Common use of Damages or Destruction Clause in Contracts

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. (b) If following such damage or destruction the estimate of the time to complete such repair or restoration, as determined by the general contractor selected by Lessor, exceeds 240 days, Lessor and Lessee at their respective options shall have the right to terminate the Lease upon written notice to the other Party given within 20 days after receipt of the estimated time to repair or restore. (c) The net proceeds of any insurance shall be applied in payment of the cost of such repairing or rebuilding as the same progresses. If the insurance proceeds exceed the cost of such repairs or rebuilding, then the balance remaining after payment of the cost of such repairs or rebuilding shall be paid over and belong to Lessor. (d) Except as specifically provided in subsections (b), (e) or (f), this Lease shall not terminate or be affected in any manner by reason of the destruction or damage in whole or in part of the Premises or any building or improvement now or hereafter standing or erected thereon or by reason of the untenantability of the Premises or any such building or improvements. Rent shall in any case continue to be paid by Lessee. Lessee shall have the option of providing rent protection insurance for the benefit of Lessor with regard to damage or destruction of the Premises and any insurance benefits resulting therefrom shall be applied against any rent accruing to Lessor. (e) If the fire or casualty damages or destroys more than 25% of the improvements on the Premises and occurs within the last 12 months of the Lease Term, then Lessee, at its option, may elect to terminate the Lease by giving written notice thereof to Lessor within 15 days after such fire or casualty. If Lessee timely gives such notice then the Lease shall terminate as of the date of such fire or casualty; Lessee shall not be liable for any rent accruing after the date of such fire or casualty; Lessor shall not be required to rebuild or restore the Premises; and all casualty insurance proceeds shall be the sole property of Lessor. (f) If the insurance proceeds available for a fire or casualty are not sufficient to rebuild and restore the Premises, and if Lessor is not willing to provide the additional funds necessary then Lessor at its option may, within 60 days after the settlement has been made with the insurance companies, elect to terminate this Lease by giving written notice thereof to Lessee. In such event all insurance proceeds shall be paid to Lessor and the Lease shall terminate effective as of the date of such casualty loss.

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. (b) If following such damage or destruction the estimate of the time to complete such repair or restoration, as determined by the general contractor selected by Lessor, exceeds 240 days, Lessor and Lessee at their respective options shall have the right to terminate the Lease upon written notice to the other Party Partly given within 20 days after receipt of the estimated time to repair or restore. (c) The net proceeds of any insurance shall be applied in payment of the cost of such repairing or rebuilding as the same progresses. If the insurance proceeds exceed the cost of such repairs or rebuilding, then the balance remaining after payment of the cost of such repairs or rebuilding shall be paid over and belong to Lessor. (d) Except as specifically provided in subsections (b), (e) or (f), this Lease shall not terminate or be affected in any manner by reason of the destruction or damage in whole or in part of the Premises or any building or improvement now or hereafter standing or erected thereon or by reason of the untenantability of the Premises or any such building or improvements. Rent shall in any case continue to be paid by Lessee. Lessee shall have the option of providing rent protection insurance for the benefit of Lessor with regard to damage or destruction of the Premises and any insurance benefits resulting therefrom shall be applied against any rent accruing to Lessor. (e) If the fire or casualty damages or destroys more than 25% of the improvements on the Premises and occurs within the last 12 months of the Lease Term, then Lessee, at its option, may elect to terminate the Lease by giving written notice thereof to Lessor within 15 days after such fire or casualty. If Lessee timely gives such notice then the Lease shall terminate as of the date of such fire or casualty; Lessee shall not be liable for any rent accruing after the date of such fire or casualty; Lessor shall not be required to rebuild or restore the Premises; and all casualty insurance proceeds shall be the sole property of Lessor. (f) If the insurance proceeds available for a fire or casualty are not sufficient to rebuild and restore the Premises, and if Lessor is not willing to provide the additional funds necessary then Lessor at its option may, within 60 days after the settlement has been made with the insurance companies, elect to terminate this Lease by giving written notice thereof to Lessee. In such event all insurance proceeds shall be paid to Lessor and the Lease shall terminate effective as of the date of such casualty loss.

