Common use of DESTRUCTION OF PREMISES; CONDEMNATION Clause in Contracts

DESTRUCTION OF PREMISES; CONDEMNATION. 14.1 During the Initial Lease Term, should the Premises or any portion thereof be destroyed by any cause whatsoever ("Damaged") and provided that restoration is permitted under the Credit Agreement, Tenant shall restore the Premises. After the expiration of the Initial Lease Term, should the Premises be Damaged, Tenant may elect to either terminate this Lease or restore the Premises by delivery of written notice to Landlord within thirty (30) days after the casualty event giving rise to the Damage. If Tenant fails to give timely notice of Tenant's election, Tenant shall be deemed to have elected to terminate and this Lease shall terminate at the end of the calendar month following the calendar month in which such casualty event shall have occurred. If Tenant is required or elects to restore the Premises, the following provisions shall apply: After any such casualty and during the reconstruction period, Rent shall continue to accrue and be payable as if such event of destruction had not occurred. Tenant shall reconstruct the Damaged Improvements with all reasonable diligence (allowing for adjustment and collection of insurance proceeds, licensing, permitting, and approvals) and as often as any structures subsequently constructed on the Premises or any part thereof shall be Damaged. No Damage to any building or Improvements on the Premises by fire, windstorm, or any other casualty shall entitle Tenant to violate any of the provisions of this Lease. Landlord hereby agrees to assign to Tenant any insurance proceeds otherwise payable to Landlord, whether payable solely to Landlord or jointly to Landlord and Tenant, subject to reasonable and third party customary construction control procedures, so long as Tenant uses such proceeds solely to repair or rebuild the Damaged buildings or Improvements.

DESTRUCTION OF PREMISES; CONDEMNATION. 14.1 During the period prior to the earlier to occur of the expiration of the Initial Lease TermTerm or the Lien Release Date, should the Premises or any portion thereof be destroyed by any cause whatsoever ("Damaged") and provided that restoration is permitted under the Credit Agreement, Tenant shall restore the PremisesPremises so long as it is permitted under the WLV Credit Agreement and the Mortgage Notes Indenture. After the earlier to occur of the expiration of the Initial Lease TermTerm or the Lien Release Date, should the Premises be Damaged, Tenant may elect to either terminate this Lease or restore the Premises by delivery of written notice to Landlord within thirty (30) days after the casualty event giving rise to the Damage. If Tenant fails to give timely notice of Tenant's election, Tenant shall be deemed to have elected to terminate and this Lease shall terminate at the end of the calendar month following the calendar month in which such casualty event shall have occurred. If Tenant is required or elects to restore the Premises, the following provisions shall apply: After any such casualty and during the reconstruction period, Rent shall continue to accrue and be payable as if such event of destruction had not occurred. Tenant shall reconstruct the Damaged Improvements with all reasonable diligence (allowing for adjustment and collection of insurance proceeds, licensing, permitting, and approvals) and as often as any structures subsequently constructed on the Premises or any part thereof shall be Damaged. No Damage to any building or Improvements on the Premises by fire, windstorm, or any other casualty shall entitle Tenant to violate any of the provisions of this Lease. Landlord hereby agrees to assign to Tenant any insurance proceeds otherwise payable to Landlord, whether payable solely to Landlord or jointly to Landlord and Tenant, subject to reasonable and third party customary construction control procedures, so long as Tenant uses such proceeds solely to repair or rebuild the Damaged buildings or Improvements.

