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, 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 at least ninety percent (90%) of the space is useable by Tenant, Landlord shall, within a reasonable time, repair the Leased Premises with a prorata reduction in rent from the date of such partial destruction until the repairs are completed. Damage or destruction by fire or other casualty covered by insurance, which cannot be repaired or restored within 30 days of the date of such destruction, shall be deemed totally destroyed and the Lease shall be deemed to have terminated on 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. 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. Notwithstanding the foregoing, if such damage is the result of the act or omission of the Tenant or Tenant’s employee, agent or invitee, and such damage is not covered by insurance, then Landlord at its option may repair or restore the Leased Premises, the cost of which shall be paid for by Tenant in installments or in whole upon notice thereof being given to Tenant by Landlord

Destruction of Leased Premises. (A) If In the event the Leased Premises are damaged shall be partially or totally destroyed by fire or other casualtyinsured casualty as to become partially or totally untenantable, 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 damage to the date of such destruction and awards for the Leased Premises shall belong be promptly repaired by Landlord and rent shall be abated proportionately during the period of restoration, unless Landlord shall elect not to rebuild as hereinafter provided. In the event (i) that Landlord should fail to complete such repairs and be payable rebuilding within one hundred eighty (180) days after the date upon which the casualty occurs or (ii) Landlord’s reasonable, good-faith estimate of the 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 rights and obligations hereunder shall cease and terminate. In no event shall Landlord be required to repair or (2) if only partially destroyed replace Tenant’s betterments and at least ninety percent (90%) of the space is useable by Tenantimprovements or trade fixtures, furnishings or equipment. If, however, Landlord shall, within a reasonable time, repair the Leased Premises with a prorata reduction in rent from the date of such partial destruction until the repairs are completed. Damage or destruction by fire or other casualty covered by insurance, which candecides not be repaired or restored within 30 days of the date of such destruction, shall be deemed totally destroyed and the Lease shall be deemed to have terminated on 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. Landlord's obligation to repair or restore the Leased Premises are stated herein or the Building, as conditioned upon the case may be, then Landlord or Tenant may elect to terminate this Lease by giving written notice to the other party of its election to so terminate, such notice to be given within ninety (a90) all insurance proceeds and award for days after the occurrence of such damage or destruction. If Landlord is required or elects to repair or rebuild 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 metas herein provided, Landlord shall notify Tenant initiate the work with reasonable dispatch and this Lease shall terminate as of diligently proceed to complete the date of such partial destruction same, and Tenant shall be liable for rent only to the date of such partial destruction. Notwithstanding the foregoing, if such damage is the result of the act or omission of the Tenant or Tenant’s employee, agent or invitee, and such damage is not covered by insurance, then Landlord at its option may repair or restore the Leased Premisesreplace its trade fixtures, the cost of which shall be paid for by Tenant furnishings and equipment in installments a manner and to at least a condition equal to that prior to its damage or in whole upon notice thereof being given to Tenant by Landlorddestruction.

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 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, 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 (A35%) If percent of the Leased Premises or more than thirty-five (35%) of the floor area of the Building in which the Leased Premises are damaged or located shall be destroyed by fire or other casualty, then (1) if totally destroyed Lessor may elect either to repair or so that rebuild the Leased Premises or the Building of which the Leased Premises are rendered unleaseablea part, as the case may be, or to terminate this Lease shall terminate as by giving written notice to Lessee of its election to so terminate, such notice to be given within sixty (60) days after the date occurrence 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; damage or (2) if only partially destroyed and at least ninety percent (90%) of the space is useable by Tenant, Landlord shall, within a reasonable time, repair the Leased Premises with a prorata reduction in rent from the date of such partial destruction until the repairs are completed. Damage or destruction by fire or other casualty covered by insurance, which cannot be repaired or restored within 30 days of the date of such destruction, shall be deemed totally destroyed and the Lease shall be deemed to have terminated on 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. 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 Lessor elects to the date of such partial destruction. Notwithstanding the foregoing, if such damage is the result of the act or omission of the Tenant or Tenant’s employee, agent or invitee, and such damage is not covered by insurance, then Landlord at its option may repair or restore the Leased Premises, Lessor shall do so within one hundred eighty (180) days after giving notice to Lessee of such election. If Lessor fails to tender possession to Lessee after the cost one hundred eighty (160) days, Lessee shall have the option of which terminating this Lease by sending notice on the one hundred eightieth (180th) day to Lessor. Such notice shall be paid for by Tenant in installments or in whole upon notice thereof being given inform Lessor of Lessee's election to Tenant by Landlordterminate.

