Common use of DESTRUCTION OF OR DAMAGE TO LEASED PREMISES Clause in Contracts

DESTRUCTION OF OR DAMAGE TO LEASED PREMISES. In the event the Leased Premises are damaged by fire, the elements or acts of God, to such extent that they are rendered wholly untenantable by Lessee, and in the event Lessor elects not to rebuild the Leased Premises, or repair them as they existed prior to the damage, or in some other manner satisfactory to Lessee, then Lessor shall, within sixty (60) days of the date the damage occurred, notify Lessee in writing of such election. This lease shall be canceled as of the date the damage occurred and Lessor may keep the insurance proceeds. In the event the Leased Premises are wholly untenable for a period of sixty (60) days or more and in the event Lessor elects to rebuild or repair the Leased Premises as they existed prior to the damage, or in some other manner satisfactory to Lessee, then, unless Lessee notifies Lessor in writing within said sixty-(60) day period that the Lease is cancelled, Lessor shall commence such rebuilding or repairing within a reasonable time of such damage and shall continue and complete such rebuilding or repairing as promptly as possible, and upon completion of such rebuilding or repairing, this Lease shall be reinstated in all of its terms, and the rent shall abatx xxxm the date the damage occurred. Should the Leased Premises be destroyed, to an amount over twenty-five percent (25%) of the value of the buildings located on the Leased Premises by fire, the elements, or acts of God, this Lease may within sixty (60) days of the date of damage and upon written notice be terminated by Lessor or Lessee without further obligation. In the event Lessor or Lessee does not terminate this Lease, then Lessee shall continue to occupy the portion of the Leased Premises which is tenantable. The rent shall abatx xxxportionately to that portion of the Leased Premises unoccupied, and Lessor shall promptly commence and complete repairs to the portion damaged, and upon completion of such repairing, this lease shall be reinstated in all of its terms.

DESTRUCTION OF OR DAMAGE TO LEASED PREMISES. In 14.1 If the event Building is substantially damaged or destroyed by fire or other casualty. Landlord may at its option either (i) cause the Leased Premises are damaged by fire, damage to be repaired at Landlord’s cost and expense (provided that the elements foregoing shall not limit Landlord’s rights to receive and/or use insurance proceeds) or acts of God, to such extent that they are rendered wholly untenantable by Lessee, and in the event Lessor elects not to rebuild the Leased Premises, or repair them as they existed prior to the damage, or in some other manner satisfactory to Lessee, then Lessor shall, (ii) terminate this Lease. Landlord shall notify Tenant (“LL Election Notice”) within sixty (60) days after any such damage or destruction as to whether it has elected to repair the Building or to terminate this Lease. If Landlord elects to repair the damage, then the Minimum Rent shall be equitably abated in proportion to the untenantability of the date Leased Premises from the damage occurred, notify Lessee in writing of time such election. This lease shall be canceled portion is rendered untenantable until such time as such portion of the date Leased Premises is made tenantable. The term “substantial damage” as used in this Section 14.1 shall mean damage to the damage occurred Building which renders more than twenty-five (25) percent of the Building untenantable and Lessor may keep the insurance proceedsit will require more than two hundred ten (210) days to restore. In the event that Landlord exercises its right to restore the Leased Premises are wholly untenable for a period in accordance with the terms of this Lease and notifies Tenant within the sixty (60) days provided above, then Landlord shall have two hundred ten (210) days from the date of said damage or more and in destruction during which to substantially complete said reconstruction subject to reasonable delays for matters beyond Landlord’s commercially reasonable control. 14.2 If any portion of the event Lessor elects Building is damaged or destroyed by fire or casualty such that available insurance proceeds plus Fifty Thousand Dollars ($50,000) totals less than the amount of money which would be necessary to rebuild or repair restore the Leased Premises as they existed prior Building, then Landlord shall have the right to the damage, or in some other manner satisfactory to Lessee, then, unless Lessee notifies Lessor in writing within said sixty-(60) day period that the Lease is cancelled, Lessor shall commence such rebuilding or repairing within a reasonable time of such damage and shall continue and complete such rebuilding or repairing as promptly as possible, and upon completion of such rebuilding or repairing, terminate this Lease shall be reinstated in all of its terms, and the rent shall abatx xxxm the date the damage occurred. Should the Leased Premises be destroyed, to an amount over twenty-five percent by giving Tenant notice (25%“LL Termination Notice”) of the value of the buildings located on the Leased Premises by fire, the elements, or acts of God, this Lease may within sixty (60) days of the date of such damage or destruction in which event this Lease shall be deemed terminated effective on the earlier of (i) the date set forth in such notice provided that such date shall not be earlier than one hundred twenty (120) days from the date of such notice or (ii) the date of the destruction in the event that the Leased Premises are rendered wholly untenantable by virtue of said destruction. 14.3 If the damage or destruction occurs within the last year of the Term of this Lease and renders the Leased Premises wholly untenantable, then either Landlord or Tenant shall have the right to terminate the Lease within thirty (30) days after such damage or destruction by delivering notice to the other party. 