Common use of Destruction of the Premises or Building Clause in Contracts

Destruction of the Premises or Building. If during the Term hereof, the Premises and/or the Building are damaged by reason of fire or other casualty, Tenant shall give immediate notice thereof to Landlord. Subject to the prior rights of any Superior Mortgagee, Landlord shall restore the Premises and/or the Building to substantially the same condition they were in immediately before said destruction. If the restoration can be accomplished within 120 working days after the date Landlord receives notice of the destruction, such destruction shall not serve to terminate this Lease. If the restoration cannot be performed within the time stated in this section, then within ninety (90) days after the parties determine that the restoration cannot be completed within said time, either party may terminate this Lease upon thirty (30) days notice to the other party. If Tenant fails to terminate this Lease and restoration is permitted under existing laws, Landlord, at its election, may restore the Premises and/or the Building within a reasonable period of time, and this Lease shall continue in full force and effect. Landlord shall use diligent effort in restoring the Premises and/or Building. Rent shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable as a result of such damage, unless said damage was caused by the intentional wrongful act of Tenant or its employees, agents or invitees. Should Landlord elect to terminate this Lease, the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of Landlord, subject to the prior rights of any mortgagee and except any proceeds received for Tenant’s Property that are covered under Tenant’s insurance.

Destruction of the Premises or Building. If If, during the Term hereof, the Premises and/or the Building are damaged by reason of fire or other casualty, Tenant shall give immediate notice thereof to Landlord. Subject to the prior rights of any Superior Mortgageemortgagee, Landlord shall restore the Premises and/or the Building to substantially the same condition they were in immediately before said destruction. If Landlord shall provide its opinion within sixty (60) days of the casualty. If, in Landlord's reasonable opinion, the restoration can be accomplished within 120 working 270 calendar days after the date Landlord receives notice of the destruction, such destruction shall not serve to terminate result in a termination of this Lease. If If, in Landlord's reasonable opinion, the restoration cannot be performed within the time stated in this sectionSection , then within ninety thirty (9030) days after the parties determine determination or the date the determination was due that the restoration cannot be completed within said time, either party Landlord or Tenant may terminate this Lease upon thirty (30) days notice to the other party. If Tenant Landlord fails to terminate this Lease and restoration is permitted under existing laws, Landlord, at its election, may Landlord shall restore the Premises and/or the Building within a reasonable period of timetime not exceeding 270 calendar days from the date of the casualty, and this Lease shall continue in full force and effect. Landlord shall use diligent effort in restoring the Premises and/or Building. Rent shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable untenantable as a result of such damage, unless said damage was caused by the negligence or intentional wrongful act of Tenant or its officers, employees, agents or invitees. Should Landlord elect to terminate this Lease, the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of Landlord, subject to the prior rights of any mortgagee and except any proceeds received for Tenant’s Property 's Property, or proceeds received from Tenant's business interruption insurance, if any. In the event that are covered under Tenant’s insurancethe Building has been damaged or destroyed by fire or other casualty to the extent that the cost of restoration of the Building will exceed a sum constituting fifty percent (50%) of the total replacement cost thereof, Landlord shall have the right to terminate this Lease provided that notice thereof is given to Tenant not later than sixty (60) days after such damage or destruction and Landlord elects not to restore the Building and terminates all other leases for space in the Building.