DESTRUCTION OF PREMISES; CONDEMNATION. 14.1 During the period prior to the earlier to occur of the expiration of the Initial Lease TermTerm or the Lien Release Date, should the Premises or any portion thereof be destroyed by any cause whatsoever ("Damaged") and provided that restoration is permitted under the Credit AgreementAgreement and the Mortgage Notes Indenture, Tenant shall restore the Premises. After the earlier to occur of the expiration of the Initial Lease TermTerm or the Lien Release Date, should the Premises be Damaged, Tenant may elect to either terminate this Lease or restore the Premises by delivery of written notice to Landlord within thirty (30) days after the casualty event giving rise to the Damage. If Tenant fails to give timely notice of Tenant's election, Tenant shall be deemed to have elected to terminate and this Lease shall terminate at the end of the calendar month following the calendar month in which such casualty event shall have occurred. If Tenant is required or elects to restore the Premises, the following provisions shall apply: After any such casualty and during the reconstruction period, Rent shall continue to accrue and be payable as if such event of destruction had not occurred. Tenant shall reconstruct the Damaged Improvements with all reasonable diligence (allowing for adjustment and collection of insurance proceeds, licensing, permitting, and approvals) and as often as any structures subsequently constructed on the Premises or any part thereof shall be Damaged. No Damage to any building or Improvements on the Premises by fire, windstorm, or any other casualty shall entitle Tenant to violate any of the provisions of this Lease. Landlord hereby agrees to assign to Tenant any insurance proceeds otherwise payable to Landlord, whether payable solely to Landlord or jointly to Landlord and Tenant, subject to reasonable and third party customary construction control procedures, so long as Tenant uses such proceeds solely to repair or rebuild the Damaged buildings or Improvements.

DESTRUCTION OF PREMISES; CONDEMNATION. 14.1 During With respect to any portion of the Premises, during the period prior to the earlier to occur of the expiration of the Initial Lease TermTerm or the Lien Release Date for a portion of the Premises, should such portion of the Premises or any portion thereof be destroyed by any cause whatsoever ("Damaged") and provided that restoration is permitted under the Credit AgreementAgreement and the Mortgage Notes Indenture, Tenant shall restore such portion of the Premises. After the earlier to occur of the expiration of the Initial Lease TermTerm or the Lien Release Date with respect to a portion of the Premises, should such portion of the Premises be Damaged, Tenant may elect to either terminate this Lease with respect to such portion of the Premises or restore such portion of the Premises by delivery of written notice to Landlord within thirty (30) days after the casualty event giving rise to the Damage. If Tenant fails to give timely notice of Tenant's election, Tenant shall be deemed to have elected to terminate and this Lease shall terminate with respect to the portion of the Premises in question at the end of the calendar month following the calendar month in which such casualty event shall have occurred. If Tenant is required or elects to restore the Premises, or any portion thereof, the following provisions shall apply: After any such casualty and during the reconstruction period, Rent shall continue to accrue and be payable as if such event of destruction had not occurred. Tenant shall reconstruct the Damaged Improvements with all reasonable diligence (allowing for adjustment and collection of insurance proceeds, licensing, permitting, and approvals) and as often as any structures subsequently constructed on the Premises or any part thereof shall be Damaged. No Damage to any building or Improvements on the Premises by fire, windstorm, or any other casualty shall entitle Tenant to violate any of the provisions of this Lease. Landlord hereby agrees to assign to Tenant any insurance proceeds otherwise payable to Landlord, whether payable solely to Landlord or jointly to Landlord and Tenant, subject to reasonable and third party customary construction control procedures, so long as Tenant uses such proceeds solely to repair or rebuild the Damaged buildings or Improvements.

