Common use of Obligation to Rebuild Clause in Contracts

Obligation to Rebuild. If any portion of the Premises is damaged or destroyed by fire or other casualty, Tenant shall forthwith give notice thereof to Landlord. Tenant shall, at its sole cost and expense, diligently repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, to the condition they were in prior to such damage or destruction, except for permitted Alterations and such changes in design or materials as may then be required by applicable Laws. Landlord, in such event, shall, to the extent and at the times the proceeds of the insurance are made available to Landlord, reimburse Tenant for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord may reasonably require. To the extent that available proceeds of insurance are insufficient to pay the entire cost of making such repairs, restoration, rebuilding and replacements, and notwithstanding the expiration or termination of the Lease Term of this Lease, Tenant shall pay the amount by which such costs exceed the available insurance proceeds. Any surplus of insurance proceeds over the cost of restoration, net of all reasonable out-of-pocket expenses incurred by Landlord in connection with the administration thereof, shall be promptly paid over to Tenant. Notwithstanding the foregoing, if any such damage or destruction occurs during any Extension Period, Tenant may elect to terminate this Lease upon written notice to Landlord within sixty (60) days after the occurrence of such damage or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through the date of termination, and except as to obligations hereunder which expressly survive any termination of this Lease. In the event of any such termination of this Lease, Landlord shall be entitled to retain all proceeds of insurance relating to such damage and destruction, and Tenant shall promptly pay to Landlord any such insurance proceeds received by Tenant and hereby assigns to Landlord all rights of Tenant to receive such insurance proceeds.

Obligation to Rebuild. (i) If any portion of the Premises Mortgaged Property is damaged or destroyed by fire or other casualty, Tenant shall forthwith give notice thereof subject to Landlord. Tenant Section 1(g)(iv) above, Borrower shall, at its sole cost and expense, diligently forthwith repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, to the condition they were in prior to such damage or destruction, except for permitted Alterations and such changes in design or materials as may then be required by applicable Lawslaw or are approved by Lender in Lender's reasonable discretion. LandlordLender, in such event, shall, to the extent and at the times the proceeds of the insurance are made available to LandlordLender, reimburse Tenant Borrower for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord Lender may reasonably require. To the extent extent, if any, that available the proceeds of insurance made available as aforesaid are insufficient to pay the entire cost of making such repairs, restoration, rebuilding and replacements, and notwithstanding the expiration or termination of the Lease Term of this Lease, Tenant Borrower shall pay the amount by which such costs exceed the available insurance proceeds. Any surplus of insurance proceeds over the cost of restoration, net of all reasonable out-of-pocket expenses incurred by Landlord in connection with the administration thereof, shall be promptly paid over to Tenant. made available as aforesaid. (ii) Notwithstanding the foregoing, if any such damage in the event that Borrower fails to commence the repair or destruction occurs during any Extension Period, Tenant may elect restoration of the Mortgaged Property pursuant to terminate this Lease upon written notice to Landlord Section 1(j) within sixty (60) days after the occurrence casualty, or if Borrower abandons or fails to diligently pursue completion of such damage repair or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through the date of terminationrestoration (as determined in Lender's reasonable judgment), and except as to obligations hereunder which expressly survive any termination of this Lease. In the event of any such termination of this Lease, Landlord then Lender shall be entitled to retain apply the insurance proceeds first towards reimbursement of all costs and expenses of Lender in collecting the proceeds of insurance relating to such damage (including, without limit, court costs and destructionreasonable attorneys' fees), and Tenant then toward any payment of the Indebtedness or any portion of it, whether or not then due or payable and in whatever order of maturity as Lender may elect. Application of proceeds by Lender toward later maturing installments of the Indebtedness shall promptly pay to Landlord not excuse Borrower from making the regularly scheduled installment payments nor shall such application extend or reduce the amount of any such insurance proceeds received by Tenant and hereby assigns to Landlord all rights of Tenant to receive such insurance proceedsthese payments.