Destruction of the Premises or Building. If If, during the Term hereof, the Premises and/or the Building are damaged by reason of fire or other casualty, Tenant shall give immediate notice thereof to Landlord. Subject to the prior rights of any Superior Mortgageemortgagee, Landlord shall restore the Premises and/or the Building to substantially the same condition they were in immediately before said destruction. If If, in Landlord's reasonable opinion, which opinion shall be rendered within forty five (45) days of destruction, the restoration can be accomplished within 120 180 working days after following the date Landlord receives notice issuance of the destructiona building permit for reconstruction, such destruction shall not serve to terminate this Lease. If If, in Landlord's reasonable opinion, the restoration cannot be performed within the time stated in this sectionparagraph, then at any time within ninety the thirty (9030) days day period after the parties determine that the restoration cannot be completed within said timesuch determination, either party may terminate this Lease upon thirty fifteen (3015) days notice to the other partyparty during which time Tenant shall remove all of Tenant's Property from the Premises. If Tenant fails both parties fail to terminate this Lease and restoration is permitted under existing laws, Landlord, at its election, may Landlord shall restore the Premises and/or the Building within 180 working days following receipt of a reasonable period of timebuilding permit for reconstruction, and this Lease shall continue in full force and effect. Landlord shall use diligent effort in restoring the Premises and/or Building. Rent shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable untenantable as a result of such damage, unless said damage was caused by the negligence or intentional wrongful act of Tenant or its officers, employees, agents or invitees. Should Landlord elect to terminate this LeaseLease be terminated by either party, the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of Landlord, subject to the prior rights of any mortgagee and except any proceeds received for Tenant’s 's Property, or proceeds received from Tenant's business interruption insurance, if any. In the event that the Building has been damaged or destroyed by fire or other casualty to the extent that the cost of restoration of the Building will exceed a sum constituting fifty percent (50%) of the total replacement cost thereof and Landlord, in its reasonable opinion, determines that the Premises cannot be restored within the 180 day time period referenced in the preceding paragraph, which opinion shall be rendered within forty five (45) days of the date of damage or destruction, then at any time within the thirty (30) day period after such determination, either Party may terminate this Lease upon fifteen (15) days notice to the other party, during which time Tenant shall remove all of Tenant's Property that from the Premises. If both parties fail to terminate the Lease and restoration is permitted under existing laws, Landlord shall restore the Premises within said 180 day period and this Lease shall continue in full force and effect. Rent shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are covered under Tenant’s insurance.rendered untenantable as a result of such damage, unless said

Destruction of the Premises or Building. If the Premises or the Building are totally or substantially destroyed by fire or other casualty during the Term hereofof this Lease, the Premises and/or the Building are damaged by reason of fire or other casualty, Tenant shall give immediate notice thereof to Landlord. Subject to the prior rights of any Superior Mortgagee, Landlord shall restore have the Premises and/or option of terminating this Lease or any renewal thereof, upon giving written notice at any time within sixty (60) days from the Building to substantially the same condition they were in immediately before said date of such destruction. The termination herein mentioned shall be evidenced in writing. If the restoration can be accomplished within 120 working days after this Lease is so terminated, all Rent shall abate as of the date Landlord receives notice of the destruction, such destruction destrxxxxxn and any prepaid Rent shall not serve to terminate be refunded except as otherwise provided in this Lease. If In the restoration canevent that Landlord does not be performed within the time stated elect to Terminate this Lease as permitted hereinabove in this sectionArticle or if less than a substantial portion of the Building or the Premises are destroyed, then Landlord shall render the Premises tenantable by repairs within ninety one-hundred eighty (90180) days after from the parties determine that the restoration cannot be completed date of such destruction. Prior to beginning such repairs and within said time, either party may terminate this Lease upon thirty (30) days of the date of such destruction (which thirty (30) day period shall be extended as appropriate under the circumstances if the destruction is due to a major destructive event such as a hurricane, flood, tornado or similar occurrence causing an unavailability of contractors or construction personnel), Landlord shall deliver to Tenant an estimate from Landlord's contractor of the amount of time it will take to render the Premises tenantable. If such estimate shows that the repairs necessary to render the Premises tenantable shall take more than 180 days from the date of such destruction to be completed, Tenant shall have the right to terminate this Lease upon written notice to Landlord within ten (10) days of the date the Landlord delivered such estimate to Tenant. If said Premises are not rendered tenantable within the aforesaid 180 days, it shall be optional with either party hereto to then terminate this Lease upon written notice to the other party. If Tenant fails to terminate this Lease and restoration is permitted under existing laws, Landlord, at its election, may restore During any time that the Premises and/or are untenable due to causes set forth in this paragraph, the Building Rent or a just and fair proportion thereof shall be abated. In such case, all Rent paid in advance shall be proportioned as of the date of damage or destruction and all Rent thereafter accruing shall be equitably and proportionately suspended and adjusted according to the nature and extent of the destruction or damage, pending completion of rebuilding, restoration or repair. The Landlord shall not be liable for any inconvenience or interruption of business of the Tenant occasioned by the fire or other casualty. Notwithstanding the foregoing, should damage, destruction or injury occur by reason of the intentional act of Tenant, of Tenant's employee(s), or of Tenant's agent(s), Landlord shall have the option of terminating this Lease, upon giving written notice at any time within a reasonable period sixty (60) days from the date of timesuch destruction or to render the Premises tenantable within 360 days of the date of damage, destruction or injury; and this Lease no abatement of Rent shall continue in full force and effectoccur. Landlord shall use diligent effort in restoring not be liable to carry fire, casualty or extended damage insurance on the Premises and/or Building. Rent shall be abated during person or property of the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable as a result of such damage, unless said damage was caused by the intentional wrongful act of Tenant or its employees, agents any person or invitees. Should Landlord elect to terminate this Lease, property which may now or hereafter be placed in the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of Landlord, subject to the prior rights of any mortgagee and except any proceeds received for Tenant’s Property that are covered under Tenant’s insurancePremises.

