Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty (120) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty (360) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render the entire Premises unusable during said three hundred sixty (360) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the ...
Effect of Damage or Destruction. In the event of damage to or destruction of all or a portion of the Marina or the Slip by fire, flood, earthquake, or any other cause or causes, the Company shall have the option to: (a) treat this Agreement as continuing and repair or restore the Marina or Slip to their condition before such damage or destruction within thirty (30) days of the occurrence of the same or, if insured, within thirty (30) days after the Company receives permission from the insurer to proceed with repair or restoration; or (b) terminate this Agreement and all further obligations hereunder of either party by written notice to Vessel Owner. After the occurrence of such damage or destruction, the Vessel Owner’s obligation to pay fees hereunder shall be abated in an amount which the Company, in its sole and absolute discretion, shall determine to be proportionate to the area of the Slip tendered unfit for use by Vessel Owner during the period of repair or restoration.
Effect of Damage or Destruction. In the event of damage to or destruction of the Marina or the Slip by fire, flood, earthquake, or any other natural cause or causes, the Marina shall have the option to: (1) treat this Agreement as continuing and repair or restore the Marina or Slip to substantially their condition before such damage or destruction within sixty (60) days of the final approval of required permits; or (2) terminate this Agreement and all further obligations hereunder of either party by written notice to Vessel Owner. After the occurrence of such damage or destruction, the Marina shall attempt, within reasonable operational constraints (which shall be within the discretion of the Marina), to provide a temporary slip or temporary wharf space for the Vessel until repairs to the assigned slip have been effected to the Marina's satisfaction. If a temporary slip or wharf space is not so available and the Vessel's assigned slip remains partially useable (even if parts of the slip area are damaged), the Vessel shall remain in or be returned to the slip when the Xxxxxx xxxxx it safe to do so, and in such event the Vessel Owner's obligation to pay fees hereunder shall be abated in an amount which the Marina, in its sole discretion, shall determine to be reasonable and proportionate to the area of the Slip rendered unfit for use by Vessel Owner during the period of repair or restoration.
Effect of Damage or Destruction. In the event of damage to or destruction of all or a portion of the Dry-Storage Facility by fire, flood, earthquake, or any other cause or causes, the Company shall have the option to: (a) treat this Agreement as continuing and repair or restore the Dry-Storage Facility to its condition before such damage or destruction within thirty (30) days of the occurrence of the same or, if insured, within thirty (30) days after the Company receives permission from the insurer to proceed with repair or restoration; or (b) terminate this Agreement and all further obligations hereunder of either party by written notice to Vessel Owner. After the occurrence of such damage or destruction, the Vessel Owner’s obligation to pay fees hereunder shall be abated in an amount which the Company, in its sole and absolute discretion, shall determine to be proportionate to the area of the Dry-Storage Facility tendered unfit for use by Vessel Owner during the period of repair or restoration.
Effect of Damage or Destruction. (a) If all or part of the Building is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as “damages”), but the damages are not material (as defined in Section 9.2 below), Landlord shall repair the damages to the Building within a commercially reasonable time, and this Lease shall remain in full force and effect. If all or part of the Building is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Building or to terminate this Lease. Landlord shall within sixty (60) days after the occurrence of such material damage or destruction notify Tenant in writing of Landlord’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord’s election to terminate this Lease.
Effect of Damage or Destruction. In the event of any material damage to or destruction of the Premises or any Improvements thereon (i.e. the cost of repairing or replacing the same equals or exceeds thirty percent (30%) of the fair market value of the Improvements immediately preceding such damage or destruction) (“Major Destruction”) from any causes whatever, Tenant shall promptly give written notice thereof to Landlord. In the event of any damage or destruction to the Premises, Tenant, at its sole cost and expense, regardless of the availability of insurance proceeds, but subject to Force Majeure and any permitting requirements of governmental authorities, shall promptly take such action as is reasonably necessary to assure that neither the damaged Premises or the damaged Improvements, nor any part thereof, nor any debris or rubble resulting therefrom
Effect of Damage or Destruction. In the event of damage to or destruction of all or a portion of the RV/Boat Storage Facility, or the Storage Space by fire, flood, earthquake, or any other cause or causes, ITRVBS shall have the option to: (a) treat this Agreement as continuing and repair or restore RV/Boat Storage Facility, or Storage Space to their condition before such damage or destruction within thirty (30) days of the occurrence of the same or, if insured, within thirty (30) days after the ITRVBS receives permission from the insurer to proceed with repair or restoration; or (b) terminate this Agreement and all further obligations hereunder of either party by written notice to Owner. After the occurrence of such damage or destruction, Owner’s obligation to pay fees hereunder shall be abated in an amount which ITRVBS, in its sole discretion, shall determine to be proportionate to the portion of the Storage Space tendered unfit for use by Owner during the period of repair orrestoration.
