Common use of Destruction of Improvements Clause in Contracts

Destruction of Improvements. 1. In the event the Leased Premises are damaged or destroyed in whole or in part by fire or any other cause whatsoever during the term of this Lease, Landlord shall promptly repair and restore the Leased Premises which Landlord furnished upon the commencement of the Lease term to substantially the same condition that existed just prior to its damage or destruction, unless this Lease is terminated as hereinafter provided, and the fixed rent shall be abated in proportion to the portion of the Leased Premises which is untenantable until the Leased Premises are repaired by Landlord. The work of rebuilding or repair shall be initiated by Landlord with all reasonable dispatch, diligently proceeded with to completion, and Tenant shall repair or replace its trade fixtures, furnishings and equipment to return them to substantially the same condition that existed prior to their damage or destruction. In no event shall Landlord be required to repair or replace the betterments and improvements installed in the Leased Premises by Tenant or the trade fixtures, furnishings, equipment and other personal property located at the Leased Premises. 2. Notwithstanding anything to the contrary contained in this Article, in the event that the rebuilding, restoring or repair of the Leased Premises to tenantable condition would require more than one hundred eighty (180) days to complete after commence-ment of the work (subject to extension for delays caused by acts of God, strikes, lockouts, shortages of materials and/or workmen or other causes beyond the reasonable control of Landlord) or in the event that the damage or destruction to the Leased Premises occurs during the last two years of the Lease term and would require more than ninety (90) days to complete after commencement of the work, then either party may terminate and cancel this Lease by giving written notice to the other within sixty (60) days after the occur-rence of such damage or destruction. In the event of any such termination, all proceeds of insurance maintained by Tenant pur- suant to Article XI, Paragraph 2 shall be the property of Tenant.

Destruction of Improvements. 1Between the date of this Agreement and the earlier of the Closing date or the termination of this Agreement, Seller agrees to maintain with respect to the Property casualty insurance with replacement cost and agreed amount coverage. In If prior to Closing all or any part of the event the Leased Premises are Property is destroyed or damaged or destroyed in whole is taken by condemnation, eminent domain or in part by fire other governmental acquisition provisions, then the following procedures shall apply: (i) If the cost of repair or any other cause whatsoever during replacement or the term of this Lease, Landlord shall promptly repair and restore the Leased Premises which Landlord furnished upon the commencement value of the Lease term to substantially governmental taking is Two Hundred Fifty Thousand Dollars ($250,000.00) or less in the same condition that existed just prior to its damage or destruction, unless this Lease is terminated as hereinafter providedreasonable opinion of Buyer’s and Seller’s respective engineering consultants, and the fixed rent Leases of the Property are not terminable on account thereof (assuming any necessary repairs, replacements or alterations required under the Leases are diligently pursued by the landlord thereunder) or, if any Lease is so terminable, the tenant under such Lease has waived its termination rights and no abatement of rent, which is neither covered by insurance nor for which Seller does not agree to indemnify Buyer, occurs as a result of the damage, destruction or, or, after taking into account all Leases terminated (and treating for this purpose as having been terminated all Leases which are terminable and as to which the tenant has not waived its termination rights and/or abatement of rent, which is neither covered by insurance nor for which Seller does not agree to indemnify Buyer, occurs), the tenancy condition set forth in Paragraph 15(a) is still fulfilled, then Buyer shall be abated close and take the Property as diminished by such events with no reduction in proportion the Purchase Price, and Seller shall assign the right to all casualty insurance and condemnation proceeds due with respect to such destruction, damage or taking to Buyer, as well as, to the portion extent the same are assignable, the proceeds and benefits under any rent loss or business interruption policies attributable to the period following the Closing and deductibles. (ii) If the cost of repair or replacement or the value of the Leased Premises which governmental taking is untenantable until the Leased Premises are repaired by Landlord. The work of rebuilding or repair shall be initiated by Landlord with all reasonable dispatch, diligently proceeded with to completion, and Tenant shall repair or replace its trade fixtures, furnishings and equipment to return them to substantially the same condition that existed prior to their damage or destruction. In no event shall Landlord be required to repair or replace the betterments and improvements installed greater than Two Hundred Fifty Thousand Dollars ($250,000.00) in the Leased Premises by Tenant reasonable opinion of Buyer’s and Seller’s respective engineering consultants, or the trade fixturesLeases are terminable on account thereof (assuming any necessary repairs, furnishingsreplacements or alterations required under the Leases are diligently pursued by the landlord thereunder) and the tenant under such Lease has not waived its termination rights, equipment and other personal property located at the Leased Premises. 