Common use of Partial Casualty Clause in Contracts

Partial Casualty. In the event the operations of the Hotel are substantially impaired, a substantial number of guest rooms are damaged or the entire Premises is temporarily and not permanently affected, as a result of a fire, casualty or event of Force Majeure, but the Hotel is not destroyed or rendered completely inoperable and the expected time to effect repairs to the Hotel to place the Hotel back in service on a basis comparable to the size and functionality immediately prior to such fire, casualty or event of Force Majeure (the “Repair Period”) is in excess of 12 months (as reasonably determined by Lessee) either Lessee or Manager may terminate this Agreement within sixty (60) days of such fire, casualty or event of Force Majeure, in which event neither Lessee nor Manager shall have any further rights, remedies, obligations or liabilities one to the other, hereunder, with respect to the Premises except as otherwise provided in Article II; provided, however, that in the event Manager gives notice of such a termination, Lessee shall not be required to pay Manager a Termination Fee and in the event Lessee gives such notice a Termination Fee will be payable by Lessee. If neither Manager nor Lessee terminates this Agreement pursuant to the immediately preceding sentence, Lessee shall cause Landlord to effect repairs to the Hotel as reasonably necessary to put the Hotel back in service on a basis comparable to the size and functionality of the Hotel immediately prior to the fire, casualty, or event of Force Majeure. In the event Lessee fails to proceed promptly with restoring the Hotel, Manager shall be entitled to terminate this Agreement with sixty (60) days prior written notice and no Termination Fee shall be payable by Lessee. Neither Manager nor Lessee shall be entitled to terminate this Agreement as a result of a partial casualty which requires the Hotel to cease operations for 12 months or less. During a Repair Period in which Manager continues to manage the Hotel, the Manager shall operate the Hotel in accordance with a revised Annual Operating Budget which shall reflect a reduction in staff levels as determined by Lessee.

Partial Casualty. In the event the operations of the Hotel are substantially impaired, a substantial number of guest rooms are damaged or the entire Premises is temporarily and not permanently affected, as a result of a fire, casualty or event of Force Majeure, but the Hotel is not destroyed or rendered completely inoperable and the expected time to effect repairs to the Hotel to place the Hotel back in service on a basis comparable to the size and functionality immediately prior to such fire, casualty or event of Force Majeure (the “Repair Period”) is in excess of 12 months (as reasonably determined by Lessee) either Lessee or Manager may terminate this Agreement within sixty (60) days of such fire, casualty or event of Force Majeure, in which event neither Lessee nor Manager shall have any further rights, remedies, obligations or liabilities one to the other, hereunder, with respect to the Premises except as otherwise provided in Article II; provided, however, that in the event Manager gives notice of such a termination, Lessee shall not be required to pay Manager a Termination Fee and in the event Lessee gives such notice a Termination Fee will be payable by Lessee. If neither Manager nor Lessee Xxxxxx terminates this Agreement pursuant to the immediately preceding sentence, Lessee shall cause Landlord to effect repairs to the Hotel as reasonably necessary to put the Hotel back in service on a basis comparable to the size and functionality of the Hotel immediately prior to the fire, casualty, or event of Force Majeure. In the event Lessee Xxxxxx fails to proceed promptly with restoring the Hotel, Manager shall be entitled to terminate this Agreement with sixty (60) days prior written notice and no Termination Fee shall be payable by LesseeXxxxxx. Neither Manager nor Lessee shall be entitled to terminate this Agreement as a result of a partial casualty which requires the Hotel to cease operations for 12 months or less. During a Repair Period in which Manager continues to manage the Hotel, the Manager shall operate the Hotel in accordance with a revised Annual Operating Budget which shall reflect a reduction in staff levels as determined by Lessee.

Partial Casualty. In the event the operations If twenty-five percent (25%) or less of the Hotel are substantially impaired, a substantial number of guest rooms Demised Premises are damaged by fire or other casualty (a “Partial Casualty”), Landlord shall, within ninety (90) days after such Partial Casualty, commence (which may include insurance adjustment and consultation with architects, space planners and engineers and need not include actually commencing construction work) and diligently proceed to complete the entire repairs and restoration of the Demised Premises is temporarily and not permanently affected, as a result of a fire, casualty or event of Force Majeure, but the Hotel is not destroyed or rendered completely inoperable and the expected time Building systems servicing same to effect repairs to the Hotel to place the Hotel back in service on a basis comparable to the size and functionality their condition immediately prior to the casualty (but exclusive of Tenant’s Property and any Privileged Alteration or Major Alteration made in contravention of the provisions of Article 11). If Landlord fails to complete such fire, casualty or event of Force Majeure repairs within nine (the “Repair Period”9) is in excess of 12 months (as reasonably determined by Lessee) either Lessee or Manager may terminate this Agreement within sixty (60) days after commencement of such firerepairs, casualty or event (which for purposes of Force Majeure63 this sentence shall mean actually commencing construction work) subject to extension for Unavoidable Delay and/or Tenant Operational Delay, then, in which event neither Lessee nor Manager shall have addition to any further rightsother remedy it may have, remedies, obligations Tenant may perform such repairs and restoration and deduct the reasonable costs thereof actually incurred by Tenant from Base Rent due or liabilities one that may become due and payable under this Lease until Tenant has been reimbursed fully for such costs. From the date of such damage to the otherdate when repair or the restoration of the Demised Premises shall be substantially completed, hereunderTenant shall pay Base Rent and Additional Rent for that part of the Demised Premises it continues to use and occupy on a per RSF basis, in an amount equal to the product of the dollar amount of Base Rent (allocable to such portion of the Demised Premises) per RSF payable on such date and the number of RSF being occupied by Tenant. C. TIME IS OF THE ESSENCE with respect to the Premises except as otherwise provided in Article II; provided, however, that in the event Manager gives notice of such a termination, Lessee shall not be required to pay Manager a Termination Fee and in the event Lessee gives such notice a Termination Fee will be payable by Lessee. If neither Manager nor Lessee terminates this Agreement pursuant to the immediately preceding sentence, Lessee shall cause time within which Tenant or Landlord to effect repairs to the Hotel as reasonably necessary to put the Hotel back in service on a basis comparable to the size and functionality of the Hotel immediately prior to the fire, casualty, or event of Force Majeure. In the event Lessee fails to proceed promptly with restoring the Hotel, Manager shall be entitled may elect to terminate this Agreement with sixty (60) days prior written notice and no Termination Fee shall be payable by Lessee. Neither Manager nor Lessee shall be entitled Lease pursuant to terminate this Agreement as a result of a partial casualty which requires the Hotel to cease operations for 12 months or less. During a Repair Period in which Manager continues to manage the Hotel, the Manager shall operate the Hotel in accordance with a revised Annual Operating Budget which shall reflect a reduction in staff levels as determined by LesseeArticle 15.