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

Damage to or Destruction of the Premises. In the event the Premises are materially damaged in part or destroyed in their entirety, then either party may, at its option and upon written notice to the other party, cancel this Lease effective as of the date of the damage or destruction. If neither party elects to terminate this Lease as provided in this Section 7.6, then Landlord shall restore the Premises to the conditions existing immediately prior to such damage or destruction to the extent insurance proceeds are actually received by Landlord. For purposes of this Section 7.6, “materiality” shall be deemed to be damage to at least 40% of the floor area located within the Premises. If the Premises are not materially damaged, then Landlord agrees to rebuild or repair the Premises to the extent insurance proceeds are actually received by Landlord; provided, however, that if material damage to the Premises occurs during any renewal term, Landlord shall have no obligation to rebuild or repair the Premises if such as determined by Landlord is not commercially practicable during the Term remaining as extended, and both parties shall be released from any further liability under this Lease; provided, further, that Landlord shall have no obligation to repair any material damage unless Tenant waives its right to terminate this Lease in accordance with Section 4.11 above and Tenant renews the lease for any remaining Renewal Terms. Tenant shall remain responsible for the Base Rent for the undamaged portion of the Premises which Tenant is reasonably able to use, if any, in an amount that is determined by multiplying Base Rent by the fraction that is derived by dividing the total undamaged floor area Tenant occupies by the total floor area of the Premises.

Damage to or Destruction of the Premises. In the event Section 15.01 If the Premises are materially or any part thereof shall be damaged in part or destroyed in their entiretyrendered Untenantable by fire or other insured casualty and Tenant gives prompt notice thereof to Landlord and this Lease is not terminated pursuant to any provision of this Article, then either party maypromptly after the collection of the insurance proceeds attributable to such damage (which collection Landlord shall promptly seek), Landlord shall, at its option and upon written notice expense (but only to the extent of insurance proceeds made available to Landlord, provided that Landlord shall have carried the insurance it is required to carry under this Lease, and in any event Landlord shall be required to fund the amount of any deductible thereunder and the amount that would have been paid had Landlord carried the original insurance), proceed with reasonable diligence to repair or cause to be repaired such damage to the Building, Building Equipment and Tenant’s Work (“Landlord’s Restoration Work”). All other partyrepairs required by reason of such casualty that solely relate to Tenant Improvements (including Tenant’s Work) to the extent not covered as part of “replacement value” under Landlord’s insurance policies, cancel this Lease effective shall be performed by Tenant, at its sole cost and expense, promptly and with due diligence (“Tenant’s Restoration Work”). Except as of provided in Section 15.06, the Annual Base Rent and Additional Rent shall be equitably abated to the extent that the Premises shall have been rendered Untenantable, such abatement to be from the date of the such damage or destruction. If neither party elects to terminate this Lease as provided in this Section 7.6, then Landlord shall restore the Premises to the conditions existing immediately prior date when Landlord’s Restoration Work has been substantially completed plus a reasonable additional time thereafter for Tenant to such damage or destruction to the extent insurance proceeds are actually received by Landlord. For purposes of this Section 7.6, “materiality” shall be deemed to be damage to at least 40% of the floor area located within the Premises. If the Premises are not materially damaged, then Landlord agrees to rebuild or repair the Premises to the extent insurance proceeds are actually received by Landlordperform Tenant’s Restoration Work but in no event longer than one hundred fifty (150) days; provided, however, that if material damage should Tenant reoccupy any portion of the Premises for the conduct of business earlier, then the Annual Base Rent and Additional Rent allocable to such reoccupied portion, based upon the proportion which the reoccupied portion of the Premises bears to the total area of the Premises, shall be payable by Tenant from the date of such occupancy. Section 15.02 Restoration of the Premises occurs during any renewal termin the event of a casualty or fire shall be as provided below: A. If all or part of the Premises shall be destroyed or rendered wholly Untenantable by fire or other casualty, and this Lease has not been terminated pursuant to Section 15.03, then, Landlord shall have no obligation prepare an engineering estimate of the date when Landlord’s repair work under Section 15.01 above will be substantially completed (the “Estimated Restoration Date”) and give written notice thereof to rebuild Tenant within 120 days after the date of the damage. If the Estimated