Destruction by an Uninsured Casualty. In the event of a total or partial destruction of the Premises by a casualty for which Landlord has not received insurance proceeds sufficient to repair the damage or destruction during the Lease Term and which would cost in excess of Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) to repair, Landlord shall have the option to terminate this Lease, unless Tenant agrees to contribute the amount of such uninsured loss beyond the initial $250,000 to repair, which amount shall be the sole obligation of Landlord. Further if the uninsured damage can not be repaired within twelve (12) months from the date of destruction as reasonably determined by the architect responsible for the reconstruction such determination to be made within sixty (60) days of the date of destruction, either Landlord or Tenant shall have the option to terminate this lease.
Destruction by an Uninsured Casualty. In the event of a total or partial destruction of the Premises by an uninsured casualty, the Lease shall automatically terminate, unless (i) Landlord elects to rebuild, and (ii) the damage can be repaired within one hundred twenty (120) days.
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Destruction by an Uninsured Casualty. In the event of a total or partial destruction of the Premises by a casualty for which Landlord is not actually carrying insurance and is not required to carry insurance, the Lease shall automatically terminate, unless Landlord elects to rebuild or Tenant elects to contribute the shortfall in insurance proceeds, such election to be made by written notice from Tenant to Landlord within ten (10) business days after determination that there is a shortfall. In the event of a destruction by an uninsured casualty (i) of greater than one-third (1/3) of the replacement cost of the Premises, or (ii) that cannot be repaired within one hundred eighty (180) days from the date of receipt of all necessary governmental approvals necessary under the laws and regulations of State, Federal, County or Municipal authorities, Tenant may elect to terminate this Lease.
Destruction by an Uninsured Casualty. In the event of a total or partial destruction of the Premises during the Lease Term by a casualty for which Landlord has not received insurance proceeds sufficient to repair the damage or destruction, Landlord may elect to either (i) terminate this Lease by giving written notice to Tenant within fifteen (15) days after determining the replacement cost and furnishing reasonable evidence thereof to Tenant; or (ii) rebuild the Premises, provided the damage can be repaired within one hundred eighty (180) days from the date of receipt of all governmental approvals necessary under the laws and regulations of State, Federal, County or Municipal authorities, as reasonably determined by Landlord. Notwithstanding the foregoing, if the cost to repair the damage from an uninsured casualty is less than 5% of the then replacement cost of the Building (excluding Tenant Improvements), then Landlord shall repair the damage. If Landlord contributes to payment for an uninsured loss, the contributed amount shall be amortized over the useful life of the improvements and such amortized amount shall be reimbursed by Tenant to Landlord as additional rent, together with interest at the prime rate of Union Bank plus two percent (2%). If Landlord so elects to terminate this Lease, Tenant, within fifteen (15) days after receiving Landlord's notice to terminate, can elect to pay to Landlord at the time Tenant notifies Landlord of its election, the actual cost of restoration, in which case Landlord shall restore the Premises and this Lease shall not terminate.
Destruction by an Uninsured Casualty. In the event of a total or partial destruction of the Premises by a casualty for which Landlord has not, through no fault of Landlord, received insurance proceeds sufficient to repair the damage or destruction during the Lease Term, the Lease shall automatically terminate unless (i) Landlord elects to rebuild and provides written notification to Tenant of such election within thirty (30) days of the destruction, and (ii) the damage can be repaired within one hundred eighty (180) days from the date of destruction. In the event Landlord elects to rebuild, Tenant shall be entitled to a proportionate reduction of Base Monthly Rent while repairs are being made, such proportionate reduction to be based upon the extent to which the making of such repairs shall interfere with the business carried on by Tenant in the Premises, in the reasonable judgment of Landlord and Tenant.
Destruction by an Uninsured Casualty. In the event of a total or partial destruction of the Sublease Premises by a casualty for which Sublandlord is not required to carry insurance pursuant to this Sublease, the Sublease shall automatically terminate, unless (i) Sublandlord elects to rebuild at Sublandlord's cost, and (ii) the damage can be repaired within one hundred eighty (180) days.
Destruction by an Uninsured Casualty. In the event of a total or partial destruction of Premises by an uninsured casualty the Lease shall automatically terminate, unless (i) Landlord elects to rebuild, and (ii) the damage can be repaired within one hundred eighty (180) days. If Landlord elects to contribute to payment for an uninsured loss, such contributed amount shall be amortized over the useful life of the improvements and such amortization shall be reimbursed by Tenant to Landlord as additional rent together with interest at the prime rate of Union Bank plus two percent (2%).
Destruction by an Uninsured Casualty. 21 Damage or Destruction at End of Term . . . . . . . . . . . . . . . 21
Destruction by an Uninsured Casualty. In the event of a total or partial destruction of the Premises by an uninsured casualty, the Lease shall automatically terminate, unless Landlord elects to rebuild. In the event of a destruction by an uninsured casualty (i) of greater than one-third (1/3) of the replacement cost of the Premises, or (ii) that can not be repaired within one hundred eighty (180) days from the date of receipt of all necessary governmental approvals necessary under the laws and regulations of State, Federal, County or Municipal authorities, Tenant may elect to terminate this Lease.