14.4 Tenant shall have the right to terminate this Lease upon written notice to Landlord given no later than sixty (60) days after the expiration of the following events: (i) if Landlord fails to provide the LL Election Notice or LL Termination Notice within sixty (60) days after any damage or destruction, or (ii) if Landlord elects to repair under Section 14.1 above and does not substantially complete the reconstruction of the Premises within two hundred ten (210) days from the date of such damage or destruction subject to reasonable delays for matters beyond Landlord’s commercially reasonable control (provided that such written notice of termination is received by Landlord prior to substantial completion of such reconstruction) of (iii) if it is not reasonably feasible to repair such damage within two hundred ten (210) days, as evaluated from the date of such damage by Tenant and Landlord. 14.5 Landlord shall not be terminated liable for delays occasioned by Lessor adjustment of losses with insurance carriers or Lessee without further obligationby any other cause so long as Landlord shall proceed in good faith. Any abatements in Minimum Rent and Additional Rent shall cease when Landlord delivers to Tenant the Leased Premises (or any damaged portion thereof) substantially in the same or better condition (reasonable wear and tear excepted) as they were in at the Rent Commencement Date of this Lease. 14.6 In the event Lessor or Lessee does not terminate of termination pursuant to this LeaseSection 14, then Lessee shall continue to occupy the portion of the Leased Premises which is tenantable. The rent shall abatx xxxportionately to that portion of the Leased Premises unoccupied, and Lessor shall promptly commence and complete repairs to the portion damaged, and upon completion of such repairing, this lease no termination fees shall be reinstated in all of its termspaid by Tenant.

DESTRUCTION OF OR DAMAGE TO LEASED PREMISES. In case the event Leased Premises or the Building in which the Leased Premises are situated shall be partially or totally destroyed by fire or other peril required to be insured by the policies of insurance required to be carried by Landlord and Tenant pursuant to Article VII "Insurance" hereof so as to become --------- partially or totally untenantable, the same shall be repaired as speedily as possible at the sole cost and expense of Landlord, to the extent of insurance proceeds available, unless: (i) Landlord or Tenant shall elect to terminate this Lease as provided below; or (ii) the remainder of the Lease Term at the time of such damage or destruction is less than 24 months, in which event Landlord shall not be required to rebuild if Tenant fails to exercise (within thirty (30) days following notice from Landlord of demand to do so) the next option to extend the Lease Term which may be available, if any. In case the Leased Premises or the Building in which the Leased Premises are situated shall be destroyed or so damaged by firefire or other peril required to be insured by the policies of insurance required to be carried by Landlord and Tenant pursuant to Article VII "Insurance" hereof so as to render more than 33% --------- of the Leased Premises or 33% of the said Building untenantable, Landlord or Tenant may, at their respective election to be exercised in their respective sole and absolute discretions by notice given to the elements other not more than 30 days after the occurrence of the damage, terminate this Lease (provided, however, that such right to terminate shall not apply for Tenant's benefit to the extent such damage or acts destruction is the result of GodTenant's negligence). In the event neither Landlord or Tenant elects to so terminate, to then Landlord shall, as speedily as possible and at its sole cost and expense, repair, rebuild or restore any such extent that they are rendered wholly untenantable by Lesseedamage suffered in the Building or the Leased Premises as set forth above. The foregoing notwithstanding, and in the event Lessor elects Landlord is unable to complete such repair, rebuild or restoration, without regard to force majeure or fault on the part of Landlord, within one-hundred twenty (120) days following the date of such damage or destruction, then Tenant shall have the right, in its sole and absolute discretion, to terminate this Lease upon written notice to Landlord. In case of casualty to the Leased Premises resulting in damage or destruction which casualty is not insured against under the policies of insurance required to be carried by Landlord and Tenant pursuant to Article VII "Insurance" hereof, Landlord shall be under no obligation to restore, replace, --------- or rebuild the Leased Premises, and if such damage or repair them as they existed prior to the damage, or in some other manner satisfactory to Lesseedestruction is material, then Lessor shall, within sixty (60) days of the date the damage occurred, notify Lessee in writing of such election. This lease this Lease shall be canceled deemed terminated and of no further force or effect as of the date of such casualty, unless Landlord elects in its sole and absolute discretion to restore, repair, replace and rebuild the damage occurred Leased Premises and Lessor may keep the insurance proceedsso notifies Tenant in writing within thirty (30) days after such casualty. In the event Landlord so elects to restore, repair, replace and rebuild the Leased Premises are wholly untenable for a period of sixty Premises, then provided that such restoration, repair, replacement and rebuilding is completed within one-hundred twenty (60120) days or more and in following the event Lessor elects to rebuild or repair the Leased Premises as they existed prior to the damage, or in some other manner satisfactory to Lessee, then, unless Lessee notifies Lessor in writing within said sixty-(60) day period that the Lease is cancelled, Lessor