Damage - Uninsured. In the event that the Premises are damaged or destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to Article 11(a) above, the Landlord shall restore the same; provided that if the damage or destruction is to any extent greater than ten percent (10%) of the then replacement cost of the improvements on the Premises (exclusive of Tenant’s trade fixtures and equipment and exclusive of foundations and footings), then Landlord may elect not to restore and to terminate this Lease. Landlord must give to Tenant written notice of its intention not to restore within thirty (30) days from the date of such damage or destruction and, if not given, Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably possible. In the event that Landlord elects to give such notice of Landlord’s intention to cancel and terminate this Lease Tenant shall have the right, within ten (10) days after receipt of such notice, to give written notice to Landlord of Tenant’s intention to repair such damage at Tenant’s expense, without reimbursement from Landlord, in which event the Lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If Tenant does not give such notice within such 10 day period, this Lease shall be canceled and be deemed terminated as the date of the occurrence of such damage or destruction.
Appears in 2 contracts
Samples: Credit Agreement (Herbst Gaming Inc), Credit Agreement (Herbst Gaming Inc)
Damage - Uninsured. In the event that the Premises are damaged or destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to the party designated in Article 11(a) above, the then Landlord shall restore the same; provided that if the damage or destruction is to any an extent greater than ten percent (10%) percent of the then replacement cost of the improvements on the Premises (exclusive of Tenant’s 's trade fixtures and equipment and exclusive of foundations and footings), then Landlord may elect not to restore and to terminate this Lease. Landlord must give to Tenant written notice of its intention not to restore within thirty (30) days from the date of such damage or destruction and, if not given, Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably possible. In the event that Landlord elects to give such notice of Landlord’s 's intention to cancel and terminate this Lease lease, Tenant shall have the right, within ten (10) days after receipt of such notice, to give written notice to Landlord of Tenant’s 's intention to repair such damage at Tenant’s 's expense, without reimbursement from Landlord, in which event the Lease lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If the Tenant does not give such notice within such 10 day period, this Lease shall be canceled cancelled and be deemed terminated as of the date of the occurrence of such damage or destruction.
Appears in 2 contracts
Samples: Commercial Lease (Easyriders Inc), Commercial Lease (Easyriders Inc)
Damage - Uninsured. In the event that (a) If the Premises are damaged or destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to Article 11(a) above18, the then Landlord shall restore the same; provided , at Landlord's sole expense, on the contingency that if the damage damaged or destruction is to any an extent greater than ten percent (10%) percent of the then replacement cost of the improvements on the Premises property on which the premises are located (exclusive of Tenant’s 's trade fixtures and equipment and exclusive of foundations foundation and footingsfooting), then Landlord may elect not to restore and to terminate this Lease. .
(b) Landlord must give to shall provide Tenant with written notice of its intention not to restore and terminate this Lease within thirty (30) days from the date of such damage or destruction and, if not given, Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably possible. In the event that .
(c) If Landlord elects to give such notice of Landlord’s intention to cancel and terminate this Lease Lease, Tenant shall have the right, within ten (10) days after receipt of such notice, to give written notice to Landlord of Tenant’s intention 's intent to repair such damage at Tenant’s 's expense, without reimbursement from Landlord, in which event the . The Lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If Tenant does not give such said notice within such 10 ten (10) day period, this Lease shall be canceled cancelled and be deemed terminated as of the date of the occurrence of such damage or destruction.
Appears in 1 contract
Samples: Standard Commercial Lease (American Oilfield Divers Inc)
Damage - Uninsured. In the event that the Premises are damaged or destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to the party designated in Article 11(a) above, the then Landlord shall restore the same; provided that if the damage or destruction is to any an extent greater than ten percent (10%) percent of the then replacement cost of the 9 improvements on the Premises (exclusive of Tenant’s 's trade fixtures and equipment and exclusive of foundations and footings), then Landlord may elect not to restore and to terminate this Lease. Landlord must give to Tenant written notice of its intention not to restore within thirty (30) days from the date of such damage or destruction and, if not given, Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably possible. In the event that Landlord elects to give such notice of Landlord’s 's intention to cancel and terminate this Lease lease, Tenant shall have the right, within ten (10) days after receipt of such notice, to give written notice to Landlord of Tenant’s 's intention to repair such damage at Tenant’s 's expense, without reimbursement from Landlord, in which event the Lease lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If the Tenant does not give such notice within such 10 day period, this Lease shall be canceled cancelled and be deemed terminated as of the date of the occurrence of such damage or destruction.
Appears in 1 contract
Samples: Commercial Lease (Easyriders Inc)
Damage - Uninsured. In the event that the Premises are damaged or destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to the party designated in Article 11(a) above, the then Landlord shall restore the same; provided that if the damage or destruction is to any an extent greater than ten percent (10%) percent of the then replacement cost of the improvements on the Premises (exclusive of Tenant’s trade fixtures and equipment and exclusive of foundations and footings), then Landlord may elect not to restore and to terminate this Lease. Landlord must give to Tenant written notice of its intention not to restore within thirty (30) days from the date of such damage or destruction and, if not given, Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably possible. In the event that Landlord elects to give such notice of Landlord’s intention to cancel and terminate this Lease Lease, Tenant shall have the right, within ten (10) days after receipt of such notice, to give written notice to Landlord of Tenant’s intention to repair such damage at Tenant’s expense, without reimbursement from Landlord, in which event the Lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If the Tenant does not give such notice within such 10 day period, this Lease shall be canceled cancelled and be deemed terminated as of the date of the occurrence of such damage or destruction.