Obligation to Rebuild. If any portion In the event Lender does not apply the Proceeds or Awards to prepayment of the Premises is damaged Loan as provided for in Section 8.1 hereof or destroyed by fire in the event such Proceeds or other casualtyAwards, Tenant if applied, do not fully discharge the Loan, Borrower shall: (a) Proceed with diligence to make settlement (which shall forthwith give notice thereof to Landlord. Tenant shall, at its sole cost and expense, diligently repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, be subject to the condition they were approval of Lender) with insurers or with condemning authorities and cause the Proceeds or Awards to be deposited with Lender, unless Lender elects to exercise its right under the Mortgage to make such settlement without the consent of Borrower; (b) In the event of any unreasonable delay in prior making settlement with insurers or effecting collection of Proceeds or Awards, deposit with Lender the full amount required to place the Loan in Balance, disregarding such damage Proceeds or destruction, except for permitted Alterations Awards; (c) In the event the Proceeds or Awards deposited with Lender and such changes in design or materials as may then be required by applicable Laws. Landlord, in such event, shall, to the extent and at the times the undisbursed proceeds of the insurance are made available to Landlord, reimburse Tenant for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord may reasonably require. To the extent that available proceeds of insurance Loan are insufficient to pay place the entire cost Loan in Balance, deposit with Lender upon demand any amount necessary, to place the Loan in Balance; and (d) Promptly proceed with resumption of making such repairs, restoration, rebuilding construction and replacements, and notwithstanding the expiration or termination restoration of the Lease Term of this Leaseaffected Homes, Tenant shall pay including the amount by which such costs exceed the available insurance proceeds. Any surplus of insurance proceeds over the cost of restoration, net repair of all reasonable out-of-pocket expenses incurred by Landlord such loss or damage, in connection accordance with the administration thereofterms of the Mortgage. All Proceeds, Awards and funds deposited by Borrower hereunder shall first be promptly paid over to Tenant. Notwithstanding fully disbursed before the foregoing, if disbursement of any such damage or destruction occurs during any Extension Period, Tenant may elect to terminate this Lease upon written notice to Landlord within sixty (60) days after further proceeds of the occurrence of such damage or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through the date of termination, and except as to obligations hereunder which expressly survive any termination of this LeaseLoan. In the event of any such termination deposit by Borrower of this Leasethe full amount required to complete construction of the Project, Landlord shall be entitled to retain all proceeds of insurance relating to such damage and destructionas aforesaid, and Tenant shall promptly pay to Landlord any the subsequent receipt of Proceeds or Awards, such insurance proceeds received Proceeds or Awards, as and when received, may be collected and retained by Tenant and hereby assigns to Landlord all rights of Tenant to receive such insurance proceedsBorrower.

Obligation to Rebuild. If any portion of the Premises is damaged or destroyed by fire or other casualty, Tenant shall forthwith give notice thereof to Landlord. Tenant shall promptly obtain an estimate from a licensed architect or contractor of the cost to complete such repair, restoration, rebuilding or replacement, and Tenant shall, at its sole cost and expense, diligently promptly repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, to the condition they were in prior to such damage or destruction, except for permitted Alterations and such changes in design or materials as may then be required by applicable Lawslaw. Landlord, in In such event, Landlord shall, to the extent and at the times the proceeds of the insurance are made available to Landlord, and only so long as Tenant shall not be in default under this Lease, reimburse Tenant for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord may reasonably requirethey are completed, but not more often than once each month, upon receipt of a written request therefor, which request shall be accompanied by a certification from Tenant's architect certifying as to completion of the work for which reimbursement is being requested. To the extent extent, if any, that available the proceeds of insurance made available by Landlord are insufficient to pay the entire cost of making such repairs, restoration, rebuilding and replacements, and notwithstanding the expiration or termination of the Lease Term of this Lease, Tenant shall pay the amount by which such costs exceed the available insurance proceedsremainder. Any surplus of insurance proceeds over the cost of restoration, net of all reasonable out-of-pocket expenses incurred by Landlord in connection with the administration thereof, shall be promptly paid over to TenantLandlord. Tenant hereby waives any statutory right relating to casualties, it being understood and agreed by the parties that the provisions of this Article 8 shall govern and control in all events. 8.1.1 Notwithstanding the foregoing, if in the event Tenant is unable to obtain any such damage necessary governmental approvals, authorizations or destruction occurs during any Extension Periodpermits, Tenant may elect to terminate this Lease upon written notice to Landlord within despite Tenant's diligent pursuit of same, three hundred sixty (60360) calendar days after the occurrence of such damage or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through from the date of terminationsuch fire or casualty (such period not to include unreasonable delays caused by Tenant), and except as Tenant shall have the option to obligations hereunder which expressly survive any termination of terminate this Lease. In the event of any such termination of this LeaseTenant elects to so terminate, Landlord shall be entitled to retain all proceeds of insurance relating to such damage and destruction, and Tenant shall promptly pay to Landlord any such the difference, if any, between the insurance proceeds received by Tenant Landlord and hereby assigns to Landlord all rights the unamortized portion of Tenant to receive such insurance proceedsthe Premises Cost.

