forth in this Section 12.01. (e) Notwithstanding anything contained herein to the contrary, Tenant shall be responsible for all repairs and replacements of damage and/or destruction of the Premises necessitated by burglary or attempted burglary, or any other illegal or forcible entry into the Premises.‌

Damage or Destruction to the Premises. (a) If the Building or Premises is are damaged or destroyed by fire or other casualty insured under (“Casualty”), then, unless the coverage Lease is terminated as provided in this Section 23, Landlord is required shall repair and restore the Building to carry under Article 6 of this Leasesubstantially the same condition immediately prior to such Casualty and the Premises to the Shell Condition, subject to the limitations set forth belowfollowing terms and conditions: (i) The Casualty must be insured under Landlord’s insurance policies, and Landlord’s obligation is limited to the extent of the insurance proceeds received by Landlord. Landlord’s duty to repair and restore the Premises shall not begin until receipt of the insurance proceeds. (ii) Landlord’s lender(s) must permit the insurance proceeds to be used for such repair and restoration. (iii) Landlord shall have no obligation to repair and restore the Premises beyond the Shell Condition. Without limiting the foregoing, Landlord shall repair such damage. If Landlord fails have no obligations to complete such repairs within twelve (12) months following restore or replace Tenant’s trade fixtures, decorations, signs, contents, or any non-standard improvements to the casualty (or such longer period if the work is not capable of being performed by such date (including, without limitation, as a result of Landlord’s inability to obtain permits) provided Landlord is diligently working to complete the same), Tenant will have the right to terminate this Lease by written notice to Landlord within thirty (30) days following the end of such construction period. In the event of such termination, the parties will be released from all further obligations under this Lease except for accrued obligations then unpaid or unperformedPremises. (b) If Unless the Lease is terminated as provided in this Section 23, Tenant shall promptly repair, restore, or replace Tenant’s property. All repair, restoration or replacement of Tenant’s property shall be at least to the same condition as existed prior to the Casualty. (c) Landlord shall have the option of terminating the Lease following the Casualty if: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or destroyed by in part as a fire or other casualty (i) result of a risk which is not insured under covered by Landlord’s insurance policies; (iii) Landlord’s lender does not permit a sufficient amount of the coverage Landlord insurance proceeds to be used for restoration purposes; (iv) the Premises is required to carry under Article 6 damaged in whole or in part during the last two years of this Lease, and Landlord at its option elects not to repair the Premises, Term; or (iiv) the Building containing the Premises is damaged (whether or not the Premises are damaged) to the an extent of more than fifty percent (50%) or more of the cost fair market value thereof. If Landlord elects to replace the Premises during the Term of terminate this Lease, then either party will have the right to terminate this Lease effective as it shall give notice of the date of such casualty by written notice cancellation to the other Tenant within sixty (60) days after the damage or destruction. In exercising its termination rights under this Section, Landlord will not unreasonably discriminate between Tenant and other tenants date of the Plaza whose premises are similarly affected by the casualty. In the event this Lease is so terminated, the parties will be released from all further obligations under this Lease except for accrued obligations then unpaid or unperformed. (c) If Landlord is required to repair or reconstruct the Premises pursuant to the provisions of this Lease, its obligation will be limited to the construction of the structural demising walls (without drywall) and roof of the PremisesCasualty. Tenant shall submit vacate and surrender the Premises to Landlord for its approval detailed plans and specifications for all other work not required to be performed by Landlord. Upon approval of such plans and specifications and within fifteen (15) days following after receipt of the notice that Xxxxxxxx’s repairs are complete, Tenant shall promptly commence and diligently pursue to completion all work to restore the Premises to the condition immediately prior to the casualty, except for the work required by Landlord above. If Tenant has closed for business, Tenant shall promptly reopen for business upon completion of Tenant’s repairs but in any event within seventy-five (75) days after Landlord substantially completes any work required by Landlord. If this Lease is terminated as described above, the parties will be released from all further obligations under this Lease except for accrued obligations then unpaid or unperformed.‌termination. (d) Tenant shall notify have the option of terminating the Lease if: (i) Landlord has failed to substantially restore the damaged Building or the Shell Condition of any accident or damage occurring in, on or about the Premises within one hundred eighty (180) days of the Casualty (the “Restoration Period”); (ii) the Restoration Period has not been delayed by force majeure; and (iii) Tenant gives Landlord notice of the termination within fifteen (15) days after the end of the Restoration Period (as soon as possible but in no event later than seventy-two (72) hours after Tenant has knowledge of such accident or damage, except that notice is not required if Landlord has actual knowledge of such accident or damageextended by any force majeure delays). If Tenant fails to so notify Landlord, and Landlord’s insurance Landlord is detrimentally affected therebydelayed by force majeure, then in addition to all other rights and remedies available to Landlord under this Lease or at law or in equity, Landlord shall, at its option, be relieved of any must provide Tenant with notice of the obligations set forth in this Section 12.01delays within fifteen (15) days of the force majeure event stating the reason for the delays and a good faith estimate of the length of the delays. (e) Notwithstanding anything contained herein to If the contraryPremises are rendered wholly untenantable by the Casualty, then the Rent payable by Tenant shall be responsible for all repairs fully abated. If the Premises are only partially damaged, then Tenant shall continue the operation of Tenant’s business in any part not damaged to the extent reasonably practicable from the standpoint of prudent business management, and replacements of damage and/or destruction Rent and other charges shall be abated proportionately to the portion of the Premises necessitated by burglary or attempted burglaryrendered untenantable. The abatement shall be from the date of the Casualty until sixty (60) days after delivery to Tenant of the Premises in their Shell Condition, or any until Tenant’s business operations are restored in the entire Premises, whichever shall first occur. However, if the Casualty is caused by the negligence or other illegal wrongful conduct of Tenant or forcible entry into of Tenant’s subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. The abatement of the Premises.‌Rent set forth above, and the right to terminate the Lease set forth in Section 23(d), are Tenant’s exclusive remedies against Landlord in the event of a Casualty.