Effect of Damage or Destruction. In the event of damage to or destruction of the Marina or the Slip by fire, flood, earthquake, or any other cause or causes, the Marina shall have the option to: (1) treat this Agreement as continuing and repair or restore the Marina or Slip to their condition before such damage or destruction within thirty (30) days of the occurrence of the same or, if insured, within thirty (30) days after the Marina received permission from the insurer to proceed with repair or restoration; or (2) terminate this Agreement and all further obligations hereunder of either party by written notice to Vessel Owner. After the occurrence of such damage or destruction, the Vessel Owner's obligation to pay fees hereunder shall be abated in an amount which the Marina, in its sole discretion, shall determine to be proportionate to the area of the Slip tendered unfit for use by Vessel Owner during the period of repair or restoration.
Effect of Damage or Destruction. Beginning with the commencement of construction in the event of any damage to or destruction of the Park or Baseball Facility or any improvements thereon from any causes whatever, [“Proposer/ Operator”] shall promptly give written notice thereof to City. [“Proposer/ Operator”] shall promptly rebuild, repair or restore (hereinafter, called “ restore” or “ restoration”) the Baseball Facility and improvements to its condition immediately prior to such damage or destruction or, if during construction of Baseball Facility, to the contemplated , improved or renovated conditions. All such restoration shall be performed in accordance with the requirements of Article IV. [“Proposer/ Operator”]’ duty to restore any damage or destruction of the Baseball Facility or any improvements thereon shall not be conditioned upon the availability of any insurance proceeds to [“Proposer/ Operator”] from which the cost of restoration may be paid. Any [“Proposer/ Operator”]’ insurance proceeds payable by reason of such damage or destruction shall be made available to pay the cost of such restoration; provided, however, in the event [“Proposer/ Operator”] is in default under the terms of this Agreement at the time such damage or destruction occurs, City may elect to terminate this Agreement and City shall thereafter have the right to receive and retain all insurance proceeds payable as a result of such damage or destruction. Insurance proceeds in excess of the cost of such restoration shall be treated as revenue from the Baseball Facility. This subsection does not apply to insurance or self-insurance reserves maintained by City.
Effect of Damage or Destruction. 11.1.1. In the event of any material damage to or destruction of the Property or any improvements thereon (i.e. the cost of repairing or replacing the same equals or exceeds thirty percent (30%) of the replacement value of Tenant’s Estate immediately preceding such damage or destruction) from any causes whatever, Tenant shall promptly give written notice thereof to Landlord. At its sole cost and expense, regardless of the availability of insurance proceeds, but subject to unavoidable delays and any permitting requirements of governmental authorities, promptly take such action as is reasonably necessary to assure that neither the damaged Property or the damaged Improvements, nor any part thereof, nor any debris or rubble resulting therefrom (i) impairs or impedes public access through and across the public streets and sidewalks adjacent to the Property, or (ii) constitutes a nuisance or otherwise presents a health or safety hazard. Tenant may, its sole discretion, repair or restore the Property or improvements as nearly as possible to its condition immediately prior to such damage or destruction or construct on the Property such other improvements as may be allowed by law. All such repair and restoration shall be performed in accordance with the requirements of Section 6 above. Unless this Lease is so terminated by mutual agreement, there shall be no abatement or reduction in Base Rent during such repair and restoration. Any insurance proceeds from Tenant’s insurance payable by reason of such damage or destruction shall, subject to the rights of any Leasehold Mortgagee under any Leasehold Mortgage, be made available to pay the cost of such reconstruction. Insurance proceeds in excess of the cost of such reconstruction shall be paid to Tenant.