Damages or Destruction. (a) If any building or improvement upon the Premises is destroyed or the Building shall be damaged in whole or in part by fire, fire or other casualty, Lessee shall give notice thereof 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 except, all the expense of Lessor to 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 near condition as it or they were in which existed immediately prior to such occurrence. Such work shall be commenced within 60 days after the settlement has been made with the insurance companies. (b) If following such damage or destruction the estimate as reasonably possible; provided, however, that if as a result of damage by fire or other casualty more than fifty percent (50%) of the time to complete net rental area of the Building is rendered untenantable, then and in such repair event either Lessor or restoration, as determined by the general contractor selected by Lessor, exceeds 240 days, Lessor and Lessee at their respective options shall have the right to terminate the Lease upon and option (exercised, if at all, by giving written notice to the other Party given party within 20 thirty (30) days after receipt of the estimated time to repair or restore. (c) The net proceeds of any insurance shall be applied in payment of the cost of such repairing destruction or rebuilding as the same progresses. If the insurance proceeds exceed the cost of such repairs or rebuilding, then the balance remaining after payment of the cost of such repairs or rebuilding shall be paid over and belong casualty) to Lessor. (d) Except as specifically provided in subsections (b), (e) or (f), terminate this Lease shall not terminate or be affected in any manner by reason of the destruction or damage in whole or in part of the Premises or any building or improvement now or hereafter standing or erected thereon or by reason of the untenantability of the Premises or any such building or improvements. Rent shall in any case continue to be paid by Lessee. Lessee shall have the option of providing rent protection insurance for the benefit of Lessor with regard to damage or destruction of the Premises and any insurance benefits resulting therefrom shall be applied against any rent accruing to Lessor. (e) If the fire or casualty damages or destroys more than 25% of the improvements on the Premises and occurs within the last 12 months of the Lease Term, then Lessee, at its option, may elect to terminate the Lease by giving written notice thereof to Lessor within 15 days after such fire or casualty. If Lessee timely gives such notice then the Lease shall terminate as of the date of such fire 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 casualty; restoration within such period or shall fail to prosecute such repair and restoration in a timely manner, then Lessee shall not be liable for any rent accruing after have the date of such fire or casualty; Lessor shall not be required to rebuild or restore the Premises; right and all casualty insurance proceeds shall be the sole property of Lessor. option (f) If the insurance proceeds available for a fire or casualty are not sufficient to rebuild and restore the Premisesexercised, and if Lessor is not willing to provide the additional funds necessary then Lessor at its option mayall, within 60 days after the settlement has been made with the insurance companies, elect to terminate this Lease by giving written notice thereof within fifteen within fifteen (15) days of such failure) to Lesseeterminate this Lease. In such the event all insurance proceeds 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 and as the Lease 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 terminate effective as xxxxx proportionately to the area rendered untenantable for the period of time during which the date of such casualty losscondition exists.

Damages or Destruction. (a) If any building or improvement upon the Premises Facility is destroyed or damaged in whole or in part by fire, or other casualty, Lessee shall give notice thereof to Lessor, and except, except as otherwise provided below, Lessor at Lessor’s cost and expense promptly shall repair, replace, and rebuild the buildings or improvements Improvements (other than Lessee owned 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 sixty (60) days after the settlement has been made with the insurance companies. (b) If following such damage or destruction the estimate of the time to complete such repair or restoration, as reasonably determined by the general contractor selected by Lessor, exceeds 