2. Notwithstanding anything to the contrary contained in this Article, in the event that the rebuilding, restoring or repair if an abatement of rent occurs as a result of the Leased Premises to tenantable condition would require more than one hundred eighty (180) days to complete after commence-ment of the work (subject to extension for delays caused by acts of Goddamage, strikes, lockouts, shortages of materials and/or workmen destruction or other causes beyond the reasonable control of Landlord) or in the event that the damage or destruction to the Leased Premises occurs during the last two years of the Lease term and would require more than ninety (90) days to complete after commencement of the workcondemnation, then Buyer, at its sole option, may elect either party may to (x) terminate and cancel this Lease Agreement by giving written notice to Seller and receive an immediate return of the Xxxxxxx Money (and all interest thereon) and neither party shall have any further liability to the other within sixty hereunder except for the Post-Termination Obligations; or (60y) days after accept an assignment of Seller’s rights to all casualty insurance and condemnation proceeds with respect thereto with no reduction in the occur-rence Purchase Price, it being understood and agreed that, in such event, Seller shall cooperate with Buyer in the adjustment and settlement of such damage the insurance or destructioncondemnation claim. The proceeds and benefits under any rent loss or business interruption policies attributable to the period following the Closing and deductibles shall likewise, to the extent the same are assignable, be transferred and paid over to Buyer. (iii) In the event of any a dispute between Seller and Buyer with respect to the cost of repair, restoration or replacement with respect to the matters set forth in this subsection 18(e), an engineer designated by Seller and an engineer designated by Buyer shall select an independent engineer licensed to practice in the jurisdiction where such terminationProperty is located who shall resolve such dispute. All fees, all proceeds costs and expenses of insurance maintained by Tenant pur- suant to Article XI, Paragraph 2 the engineer so selected shall be the property of Tenant.shared equally by Buyer and Seller. (ttt)

Destruction of Improvements. 1. Except as specifically provided in this Xxxxxxxxx 00, Xxxxxx shall not be entitled to any abatement of rent on account of any damage to or destruction of improvements on the Leased Property, and no other obligations of Lessee shall be altered or terminated as a result of such damage or destruction. (a) In the event of any damage or destruction to the improvements located on the Leased Premises are damaged or destroyed in whole or in part by fire or any other cause whatsoever during Property which causes the term fair market value of this Lease, Landlord shall promptly repair and restore the improvements located on the Leased Premises which Landlord furnished upon Property to be reduced by twenty-five percent (25%) or more, Lessee shall have the commencement right to elect whether to terminate the Lease or to cause Lessor to repair the damage. (1) If Lessee elects to terminate this lease, Lessee shall so notify Lessor by written notice delivered to Lessor within forty-five (45) days after the date of the Lease term to substantially the same condition that existed just prior to its damage or destruction, unless this Lease is terminated as hereinafter provided, and the fixed rent shall be abated in proportion to the portion of the Leased Premises which is untenantable until the Leased Premises are repaired by Landlord. The work of rebuilding or repair shall be initiated by Landlord with all reasonable dispatch, diligently proceeded with to completion, and Tenant shall repair or replace its trade fixtures, furnishings and equipment to return them to substantially the same condition that existed prior to their damage or destruction. In no event shall Landlord be required If Lessee does not elect to repair or replace the betterments and improvements installed terminate this Lease as provided in the Leased Premises by Tenant or preceding sentence, then Lessor shall have the trade fixtures, furnishings, equipment and other personal property located option at any time within (sixty) 60 days after the Leased Premises. 