Common use of Minor Insured Damage Clause in Contracts

Minor Insured Damage. In the event the Premises or the Building, or any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 above, then Landlord shall rebuild, repair and restore the damaged portion thereof, provided that (1) the amount of insurance proceeds available to Landlord equals or exceeds the cost of such rebuilding, restoration and repair, (2) such rebuilding, restoration and repair can be completed within one hundred eighty (180) days after the work commences in the opinion of a registered architect or engineer appointed by Landlord, (3) the damage or destruction has occurred more than twelve (12) months before the expiration of the Term, and (4) such rebuilding, restoration or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floors. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, such proceeds, for the purposes of this Section 18(A), shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's personal property, furnishings, trade fixtures, equipment or other such property or effects of Tenant.

Minor Insured Damage. In the event the Premises or the Building, or any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 XIV. above, then Landlord shall rebuild, repair and restore the damaged portion thereof, provided that (1) the amount of insurance proceeds available to Landlord equals or exceeds the cost of such rebuilding, restoration and repair, (2) such rebuilding, restoration and repair can be completed within one hundred eighty (180) days after the work commences in the opinion of a registered architect or engineer appointed by Landlord, (3) the damage or destruction has occurred more than twelve (12) months before the expiration of the Term, Term and (4) such rebuilding, restoration restoration, or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floorsnet rentable floor area. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, such proceeds, for the purposes of this Section 18(A), Subsection shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration restoration, and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's personal property, furnishings, trade fixtures, equipment or other such property or effects of Tenant.

Minor Insured Damage. In the event the Premises or the Building, or any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 XIV. above, then Landlord shall rebuild, repair and restore the damaged portion thereof, provided that (1) the amount of insurance proceeds available to Landlord plus (except in the case of earthquake damage which costs One Hundred Thousand Dollars ($100,000) or more to repair) any "deductible" amounts or coinsurance payments applicable to such loss (which Landlord agrees to use reasonable efforts to obtain from any lender or mortgagee to whom such proceeds may have been assigned absolutely or as collateral for a loan secured by the Premises or Building) equals or exceeds the cost of such rebuilding, restoration and repair, (2) such rebuilding, restoration and repair can be completed within one hundred eighty (180) days after the work commences in the opinion of a registered architect or engineer appointed by Landlord, (3) the damage or destruction has occurred more than twelve (12) months before the expiration of the TermTerm (which, for the purposes of this sentence, shall include any Additional Term with respect to which Tenant either (a) had the right to and properly exercised its option pursuant to Addendum Section XXXV.A.), prior to the occurrence of such damage or destruction or (b) within ten (10) days after occurrence of such damage or destruction, Tenant has the right to and does exercise its option pursuant to Addendum Section XXXV.A.), and (4) such rebuilding, restoration or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floorsnet rentable floor area. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, such proceeds, for the purposes of this Section 18(A)subsection, shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's personal property, furnishings, trade fixtures, equipment or other such property or effects of Tenant.

Minor Insured Damage. In the event the Premises or the Building, or -------------------- any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 aboveLandlord, then Landlord shall rebuild, repair and restore the damaged portion thereof, provided that (1i) the amount of insurance proceeds available to Landlord equals or exceeds the cost of such rebuilding, restoration and repair, (2ii) such rebuilding, restoration and repair can be completed within one hundred eighty (180) days after the work commences in the opinion of a registered architect or engineer appointed by Landlord, (3iii) the damage or destruction has occurred more than twelve (12) months before the expiration of the Term, Term and (4iv) such rebuilding, restoration restoration, or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floorsnet rentable floor area. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building Premises or ProjectBuilding, such proceeds, for the purposes of this Section 18(A)subsection, shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration restoration, and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's personal property, furnishings, trade fixtures, equipment or other such property or effects of Tenant.