240 two hundred forty (240) days, Lessor and Lessee at their respective options shall have the right to terminate the Lease upon written notice to the other Party given within 20 twenty (20) days after receipt of the estimated time to repair or restore. If the actual time to complete such repair or restoration exceeds two hundred seventy (270) days, Lessee at its option shall have the right to terminate the Lease upon written notice to Lessor given within twenty (20) days after the expiration of such two hundred seventy (270) day period. (c) If the fire or casualty damages or destroys more than fifty percent (50%) of the Facility, then Lessee or Lessor, at its respective option, may elect to terminate the Lease by giving written notice thereof to the other party within fifteen (15) days after such fire or casualty. If timely notice is given by either party, then the Lease shall terminate as of the date of such fire or casualty; Lessee shall not be liable for any rent accruing after the date of such fire or casualty; Lessor shall not be required to rebuild or restore the Facility; and all casualty insurance proceeds *** CONFIDENTIAL MATERIAL REDACTED AND SEPARATELY FILED WITH THE COMMISSION ***. CONFIDENTIAL TREATMENT REQUESTED BY DIVERSEY, INC. – CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE COMMISSION. (other than casualty insurance proceeds applicable to Lessee’s Improvements and personal property), which shall be the sole property of Lessee) shall be the sole property of Lessor. (d) The net proceeds of any insurance shall be applied in payment of the cost of such repairing or rebuilding as the same progresses. If the insurance proceeds exceed the cost of such repairs or rebuilding, then the balance remaining after payment of the cost of such repairs or rebuilding shall be paid over and belong to Lessor. (de) Except as specifically provided in subsections (b), (ec), (f) or (fg), this Lease shall not terminate or be affected in any manner by reason of the destruction or damage in whole or in part of the Facility, the Premises or any building or improvement now or hereafter standing or erected thereon or by reason of the untenantability of the Facility or the Premises or any such building or improvements. Rent If the Facility is substantially (i.e., more than fifty percent (50%)) or wholly damaged, Lessee’s liability for rent and additional rent shall in any case continue to be paid by Lessee. Lessee shall have abated from the option of providing rent protection insurance for the benefit of Lessor with regard to damage or destruction period of the Premises and any insurance benefits resulting therefrom date of the fire or other casualty through the date that is five (5) days after Lessee receives written notice from Lessor that the Facility is substantially ready for Lessee’s occupancy. If the Facility is partially damaged, unusable or inaccessible, then until such necessary repairs shall be applied against any made the rent accruing and additional rent shall be reduced in the proportion which the area of the part of the Facility which is not usable by Lessee bears to Lessorthe total area of the Facility. (ef) If the fire or casualty damages or destroys more than twenty-five percent (25% %) of the improvements on the Premises Facility and occurs within the last 12 twelve (12) months of the Lease Term, then Lessee, at its option, may elect to terminate the Lease by giving written notice thereof to Lessor within 15 fifteen (15) days after such fire or casualty. If Lessee timely gives such notice then the Lease shall terminate as of the date of such fire or casualty; Lessee shall not be liable for any rent accruing after the date of such fire or casualty; Lessor shall not be required to rebuild or restore the PremisesFacility; and all casualty insurance proceeds (other than casualty insurance proceeds applicable to Lessee’s Improvements and personal property), which shall be the sole property of Lessee) shall be the sole property of Lessor. (fg) If the insurance proceeds available for a fire or casualty are not sufficient to rebuild and restore the PremisesFacility, and if Lessor is not willing to provide the additional funds necessary then Lessor or Lessee at its respective option may, within 60 sixty (60) days after the settlement has been made with the insurance companies, elect to terminate this Lease by giving written notice thereof to Lesseethe other party hereto. In such event all insurance proceeds shall be paid to Lessor and the Lease shall terminate effective as of the date of such casualty loss.