DESTRUCTION OF PREMISES; CONDEMNATION. 14.1 During In the Initial Lease Termcase of the total destruction of the Premises, should the Premises or any portion thereof be destroyed by any cause whatsoever ("Damaged") and provided that restoration is permitted under the Credit Agreement, Tenant shall restore the Premises. After the expiration or of the Initial Lease Term, should Hotel substantially interfering with Tenant’s use of the Premises be Damaged, Tenant may elect to either terminate this Lease not caused by the fault or restore the Premises by delivery of written notice to Landlord within thirty (30) days after the casualty event giving rise to the Damage. If Tenant fails to give timely notice negligence of Tenant's election, Tenant shall be deemed to have elected to terminate and its agents, employees, servants, contractors, subtenants, licensees or customers (“Destruction”), this Lease shall terminate at the end of the calendar month following the calendar month in which such casualty event shall have occurredexcept as herein provided. If Landlord notifies Tenant is required or elects in writing within forty-five (45) days of Destruction of Landlord’s election to restore repair said damage to the Premises, and if Landlord proceeds to and does repair such damage with reasonable dispatch, the following provisions Lease shall apply: After not terminate, but shall continue in full force and effect, except that Tenant shall be entitled to a reduction in the Rent in an amount equal to that proportion of the Rent which the number of square feet of floor space in the unusable portion of the Premises bears to the Total Square Feet, and provided further that if such portion of the Premises is damaged or destroyed such that the remainder will not be suitable for the purpose for which Tenant has leased the Premises, Tenant may close for business until such time as Landlord has repaired such damage and Rent and all other charges hereunder shall be suspended until such time as Tenant is able to reopen for business. Said reduction shall be prorated so that the Rent shall only be reduced for those days that any such casualty given area is actually unusable. If this Lease is terminated pursuant to this Section 14, and during the reconstruction periodif Tenant is not in default hereunder, Rent shall continue to accrue and be payable prorated as if such event of destruction had not occurred. Tenant shall reconstruct the Damaged Improvements with all reasonable diligence (allowing for adjustment and collection of insurance proceeds, licensing, permitting, and approvals) and as often as any structures subsequently constructed on the Premises or any part thereof shall be Damaged. No Damage to any building or Improvements on the Premises by fire, windstorm, or any other casualty shall entitle Tenant to violate any of the provisions date of this Lease. Landlord hereby agrees to assign to Tenant any insurance proceeds otherwise payable to Landlord, whether payable solely to Landlord or jointly to Landlord termination and Tenant, subject to reasonable all further rights and third party customary construction control procedures, so long as Tenant uses such proceeds solely to repair or rebuild the Damaged buildings or Improvementsobligations hereunder shall cease and terminate.

DESTRUCTION OF PREMISES; CONDEMNATION. 14.1 During In the Initial Lease Termcase of the total destruction of the Premises, should the Premises or any portion thereof be destroyed or of the Building substantially interfering with Tenant's use of the Premises not caused by any cause whatsoever the fault or negligence of Tenant, its agents, employees, servants, contractors, subtenants, licensees or customers ("DamagedDestruction") and provided that restoration is permitted under the Credit Agreement), Tenant shall restore the Premises. After the expiration of the Initial Lease Term, should the Premises be Damaged, Tenant may elect to either terminate this Lease or restore the Premises by delivery of written notice to Landlord within thirty (30) days after the casualty event giving rise to the Damage. If Tenant fails to give timely notice of Tenant's election, Tenant shall be deemed to have elected to terminate and this Lease shall terminate at the end of the calendar month following the calendar month in which such casualty event shall have occurredexcept as herein provided. If Landlord notifies Tenant is required or elects in writing within forty-five (45) days of such Destruction of Landlord's election to restore repair said damage to the Premises, and if Landlord proceeds to and does repair such damage with reasonable dispatch, the following provisions Lease shall apply: After any not terminate, but shall continue in full force and effect, except that Tenant shall be entitled to a reduction in the Rent in an amount equal to that proportion of the Rent which the number of square feet of floor space in the unusable portion of the Premises bears to the Total Square Feet, and provided further that if such casualty portion of the Premises is damaged or destroyed such that the remainder will not be suitable for the purpose for which Tenant has leased the Premises, Tenant may close for business until such time as Landlord has repaired such damage and during rent and all other charges hereunder shall be suspended until such time is able to reopen for business. Said reduction shall be prorated so that the reconstruction period, Rent shall continue only be reduced for those days any given area as actually unusable. If this Lease is terminated pursuant to accrue and be payable as if such event of destruction had not occurred. Tenant shall reconstruct the Damaged Improvements with all reasonable diligence (allowing for adjustment and collection of insurance proceeds, licensing, permittingthis Section 14, and approvals) and as often as any structures subsequently constructed on the Premises or any part thereof if Tenant is not in default hereunder, rent shall be Damaged. No Damage to any building or Improvements on the Premises by fire, windstorm, or any other casualty shall entitle Tenant to violate any prorated as of the provisions date of this Lease. termination, any security deposited with Landlord hereby agrees shall be returned to assign to Tenant any insurance proceeds otherwise payable to Landlord, whether payable solely to Landlord or jointly to Landlord and Tenant, subject to reasonable and third party customary construction control procedures, so long as Tenant uses such proceeds solely to repair or rebuild the Damaged buildings or Improvementsall rights and obligations hereunder shall cease and terminate.

