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

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:

Appears in 1 contract

Samples: Lease I Agreement (Amf Bowling Worldwide Inc)

AutoNDA by SimpleDocs

DESTRUCTION OF OR DAMAGE TO PREMISES. (a) If the Premises, or any Site is part thereof, are damaged by fire or other casualty during the Term of this LeaseTerm, Tenant shall (a) promptly and diligently repair such damage and restore such Site the Premises to substantially the same or better condition as existed before the occurrence of such fire or other casualty casualty, using materials of the same or better grade than that of the materials being replaced (hereinreplaced, 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 Sections 9 and the standards of paragraph 9 22 herein, subject to then Applicable Laws, 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 nor, subject to Section 10(c), shall this Lease terminate by reason of such damage or destruction. Provided that (i) no Material 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), hereunder and provided is continuing and (ii) Tenant has: (i) has delivered to Landlord plans and specifications and a budget for such Casualty Repair repair and restoration (all of which Landlord shall have approvedapproved in accordance with, and to the extent required, under this Lease), and (iithen subject to compliance by Tenant with the provisions of Section 10(b)(iii) deposited with below, Landlord or shall cause 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 paid directly by the insurer to the Proceeds Trustee and all insurance proceeds actually received by Landlord and not paid over to the Proceeds Trustee on account of such casualty, for application to the costs of such approved repair and restoration, as set forth belowin Section 10(b). For all Casualty Repairs, Tenant’s obligations under this Section 10 shall survive the following apply:termination or expiration of this Lease.

Appears in 1 contract

Samples: Sublease Agreement (Sema4 Holdings Corp.)

DESTRUCTION OF OR DAMAGE TO PREMISES. (a) If the Premises, or any Site is part thereof, are damaged by fire or other casualty during the Term of this LeaseTerm, Tenant shall (a) diligently repair such damage and restore such Site the Premises to substantially the same or better condition as existed before the occurrence of such fire or other casualty casualty, using materials of the same or better grade than that of the materials being replaced (hereinreplaced, 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 Sections 9 and the standards of paragraph 9 22 herein, subject to then Applicable Laws, 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), hereunder and is continuing and provided Tenant has: has (i) delivered to Landlord plans and specifications and a budget for such Casualty Repair repair and restoration (all of which Landlord shall have approved), approved in its reasonable judgment) and (ii) deposited with Landlord or the Proceeds Trustee hereinafter mentioned 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, then Landlord shall make available to Tenant all insurance proceeds actually received by Landlord Landlord, if any, and not paid over to the Proceeds Trustee 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:13

Appears in 1 contract

Samples: Chemical Financial Corp

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 xxxxxaxxxx, 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:

Appears in 1 contract

Samples: Lease Ii Agreement (Amf Bowling Worldwide Inc)

AutoNDA by SimpleDocs

DESTRUCTION OF OR DAMAGE TO PREMISES. If any Site the Premises is damaged by fire or other casualty during the Term of this Lease, Tenant shall (a) repair such damage and restore such Site the Premises 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, then to the extent such proceeds are available to Landlord from Mortgagee, 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:

Appears in 1 contract

Samples: Lease Agreement (Aar Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.