DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed (or so substantially damaged as to be untenable) by storm, fire, earthquake, or other casualty, this Lease shall terminate as of the date of such destruction or damage, and rental shall be accounted for as between Lessor and Lessee as of that date. If the Premises are damaged but not rendered wholly untenable by any such casualty, rental shall xxxxx in proportion as the Premises have been damaged and Lessor shall restore as speedily as practicable, whereupon full rent shall recommence.
DESTRUCTION OF OR DAMAGE TO PREMISES. 15. (a) If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, Landlord shall have the right to terminate this Lease on written notice to Tenant within thirty (30) days after such destruction and this Lease shall terminate as of the date of such destruction and rental shall be accounted for as between Landlord and Tenant as of that date.
DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are damaged or destroyed by fire or other casualty, this Lease and all of its terms, covenants and conditions shall, subject to the provisions hereinafter set forth, continue in full force and effect; provided, if more than fifty percent (50%) of the Premises is rendered unusable for Tenant’s intended use and, in Landlord’s reasonable opinion, the Premises cannot be restored within one hundred eighty (180) days after the date of such damage or destruction, or if the proceeds from Landlord’s insurance remaining (after required payment to any mortgagee, lender or lessor of Landlord, if any) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice within sixty (60) days after such damage or destruction. Within thirty (30) days after the date of such damage or destruction, Landlord shall give notice to Tenant of its reasonable opinion as to the number of days needed to restore the Premises so that Tenant may resume normal business operations therein. Notwithstanding anything to the contrary in this Lease, in the event that the Premises is damaged, but not so destroyed (as set forth above) to terminate the Lease, or Landlord elects to rebuild, and provided that the Term of this Lease shall have at least fifteen (15) months remaining, and that applicable laws shall permit, then, and in those events, the Landlord shall repair and rebuild the Premises with reasonable diligence. Notwithstanding the foregoing: (i) (A) in the event there is less than two (2) years of the Lease Term remaining, or (B) in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt and Landlord does not promptly commit to restore with Landlord’s funds, or (C) in the event of any material uninsured loss to the Building and Premises and Landlord does not promptly commit to restore with Landlord funds, then Tenant may terminate this Lease by notifying Landlord in writing of such termination within ninety (90) days after the date of such casualty, or (ii) if the written estimate states that the Premises cannot be restored to substantially the condition that existed prior to the casualty within one hundred eighty (180) days of the casualty, then Tenant may, at its option, terminate this Lease by notifying the Landlord in writing of such terminat...
DESTRUCTION OF OR DAMAGE TO PREMISES. 11.1 If the Unit is destroyed or damaged to an extent which prevents the Tenant from having substantial beneficial occupation of the Unit, the Landlord shall reinstate the Unit (and if necessary, the Building) at its cost as quickly as possible in the circumstances. If it is not possible for the Landlord to reinstate the Unit within 2 (two) months of such damage or destruction, the Tenant shall be entitled to cancel this Agreement by giving written notice to the Landlord to that effect.
DESTRUCTION OF OR DAMAGE TO PREMISES. If any Site is damaged by fire or other casualty during the Term of this Lease, Tenant shall (a) repair such damage and restore such Site to substantially the same or better condition as existed before the occurrence of such fire or other casualty using materials of the same or better grade than that of the materials being replaced (herein, a “Casualty Repair”) and (b) this Lease shall remain in full force and effect. Such repair and replacement by Tenant shall be done in accordance with paragraph 23 and the standards of paragraph 9 and Tenant shall, at its expense, obtain all permits required for such work. An architect or engineer selected by Landlord shall review, at Tenant’s expense, all plans and specifications and all draw requests hereunder. In no event shall Fixed Rent or Additional Rent xxxxx, nor shall this Lease terminate by reason of such damage or destruction. Provided that no Event of Default by Tenant shall then exist under this Lease (and no event has occurred which, with the passage of time, the giving of notice, or both, would constitute an Event of Default), and provided Tenant has: (i) delivered to Landlord plans and specifications and a budget for such Casualty Repair (all of which Landlord shall have approved), and (ii) deposited with Landlord or the Proceeds Trustee cash or a letter of credit meeting the requirements (other than amount) of a Letter of Credit outlined in Section 5(d)(iii), above, in the sum equal to the excess, if any, of the total cost set forth in such approved budget over the amount of insurance proceeds received on account of such casualty, Landlord shall make available to Tenant all insurance proceeds actually received by Landlord on account of such casualty, for application to the costs of such approved repair and restoration, as set forth below. For all Casualty Repairs, the following apply:
DESTRUCTION OF OR DAMAGE TO PREMISES. (6.4 SA)
DESTRUCTION OF OR DAMAGE TO PREMISES. 10. In the event the demised Premises, either prior to the commencement date of this Rental Agreement or during the term thereof shall be so damaged, by any cause whatever, as to be rendered unfit for occupancy by Tenant, and the Premises shall not thereafter be repaired by Landlord at its expense with reasonable promptness and dispatch, then this Rental Agreement may be immediately canceled and terminated at the option of Tenant by giving Landlord notice thereof, and rent (if any) shall be payable only to the date of such damage. Shall the Premises, either prior to the commencement date of this Rental Agreement or during the term thereof, be partially destroyed, by any cause whatever, but not rendered unfit for occupancy by Tenant, then Landlord agrees that the Premises, at Landlord's expense and with reasonable promptness and dispatch, shall be repaired and restored to substantially the same condition as before the damage. In the event of a partial destruction of the Premises there shall be a fair abatement in the rent payable during the time such repairs or rebuilding are being made. Such proportionate deduction of rent to be based upon the extent to which the making of such repairs or rebuilding shall interfere with the business carried on by Tenant in the Premises. Full rental shall again commence after completion of the repairs and restoration of the Premises by Landlord. In connection with the foregoing, it is agreed by the parties hereto that Tenant, after making a reasonable assessment of damages, shall make the decision as to whether or not the Premises are fit or unfit for occupancy by Tenant.
DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction, and rental shall be accounted for as between Lessor and Lessee as of that date. If the Premises are damaged, but not wholly destroyed by any of such casualties, rental shall xxxxx in such proportion as use of the Premises has been destroyed, and Lessor shall restore the Premises to substantially the same condition as before damage as speedily as practicable, whereupon full rental shall recommence; provided, however, that if the damage shall be so extensive that the same cannot be reasonably repaired and restored within six (6) months from date of the casualty, then either Lessor or Lessee may terminate this Lease by giving written notice to the other party within thirty (30) days from the date of such casualty. In the event of such termination, rental shall be apportioned and paid up to the date of such casualty.
DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are substantially destroyed or rendered substantially untenantable by storm, fire, earthquake or other natural catastrophe, this Agreement shall terminate as of the date of such substantial destruction or untenantability, with no obligation of Landlord to rebuild or provide other premises for Tenant, and the rental and other obligations accrued by or to the parties to this Agreement shall be accounted for between Landlord and Tenant as of the date when the Premises were substantially destroyed or became substantially untenantable; provided, however, that Landlord may require Tenant to occupy other premises as a condition of employment. For purposes of this paragraph, “substantially destroyed or rendered substantially untenantable” means at least fifty percent (50%) of the Premises destroyed or rendered untenantable.
DESTRUCTION OF OR DAMAGE TO PREMISES. If the premises are totally destroyed or so damaged as to be untenatable by any storm, fire, earthquake, or other casualty, this lease shall terminate as of the date of such destruction or damage and rental will be accounted for as of that date.