Restoration Date is later than 1 year from the date of the damage, Tenant may terminate this Lease by giving Landlord written notice of its election to do so within 30 days after the date of Landlord’s notice transmitting the estimate to Tenant. If the Estimated Restoration Date is earlier than 1 year after the date of the damage, or repair the Premises if it is longer than 1 year but Tenant does not give Landlord a termination notice within such as determined by Landlord is not commercially practicable during the Term remaining as extended30 day period, and both parties shall be released from any further liability under this Lease; provided, further, that Landlord then Tenant shall have no obligation to repair any material damage unless Tenant waives its right to terminate this Lease in accordance under this Section 15.02 and Landlord shall proceed with Landlord’s Restoration Work under Section 4.11 above 15.01. B. If, however, the Estimated Restoration Date is less than 1 year from the date of damage and Tenant renews Landlord’s Restoration Work has not been substantially completed (x) within 4 months after the lease Estimated Restoration Date for any remaining Renewal Terms. reason other than Force Majeure delays or Tenant Delay, or (y) within four (24) months after the damage for any reason other than Tenant Delay, then Tenant shall remain responsible for have the Base Rent for right to terminate this Lease by giving Landlord written notice of its election to do so within 30 days after the undamaged applicable deadline under (x) or (y) above, and if Tenant timely gives such notice, this Lease shall terminate 30 days after the date thereof unless Landlord’s Restoration Work is substantially completed within such 30 period, in which event such termination notice shall be void and this Lease shall continue in full force and effect. Section 15.03 If all or any portion of the Premises which Tenant is damaged by fire or other casualty (1) at any time and sufficient insurance proceeds to perform Landlord’s Restoration Work are not available due to of the insolvency or bankruptcy of Landlord’s insurer, or (2) at any time during the last two (2) years of the Term hereof such that the cost to perform Tenant’s Restoration Work is reasonably able estimated to useexceed one fifth (1/5th) of the aggregate Annual Base Rent and estimated Additional Rent for the balance of the Term, then, in any such event this Lease and the Term hereof may be terminated at the election of either party by giving a notice in writing of its election to do so to the other party within sixty (60) days following such fire or other casualty, specifying an effective termination date not less than thirty (30) days after the date of such notice. Notwithstanding the foregoing, if anyLandlord exercises its termination right under clause (2) of this Section, and if the Extension Option has not lapsed unexercised, Tenant shall have the right to nullify such termination by giving Landlord written notice exercising such Extension Option within thirty (30) days after the date of Landlord’s termination notice. Section 15.04 Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from any such damage by fire or other casualty or the repair thereof. Landlord shall not be obligated to carry insurance of any kind on Tenant’s Property or any Improvements (including Tenant’s Work) or on any other property which is not part of the Building or Building Equipment and accordingly covered as “replacement cost” under Landlord’s policies, and Landlord shall not be obligated to repair any damage thereto or replace the same. Section 15.05 This Article shall be considered an express agreement governing any case of damage to or destruction of the Building or any part thereof by fire or other casualty, and no law providing for such a contingency in the absence of an express agreement on this subject now or hereafter in effect shall have any application in such case. Section 15.06 Notwithstanding any of the foregoing provisions of this Article, if, by reason of some action or inaction on the part of Tenant or any of its employees, agents, licensees or contractors, either (a) Landlord or any Superior Lessor, any Superior Mortgagee or the Fee Mortgagee, shall be unable to collect all of the insurance proceeds (including insurance proceeds for “business interruption/loss of rents”) applicable to damage or destruction of the Premises or the Building by fire or other casualty or (b) unless the waiver of subrogation under Section 8.03 is in effect, the Premises or the Building shall be damaged or destroyed or rendered completely or partially Untenantable on account of fire or other casualty then, without prejudice to any other remedy which may be available against Tenant, the abatement of rent provided for in this Article shall not be effective to the extent of any uncollected insurance proceeds which would have been collected but for such action or inaction of Tenant or any of its employees, agents, licensees or contractors. Section 15.07 The parties agree that Tenant’s property insurance on its Improvements (including Tenant’s Work) shall be adjusted and disbursed in accordance herewith. If a fire or other casualty occurs and this Lease is not terminated as a result thereof, then Tenant’s insurance shall be adjusted by