2. Notwithstanding anything to the contrary contained in this Article, in the event that the rebuilding, restoring or repair date of the Leased Premises to tenantable condition would require more than one hundred eighty (180) days to complete after commence-ment of the work (subject to extension for delays caused by acts of God, strikes, lockouts, shortages of materials and/or workmen or other causes beyond the reasonable control of Landlord) or in the event that the damage or destruction to elect to terminate the Leased Premises occurs during Lease. If either Lessee or Lessor terminates the last Lease as provided in the two years preceding sentences, then the termination shall be effective as of the Lease term and would require more than ninety (90) days to complete after commencement date of the work, then either party may terminate and cancel this Lease by giving written notice to the other within sixty (60) days after the occur-rence of such damage or destruction. In the event of any such termination of the Lease under this subparagraph, Lessee's right of possession and obligation to pay rent in connection with the tenancy created hereunder shall cease as of the date of termination, all proceeds of insurance maintained by Tenant pur- suant to Article XI, Paragraph 2 and Lessee shall be entitled to reimbursement of any prepaid rent, security deposits or other amounts paid by Lessee and attributable to the property portion of Tenantthe anticipated Lease Term which is subsequent to the termination date. (2) If neither Lessee nor Lessor elects to terminate this Lease as provided in subparagraph 13(a)(1), then Lessor shall proceed to restore the improvements located on the Leased Property to substantially the same form and condition as prior to the damage or destruction, so as to provide Lessee with usable space equivalent in quantity and in character to the space available prior to the damage or destruction. Repairs shall be accomplished with all reasonable dispatch, subject to interruptions and delays from labor disputes and matters beyond the control of lessor. Lessee's obligation to pay rent shall be abated during any period of time when the Leased Property is so damaged as to not be usable by Lessee for Lessee's normal business purposes. (b) In the event of any damage or destruction to the improvements located on the Leased Property which causes the fair market value of the improvements located on the Leased Property to be reduced by less than twenty-five percent (25%), Lessor shall be obligated to restore the damaged improvements to substantially the same form and condition as prior to the damage or destruction, so as to provide Lessee with usable space equivalent in quantity and in character to the space available prior to the damage or destruction. Repairs shall be accomplished with all reasonable dispatch, subject to interruptions and delays from labor disputes and matters beyond the control of Lessor. (c) Lessee waives the provisions of California Civil Code Sections 1932(2) and 1933(4).

Destruction of Improvements. 1. In the event the Leased Premises are damaged or destroyed in whole or in part by fire or any other cause whatsoever during the term of this Lease, Landlord shall promptly repair and restore the Leased Premises which Landlord furnished upon the commencement of the Lease term to substantially the same condition that existed just prior to its damage or destruction, unless this Lease is terminated as hereinafter provided, and the fixed rent shall be abated in proportion to the portion of the Leased Premises which is untenantable until the Leased Premises are repaired by Landlord. The work of rebuilding or repair shall be initiated by Landlord with all reasonable dispatch, diligently proceeded with to completion, and Tenant shall repair or replace its trade fixtures, furnishings and equipment to return them to substantially the same condition that existed prior to their damage or destruction. In no event shall Landlord be required to repair or replace the betterments and improvements installed in the Leased Premises by Tenant or the trade fixtures, furnishings, equipment and other personal property located at the Leased Premises. 2. Notwithstanding anything to the contrary contained in this Article, in the event that the rebuilding, restoring or repair of the Leased Premises to tenantable condition would require more than one hundred eighty (180) days to complete after commence-ment of the work (subject to extension for delays caused by acts of God, strikes, lockouts, shortages of materials and/or workmen or other causes beyond the reasonable control of Landlord) or in the event that the damage or destruction to the Leased Premises occurs during the last two years of the Lease term and would require more than ninety (90) days to complete after commencement of the work, then either party may terminate and cancel this Lease by giving written notice to the other within sixty (60) days after the occur-rence of such damage or destruction. In the event of any such termination, all proceeds of insurance maintained by Tenant pur- pur-suant to Article XI, Paragraph 2 shall be the property of Tenant.