Damages or Destruction. (a) If In the event of damage to, or destruction of, any building or improvement upon improvements on the Premises is destroyed or damaged in whole or in part Premises, by fire, 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 Landlord shall repair, replacerestore 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 rebuild in Landlord's reasonable judgment, the buildings Premises cannot be repaired, restored or improvements to at least as good condition as it or they were in immediately prior to such occurrence. Such work shall be commenced rebuilt within 60 180 days after the settlement has been made with the insurance companies. (b) If following such damage or destruction the estimate date of the time to complete such repair casualty, Tenant or restoration, as determined by the general contractor selected by Lessor, exceeds 240 days, Lessor and Lessee at their respective options Landlord shall have the right to terminate this Lease, effective on the Lease upon written notice to the other Party given within 20 days after receipt of the estimated time to repair or restore. (c) The net proceeds of any insurance shall be applied in payment of the cost date of such repairing or rebuilding as the same progresses. If the insurance proceeds exceed the cost of such repairs or rebuilding, then the balance remaining after payment of the cost of such repairs or rebuilding shall be paid over and belong to Lessor. (d) Except as specifically provided in subsections (b), (e) or (f), this Lease shall not terminate or be affected in any manner by reason of the destruction or damage in whole or in part of the Premises or any building or improvement now or hereafter standing or erected thereon or by reason of the untenantability of the Premises or any such building or improvements. Rent shall in any case continue to be paid by Lessee. Lessee shall have the option of providing rent protection insurance for the benefit of Lessor with regard to damage or destruction of the Premises and any insurance benefits resulting therefrom shall be applied against any rent accruing to Lessor. (e) If the fire or casualty damages or destroys more than 25% of the improvements on the Premises and occurs within the last 12 months of the Lease Termdestruction, then Lessee, at its option, may elect to terminate the Lease by giving written notice thereof to Lessor the other party within 15 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. (b) Tenant or Landlord shall immediately upon receipt thereof deposit all insurance proceeds received with respect to such loss into a construction escrow account under the terms of a construction escrow mutually acceptable to Landlord and Tenant (the "CONSTRUCTION ESCROW"). Landlord may withdraw such funds from the Construction Escrow as needed to pay for the repair or rebuilding of the Premises. If Landlord shall not commence the repair or rebuilding of the improvements within a period of sixty (60) days after damage or destruction by fire or casualty. If Lessee timely gives otherwise, and prosecute the same thereafter with such notice then dispatch as may be necessary to complete the Lease shall terminate as of the date of such fire same within a reasonable period after said damage or casualty; Lessee shall destruction occurs, not be liable for any rent accruing to exceed one hundred twenty (120) days after the date of commencement of such fire repair or casualty; Lessor rebuilding, then, in addition to whatever other remedies Tenant may have either under this Lease, at law or in equity, Tenant may (i) but shall not be required obligated to, perform such repairs at Landlord's expense and may use the funds then remaining in the Construction Escrow to rebuild complete such restoration, or restore the Premises; and all casualty insurance proceeds shall be the sole property of Lessor. (fii) If the insurance proceeds available for a fire or casualty are not sufficient to rebuild and restore the Premises, and if Lessor is not willing to provide the additional funds necessary then Lessor at its option may, within 60 days after the settlement has been made with the insurance companies, elect to terminate this Lease by giving written notice thereof to Lessee. In such event all insurance proceeds shall be paid to Lessor and the Lease shall terminate effective as of the date of such casualty lossLease.

Damages or Destruction. (a) If any building or improvement upon the Premises Facility is destroyed or damaged in whole or in part by fire, or other casualty, Lessee shall give notice thereof to Lessor, and except, except as otherwise provided below, Lessor at Lessor’s cost and expense promptly shall repair, replace, and rebuild the buildings or improvements Improvements (other than Lessee owned 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 sixty (60) days after the settlement has been made with the insurance companies. (b) If following such damage or destruction the estimate of the time to complete such repair or restoration, as reasonably determined by the general contractor selected by Lessor, exceeds 240 two hundred forty (240) days, Lessor and Lessee at their respective options shall have the right to terminate the Lease upon written notice to the other Party given within 20 twenty (20) days after receipt of the estimated time to repair or restore. If the actual time to complete such repair or restoration exceeds two hundred seventy (270) days, Lessee at its option shall have the right to terminate the Lease upon written notice to Lessor given within twenty (20) days after the expiration of such two hundred seventy (270) day period. (c) If the fire or casualty damages or destroys more than fifty percent (50%) of the Facility, then Lessee or Lessor, at its respective option, may elect to terminate the Lease by giving written notice thereof to the other party within fifteen (15) days after such fire or casualty. If timely notice is given by either party, then the Lease shall terminate as of the date of such fire or casualty; Lessee