Obligation to Rebuild. If any portion of the Premises is damaged or destroyed by fire or other casualty, Tenant shall forthwith give notice thereof to Landlord. Tenant shallshall promptly obtain an estimate from a licensed architect or contractor of the cost to complete such repair, at restoration, rebuilding or replacement. At its sole cost and expense, diligently Tenant shall promptly repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, to the condition they were in prior to such damage or destruction, except for permitted Alterations and such changes in design or materials as may then be required by applicable Lawslaw. Landlord, in In such event, shall, Landlord shall (to the extent and at the times the proceeds of the insurance are made available to Landlord, and only so long as Tenant is not in default under this Lease), reimburse Tenant for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord may reasonably requirethey are completed, but not more often than once each month, upon receipt of a written request therefor. Such request shall be accompanied by a certification from Tenant's architect certifying the completion of the work for which reimbursement is being requested. To the extent extent, if any, that the insurance proceeds made available proceeds of insurance by Landlord are insufficient to pay the entire cost of making such repairs, restoration, rebuilding and replacements, and notwithstanding the expiration or termination of the Lease Term of this Lease, Tenant shall pay the amount by which such costs exceed remainder. In the available insurance proceeds. Any surplus of event that Tenant elects to terminate this Lease and the insurance proceeds over are less than the cost amount of restorationthe unpaid rent under the Ground Lease for the balance of the Ground Lease term, net of all reasonable out-of-pocket expenses incurred by Tenant agrees to pay the difference to Landlord in connection with the administration thereof, cash (or cash equivalent) within thirty (30) days after receipt of a xxxx from Landlord. The provisions of Article 8 shall be promptly paid over to Tenant. governed by Article 17 of the Ground Lease. 8.1.1 Notwithstanding the foregoing, if and pursuant to the terms of Section 17.04 of the Ground Lease, in the event Tenant is unable to complete such repairs, restoration, rebuilding and replacements, because of its inability to obtain any such damage necessary governmental approvals, authorizations or destruction occurs during any Extension Periodpermits, Tenant may elect to terminate this Lease upon written notice to Landlord within sixty (60) despite Tenant's diligent pursuit of same, 360 calendar days after the occurrence of such damage or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through from the date of terminationsuch fire or casualty (such period not to include unreasonable delays caused by Tenant), Landlord and/or Ground Lessor may, (a) terminate this Lease, or (b) raze (or cause to be razed) any improvements on the Premises, rough grade (or cause to be rough graded) the land on which the improvements had been built and except as restore (or cause to obligations hereunder which expressly survive any termination be restored) the cleared area to either a hard surface condition or a landscaped condition until a replacement building is erected, if ever, in accordance with the terms of this Lease and the Ground Lease. Tenant shall have the option to terminate this Lease. In the event of any such termination of this Lease, Landlord shall be entitled Tenant elects to retain all proceeds of insurance relating to such damage and destructionso terminate, and the insurance proceeds are less than the amount of the unpaid Rent under the Ground Lease for the balance of the Ground Lease Term, Tenant shall promptly agrees to pay to Landlord any such the difference, if any, between the insurance proceeds received by Tenant Landlord and hereby assigns to Landlord all rights of Tenant to receive such insurance proceeds.the Unamortized Premises Cost in cash or cash equivalent. 19

