Common use of Fire or Other Casualty Losses Clause in Contracts

Fire or Other Casualty Losses. In the event the Premises are damaged or destroyed or rendered partially untenantable for their then use by fire or other casualty, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) repair and/or rebuild the Premises as promptly as possible, provided that the proceeds from Lessee's insurance policies are available to Lessee and sufficient in amount to fully pay all costs of repair or rebuilding. Lessee's obligation hereunder is merely to restore the Premises to substantially the same condition as existed immediately prior to the happening of the casualty and shall not extend to the repair or replacement of any improvements, additions, fixtures, installations or exterior signs of the Lessee. If such fire or other casualty was not the fault of the Lessee and as a result of such partial destruction or damage there is substantial interference with the operation of Lessee's business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion of the Premises destroyed or rendered untenantable bears to the total Premises. Such abatement shall continue for the period commencing with such damage or destruction and ending with the completion by the Lessor of the work of repair and/or reconstruction, if Lessee elects to complete such work. If the damage or casualty was caused by the fault of the Lessee, there shall be no abatement of rent. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%) or more of the buildings situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee shall have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective as of the date of such casualty, (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, Lessor may in such event retain the casualty insurance proceeds with respect to the Premises. Lessee shall either exercise its option to purchase, give the Lessor notice of termination, or commence repair or rebuilding of the Premises within forty-five (45) days after the happening of such casualty. If Lessee does not elect to terminate this lease, Lessee shall repair and/or rebuild the Premises as promptly as possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth above.

Fire or Other Casualty Losses. In the event the Premises are damaged or destroyed or rendered partially untenantable for their then use by fire or other casualtycasualty without the fault of Lessee, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) Lessor shall repair and/or rebuild the Premises same as promptly as possible, provided that the proceeds from Lessee's insurance policies are available to Lessee and sufficient in amount to fully pay all costs of repair or rebuilding. LesseeLessor's obligation hereunder is merely to restore the Premises to substantially the same condition as existed immediately prior to the happening of the casualty and shall not extend to the repair or replacement of any improvements, additions, fixtures, installations or exterior signs of the Lessee. If such fire or other casualty was not the fault of the Lessee and as a result of such partial destruction or damage there is substantial interference with the operation of Lessee's business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion of the Premises destroyed or rendered untenantable bears to the total Premises. Such abatement shall continue for the period commencing with such damage or destruction and ending with the completion by the Lessor of the work of repair and/or reconstruction, if Lessee elects Lessor is obligated to complete such work. If the damage or casualty was caused by the fault of the Lessee, there shall be no abatement of rent. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%) or more of the buildings situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee Lessor shall have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective as of the date of such casualty, (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, Lessor may in such event casualty and retain the casualty insurance proceeds with respect by giving to the Premises. Lessee shall either exercise its option to purchase, give the Lessor notice of termination, or commence repair or rebuilding of the Premises within forty-five (45) days after the happening of such casualtycasualty written notice of such termination. If Lessee Lessor does not elect to terminate this lease, Lessee Lessor shall repair and/or rebuild the Premises as promptly as possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth above.

Fire or Other Casualty Losses. In the event the Premises are damaged or destroyed or rendered partially untenantable for their then use by fire or other casualtycasualty without the fault of Lessee, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) Lessor shall repair and/or rebuild the Premises same as promptly as possible, provided that the proceeds from Lessee's insurance policies are available to Lessee Lessor and sufficient in amount to fully pay all costs of repair or rebuilding. LesseeLessor's obligation hereunder is merely to restore the Premises to substantially the same condition as existed immediately prior to the happening of the casualty and shall not extend to the repair or replacement of any improvements, additions, fixtures, installations or exterior signs of the Lessee. If such fire or other casualty was not the fault of the Lessee and as a result of such partial destruction or damage there is substantial interference with the operation of Lessee's business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion of the Premises destroyed or rendered untenantable bears to the total Premises. Such abatement shall continue for the period commencing with such damage or destruction and ending with the completion by the Lessor of the work of repair and/or reconstruction, if Lessee elects Lessor is obligated to complete such work. If the damage or casualty was caused by the negligence or fault of the Lessee, its employees, agents or invitees, there shall be no abatement of rent. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%) or more of the buildings situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee either party shall have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective as of the date of such casualty, (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, casualty and Lessor may in such event retain the casualty insurance proceeds with respect to the Premisesproceeds. Lessee The terminating party shall either exercise its option to purchase, give the Lessor other party notice of termination, or commence repair or rebuilding of the Premises termination within forty-five (45) days after the happening of such casualty. If Lessee does not elect neither party elects to terminate this lease, Lessee Lessor shall repair and/or rebuild the Premises as promptly as possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth aboveabove and subject to the insurance proceeds covering the cost of such repair and/or rebuilding.

