Common use of Destruction of Premises Due to Risk Not Covered by Insurance Clause in Contracts

Destruction of Premises Due to Risk Not Covered by Insurance. If during the term of this Agreement the Premises are totally or partially destroyed from a risk where the cost of reconstruction is not fully covered by insurance, then Lessor shall have the election to terminate this Agreement or restore the Premises in accordance with the provisions of Paragraph 13.1. If Lessor elects to restore the Premises, this Agreement shall continue in effect and Lessee shall have the obligation, at its cost, to restore the Television Equipment and the Telephone Equipment.

Destruction of Premises Due to Risk Not Covered by Insurance. If during the term of this Agreement the Premises are totally or partially destroyed from a risk where the cost of reconstruction is not fully covered by insurance, then Lessor shall have the election to terminate this Agreement or restore the Premises Premise's in accordance with the provisions of Paragraph 13.1paragraph 13. 1. If Lessor elects to restore the Premises, this .his Agreement shall continue in effect and Lessee shall have the obligation, at its cost, to restore the Television Equipment and the Telephone Equipment.