Tenant and the proceeds thereof shall be paid to Tenant to fund Tenant’s Restoration Work. Landlord and any Superior Mortgagee shall (1) promptly endorse over to Tenant the draft or check for the proceeds attributable to the loss or, (2) at Tenant’s request, consent, in an amount that a manner acceptable to the insurer, to direct payment to Tenant, including by wire transfer. If this Lease is determined terminated as a result of a fire or other casualty, then (a) Tenant’s insurance shall be adjusted jointly by multiplying Base Rent by Landlord, any Superior Mortgagee and Tenant and (b) the fraction that is derived by dividing insurance company shall be directed to disburse the total undamaged floor area Tenant occupies by proceeds thereof in separate checks as follows: (1) the total floor area Allowance Share of such proceeds shall be paid to Landlord and the Superior Mortgagee as their interests may appear, and (2) the remaining balance of such proceeds shall paid to Tenant. For the purposes hereof, the “Allowance Share” of the Premisesproceeds of any insurance on Tenant’s Improvements shall be the amount thereof multiplied by a fraction, the numerator of which is the amount of the Tenant Allowance and the denominator of which is the aggregate cost of Tenant’s Work and any other Improvements installed in the Premises in addition to Tenant’s Work. It is agreed that the Allowance Share shall fully amortize (on an straight-line interest-free basis) over the useful life of the improvements using GAAP. (“Allowance Amortization Period”) In implementation of the foregoing in the case of a termination hereof, Landlord, any Superior Mortgagee and Tenant shall all join in a written direction letter to Tenant’s insurance company (A) advising it that this Lease has terminated as a result of the loss in question, (B) directing it to disburse, by means of separate checks, a specific amount or percentage of insurance proceeds available under Tenant’s policy to Landlord and such Superior Mortgagee (as their interest may appear) and to Tenant, respectively, (which amounts shall be determined in accordance herewith) and (C) authorizing the insurance company to rely on such letter without inquiry and agreeing that it shall not be responsible or liable to any of the signatories to the letter for complying therewith.

Damage to or Destruction of the Premises. In Section 15.01. If the Premises or any part thereof shall be damaged or rendered Untenantable by fire or other insured casualty and if Tenant gives prompt notice thereof to Landlord and this Lease is not terminated pursuant to any provision of this Article, Landlord shall diligently proceed to repair or cause to be repaired such damage to the Premises after and to the extent of Landlord's collection of the insurance proceeds (except that Landlord shall be responsible for the amount of the deductible and for the amount of any coinsurance) attributable to such damage to the Premises, provided, that Tenant shall have the right to expend its own funds and diligently repair the damage to the Premises prior to the collection by Landlord of the insurance proceeds and in such event Tenant shall be deemed to have been given an assignment of such portion of said insurance proceeds attributable to the damage to the Premises (as determined by Landlord's insurance adjuster), subject to the rights of the Paramount Mortgagee, to secure its reimbursement for such work. The rental shall be equitably abated to the extent that the Premises shall have been rendered Untenantable, such abatement to be from the date of such damage to the date the Premises shall no longer be Untenantable; provided, however, should Tenant occupy a portion of the Premises during the period the repair work is taking place and prior to the date the Premises are materially no longer Untenantable, the rent allocable to such occupied portion, based upon the proportion which the occupied portion of the Premises bears to the total area of the Premises, shall be payable by Tenant from the date of such occupancy. Section 15.02. If the Premises shall be totally damaged or rendered wholly untenantable by fire or other casualty, and Landlord has not terminated this Lease pursuant to Section 15.03, Landlord's architect shall promptly estimate the time to construct the repairs to the Premises and Landlord shall give Tenant prompt notice of such estimate and if such estimate is in part or destroyed in their entirety, excess of nine (9) months from the date of commencing the repairs; then either party may, at its option and upon written Tenant may by notice to the other party, cancel Landlord terminate this Lease effective as within thirty (30) days after Landlord advises Tenant of such estimate, without prejudice to Landlord's or Tenant's rights theretofore accrued under this Lease. If the Premises shall be totally damaged or rendered wholly Untenantable by fire or other casualty, Landlord has not terminated this Lease pursuant to Section 15.03 and Landlord has not substantially completed the making of the required repairs to the Premises within 9 months from the later of the date of the damage or destruction. If neither party elects collection of the applicable insurance proceeds, plus such additional time after such date as shall equal the aggregate period Landlord