Common use of Insured Casualty Clause in Contracts

Insured Casualty. In the event that the Premises are partially or totally destroyed by fire or any other peril covered by insurance maintained by Landlord, Landlord shall, within a period of one hundred eighty (180) days after the occurrence of such destruction, but only to the extent that proceeds of such insurance are available to Landlord for such purpose, commence reconstruction and restoration of the Premises and prosecute the same diligently to completion, in which event this Lease shall continue in full force and effect. Any Rent due during the reconstruction shall either be equitably abated if Xxxxxx is unable to operate at the Premises not to exceed the amount of rental interruption insurance received by Landlord, or if available as determined by Landlord, shall be applied for a reasonably similar, alternate premises for Tenant’s use. In the event insurance proceeds are not sufficient to pay the cost of such reconstruction, or if the damage or destruction is due to the acts or omissions of Tenant, its agents, employees or contractors and not subject to the waiver of subrogation under Article 9, or if Landlord is restricted by any governmental authority, Landlord may elect to either terminate this Lease or pay the cost to reconstruct and restore the Premises to substantially the condition that it was in upon delivery thereof to Tenant; and in the latter event, Tenant shall be obligated to pay the cost to reconstruct and restore all of the “Tenant’s Work”, if any, as well as Tenant’s other leasehold improvements, trade fixtures and other personal property on the Premises. For the purposes of this Article, “partial destruction” shall be deemed to be a destruction to an extent of at least one-third (1/3) of the full replacement cost of the Premises or the Building, as applicable, as of the date of destruction.

Insured Casualty. In the event that If the Premises or the portion of the Building necessary for Tenant's occupancy are partially damaged by fire, earthquake, act of God, the elements or totally destroyed by fire or any other peril covered by casualty, and Landlord shall have received insurance maintained by Landlordproceeds sufficient to fully repair and restore the Premises and Building, Landlord shall, subject to the provisions of this Article, promptly repair the damage, if such repairs can, in Landlord's opinion, be completed within a period ninety (90) days. If Landlord determines that repairs can be completed within ninety (90) days, this Lease shall remain in full force and effect, except that if such damage is not the result of one hundred eighty (180) days after the occurrence negligence or willful misconduct of such destructionTenant or Tenant's agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant's use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs, but only to the extent that of the rental loss insurance proceeds received by Landlord by reason of such insurance are available damage. If, in Landlord's opinion, such repairs to Landlord for such purpose, commence reconstruction and restoration the Premises or portion of the Premises and prosecute Building necessary for Tenant's occupancy cannot be completed within forty-five (45) days, Landlord may elect, upon notice to Tenant given within thirty (30) days after the same diligently date of damage, to completion(a) repair such damage, in which event this Lease shall continue in full force and effect. Any , but the Base Rent due during the reconstruction shall either be equitably abated if Xxxxxx is unable to operate at the Premises not to exceed the amount of rental interruption insurance received by Landlordas provided above, or if available as determined by Landlord, shall be applied for a reasonably similar, alternate premises for Tenant’s use. In the event insurance proceeds are not sufficient to pay the cost of such reconstruction(b) terminate this Lease, or if (c) Tenant may elect, after receiving Landlord's notice of the damage or destruction is due number of days required to the acts or omissions of Tenantmake repairs, its agents, employees or contractors and not subject to the waiver of subrogation under Article 9, or if Landlord is restricted by any governmental authority, Landlord may elect to either terminate this Lease or pay if the cost to reconstruct and restore the Premises to substantially the condition that it was repairs cannot be completed in upon delivery thereof to Tenant; and in the latter event, Tenant shall be obligated to pay the cost to reconstruct and restore all of the “Tenant’s Work”, if any, as well as Tenant’s other leasehold improvements, trade fixtures and other personal property on the Premises. For the purposes of this Article, “partial destruction” shall be deemed to be a destruction to an extent of at least oneforty-third five (1/345) of the full replacement cost of the Premises or the Building, as applicable, as of the date of destructiondays.