Obligation to Rebuild. If any portion of the Premises is damaged or destroyed by fire or other casualty, casualty Tenant shall forthwith give notice thereof to Landlord. Tenant shall promptly obtain an estimate from a licensed architect or contractor of the cost to complete such repair, restoration, rebuilding or replacement, and Tenant shall, at its sole cost and expense, diligently promptly repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, to the condition they were in prior to such damage or destruction, except for permitted Alterations and such changes in design or materials as may then be required by applicable Lawslaw. Landlord, in In such event, Landlord shall, to the extent and at the times the proceeds of the insurance are made available to Landlord, and only so long as Tenant shall not be in default under this Lease, reimburse Tenant for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord may reasonably requirethey are completed, but not more often than once each month, upon receipt of a written request therefor, which request shall be accompanied by a certification from Tenant's architect certifying as to completion of the work for which reimbursement is being requested. To the extent extent, if any, that available the proceeds of insurance made available by Landlord are insufficient to pay the entire cost of making such repairs, restoration, rebuilding and replacements, and notwithstanding the expiration or termination of the Lease Term of this Lease, Tenant shall pay the amount by which such costs exceed the available insurance proceedsremainder. Any surplus of insurance proceeds over the cost of restoration, net of all reasonable out-of-pocket expenses incurred by Landlord in connection with the administration thereof, shall be promptly paid over to TenantLandlord. Tenant hereby waives any statutory right relating to casualties, it being understood and agreed by the parties that the provisions of this Article 8 shall govern and control in all events. 8.1.1 Notwithstanding the foregoing, if in the event Tenant is unable to obtain any such damage necessary governmental approvals, authorizations or destruction occurs during any Extension Periodpermits, Tenant may elect to terminate this Lease upon written notice to Landlord within despite Tenant's diligent pursuit of same, three hundred sixty (60360) calendar days after the occurrence of such damage or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through from the date of terminationsuch fire or casualty (such period not to include unreasonable delays caused by Tenant), and except as Tenant shall have the option to obligations hereunder which expressly survive any termination of terminate this Lease. In the event of any such termination of this LeaseTenant elects to so terminate, Landlord shall be entitled to retain all proceeds of insurance relating to such damage and destruction, and Tenant shall promptly pay to Landlord any such the difference, if any, between the insurance proceeds received by Tenant Landlord and hereby assigns to Landlord all rights the unamortized portion of Tenant to receive such insurance proceedsthe Premises Cost.

Obligation to Rebuild. If any portion of the Premises is damaged or destroyed by fire or other casualty, Tenant shall forthwith give notice thereof to Landlord. Tenant shall promptly obtain an estimate from a licensed architect or contractor of the cost to complete such repair, restoration, rebuilding or replacement, and Tenant shall, at its sole cost and expense, diligently promptly repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, to the condition they were in prior to such damage or destruction, except for permitted Alterations and such changes in design or materials as may then be required by applicable Lawslaw. Landlord, in In such event, Landlord shall, to the extent and at the times the proceeds of the insurance are made available to Landlord, and only so long as Tenant shall not be in default under this Lease, reimburse Tenant for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord may reasonably requirethey are completed, but not more often than once each month, upon receipt of a written request therefor, which request shall be accompanied by a certification from Tenant's architect certifying as to completion of the work for which reimbursement is being requested. To the extent extent, if any, that available the proceeds of insurance made available by Landlord are insufficient to pay the entire cost of making such repairs, restoration, rebuilding and replacements, and notwithstanding the expiration or termination of the Lease Term of this Lease, Tenant shall pay the amount by which such costs exceed the available insurance proceedsremainder. Any surplus of insurance proceeds over the cost of restoration, net of all reasonable out-of-pocket expenses incurred by Landlord in connection with the administration thereof, shall be promptly paid over to TenantLandlord. Tenant hereby waives any statutory right relating to casualties, it being understood and agreed by the parties that the provisions of this Article 8 shall govern and control in all events. 8.1.1 Notwithstanding the foregoing, if in the event Tenant is unable to obtain any such damage necessary; governmental approvals, authorizations or destruction occurs during any Extension Periodpermits, Tenant may elect to terminate this Lease upon written notice to Landlord within despite Tenant's diligent pursuit of same, three hundred sixty (60360) calendar days after the occurrence of such damage or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through from the date of terminationsuch fire or casualty (such period not to include unreasonable delays caused by Tenant), and except as Tenant shall have the option to obligations hereunder which expressly survive any termination of terminate this Lease. In the event of any such termination of this LeaseTenant elects to so terminate, Landlord shall be entitled to retain all proceeds of insurance relating to such damage and destruction, and Tenant shall promptly pay to Landlord any such the difference, if any, between the insurance proceeds received by Tenant Landlord and hereby assigns to Landlord all rights the unamortized portion of Tenant to receive such insurance proceeds.the Premises Cost

