Common use of Destruction of Leased Premises Clause in Contracts

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 and still leasable, 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 nor 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. (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 and an still leasableleaseable, 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 nor 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. (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 and still leasableleaseable, 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 nor 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. (A) If the Leased Premises are destroyed or damaged or destroyed by fire or other casualty covered by insuranceperils to such an extent that they cannot be repaired and restored within one hundred twenty (120) days, Landlord shall have the option to terminate this Lease; otherwise Landlord shall forthwith and with due diligence, immediately following receipt of proceeds of applicable insurance policy(ies), repair and restore said building and Premises to substantially their condition immediately prior to such damage or destruction. Xxxxxx's Minimum Rent and other charges during the period of such repair and restoration shall not xxxxx and Tenant shall promptly pay all amounts coming due hereunder If the damage or destruction referred to in the preceding paragraph amounts to at least 25% of the Premises and occurs during the last year of the term of this Lease, then (1) if totally destroyed or so that Landlord and Tenant shall each have the Leased Premises are rendered unleaseableoption, at the election of either of them, to terminate this Lease shall terminate effective as of the date of such destruction damage or destruction, and Tenant any unearned rents paid in advance shall be liable for refunded. If this Lease shall not be terminated as provided in this paragraph, the rent only to the date of such destruction and awards for the Leased Premises shall belong to be repaired and be payable to Landlord; restored as hereinabove provided. In the event Landlord is either obligated or (2) if only partially destroyed and still leasable, 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 elects to repair or and restore the Leased Premises are stated herein as conditioned upon (a) all insurance proceeds building 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 nor metPremises, Landlord shall notify Tenant and this Lease shall terminate as of have the date of immediate right to enter the Premises for such partial destruction and Tenant shall be liable for rent only to the date of such partial destructionpurpose.

Destruction of Leased Premises. (Aa) If the Building is at any time destroyed or damaged, (including smoke damage) as a result of fire, the elements, accident or other casualty required to be insured against by the Landlord pursuant to Section 9.05 hereof or otherwise insured against by the Landlord and not caused by the Tenant, and if as a result of such occurrence: (i) the Leased Premises are damaged rendered unable only in part, this Lease shall continue in full force and effect and the Landlord shall, subject to Section 11.02 (a) hereof, commence diligently to reconstruct, rebuild or destroyed by fire or other casualty covered by insurance, then (1) if totally destroyed or so repair the Leased Premises to the extent that the Leased Premises are put back in the same condition as they were upon completion of the Landlord's Work set out in Schedule "C", and only Rent shall xxxxx proportionately to the portion of the Leased Premises rendered unleaseable, this Lease shall terminate as of unable to be occupied from the date of such the destruction and Tenant shall be liable for the rent only or damage to the date of such destruction and awards for the Leased Premises shall belong have been restored. (ii) the Leased Premises are rendered wholly unable to and be payable to Landlord; or (2) if only partially destroyed and still leasableoccupied, the Landlord shall, within a reasonable timesubject to Section 11.02 (a) hereof, commence diligently to reconstruct, rebuild or repair the Leased Premises with a reasonable reduction to the extent that the Leased Premises are put back in the same condition as they were upon completion of the Landlord's work as set out in Schedule "C", and only gross rent shall xxxxx entirely from the date of such partial the destruction until there be again premises substantially similar in value or damage to Tenant as the date 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 nor 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 destructionhave been restored.

Destruction of Leased Premises. (A) If 10.01 Landlord agrees, subject to and excepting the other provisions of this Article, that if the Leased Premises are shall be damaged or destroyed by fire or other casualty covered during the term of this lease, Landlord shall, at Landlord's own expense, use best efforts to cause the damage to be promptly repaired within a reasonable time after such damage has occurred, which period shall not exceed six months. If by insurancereason of such occurrence, then (1) if totally destroyed or so that any portion of the Leased Premises are is thereby rendered unleaseable, this Lease shall terminate as of the date of such destruction untenantable for Tenant's business and Tenant ceases use of said portion (provided, that, Tenant shall not be liable required to remove any items of personal property from the damaged area unless required to do so for purposes of Landlord's repairs or replacement and the rent only to presence of Tenant's personal property in the date damaged portion of such destruction and awards for the Leased Premises shall belong not constitute "use" within the meaning of this Section), the rent and other charges payable by Tenant hereunder shall be abated in proportion to and be payable to Landlord; or (2) if only partially destroyed and still leasable, Landlord shall, within a reasonable time, repair the area of the Leased Premises with a reasonable reduction in rent from which is rendered untenantable and which is not used by Tenant, said abatement to continue until the date sooner of such partial destruction until there be again premises substantially similar in value to Tenant as the time when the Leased Premises partially destroyedis repaired or until Tenant uses the damaged portion of the Leased Premises. Landlord's obligation to repair or restore under this Article shall be limited to the Leased Premises are stated herein as conditioned upon (a) all extent of insurance proceeds and award for made available by any mortgagee having control over 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 nor met, Landlord shall notify Tenant and this Lease shall terminate as of the date disposition of such partial destruction and Tenant shall be liable for rent only to the date of such partial destructionproceeds.