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 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, 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 (A35%) If percent of the Leased Premises or more than thirty-five (35%) of the floor area of the Building in which the Leased Premises are damaged or located shall be destroyed by fire or other casualty, then (1) if totally destroyed lessor may elect either to repair or so that rebuild the Leased Premises or the Building of which the Leased Premises are rendered unleaseablea part, as the case may be, or to terminate this Lease shall terminate as by giving written notice to Lessee of its election to so terminate, such notice to be given within sixty (60) days after the date occurrence 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; damage or (2) if only partially destroyed and at least ninety percent (90%) of the space is useable by Tenant, Landlord shall, within a reasonable time, repair the Leased Premises with a prorata reduction in rent from the date of such partial destruction until the repairs are completed. Damage or destruction by fire or other casualty covered by insurance, which cannot be repaired or restored within 30 days of the date of such destruction, shall be deemed totally destroyed and the Lease shall be deemed to have terminated on 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. 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 Lessor elects to the date of such partial destruction. Notwithstanding the foregoing, if such damage is the result of the act or omission of the Tenant or Tenant’s employee, agent or invitee, and such damage is not covered by insurance, then Landlord at its option may repair or restore the Leased Premises, Lessor shall do so within one hundred eighty (180) days after giving notice to Lessee of such election. If Lessor fails to tender possession to Lessee after the cost one hundred eighty (180) days, Lessee shall have the option of which terminating this Lease by sending notice on the one hundred eightieth (180th) day to Lessor. Such notice shall be paid for by Tenant in installments or in whole upon notice thereof being given inform Lessor of Lessee's election to Tenant by Landlordterminate.

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 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, 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 (A35%) If percent of the Leased Premises or more than thirty-five (35%) of the floor area of the Building in which the Leased Premises are damaged or located shall be destroyed by fire or other casualty, then (1) if totally destroyed Lessor may elect either to repair or so that rebuild the Leased Premises or the Building of which the Leased Premises are rendered unleaseablea part, as the case may be, or to terminate this Lease shall terminate as by giving written notice to Lessee of its election to so terminate, such notice to be given within sixty (60) days after the date occurrence 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; damage or (2) if only partially destroyed and at least ninety percent (90%) of the space is useable by Tenant, Landlord shall, within a reasonable time, repair the Leased Premises with a prorata reduction in rent from the date of such partial destruction until the repairs are completed. Damage or destruction by fire or other casualty covered by insurance, which cannot be repaired or restored within 30 days of the date of such destruction, shall be deemed totally destroyed and the Lease shall be deemed to have terminated on 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. 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 Lessor elects to the date of such partial destruction. Notwithstanding the foregoing, if such damage is the result of the act or omission of the Tenant or Tenant’s employee, agent or invitee, and such damage is not covered by insurance, then Landlord at its option may repair or restore the Leased Premises, Lessor shall do so within one hundred eighty (180) days after giving notice to Lessee of such election. If Lessor fails to tender possession to Lessee after the cost one hundred eighty (180) days, Lessee shall have the option of which terminating this Lease by sending notice on the one hundred eightieth (180th) day to Lessor. Such notice shall be paid for by Tenant in installments or in whole upon notice thereof being given inform Lessor of Lessee's election to Tenant by Landlordterminate.