Damage to or Destruction of Leased Premises. 9.1 Landlord's Option to Rebuild or Terminate. In the event that all or a substantial portion of the Premises is materially damaged or destroyed during the term of this Lease, Landlord may, at its option (i) require Tenant to promptly rebuild and restore the Premises at its expenses in accordance with customary standards in Buck County, Pennsylvania, and subject to the written approval of Landlord and Landlord's architect, and Landlord shall assign and pay over to a title company administering construction payments, and all insurance proceeds or other amounts payable to Landlord or by any party on account of such damage or destruction (not including any insurance proceeds or other amounts received to compensate Landlord for the loss of its rental income), or (ii) within thirty (30) days after such damages or destruction, terminate this Lease effective as of the date of such damage or destruction and all rights and obligations of Landlord and Tenant hereunder not accrued as of the date of such damage or destruction, shall cease and terminate as of the date thereof, Tenant shall assign and pay over to Landlord any and all insurance proceeds or other any amounts received on account of such damage or destruction (not including any insurance proceeds or other amounts received to compensate Tenant for the interruption of its business or revenues lost to Tenant).
Damage to or Destruction of Leased Premises. If during the term of the ------------------------------------------- Lease, the Leased Premises are damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of God, or other casualty so that the same are rendered wholly unfit for occupancy, and if said Leased Premises cannot be repaired within one hundred eighty (180) days from the time of such damage, then this Lease, at the option of the Lessor, may be terminated as of the date of such damage. In the event that the Lessor elects to terminate this Lease, the Lessee shall pay the Fixed Rent and any Additional Rent apportioned to the time of damage and shall immediately as practicable surrender the Leased Premises to the Lessor who may enter upon and repossess the same and from and after the date of surrender, Lessee shall be relieved from any further liability hereunder. If the Lessor elects not to terminate the Lease or if any damage by any of the above casualties, rendering the Leased Premises wholly unfit, can be repaired within one hundred eighty (180) days thereafter, Lessor agrees to repair such damage promptly within such period and this Lease shall not be affected in any manner except that the Fixed Rent and Additional Rent shall be suspended and shall not accrue from the date of such damage until such repairs have been completed. If said Leased Premises shall be so slightly damaged by any of the above casualties as not to be rendered wholly unfit for occupancy, Lessor shall repair the Leased Premises promptly to Lessee's reasonable satisfaction and during the period from the date of such damage until the repairs are completed the Fixed Rent shall be apportioned so that the Lessee shall pay as Fixed Rent an amount which bears the same ratio to the entire monthly Fixed Rent as the portion of the Leased Premises which Lessee is able to occupy without disturbance during such period bears to the entire Leased Premises. If the damage by any of the above casualties is so slight that Lessee is not disturbed in its possession and enjoyment of the Leased Premises, then Lessor shall repair the same promptly and in that case the Fixed Rent and Additional Rent accrued or accruing shall not xxxxx. Notwithstanding anything herein contained to the contrary, if the cost of repair or restoration exceeds thirty (30%) percent of the replacement value, less foundation, of the Building, then Lessor shall have the option, exercisable on written notice to Lessee within sixty (60) days of such damage, no...
Damage to or Destruction of Leased Premises. (1) In case the Building is destroyed or so damaged as to be unfit for the purposes of the Tenant by fire or any other peril against which the Tenant is obligated to insure under this lease, and has so insured and either
Damage to or Destruction of Leased Premises. In the event the Leased Premises are destroyed or damaged by fire or other casualty, not caused by negligence or misuse by District, so as to be unfit for ordinary occupancy and use by District, its employees, students or invitees, then District shall have the option to terminate this Lease, with no further obligation or liability to Lessor. In the event the Leased Premises are damaged and unavailable for a period of time of less than ninety (90) days, District shall have the option of receiving an equitable reduction of the rent based on the amount of space that is available for use by District. Lessor agrees that is will promptly repair the Leased Premises to a condition that is fully usable by District for the purposes intended by this Agreement.
Damage to or Destruction of Leased Premises. 24.1 The Landlord shall be entitled to cancel the Lease if:
Damage to or Destruction of Leased Premises. (a) If during the term of this Lease the building on the demised Leased Premises is totally destroyed from any cause except the negligent or intentional acts of Tenant, its employees or agents, the term of this Lease shall end; although the other obligations of the parties hereto prior to the end of the lease term shall be enforceable.
Damage to or Destruction of Leased Premises. If, during the Term and Extended Term of this Lease, the Leased Premises shall be damaged to such an extent that the repair of such damage and the restoration of the Leased Premises can be accomplished, with reasonable diligence, within ninety (90) days after such damage, Company shall promptly repair such damage and cause the Leased Premises to be restored to their condition prior to the event causing the damage. If, during the Term and Extended Term of this Lease, the Leased Premises shall be destroyed or damaged, or partially destroyed or damaged, without Company’s fault to such an extent that the repair of such destruction or damage and the restoration of the Leased Premises cannot be accomplished, with reasonable diligence, within ninety (90) days after such destruction or damage, then Company shall promptly notify City in writing of such fact within ten (10) days after the date of such destruction or damage and Company shall thereafter have the right, during a period of thirty (30) days following such notification, to terminate this Lease by written notice to the City, declaring this Lease to be terminated provided, however, that, as a condition precedent to such termination, the proceeds of insurance required to be maintained by Company under Section 7.4.3 (or an amount equal to the insurance proceeds which would have been available but for the failure to maintain such insurance) shall be paid by Company to City. Unless such notice of immediate termination shall be given within such 30-day period, this Lease shall continue in full force and effect.
Damage to or Destruction of Leased Premises. If the Leased Premises or any part thereof is destroyed or damaged by fire or other casualty, or taken by eminent domain, this Lease may be terminated by LESSOR if it is of the opinion that the Leased Premises has been rendered unusable. If this Lease is not so terminated, a proportionate reduction in rent, determined by LESSOR, shall be allowed until the Leased Premises is restored by LESSOR to usable condition. Such reduction in rent shall only be allowed if the damage occurred through no fault of LESSEE or its Sublessees.
Damage to or Destruction of Leased Premises. If the Leased Premises are destroyed or so damaged that they can no longer be beneficially occupied, the Lessor shall be entitled to immediately terminate this Lease at its sole discretion, alternatively in the Lessor’s sole discretion, it shall be entitled to suspend the operation of this Lease until such time as the Leased Premises are restored to a position that is reasonably lettable, where after the provisions of this Lease shall continue.
Damage to or Destruction of Leased Premises. If at any time during the Lease Term of this Agreement, some or all of the Leased Premises are damaged by fire or other casualty, either Party shall have the right to, and may give notice of, its election to terminate this Agreement. In the event of damage to or destruction of the Leased Premises and if neither Party elects to terminate this Agreement, this Agreement shall continue in full force and effect and the Landlord shall restore the Leased Premises to substantially the same condition as immediately prior to the damages within a reasonable time.