shall not be liable for any rent accruing after the date of such fire or casualty; Lessor shall not be required to rebuild or restore the Facility; and all casualty insurance proceeds (other than casualty insurance proceeds applicable to Lessee’s Improvements and personal property), which shall be the sole property of Lessee) shall be the sole property of Lessor. (d) The net proceeds of any insurance shall be applied in payment of the cost of such repairing or rebuilding as the same progresses. If the insurance proceeds exceed the cost of such repairs or rebuilding, then the balance remaining after payment of the cost of such repairs or rebuilding shall be paid over and belong to Lessor. (de) Except as specifically provided in subsections (b), (ec), (f) or (fg), this Lease shall not terminate or be affected in any manner by reason of the destruction or damage in whole or in part of the Facility, the Premises or any building or improvement now or hereafter standing or erected thereon or by reason of the untenantability of the Facility or the Premises or any such building or improvements. Rent If the Facility is substantially (i.e., more than fifty percent (50%)) or wholly damaged, Lessee’s liability for rent and additional rent shall in any case continue to be paid by Lessee. Lessee shall have abated from the option of providing rent protection insurance for the benefit of Lessor with regard to damage or destruction period of the Premises and any insurance benefits resulting therefrom date of the fire or other casualty through the date that is five (5) days after Lessee receives written notice from Lessor that the Facility is substantially ready for Lessee’s occupancy. If the Facility is partially damaged, unusable or inaccessible, then until such necessary repairs shall be applied against any made the rent accruing and additional rent shall be reduced in the proportion which the area of the part of the Facility which is not usable by Lessee bears to Lessorthe total area of the Facility. (ef) If the fire or casualty damages or destroys more than twenty-five percent (25% %) of the improvements on the Premises Facility and occurs within the last 12 twelve (12) months of the Lease Term, then Lessee, at its option, may elect to terminate the Lease by giving written notice thereof to Lessor within 15 fifteen (15) days after such fire or casualty. If Lessee timely gives such notice then the Lease shall terminate as of the date of such fire or casualty; Lessee shall not be liable for any rent accruing after the date of such fire or casualty; Lessor shall not be required to rebuild or restore the PremisesFacility; and all casualty insurance proceeds (other than casualty insurance proceeds applicable to Lessee’s Improvements and personal property), which shall be the sole property of Lessee) shall be the sole property of Lessor. (fg) If the insurance proceeds available for a fire or casualty are not sufficient to rebuild and restore the PremisesFacility, and if Lessor is not willing to provide the additional funds necessary then Lessor or Lessee at its respective option may, within 60 sixty (60) days after the settlement has been made with the insurance companies, elect to terminate this Lease by giving written notice thereof to Lesseethe other party hereto. In such event all insurance proceeds shall be paid to Lessor and the Lease shall terminate effective as of the date of such casualty loss.

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. (b) If following such damage or destruction the estimate of the time to complete such repair or restoration, as determined by the general contractor selected by Lessor, exceeds 240 days, Lessor and Lessee at their respective options shall have the right to terminate the Lease upon written notice to the other Party given within 20 days after receipt of the estimated time to repair or restore. (c) The net proceeds of any insurance shall be applied in payment of the cost of such repairing or rebuilding as the same progresses. If the insurance proceeds exceed the cost of such repairs or rebuilding, then the balance remaining after payment of the cost of such repairs or rebuilding shall be paid over and belong to Lessor. (d) Except as specifically provided in subsections (b), (e) or (f), this Lease shall not terminate or be affected in any manner by reason of the destruction or damage in whole or in part of the Premises or any building or improvement now or hereafter standing or erected thereon or by reason of the untenantability of the Premises or any such building or improvements. Rent shall in any case continue to be paid by Lessee. Lessee shall have the option of providing rent protection insurance for the benefit of Lessor with regard to damage or destruction of the Premises and any insurance benefits resulting therefrom shall be applied against any rent accruing to Lessor. (e) If the fire or casualty damages or destroys more than 25% of the improvements on the Premises and occurs within the last 12 months of the Lease Term, then Lessee, at its option, may elect to terminate the Lease by giving written notice thereof to Lessor within 15 days after such fire or casualty. If Lessee timely gives such notice then the Lease shall terminate as of the date of such fire or casualty; Lessee shall not be liable for any rent accruing accruing, after the date of such fire or casualty; Lessor shall not be required to rebuild or restore the Premises; and all casualty insurance proceeds shall be the sole property of Lessor. (f) If the insurance proceeds available for a fire or casualty are not sufficient to rebuild and restore the Premises, and if Lessor is not willing to provide the additional funds necessary then Lessor at its option may, within 60 days after the settlement has been made with the insurance companies, elect to terminate this Lease by giving written notice thereof to Lessee. In such event all insurance proceeds shall be paid to Lessor and the Lease shall terminate effective as of the date of such casualty loss.