Destruction Due to Risk Not Covered by Insurance. If during the term, the Premises are totally or partially destroyed from a risk covered by the insurance described in Section 20 (Insurance), rendering the Premises totally or partially inaccessible or unusable, CineLux shall restore the Premises to substantially the same condition as it was in immediately before destruction, whether or not the insurance proceeds are sufficient to cover the actual cost of restoration. Such destruction shall not terminate this Agreement. If the laws existing at that time do not permit the restoration, either party can terminate this Agreement immediately by giving notice to the other party. If the cost of restoration exceeds ten percent (l0%) of the then replacement value of the Premises totally or partially destroyed, CineLux can elect to terminate this Agreement by giving notice to Town within sixty (60) days after determining the restoration cost and replacement value. If CineLux elects to terminate this Agreement, Town, within thirty (30) days after receiving CineLux's notice to terminate, can elect to pay to CineLux, at the time Town notifies CineLux of its election, the difference between ten percent (10%) of the replacement value of the Premises and the actual cost of restoration, in which case CineLux shall restore the Premises. On Town's making its election to contribute, each party shall deposit immediately the amount of its contribution with such institutional lender or title company as may be jointly selected by the parties (“the Insurance Trustee”). If the destruction does not exceed ten percent (10%) of the then replacement value of the Premises, CineLux shall immediately deposit the cost of restoration with the Insurance Trustee. This Agreement shall terminate if CineLux elects to terminate this Agreement and Town does not elect to contribute toward the cost of restoration as provided in this Section. If the Premises are destroyed from a risk not covered by the insurance described in Section 20 (Insurance), and CineLux has the obligation to restore the Premises as provided in this Section 15.3, both parties shall deposit with the Insurance Trustee their respective contributions toward the cost of restoration. All sums deposited with the Insurance Trustee shall be held for the following purposes and the Insurance Trustee shall have the following powers and duties: The sums shall be paid in installments by the Insurance Trustee to the contractor retained by CineLux as construction progresses, for payment of the...
Destruction Due to Risk Not Covered by Insurance. Notwithstanding anything to the contrary in Section 6.06 of this Lease, TENANT has the right to terminate this Lease, at any time, if the improvements on the Premises are damaged or destroyed by a casualty for which TENANT is not required under this Lease to carry insurance and the cost to repair or restore such improvements exceeds 50 percent of the fair market value of all the improvements on the Premises immediately prior to the damage or destruction.
Destruction Due to Risk Not Covered by Insurance. If during the term, the Premises are totally or partially destroyed from a risk covered by the insurance described in Section 20 (Insurance), rendering the Premises totally or partially inaccessible or unusable, Cinelux shall restore the Premises to substantially the same condition as it was in immediately before destruction, whether or not the insurance proceeds are sufficient to cover the actual cost of restoration. Such destruction shall not terminate this Agreement. If the laws existing at that time do not permit the restoration, either party can terminate this Agreement immediately by giving notice to the other party. If the cost of restoration exceeds ten percent (l0%) of the then replacement value of the Premises totally or partially destroyed, Cinelux can elect to terminate this Agreement by giving notice to Town within sixty (60) days after determining the restoration cost and replacement value. If Cinelux elects to terminate this Agreement, Town, within thirty
Destruction Due to Risk Not Covered by Insurance. If the ------------------------------------------------- Demised Premises is totally or partially destroyed from a risk not covered by the insurance required by Section 11.4, then Landlord may terminate this Lease. If Landlord does not terminate this Lease, Landlord shall restore the Demised Premises to substantially the same condition they were in immediately before the destruction. If Landlord elects to restore the Demised Premises the destruction shall not terminate this Lease. If Landlord elects to terminate this Lease as permitted in this Section 12.2, Tenant, within thirty (30) days after receiving Landlord's notice of termination, may elect to pay to Landlord the actual cost of restoration, in which case Landlord shall restore the Demised Premises and Landlord's notice of termination shall be rescinded. After the restoration, Landlord shall give Tenant satisfactory evidence that all sums contributed by Tenant have been expended by Landlord in paying the cost of restoration.
Destruction Due to Risk Not Covered by Insurance. If, during the term of this Lease and any renewal term, the Property is totally or partially destroyed by a risk not covered by the insurance, rendering the Property totally or partially inaccessible or unusable, City can elect to terminate this Lease by giving notice to Tenant within fifteen (15) days after determining the restoration cost and replacement value.
Destruction Due to Risk Not Covered by Insurance. If, during the term, the Leased Premises are totally or partially destroyed from a risk not covered by the insurance described in Section 6.2, rendering the Leased Premises totally or partially inaccessible or unusable, Lessee shall either restore the Leased Premises to substantially the same condition as they were in immediately before destruction or terminate the lease. If, however, the destruction is caused by any act or omission of Lessee or Lessee's agents, employees, officers, independent contractors, invitees, sublessees, assignees, or licensees, such destruction shall not terminate the Lease and, instead, Lessee shall restore the Leased Premises to substantially the same condition as they were in immediately before the destruction. If the existing laws do not permit the restoration, either party can terminate this lease immediately by giving notice to the other party.
Destruction Due to Risk Not Covered by Insurance. If, during the Term, the Premises are totally or partially destroyed from a risk not covered by the insurance described in paragraph 7.2, rendering the Premises totally or partially inaccessible or unusable, either party can terminate this Lease immediately by giving notice to the other party.
Destruction Due to Risk Not Covered by Insurance. If any of the Tenant-owned Improvements are damaged or destroyed by any casualty not covered by the insurance Provisions of this Lease and if the leased Premises are thereby rendered unfit for the uses prescribed herein, Tenant shall have the option of removing any Improvements and alterations and returning the Premises as it was at the time of the inception of this Lease, in which event, Tenant may terminate this Lease, or rebuild the Improvements in such a way that it would be comparable in use and value (but not necessarily design) to the Improvements which had existed prior to the casualty.
Destruction Due to Risk Not Covered by Insurance. If, during the term, the License Area are totally or partially destroyed from a risk not covered by the insurance described in Paragraph 7.1, rendering the License Area totally or partially inaccessible or unusable, Licensee shall restore the License Area to substantially the same condition they were in immediately before destruction. Such destruction shall not terminate this Agreement. If the existing laws do not permit the restoration, either party may terminate this Agreement
Destruction Due to Risk Not Covered by Insurance. If, during the term, the Premises are totally or partially destroyed from a risk covered by the insurance described in Section 20 (Insurance), rendering the Premises or the building or improvements in which the Premises are located totally or partially inaccessible or unusable, City shall restore the Premises or the building or improvements in which the Premises are located to substantially the same condition as it was in immediately before destruction.. Such destruction shall not terminate this Lease. If the laws existing at that time do not permit the restoration, either party can terminate this Lease immediately by giving notice to the other party.
