Common use of Destruction of Leased Premises Clause in Contracts

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. SECTION Section 11.01: In the event the leased premises 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 Leased Premises shall promptly be repaired by Lessor, to the extent of any proceeds received from such any 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 annually, until so repaired. The obligation of Lessor hereunder shall be limited to reconstruction of the Leased Premises in accordance with the initial plans and specifications for the construction of the Leased Premises. In no event shall Lessor be required to repair or replace Lessee's merchandise, trade fixtures, furnishings, or equipment. equipment If more than thirty-five percent (35%) percent of the leased premises Leased Premises or more than thirty-five percent (35%) of the floor area of the: building the Building in which the leased premises Leased Premises are located shall be destroyed by fire or other casualty, then Lessor may elect whether either to repair or rebuild the leased premises Leased Premises or the building Building of which the leased premises Leased Premises are a part, as the case may be, or to terminate this Lease by giving written notice to Lessee of it its election to so terminate, such notice to be given within thirty sixty (3060) days after the occurrence of such damage or destruction. If less than 35% of Lessor elects to restore the leased premises is destroyed by fire or other casualtyLeased Premises, the rent Lessor 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 do so within one hundred eighty (60180) days after giving notice to Lessee of such election. If Lessor fails to tender possession to Lessee after the one hundred eighty (160) days, Lessee shall have the option to terminate of terminating this Lease by sending notice on the Lease upon notice one hundred eightieth (180th) day to Lessor. If any restoration work is not completed within Sixty (60) days Lessee Such notice shall have the further option inform Lessor of terminating the Lease. No rent will be due and payable during any period in which the leased premises are being restored by LessorLessee's election to terminate.

Destruction of Leased Premises. SECTION 11.01: In the event the leased premises Leased Premises shall be partially or totally destroyed by fire or other insured 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 Leased Premises shall be promptly be repaired by Lessor, to Landlord and rent shall be abated proportionately during the extent period of any proceeds received from such insurancerestoration, unless Lessor Landlord shall elect not to rebuild as hereinafter provided. In the event (i) that Landlord should fail to complete such repairs and rebuilding within one hundred eighty (180) days after the date upon which the casualty occurs or (ii) Landlord’s reasonable, and a just and proportionate part good-faith estimate of the fixed minimum rental time in which it will take to complete such repairs and rebuilding exceeds one hundred eighty (180) days, Tenant may at its option terminate this Lease by delivering written notice of termination to Landlord, whereupon all other charges rights and obligations hereunder shall be abated, annually until so repairedcease and terminate. In no event shall Lessor Landlord be required to repair or replace Lessee's merchandise, Tenant’s betterments and improvements or trade fixtures, furnishings, 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 casualtyIf, then Lessor may elect whether however, Landlord decides not to repair or rebuild restore the leased premises Leased Premises or the building of which the leased premises are a partBuilding, as the case may be, then Landlord or Tenant may elect to terminate this Lease by giving written notice to Lessee the other party of it its election to so terminate, such notice to be given within thirty ninety (3090) days after the occurrence of such damage or destruction. If less than 35% of Landlord is required or elects to repair or rebuild the leased premises is destroyed by fire Leased Premises as herein provided, Landlord shall initiate the work with reasonable dispatch and diligently proceed to complete the same, and Tenant shall repair or other casualtyreplace its trade fixtures, the rent shall be abated by the percentage of the leased space which is unusable until restored by Lessor. In the event of total furnishings and equipment in a manner and to at least a condition equal to that prior to its damage 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 Lessordestruction.