DESTRUCTION OF PREMISES; CONDEMNATION. 14.1 During the period prior to the earlier to occur of the expiration of the Initial Lease TermTerm or the Termination Option Date, should the Premises or any portion thereof be destroyed by any cause whatsoever ("Damaged") and provided that restoration is permitted under the Credit Agreement, Tenant shall restore the PremisesPremises so long as it is permitted by the WLV Credit Agreement and the Mortgage Notes Indenture. After the earlier to occur of the expiration of the Initial Lease TermTerm or the Termination Option Date, should the Premises be Damaged, Tenant may elect to either terminate this Lease or restore the Premises by delivery of written notice to Landlord within thirty (30) days after the casualty event giving rise to the Damage. If Tenant fails to give timely notice of Tenant's election, Tenant shall be deemed to have elected to terminate and this Lease shall terminate at the end of the calendar month following the calendar month in which such casualty event shall have occurred. If Tenant is required or elects to restore the Premises, the following provisions shall apply: After any such casualty and during the reconstruction period, Rent shall continue to accrue and be payable as if such event of destruction had not occurred. Tenant shall reconstruct the Damaged Improvements with all reasonable diligence (allowing for adjustment and collection of insurance proceeds, licensing, permitting, and approvals) and as often as any structures subsequently constructed on the Premises or any part thereof shall be Damaged. No Damage to any building or Improvements on the Premises by fire, windstorm, or any other casualty shall entitle Tenant to violate any of the provisions of this Lease. Landlord hereby agrees to assign to Tenant any insurance proceeds otherwise payable to Landlord, whether payable solely to Landlord or jointly to Landlord and Tenant, subject to reasonable and third party customary construction control procedures, so long as Tenant uses such proceeds solely to repair or rebuild the Damaged buildings or Improvements.

DESTRUCTION OF PREMISES; CONDEMNATION. 14.1 During the period prior to the earlier to occur of the expiration of the Initial Lease TermTerm or the Lien Release Date, should the Premises or any portion thereof be destroyed by any cause whatsoever ("Damaged") and provided that restoration is permitted under the Credit AgreementAgreement and the Second Mortgage Notes, Tenant shall restore the Premises. After the earlier to occur of the expiration of the Initial Lease TermTerm or the Lien Release Date, should the Premises be Damaged, Tenant may elect to either terminate this Lease or restore the Premises by delivery of written notice to Landlord within thirty (30) days after the casualty event giving rise to the Damage. If Tenant fails to give timely notice of Tenant's election, Tenant shall be deemed to have elected to terminate and this Lease shall terminate at the end of the calendar month following the calendar month in which such casualty event shall have occurred. If Tenant is required or elects to restore the Premises, the following provisions shall apply: After any such casualty and during the reconstruction period, Rent shall continue to accrue and be payable as if such event of destruction had not occurred. Tenant shall reconstruct the Damaged Improvements with all reasonable diligence (allowing for adjustment and collection of insurance proceeds, licensing, permitting, and approvals) and as often as any structures subsequently constructed on the Premises or any part thereof shall be Damaged. No Damage to any building or Improvements on the Premises by fire, windstorm, or any other casualty shall entitle Tenant to violate any of the provisions of this Lease. Landlord hereby agrees to assign to Tenant any insurance proceeds otherwise payable to Landlord, whether payable solely to Landlord or jointly to Landlord and Tenant, subject to reasonable and third party customary construction control procedures, so long as Tenant uses such proceeds solely to repair or rebuild the Damaged buildings or Improvements.