Obligation to Repair or Restore. If and only if all of the following circumstances exist with respect to damage or destruction to the Premises, Landlord may not elect to terminate this Lease as provided in Section 14.1 hereof but rather must elect to repair or restore the Premises:
(a) There is no fault or neglect on the part of the Tenant, Tenant’s agents, representatives, employees, customers or invitees which contributed to the damage or destruction;
(b) The cost to repair the damage or destruction to the Premises is less than fifty percent (50%) of the total replacement cost of the Premises as determined by Landlord;
(c) Landlord is fully insured for the casualty which causes the damage or destruction and the insurance proceeds have been made available therefor by the holder or holders of any mortgages or deeds of trust covering the Premises;
(d) The date of the damage or destruction is greater than one (1) year prior to the Expiration Date of this Lease or any renewal, modification or extension thereof; and
(e) Less than fifty percent (50%) of the rentable square feet of the Building [for multi building Projects: and less than fifty percent (50%) of the remaining rentable square feet of the Project (not including the Building)] is so damaged or destroyed, as determined by Landlord, regardless of the percentage of rentable square feet of the Premises which may be damaged or destroyed.
Obligation to Repair or Restore. If and only if all of the following conditions are met with respect to any casualty damage to or destruction of the Premises, Landlord or Tenant may not elect to terminate the Lease as provided in this Section, but rather Landlord must repair or restore the Premises:
(a) The damage or destruction to the Building and the Premises is less than fifty percent (50%) of the replacement cost thereof as determined by Landlord;
(b) The Landlord is either fully insured or insurance is required hereunder that would cover the casualty that caused the damage or destruction, the insurance claim has been paid, and the insurance proceeds have been made available to Landlord by the holder or holders of any mortgages or deeds of trust covering the Premises;
(c) The date of the damage or destruction is more than two (2) years prior to the Expiration Date or the expiration of any renewal or extension term; and
(d) Less than sixty percent (60%) of the total rentable area of the Building is so damaged or destroyed, as determined by Landlord, regardless of the percentage of rentable area of the Premises which may be damaged or destroyed.
Obligation to Repair or Restore. If and only if all of the following circumstances exist with respect to damage or destruction to the Premises, Landlord may not elect to terminate the Lease as provided in Section 14.1 hereof but rather must elect to repair or restore the Premises:
(a) There is no fault or neglect on the part of the Tenant, Tenant's agents, representatives, employees, customers, or invitees which contributed to the damage or destruction.
(b) The damage or destruction to the Premises is less than fifty percent (50%) of the replacement cost thereof as
(c) The Landlord is fully insured for the casualty which causes the damage or destruction and the insurance proceeds have been made available therefor by the holder or holders of any mortgages or deeds of trust covering the Premises.
(d) The date of the damage or destruction is greater than one year prior to the Expiration Date of this Lease or any renewal, modification or extension thereof; and Less than sixty percent (60%) of the rentable square feet of the Building is so damaged or destroyed, as determined by Landlord, regardless of the percentage of rentable square feet of the Premises which may be damaged or destroyed.
Obligation to Repair or Restore. If the Premises are damaged by fire or other casualty, unless IHFC has exercised its right to terminate, if any, under (S)11.1, IHFC shall with reasonable dispatch, and in any event within one hundred eighty (180) days, repair and restore the Premises to their condition existing at the date of the damage or destruction (except for alterations and improvements installed by Lessee and other property of Lessee, which Lessee shall repair and restore within that time) and this Lease shall remain in full force and effect except that rent shall xxxxx as provided in (S).11.3.
Obligation to Repair or Restore. Upon the occurrence of an Event of Loss described in clause (a) or (b) of the definition of Event of Loss (a “Total Loss”), the Lessee shall repair or restore the Facility and seek and obtain all necessary and advisable Permits so that the Undivided Interest shall have a current and residual value, remaining economic useful life and utility at least equal to that existing immediately prior to such Event of Loss, assuming the Facility was in the condition and repair required to be maintained by this Facility Lease as of the date of the Event of Loss, in accordance with the following conditions and procedures:
(a) The Lessee shall cause the repair or restoration of the Facility to commence and shall apply for all necessary or advisable Permits to commence construction as soon as reasonably practicable after the occurrence of such Event of Loss, but not later than 18 months after the occurrence of such Event of Loss, and will cause work on such repair or restoration and the acquisition of all such Permits to proceed diligently thereafter. In connection with any such repair or restoration, the Lessee shall comply with all Applicable Laws, permitting requirements and other requirements of any Governmental Entity, the MISO or any applicable regional transmission organization or independent system operator relevant to such repair or restoration and the Lessee shall be permitted and obligated, subject to the other requirements of the first sentence of this Section 10.2, to make such Modifications to the Facility as shall be necessary to comply with such Applicable Laws and requirements, including, if applicable, any requirements to use best available technology or similar concepts in respect of electric generating facilities using coal as a feedstock. In addition, the Lessee will grant access to such other parts of the Generating Station as may be necessary to accommodate the repair and restoration of the Facility. As the repair or restoration of the Facility progresses, title to an undivided interest equal to the Lessor’s Percentage in such repaired or restored Facility shall vest in the Lessor and such undivided interest shall become subject to this Facility Lease and, so long as the Lien of the Indenture shall not have been terminated or discharged, the Lien of the Indenture and be deemed a part of the Undivided Interest, for all purposes of this Facility Lease and the other Operative Documents, automatically without any further act by any Person.
(b) As prompt...