Fire or Other Casualty Losses. In the event the Premises are damaged or destroyed or rendered partially untenantable for their then use by fire or other casualtycasualty without the fault of Lessee, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) Lessor shall repair and/or andlor rebuild the Premises same as promptly as possible, provided that the proceeds from Lessee's insurance policies are available to Lessee and sufficient in amount to fully pay all costs of repair or rebuilding. LesseeLessor's obligation hereunder is merely to restore the Premises to substantially the same condition as existed immediately prior to the happening of the casualty casually and shall not extend to the repair or replacement of any improvements, additions, fixtures, installations or exterior signs of the Lessee. If such fire or other casualty was not the fault of the Lessee and as a result of such partial destruction or damage there is substantial interference with the operation of Lessee's business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion of the Premises destroyed or rendered untenantable bears to the total Premises. Such abatement shall continue for the period commencing with such damage or destruction and ending with the completion by the Lessor of the work of repair and/or reconstruction, if Lessee elects Lessor is obligated to complete such work. If the damage or casualty was caused by the fault of the Lessee, there shall be no abatement of rent. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%) or more of the buildings situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee Lessor shall have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective as of the date of such casualty, (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, Lessor may in such event casualty and retain the casualty insurance proceeds with respect by giving to the Premises. Lessee shall either exercise its option to purchase, give the Lessor notice of termination, or commence repair or rebuilding of the Premises within forty-five (45) days after the happening of such casualtycasualty written notice of such termination. If Lessee Lessor does not elect to terminate this lease, Lessee Lessor shall repair and/or rebuild the Premises as promptly as possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth above.

Fire or Other Casualty Losses. In the event the Premises are damaged or destroyed or rendered partially untenantable for their then use by fire or other casualtycasualty with or without the fault of Lessee, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) Lessor shall repair and/or rebuild the Premises same as promptly as possible, provided that the proceeds from Lessee's ’s insurance policies are available to Lessee Lessor and sufficient in amount to fully pay all costs of repair or rebuilding. Lessee's Lessor’s obligation hereunder is merely to restore the Premises to substantially the same condition as existed immediately prior to the happening of the casualty and shall not extend to the repair or replacement of any improvements, additions, fixtures, installations or exterior signs of the Lessee. If such fire or other casualty was not the fault of the Lessee and as a result of such partial destruction or damage there is substantial interference with the operation of Lessee's ’s business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion of the Premises destroyed or rendered untenantable bears to the total Premises. Such abatement shall continue for the period commencing with such damage or destruction and ending with the completion by the Lessor of the work of repair and/or reconstruction, if Lessee elects Lessor is obligated to complete such work. If In the damage event that the Lessor believes that the insurance proceeds will not be sufficient to repair of restore the Premises following a casualty it shall so inform the Lessee in writing and the Lessee shall have thirty (30) days from receipt of such notice to either (i) elect to terminate this lease or casualty was caused by (ii) elect to receive the fault insurance proceeds and undertake the Lessor’s obligations with respect to restoration/repair of the Lessee, there shall be no abatement of rentPremises. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%) or more of the buildings situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee shall have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective as of the date of such casualty, (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, Lessor may in such event retain the casualty insurance proceeds with respect by giving to the Premises. Lessee shall either exercise its option to purchase, give the Lessor notice of termination, or commence repair or rebuilding of the Premises within forty-five thirty (4530) days after the happening of such casualtycasualty written notice of such termination. If Lessee does not elect to terminate this lease, Lessee Lessor shall repair and/or rebuild the Premises as promptly as possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth above.