Appears in 1 contract
Damage - Uninsured. In the event that the Premises are may be damaged or ------------------ destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to Article 11(a) aboveLandlord, the Landlord shall restore the same; , provided that if the damage or destruction is to any an extent greater than ten FIFTEEN percent (10%) ------- (15%) of the then replacement cost of the improvements on the Premises (exclusive of ----- Tenant’s 's trade fixtures and equipment and exclusive of foundations and footings), foundations) then Landlord may elect not to restore and to terminate this Lease. Landlord must give to Tenant written notice of its intention election not to restore within thirty (30) days from the date Landlord received notice of such damage or destruction and, if not given, Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably possible. In the event that Landlord elects to give such notice of Landlord’s 's intention to cancel and terminate this Lease Lease, Tenant shall have the right, right within ten (10) days after receipt of such notice, notice to give written notice to Landlord of Tenant’s 's intention to repair such damage at Tenant’s 's expense, without reimbursement from Landlord, in which event the this Lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If Tenant does not give such notice within such 10 ten (10) day period, this Lease shall be canceled and be deemed terminated as of the date of the occurrence of such damage or destructiondamage.
Appears in 1 contract
Damage - Uninsured. In the event that the Premises are damaged or destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to the party designated in Article 11(a) 13 above, the then Landlord shall restore the same; provided that if the damage or destruction is to any an extent greater than ten percent (10%) percent of the then replacement cost of the improvements on the Premises (exclusive of Tenant’s 's trade fixtures and equipment and exclusive of foundations and footings), then Landlord may elect not to restore and to terminate this Lease. Landlord must give to Tenant written notice of its intention not to restore within thirty (30) days from the date of such damage or destruction and, if not given, Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably reasonable possible. In the event that Landlord elects to give such notice of Landlord’s Landlords., intention to cancel and terminate this Lease Lease, Tenant shall have the right, within ten (10) days after receipt of such notice, to give written notice to Landlord of Tenant’s 's intention to repair such damage at Tenant’s 's expense, without reimbursement from Landlord, in which event the Lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably reasonable possible. If the Tenant does not give such notice within such 10 day period, this Lease shall be canceled and be deemed terminated as of the date of the occurrence of such damage or destruction.
Appears in 1 contract
Samples: Lease Agreement
Damage - Uninsured. In the event that the Premises are damaged or destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to Article 11(a) above, the Landlord shall restore the same; provided that if the damage or destruction is to any extent greater than ten percent (10%) of the then replacement cost of the improvements on the Premises (exclusive of Tenant’s 's trade fixtures and equipment and exclusive of foundations and footings), then Landlord may elect not to restore and to terminate this Lease. Landlord must give to Tenant written notice of its intention not to restore within thirty (30) days from the date of such damage or destruction and, if not given, Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably possible. In the event that Landlord elects to give such notice of Landlord’s 's intention to cancel and terminate this Lease Tenant shall have the right, within ten (10) days after receipt of such notice, to give written notice to Landlord of Tenant’s 's intention to repair such damage at Tenant’s 's expense, without reimbursement from Landlord, in which event the Lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If Tenant does not give such notice within such 10 day period, this Lease shall be canceled and be deemed terminated as the date of the occurrence of such damage or destruction.
Appears in 1 contract
Samples: Lease (Herbst Gaming Inc)
Damage - Uninsured. In the event that the Premises are damaged or destroyed by a casualty which is not covered by the fire and extended coverage insurance which is required to be carried by Tenant pursuant to the party designated in Article 11(a11 (a) above, the Landlord then landlord shall restore the same; provided that if the damage or destruction is to any an extent greater than ten percent (10%) percent of the then replacement cost of the improvements on the Premises (exclusive of Tenant’s 's trade fixtures and equipment and exclusive of to foundations and footings), then Landlord may elect not to restore and to terminate this Lease. Landlord must give to Tenant written notice of its intention not to restore within thirty (30) days from the date of such damage or destruction and, if not given, given Landlord shall be deemed to have elected to restore and in such event shall repair any damage as soon as reasonably possible. In the event that Landlord elects to give such notice of Landlord’s 's intention to cancel and terminate this Lease Lease, Tenant shall have the right, within ten (10) days after receipt of such notice, to give written notice to Landlord of Tenant’s 's intention to repair such damage at Tenant’s 's expense, without reimbursement from Landlord, in which event the Lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If the Tenant does not give such notice within such 10 day period, this Lease shall be canceled cancelled and be deemed terminated as of the date of the occurrence of such damage or destruction.
Appears in 1 contract
Samples: Lease Agreement (Nara Bancorp Inc)