shall commence such rebuilding or repairing within a reasonable time date of such damage and shall continue and complete such rebuilding or repairing as promptly as possible, and upon completion of such rebuilding or repairingdestruction, this Lease shall be reinstated continue in all full force and effect during the period of its termssuch restoration, and the rent shall abatx xxxm the date the damage occurred. Should the Leased Premises be destroyedrepairing, to an amount over twenty-five percent (25%) of the value of the buildings located on the Leased Premises by fire, the elements, replacing or acts of God, this Lease may within sixty (60) days of the date of damage and upon written notice be terminated by Lessor or Lessee without further obligationrebuilding. In the event Lessor Landlord is unable to complete such restoration, repair, replacement and rebuilding within one-hundred twenty (120) days following the date of such damage or Lessee does not destruction, then Tenant shall have the right, in its sole and absolute discretion, to terminate this LeaseLease upon written notice to Landlord. If such damage or destruction as described in this Article occurs, and this Lease is not so terminated by Landlord or Tenant as set forth above, then Lessee this Lease shall continue remain in full force and effect, and the parties waive the provisions of any law to occupy the portion contrary. Tenant shall, in the event of any such damage or destruction, unless the Lease shall be terminated as provided in this Article, forthwith replace or fully repair all exterior signs, trade fixtures, equipment, display cases and other installations originally installed by Tenant, to the extent of insurance proceeds available. Except as otherwise set forth herein, Landlord shall have no interest in the proceeds of any insurance carried by Tenant, and Tenant shall have no interest in the proceeds of any insurance carried by Landlord. In the event of any such casualty, Tenant's Minimum Rent and Additional Rent obligations under this Lease shall xxxxx in that same proportion as the number of rentable square feet rendered untenantable bears to the total number of rentable square feet in the Leased Premises. Tenant agrees during any period of reconstruction, restoration or repair of the Leased Premises which is tenantable. The rent shall abatx xxxportionately and/or of the Building to that portion continue the operation of its business in the Leased Premises unoccupied, and Lessor shall promptly commence and complete repairs to the portion damaged, and upon completion extent reasonably practicable from the standpoint of such repairing, this lease shall be reinstated in all of its termsgood business.

DESTRUCTION OF OR DAMAGE TO LEASED PREMISES. In If the event the entire Leased Premises are shall be damaged by fire, the elements or acts of God, to such extent that they are and rendered wholly untenantable by Lessee, and in the event Lessor elects not to rebuild the Leased Premisesreason of damage from fire or casualty, or repair them as they existed prior to if a portion thereof is so rendered untenantable that the damage, or in some other manner satisfactory to Lesseeentire undamaged portion is unsuitable for the continued conduct of Tenant’s business, then Lessor shallthis Lease may be terminated by either Landlord or Tenant, within sixty (60) days of the date the damage occurred, notify Lessee in writing of such election. This lease shall be canceled as of the date the damage occurred and Lessor may keep the insurance proceeds. In the event the Leased Premises are wholly untenable for a period of sixty (60) days or more and in the event Lessor elects to rebuild or repair the Leased Premises as they existed prior such damage, by written notice to the damage, or in some other manner satisfactory to Lessee, then, unless Lessee notifies Lessor in writing within said sixty-(60) day period that the Lease is cancelled, Lessor shall commence such rebuilding or repairing within a reasonable time of such damage and shall continue and complete such rebuilding or repairing as promptly as possible, and upon completion of such rebuilding or repairing, this Lease shall be reinstated in all of its terms, and the rent shall abatx xxxm the date the damage occurred. Should the Leased Premises be destroyed, to an amount over twentyforty-five percent (25%) of the value of the buildings located on the Leased Premises by fire, the elements, or acts of God, this Lease may within sixty (6045) days of the date of damage and upon written notice be terminated by Lessor or Lessee without further obligation. In the event Lessor or Lessee does such damage; provided, however, Tenant may not so terminate this Lease, then Lessee or any such termination shall continue not be effective, if Landlord, within forty-five (45) days of the date of damage, gives Tenant written notice of its intention to occupy promptly and fully restore the Leased Premises for use and occupancy by Tenant. If the Lease is not so terminated, a just proportion of the rent due hereunder shall be abated according to the nature and extent of the damage from the date of such damage until the Leased Premises shall have been restored to proper condition for use and occupancy. If a portion of the Leased Premises which is tenantable. The rent so damaged, but the remaining portion is suitable for the continued conduct of Tenant’s business, then Tenant shall abatx xxxportionately have no right to that terminate this Lease, but a just proportion of the rents due hereunder shall be abated according to the nature and extent of the damage from the date of such damage until the damaged portion of the Leased Premises unoccupied, shall have been restored to proper condition for use and Lessor shall promptly commence and complete repairs to the portion damaged, and upon completion of such repairing, this lease shall be reinstated in all of its termsoccupancy.