Minor Insured Damage. In the event the Premises or the Building, or any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 abovecasualty, then Landlord shall rebuild, repair and restore the damaged portion thereofthereof at Landlord’s sole cost and expense, provided that Landlord shall be entitled to terminate this Lease by written notice to Tenant within sixty (160) days after the amount date of insurance proceeds available the casualty if: (i) Landlord’s then Mortgage does not consent to Landlord equals or exceeds the cost of such rebuilding, restoration or repair work and repair, (2) such rebuilding, restoration and repair can the same cannot reasonably be completed within one two hundred eighty seventy (180270) days after the work commences in the opinion of a registered architect or engineer appointed by Landlord, Landlord and reasonably acceptable to Tenant; (3ii) the damage or destruction has occurred more than within twelve (12) months before the expiration of the TermLease Term (and Tenant does not elect to exercise any then applicable renewal option within sixty (60) days after Tenant’s receipt of Landlord’s termination notice), and or (4iii) such rebuilding, restoration restoration, or repair is not then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floors. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, such proceeds, for the purposes of this Section 18(A), shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration and repair of the damaged portion thereofRSF. Notwithstanding the foregoing, and only to the extent not covered by the insurance Landlord is required to carry under the Lease, Landlord shall have no obligation to repair any damage to, or to replace any of, the tenant improvements paid for by Tenant (unless Tenant elects to make the insurance proceeds therefor available to Landlord) or Tenant's ’s personal property, furnishings, trade fixtures, equipment or other such property or effects of Tenant. If Landlord does not timely deliver such termination notice to Tenant, Landlord shall not thereafter be entitled to terminate this Lease pursuant to this Section 12.01 and shall be obligated to promptly restore the damage to the Building. Any mortgage or deed of trust encumbering any part of the Building shall be subject to the foregoing rights and obligations relating to the application of insurance proceeds towards the rebuilding, restoration, and repair of any damage to the Building (which may be provided by the terms of the SNDA defined below).

Minor Insured Damage. In the event the Premises or the Building, or any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 XIV. above, then Landlord shall rebuild, repair and restore the damaged portion thereof, provided that (1) the amount of insurance proceeds available to Landlord equals or exceeds the cost of such rebuilding, restoration and repair, (2) such rebuilding, restoration and repair can be completed within one hundred eighty (180) days after the work commences in the opinion of a registered architect or engineer appointed by Landlord, (3) the damage or destruction has occurred more than twelve (12) months before the expiration of the Term, and (4) such rebuilding, restoration or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floorsnet rentable floor area. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, such proceeds, for the purposes of this Section 18(A)subsection, shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's personal property, furnishings, trade fixtures, equipment or other such property or effects of Tenant.

Minor Insured Damage. In the event If the Premises or the Buildingare damaged only to such extent that repairs, or any portion thereofrebuilding and/or restoration can be reasonably completed within ninety (90) days from receipt of Tenant's Notice, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 above, then Landlord this Lease shall rebuild, repair and restore the damaged portion thereofnot terminate and, provided that (1) the amount of insurance proceeds are available to fully repair the damage and/or Tenant otherwise contributes any shortfall thereof to Landlord, Landlord equals or exceeds shall repair the cost Premises to substantially the same condition that existed prior to the occurrence of such rebuildingcasualty, restoration and except Landlord shall not be required to rebuild, repair, (2) or replace any alterations or improvements installed by or for the benefit of Tenant or any part of Tenant's Property, including without limitation, the Tenant Improvements, Tenant's furniture, furnishings or trade fixtures and equipment removable by Tenant. If the premises are not repaired to substantially the same condition that existed prior to the occurrence of such rebuildingcasualty, restoration and repair can be completed within one hundred eighty twenty (180120) days after the work commences in the opinion receipt by Landlord of a registered architect or engineer appointed by LandlordTenant's Notice (such 120-day period to be extended for Tenant Delays and Force Majeure Delays (defined below)), Tenant may within twenty (320) the damage or destruction has occurred more than twelve (12) months before days after the expiration of such one hundred twenty (120) day period (as same may be extended), terminate this Lease by delivering written notice to Landlord as Tenant's exclusive remedy, whereupon all rights of Tenant hereunder shall cease and terminate twenty (20) days after Landlord's receipt of such notice. The Rent payable hereunder shall be equitably abated from the Term, date of the occurrence of such insured damage until any and (4) such rebuilding, restoration or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to all repairs are substantially its condition immediately prior completed to the damage or destruction, including, without limitation, substantially the same Rentable Area on each extent of the damaged floors. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, such proceeds, for the purposes of this Section 18(A), shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration and repair portion of the damaged portion thereof. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's personal property, furnishings, trade fixtures, equipment or other such property or effects of TenantPremises which are rendered unusable and unfit for occupancy.

Minor Insured Damage. In the event the Premises or the Buildingpremises, or any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 aboveinsurance, then Landlord Lessor shall promptly and in any event within 180 days after such damage or destruction occurs rebuild, repair and restore the damaged portion thereof, provided that (1) the amount of insurance proceeds available proceeds, and any amounts Lessee elects to Landlord provide, to Lessor equals or exceeds the cost of such rebuilding, restoration and repair, (2) such rebuilding, restoration and repair can be completed within one hundred eighty (180) days after the work commences in the opinion of a registered architect or engineer appointed by LandlordLessor, (3) the damage or destruction has occurred more than twelve (12) months before the expiration of the Term, Term and (4) such rebuilding, restoration restoration, or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floorsnet rentable floor area. To the extent that insurance proceeds must be paid to a mortgagee mortgage or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Projectpremises, such proceeds, for the purposes of this Section 18(A)subsection, shall be deemed not available to Landlord unless Lessor regardless of whether such mortgagee or beneficiary permits Landlord Lessor to use such proceeds for the rebuilding, restoration restoration, and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord Lessor shall have no obligation to repair any damage to, or to replace any of, TenantLessee's personal property, furnishings, trade fixtures, equipment or other such property or effects of TenantLessee unless this damage or destruction was caused by the negligence of Lessor in an amount in excess of $10,000.00 in any one occurrence, or the intentional acts of Lessor, and is not covered by insurance. Any rebuilding or repairs referred to in this section shall be performed as promptly as reasonably possible under the circumstances subject to matters outside of Lessor's control.

