Common use of Lessee Responsible for Short-Fall Clause in Contracts

Lessee Responsible for Short-Fall. If the cost of the Work exceeds the amount of proceeds received by the Lessor from the property insurance required under Article 12 (net of costs and expenses incurred by the Lessor in collecting the same), the Lessee shall be obligated to contribute any excess amount needed to repair or restore the Leased Property and pay for the Work. Such amount shall be paid by the Lessee to the Lessor together with any other property insurance proceeds for application to the cost of the Work.

Lessee Responsible for Short-Fall. If the cost of the Work exceeds the amount of proceeds received by the Lessor from the property insurance required under Article 12 (net of costs and expenses incurred by the Lessor in collecting the same), the Lessee shall be obligated to contribute any excess amount needed to repair or restore the Leased Property and pay for the Workwork. Such amount shall be paid by the Lessee to the Lessor together with any other property insurance proceeds for application to the cost of the Workwork.