Destruction of Improvements. 1. In If the event improvements which constitute a portion of the Leased Premises are shall be damaged or destroyed in whole or in part by fire or any other cause whatsoever casualty, then Lessee shall immediately notify Lessor. Within 10 days of its receipt of such notice, Lessor shall give a notice to Lessee ("Lessor's Damage Notice") stating whether, in Lessor's reasonable opinion, such damage can be repaired from the insurance proceeds alone within 180 days after receipt of all necessary permits for repair of the damaged improvements (the "Repair Permits"). If Lessor's Damage Notice states that such damage cannot be so substantially repaired from the insurance proceeds within said 180 day period, then Lessee alone during the term Initial Term or any Renewal Term may terminate this Lease by written notice to the Lessor within thirty (30) days of the date of Lessor's Damage Notice. If this LeaseLease is not terminated as provided herein, Landlord then: (i) Lessor shall promptly diligently endeavor to obtain the Repair Permits; and (ii) from the insurance proceeds paid to Lessor under the insurance policies provided herein, then; (i) Lessor shall diligently endeavor to obtain the Repair Permits; and (ii) from the insurance proceeds paid to Lessor under the insurance policies provided herein to be carried by Lessee, and, to the extent such insurance proceeds are not sufficient to complete such repair and restore reconstruction, from additional funds supplied by Lessee (and not by Lessor), Lessee shall diligently endeavor to substantially complete the repair and reconstruction of the Leased Premises which Landlord furnished upon the commencement of the Lease term to substantially the same condition that existed just existing immediately prior to its such damage or destruction, unless destruction within 180 days after the later of receipt of the Repair Permits or receipt of such insurance proceeds. If this Lease is not terminated by Lessee as hereinafter providedprovided herein, then until the repair and reconstruction of the fixed rent Leased Premises is substantially complete, Lessee shall be abated in proportion required to pay the Base Rent and other amounts payable by Lessee hereunder only for the portion of the Leased Premises which that is untenantable until the Leased Premises usable while such repairs and reconstruction are repaired by Landlord. The work of rebuilding or repair shall be initiated by Landlord with all reasonable dispatch, diligently proceeded with to completion, and Tenant shall repair or replace its trade fixtures, furnishings and equipment to return them to substantially the same condition that existed prior to their damage or destruction. In no event shall Landlord be required to repair or replace the betterments and improvements installed in the Leased Premises by Tenant or the trade fixtures, furnishings, equipment and other personal property located at the Leased Premisesbeing made. 2. Notwithstanding anything to the contrary contained in this Article, in the event that the rebuilding, restoring or repair of the Leased Premises to tenantable condition would require more than one hundred eighty (180) days to complete after commence-ment of the work (subject to extension for delays caused by acts of God, strikes, lockouts, shortages of materials and/or workmen or other causes beyond the reasonable control of Landlord) or in the event that the damage or destruction to the Leased Premises occurs during the last two years of the Lease term and would require more than ninety (90) days to complete after commencement of the work, then either party may terminate and cancel this Lease by giving written notice to the other within sixty (60) days after the occur-rence of such damage or destruction. In the event of any such termination, all proceeds of insurance maintained by Tenant pur- suant to Article XI, Paragraph 2 shall be the property of Tenant.

