Destruction and Restoration. A. Tenant covenants and agrees that in case of damage to or destruction of the Demised Premises after the Commencement Date of the term of this Lease, by fire or otherwise, Tenant, at its sole cost and expense, shall promptly restore, repair, replace and rebuild the same as nearly as possible to the condition that the same were in immediately prior to such damage or destruction with such changes or alterations (made in conformity with paragraph 6 hereof) as may be reasonably acceptable to Landlord or required by law. Tenant shall forthwith give Landlord written notice of such damage or destruction upon the occurrence thereof and specify in such notice, in reasonable detail, the extent thereof. Such restoration, repairs, replacements, rebuilding, changes and alterations, including the cost of temporary repairs for the protection of the Demised Premises, or any portion thereof, pending completion thereof are sometimes hereinafter referred to as the "Restoration." The Restoration shall be carried on and completed in accordance with the provisions and conditions of this Lease including but not limited to paragraphs 5, 6, 9, and 16 hereof. Tenant shall, at Tenant's expense, regardless of whether there are sufficient insurance proceeds therefor, promptly commence and complete with all due diligence the Restoration to as nearly as possible the condition which existed prior to such damage or destruction.
B. All insurance moneys held by Agent, shall be applied to the payment of the costs of the Restoration and shall be paid out from time to time as the Restoration progresses upon the written request of Tenant, accompanied by a certificate of the architect or a qualified professional engineer in charge of the Restoration stating that as of the date of such certificate (a) the sum requested is justly due to the contractors, subcontractors, materialmen, laborers, engineers, architects, or persons, firms or corporations furnishing or supplying work, labor, services or materials for such Restoration, or is justly required to reimburse Tenant for any expenditures made by Tenant in connection with such Restoration, and when added to all sums previously paid out by Landlord does not exceed the value of the Restoration performed to the date of such certificate by all of said parties; (b) except for the amount, if any, stated in such certificates to be due for work, labor, services or materials, there is no outstanding indebtedness known to the person signing such certificat...
Destruction and Restoration. 16.1. Subject to the rights of a Subleasehold Mortgagee under Section 19.7, in the event any portion of the Subleased Premises, including any building(s), parking areas or other improvements or facilities located on the Subleased Premises, (but excluding movable trade fixtures, furniture and equipment), shall be damaged by fire or other casualty to the extent of fifty percent (50/a) or less, as determined solely and reasonably by the Sublessor, such damage shall be repaired by Sublessee as promptly as possible and at Sublessee's expense so as to restore the same as nearly as possible to the condition prior to such damage. In discharging this obligation Sublessee may utilize available insurance in accordance with the provisions of Section 16.4 and Section 16.5 and shall perform such work in accordance with Section 16.6.
16.2. Subject to the rights of a Subleasehold Mortgagee under Section 19.7, in the event of damage to or destruction of any portion or component of the Subleased Premises, including any buildings) or other improvements or facilities on the Subleased Premises (but excluding movable trade fixtures, furniture and equipment) by fire or other casualty; to an extent heater than fifty percent (50%), as determined solely and reasonably by the Sublessor, the Sublessee shall have the election either to terminate this Sublease in accordance with Section 16.3 or to repair and restore the damaged portions in accordance with Sections 16.4 and 16.5.
16.3. In the event the Sublessee elects to terminate this Sublease as allowed in Section 16.2, it shall provide written notice of such termination to Sublessor within thirty (30) days following the occurrence of such damage or destruction, which termination shall be effective on the third day following the date of receipt of such notice. In such event, the proceeds received from any applicable policy of insurance shall, subject to the rights of any Subleasehold Mortgagee, as defined in Article 19, be applied first to removing any debris and restoring the site to a condition satisfactory to the Sublessor; and second to any sums owed by Sublessee to the Sublessor. Subject to the rights of any Subleasehold Mortgagee, as defined in Article 19, any balance remaining from any insurance proceeds shall then be apportioned between the Sublessor and Sublessee as follows: First, to Sublessor an amount equal to the unamortized balance of leasehold improvements made at Subles5or's expense calculated on a straight line basis...
Destruction and Restoration. 9 17. Condemnation...........................................................10 18.
