DAMAGE TO OR DESTRUCTION OF PREMISES Sample Clauses

DAMAGE TO OR DESTRUCTION OF PREMISES. 13.1 If the Premises are damaged by fire or other casualty or if the Building is so damaged thereby restricting the use of the Premises then the Rent will xxxxx in whole or in part according to the portion of the Premises which is non-usable by the Tenant until such damage is repaired and the Tenant is able to operate its business therefrom. 13.2 Except as provided in Section 12.3 if the Premises is damaged by fire or other casualty, the damages to the Premises will be repaired by the Landlord at its expense except that repairs to alterations or improvements made by the Tenant at its expense will be performed by the Landlord at the expense of the Tenant and the Tenant will at its own expense make all repairs and replacements of property which the Tenant is entitled to remove pursuant to Section 8.3. All repairs which the Landlord is required to make hereunder will be made with due diligence provided that the Landlord will not be liable to the Tenant for any loss or damage suffered by the Tenant as a result of any reasonable delay which may arise by reason of adjustment of insurance on the part of the Landlord on account of labour troubles or any other cause beyond the Landlord’s control. 13.3 If the Premises are rendered untenantable by fire or other casualty and if the Landlord decides not to restore the same or if the Building is so damaged that the Landlord will decide not to restore it or it is determined by the Landlord, acting reasonably, that the Building or the Premises cannot be restored within 6 months of such damage, then in any of such events, the Landlord will, within 45 days after such fire or other casualty, give to the Tenant a notice in writing of such decision and within 30 days thereafter either the Landlord or Tenant may elect to terminate this Lease by notice in writing, the Term will expire forthwith, and the Tenant will vacate the Premises and surrender the same to the Landlord. If the Landlord does not give notice as aforesaid and the Premises or the Building, as the case may be, are not restored within six months from the time of the fire or other casualty causing the damage (subject to such time period being extended by the length of any reasonable delay which may arise by reason of adjustment of insurance on the part of the Landlord on account of labour troubles or any other cause beyond the Landlord’s control) the Tenant may at its option, to be exercised within 10 days of the termination of said period of six months (or the ter...

DAMAGE TO OR DESTRUCTION OF PREMISES. 22.1 If the Building or Premises is destroyed or so damaged that the Lessee can no longer beneficially occupy the Premises, this lease shall terminate when that happens unless the parties agree otherwise in writing. 22.2 If the Premises is significantly damaged but can still be beneficially occupied, this Agreement shall remain in force and the Lessor shall repair the damage without undue delay, but the rent shall be abated so as to compensate the Lessee fairly for the effects of the damage and repair work on the enjoyment of the Premises. Failing agreement on such abatement or on the applicability of this clause to any particular circumstances, the matter shall be referred to an expert appointed by the parties jointly or, if they do not agree on such appointment, nominated by the President for the time being of The Institute of Estate Agents of South Africa, and the decision of such expert shall be final and binding. The expert's fees and disbursements, including any inspection costs, shall be borne and paid by the parties in equal shares. Pending determination of the abatement the Lessee shall continue to pay the full rent for the Premises as if they had not been damaged, and as soon as the matter has been resolved the Lessor shall make the appropriate repayment, if any, to the Lessee. 22.3 Subject to 17, if any damage to the Premises or the destruction thereof is caused by an act or omission for which either party is responsible in terms of this Agreement or in law, the other party shall not be precluded by reason of any of the aforegoing provisions of this 22 from exercising or pursuing any alternative or additional right of action or remedy available to the latter party under the circumstances (whether in terms of this Agreement or in law).

DAMAGE TO OR DESTRUCTION OF PREMISES. In the event of any damage to or destruction of the Premises, Borrower shall give prompt written notice to Lender and, provided Lender makes the Proceeds available for the costs of repair, restoration and rebuilding, Borrower shall promptly commence and diligently continue to completion the repair, restoration and rebuilding of the Premises so damaged or destroyed in full compliance with all legal requirements and with the provisions of Section 6.1.F below, and free and clear from any and all liens and claims. Such repair, restoration and rebuilding of the Premises are sometimes hereinafter collectively referred to as the "Work." Borrower shall not adjust, compromise or settle any claim(s) for insurance Proceeds without the prior written consent of Lender unless such claim(s) does not exceed $100,000 in the aggregate in which case no consent of Lender is required. Subject to Sections 6.1E and F, below, Lender shall have the option in its sole discretion to apply any insurance Proceeds it may receive pursuant to the Mortgage (less any cost to Lender of recovering and paying out such Proceeds, including reasonable attorneys' fees) to the payment of the Indebtedness or to allow all or a portion of such Proceeds to be used for the Work. If any insurance Proceeds are applied to reduce the Indebtedness, Lender shall apply the same in the following order: (1) first, to the payment of interest due on any Advances; (2) next, to the principal amount of any Advances; (3) next, to any Late Charges (as provided in the Note); (4) next, to accrued interest then due under the Note; and (5) finally, to the unpaid principal balance of the Note. If Lender applies insurance Proceeds to reduce the Indebtedness, no prepayment fee shall be due with respect to any prepayment effected thereby.

DAMAGE TO OR DESTRUCTION OF PREMISES. Provided that if during the Term hereby demised or any extension thereof, the Demised Premises shall be damaged or destroyed and the Tenant is not required by the terms of this Lease to repair such damage, the Landlord may repair or rebuild the Demised Premises or terminate this Lease. If the Landlord elects to repair or rebuild the Demised Premises, for the duration of such work the Rent shall xxxxx in the proportion that the part of the Demised Premises rendered unfit for occupancy bears to the whole of the Demised Premises until the Demised Premises are rebuilt; and the Landlord agrees that it will with reasonable diligence subject always to the provisions of paragraphs 6.0.02.