Minor Insured Damage. In the event the Premises or the BuildingProperty, or any portion thereof, is damaged or destroyed by fire or any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 aboveother catastrophic event (each a “Casualty”), then Landlord shall rebuild, repair and restore the damaged portion thereof, provided that Landlord shall be entitled to terminate this Lease by written notice to Tenant within sixty (160) days after the amount date of insurance proceeds available to Landlord equals or exceeds the cost Casualty if any one of such rebuilding, restoration and repair, the following applies: (2i) such rebuilding, restoration and repair can cannot reasonably be completed within one two hundred eighty seventy (180270) days after the work commences in the reasonable opinion of a registered an unaffiliated qualified architect or engineer appointed by Landlord (“Landlord’s Qualified Party”) and Landlord terminates the leases of all similarly affected tenants at the Property at such time, (3ii) the damage or destruction has occurred more than within twelve (12) months before the expiration of the Termthen in effect term of this Lease and Tenant does not elect to exercise any then applicable renewal option within thirty (30) days after Tenant’s receipt of Landlord’s termination notice, and or (4iii) such rebuilding, restoration restoration, or repair is not then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each net rentable floor area, and Landlord terminates the leases of all similarly affected tenants at the damaged floors. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, Property at such proceeds, for the purposes of this Section 18(A), shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration and repair of the damaged portion thereoftime. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's ’s personal property, furnishings, trade fixtures, equipment or other such property or effects of Tenant. If Landlord does not timely deliver such termination notice to Tenant, Landlord shall not thereafter be entitled to terminate this Lease pursuant to this Section 11(A). If neither party to this Lease exercises an available termination right (excluding such right in Section 11(E) below) following a Casualty, Landlord shall, within a reasonable amount of time after such Casualty, begin to restore the damage to the Property and the Premises and shall proceed with reasonable diligence thereafter to restore the Property and the Premises to substantially the same condition as they existed immediately before such Casualty.

Minor Insured Damage. In the event the Premises or the Buildingpremises, or any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 above, then Landlord insurance. Lessor shall promptly and in any event within 180 days after such damage or destruction occurs rebuild, repair and restore the damaged portion thereof, provided that (1) the amount of insurance proceeds available proceeds, and any amounts Lessee elects to Landlord provide to Lessor equals or exceeds the cost of such rebuilding, restoration and repair, . (2) such rebuilding, restoration and repair can be completed within one hundred eighty (180) days after the work commences in the opinion of a registered architect or engineer appointed by LandlordLessor, (3) the damage or destruction has occurred more than twelve (12) months before the expiration of the Term, Term and (4) such rebuilding, restoration restoration, or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floorsnet rentable floor area. To the extent that insurance proceeds must be paid to a mortgagee mortgage or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Projectpremises, such proceeds, for the purposes of this Section 18(A), subsection shall be deemed not available to Landlord unless Lessor regardless of whether such mortgagee or beneficiary permits Landlord Lessor to use such proceeds for the rebuilding, restoration restoration, and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord Lessor shall have no obligation to repair any damage to, or to replace any of, TenantLessee's personal property, furnishings, trade fixtures, equipment or other such property or effects of TenantLessee unless this damage or destruction was caused by the negligence of Lessor in an amount in excess of S10,000.00 in any one occurrence, or the intentional acts of Lessor, and is not covered by insurance. Any rebuilding or repairs referred to in this section shall be performed as promptly as reasonably possible under the circumstances subject to matters outside of Lessor's control.

