Failure to Commence Repairs. If the Work shall not have been commenced within one hundred eighty (180) days of the date of the casualty or other occurrence, or such longer period as may be reasonably required to adjust the insurance, achieve final plans and obtain all necessary Permits, or if such Work after commencement shall not proceed with due diligence (any Force Majeure event excepted), Lessor may terminate this Lease pursuant to Article 16. On such termination, the Insurance Proceeds received by Lessee shall be used to the extent necessary to demolish and remove the Permitted Improvements and any other structures on the Premises and to restore the Premises, except as otherwise specified in Section 6.1 of this Lease. Upon the completion of such activities, Lessee shall have no further obligation to pay Lessor the Annual Lease Payment or any other amount under this Lease (other than payments due as of the effective date of termination and payments required by any provisions of this Lease that expressly survive termination).
Appears in 4 contracts
Samples: Site Lease Agreement, Site Lease Agreement, Site Lease Agreement
