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.
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Samples: Lease Agreement, Lease Agreement
Destruction and Restoration. Tenant Landlord covenants and agrees that in case of damage to or destruction of the Landlord's Work and Tenant Improvements after the Lease Commencement Date, Date by fire or otherwise otherwise, Landlord, at its sole cost and expense, shall promptly restore, repair, replace and rebuild the same within a period of twelve (12) months from the "Casualty Damage"), the insurance proceeds, if any, that, as a result date of the Casualty Damagedamage or destruction (provided, are payable under any fire or casualty insurance maintained by however, such period shall be subject to a Force Majeure Event). The Demised Premises (including Tenant Landlord's Work and Tenant Improvements, and Tenant's changes and alterations made pursuant to Section 6.1 hereof 20.1), shall be payable restored as nearly as possible 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 condition that such Improvements are in substantially the same condition as existed were in immediately prior to the Casualty Damage as soon as reasonably possible such damage or destruction with such changes or alterations (made in conformity with Article XIX 20 hereof) as may be reasonably acceptable to Landlord and Tenant or required by lawLaw. Tenant shall forthwith give Landlord written notice of any Casualty Damage such damage or destruction 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, including the cost of temporary repairs for the protection of the Demised Premises Premises, or any portion thereof, pending completion thereof are herein called sometimes hereinafter referred to as the "Restoration." The Restoration shall be carried on and completed in accordance with Section 13.2 the provisions and conditions of this Article XIX hereof15.
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Destruction and Restoration. Tenant Landlord covenants and agrees that that, in --------------------------- case of damage to or destruction of the Improvements after the Lease Commencement Date, Date by fire or otherwise otherwise, Landlord, at its sole cost and expense, shall promptly and diligently proceed with the adjustment of Landlord's insurance claims in respect thereof within a period of six (6) months after the "Casualty Damage")date of the damage or destruction and, thereafter, if and to the extent required by this Article 15, ---------- promptly commence, and diligently prosecute to completion, the insurance proceedsrestoration, if anyrepair, that, as a result replacement and rebuilding of the Casualty Damagesame. The Demised Premises (including Tenant Improvements, are payable under any fire or casualty insurance maintained by Tenant and Tenant's changes and alterations made pursuant to Section 6.1 hereof 20.1), shall be payable restored as nearly as possible to the Insurance Trustee (defined condition that the ------------ same were 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 immediately prior to the Casualty Damage as soon as reasonably possible such damage or destruction with such changes or alterations (made in conformity with Article XIX hereof20) as may be reasonably ---------- acceptable to Landlord and Tenant or required by lawLaw. Tenant shall forthwith give Landlord written notice of any Casualty Damage such damage or destruction 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, including the cost of temporary repairs for the protection of the Demised Premises Premises, or any portion thereof, pending completion thereof are herein called sometimes hereinafter referred to as the "Restoration." The Restoration shall be carried on and completed in accordance with Section 13.2 the provisions and conditions of this Article XIX hereof.15. ----------
Appears in 1 contract
Destruction and Restoration. Tenant Landlord covenants and agrees that in case of damage to or destruction of the Landlord’s Work and Tenant Improvements after the Lease Commencement Date, Date by fire or otherwise otherwise, Landlord, at its sole cost and expense, shall promptly restore, repair, replace and rebuild the same within a period of twelve (12) months from the "Casualty Damage"), the insurance proceeds, if any, that, as a result date of the Casualty Damagedamage or destruction (provided, are payable under any fire or casualty insurance maintained by however, such period shall be subject to a Force Majeure Event). The Demised Premises (including Tenant Landlord’s Work and Tenant Improvements, and Tenant’s changes and alterations made pursuant to Section 6.1 hereof 20.1), shall be payable restored as nearly as possible 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 condition that such Improvements are in substantially the same condition as existed were in immediately prior to the Casualty Damage as soon as reasonably possible such damage or destruction with such changes or alterations (made in conformity with Article XIX 20 hereof) as may be reasonably acceptable to Landlord and Tenant or required by lawLaw. Tenant shall forthwith give Landlord written notice of any Casualty Damage such damage or destruction 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, including the cost of temporary repairs for the protection of the Demised Premises Premises, or any portion thereof, pending completion thereof are herein called sometimes hereinafter referred to as the "“Restoration." ” The Restoration shall be carried on and completed in accordance with Section 13.2 the provisions and conditions of this Article XIX hereof15.
Appears in 1 contract
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 and Mortgagee's 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.
Appears in 1 contract
Samples: Lease Agreement