Insured Casualty. In the event that the Premises are partially or totally destroyed case of damage by fire or any other peril perils covered by the insurance maintained by Landlordspecified in Article 11, carried or required to be carried pursuant to Article 11, provided that neither Landlord shallnor Tenant terminates this Lease as provided herein, within a period the party responsible to maintain property insurance covering casualty to the Premises at the time of one hundred eighty (180) days after the occurrence of shall as soon as possible commence such destructionrepair, but only to the extent that proceeds of such insurance are available to Landlord for such purpose, commence reconstruction and restoration of the Premises and shall diligently prosecute the same diligently to completioncompletion consistent with a standard at least comparable to the condition of Comparable Buildings prior to the occurrence of the casualty, but if Landlord is the repairing party, Landlord shall not be required to restore Tenant's trade fixtures, equipment and personal property. Notwithstanding the foregoing, if (a) the Premises is destroyed to an extent of at least fifty percent (50%) of the then full replacement cost thereof as of the date of destruction, (b) the destruction occurs during the last two (2) years of the Term with respect to the portion of the Premises damaged, or (c) the Premises is damaged by any peril and, because of the laws then in force, the Premises cannot be restored at reasonable cost in excess of available insurance proceeds or if restored, cannot be used for the same use being made thereof before such damage, then Tenant and Landlord shall each have the right to terminate this Lease; Tenant shall also have the right to terminate the Lease if damage of the type described in (a) through (c) above occurs and the Premises cannot be restored with only minimal impact on Tenant's business. A party may exercise this termination right by giving written notice to the other party within thirty (30) days after the date of such destruction. If this Lease is terminated pursuant to this Section 12.1, then (i) if Landlord is the insuring party, upon Landlord's receipt of any insurance proceeds payable by reason of such destruction, Landlord shall pay to Tenant from such proceeds an amount equal to the Alterations paid for by Tenant, reduced by the amount which has been amortized as of the date of such termination and by the amount of proceeds of any insurance carried by Tenant on such items pursuant to Article 11, if any, and (ii) if Tenant is the insuring party, upon Tenant's receipt of any insurance proceeds payable by reason of such destruction, after retaining from such proceeds an amount equal to the Alterations paid for by Tenant, reduced by the amount which has been amortized as of the date of such termination and by the amount of proceeds of any insurance carried by Tenant on such items pursuant to Article 11, if any, Tenant shall pay to Landlord the balance of such proceeds for the Premises. If Landlord has elected to terminate this Lease as provided in this Article due to the fact that the estimated cost to restore the Premises exceeds the insurance proceeds available, Tenant may, at its election (but shall not be obligated), offer to provide Landlord with funds to cover such shortfall, within thirty (30) days after Tenant's receipt of Landlord's termination notice, in which event Landlord shall complete its repair, reconstruction and restoration of the Premises pursuant to this Article and this Lease shall continue remain in full force and effect. Any Rent due If this Lease is not terminated pursuant to the provisions of this Section, then during the period of repair, reconstruction shall either be equitably abated if Xxxxxx is unable to operate at the Premises not to exceed the amount of rental interruption insurance received by Landlord, or if available as determined by Landlord, shall be applied for a reasonably similar, alternate premises for Tenant’s use. In the event insurance proceeds are not sufficient to pay the cost of such reconstruction, or if the damage or destruction is due to the acts or omissions of Tenant, its agents, employees or contractors and not subject to the waiver of subrogation under Article 9, or if Landlord is restricted by any governmental authority, Landlord may elect to either terminate this Lease or pay the cost to reconstruct and restore the Premises to substantially the condition that it was in upon delivery thereof to Tenant; and in the latter eventrestoration, Tenant shall be obligated entitled to pay the cost abatement of (i) all Monthly Rental and (ii) to reconstruct and restore all of the “Tenant’s Work”extent Landlord receives rental loss insurance proceeds therefor, if any, as well as Tenant’s other leasehold improvements, trade fixtures and other personal property on the Premises. For the purposes of this Article, “partial destruction” shall be deemed to be a destruction to an extent of at least one-third (1/3) of the full replacement cost of the Premises or the Building, as applicable, as of the date of destructionany Additional Rental.