Destruction of the Premises or Building. If If, during the Term hereof, the Premises and/or the Building are damaged by reason of fire or other casualtycasualty to the extent the Premises are rendered untenantable, Tenant shall give immediate notice thereof to Landlord. Subject to the prior rights of any Superior Mortgagee, Landlord shall restore the Premises and/or the Building to substantially the same condition they were in immediately before said destruction. Landlord agrees to promptly commence such repair work and to diligently proceed to restore the Premises. If the restoration can be accomplished within 120 working days after the date Landlord receives notice of the destruction, such destruction shall not serve to terminate this Lease. However, in the event such repair and restoration is not complete within 120 days, Landlord agrees to provide Tenant with Substitute Premises (as defined in Section 24.1 below. If such Substitute Premises is not available or is unacceptable to Tenant, either party may terminate this Lease as of the date of destruction. If Landlord reasonably determines that the restoration cannot reasonably be anticipated to be performed within the time stated in this sectionSection, then within ninety (90) 30 days after the parties determine that the restoration cannot be completed within said timeof such destruction, Landlord shall notify Tenant in writing and either party may terminate this Lease upon thirty (30) days notice to the other partyLease. If Tenant fails to terminate this Lease and restoration is permitted under existing laws, Landlord, at its election, may restore the Premises and/or the Building Building, within a reasonable period of time, and this Lease shall continue in full force and effect. Landlord shall use diligent effort in restoring the Premises and/or Building. Rent shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable untenantable as a result of such damage, unless said damage was caused by the negligence or intentional wrongful act of Tenant or its employees, agents or invitees. Should Landlord elect to terminate this Lease, the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of Landlord, subject to the prior rights of any mortgagee Superior Mortgagee, and except any proceeds received for Tenant’s Property that are covered under Tenant’s insurance's Property.

