Destruction of Building. If: the Building is damaged or destroyed by an Insured Risk; the Property is wholly or partly unfit for occupation and use and/or the Common Parts are damaged or destroyed so as to make the Property inaccessible or unusable; and the payment of the insurance monies is not wholly or partly refused because of any act or omission of the Tenant or any undertenant or their respective workers, contractors or agents or any other person at the Property or the Building with the express or implied authority of any of them, then payment of the Rent and Service Charge, or a fair proportion of them according to the nature and extent of the damage, shall be suspended until the Building has been reinstated so as to make the Property fit for occupation and use and the Common Parts accessible and usable. Subject to the provisions of paragraph 3 of Schedule 6 if for any reason the repair, rebuilding or reinstatement of the Building shall be impossible following damage or destruction by any of the Insured Risks: the Landlord's obligation to reinstate the Building contained in paragraph 2 of Schedule 6 shall be deemed to have been discharged; the Landlord shall hold all proceeds of the insurance policy of the Building on trust for the Landlord, and the Tenant, and the Flat Tenants in proportion to their respective interests in the Building at the time of the damage or destruction, as agreed in writing between the Landlord, and the Tenant and the Flat Tenants or failing agreement as determined pursuant to clause 9.3; and the Landlord shall pay such sums due to the Tenant and the Flat Tenants within three months of agreement or on determination pursuant to clause 9.3. Any dispute arising regarding this clause 9 shall be finally determined by arbitration in accordance with the provisions of the Arbitration Xxx 0000. The tribunal shall consist of one arbitrator appointed by the President for the time being of the Royal Institution of Chartered Surveyors. The Rent, Insurance Rent, Service Charge and all other amounts due under this lease shall be paid by the Tenant in full without any set-off, counterclaim, deduction or withholding (other than any deduction or withholding of tax as required by law).
Destruction of Building. In the event that the Building is destroyed to an extent of not less than one-third of the replacement costs thereof, either party may elect to terminate this Lease, whether the Premises be injured or not. A total destruction of the Building shall terminate this Lease.
Destruction of Building. (a) Notwithstanding any other provision of this Lease, if all or any portion of the Building shall be damaged or destroyed, to the extent that the estimated costs of repairing, restoring or rebuilding it shall, by the Architect’s estimate, exceed by 10% or more the proceeds of insurance available to the Landlord for the purpose of repair, restoration or rebuilding, then the Landlord may, by notice to the Tenant given within 30 days of such damage or destruction, terminate this Lease, in which event neither the Landlord nor Tenant shall be bound to repair and the Tenant shall surrender the Premises to the Landlord within 30 days after delivery of its notice of termination and Rent shall be apportioned and paid to the date on which the Tenant delivers vacant possession of the Premises, subject to any abatement to which the Tenant may be entitled pursuant to Section 9.2.
(b) If the Landlord is entitled to, but does not elect to terminate this Lease, the Landlord shall, following such damage or destruction, diligently repair if necessary that part of the Building damaged or destroyed (exclusive of any responsibilities of the Tenant with respect to such repair). If the Landlord elects to repair the Building, the Landlord may do so in accordance with plans and specifications other than those used in the original construction of the Building provided it shall carry out all of the Landlord’s Work; however, any such construction shall be suitable for the Tenant’s use, shall comprise an area not less than the original construction and shall be of a quality equal to but not less than the original construction.
Destruction of Building. If the Demised Premises are damaged or destroyed by fire or other casualty during the term of this Lease, the rent herein reserved shall axxxx entirely in case the Demised Premises are, in the judgment of the Tenant, rendered untenantable, and prorata in case a part only be untenantable, until the Demised Premises or such part are restored to tenantable condition. If such damage or destruction is covered by the insurance provided for in Paragraph 11 above, the Landlord shall with due diligence, repair and restore the Demised Premises to good and tenantable condition. Provided however, that (a) if the destruction or damage amounts to more than 50% of the insurable replacement value of the Demised Premises determined as aforesaid, either Landlord or Tenant may cancel and terminate this Lease by giving written notice to the other party within 30 days after the date such damage or destruction occurs; (b) if the entire Demised Premises are, in the judgment of the Tenant, untenantable, the term of this Lease shall be extended for a period equal to the time required for repair and restoration of the Demised Premises unless terminated under Subparagraph (a) of this Paragraph.