Insured Casualty. In the event that the Premises are partially or totally destroyed case of damage by fire or any other peril perils covered by the insurance maintained by Landlordspecified in Section 13.4, Landlord shall, within the following provisions shall apply: (a) Within a period of one hundred eighty sixty (18060) days after the occurrence of all applicable permits have been obtained (which permits Landlord shall promptly apply for and diligently seek), Landlord shall commence such destructionrepair, but only to the extent that proceeds of such insurance are available to Landlord for such purpose, commence reconstruction and restoration of the Premises as Landlord, in its reasonable business judgment, deems necessary, and shall diligently prosecute the same diligently to completion; provided, however, that Tenant, at its cost, shall repair and restore all items of Tenant’s Work and replace its stock in which event trade, trade fixtures, furniture, furnishings and equipment. Tenant shall commence this Lease shall continue in full force and effect. Any Rent due during the reconstruction shall either be equitably abated if Xxxxxx is unable to operate at work promptly upon delivery of possession of the Premises not to exceed Tenant and shall diligently prosecute same to completion. (b) Notwithstanding the amount of rental interruption insurance received by Landlordforegoing, or if available as determined by Landlord, shall be applied for a reasonably similar, alternate premises for Tenant’s use. In the event insurance proceeds are not sufficient to pay the cost of such reconstructionPremises is totally destroyed, or if the damage or destruction Project is due to the acts or omissions of Tenant, its agents, employees or contractors and not subject to the waiver of subrogation under Article 9, or if Landlord is restricted by any governmental authority, Landlord may elect to either terminate this Lease or pay the cost to reconstruct and restore the Premises to substantially the condition that it was in upon delivery thereof to Tenant; and in the latter event, Tenant shall be obligated to pay the cost to reconstruct and restore all of the “Tenant’s Work”, if any, as well as Tenant’s other leasehold improvements, trade fixtures and other personal property on the Premises. For the purposes of this Article, “partial destruction” shall be deemed to be a destruction destroyed to an extent of at least one-third fifty percent (1/350%) of the then full replacement cost of the Premises or the Building, as applicable, thereof as of the date of destruction, then (i) if the destruction occurs during the last two (2) years of the Term, or at any time if it is reasonably estimated that repair or restoration after a casualty which Landlord is obligated under the Lease to undertake will take more than two hundred seventy (270) days after the issuance of the building permit for such work to complete, Landlord and Tenant shall each have the right to terminate this Lease, and (ii) if the destruction occurs prior to the last two (2) years of the Term, regardless of the estimated repair or restoration time, Landlord shall have the right to terminate this Lease. In each case, the termination right shall be exercised by the terminating party giving written notice to the other party within thirty (30) days after the date of destruction. If Landlord terminates this Lease pursuant to (ii) above, then Landlord shall be entitled to retain any insurance proceeds payable by reason of such destruction. (c) Tenant shall have the right to terminate this Lease as a result of casualty described in this Section 14.1 if Landlord does not complete the repairs and deliver the Premises to Tenant within two (2) years after the date of the casualty (subject to extension by Force Majeure).

Insured Casualty. In the event that the Premises are partially or totally destroyed case of damage by fire or any other peril perils covered by the insurance maintained by Landlordspecified in Section 12.4, Landlord shall, within the following provisions shall apply: (a) Within a period of one hundred eighty sixty (18060) days after the occurrence of all applicable permits have been obtained (which permits Landlord shall promptly apply for and diligently seek), Landlord shall commence such destructionrepair, but only to the extent that proceeds of such insurance are available to Landlord for such purpose, commence reconstruction and restoration of the Premises as Landlord, in its reasonable business judgment, deems necessary, and shall diligently prosecute the same diligently to completion; provided, however, that Tenant, at its cost, shall repair and restore all items of Tenant’s Work and replace its stock in which event trade, trade fixtures, furniture, furnishings and equipment. Tenant shall commence this Lease shall continue in full force and effect. Any Rent due during the reconstruction shall either be equitably abated if Xxxxxx is unable to operate at work promptly upon delivery of possession of the Premises not to exceed Tenant and shall diligently prosecute same to completion. (b) Notwithstanding the amount of rental interruption insurance received by Landlordforegoing, or if available as determined by Landlord, shall be applied for a reasonably similar, alternate premises for Tenant’s use. In the event insurance proceeds are not sufficient to pay the cost of such reconstructionPremises is totally destroyed, or if the damage or destruction Project is due to the acts or omissions of Tenant, its agents, employees or contractors and not subject to the waiver of subrogation under Article 9, or if Landlord is restricted by any governmental authority, Landlord may elect to either terminate this Lease or pay the cost to reconstruct and restore the Premises to substantially the condition that it was in upon delivery thereof to Tenant; and in the latter event, Tenant shall be obligated to pay the cost to reconstruct and restore all of the “Tenant’s Work”, if any, as well as Tenant’s other leasehold improvements, trade fixtures and other personal property on the Premises. For the purposes of this Article, “partial destruction” shall be deemed to be a destruction destroyed to an extent of at least one-third fifty percent (1/350%) of the then full replacement cost of the Premises or the Building, as applicable, thereof as of the date of destruction, then (i) if the destruction occurs during the last two (2) years of the Term, or at any time if it is reasonably estimated that repair or restoration after a casualty which Landlord is obligated under the Lease to undertake will take more than two hundred seventy (270) days after the issuance of the building permit for such work to complete, Landlord and Tenant shall each have the right to terminate this Lease, and (ii) if the destruction occurs prior to the last two (2) years of the Term, regardless of the estimated repair or restoration time, Landlord shall have the right to terminate this Lease. In each case, the termination right shall be exercised by the terminating party giving written notice to the other party within thirty (30) days after the date of destruction. If Landlord terminates this Lease pursuant to (ii) above, then Landlord shall be entitled to retain any insurance proceeds payable by reason of such destruction.