may have been delayed in doing so by Force Majeure out not more than six (6) months in the aggregate for Force Majeure adjustment and plan preparation, Tenant may by notice to Landlord terminate this Lease as provided in this Section 7.6Lease, then and if 5 days thereafter Landlord shall restore not have completed the Premises to the conditions existing immediately prior to such damage or destruction to the extent insurance proceeds are actually received by Landlord. For purposes of this Section 7.6, “materiality” shall be deemed to be damage to at least 40% making of the floor area located within required repairs, this Lease shall terminate on the Premisesexpiration of such 5-day period as if such termination date were the Expiration Date, without prejudice to Landlord's and Tenant's rights under this Lease. Section 15.03. If the Premises are shall be totally damaged or rendered wholly Untenantable by fire or other casualty or if the Building shall be so damaged by fire or other casualty that substantial alteration or reconstruction of the Building in Landlord's sole opinion, shall be required (whether or not materially the Premises shall have been so damaged), then Landlord agrees to rebuild Landlord, at its option, may terminate this Lease, by giving Tenant thirty (30) days notice of such termination, within thirty (30) days after the date of such fire or repair other casualty. In the Premises to event that such notice of termination shall be given, this Lease shall terminate as of the extent insurance proceeds are actually received by Landlord; provided, however, that if material damage to date provided in such notice of termination (whether or not the Premises occurs during any renewal term, Landlord Term shall have no obligation to rebuild or repair commenced) with the Premises same effect as if such as determined by Landlord is not commercially practicable during that date were the Term remaining as extended, and both parties shall be released from any further liability under this Lease; provided, further, that Landlord shall have no obligation to repair any material damage unless Tenant waives its right to terminate this Lease in accordance with Section 4.11 above and Tenant renews the lease for any remaining Renewal Terms. Tenant shall remain responsible for the Base Rent for the undamaged portion of the Premises which Tenant is reasonably able to use, if any, in an amount that is determined by multiplying Base Rent by the fraction that is derived by dividing the total undamaged floor area Tenant occupies by the total floor area of the PremisesExpiration Date.

Damage to or Destruction of the Premises. In the event Section 15.01. If the Premises are materially or any part thereof shall be damaged or rendered Untenantable by fire or other insured casualty and Tenant gives prompt notice thereof to Landlord and this Lease is not terminated pursuant to any provision of this Article, Landlord shall proceed, with reasonable diligence after the collection of the insurance proceeds attributable to such damage, to repair or cause to be repaired such damage to the Basic Construction of the Building and Landlord's Work. All other repairs required by reason of such casualty shall be performed by Tenant, at its sole cost and expense, promptly and with due diligence. Except as provided in part Section 15.07, the rent shall be equitably abated to the extent that the Premises shall have been rendered Untenantable, such abatement to be from the date of such damage to the date the Premises shall no longer be Untenantable, the rent allocable to such reoccupied portion, based upon the proportion which the reoccupied portion of the Premises bears to the total area of the Premises, shall be payable by Tenant from the date of such occupancy. Section 15.02. If the Premises shall be totally damaged or rendered wholly Untenantable by fire or other casualty, and Landlord has not terminated this Lease pursuant to Section 15.03 and Landlord has not completed the making of the required repairs to the Premises and access thereto within 6 months from the date of such damage or destruction and such additional time after such date (but in no event to exceed 3 months), as shall equal the aggregate period Landlord may have been delayed in doing so by Force Majeure or adjustment of insurance, Tenant, within 30 days after the date on which Landlord is required to complete the repairs pursuant to this Section, may serve notice on Landlord of its intention to terminate this Lease, and if within said 30 day period, Landlord shall not have substantially completed the making of the required repairs, this Lease shall terminate on the expiration, however, to Landlord's rights and remedies against Tenant under the terms of this Lease. Section 15.03. If the Premises shall be totally destroyed or rendered wholly Untenantable by fire or other casualty or if the Building shall be os damaged by fire or other casualty that substantial alteration or reconstruction of the Building shall, in their entiretyLandlord's sole opinion, be required (whether or not the Premises shall have been damaged by such fire or other casualty), then either party in any such event Landlord may, at its option and upon written option, terminate this Lease, by giving Tenant 30 days' notice to the other partyof