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. 10.1 In the event the Building or the leased premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, Lessor may, at its option, restore the Building or leased premises to as near their previous condition as is reasonably possible, and in the meantime the rent shall be abated in the same proportion as the untenantable portion of the leased premises bears to the whole thereof; but unless Lessor, within sixty (60) days after the happening of any such casualty, shall notify Lessee of its election to so restore, this lease shall thereupon terminate and end. Such restoration by Lessor shall not include replacement of furniture, equipment or other items that do not become part of the Building or any improvements to the leased premises in excess of those provided for in the allowance
10.2 If Lessee is deprived of elevator access to the office portion of the leased premises as a result of a casualty, all rent shall be abated as to said office portion during the duration of the period in which such access is unavailable.
10.3 Notwithstanding the foregoing, if the casualty in question can be repaired, rebuilt or replaced (i.e., restored) within one hundred eighty (180) days from the date of the casualty (without working overtime), Lessor shall be required to so restore. If Lessor does not warrant to Lessee (a) within sixty (60) days from the date of the casualty, or (b) within ten (10) days after Lessor’s receipt of written request from Lessee which references this Section 10 and asks if such notice will be issued (Lessee’s request to be given not earlier than fifty (50) days after the date of casualty), whichever is later, that Lessor will have completed the restoration work within one hundred eighty (180) days from the date of the casualty, and if the casualty materially disrupts the conduct of Lessee’s business at the office portion, branch bank portion or other portions (if any) of its leased premises, Lessee shall be entitled to terminate this entire lease (even if the material disruption is only in the branch bank portion) by giving notice of termination to Lessor on or before that date which is one hundred twenty (120) days from the date of the casualty or three (3) business days after Lessee has received written notice from Lessor that Lessor has received its building permit for the restoration work, whichever occurs first. If Lessor elects or is required to restore, all parties shall proceed diligently to en...
Fire or Other Casualty. 7.1.1 Subject to the provisions of Section 7.1.2 hereof, and the terms of the Condominium Documents, in the event during the Term hereof the East Unit shall be partially damaged (as distinguished from “substantially damaged” as such term is hereinafter defined) by fire, explosion, casualty or any other occurrence covered or as may be required to be covered, as herein provided, by Landlord’s insurance, or by such casualty plus required demolition, or by action taken to reduce the impact of any such event, Landlord shall forthwith proceed to repair such damage and restore the East Unit, or so much thereof as was originally constructed or delivered by Landlord to substantially its condition at the time of such fire, explosion, casualty or occurrence, provided that Landlord shall not be obligated to expend for such repair an amount in excess of the insurance proceeds recovered as a result of such damage and, further provided that Tenant is not then in default of any of its obligations under this Lease beyond any applicable cure period. Landlord shall not be responsible for any delay which may result from any cause beyond Landlord’s reasonable control.
7.1.2 If, however, (i) the East Unit, should be damaged or destroyed (a) by fire or other casualty (1) to the extent of 50% or more of the cost of replacement, or (2) so that 50% or more of the principal area contained in the Premises shall be rendered unusable for the purposes originally constructed, or (b) by any casualty other than those covered by insurance policies required to be maintained by Landlord under this Lease (hereinafter “substantially damaged”), or (ii) the East Unit, or the Premises shall be substantially damaged in whole or in part during the last 2 years of the Term, or (iii) there shall be damage to the Premises of a character as cannot reasonably be expected to be repaired within 12 months from the date of casualty, or (iv) such restoration involves the demolition of or repair of damage to 50% percent or more of the Premises, or (v) applicable law requires the demolition of the East Unit or forbids the rebuilding of the damaged portion of the East Unit, except for restrictions of the zoning code for which relief can be obtained, or (vi) the Condominium Documents requires the demolition of the East Unit or forbids the rebuilding of the damaged portion of the East Unit; or (vii) such restoration requires repairs in an amount in excess of the insurance proceeds recovered or recoverable, then La...
Fire or Other Casualty. Tenant shall give Landlord prompt notice of any material fire or casualty occurring on or to the Premises. If any part of the Premises is damaged or destroyed by fire or other casualty, the rent shall be apportioned and suspended until the Premises are restored, taking into account the proportion of the Premises rendered untenantable. Promptly following such damage or destruction, (a) if the damage or destruction is total or constitutes a major structural injury to the building or the Premises, then either party may, at its option, terminate this Lease by giving written notice to the other, in which event this Lease shall terminate on the date of such damage or destruction with the same effect as if the full term had expired on that date; (b) if the damage or destruction is not total or does not constitute a major structural injury to the building or Landlord does not elect to terminate as permitted in this Section 9, Landlord shall, as soon as practicable, undertake restoration and repair work necessary to restore the Premises to the same condition as existed prior to the damage or destruction as nearly as reasonable. Notwithstanding anything to the contrary contained herein, but without limitation to Tenant's rights, if such restoration or repair is not complete within fifteen(15) days after the casualty occurs, Tenant shall have the right, upon written notice to Landlord, to terminate this Lease, in which event, this Lease shall terminate on the date of such damage or destruction with the same effect as if the full Term had expired on that date.
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).