Obligation to Rebuild. If any portion of the Premises is damaged or destroyed by fire or other casualty, Tenant shall forthwith give notice thereof to Landlord. Tenant shall Sterling Master Form Lease 11/07/00 promptly obtain an estimate from a licensed architect or contractor of the cost to complete such repair, restoration, rebuilding or replacement, and tenant shall, at its sole cost and expense, diligently promptly repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, to the condition they were in prior to such damage or destruction, except for permitted Alterations and such changes in design or materials as may then be required by applicable Lawslaw. Landlord, in In such event, Landlord shall, to the extent and at the times the proceeds of the insurance are made available to Landlord, and only so long as Tenant shall not be in default under this Lease, reimburse Tenant for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord may reasonably requirethey are completed, but not more often than once each month, upon receipt of a written request therefor, which request shall be accompanied by a certification from Tenant's architect certifying as to completion of the work for which reimbursement is being requested. To the extent extent, if any, that available the proceeds of insurance made available by Landlord are insufficient to pay the entire cost of making such repairs, restoration, rebuilding and replacements, and notwithstanding the expiration or termination of the Lease Term of this Lease, Tenant shall pay the amount by which such costs exceed the available insurance proceedsremainder. Any surplus of insurance proceeds over the cost of restoration, net of all reasonable out-of-pocket expenses incurred by Landlord in connection with the administration thereof, shall be promptly paid over to TenantLandlord. Tenant hereby waives any statutory right relating to casualties, it being understood and agreed by the parties that the provisions of this Article 8 shall govern and control in all events. 8.1.1 Notwithstanding the foregoing, if in the event Tenant is unable to obtain any such damage necessary governmental approvals, authorizations or destruction occurs during any Extension Periodpermits, Tenant may elect to terminate this Lease upon written notice to Landlord within despite Tenant's diligent pursuit of same, three hundred sixty (60360) calendar days after the occurrence of such damage or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through from the date of terminationsuch fire or casualty (such period not to include unreasonable delays caused b Tenant), and except as Tenant shall have the option to obligations hereunder which expressly survive any termination of terminate this Lease. In the event of any such termination of this LeaseTenant elects to so terminate, Landlord shall be entitled to retain all proceeds of insurance relating to such damage and destruction, and Tenant shall promptly pay to Landlord any such the difference, if any, between the insurance proceeds received by Tenant Landlord and hereby assigns to Landlord all rights the unamortized portion of Tenant to receive such insurance proceedsthe Premises Cost.

Obligation to Rebuild. If any portion of the Premises is damaged or destroyed by fire or other casualty, Tenant shall forthwith give notice thereof to Landlord. Tenant shall promptly obtain an estimate from a licensed architect or contractor of the cost to complete such repair, restoration, rebuilding or replacement, and Tenant shall, at its sole cost and expense, diligently promptly repair, restore, rebuild or replace the damaged or destroyed improvements, fixtures or equipment, and diligently complete the same as soon as reasonably possible, to the condition they were in prior to such damage or destruction, except for permitted Alterations and such changes in design or materials as may then be required by applicable Lawslaw. Landlord, in In such event, Landlord shall, to the extent and at the times the proceeds of the insurance are made available to Landlord, and only so long as Tenant shall not be in default under this Lease, reimburse Tenant for the costs of making such repairs, restoration, rebuilding and replacements on such terms as Landlord may reasonably requirethey are completed, but not more often than once each month, upon receipt of a written request therefor, which request shall be accompanied by a certification from Tenant's architect certifying as to completion of the work for which reimbursement is being requested. To the extent extent, if any, that available the proceeds of insurance made available by Landlord are insufficient to pay the entire cost of making such repairs, restoration, rebuilding and replacements, and notwithstanding the expiration or termination of the Lease Term of this Lease, Tenant shall pay the amount by which such costs exceed the available insurance proceedsremainder. Any surplus of insurance proceeds over the cost of restoration, net of all reasonable out-of-pocket expenses incurred by Landlord in connection with the administration thereof, shall be promptly paid over to TenantLandlord. Tenant hereby waives any statutory right relating to casualties, it being understood and agreed by the parties that the provisions of this Article 8 shall govern and control in all events. 8.1.1 Notwithstanding the foregoing, if in the event Tenant is unable to obtain any such damage necessary governmental approvals, authorizations or destruction occurs during any Extension Periodpermits, Tenant may elect to terminate this Lease upon written notice to Landlord within despite Tenant's diligent pursuit of same, three hundred sixty (60360) calendar days after the occurrence of such damage or destruction provided Tenant pays to Landlord all rent and other amounts accruing under this Lease through from the date of terminationsuch fire or casualty (such period not to include unreasonable delays caused by Tenant), and except as Tenant shall have the option to obligations hereunder which expressly survive any termination of ten11inate this Lease. In the event of any such termination of this LeaseTenant elects to so terminate, Landlord shall be entitled to retain all proceeds of insurance relating to such damage and destruction, and Tenant shall promptly pay to Landlord any such the difference, ,if any, between the insurance proceeds received by Tenant Landlord and hereby assigns to Landlord all rights the unamortized portion of Tenant to receive such insurance proceedsthe Premises Cost.