Destruction of the Premises or Building. If If, during the Term hereofLease Term, the Premises and/or the Building are damaged by reason of fire or other casualty, Tenant shall give immediate notice thereof to LandlordLandlord of such damage. Subject to the prior rights of any Superior MortgageeMortgagee (as defined hereinafter), Landlord shall restore the Premises and/or the Building to substantially the same condition they were in immediately before said destruction. If If, in Landlord’s reasonable discretion and based on objective information received from a qualified contractor, the restoration can be accomplished within 120 one hundred eighty (180) working days after the date Landlord receives notice of the destruction, such destruction shall not serve to terminate this Lease. If If, in Landlord's reasonable discretion, and based on objective information received from a qualified contractor the restoration cannot be performed within the time stated in this sectionparagraph, then within ninety (90) days after the parties determine Landlord determines that the restoration cannot be completed within said timetime and informs Tenant of the same, either party may terminate this Lease upon thirty (30) days notice to the other party. If Tenant fails to terminate this Lease within such ninety (90) days period and restoration is permitted under existing laws, Landlord, at its election, may restore the Premises and/or the Building Premises, within a reasonable period of time, and this Lease shall continue in full force and effect. Landlord shall use diligent effort in restoring the Premises and/or Building. Rent and any other amounts payable under this Lease shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable untenantable as a result of such damage, unless said damage was caused by the negligence or intentional wrongful act of Tenant or its officers, employees, agents or invitees. Should Landlord elect to terminate this Lease, the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of LandlordLandlord (unless any damage was caused by the gross negligence or intentional wrongful act of Landlord or its officers, employees, agents), subject to the prior rights of any mortgagee and except any proceeds received for Tenant’s Property that are covered under Property, or proceeds received from Tenant’s business interruption insurance, if any. Notwithstanding anything within this Lease to the contrary, Landlord’s obligation to rebuild and/or repair the Premises shall be limited to the extent of the insurance proceeds available to Landlord for such restoration and, further, shall exclude any obligation with regard to improvements in the Premises paid for by Tenant, the personal property of Tenant and the trade fixtures of Tenant. Notwithstanding anything in this Article IX to the contrary, in the event that the damage specified in this paragraph was caused by the gross negligence or intentional wrongful act of Landlord or its officers, employees, agents or invitees, Tenant shall have the right to forthwith terminate the Lease.

Destruction of the Premises or Building. If If, during the Term hereof, the Premises and/or the Building are damaged by reason of fire or other casualty, Tenant shall give immediate notice thereof to Landlord. Subject to the prior rights of any Superior Mortgageemortgagee, Landlord shall restore the Premises and/or the Building to substantially the same condition they were in immediately before said destruction. If Landlord shall provide its opinion within sixty (60) days of the casualty. If, in Landlord's architect's and contractor's reasonable opinion, the restoration can be accomplished within 120 working two hundred seventy (270) calendar days after the date Landlord receives notice of the destruction, such destruction shall not serve to terminate result in a termination of this Lease. If If, in Landlord's architect's and contractor's reasonable opinion, the restoration cannot be performed within the time stated in this sectionparagraph, then within ninety fifteen (9015) days after the parties determine determination or the date the determination was due that the restoration cannot be completed within said time, either party Landlord or Tenant may terminate this Lease upon thirty fifteen (3015) days notice to the other party. If Landlord and/or Tenant fails to terminate this Lease and restoration is permitted under existing laws, Landlord, at its election, may Landlord shall restore the Premises and/or the Building within a reasonable period of timetime not exceeding two hundred seventy (270) calendar days from the date of the casualty, and this Lease shall continue in full force and effect. Except to the extent of the proceeds of any loss of rents insurance actually paid to Landlord shall use diligent effort in restoring the Premises and/or Building. for and on account of such casualty, Rent and all other charge shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable untenantable as a result of such damage, damage unless said damage was caused by the gross negligence or intentional wrongful act or omission of Tenant or its officers, employees, agents or invitees, in which event there shall be no abatement. Should Landlord elect to terminate this Lease, the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of Landlord, subject to the prior rights of any mortgagee and except any proceeds received for Tenant’s Property 's Property, or proceeds received from Tenant's business interruption insurance, if any. In the event that are covered under Tenant’s insurancethe Building has been damaged or destroyed by fire or other casualty to the extent that the cost of restoration of the Building will exceed a sum constituting fifty percent (50%) of the total replacement cost thereof, Landlord shall have the right to terminate this Lease provided that notice thereof is given to the Tenant not later than sixty (60) days after such damage or destruction in the event Landlord elects not to restore the Building and terminates all other leases for space in the Building.