Destruction of Leased Premises. SECTION 11.0115.01: In Destruction of the Leased Premises and Site. If the premises shall be damaged or destroyed in whole or in part by fire, the elements, unavoidable accident or other casualty, Landlord shall have the right to terminate this lease by giving tenant written notice of its election to do so within sixty (60) days after the date on which the damage occurs, whereupon this lease shall terminate as o the date of which the damage occurs, and the rent shall be adjusted as of said date; but in default of such notice by Landlord, this lease shall continue and Landlord shall cause the premises to be repaired or restored with due diligence. Except in the event of termination of this lease as aforesaid, the minimum rent shall be abated to the extent of the fair rental value of such portion, if any, of the premises as shall be rendered unfit for occupancy for the usual conduct of Tenant’s business in consequences of the damage aforesaid for the period of such unfitness for occupancy. Notwithstanding anything in the above paragraph or elsewhere in this lease to the contrary, if the leased premises shall be partially damaged in whole or totally in part due to any negligent act or omission of Tenant or failure by Tenant to observe the terms, conditions and covenants of this lease, then Landlord shall be under no obligation to repair or restore the premises, and such act, omission or failure of Tenant shall constitute an event of default under Section 20.01 of this lease, entitling Landlord to all rights and remedies reserved to Landlord under this lease in addition to all rights and remedies granted Landlord under the laws of the State of Alabama. In the event that fifty (50%) per cent or more of the rentable area of the Site shall be damaged or destroyed by fire or other casualty insured under the insurance carried by Lessor pursuant to Section 10.02 of this Leasecause, as to become partially or totally untenantable, the damage to notwithstanding that the leased premises shall promptly may be repaired unaffected 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 casualtycause, then Lessor Landlord 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 lease and the tenancy hereby created by giving to Tenant five (5) days prior 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 given, it at all, within 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 sixty (60) days Lessee following the date of said occurrence. Rent shall have be adjusted as of 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 date of terminating the Lease. No rent will be due and payable during any period in which the leased premises are being restored by Lessorsuch termination.

Destruction of Leased Premises. SECTION Section 11.01: In the event the leased premises 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 Leased Premises shall promptly be repaired by Lessor, to the extent of any proceeds received from such any 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 annually, until so repaired. The obligation of Lessor hereunder shall be limited to reconstruction of the Leased Premises in accordance with the initial plans and specifications for the construction of the Leased Premises. 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%) percent of the leased premises Leased Premises or more than thirty-five percent (35%) of the floor area of the: building the Building in which the leased premises Leased Premises are located shall be destroyed by fire or other casualty, then Lessor may elect whether either to repair or rebuild the leased premises Leased Premises or the building Building of which the leased premises Leased Premises are a part, as the case may be, or to terminate this Lease by giving written notice to Lessee of it its election to so terminate, such notice to be given within thirty sixty (3060) days after the occurrence of such damage or destruction. If less than 35% of Lessor elects to restore the leased premises is destroyed by fire or other casualtyLeased Premises, the rent Lessor 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 do so within one hundred eighty (60180) days after giving notice to Lessee of such election. If Lessor fails to tender possession to Lessee after the one hundred eighty (180) days, Lessee shall have the option to terminate of terminating this Lease by sending notice on the Lease upon notice one hundred eightieth (180th) day to Lessor. If any restoration work is not completed within Sixty (60) days Lessee Such notice shall have the further option inform Lessor of terminating the Lease. No rent will be due and payable during any period in which the leased premises are being restored by LessorLessee's election to terminate.

Destruction of Leased Premises. SECTION 11.01: In the event the leased premises Leased Premises shall be partially or totally destroyed by fire or other insured 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 Leased Premises shall be 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 abated until so repairedsuch repairs are substantially completed. In no event shall Lessor be required to repair or replace Lessee's merchandise, betterment and improvements or trade fixtures, furnishings, furnishings or equipment. equipment If more than thirtyTwenty-five percent Five Percent (35%) of the leased premises or more than thirty-five percent (3525%) of the floor area of the: building in which the leased premises are located Leased Premises or of the floor area of the Industrial Facility shall be damaged or destroyed by fire or other casualty, then Lessor may elect whether to either repair or rebuild the leased premises Leased Premises or the building of which the leased premises are a partIndustrial Facility, as the case may be, be or to terminate this Lease by giving written notice to Lessee of it its election to so terminate, such notice to be given within thirty ninety (3090) days after the occurrence of such damage or destruction. If less than 35% of lessor is required or elects to repair or rebuild the leased premises is destroyed by fire or other casualtyLeased Premises as herein provided, the work shall be initiated with reasonable dispatch and diligently proceeded with to completion and Lessee shall repair or replace its trade fixtures, furnishings and equipment in a manner and to at least a condition equal to that prior to its damage or destruction. 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 xxxxx during construction from the use date of the remaining space. Notwithstanding the foregoing, if the restoration work cannot be accomplished is Sixty (60) days Lessee shall have the option damage destruction 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 Lessorsubstantial completion.