DESTRUCTION OF OR DAMAGE TO LEASED PREMISES. Section 1. In case the event Leased Premises or the Building in which the Leased Premises are situated shall be partially or totally destroyed by fire or other peril insurable under standard fire and extended coverage insurance so as to become partially or totally untenantable, the same shall be repaired as speedily as possible at the expense of the Landlord, to the extent of insurance proceeds available, unless Landlord shall elect not to rebuild as hereinafter provided; or, if the remainder of the Lease Term is less than twenty-four (24) months, Landlord shall not be required to rebuild if Tenant fails to exercise (within fifteen (15) days following notice from Landlord of demand to do so) the next option, if any, to extend the Lease Term which may be available, and if no such option is available, Landlord may terminate this Lease upon the date of the damage of destruction. Section 2. In case the Leased Premises or the Building in which the Leased Premises are situated shall be destroyed or so damaged by firefire or other peril insurable under standard fire and extended coverage insurance as to render more than thirty-three percent (33%) of the Leased Premises or thirty-three percent (33%) of the said Building untenantable, Landlord may, at its election to be exercised by notice given to Tenant not more than thirty (30) days after the elements occurrence of the damage, terminate this Lease, but if Landlord shall not so elect, Landlord shall, as promptly as may be reasonable, repair, rebuild or acts of God, to restore any such extent that they are rendered wholly untenantable by Lessee, and damage suffered in the event Lessor elects Leased Premises as in this Article provided; however, Landlord’s obligation shall be limited to restore the Leased Premises to a condition sufficient to enable Tenant to operate and use immediately preceding any such destruction or damage, but only to the extent allowed by available insurance proceeds. Section 3. In case of casualty to the Leased Premises resulting in damage or destruction which casualty is not insured against, Landlord shall be under no obligation to restore, replace, or rebuild the Leased Premises, or repair them as they existed prior to the damage, or in some other manner satisfactory to Lessee, then Lessor shall, within sixty (60) days of the date the damage occurred, notify Lessee in writing of such election. This lease and this Lease shall be canceled deemed terminated on the 30th day after such casualty and of no further force and effect as of the date the damage occurred of such casualty, unless Landlord elects to restore, repair, replace and Lessor may keep the insurance proceeds. In the event rebuild the Leased Premises are wholly untenable for a period of sixty (60) days or more and in the event Lessor elects to rebuild or repair the Leased Premises as they existed prior to the damage, or in some other manner satisfactory to Lessee, then, unless Lessee so notifies Lessor Tenant in writing within said sixty-(60thirty (30) day period days after such casualty; in that the Lease is cancelled, Lessor shall commence such rebuilding or repairing within a reasonable time of such damage and shall continue and complete such rebuilding or repairing as promptly as possible, and upon completion of such rebuilding or repairingevent, this Lease shall be reinstated continue in all full force and effect during the period of its termssuch restoration, replacing or rebuilding. Furthermore, if Landlord so elects to restore, repair, replace or rebuild the Leased Premises, Landlord shall proceed with reasonable diligence to do so and place the Leased Premises in substantially the same condition as of the date they are declared Ready of Occupancy. Section 4. If such damage or destruction as described in this Article occurs, and this Lease is not so terminated by Landlord, this Lease shall remain in full force and effect, and the rent parties waive the provisions of any law to the contrary. Tenant shall abatx xxxm in the date event of any such damage or destruction, unless the damage occurredLease shall be terminated as provided in this Article, forthwith replace or fully repair all exterior signs, trade fixtures, equipment, display cases and other installations originally installed by Tenant. Should Landlord shall have no interest in the proceeds of any insurance carried by Tenant, and Tenant shall have no interest in the proceeds of any insurance carried by Landlord. Tenant’s Minimum Rent shall xxxxx in that same proportion as the number of square feet rendered untenantable bears to the total number of square feet in the Leased Premises be destroyedPremises. Tenant agrees during any period of reconstruction, to an amount over twenty-five percent (25%) of the value of the buildings located on the Leased Premises by fire, the elements, restoration or acts of God, this Lease may within sixty (60) days of the date of damage and upon written notice be terminated by Lessor or Lessee without further obligation. In the event Lessor or Lessee does not terminate this Lease, then Lessee shall continue to occupy the portion repair of the Leased Premises which is tenantable. The rent shall abatx xxxportionately and/or of the Building to that portion continue the operation of its business in the Leased Premises unoccupied, and Lessor shall promptly commence and complete repairs to the portion damaged, and upon completion extent reasonably practicable from the standpoint of such repairing, this lease shall be reinstated in all of its termsgood business.

