Fire or Other Casualty. 13.1 Tenant immediately shall deliver written notice to Landlord of any damage caused to the Building by fire or other casualty.
13.2 If the Building shall be damaged or destroyed by fire or other casualty and Landlord does not elect to terminate this Lease as hereinafter provided, Landlord shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the Building, and this Lease shall continue in full force and effect. If the Building shall be destroyed or materially damaged, then Landlord may elect either to terminate this Lease as hereinafter provided or to proceed to rebuild and repair the Building. If Landlord elects to terminate this Lease it shall give written notice of such election to Tenant within ninety (90) days after the occurrence of such casualty, and this Lease shall terminate as of the date of such notice. If Landlord should not elect to terminate this Lease, Landlord shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the Premises; provided, however, that if any Holder (defined below) of an Encumbrance (defined below) requires that the insurance proceeds be applied under such Encumbrance as a result of any such casualty, Landlord shall have no obligation to rebuild and this Lease shall terminate upon notice to Tenant. So long as the casualty does not result from any willful or negligent action or inaction of Tenant or Tenant’s agents, employees, customers, contractors, or invitees, Landlord shall allow Tenant a reduction of Base Rent during the time the Building is unfit for occupancy, which reduction shall be based upon the proportion of square feet of the Building unfit for occupancy to the total square feet in the Building. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Building shall be for the sole benefit of the party carrying such insurance and under its sole control.
13.3 Landlord’s obligation to repair shall be limited to the restoration of the Building, and further shall be limited to the extent of insurance proceeds available to Landlord for such restoration. In no event shall Landlord be obligated to rebuild, or otherwise be liable for, any damage to Tenant’s fixtures, signs, furnishings, equipment or personal property within the Building.
13.4 Tenant agrees that during any period of reconstruction or repair of the Building, Tenant will continue the operation of its business within the Building to the extent prac...
Fire or Other Casualty. If all or part of the Leased Premises is rendered untenantable by damage from fire or other casualty which in Prime Lessor's reasonable opinion cannot be substantially repaired (employing normal construction methods without overtime or other premium) under applicable laws and governmental regulations within (60 days for 1 year lease, 90 days for 3 year lease, 120 days for 5 year lease) from the date of the fire or other casualty, then either Prime Lessor or Subtenant may elect to terminate this Sublease Agreement as of the date of such casualty by written notice delivered to the other not later than ten (10) days after notice of such determination is given by Prime Lessor. If in Prime Lessor's reasonable opinion the damage caused by the fire or casualty can be substantially repaired (employing normal construction methods without overtime or other premium) under applicable laws and governmental regulations within (60 days for 1 year lease, 90 days for 3 year lease, 120 days for 5 year lease) from the date of the fire or other casualty, or if neither party exercises its right to terminate under the previous sentence, Prime Lessor shall, but only to the extent that insurance proceeds are available for such purpose, repair such damage, other than damage to furniture, furnishings, equipment, trade fixtures or other personal property which does not belong to the Prime Lessor, all of which shall be repaired or replaced forthwith by Subtenant at its own expense. During any period of restoration, the Rent payable by Subtenant shall be proportionately reduced to the extent that the Leased Premises are thereby rendered untenantable from the date of casualty until substantial completion by Prime Lessor of the repairs to the Leased Premises (or the part thereof rendered untenantable) or until Subtenant again uses the Leased Premises (or the part thereof rendered untenantable) in its business, whichever first occurs. Notwithstanding anything to the contrary in this paragraph 28.1, if all or a substantial part (whether or not including the Leased Premises) of the Center is rendered untenantable by damage from fire or other casualty to such a material extent that in the opinion of Prime Lessor the Center must be totally or partially demolished, whether or not to be reconstructed in whole or in part, Prime Lessor may elect to terminate this Sublease Agreement as of the date of the casualty (or on the date of notice if the Leased Premises are unaffected by such casualty) by...
Fire or Other Casualty. A. If the Premises shall be damaged by fire, the elements, accident or other casualty ("Casualty"), and the Premises are not rendered untenantable in whole or in part, Landlord shall promptly coordinate such damage to be repaired (but only with respect to those items to be provided by it under Exhibits "A" and "B"), and the Annual Basic Rent and other charges shall be abated proportionately as to the portion of the Premises rendered untenantable from the date of such Casualty until the Premises are rendered entirely tenantable. If, as the result of Casualty, the Premises are rendered wholly untenantable, subject to the provision of Section 23(B), the Annual Basic Rental and other charges shall be abated from the date of such Casualty until the Premises have been rendered fully tenantable. In the event of such Casualty, Landlord shall not be liable for interruption to Tenant's business or for damage to on replacement or repair of Tenant's personal property, including inventory, trade fixtures, floor coverings, furniture and other property removable by Tenant under the provisions of this Lease or to Tenant's leasehold improvements.
B. If the Premises are (a) rendered wholly untenantable, or (b) damaged as a result of any cause which is not covered by Landlord's insurance or is damaged in whole or in part during the last three (3) years of the Term, or (c) all repairs to restore the Building and the Premises to its condition prior to the occurrence of the damage cannot be, or are not, completed within six (6) months of the occurrence of the damage, or (d) if the Building is damaged to the extent of fifty (50%) percent or more of the total square footage, then in any event, Landlord or Tenant may immediately terminate this Lease by giving to the other party notice. Annual Basic Rent and other charges shall be adjusted as of the date of such Casualty.