Destruction and Restoration. Tenant covenants and agrees that in case of damage to or destruction of the Improvements after the Lease Commencement Date, by fire or otherwise (the "Casualty Damage"), the insurance proceeds, if any, that, as a result of the Casualty Damage, are payable under any fire or casualty insurance maintained by Tenant pursuant to Section 6.1 hereof shall be payable to the Insurance Trustee (defined in Section 13.2 hereof), and, subject to the terms and conditions of this Section 13.1, Tenant shall commence the prompt and diligent repair and replacement of the Improvements as soon as reasonably is possible so that such Improvements are in substantially the same condition as existed prior to the Casualty Damage as soon as reasonably possible with such changes or alterations (made in conformity with Article XIX hereof) required by law. Tenant shall forthwith give Landlord written notice of any Casualty Damage upon the occurrence thereof and specify in such notice, in reasonable detail, the extent thereof. Subject to Landlord's reasonable approval, Tenant shall negotiate the settlement of insurance proceeds with respect to the Casualty Damage. Such restoration, repairs, replacements, rebuilding, changes and alterations, including, without limitation, the cost of temporary repairs for the protection of the Demised Premises pending completion thereof are herein called the "Restoration." The Restoration shall be carried on and completed in accordance with Section 13.2 and Article XIX hereof.
Destruction and Restoration. 31 --------------------------- 15.2. Application of Insurance Proceeds................................................................. 32 --------------------------------- 15.
Destruction and Restoration. 34 ARTICLE 17.
Destruction and Restoration. Tenant covenants and agrees that in case of damage to or destruction of the Improvements after the Commencement Date by fire or otherwise, Tenant at its sole cost and expense, shall promptly restore, repair, replace and rebuild the same ("Restoration") as nearly as possible to the condition that the same were in immediately prior to such damage or destruction with such changes or alterations as may be reasonably acceptable to Tenant or required by law. Tenant shall forthwith give Landlord written notice of such damage or destruction upon the occurrence thereof and specify in such notice, in reasonable detail, the extent thereof. The Restoration shall be carried on and completed in accordance with the provisions and conditions of this Lease. All insurance proceeds shall be held by Landlord and Tenant as co-trustee. If the insurance moneys in the hands of Landlord and Tenant as co-trustees shall be deemed to be insufficient by Landlord to pay the entire costs of the Restoration, Tenant agrees, only to the extent Tenant failed to maintain the insurance Tenant is required to maintain under this Lease, to pay any deficiency promptly upon demand that would have been paid by the insurance company had Tenant maintained the required insurance.
Destruction and Restoration. 10 ARTICLE XIV CONDEMNATION......................................................11
Destruction and Restoration. 16.1. Subject to the rights of Sublessor’s Mortgagee, if the Premises or the Building are substantially damaged by fire or casualty (the term “substantially damaged” meaning damage of such a character that the same cannot, in ordinary course, reasonably be expected to be repaired within one hundred eighty (180) days from the date of such damage or casualty), or if any substantial part of the Building is taken by any exercise of the right of eminent domain, then the Sublessor shall have the election either to terminate this Sublease in accordance with Section 16.2 as it relates to the damaged portions or to repair the damaged portions in accordance with Section 16.3, subject to the rights of the PDA under the Primary Lease and subject to the rights of Sublessor’s Mortgagee.
16.2. If the Sublessor elects to terminate this Sublease as allowed in Section 16.1, it shall provide written notice of such termination to Sublessee within thirty (30) days following the occurrence of such damage or destruction, which termination shall be effective on the tenth (10th) day following the date of receipt of such notice. In such event, the proceeds received from any applicable policy of insurance obtained by Sublessor shall be applied first to Sublessor’s mortgagee, second to removing any debris and restoring the site to a condition satisfactory to the Sublessor, and third to any sums owed by Sublessee to the Sublessor under this Sublease, such as, for example, unpaid Rent, subject to rights of the PDA under the Primary Lease. Any balance remaining from any insurance proceeds shall then be apportioned between the Sublessor and Sublessee as follows:
Destruction and Restoration. A. Tenant covenants and agrees that in case of damage to or destruction of a Building after the Commencement Date, by fire or otherwise (a "Casualty"), Tenant will promptly give Landlord written notice ("Tenant Casualty Notice") of such damage or destruction upon the occurrence thereof and specify in such notice, in reasonable detail, the extent thereof. Within thirty (30) days of Landlord's receipt of the Tenant Casualty Notice, Landlord agrees to notify Tenant in writing (the "Landlord Casualty Notice") as to whether the Casualty is a Minor Destruction or a Major Destruction, as such terms are defined below.