Destruction of the Premises or Building. If If, during the Term hereof, the Premises and/or the Building are damaged by reason of fire or other casualty, Tenant shall give immediate notice thereof to Landlord. Subject to the prior rights of any Superior Mortgageemortgagee, Landlord shall restore the Premises and/or the Building to substantially the same condition they were in immediately before said destruction. If Landlord shall provide its opinion within sixty (60) days of the casualty. If, in Landlord's reasonable opinion, the restoration can be accomplished within 120 working 270 calendar days after the date Landlord receives notice of the destruction, such destruction shall not serve to terminate result in a termination of this Lease. If If, in Landlord's reasonable opinion, the restoration cannot be performed within the time stated in this sectionparagraph, then within ninety thirty (9030) days after the parties determine determination or the date the determination was due that the restoration cannot be completed within said time, either party Landlord or Tenant may terminate this Lease upon thirty (30) days notice to the other party. If Tenant Landlord fails to terminate this Lease and restoration is permitted under existing laws, Landlord, at its election, may Landlord shall restore the Premises and/or the Building within a reasonable period of timetime not exceeding 270 calendar days from the date of the casualty, and this Lease shall continue in full force and effect. Landlord shall use diligent effort in restoring the Premises and/or Building. Rent shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable untenantable as a result of such damage, unless said damage was caused by the negligence or intentional wrongful act of Tenant or its officers, employees, agents or invitees. Should Landlord elect to terminate this Lease, the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of Landlord, subject to the prior rights of any mortgagee and except any proceeds received for Tenant’s Property 's Property, or proceeds received from Tenant's business interruption insurance, if any. In the event that are covered under Tenant’s insurancethe Building has been damaged or destroyed by fire or other casualty to the extent that the cost of restoration of the Building will exceed a sum constituting fifty percent (50%) of the total replacement cost thereof, Landlord shall have the right to terminate this Lease provided that notice thereof is given to Tenant not later than sixty (60) days after such damage or destruction and Landlord elects not to restore the Building and terminates all other leases for space in the Building.

Destruction of the Premises or Building. If If, during the Term hereof, the Premises and/or the Building are damaged by reason of fire or other casualty, Tenant shall give immediate notice thereof to Landlord. Subject to the prior rights of any Superior Mortgageemortgagee, Landlord shall restore the Premises and/or the Building to substantially the same condition they were in immediately before said destruction. If Landlord shall provide its opinion within sixty (60) days of the casualty. If, in Landlord's architect's and contractor's reasonable opinion, the restoration can be accomplished within 120 working two hundred seventy (270) calendar days after the date Landlord receives notice of the destruction, such destruction shall not serve to terminate result in a termination of this Lease. If If, in Landlord's architect's and contractor's reasonable opinion, the restoration cannot be performed within the time stated in this sectionparagraph, then within ninety fifteen (9015) days after the parties determine determination or the date the determination was due that the restoration cannot be completed within said time, either party Landlord or Tenant may terminate this Lease upon thirty fifteen (3015) days notice to the other party. If Landlord and/or Tenant fails to terminate this Lease and restoration is permitted under existing laws, Landlord, at its election, may Landlord shall restore the Premises and/or the Building within a reasonable period of timetime not exceeding two hundred seventy (270) calendar days from the date of the casualty, and this Lease shall continue in full force and effect. Landlord shall use diligent effort in restoring the Premises and/or Building. Rent and all other charge shall be abated during the period in which the Premises (or portion thereof on a prorated basis) are rendered untenable untenantable as a result of such damage, unless said damage was caused by the negligence or intentional wrongful act of Tenant or its officers, employees, agents or invitees. Should Landlord elect to terminate this Lease, the entire amount of Landlord’s insurance proceeds shall be and remain the outright property of Landlord, subject to the prior rights of any mortgagee and except any proceeds received for Tenant’s Property that are covered under 's Property, or proceeds received from Tenant’s 's business interruption insurance, if any.