such termination, cancel this Lease effective as of within 120 days after the date of such fire or other casualty. In the damage or destruction. If neither party elects to terminate event that such notice of termination shall be given, this Lease shall terminate as provided in this Section 7.6, then Landlord shall restore the Premises to the conditions existing immediately prior to such damage or destruction to the extent insurance proceeds are actually received by Landlord. For purposes of this Section 7.6, “materiality” shall be deemed to be damage to at least 40% of the floor area located within the Premises. If the Premises are not materially damaged, then Landlord agrees to rebuild or repair the Premises to the extent insurance proceeds are actually received by Landlord; provided, however, that if material damage to the Premises occurs during any renewal term, Landlord shall have no obligation to rebuild or repair the Premises if such as determined by Landlord is not commercially practicable during the Term remaining as extended, and both parties shall be released from any further liability under this Lease; provided, further, that Landlord shall have no obligation to repair any material damage unless Tenant waives its right to terminate this Lease in accordance with Section 4.11 above and Tenant renews the lease for any remaining Renewal Terms. Tenant shall remain responsible for the Base Rent for the undamaged portion of the Premises which Tenant is reasonably able to use, if any, in an amount that is determined by multiplying Base Rent by the fraction that is derived by dividing the total undamaged floor area Tenant occupies by the total floor area of the Premises.of

Damage to or Destruction of the Premises. In the event Section 14.01 If the Premises are materially or any part thereof shall be damaged in part or destroyed in their entiretyrendered untenantable by fire or other insured casualty and Tenant gives prompt notice thereof to Landlord and this Lease is not terminated pursuant to any provisions of this Article, then either party mayLandlord shall proceed, with reasonable diligence after the collection of the insurance proceeds attributable to such damage, to repair or cause to be repaired such damage to the Basic Construction of the Premises and Landlord's Work. All other repairs required by reason of such casualty shall be performed by Tenant, at its option sole cost and upon written expense, promptly and with due diligence after the collection of its insurance proceeds. Except as provided in Sections 8.08 and 14.07, and so long as Tenant is not in default under this Lease beyond applicable notice and cure periods provided herein for the cure thereof, Fixed Rent, Additional Rent and Tenant's Proportionate Share shall be equitably abated to the other partyextent that the Premises shall have been rendered Untenantable, cancel this Lease effective as of such abatement to be from the date of such damage to the damage earlier of (x) the date Tenant shall first re-open for business or destruction. If neither party elects (y) the ninetieth (90th) day immediately following the date the repairs to terminate this Lease as provided in this Section 7.6, then Landlord shall restore the Basic Construction of the Premises to and the conditions existing immediately prior to such damage or destruction to the extent insurance proceeds are actually received by Landlord. For purposes of this Section 7.6, “materiality” 's Work shall be deemed to be damage to at least 40% of the floor area located within the Premises. If the Premises are not materially damaged, then Landlord agrees to rebuild or repair the Premises to the extent insurance proceeds are actually received by Landlordhave been substantially completed; provided, however, that if material damage to the Premises occurs during any renewal term, Landlord shall have no obligation to rebuild or repair the Premises if such as determined by Landlord is not commercially practicable during the Term remaining as extended, and both parties shall be released from any further liability under this Lease; provided, further, that Landlord shall have no obligation to repair any material damage unless should Tenant waives its right to terminate this Lease in accordance with Section 4.11 above and Tenant renews the lease for any remaining Renewal Terms. Tenant shall remain responsible for the Base Rent for the undamaged reoccupy a portion of the Premises for the operation of its business during the period the repair work is taking place and prior to the date such damage is substantially repaired, then the Fixed Rent allocable to such reoccupied portion, based upon the proportion which Tenant is reasonably able the reoccupied portion of the Premises bears to use, if any, in an amount that is determined by multiplying Base Rent by the fraction that is derived by dividing the total undamaged floor area Tenant occupies by the total floor area of the Premises, shall be payable by Tenant from the date of such occupancy. The term "substantially repaired" as used herein shall mean repaired except for minor details or so-called "punch-list items", the non-performance of which shall not preclude Tenant from reoccupying the affected portion or all of the Premises, as the case may be, and conducting its business therein.

