Common use of DESTRUCTION/INSURANCE IRREVOCABLE Clause in Contracts

DESTRUCTION/INSURANCE IRREVOCABLE. In the event of the Building and the Premises or any of them or any part of them being destroyed or damaged by any of the Insured Perils and the insurance money under any policy of insurance effected by reason of any act or default of the Tenant being wholly or partially irrecoverable then in every case to reimburse the Landlord the shortfall payable in reinstating the building on receipt of certified expenses (by the Landlord’s Architect) paid in reinstating the premises.