Destruction of Building. In the event that Building is partially destroyed or damaged so as to affect 20% or more of the rentable area of the Building, or in the opinion of landlord the Building is rendered unsafe, and whether or not the Premises are affected, and in the opinion of Landlord (which shall be given by Notice to Tenant within 30 days of the happening of such damage or destruction), cannot be repaired with reasonable diligence within 180 days from the happening of such damage or destruction, Landlord may within 5 days next succeeding the giving of Landlord’s opinion as aforesaid, terminate this Lease by giving to Tenant Notice of such termination, in which event the Term shall cease and be at an end as of the date of such damage or destruction and the Rent and all other payments for which Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such damage or destruction.
Destruction of Building. If the leased Real Property and/or the school structure thereon is damaged or destroyed by fire or other casualty, in whole or in part, so as to render it unusable as a school, unfit for human habitation or occupancy or otherwise uninhabitable, this lease shall terminate with no further obligation upon either party unless the parties agree otherwise in writing.
Destruction of Building a) In the event of any damage to the Building or any part thereof, which damage does not render the Building, in Lessee's reasonable judgment wholly unfit for its intended use or occupancy by Lessee, and which damage is covered and insured against by the extended coverage fire insurance agreed to be maintained by Lessee during the term or until the sooner termination hereof, this Lease shall remain in full force and effect, and Lessee shall be entitled to abatement of a fair and just portion of the rent and taxes according to the usable space from the time of such damage until said Premises are completely reinstated or restored. If in Lessee's reasonable judgement the Building is rendered wholly unfit for its intended use or occupancy by Lessee and a contractor mutually acceptable to both Lessor and Lessee determines that the Building cannot be completely restored within 180 days of the fire or casualty, then either party hereto may terminate this Lease effective as of the date of fire or casualty. It is understood, however, between parties that, at Lessee's option, the term of this Lease shall be extended for a period of time equal to the amount of time, if any, Lessee is required to close its business at the Premises as the result of the casualty or casualties provided for under the terms of this Article and the rent and taxes for such period of time shall xxxxx. If the fire and extended coverage proceeds are inadequate to finance completely the restoration of the Premises, or the damage is not covered by fair and extended coverage insurance, Lessor may elect to pay the difference in the cost of restoring the Premises above the insurance proceeds. Should Lessor fail to exercise this election, and the fire and extended coverage proceeds remain inadequate to finance completely the restoration of the Premises or the damage is not covered by the fire and extended coverage, Lessee may, at its option, terminate the Lease or Lessee may pay for the difference in the cost of restoring the Premises above the insurance proceeds. If Lessee elects to pay such difference, the rent and taxes shall xxxxx until restoration is completed. Lessor is obligated to restore the Premises if Lessee elects to pay said difference above the insurance proceeds.
b) If Lessee does not terminate the Lease, then Lessor shall, with reasonable diligence after the occurrence of the event causing damage, cause said Building to be repaired and restored in the same general condition to which i...
Destruction of Building. In the event of the total destruction of the building by fire or otherwise, or so much thereof that Lessor shall desire to raze the building (whether or not the leased premises be affected), Lessor shall so notify Lessee within 60 days of the casualty, the rent shall be paid up to the date of the casualty, and from the date of the casualty, and thenceforth, this lease shall cease and come to an end.
Destruction of Building. Should the Building be partially destroyed or damaged so that twenty percent (20%) or more of the leasable area of the Building is affected, or if the Landlord is of the opinion that the Building is rendered unsafe, whether or not the Leased Premises are affected and if the Landlord is of the opinion (which the Landlord shall signify to the Tenant in writing within thirty (30) days following the damage or destruction) that the damage or destruction cannot be repaired with reasonable diligence within one hundred and eighty (180) days of the occurrence of the damage or destruction, the Landlord may, within five (5) days following the receipt of the above-mentioned notice, terminate the Lease by written notice to the Tenant to that effect, in which case this Lease shall terminate on the date of the damage or destruction, and the Minimum Rent and Additional Rent and all other amounts payable by the Tenant under the Lease shall be calculated and paid in full up to the date of the damage or destruction.
Destruction of Building. If the Building shall be destroyed or damaged and the shareholders shall decide not to repair or rebuild as provided in Paragraph 4;
