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

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 agreement, at the option of the Lessor or lessee, may be terminated as of the date of such damage. In the event that the Lessor elects to terminate this lease agreement, the lessee shall pay the rent apportioned to the time of damage and shall immediately as practicable surrender the leased premises to the Lessor who may enter upon the repossess the same and Lessee shall be relieved from any further reliability hereunder. If the parties elect not to terminate the lease agreement 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 agreement shall not be affected in Any manner except that the 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 and to Lessee's satisfaction and during the period from the date of such damage until the repairs are completed the rent shall be apportioned so that the Lessee shall pay as rent an amount which bears the same ratio 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 rent accrued or accruing shall not abate. NOTWITHSTANDING, anything herein contained to the contrxxx, if the cost of repair or restoration exceeds 30% of the replacement value, less foundation, of the Premises, then lessor shall have the option, exercisable on written notice to Lessee within 60 days of such damage, not to repair and restore the Premises. Lessee hereby expressly waives the provisions of Section 227 of the Real Property Law or any other law or statute hereafter enacted of similar import and agrees that the foregoing provisions of this paragraph shall govern and control in lieu thereof.

Damage to or Destruction of Leased Premises. (a) If during the term of this Lease the leasebuilding on the demised Leased Premises is totally destroyed from any cause except the negligent or intentional acts of Tenant, its employees or agents, the leased premises are 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. (b) In case such building is damaged by fire, flood, windstorm, strikes, riots, civil commotions, from any cause except the negligent or intentional acts of GodTenant, its employees or agents, to a degree which materially adversely affects Tenant's use of the Leased Premises as contemplated herein and of such character as cannot reasonably be expected to be repaired, or other casualty so that the same are rendered wholly unfit for occupancyLeased Premises restored, and if said leased premises cannot be repaired within one hundred eighty sixty (18060) days from the time of such damage, then this lease agreementeither Tenant or Landlord may, at the option of the Lessor or lesseetheir option, may be terminated as of the date of such damage. In the event that the Lessor elects to terminate this lease agreementby giving the other party written notice thereof within thirty (30) days after such damage. (c) In case such building is damaged to a degree which does not materially adversely affect Tenant's use of the Leased Premises as contemplated herein, this Lease may not be terminated, and Landlord shall repair such building with all reasonable speed, and for that purpose shall have a right to enter said Leased Premises. Rent shall be pro-rated during this period of time. (d) In case such building shall be destroyed or damaged by any cause except the negligent or intentional acts of Tenant its employees or agents, prepaid rent shall be refunded or credited in whole or in part, and future rent shall xxxxx in whole or in part, as may be equitable under all the circumstances during such time as the Leased Premises is not able to be occupied by Xxxxxx. (e) Should any dispute arise as to the application of the provision of this section, the lessee parties agree to resolve such dispute expeditiously by arbitration. Each party shall pay select an arbitrator and the rent apportioned two arbitrators so selected shall select a third arbitrator; the dispute to be heard by all three arbitrators so selected. A decision by at least a majority of the time of damage and shall immediately as practicable surrender the leased premises to the Lessor who may enter upon the repossess the same and Lessee three arbitrators shall be relieved final and binding on the Landlord and Xxxxxx. The cost of the arbitrators shall be paid equally by the Landlord and the Tenant. (f) If, during the term of this Lease, the building on the demised Leased Premises is damaged or destroyed from any further reliability hereunder. If cause, it is expressly agreed that the parties elect not to terminate the lease agreement 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 agreement Landlord shall not be affected liable to Tenant for interruption of Tenant's business, consequential damages, loss of profits, damage to its equipment or property or records in Any manner except that the 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 and to Lessee's satisfaction and during the period from the date of such damage until the repairs are completed the rent shall be apportioned so that the Lessee shall pay as rent an amount which bears the same ratio 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 rent accrued or accruing shall not abate. NOTWITHSTANDING, anything herein contained to the contrxxx, if the cost of repair or restoration exceeds 30% of the replacement value, less foundation, of the Premises, then lessor shall have the option, exercisable on written notice to Lessee within 60 days of such damage, not to repair and restore the Premises. Lessee hereby expressly waives the provisions of Section 227 of the Real Property Law or any other law or statute hereafter enacted of similar import and agrees that the foregoing provisions of this paragraph shall govern and control in lieu thereof.