DAMAGE TO OR DESTRUCTION OF PREMISES. If the Premises should be damaged or destroyed by any cause Lessee shall not be entitled to terminate this Lease and Lessor shall, with reasonable speed, repair or rebuild the Premises so that they are restored to the same utility for the uses described herein that they had immediately prior to the happening of such damage or destruction, to the extend possible with the insurance proceeds paid to Lessor as a result of the damage or destruction. During the period of time that Lessee is unable to occupy the Premises for its intended uses as described herein due to damage or destruction not caused, directly or indirectly, by the conduct of Lessee, its agents, employees, visitors or invitees, the basic rent (as set forth in Section 3.1) shall be reduced by an amount which bears the same ratio to the basic rent hereunder as the unusable square footage bears to the total number of square feet comprising the Premises. In the event that the repair or rebuilding of the Premises, as described in this paragraph, is not completed within 180 days of the date the damage or destruction occurred, then Lessee may terminate the Lease by providing prior written notice to Lessor of its intention to terminate.

DAMAGE TO OR DESTRUCTION OF PREMISES. If, during the Term, the Building or the Premises are destroyed by any cause whatsoever, or partially destroyed by any cause, so as to render the Premises unfit for occupancy or occupation, or incapable of access, or if the Premises shall be badly damaged that, in the opinion of the an architect selected by the Tenant and approved by the Landlord, acting reasonably (the “Architect”), repairs cannot be completed within One Hundred Eighty (180) days of the occurrence of such damage, then this Lease, at the option of the Landlord or the Tenant, shall cease and terminate and become null and void from the date of such damage or destruction and the Tenant shall thereupon surrender the Premises and all interest therein to the Landlord, and the Tenant shall pay rent only to the date of such surrender. The Landlord will not exercise its termination right hereunder in a manner discriminatory as against the Tenant vis a vis other tenants of the Building.

DAMAGE TO OR DESTRUCTION OF PREMISES. A. In the event of a partial destruction of the Premises from any cause covered by Landlord’s standard fire and extended coverage insurance, Landlord shall immediately repair such destruction provided the cost of repair does not exceed the insurance proceeds and such repairs can be made within 60 days. However, partial destruction shall in no way annul or void this Lease, but Tenant shall be entitled to a proportionate reduction of rent while repairs are being made. If partial destruction was caused by any risk not covered by Landlord’s insurance, or if the cost of repair exceeds the insurance proceeds payable, Landlord may, at its option, make such repairs, provided the repairs can be made within 60 days, and this Lease shall remain in full force and effect. B. If Landlord does not elect to make repairs, it is not obligated to make, or if repairs cannot be made within days, or if repairs cannot be made under law, this Lease may be terminated at the option of either party. C. In the event the Building is destroyed to the extent of not less than 50% of the replacement cost of it, Landlord may elect to terminate this Lease, whether the Premises are injured or not and without liability to Tenant. D. A total destruction of the Premises, or of the Building, shall terminate this Lease. E. In the event of any dispute between Landlord and Tenant relative to the provisions of this Section, they shall submit their dispute to arbitration in accordance with the rules of the American Arbitration Association. The arbitration shall be final and binding upon both Landlord and Tenant, and the cost of the arbitration shall be borne equally between them.

DAMAGE TO OR DESTRUCTION OF PREMISES. 19.1 If the main residential Building on the Property is destroyed or so damaged that it can no longer be beneficially occupied, this lease shall terminate when that happens unless the parties agree in writing otherwise. 19.2 If such Building or any other Building on the Property is significantly damaged but can still be beneficially occupied, this lease shall remain in force and the Lessor shall repair the damage without undue delay. 19.3 The Lessee shall have no claim against the Lessor for any damage to any of the Buildings or the destruction thereof as a result of an act or omission for which the Lessor is responsible. 19.4 If any damage to any of the Buildings or the destruction thereof is caused by an act or omission for which the Lessee is responsible in terms of this lease or in law, the Lessor shall not be precluded by reason of any of the aforegoing provisions of this clause 19 from exercising or pursuing any alternative or additional right of action or remedy available to it under the circumstances.

DAMAGE TO OR DESTRUCTION OF PREMISES. If the Premises should be damaged or destroyed by any cause Lessee shall not be entitled to terminate this Lease and Lessor shall, with reasonable speed, repair or rebuild the Premises so that they are restored to the same utility for the uses described herein that they had immediately prior to the happening of such damage or destruction, to the extent possible with the insurance proceeds paid to Lessor as a result of the damage or destruction. So long as Lessee shall be unable to occupy the Premises for the uses described herein because of any damage or destruction not caused by the conduct of Lessee, its agents, employees, visitors or invitees, its basic rent shall be reduced by an amount which bears the same ratio to the basic rent hereunder as the unusable square footage bears to the total number of square feet comprising the Premises.

DAMAGE TO OR DESTRUCTION OF PREMISES. If, in the opinion of Lessor, the Apartment, or any part thereof, is rendered unusable because the Apartment, any part thereof, or the building in which the Apartment is located is: (a) destroyed or damaged by fire or other casualty or (b) taken by eminent domain, then this Lease may terminate if Lessor so elects upon 30 days written notice to Lessees. If this Lease is not so terminated, a proportionate reduction in rent, determined by Lessor, will be allowed until the Apartment and all parts thereof are returned to usable conditions by Lessor; provided, however, that such reduction will be allowed only if the damage occurred through no fault of Lessees.