Common use of LOSS NOT COVERED BY INSURANCE Clause in Contracts

LOSS NOT COVERED BY INSURANCE. If, at any time prior to the expiration or termination of this Lease, the Premises or the Building is totally or partially damaged or destroyed from a casualty, the loss to Landlord from which is not, and is not required to be, fully covered by insurance maintained by Landlord or for Landlord’s benefit (or required to be maintained by Landlord pursuant to Section 12.2(b)), which damage renders the Premises inaccessible or unusable to Tenant in the ordinary course of its business, Landlord may, at its option, upon written notice to Tenant within sixty (60) days after notice to Landlord of the occurrence of such damage or destruction, elect to repair or restore such damage or destruction, or Tenant may elect to terminate this Lease so long as (a) such uninsured portion of the damage or destruction is equal to or greater than twenty-five percent (25%) of the replacement cost of the Premises and (b) Landlord makes a decision not to commence such repairs within two (2) years of the occurrence of such damage and destruction. If Landlord elects to repair or restore such damage or destruction and if Tenant has not exercised its right to terminate this Lease, this Lease shall continue in full force and effect but the Rent shall be abated as provided in General Condition F. If Landlord does not elect by notice to Tenant to repair such damage the Lease shall terminate as of the date of the occurrence of such damage or destruction. Notwithstanding the foregoing, if all repairs to the Premises or the Building cannot, in Landlord’s reasonable judgment (or if disputed, as determined by arbitration), be completed within twelve (12) months following the date of such damage or destruction without the payment of overtime or other expenses, then either Landlord or Tenant may at its option, upon written notice to the other party given within sixty (60) days after the occurrence of such damage or destruction, elect to terminate this Lease as of the date of the occurrence of such damage or destruction.

LOSS NOT COVERED BY INSURANCE. If, If at any time prior to the expiration or earlier termination of this Lease, Lease the Premises or the Building Property is totally or partially damaged or destroyed from in connection with a casualty, the which loss to Landlord from which is not, and is not required to be, fully covered by insurance maintained by Landlord or for Landlord’s benefit (or required to be maintained by Landlord pursuant to Section 12.2(b§14.3 above)), which ; and if such damage renders the Premises inaccessible or unusable to Tenant for their intended purpose in the ordinary course of its business, Landlord may, at its option, upon written notice given to Tenant within sixty (60) days after Tenant’s written notice to Landlord of the occurrence of such damage or destruction, either (a) elect to repair or to restore such damage or destruction, destruction at Landlord’s expense or Tenant may (b) elect to terminate this Lease so long as (a) such uninsured portion of the damage or destruction is equal to or greater than twenty-five percent (25%) of the replacement cost of the Premises and (b) Landlord makes a decision not to commence such repairs within two (2) years of the occurrence of such damage and destructionLease. If Landlord elects to repair or restore such damage or destruction and if Tenant has not exercised its right to terminate this Leasedestruction, this Lease shall continue in full force and effect but effect, except that the Base Rent shall be abated proportionately reduced as provided in General Condition F. § 15.1.1 above. If Landlord does not elect by notice to Tenant to repair such damage damage, the Lease shall terminate as of the date of the occurrence Tenant’s receipt of such damage or destructionLandlord’s notice of election to terminate. Notwithstanding the foregoing, if all repairs to the Premises or the Building cannot, in Landlord’s reasonable judgment (or if disputed, as determined by arbitration)judgment, be completed within twelve six (126) months following the date of the commencement of the work of repairing such damage or destruction without the payment of overtime or other expensespremiums, then either Landlord or Tenant may at its optionthe option of either, upon written notice to the other party given within sixty (60) days after the occurrence of such damage or destruction, elect to terminate this Lease as of the date of the occurrence of such damage or destructionnotice.

LOSS NOT COVERED BY INSURANCE. If, at any time prior to the expiration or termination of this Lease, the Premises or the Building is totally or partially damaged or destroyed from a casualty, the loss to Landlord from which is not, and is (except for any applicable deductible) not required to be, fully be covered by insurance maintained by Landlord or for Landlord’s benefit (or required to be maintained by Landlord pursuant to Section 12.2(b))'s benefit, which damage renders the Premises inaccessible or unusable to Tenant in the ordinary course of its business, and such uninsured portion of the cost of repairing or restoring such damage or destruction exceeds Two Hundred Fifty Thousand Dollars ($250,000.00), Landlord may, at its option, upon written notice to Tenant within a reasonable period of time after notice to Landlord of the damage or destruction, but in any event within sixty (60) days after notice to Landlord of the occurrence of such damage or destruction, elect to repair or restore such damage or destruction, or Tenant Landlord may elect to terminate this Lease so long as (a) such uninsured portion of the damage or destruction is equal to or greater than twenty-five percent (25%) of the replacement cost of the Premises and (b) Landlord makes a decision not to commence such repairs within two (2) years of the occurrence of such damage and destructionLease. If Landlord elects to repair or restore such damage or destruction and if Tenant has not exercised its right to terminate this Leasedestruction, this Lease shall continue in full force and effect but the Rent shall be abated proportionately reduced as provided in General Condition F. Section 19.1.1. If Landlord does not elect by notice to Tenant to repair such damage, or if the damage the Lease shall terminate as of the date of the occurrence of such damage or destruction. Notwithstanding the foregoing, if all repairs to the Premises or the Building cannot, in Landlord’s reasonable judgment (or if disputed, as determined by arbitration)'s judgment, be completed within twelve six (126) months following the date of such damage or destruction without the payment of overtime or other expenses, then either Landlord or Tenant may at its option, upon written notice to the other party given within sixty (60) days after the occurrence Landlord of such damage or destruction, elect to terminate this Lease as of the date of the occurrence of such damage or destructionshall terminate.

LOSS NOT COVERED BY INSURANCE. If, at any time prior to the expiration or termination of this Lease, the Premises or the either Building is totally or partially damaged or destroyed from a casualty, the loss to Landlord from which is not, and is not required to be, fully covered by insurance maintained by Landlord or maintained by Tenant for Landlord’s benefit (or required to be maintained by Landlord Tenant pursuant to Section 12.2(b)Article 12), which damage renders the Premises inaccessible or unusable to Tenant in the ordinary course of its business, Landlord may, at its option, upon written notice to Tenant within sixty (60) days after notice to Landlord of the occurrence of such damage or destruction, elect to repair or restore such damage or destruction, or Tenant Landlord may elect to terminate this Lease so long as (a) such the uninsured portion of the damage or destruction is equal to or greater than twenty-five percent (25%) of the replacement cost of the Premises Building, and (b) Landlord makes a decision decisions not to commence such repairs within two (2) years of the occurrence of such damage and destruction. If Landlord elects to repair or restore such damage or destruction and if Tenant has not exercised its right to terminate this Leasedestruction, this Lease shall continue in full force and effect but a reduction of the Rent shall be abated allowed Tenant as provided in General Condition F. If Landlord does not elect by notice to Tenant to repair such damage the this Lease shall terminate as of the date of the occurrence of such damage or destructionterminate. Notwithstanding the foregoing, if all repairs to the Premises or the Building cannot, in Landlord’s reasonable judgment (or if disputed, as determined by arbitration)judgment, be completed within twelve six (126) months following the date of such damage or destruction without the payment of overtime or other expenses, then either Landlord or Tenant may at its option, upon written notice to the other party given within sixty (60) days after the occurrence of such damage or destruction, elect to terminate this Lease lease as of the date of the occurrence of such damage or destruction.