Damage to or Destruction of Leased Premises. If (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 (I) is not capable of repair or restoration with reasonable diligence within 180 days after the date of such destruction or damage occurring, or (II) such destruction or damage occurs (a) during the term last 12 months of the leaseoriginal 5 year 3 month period, or (b) during any period of overholding pursuant to section 8.8 of the Term or of the renewal period, then at the option of either the Landlord or the Tenant exercisable within 30 days after the date of such destruction or damage occurring the Term shall terminate, the leased premises are damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts Tenant shall release to the Landlord its interest in all insurance moneys payable as a result of God, such destruction or other casualty so that the same are rendered wholly unfit for occupancydamage, and if said leased premises cannot the then current rent shall be repaired within one hundred eighty (180) days from apportioned according to the time of such destruction or damage, then this lease agreement, at . (2) If the option Building shall be only partially destroyed or damaged by fire or any other peril described in subsection (1) and shall be capable of the Lessor repair or lessee, may be terminated as of restoration with reasonable diligence within 180 days after the date of such damage. In destruction or damage occurring or if neither the event that Landlord nor the Lessor elects to terminate this lease agreement, the lessee Tenant shall pay the rent apportioned to the time of damage and shall immediately as practicable surrender the leased premises to the Lessor who may enter upon the repossess the same and Lessee shall be relieved from any further reliability hereunder. If the parties elect not to terminate the lease agreement Term pursuant to and in accordance with the provisions of subsection (1), then the Landlord shall proceed forthwith to repair or if any damage by any rebuild the Building to the same standard of construction and size as the Building was immediately prior to the destruction or damage, at the expense of the above casualtiesLandlord, rendering but only up to and not beyond 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 extent of insurance proceeds received by it and this lease agreement shall not be affected in Any manner except that any other amounts contributed by the rent shall be suspended and shall not accrue from Tenant or 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 and to Lessee's satisfaction and during the period from the date of such damage until the repairs are completed the rent shall be apportioned so that the Lessee shall pay as rent an amount which bears the same ratio 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 rent accrued or accruing shall not abate. NOTWITHSTANDING, anything herein contained to the contrxxx, if Landlord toward the cost of repair or restoration exceeds 30% of rebuilding. The Tenant shall release to the replacement value, less foundation, of the Premises, then lessor shall have the option, exercisable on written notice to Lessee within 60 days Landlord its interest in all insurance moneys payable as a result of such damage, not destruction or damage to repair permit the Landlord to proceed with such repairs or rebuilding. The Landlord shall cause each mortgagee and restore the Premises. Lessee hereby expressly waives the provisions of Section 227 of the Real Property Law or any other law person having an interest in such proceeds to release them to the Landlord, failing which the Landlord shall contribute an amount equal to the amounts retained by the mortgagees and such other persons toward the cost of repair or statute hereafter enacted rebuilding. (3) Notwithstanding anything contained in this lease, in the event of similar import partial or complete destruction of or damage to the Building during the Term, the rent reserved by this lease and agrees that all other amounts which may be payable under or pursuant to this lease shall continue to be due and payable during the foregoing provisions Term by the Tenant without abatement in the amounts and at the places and times provided for in or contemplated by this lease. The proceeds of this paragraph rental insurance maintained pursuant to section 5.4 shall govern and control be applied in lieu thereofreduction of such obligation.

Damage to or Destruction of Leased Premises. If during the term of the lease------------------------------------------- Lease, the leased premises 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 Leased Premises cannot be repaired within one hundred eighty (180) days from the time of such damage, then this lease agreementLease, at the option of the Lessor or lesseeLessor, may be terminated as of the date of such damage. In the event that the Lessor elects to terminate this lease agreementLease, the lessee Lessee shall pay the rent Fixed Rent and any Additional Rent apportioned to the time of damage and shall immediately as practicable surrender the leased premises Leased Premises to the Lessor who may enter upon the and repossess the same and from and after the date of surrender, Lessee shall be relieved from any further reliability liability hereunder. If the parties elect Lessor elects not to terminate the lease agreement Lease or if any damage by any of the above casualties, rendering the leased premises 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 agreement Lease shall not be affected in Any any manner except that the rent 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 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 Leased Premises promptly and to Lessee's reasonable satisfaction and during the period from the date of such damage until the repairs are completed the rent Fixed Rent shall be apportioned so that the Lessee shall pay as rent Fixed Rent an amount which bears the same ratio to the entire leased premisesmonthly 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 premisesLeased Premises, then lessor Lessor shall repair the same promptly and in that case the rent Fixed Rent and Additional Rent accrued or accruing shall not abatexxxxx. NOTWITHSTANDING, Notwithstanding anything herein contained to the contrxxxcontrary, if the cost of repair or restoration exceeds thirty (30% %) percent of the replacement value, less foundation, of the PremisesBuilding, then lessor Lessor shall have the option, exercisable on written notice to Lessee within 60 sixty (60) days of such damage, not to repair and restore the PremisesBuilding. Lessee hereby expressly waives the provisions of Section 227 of the Real Property Law or any other law or statute hereafter enacted of similar import and agrees that the foregoing provisions of this paragraph shall govern and control in lieu thereof.

