Common use of FIRE DAMAGE Clause in Contracts

FIRE DAMAGE. 11.1 In case of fire, the RESIDENT shall immediately give notice thereof to THE BEC, who shall thereupon cause the damages to that portion of the building hereby leased to be repaired, but if the premises be so damaged that THE BEC shall decide not to rebuild, the term shall cease and the accrued occupancy shall be paid up to the time of said fire. In case, however, the destruction of the premises by fire shall be only partial and a portion thereof shall during the period of repairs be fit for occupancy of the RESIDENT for the purpose for which said premises are leased, then the occupancy shall be equitably apportioned and paid for the part so fit for occupancy.

FIRE DAMAGE. 11.1 In case of fire, the RESIDENT shall immediately give notice thereof to THE BECCENTER, who shall thereupon cause the damages to that portion of the building hereby leased to be repaired, but if the premises be so damaged that THE BEC CENTER shall decide not to rebuild, the term shall cease and the accrued occupancy shall be paid up to the time of said fire. In case, however, the destruction of the premises by fire shall be only partial and a portion thereof shall during the period of repairs be fit for occupancy of the RESIDENT for the purpose for which said premises are leased, then the occupancy shall be equitably apportioned and paid for the part so fit for occupancy.