Damage to or Destruction of the Premises. In the event SECTION 15.01 If the Premises are materially or any part thereof shall be damaged in part or destroyed in their entiretyrendered Untenantable by fire or extended coverage peril and Tenant gives prompt notice thereof to Landlord and this Lease is not terminated pursuant to any provision of this Article, then either party mayLandlord shall proceed, with reasonable diligence after the collection of the insurance proceeds attributable to such damage, to repair or cause to be repaired such damage to the Basic Construction of the Building and Landlord's Work. All other repairs required by reason of such casualty shall be performed by Tenant, at its option sole cost and upon written notice expense, promptly and with due diligence. Except as provided in Section 15.07, the rent shall be equitably abated to the other partyextent that the Premises shall have been rendered Untenantable, cancel this Lease effective as of such abatement to be from the date of such damage to the damage or destruction. If neither party elects to terminate this Lease as provided in this Section 7.6, then Landlord shall restore date the Premises to the conditions existing immediately prior to such damage or destruction to the extent insurance proceeds are actually received by Landlord. For purposes of this Section 7.6, “materiality” shall no longer be deemed to be damage to at least 40% of the floor area located within the Premises. If the Premises are not materially damaged, then Landlord agrees to rebuild or repair the Premises to the extent insurance proceeds are actually received by LandlordUntenantable; provided, however, should Tenant reoccupy a portion of the Premises during the period the repair work is taking place and prior to the date the Premises are no longer Untenantable, the rent allocable to such reoccupied portion based upon the proportion which the reoccupied portion of the Premises bears to the total area of the Premises, shall be payable by Tenant from the date of such occupancy. SECTION 15.02 If the Premises shall be totally damaged or rendered wholly Untenantable by fire or other casualty, and Landlord has not terminated this Lease pursuant to Section 15.03 and Landlord has not*/ completed *See Section 46.12 the making of the required repairs to the Premises and access thereto within 6 months from the date of such damage or destruction and such additional time after such date (but in no event to exceed 6 months), as shall equal the aggregate period Landlord may have been delayed in doing so by Force Majeure or adjustment of insurance, Tenant, within 30 days after the date on which Landlord is required to complete the repairs pursuant to this Section, may serve notice on Landlord of its intention to terminate this Lease, and if 30 days thereafter Landlord shall not have completed the making of the required repairs, this Lease shall terminate on the expiration of such 30 days period as if such termination date were the Expiration Date without prejudice, however, to Landlord's rights and remedies against Tenant under the terms of this Lease. SECTION 15.03 If the Premises shall be totally damaged or rendered wholly Untenantable by fire or other casualty or if the Building shall be so damaged by fire or other substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (whether or not the Premises shall have been damaged by such fire or other casualty), then in any such event Landlord may, at its option, terminate this Lease, by giving Tenant 30 days' notice of such termination, within 90 days after the date of such fire or other casualty. In the event that such notice of termination shall be given, this Lease shall terminate as of the date provided in such notice of termination (whether or not the Term shall have commenced) with the same effect as if material that date were the Expiration Date without prejudice, however, to Landlord's rights and remedies against Tenant under the terms of this Lease. If, at any time prior to Landlord giving Tenant the aforesaid notice of termination or commencing the repair pursuant to Section 15.01, there shall be a Successor Landlord, such Successor Landlord shall have a further period of 60 days from the date of so taking possession to terminate this Lease by 30 days' notice to Tenant and in the event that such a notice of termination shall be given, this Lease shall termination as of the date provided in such 30 day notice of termination (whether or not the Term shall have commenced) with the same effect as if that date were the Expiration Date without prejudice, however, to Landlord's (or Successor Landlord's) rights against Tenant under the terms of this Lease. SECTION 15.04 Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from any such damage by fire or other casualty or the repair thereof Landlord will not carry insurance of any kind on Tenant's Property or any Improvements made Tenant's sole cost and expense, and Landlord shall not be obligated to repair any damage thereto or replace the same. SECTION 15.05 Except as expressly provided in Section 8.06, nothing herein contained shall relieve Tenant from any liability to Landlord or to its insurers in connection with any damage to the Premises occurs during or the Building by fire or other casualty if Tenant shall be legally liable in such respect. SECTION 15.06 This Article shall be considered an express agreement governing any renewal termcase of damage to or destruction of the Building or any part thereof by fire or other casualty, Landlord and Section 227 of the Real Property Laws of the Sate of New York providing for such a contingency in the absence of such express agreement, and any other law of like import now or hereafter enacted, shall have no obligation to rebuild application in such case. SECTION 15.07 Notwithstanding any of the foregoing provisions of this Article, if, by reason of some action or repair inaction on the Premises if such as determined by part of Tenant or any of its employees, agents, licensees or contractors, either (a) Landlord is not commercially practicable during or the Term remaining as extendedSuperior Lessor, and both parties the Superior Mortgagee or the Fee Mortgagee shall be released from any further liability under this Lease; provided, further, that Landlord shall have no obligation unable to repair any material collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage unless Tenant waives its right to terminate this Lease in accordance with Section 4.11 above and Tenant renews the lease for any remaining Renewal Terms. Tenant shall remain responsible for the Base Rent for the undamaged portion or destruction of the Premises or the Building by fire or other casualty or (b) the Premises or the Building shall be damaged or destroyed or rendered complete or partially Untenantable on account of fire or other casualty then, without prejudice to any other remedy which Tenant is reasonably able may be available against Tenant, the abatement of rent provided for in this Article shall not be effective to use, if any, in an amount that is determined by multiplying Base Rent by the fraction that is derived by dividing the total undamaged floor area Tenant occupies by the total floor area extent of the Premisesuncollected insurance proceeds.