Damage to or Destruction of Leased Premises. If (a) 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: (i) is not capable of repair or restoration with reasonable diligence within 180 days after the date of such destruction or damage occurring, or (ii) such destruction or damage occurs during the term last 12 months of the leaseTerm, then at the option of either the Landlord or the Tenant exercisable within 30 days after the date of such destruction or damage occurring the Term shall terminate, the leased premises are damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts Tenant shall release to the Landlord its interest in all insurance moneys payable as a result of God, such destruction or other casualty so that the same are rendered wholly unfit for occupancydamage, and if said leased premises cannot the then current rent shall be repaired within one hundred eighty (180) days from apportioned according to the time of such destruction or damage, then this lease agreement, at . (b) If the option Building shall be only partially destroyed or damaged by fire or any other peril described in subsection (a) and shall be capable of the Lessor repair or lessee, may be terminated as of restoration with reasonable diligence within 180 days after the date of such damage. In destruction or damage occurring or if neither the event that Landlord nor the Lessor elects to terminate this lease agreement, the lessee Tenant shall pay the rent apportioned to the time of damage and shall immediately as practicable surrender the leased premises to the Lessor who may enter upon the repossess the same and Lessee shall be relieved from any further reliability hereunder. If the parties elect not to terminate the lease agreement Term pursuant to and in accordance with the provisions of subsection (a), then the Landlord shall proceed forthwith to repair or if any damage by any rebuild the Building to the same standard of construction and size as the Building was immediately prior to the destruction or damage, at the expense of the above casualtiesLandlord, rendering but only up to and not beyond 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 extent of insurance proceeds received by it and this lease agreement shall not be affected in Any manner except that any other amounts contributed by the rent shall be suspended and shall not accrue from Tenant or 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 and to Lessee's satisfaction and during the period from the date of such damage until the repairs are completed the rent shall be apportioned so that the Lessee shall pay as rent an amount which bears the same ratio 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 rent accrued or accruing shall not abate. NOTWITHSTANDING, anything herein contained to the contrxxx, if Landlord toward the cost of repair or restoration exceeds 30% of rebuilding. The Tenant shall release to the replacement value, less foundation, of the Premises, then lessor shall have the option, exercisable on written notice to Lessee within 60 days Landlord its interest in all insurance moneys payable as a result of such damage, not destruction or damage to repair permit the Landlord to proceed with such repairs or rebuilding. The Landlord shall cause each mortgagee and restore the Premises. Lessee hereby expressly waives the provisions of Section 227 of the Real Property Law or any other law person having an interest in such proceeds to release them to the Landlord, failing which the Landlord shall contribute an amount equal to the amounts retained by the mortgagees and such other persons toward the cost of repair or statute hereafter enacted rebuilding. (c) Notwithstanding anything contained in this lease, in the event of similar import partial or complete destruction of or damage to the Building during the Term, the rent reserved by this lease and agrees that all other amounts which may be payable under or pursuant to this lease shall continue to be due and payable during the foregoing provisions Term by the Tenant without abatement in the amounts and at the places and times provided for in or contemplated by this lease. The proceeds of this paragraph rental insurance maintained pursuant to Section 5.4 shall govern and control be applied in lieu thereofreduction of such obligation.

Damage to or Destruction of Leased Premises. If during the term of the lease, the leased premises 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 Leased Premises cannot be repaired within one hundred eighty twenty (180120) days from the time of such damage, then this lease agreementLease Agreement, at the option of the Lessor or lesseeLessee, may be terminated as of the date of such damage. In the event that the Lessor elects to terminate this lease agreementLease Agreement, the lessee Lessee shall pay the rent apportioned to the time of damage and shall immediately as practicable surrender the leased premises Leased Premises to the Lessor who may enter upon the and repossess the same and Lessee shall be relieved from any further reliability liability hereunder. If the parties elect not to terminate the lease agreement Lease Agreement or if any damage by any of the above casualties, rendering the leased premises Leased Premises wholly unfit, can be repaired within one hundred eighty twenty (180120) days thereafter, Lessor agrees to repair such damage promptly within such period and this lease agreement Lease Agreement shall not be affected in Any any manner except that the rent Rent shall be suspended and shall not accrue from the date of such damage until such repairs have been completed. If said leased premises 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 Leased Premises promptly and to Lessee's satisfaction and during the period from the date of such damage until the repairs are completed the rent Rent shall be apportioned so that the Lessee shall pay as rent an amount which bears the same ratio to the entire leased premisesmonthly 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 premisesLeased Premises, then lessor Lessor shall repair the same promptly and in that case the rent accrued or accruing shall not abateabatx. NOTWITHSTANDINGXotwithstanding, anything herein contained to the contrxxxcontrary, if the cost of repair or restoration exceeds thirty (30% %) percent of the replacement value, less foundation, of the Premises, then lessor Lessor shall have the option, exercisable on written notice to Lessee within 60 sixty (60) days of such damage, not to repair and restore the PremisesPremises in which event this Lease Agreement shall terminate as of the date of the damage. Lessee hereby expressly waives the provisions of Section 227 of the Real Property Law or any other law or statute hereafter enacted of similar import and agrees that the foregoing provisions of this paragraph Paragraph shall govern and control in lieu thereof.