Destruction of Improvements. 1Between the date of this Agreement and the earlier of the Closing date or the termination of this Agreement, Seller agrees to maintain with respect to the Property casualty insurance with replacement cost and agreed amount coverage. In If prior to Closing all or any part of the event the Leased Premises are Property is destroyed or damaged or destroyed in whole is taken by condemnation, eminent domain or in part by fire other governmental acquisition provisions, then the following procedures shall apply: (i) If the cost of repair or any other cause whatsoever during replacement or the term of this Lease, Landlord shall promptly repair and restore the Leased Premises which Landlord furnished upon the commencement value of the Lease term to substantially governmental taking is Two Hundred Fifty Thousand Dollars ($250,000.00) or less in the same condition that existed just prior to its damage or destruction, unless this Lease is terminated as hereinafter providedreasonable opinion of Buyer’s and Seller’s respective engineering consultants, and the fixed rent Leases of the Property are not terminable on account thereof (assuming any necessary repairs, replacements or alterations required under the Leases are diligently pursued by the landlord thereunder) or, if any Lease is so terminable, the tenant under such Lease has waived its termination rights and no abatement of rent, which is neither covered by insurance nor for which Seller does not agree to indemnify Buyer, occurs as a result of the damage, destruction or, or, after taking into account all Leases terminated (and treating for this purpose as having been terminated all Leases which are terminable and as to which the tenant has not waived its termination rights and/or abatement of rent, which is neither covered by insurance nor for which Seller does not agree to indemnify Buyer, occurs), the tenancy condition set forth in Paragraph 15(a) is still fulfilled, then Buyer shall be abated close and take the Property as diminished by such events with no reduction in proportion the Purchase Price, and Seller shall assign the right to all casualty insurance and condemnation proceeds due with respect to such destruction, damage or taking to Buyer, as well as, to the portion extent the same are assignable, the proceeds and benefits under any rent loss or business interruption policies attributable to the period following the Closing and deductibles. (ii) If the cost of repair or replacement or the value of the Leased Premises which governmental taking is untenantable until the Leased Premises are repaired by Landlord. The work of rebuilding or repair shall be initiated by Landlord with all reasonable dispatch, diligently proceeded with to completion, and Tenant shall repair or replace its trade fixtures, furnishings and equipment to return them to substantially the same condition that existed prior to their damage or destruction. In no event shall Landlord be required to repair or replace the betterments and improvements installed greater than Two Hundred Fifty Thousand Dollars ($250,000.00) in the Leased Premises by Tenant reasonable opinion of Buyer’s and Seller’s respective engineering consultants, or the trade fixturesLeases are terminable on account thereof (assuming any necessary repairs, furnishingsreplacements or alterations required under the Leases are diligently pursued by the landlord thereunder) and the tenant under such Lease has not waived its termination rights, equipment and other personal property located at the Leased Premises. 2. Notwithstanding anything to the contrary contained in this Article, in the event that the rebuilding, restoring or repair if an abatement of rent occurs as a result of the Leased Premises to tenantable condition would require more than one hundred eighty (180) days to complete after commence-ment of the work (subject to extension for delays caused by acts of Goddamage, strikes, lockouts, shortages of materials and/or workmen destruction or other causes beyond the reasonable control of Landlord) or in the event that the damage or destruction to the Leased Premises occurs during the last two years of the Lease term and would require more than ninety (90) days to complete after commencement of the workcondemnation, then Buyer, at its sole option, may elect either party may to (x) terminate and cancel this Lease Agreement by giving written notice to Seller and receive an immediate return of the Xxxxxxx Money (and all interest thereon) and neither party shall have any further liability to the other within sixty hereunder except for the Post-Termination Obligations; or (60y) days after accept an assignment of Seller’s rights to all casualty insurance and condemnation proceeds with respect thereto with no reduction in the occur-rence Purchase Price, it being understood and agreed that, in such event, Seller shall cooperate with Buyer in the adjustment and settlement of such damage the insurance or destructioncondemnation claim. The proceeds and benefits under any rent loss or business interruption policies attributable to the period following the Closing and deductibles shall likewise, to the extent the same are assignable, be transferred and paid over to Buyer. (iii) In the event of any a dispute between Seller and Buyer with respect to the cost of repair, restoration or replacement with respect to the matters set forth in this subsection 18(e), an engineer designated by Seller and an engineer designated by Buyer shall select an independent engineer licensed to practice in the jurisdiction where such terminationProperty is located who shall resolve such dispute. All fees, all proceeds costs and expenses of insurance maintained by Tenant pur- suant to Article XI, Paragraph 2 the engineer so selected shall be the property of Tenantshared equally by Buyer and Seller.