Damages or Destruction. (a) If any building or improvement upon the Premises is destroyed or damaged in whole or in part by fire, or other casualty, Lessee shall give notice thereof to Lessor, and except, as otherwise provided below, Lessor at Lessor’s cost and expense promptly shall repair, replace, and rebuild the buildings or improvements to at least as good condition as it or they were in immediately prior to such occurrence. Such work shall be commenced within 60 days after the settlement has been made with the insurance companies.
Damages or Destruction. If the Premises are damages by any peril and Lessor does not elect to terminate the Lease or is not entitled to terminate the Lease, Lessee may terminate the Lease, by delivery to Lessor of a written notice, if the Premises cannot be or are not fully repaired by Lessor within ninety (90) days after the damage or destruction. If the Lease is not terminated by Lessor or Lessee as provided herein, Lessor shall restore the Premises to the condition in which they existed immediately prior to the casualty.
Damages or Destruction. Subject to the rights of the Lender under the Loan Documents as set forth in Exhibit C, if the Property or any portion thereof shall be damaged or destroyed at any time during the Term by fire, casualty or any other cause, Manager shall, on behalf of and at Owner’s sole cost and expense as an Owner’s Expense, and with due diligence, repair or replace the Property, so that the Property shall be restored to substantially the same condition as existed prior to such damage or destruction; provided, however, that in the event of any substantial damage or destruction to the Property the cost of repair of which would exceed, in Owner’s reasonable judgment, twenty-five percent (25%) of the then existing value of the Property, Owner, within thirty (30) days after the date of occurrence of such damage or destruction may either (i) commence repair of same, in which event this Agreement shall continue in full force and effect; or (ii) deliver written notice to Manager that Owner does not intend to repair such damage or destruction, in which event this Agreement shall be terminated, and upon such termination Manager shall be paid the Termination Fee set forth in Section 16.2 below. All such repair or replacement shall be subject to Owner’s reasonable approval by Owner’s Consent, including the plans, specifications, drawings, architect and contractor therefor, and shall be made in a manner to cause the least practicable interference with the operation of the Property.
Damages or Destruction. Xxxxxxx will promptly notify Macy's of any damage ---------------------- to, or destruction of, the Premises by fire or other casualty. If greater than ten percent (10%) of the Premises is substantially damaged or destroyed by fire or other casualty, then Xxxxxxx shall have the right to terminate this Sublease, in which case this Sublease shall be deemed terminated as of the date of the fire or casualty and Macy's shall reimburse Xxxxxxx for its proportionate share of any prepaid Rent. Macy's shall have no obligation to repair the Premises or the Building.
Damages or Destruction. Subject to subsections 13 B and C below, if the Building or other improvements on the Premises are damaged or destroyed by reason of fire, the elements, unavoidable accident or any other casualty, Tenant will as soon as practicable at its expense, repair or rebuild the Building and all improvements located on the Premises to substantially the same design and condition as the Building and improvements were in prior to such damage or destruction; Tenant will prosecute the repairs or rebuilding to completion with due diligence, subject, however, to strikes, lockouts, acts of God, embargoes, governmental restrictions, and other causes beyond Tenant’s reasonable control; Tenant will obtain and deliver to Landlord a temporary or final certificate of occupancy before the Premises are reoccupied for any purpose. The repairs or rebuilding will be completed free and clear of mechanics’ or other liens, and in accordance with the building codes and all applicable laws, ordinances, regulations, or orders of any state, municipal, or other public authority affecting the repairs or rebuilding, and also in accordance with all applicable covenants, easements and restrictions affecting the Premises and all requirements of the insurance rating organization, or similar body, and of any liability insurance company insuring against liability for accidents related to the Premises.
Damages or Destruction. If the Premises or the Building shall be damaged by fire or other casualty, the damage (exclusive of any improvements or other changes made to the Premises and paid for by Lessee) may, at the option of Lessor, be repaired by and all the expense of Lessor to as near condition which existed immediately prior to such damage or destruction as reasonably possible; provided, however, that if as a result of damage by fire or other casualty more than fifty percent (50%) of the net rental area of the Building is rendered untenantable, then and in such event either Lessor or Lessee shall have the right and option (exercised, if at all, by giving written notice to the other party within thirty (30) days of such destruction or casualty) to terminate this Lease as of the date of such casualty. Subject to the foregoing, the Lessor shall commence such repair within sixty (60) days after such casualty and shall complete the same within a reasonable time thereafter, subject to acts of God, strikes and other occurrence not within the control of Lessor. In the event Lessor fails to commence such repair or restoration within such period or shall fail to prosecute such repair and restoration in a timely manner, then Lessee shall have the right and option (exercised, if at all, by giving written notice within fifteen within fifteen (15) days of such failure) to terminate this Lease. In the event this Lease is terminated for any of the reasons aforesaid, any rents or other payments shall be prorated as of the effective date of such termination and proportionately refunded tot he Lessee or paid to Lessor as the case may be. During any period in time which the Premises or any portion thereof is rendered untenantable by fire or other casualty, the rent shall xxxxx proportionately to the area rendered untenantable for the period of time during which the condition exists.
Damages or Destruction. Subject to the rights of the Lender under the Loan Documents as set forth in Exhibit C, if the Property or any portion thereof shall be damaged or destroyed at any time during the Term by fire, casualty or any other cause, Manager shall, on
Damages or Destruction. 6 13.2 Condemnation................................................ 6 14. INDEMNITY........................................................ 7 14.1 Indemnity by Tenant......................................... 7 14.2 Indemnity by Landlord....................................... 7 15.
Damages or Destruction. (a) In the event of damage to, or destruction of, any improvements on the Premises, by fire or other casualty, Landlord shall repair, restore or rebuild the same to the condition existing prior to the happening of such fire or other casualty; provided, however, that if the damage or destruction is material and substantial, and in Landlord's reasonable judgment, the Premises cannot be repaired, restored or rebuilt within 180 days after the date of the casualty, Tenant or Landlord shall have the right to terminate this Lease, effective on the date of such damage or destruction, by giving written notice thereof to the other party within 30 days after the event causing the damage or destruction. During the period of repair the Rent shall be reduced to an amount which bears the same ratio as the portion of the Premises then available for use bears to the entire Premises.
Damages or Destruction. In the event the Premises are damaged by fire, explosion, or other casualty, Lessor shall commence the repair, restoration, or rebuilding thereof, within ninety (90) days of such damage, after first notifying the Lessee within thirty (30) days of such intent. If the casualty or the repair, restoration, or rebuilding caused thereby shall render the Premises untenantable, in whole or in part, an equitable abatement in rent shall be allowed from the date when the damage occurred until the date when the Premises are again fit for occupancy by Lessee. If such a fire, explosion, or other casualty damages the building in which the Premises are located to the extent of fifty percent (50%) or more thereof, Lessor may, in lieu of repairing, restoring, or rebuilding the same, terminate this Lease within sixty (60) days after occurrence of the event causing the damage. In such event, the obligation of Lessee to pay rent and other charges hereunder, shall end as the date when the occupancy ceased. In the event Lessor's fire and extended coverage insurance provides for a "deductible" and a loss occurs which is the kind of risk otherwise insured under the policy, and such loss is the result of the Lessee's or its agents, employees, or contractors negligence, act or omission, then Lessee shall pay to Lessor, promptly upon being billed therefor the lesser of the (a) the amount of the loss or (b) the amount of the deductible.
