Destruction of Leased Premises. In the event of damage or destruction of the Leased Premises by fire or any other casualty, this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board elects not to repair the damage because of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, b...
Destruction of Leased Premises. (A) If the Leased Premises are damaged or destroyed by fire or other casualty covered by insurance, then (1) if totally destroyed or so that the Leased Premises are rendered unleaseable, this Lease shall terminate as of the date of such destruction and Tenant shall be liable for the rent only to the date of such destruction and awards for the Leased Premises shall belong to and be payable to Landlord; or (2) if only partially destroyed an still leaseable, Landlord shall, within a reasonable time, repair the Leased Premises with a reasonable reduction in rent from the date of such partial destruction until there be again premises substantially similar in value to Tenant as the Leased Premises partially destroyed. Landlord's obligation to repair or restore the Leased Premises are stated herein as conditioned upon (a) all insurance proceeds and award for the Leased Premises being paid to Landlord, which are sufficient to cover the cost of said repairs and restorations, and (b) there remaining at least twenty four (24) months in the then existing term of this Lease. If Landlord does not repair the Leased Premises because either conditions (a) or (b) are not met, Landlord shall notify Tenant and this Lease shall terminate as of the date of such partial destruction and Tenant shall be liable for rent only to the date of such partial destruction.
Destruction of Leased Premises. SECTION 11.01: In the event the leased premises shall be partially or totally destroyed by fire or other casualty insured under the insurance carried by Lessor pursuant to Section 10.02 of this Lease, as to become partially or totally untenantable, the damage to the leased premises shall promptly be repaired by Lessor, to the extent of any proceeds received from such insurance, unless Lessor shall elect not to rebuild as hereinafter provided, and a just and proportionate part of the fixed minimum rental and all other charges shall be abated, annually until so repaired. In no event shall Lessor be required to repair or replace Lessee's merchandise, trade fixtures, furnishings, or equipment. If more than thirty-five percent (35%) of the leased premises or more than thirty-five percent (35%) of the floor area of the: building in which the leased premises are located shall be destroyed by fire or other casualty, then Lessor may elect whether to repair or rebuild the leased premises or the building of which the leased premises are a part, as the case may be, or to terminate this Lease by giving written notice to Lessee of it election to so terminate, such notice to be given within thirty (30) days after the occurrence of such damage or destruction. If less than 35% of the leased premises is destroyed by fire or other casualty, the rent shall be abated by the percentage of the leased space which is unusable until restored by Lessor. In the event of total or partial destruction while repairs are being made, Lessee must be able to operate his business and derive benefit from the use of the remaining space. Notwithstanding the foregoing, if the restoration work cannot be accomplished is Sixty (60) days Lessee shall have the option to terminate the Lease upon notice to Lessor. If any restoration work is not completed within Sixty (60) days Lessee shall have the further option of terminating the Lease. No rent will be due and payable during any period in which the leased premises are being restored by Lessor.
Destruction of Leased Premises. Should the Leased Premises be destroyed or damaged, the Lessor shall state its intention to the Lessee by way of written notice transmitted to the Lessee within thirty ( 30 ) days of the loss, to the effect that the Leased Premises are:
Destruction of Leased Premises. 23 Section 9.1.
Destruction of Leased Premises. If the Building is damaged or partially destroyed by fire or other casualty to the extent of less than one-quarter (1/4) of the then cost of replacement thereof above foundation, the same shall be repaired as quickly as is practicable, by Landlord, except that the obligation of Landlord to rebuild shall be limited to repairing or rebuilding of Landlord's improvements. If the Building is so destroyed or damaged to the extent of one-quarter (1/4) or more of the then replacement cost thereof, then Landlord may elect not to repair or rebuild by giving notice in writing terminating this Lease, in which event this Lease shall be terminated as of the date of such notice.
Destruction of Leased Premises. In the event improvements on the LEASED PREMISES are partially damaged by any casualty which is covered under an insurance policy required to be maintained pursuant to the provisions of this lease, then LANDLORD shall repair such damage as soon as reasonably possible from insurance proceeds, in which event this lease shall continue in full force and effect. TENANT shall have no claim against LANDLORD for any damage suffered by reason of such damage, destruction, repair or restoration and there shall be an abatement of rent only for the time period and for the actual space rendered unusable during such repairs. If the LEASED PREMISES are totally destroyed during the term of this lease from any cause whether or not covered by insurance, this lease may automatically terminate as of the date of such total destruction, at the option of the LANDLORD or the TENANT.
Destruction of Leased Premises. In the event of a partial destruction of the building in which the Leased Premises are contained, during the term, Landlord shall make any repairs that can be made under existing governmental regulations within one hundred twenty (120) days of such destruction, but such partial destruction shall not terminate this Lease, except that Tenant shall be entitled to a proportionate reduction of rent while repairs are being made, based upon the extent to which the making of such repairs shall interfere with the business of Tenant on the Leased Premises. If repairs cannot be made within one hundred twenty (120) days, this Lease may be terminated, at the option of either party, by delivering written notice.
Destruction of Leased Premises. If the leased premises are substantially destroyed or damaged such that Lessee is no longer able to reasonably utilize the leased premises for their intended purpose, then either party may terminate this Lease by giving written notice to the other.
Destruction of Leased Premises. In the event the Leased Premises are ------------------------------ damaged or destroyed by any hazard not covered by insurance and Landlord exercises its option to cancel the Lease, rent shall be reduced pro-rata in proportion to the decrease in usefulness of the Leased Premises from the date of the damage to the date of termination of the Lease. Subparagraph (b) of Paragraph 15(A) shall be deleted in its entirety.
