Common use of Fire and Other Casualty Clause in Contracts

Fire and Other Casualty. In the event the Leased Premises is partially or totally destroyed or damaged by fire or other casualty, Lessor may, at its option, terminate this Agreement, and in such event, the Base Rental hereunder shall be prorated for such month during which Lessor's termination occurs and shall not be due thereafter. In the event the Lessor does not so terminate this Agreement, then, subject to the following provisions of this Section 14, Lessor may proceed as soon as is reasonably practicable, at its sole cost and expense to the extent of Lessor's insurance proceeds available, if any, to repair and restore the Leased Premises to substantially the same condition as that before the damage occurred; provided, further, the Base Rental due from Lessee hereunder shall be abated during the period of restoration to the extent of the unusable portion of the Leased Premises. In the event Lessor does not complete such repair and restoration within six (6) months from the date of damage or destruction, Lessee may terminate this Agreement. In the event the damage or destruction to the Leased Premises through fire or other casualty is directly or indirectly attributable to any act of fault or negligence on the part of Lessee, and/or its agents, employees, licensees, or invitees, then (i) such damage or destruction to the Leased Premises, the Building, and/or the Property shall be promptly repaired by Lessee, at its sole cost and expense; (ii) the Base Rental shall not xxxxx during such period of restoration and refurbishment; (iii) Lessee shall not be entitled to terminate this Agreement; and

Fire and Other Casualty. In the event the Leased Premises is partially or totally destroyed or damaged by fire or other casualty, Lessor may, at its option, terminate this Agreement, and in such event, the Base Rental hereunder shall be prorated for such month during which Lessor's termination occurs and shall not be due thereafter. In the event the Lessor does not so terminate this Agreement, then, subject to the following provisions of this Section 14, Lessor may proceed as soon as is reasonably practicable, at its sole cost and expense to the extent of Lessor's insurance proceeds available, if any, to repair and restore the Leased Premises to substantially the same condition as that before the damage occurred; provided, further, the Base Rental due from Lessee hereunder shall be abated during the period of restoration to the extent of the unusable portion of the Leased Premises. In the event Lessor does not complete such repair and restoration within six (6) months from the date of damage or destruction, Lessee may terminate this Agreement. In the event the damage or destruction to the Leased Premises through fire or other casualty is directly or indirectly attributable to any act of fault or negligence on the part of Lessee, and/or its agents, employees, licensees, or invitees, then (i) such damage or destruction to the Leased Premises, the Building, and/or the Property shall be promptly repaired by Lessee, at its sole cost and expense; (ii) the Base Rental shall not xxxxx abate during such period of restoration and refurbishment; (iii) Lessee shall Lesxxx xhall not be entitled to terminate this Agreement; and

Fire and Other Casualty. In the event the Leased Premises is partially or totally destroyed or damaged by fire or other casualty, Lessor may, at its option, terminate this Agreement, and in such event, the Base Rental hereunder shall be prorated for such month during which Lessor's termination occurs and shall not be due thereafter. In the event the Lessor does not so terminate this Agreement, then, subject to the following provisions of this Section 14, Lessor may proceed as soon as is reasonably practicable, at its sole cost and expense to the extent of Lessor's insurance proceeds available, if any, to repair and restore the Leased Premises to substantially the same condition as that before the damage occurred; provided, further, the Base Rental due from Lessee hereunder shall be abated during the period of restoration to the extent of the unusable portion of the Leased Premises. In the event Lessor does not complete such repair and restoration within six (6) months from the date of damage or destruction, Lessee may terminate this Agreement. In the event the damage or destruction to the Leased Premises through fire or other casualty is directly or indirectly attributable to any act of fault or negligence on the part of Lessee, and/or its agents, employees, licensees, or invitees, then (i) such damage or destruction to the Leased Premises, the Building, and/or the Property shall be promptly repaired by Lessee, at its is sole cost and expense; (ii) the Base Rental shall not xxxxx abate during such period of restoration and refurbishment; (iii) Lessee shall Lesxxx xhall not be entitled to terminate this Agreement; and

