Insured Loss. Subject to the provisions of paragraphs 9.4 and 9.5, if at any time during the term of this Lease there is damage which is an Insured Loss and which falls into the classification of either Premises Damage or Premises Building Partial Damage, then Lessor shall, as soon as reasonably possible and to the extent the required materials and labor are readily available through usual commercial channels, at Lessor's expense, repair such damage (but not Lessee's fixtures, equipment or tenant improvements originally paid for by Lessee) to its condition existing at the time of the damage, and this Lease shall continue in full force and effect.
Insured Loss. Subject to the provisions of paragraphs 9.4 and 9.5. If at any time during the term of this Lease there is damage which is an Insured Loss and which falls into the classification of other Premises Partial Damage or Premises Building Partial Damage, then Lessor shall, at Lessor's expense, repair such damage to the Premises, but not Lessee's fixtures, equipment or tenant improvements as reasonably possible and this Lease shall continue in full force and effect.
Insured Loss. The owner shall have sole power and authority to adjust and settle a loss with insurers. A loss insured under the Builder's Risk Insurance or Builder's Risk Installation Floater shall be adjusted by the Owner and any payments or settlements shall be made payable to the Owner for the insureds, as their interests may appear. The Owner shall be entitled to full payment of its loss from the insurance proceeds before payment of the remainder to any other beneficiaries of the policy. The Contractor shall pay Subcontractors their just share of remaining insurance proceeds received by the Contractor, and by appropriate agreements, written where legally required for validity, shall require Subcontractors make payments to the Sub-subcontractors in similar manner.
Insured Loss. Subject to Section 18.2 below, if the Leased Premises are damaged by perils covered by Landlord's insurance coverage and the proceeds therefrom are sufficient to cover the cost of repairs and are made available to Landlord for the purpose of repairing such damage, Landlord agrees to forthwith repair the same, and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the Base Rent and Other Charges from the date of damage and while such repairs are in progress, provided said damage did not result from or was contributed to, directly or indirectly, by the act, fault or neglect of Tenant. Such proportionate reduction shall be based upon the extent to which the damage and making of such repairs materially interfere, if at all, with the business carried on by Tenant in the Leased Premises. If such damage resulted from or was contributed to, directly or indirectly, by the act, fault or neglect of Tenant, the Base Rent and Other Charges shall xxxxx only to the extent Landlord receives proceeds from Landlord's rental income insurance policy to compensate Landlord for the loss of such rent and income.
Insured Loss. If (i) there is a Tenant Insured Loss or a Landlord Insured Loss and (ii)Tenant exercises Tenant's Casualty Loss Termination Right, then (a) Tenant shall assign to Landlord and Landlord's lender, as their interests may appear, all of its right, title and interest in the Property Insurance covering the Insured Premises obtained by Tenant pursuant to Section 14.1.2 or otherwise, and (b) if Tenant has breached its obligation to obtain Property Insurance pursuant to Section 14.1.2, then Tenant shall cause to be paid to Landlord the full amount of the proceeds that would have been made available by the insurer for such loss as if Tenant had in fact carried the insurance required of Tenant pursuant to Section 14.1.2. Subject to the other provisions of this Section 27, if at any time during the term of this Lease (i) there is a Tenant Insured Loss or Landlord Insured Loss and (ii) neither Landlord nor Tenant exercises their respective Landlord's Casualty Loss Termination Right or Tenant's Casualty Loss Termination Right in accordance with this Section 27, then (a) this Lease shall continue in full force and effect, (b) Tenant shall restore the Insured Premises and, if Tenant so elects, such other Tenant Improvements and other Tenant's Property as Tenant may elect to restore as soon as reasonably possible, and (c) subject to any contrary provision of any Subordination Agreement, all of the proceeds of the Property Insurance covering the Insured Premises (and any additional sum that Landlord may elect to contribute to the restoration pursuant to Section 27.2.2.2) shall be disbursed for use by Tenant for such restoration of the Insured Premises. If any lender, after having consented to the use of insurance proceeds for restoration, should cut off the availability of such proceeds and such proceeds are not replaced by Landlord, then in addition to its other rights and remedies, Tenant shall have the right to cease restoration of the Insured Premises. At any time when Tenant is to undertake the restoration of the Insured Premises in accordance with this Lease, such restoration planning and work shall be performed by the Tenant in accordance with the provisions of Section 12 above and the provisions of the Work Letter relating to work which was to be performed by Tenant under such Work Letter. If Landlord carries the Property Insurance pursuant to Section 27.7 , then, subject to any contrary provisions of any Subordination Agreement executed by Landlord and Tenant, in ...
Insured Loss. If at any time during the term of this Lease there is damage which is an Insured Loss and which falls into the classification of Premises Partial Damage, then Lessor shall, at Lessor's expense, repair such damage to the Premises, but not Lessee's fixtures, equipment, tenant improvements, alterations, improvements, Alterations or Installations, as soon as reasonably possible and this Lease shall continue in full force and effect.
Insured Loss. Subject to the provisions of Sections 13.4 and 13.5, if at any time during the Term there is damage which is an Insured Loss and which falls into the classification of Partial Damage, then Landlord shall, at Landlord's expense, repair such damage to the Premises, but not Tenant's fixtures or equipment, as soon as reasonably possible and this Lease shall continue in full force and effect. In no event, however, shall Landlord be obligated to spend for such repairs more than the amount of available insurance proceeds, plus the amount of any deductible elected by Landlord.
Insured Loss. Subject to the provisions of paragraphs 9.4 and 9.5, if at any time during the term of this Lease there is an Insured Loss and that falls into the classification of either Premises Damage or Premises Building Partial Damage and that does not fall into the classification of Premises Building Total Destruction or Office Building Project Total Destruction, then Landlord shall, as soon as reasonably possible and to the extent the required materials and labor are readily available through usual commercial channels, at Landlord's expense, repair such damage (but not Tenant's fixtures, equipment or tenant improvements originally paid for by Tenant) to its condition existing at the time of the damage, and this Lease shall continue in full force and effect.
Insured Loss. In the event the Premises or the Project of which the Premises are a part are damaged by fire or other perils covered by extended coverage insurance, and the estimated cost of repairs is not in excess of available insurance proceeds, then Landlord shall forthwith repair the same and this Lease shall remain in full force and effect.
Insured Loss. If the proceeds available under Lessee’s property insurance policy (together with a sum equal to the deductible thereunder (the “Deductible Amount”)) are sufficient to fully pay the cost of restoring the Leased Premises, as reasonably determined by Lessee, this Lease shall remain in effect, State shall assign to Lessee any insurance proceeds otherwise payable to State under Lessee’s or State’s property insurance policies, and Lessee shall repair and restore the Leased Premises as nearly as reasonably possible to its condition immediately prior to the Damage.