Destruction of Leased Premises. SECTION Section 11.01: In the event the leased premises 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 Leased Premises shall promptly be repaired by Lessor, to the extent of any proceeds received from such any 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 annually, until so repaired. The obligation of Lessor hereunder shall be limited to reconstruction of the Leased Premises in accordance with the initial plans and specifications for the construction of the Leased Premises. 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%) percent of the leased premises Leased Premises or more than thirty-five percent (35%) of the floor area of the: building the Building in which the leased premises Leased Premises are located shall be destroyed by fire or other casualty, then Lessor lessor may elect whether either to repair or rebuild the leased premises Leased Premises or the building Building of which the leased premises Leased Premises are a part, as the case may be, or to terminate this Lease by giving written notice to Lessee of it its election to so terminate, such notice to be given within thirty sixty (3060) days after the occurrence of such damage or destruction. If less than 35% of Lessor elects to restore the leased premises is destroyed by fire or other casualtyLeased Premises, the rent Lessor 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 do so within one hundred eighty (60180) days after giving notice to Lessee of such election. If Lessor fails to tender possession to Lessee after the one hundred eighty (180) days, Lessee shall have the option to terminate of terminating this Lease by sending notice on the Lease upon notice one hundred eightieth (180th) day to Lessor. If any restoration work is not completed within Sixty (60) days Lessee Such notice shall have the further option inform Lessor of terminating the Lease. No rent will be due and payable during any period in which the leased premises are being restored by LessorLessee's election to terminate.

Destruction of Leased Premises. SECTION 11.01: In the event the leased premises shall be partially building or totally improvements on the Leased Premises are damaged or destroyed in whole or in part by fire or any other casualty insured under cause whatsoever during the insurance carried by Lessor pursuant to Section 10.02 term of this Lease, this Lease shall continue in full force and effect without any abatement in rent, taxes, charges, assessments or other obligations of Tenant referred to in this Lease, and Tenant shall, at its own cost and expense, with all reasonable dispatch and diligence, rebuild, restore and/or repair the building or improvements as aforesaid to become partially a condition equal or totally untenantablegreater in value to that just prior to said damage or destruction in accordance with plans and specifications to be approved in writing by Landlord prior to commencement of said rebuilding, restoration and/or repair. Tenant shall complete said rebuilding, restoration and/or repair of 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 building or improvements as aforesaid within a period not to rebuild as hereinafter provided, and a just and proportionate part exceed six (6) months from the date 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 said 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 subject to extension in the event of total delays beyond the control of Tenant arising from acts of God, general labor strikes, the acts of Landlord or partial destruction while other contingencies which could not be anticipated or provided for by Tenant. For the purpose of making such repairs are being madeand restorations, Lessee must Landlord agrees that the proceeds of insurance maintained under Article V, Paragraph 1 above and any additional proceeds received by Landlord, subject to the rights of Mortgagee, if any, may be able to operate his business and derive benefit from the use used on account of the remaining space. Notwithstanding the foregoingpayment therefor in accordance with pay-out procedures established by Landlord or Mortgagee, if the any, to insure that there are sufficient funds available for such repairs and 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 and that such work is done in a good and workmanlike manner in accordance with the plans and specifications approved by Landlord and free from any liens for services, materials or supplies. Tenant's obligation to rebuild, restore and/or repair shall be absolute whether or not completed within Sixty (60) days Lessee the insurance proceeds available therefor shall have be sufficient to defray 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 Lessorentire cost thereof.