Common use of Deficiency in Insurance Proceeds Clause in Contracts

Deficiency in Insurance Proceeds. If the cost of the repair -------------------------------- or restoration exceeds the amount of proceeds received by Landlord from the insurance required under Article 9 and Tenant is obligated to restore pursuant to Section 10.2.2 hereof, Landlord agrees, subject to this Section 10.2.3, to contribute any excess amounts needed to restore the Facility prior to requiring Tenant to commence such work. Such difference shall be made available by Landlord, together with any insurance proceeds, for application to the cost of repair and restoration in accordance with the provisions of Section 10.2.4. In the event the sum of (a) the insurance proceeds released to Landlord, and (b) that portion of the deductible, if any, which is greater than five percent (5%) of the cost of the repair, is equal to at least ninety-five percent (95%) of the cost of the repair or restoration, Landlord shall fund the deficiency. In the event the sum of (y) the insurance proceeds, and (z) that portion of the deductible, if any, which is greater than five percent (5%) of the cost of the repair, is less than ninety-five percent (95%) of the cost of the repair or restoration, Landlord shall fund such deficiency in its sole discretion; provided, however, that in the event Landlord does not agree to make such deficiency available for restoration, either Landlord or Tenant may terminate this Lease by written notice to the other, whereupon this Lease shall terminate as provided in Section 10.2.1 and Landlord shall pay to Tenant a termination fee equal to Tenant's Operating Profit for the immediately preceding Fiscal Year. If Landlord or Tenant elects to terminate this Lease in accordance with this Section 10.2.3, Landlord shall not be permitted to commence restoration of the Leased Property for a period of one (1) year after the date of the Casualty.

Deficiency in Insurance Proceeds. If the cost of the repair -------------------------------- or restoration exceeds the amount of proceeds received by Landlord from the insurance required under Article 9 and Tenant is obligated to restore pursuant to Section 10.2.2 hereof, Landlord agrees, subject to this Section 10.2.3, to contribute any excess amounts needed to restore the Facility prior to requiring Tenant to commence such work. Such difference shall be made available by Landlord, together with any insurance proceeds, for application to the cost of repair and restoration in accordance with the provisions of Section 10.2.4. In the event the sum of (a) the insurance proceeds released to Landlord, and (b) that portion of the deductible, if any, which is greater than five percent (5%) of the cost of the repair, is equal to at least ninety-five percent (95%) of the cost of the repair or restoration, Landlord shall fund the deficiency. In the event the sum of (y) the insurance proceeds, and (z) that portion of the deductible, if any, which is greater than five percent (5%) of the cost of the repair, is less than ninety-five percent (95%) of the cost of the repair or restoration, Landlord shall fund such deficiency in its sole discretion; provided, however, that in the event Landlord does not agree to make such deficiency available for restoration, either Landlord or Tenant may terminate this Lease by written notice to the other, whereupon this Lease shall terminate as provided in Section 10.2.1 and Landlord shall pay to Tenant a termination fee equal to Tenant's Operating Profit for the immediately preceding Fiscal Year. If Landlord or Tenant elects to terminate this Lease in accordance with this Section 10.2.3, Landlord shall not be permitted to commence restoration of the Leased Property for a period of one (1) year after the date of the Casualty.

Deficiency in Insurance Proceeds. If the cost of the repair -------------------------------- or restoration exceeds the amount of proceeds received by Landlord Operating Lessor from the insurance required under Article 9 11 and Tenant Operating Lessee is obligated to restore pursuant to Section 10.2.2 12.2 hereof, Landlord Operating Lessor agrees, subject to this Section 10.2.312.7, to contribute any excess amounts needed to restore the Facility prior to requiring Tenant Operating Lessee to commence such work. Such difference shall be made available by LandlordOperating Lessor, together with any insurance proceeds, for application to the cost of repair and restoration in accordance with the provisions of Section 10.2.412.1. In the event the sum of (a) the insurance proceeds released to LandlordOperating Lessor, and (b) that portion of the deductible, if any, which is greater than five percent (5%) of the cost of the repair, is equal to at least ninety-five percent (95%) of the cost of the repair or restoration, Landlord Operating Lessor shall fund the deficiency. In the event the sum of (y) the insurance proceeds, and (z) that portion of the deductible, if any, which is greater than five percent (5%) of the cost of the repair, is less than ninety-ninety five percent (95%) of the cost of the repair or restoration, Landlord Operating Lessor shall fund such deficiency in its sole discretion; provided, however, that in the event Landlord Operating Lessor does not agree to make such deficiency available for restoration, either Landlord Operating Lessor or Tenant Operating Lessee may terminate this Lease by written notice to the other, whereupon this Lease shall terminate as provided in Section 10.2.1 Article 36 and Landlord Operating Lessor shall pay to Tenant Operating Lessee a termination fee equal to Tenant's Operating Profit for the immediately preceding Fiscal Year. If Landlord or Tenant elects to terminate this Lease as provided in accordance with this Section 10.2.3, Landlord shall not be permitted to commence restoration of the Leased Property for a period of one (1) year after the date of the CasualtyArticle 36.