DESTRUCTION OF OR DAMAGE TO LEASED PREMISES. In 8.1 Should 8.1.1 the event the Leased Premises are leased premises be destroyed or damaged by fireany cause whatsoever to an extent which prevents the tenant from having beneficial occupation of the leased premises - 8.1.1.1 the tenant shall have no claim of any nature whatsoever against the landlord as a result thereof; 8.1.1.2 the landlord shall determine within 2 (two) weeks after such destruction or damage whether or not this lease should be cancelled and shall notify the tenant of its decision; 8.1.2 should this lease be cancelled or be deemed to be cancelled in terms of clause 8. 1.1.2 above, then the tenant shall have no claim of any nature whatsoever against the landlord as a result of that cancellation of the lease; 8.1.3 should the landlord elect not to cancel this lease, then - 8.1.3.1 the landlord shall reinstate, at its cost, the elements or acts of God, to such extent that they are rendered wholly untenantable by Lessee, and leased premises as quickly as possible in the event Lessor elects circumstances; 8.1.3.2 the tenant shall not to rebuild the Leased Premises, or repair them be liable for rent for so long as they existed prior to the damage, or in some other manner satisfactory to Lessee, then Lessor shall, within sixty (60) days it is deprived of beneficial occupation of the date leased premises; 8.1.3.3 should the damage occurred, notify Lessee in writing tenant be given beneficial occupation from time to time of such election. This lease shall be canceled as any part of the date leased premises then it shall make payment of the damage occurred and Lessor may keep rental therefor on a pro rata basis; 8.2 Should any part (but not the insurance proceeds. In the event the Leased Premises are wholly untenable for a period of sixty (60) days or more and in the event Lessor elects to rebuild or repair the Leased Premises as they existed prior to the damage, or in some other manner satisfactory to Lessee, then, unless Lessee notifies Lessor in writing within said sixty-(60) day period that the Lease is cancelled, Lessor shall commence such rebuilding or repairing within a reasonable time of such damage and shall continue and complete such rebuilding or repairing as promptly as possible, and upon completion of such rebuilding or repairing, this Lease shall be reinstated in all of its terms, and the rent shall abatx xxxm the date the damage occurred. Should the Leased Premises be destroyed, to an amount over twenty-five percent (25%whole) of the value leased premises thereof be destroyed or damaged by any cause whatsoever then - 8.2.1 this lease shall not be cancelled; 8.2.2 the rental payable by the tenant shall be reduced pro rata and to the extent to which it is deprived of the buildings located on the Leased Premises by fire, the elements, or acts beneficial occupation of God, this Lease may within sixty (60) days that part of the date of damage and upon written notice be terminated by Lessor leased premises; 8.2.3 the landlord shall repair at its cost the damaged or Lessee without further obligation. In the event Lessor or Lessee does not terminate this Lease, then Lessee shall continue to occupy the destroyed portion of the Leased Premises which leased premises as quickly as is tenantable. The rent possible in the circumstances; 8.2.4 the tenant shall abatx xxxportionately to that portion have no claim of any nature whatsoever against the landlord as a result of the Leased Premises unoccupiedsaid destruction or damage from whatsoever cause the same arises. 8.3 If any dispute should arise between the landlord and the tenant as to whether or not clause 8.1.1 or clause 8.2 applies in any actual event, and Lessor shall promptly commence and complete repairs to the portion damaged, and upon completion of such repairing, this lease dispute shall be reinstated in all of its termsdetermined by an independent expert appointed jointly by the parties. Such independent experts shall act as an expert and not as an arbitrator and his decision shall be final and binding on the parties.