Fire and Other Casualty. In the event the Leased Premises is partially or totally destroyed or damaged by fire or other casualty, Lessor may, at its option, terminate this Agreement, and in such event, the Base Rental hereunder shall be prorated for such month during which Lessor's termination occurs and shall not be due thereafter. In the event the Lessor does not so terminate this Agreement, then, subject to the following provisions of this Section 14, Lessor may proceed as soon as is reasonably practicable, at its sole cost and expense to the extent of Lessor's insurance proceeds available, if any, to repair and restore the Leased Premises to substantially the same condition as that before the damage occurred; provided, further, the Base Rental due from Lessee hereunder shall be abated during the period of restoration to the extent of the unusable portion of the Leased Premises. In the event Lessor does not complete such repair and restoration within six (6) months from the date of damage or destruction, Lessee may terminate this Agreement. In the event the damage or destruction to the Leased Premises through fire or other casualty is directly or indirectly attributable to any act of fault or negligence on the part of Lessee, and/or its agents, employees, licensees, or invitees, then (i) such damage or destruction to the Leased Premises, the Building, and/or the Property shall be promptly repaired by Lessee, at its sole cost and expense; (ii) the Base Rental shall not xxxxx abate during such period of restoration and refurbishment; (iii) Lessee shall Lessxx xxall not be entitled to terminate this Agreement; and

Fire and Other Casualty. In the event of total or partial destruction of the Leased Premises is partially or totally destroyed or damaged by fire or other casualtycasualty insured under the fire and extended coverage insurance provided by Lessor in accordance with the provisions of paragraph 14 hereof, Lessor mayagrees, to the extent insurance proceeds are sufficient, to promptly restore and repair the Leased Premises at its option, terminate this Agreement, and in such event, the Base Rental hereunder shall be prorated for such month during which Lessor's termination occurs and shall not be due thereafter’s expense. In the event that the Leased Premises are so destroyed that they cannot be repaired or rebuilt within one hundred fifty (150) days after the date of the damage or destruction, or in the event insurance proceeds are unavailable or insufficient to restore the Leased Premises, and Lessor does not so terminate this Agreement, then, subject elect by notice to Lessee within forty-five (45) days following the following provisions occurrence of this Section 14, Lessor may proceed as soon as is reasonably practicable, at its sole cost such casualty to restore and expense to the extent of Lessor's insurance proceeds available, if any, to repair and restore the Leased Premises from Lessor’s own funds, then either the Lessor or the Lessee may, within sixty (60) days following the date of such occurrence by written notice to substantially the same condition as that before other party, terminate and cancel this Lease. Any proceeds from fire and extended coverage insurance policies not utilized by Lessor in restoring or repairing the damage occurred; provided, further, Leased Premises shall become the Base Rental due from Lessee hereunder sole property of the Lessor. Rent shall be abated proportionately xxxxx during the period of restoration to the extent of the unusable portion of time that the Leased Premises, or a part thereof, are unusable by reason of any such damage thereto. In the event Lessor does not complete such repair and restoration within six (6) months from of termination of this Lease pursuant to this paragraph, rent shall be pro-rated to the date of damage or destructionsuch casualty, Lessee may terminate this Agreement. In the event the damage or destruction to the Leased Premises through fire or other casualty is directly or indirectly attributable to and any act of fault or negligence on the part of Lessee, and/or its agents, employees, licensees, or invitees, then (i) such damage or destruction to the Leased Premises, the Building, and/or the Property additional prepaid rent shall be promptly repaired by refunded to Lessee, at its sole cost and expense; (ii) the Base Rental shall not xxxxx during such period of restoration and refurbishment; (iii) Lessee shall not be entitled to terminate this Agreement; and.