Fire or Other Casualty Losses. In If any improvement or improvements located on the event the Premises are demised premises should be damaged or destroyed or rendered partially untenantable for their then use during the Sublease Term by fire or other casualtyinsurable casualty without the fault of Tenant, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) Landlord shall repair and/or rebuild the Premises as promptly as possible, provided that the proceeds from Lessee's insurance policies are available to Lessee and sufficient in amount to fully pay all costs of repair or rebuilding. Lessee's obligation hereunder is merely to restore the Premises same to substantially the same condition as existed such improvement or improvements was in immediately prior to such damage or destruction, except as in this Article provided. Landlord's obligation under this Article shall in no event exceed the happening scope of the casualty and work required to be done by Landlord in the original construction of any such improvement. Landlord shall not extend to the repair be required to, but Tenant, unless otherwise agreed by Landlord, may with due dispatch replace or replacement of restore forthwith any improvementstrade fixture, additionssigns, fixtures, or other installations or exterior signs of the Lesseetheretofore installed by Tenant. If Basic Rent payable under this Sublease shall be abated if such fire or other insurable casualty was not renders the Original Building unusable by Tenant, but if any such casualty is caused by the fault of the Lessee and as a result of such partial destruction or damage Tenant, there is substantial interference with the operation of Lessee's business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion no abatement of the Premises destroyed or rendered untenantable bears to the total Premisesrent. Such abatement shall continue for the period commencing with such damage or destruction casualty and ending with the completion by the Lessor Landlord of the such work of or repair and/or reconstructionreconstruction as Landlord is obligated to do. If, if Lessee elects however, the Original Building shall be damaged or destroyed by any cause so that the Landlord shall decide to complete demolish or abandon, or completely rebuild it, Landlord may, within sixty (60) days after such work. If the damage or casualty was caused by the fault destruction, give Tenant written notice of the Lesseesuch decision, there and thereupon this Sublease shall be no abatement of rent. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%) or more of the buildings situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee shall deemed to have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective terminated as of the date of such casualty, the damage or destruction and Tenant shall immediately quit and surrender the demised premises to Landlord; provided that Tenant shall have sixty (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, Lessor may in such event retain the casualty insurance proceeds with respect to the Premises. Lessee shall either exercise its option to purchase, give the Lessor notice of termination, or commence repair or rebuilding of the Premises within forty-five (4560) days after thereafter to remove its property from the happening of such casualty. If Lessee does not elect to terminate this lease, Lessee shall repair and/or rebuild the Premises as promptly as possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth abovedemised premises."

Fire or Other Casualty Losses. In If the event the Premises are demised premises should be damaged or destroyed or rendered partially untenantable for their then use during the Sublease term by fire or other casualtyinsurable casualty without the fault of Tenant, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) Landlord shall repair and/or rebuild the Premises as promptly as possible, provided that the proceeds from Lessee's insurance policies are available to Lessee and sufficient in amount to fully pay all costs of repair or rebuilding. Lessee's obligation hereunder is merely to restore the Premises same to substantially the same condition as existed it was in immediately prior to such damage or destruction, except as in this Article provided. Landlord's obligation under this Article shall in no event exceed the happening scope of the casualty and work required to be done by Landlord in the original construction of the building. Landlord shall not extend be required to, but Tenant, unless otherwise agreed by Landlord, may with due dispatch, replace or restore forthwith any trade fixtures, signs or other installations theretofore installed by Tenant. Basic Rent payable under this Sublease shall be abated proportionately according to the repair or replacement of any improvements, additions, fixtures, installations or exterior signs floor area of the Lessee. If demised premises which is unusable by the Tenant, but if such fire or other casualty damage was not caused by the fault of the Lessee and as a result of such partial destruction or damage Tenant there is substantial interference with the operation of Lessee's business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion no abatement of the Premises destroyed or rendered untenantable bears to the total Premisesrent. Such abatement shall continue for the period commencing with such damage or destruction and ending with the completion by the Lessor Landlord of the such work of repair and/or reconstructionreconstruction as Landlord is obligated to do. If, if Lessee elects however, the building should be damaged or destroyed by any cause so that the Landlord shall decide to complete demolish or to abandon, or completely rebuild the building Landlord may, within sixty (60) days after such work. If the damage or casualty was caused by the fault destruction, give Tenant written notice of the Lesseesuch decision, there and thereupon this Sublease shall be no abatement of rent. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%) or more of the buildings situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee shall deemed to have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective terminated as of the date of such casualtythe damage or destruction and Tenant shall immediately quit and surrender the demised premises to Landlord; provided, however, that Tenant shall have sixty (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, Lessor may in such event retain the casualty insurance proceeds with respect to the Premises. Lessee shall either exercise its option to purchase, give the Lessor notice of termination, or commence repair or rebuilding of the Premises within forty-five (4560) days after thereafter to remove its property from the happening of such casualty. If Lessee does not elect to terminate this lease, Lessee shall repair and/or rebuild the Premises as promptly as possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth abovedemised premises.