Minor Insured Damage. In the event If the Premises or (other than the BuildingTenant’s FF&E) are damaged only to such extent that repairs, or any portion thereofrebuilding and/or restoration can be reasonably completed within ninety (90) days, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 above, then Landlord this Lease shall rebuild, repair and restore the damaged portion thereofnot terminate and, provided that (1) the amount of insurance proceeds are available and paid to Landlord equals or exceeds to fully repair the cost damage and/or Tenant otherwise voluntarily contributes any shortfall thereof to Landlord, Landlord shall repair the Premises to substantially the same condition that existed prior to the occurrence of such rebuildingcasualty, restoration and except Landlord shall not be required to rebuild, repair, or replace any of Tenant’s FF&E. The Rent payable hereunder shall be abated proportionately from the date and to the extent Tenant vacates the affected portions of the Premises until any and all repairs required herein to be made by Landlord are substantially completed but such abatement shall only be to the extent (2i) of the portion of the Premises which is actually rendered unusable and unfit for occupancy and only during the time Tenant is not actually using same, and (ii) Landlord receives rental abatement insurance proceeds therefor; provided if rental abatement insurance proceeds are not received as a result of Landlord’s failure to pay any premiums therefor, the receipt of such rebuilding, restoration and repair can proceeds shall not be completed a condition to rent abatement pursuant to this sentence. If Landlord fails to substantially complete such repairs within one two hundred eighty seventy (180270) days after the work commences date on which Landlord is notified by Tenant of the occurrence of such casualty [such 270-day period to be extended for delays caused by Tenant or any of Tenant’s Representatives (“Tenant Delays”) or any force majeure events, which events shall include, but not be limited to, acts or events beyond Landlord’s and/or its contractors’ control, acts of God, earthquakes, strikes, lockouts, riots, boycotts, casualties not caused by Landlord or Tenant, discontinuance of any utility or other service required for performance of the work, moratoriums, governmental delays in issuing permits, governmental agencies and weather, and the opinion lack of a registered architect availability or engineer appointed by Landlordshortage of materials (“Force Majeure Delays”)], Tenant may within ten (310) the damage or destruction has occurred more than twelve (12) months before the business days after expiration of such two hundred seventy (270) day period (as same may be extended), terminate this Lease by delivering written notice to Landlord as Tenant’s exclusive remedy, whereupon all rights of Tenant hereunder shall cease and terminate ten (10) business days after Landlord’s receipt of such notice and Tenant shall immediately vacate the Term, Premises and (4) such rebuilding, restoration or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion surrender possession thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floors. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, such proceeds, for the purposes of this Section 18(A), shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's personal property, furnishings, trade fixtures, equipment or other such property or effects of TenantLandlord.

Minor Insured Damage. In the event the Premises premises or the Buildingbuilding, or any portion thereof, is damaged or destroyed by any casualty that is covered by insurance, the insurance maintained by Landlord pursuant to Section 14 above, then Landlord Lessor shall rebuild, repair and restore the damaged portion thereof, provided that (1) the amount of insurance proceeds available to Landlord Lessor or such amounts, together with additional amounts supplied by Lessee, equals or exceeds the cost of such rebuilding, restoration and repair, (2) such rebuilding, restoration and repair can be completed within one hundred eighty (180) days after the work commences in the opinion of a registered architect or engineer appointed by LandlordLessor, (3) the damage or destruction has occurred more than twelve (12) months before the expiration of the Term, term and (4) such rebuilding, restoration restoration, or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floorsnet rentable floor area. To the extent that insurance proceeds must be paid to a mortgagee mortgage or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premisespremises, Building building or Projectproject, such proceeds, for the purposes of this Section 18(A)subsection, shall be deemed not available to Landlord Lessor unless such mortgagee or beneficiary permits Landlord Lessor to use such proceeds for the rebuilding, restoration restoration, and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord Lessor shall have no obligation to repair any damage to, or to replace any of, TenantLessee's personal property, furnishings, trade fixtures, equipment or other such property or effects of TenantLessee.

Minor Insured Damage. In the event the Premises or the Building, or any portion thereof, is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section 14 XIV. above, then Landlord shall rebuild, repair and restore the damaged portion thereof, provided that (1) the amount of insurance proceeds available to Landlord equals or exceeds the cost of such rebuilding, restoration and repair, (2) such rebuilding, restoration and repair can be completed within one hundred eighty twenty (180120) days after the work commences Premises or the Building is so damaged or destroyed in the opinion of a registered architect or engineer appointed by Landlord, (3) the damage or destruction has occurred more than twelve (12) months before the expiration of the Term, Term and (4) such rebuilding, restoration restoration, or repair is then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the damaged portion thereof to substantially its condition immediately prior to the damage or destruction, including, without limitation, substantially the same Rentable Area on each of the damaged floorsnet rentable floor area. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, Building or Project, such proceeds, for the purposes of this Section 18(A), Subsection shall be deemed not available to Landlord unless such mortgagee or beneficiary permits Landlord to use such proceeds for the rebuilding, restoration restoration, and repair of the damaged portion thereof. Notwithstanding the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant's personal property, furnishings, trade fixtures, equipment or other such property or effects of Tenant.