C. If the Building is so substantially damaged that it is reasonably necessary to demolish same for the purpose of reconstruction, Landlord or Tenant may terminate this Lease by giving to the other party notice within ninety (90) days after the
Fire or Other Casualty a. In the event of minor damage to the Premises by fire or other cause which renders the premises untenantable in part but Tenant is able to conduct its business therein, and Tenant continues to occupy them in part, the rent shall be apportioned and reduced from the date the damage occurs in the proportion that the unoccupied portion of the Premises bears to the entire Premises until the damage has been repaired.
b. In the event of substantial, damage (including destruction) to the Premises by fire or any other cause which renders the Premises untenantable in whole or in such part that it is impractical for Tenant to conduct its business therein, the rent shall wholly abate and be apportioned from the date the damage occurs until the dxxxxx has been repaired.
c. In the event of either minor or substantial damages, unless this Lease is terminated as hereafter provided in Paragraph 0 hereof, Landlord shall commence within ten (10) days after the date the damage occurs (or within ten (10) days after receipt of such notice is given) to repair the Premises to the condition in which they were immediately prior to such damage, and Landlord shall complete, such repair with due diligence and dispatch. If the damage is not repaired within a reasonable time or in any event within sixty (60) days from the date the damage occurs in the case of minor, damage and one hundred twenty (120) days from the date the damage occurs in the case of substantial damage, Tenant shall have the right to terminate this Lease by giving Landlord written notice (served no later than thirty (30) days after such right to cancel and terminate arises) of termination. Tenant may terminate this Lease immediately in the event that the damage cannot be repaired within one hundred twenty (120) days and Tenant provides to Landlord the written opinion of a registered professional engineer so stating.
d. In the event the Premises are damaged at any time by fire or any other cause to the extent of fifty percent (50%) or more of the replacement value thereof as of the date such damage occurs, this Lease may be terminated at the election of Landlord by giving notice in writing of such election to Tenant within twenty (20) days from the date the damage occurs. Upon such termination, any unearned rent or other payments and deposits paid in advance beyond the date of the damage shall immediately be refunded to Tenant, and the Security instrument shall be returned to Tenant.
Fire or Other Casualty. If in our judgment, the Premises, the Building or the Apartment Community is materially damaged by Fire or other casualty, we may terminate this Lease Agreement within a reasonable time after such determination by giving you written notice of such termination. If we determine that material damage has not been caused to the Premises, the Building or the Apartment Community, or, if we have elected not to terminate this Lease Agreement, we will, within a reasonable time, rebuild the damaged Premises. During such reconstruction we may provide temporary housing within the Premises or within a reasonable distance of the Premises and you will have no right to withhold or offset any part of your Rent. During such reconstruction, if we do not provide temporary housing, we will make a reasonable reduction of Rent for the unusable portion of the Premises unless you or your guest is the cause of the fire or other casualty.
Fire or Other Casualty. If in LANDLORD’S reasonable judgment, the UNIT, the Bedroom, or the PROPERTY is materially damaged by fire or other casualty, LANDLORD may terminate this LEASE within a reasonable time after such determination by giving TENANT written notice of such termination. If LANDLORD does terminate the LEASE, and TENANT did not cause the loss, LANDLORD will refund prorated, prepaid RENT and the SECURITY DEPOSIT, less lawful deductions. If LANDLORD determines that material damage has not been caused to the UNIT, the Bedroom or the PROPERTY, or, if LANDLORD has elected not to terminate this LEASE, LANDLORD will, within a reasonable time, rebuild the damaged improvements, and this LEASE shall remain in full force and effect.
Fire or Other Casualty. If in the University’s judgment the Premises, or the Apartment Community is materially damaged by Fire or other casualty, the University may terminate this Lease within a reasonable time after written notice to Resident. If the University terminates this Lease, and the Resident was not the cause of the fire or other casualty, the University will refund prorated, prepaid Rent and the Security Deposit, less deductions. If the University determines that material damage has not been caused to the Premises or the Apartment Community, or, if the University elects not to terminate this Lease, the University will rebuild the damaged improvements. During such reconstruction, there shall be a reasonable reduction of the Rent for the unusable portion of the Premises or the Apartment Community.
Fire or Other Casualty. In the event that the Premises, the improvements thereon, or any portions thereof, are damaged by fire or other casualty during the Term, and if in Tenant’s sole judgment, the damage is of such nature or extent that it is uneconomical to repair and restore the Premises or the improvements thereon, as the case may be, Tenant may terminate this Lease by written notice to Landlord. The proceeds of any casualty insurance policy maintained by Tenant shall be payable to Tenant.
Fire or Other Casualty. Except as herein provided, damage to the Assets by fire or other casualty between the Effective Date and the date of Closing shall not impair the obligations of either party under this Agreement. In the event that the Property is damaged by fire or other casualty, the net proceeds of any insurance collected prior to Closing that have not been used by Seller to pay for repairs or securing the Assets or paid to a third party assisting Seller in regard to the casualty, will be credited to Purchaser at Closing or paid to Purchaser within fifteen (15) days of Seller’s receipt after Closing. As between Seller and Purchaser, Purchaser shall be responsible for the making of any repairs which Purchaser elects to have made. The amount of any unpaid claims will not, however, be credited on account of the Purchase Price. Notwithstanding the foregoing, in the event of a loss valued at more than fifty percent (50%) of the Purchase Price either Seller or Purchaser may within 10 days following such loss, terminate this Agreement by written notice to the other party, in which event the Xxxxxxx Money shall be returned to Purchaser subject to the provisions of this Agreement.
Fire or Other Casualty. The Managers and Tenant agree that should the premises be destroyed by fire or other casualty to become unfit for human habitation, this lease shall thereby end, and the Managers will refund any unused balance of rent to the Tenant, unless the casualty was caused by negligence or misconduct on the part of the Tenant or the Tenant's guest(s).