Fire or Other Casualty Losses. In the event the Premises are damaged or destroyed or rendered partially untenantable for their then use by fire or other casualtycasualty without the fault of Lessee, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) Lessor shall repair and/or rebuild the Premises same as promptly as possible, provided that the proceeds from Lessee's insurance policies are available to Lessee Lessor and sufficient in amount to fully pay all costs of repair or rebuilding. LesseeLessor's obligation hereunder is merely to restore the Premises to substantially the same condition as existed immediately prior to the happening of the casualty and shall not extend to the repair or replacement of any improvements, additions, fixtures, installations or exterior signs of the Lessee. If such fire or other casualty was not the fault of the Lessee and as a result of such partial destruction or damage there is substantial interference with the operation of Lessee's business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion of the Premises destroyed or rendered untenantable bears to the total Premises. Such abatement shall continue for the period commencing with such damage or destruction and ending with the completion by the Lessor of the work of repair and/or reconstruction, if Lessee elects Lessor is obligated to complete such work. If the damage or casualty was caused by the fault of the Lessee, there shall be no abatement of rent. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%) or more of the buildings situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee Lessor shall have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective as of the date of such casualty, (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, Lessor may in such event casualty and retain the casualty insurance proceeds with respect by giving to the Premises. Lessee shall either exercise its option to purchase, give the Lessor notice of termination, or commence repair or rebuilding of the Premises within forty-five (45) days after the happening of such casualtycasualty written notice of such termination. If Lessee Lessor does not elect to terminate this lease, Lessee Lessor shall repair and/or rebuild the Premises as promptly as possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth above.

Fire or Other Casualty Losses. In the event the Premises are damaged or destroyed or rendered partially untenantable for their then use by fire or other casualtycasualty without the fault of Lessee, Lessee may, in its discretion, (i) exercise its option to purchase the Premises within thirty (30) days of the occurrence of the casualty and be entitled to retain all insurance proceeds payable on account of such casualty, or (ii) Lessor shall repair and/or rebuild the Premises same as promptly as possible, provided that the proceeds from Lessee's insurance policies are available to Lessee Lessor and sufficient in amount to fully pay all costs of repair or rebuilding. LesseeLessor's obligation hereunder is merely to restore the Premises to substantially the same condition as existed immediately prior to the happening of the casualty and shall not extend to the repair or replacement of any improvements, additions, fixtures, installations or exterior signs of the Lessee. If such fire or other casualty was not the fault of the Lessee and as a result of such partial destruction or damage there is substantial interference with the operation of Lessee's business in the Premises, the rent payable under this lease shall be abated in the proportion that the portion of the Premises destroyed or rendered untenantable bears to the total Premises. Such abatement shall continue for the period commencing with such damage or destruction and ending with the completion by the Lessor of the work of repair and/or reconstruction, if Lessee elects Lessor is obligated to complete such work. If the damage or casualty was caused by the negligence or fault of the Lessee, its employees, agents or invitees, there shall be no abatement of rent. Notwithstanding the foregoing, in the event that fifty percent (50%) or more of the Premises or fifty percent (50%5O%) or more of the buildings building situate on the Premises are destroyed or rendered untenantable by fire or other casualty, Lessee either party shall have the option to (i) exercise its option to purchase the Premises hereunder, (ii) terminate this lease effective as of the date of such casualty, (iii) repair the Premises as provided in the immediately preceding paragraph. In the event Lessee exercises its option to purchase the Premises Lessee shall be entitled to retain all insurance proceeds. In the event that Lessee elects to terminate this lease, casualty and Lessor may in such event retain the casualty insurance proceeds with respect to the Premisesproceeds. Lessee The terminating party shall either exercise its option to purchase, give the Lessor other party notice of termination, or commence repair or rebuilding of the Premises termination within forty-five (45) days after the happening of such casualty. If Lessee does not elect neither party elects to terminate this lease, Lessee Lessor shall repair and/or rebuild the Premises as promptly as an possible as set forth above, subject to any delay from causes beyond its reasonable control and the terms of this lease shall continue in full force and effect, and subject to equitable abatement of rent as set forth aboveabove and subject to the insurance proceeds covering the cost of such repair and/or rebuilding.