Destruction of the Premises. (a) In the event of a partial destruction of the Premises during the Lease Term from any cause, Lessor, upon receipt of, and to the extent of, insurance proceeds paid in connection with such casualty, shall forthwith repair the same, provided the repairs can be made within a reasonable time under state, federal, county and municipal applicable law, but such partial destruction shall in no way annul or void this Lease, (except as provided in Section 8.01.(b) below) provided that Lessee shall be entitled to a proportionate credit for rent equal to the payment of rental income insurance received by Lessor. Lessor shall use diligence in making such repairs within a reasonable time period, acts of God, strikes and delays beyond Lessor's control excepted, in which instance the time period shall be extended accordingly, and this Lease shall remain in full force and effect, with the rent to be proportionately reduced as provided in this Section. If the Premises are damaged by any peril within twelve (12) months prior to the last day of the Lease Term and, in the reasonable opinion of the Lessor's architect or construction consultant, the restoration of the Premises cannot be substantially completed within ninety (90) days after the date of such damage and such damage renders unusable more than thirty percent (30%) of the Premises, Lessor may terminate this Lease on sixty (60) days written notice to Lessee.
(b) If the Premises are damaged or destroyed by any cause to the extent of more than fifty percent (50%) of the Premises during the Lease Term, Lessor shall notify Lessee within sixty (60) days after such damage or destruction whether it will repair the same within twelve (12) months (subject to force majeure) from the date of such notice and if Lessor states that it will not repair within said twelve (12) months (subject to force majeure) this Lease shall terminate ten (10) business days after Lessor gives its notice. In the event Lessor elects to repair, Lessor shall commence repairs within a reasonable time and diligently proceed to complete such repairs, in each instance subject to force majeure delays. In the event of termination, Lessor shall pay to Lessee all insurance proceeds, if any, received by Lessor as a result of the damage or destruction to the extent allocable to unamortized Tenant Improvements or other Alterations installed in the Premises at Lessee's sole cost and expense, using an amortization schedule of equal monthly installments over the fi...
Destruction of the Premises. Should the Premises be destroyed or damaged in whole or in part at any time during the Term by fire, earthquake, act of God, or acts of the public enemy, or by any other casualty, the rights and duties of the parties with respect to reconstruction, rebuilding or repair thereof, and with respect to the continuance or termination of this Lease, shall be as follows:
(a) If the cost of reconstructing, rebuilding or repairing is less than fifty percent (50%) of the total value of all improvements, excluding personal property and improvements made by Lessee, Lessor shall reconstruct, rebuild or repair the Premises with no unreasonable delay, at Lessor's sole cost and expense. During the period of such reconstruction, rebuilding or repairing, the Base Rent herein provided to be paid by Lessee shall be reduced on a pro rata basis in the same proportion that the area of the Premises not able to be occupied by Lessee during such period bears to the area of Premises prior to such casualty.
(b) If the cost of reconstructing, rebuilding or repairing is fifty percent (50%) or more of the total value of all improvements, excluding personal property and improvements made by Lessee, either Lessee or Lessor may terminate this Lease at any time within thirty (30) days from the date of such casualty upon notice to the other. In the event this Lease is not so terminated, Lessor shall reconstruct, rebuild or repair said Premises, exclusive of improvements made by Lessee, without unreasonable delay, at Lessor's sole cost and expense. In this event, the Base Rent shall be prorated during the period of such reconstruction, rebuilding or repairing in the manner provided in subparagraph (a) above.
(c) Notwithstanding the foregoing provisions if, in Lessee's reasonable opinion, the damage caused by any such casualty cannot be repaired within ninety (90) days after the date of such casualty and in addition, such damage makes the use of said Premises by Lessee impracticable, Lessee shall have the right at its option, to cancel this Lease upon notice to Lessor within twenty (20) days from and after the date of such casualty.
(d) Any such termination shall be deemed effective as of the date of the casualty and each of the parties hereto shall be relieved of all further obligations hereunder not accrued before said date, except such obligations as, by their terms, must be performed or completed after such termination.
Destruction of the Premises. Should the Building in which the Premises is situated be destroyed by fire or through any other cause during the period of this lease in such manner to render the Premises untenantable, then this lease shall in consequence be terminated. Should the Building be only damaged or partially destroyed by fire or through any other cause, but the Premises remains tenantable then this lease shall not be terminated, and the Lessee shall continue to pay the rent payable.
Destruction of the Premises. If prior to delivery of deed or agreement for deed the 215 improvements on the premises shall be destroyed or materially damaged by fire or other 216 casualty, Buyer shall have the option of declaring this Contract void and receiving a refund 217 of xxxxxxx money paid, or of accepting the premises as damaged or destroyed, together with 218 the proceeds of any insurance payable as a result of the destruction or damage, which 219 proceeds Xxxxxx agrees to assign to Xxxxx.
Destruction of the Premises. 12 SECTION 17.01 DESTRUCTION ........................................... 12 ARTICLE XVIII. CONDEMNATION ............................................... 13 SECTION 18.01 CONDEMNATION .......................................... 13
Destruction of the Premises. In case of damage by fire or other elements so as to render the Premises herein described untenantable or as to cause a cessation of business as a result thereof, Landlord and Tenant shall immediately notify the other in writing of such damage. Rent shall cease during the time that the Premises are untenantable and shall commence again on the day following completion of the repairs. In the event the Premises cannot be repaired or rebuilt within 90 days, then either party shall have the option to terminate this Lease upon notice to the other party.
Destruction of the Premises. In case the building shall be at any time, wholly or partially, destroyed by fire or other unavoidable casualty so that the premises shall be unfit for occupation or use; or in the event the building is wholly or partially, destroyed by any cause whatsoever, excepting the negligence or willful misconduct of the Concessionaire, rental payments shall be suspended and prorated until such time as the structure is repaired or rebuilt. If the building is damaged, the City shall have no obligation to rebuild or repair.
Destruction of the Premises. If the Building is totally destroyed by fire or any other cause, this Agreement, at the option of LESSEE, shall terminate. If a loss renders any portion of the Premises unusable, LESSEE may choose to remain or may terminate this Agreement by written notice to SBCAG. Should LESSEE choose to remain, SBCAG shall, as reasonably possible, promptly repair the Premises within ninety (90) days of the casualty. If LESSEE chooses to remain in possession of the Premises despite partial destruction, the rent provided in this Agreement shall be reduced by the same percentage that usable floor space has been reduced until the destroyed section is rebuilt to its condition prior to the casualty.
Destruction of the Premises. (a) In the event all or any part of the Premises or the Common Area serving or providing access to the Premises or parking for the Premises are damaged during the Lease Term from any fire or other casualty, then Landlord shall promptly conduct the repair and diligently pursue the same to completion, subject to reasonable delays for insurance adjustment and other matters beyond Landlord’s reasonable control (in which event the provisions of Section 17.20 below shall apply), and subject to all other terms and conditions of this Article
Destruction of the Premises. Should the Premises be destroyed by fire or through any other cause during the period of this lease, to such an extent so as to render the Premises uninhabitable, then this lease shall be terminated. In the event that the Premises are only partially damaged/destroyed by fire or through any other cause, but remains habitable then this lease shall not be terminated and the Lessee shall continue to pay the monthly rental.
