Common use of Partial Damage to Leased Premises Clause in Contracts

Partial Damage to Leased Premises. Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the premises is only partially damaged and if the proceeds received by Landlord from the insurance policies described in Article IV are sufficient to pay for the necessary repairs, this Lease shall remain in effect and Landlord shall repair the damage as soon as reasonably possible. Landlord may elect to repair any damage to Tenant's fixtures, equipment, or improvements. If the insurance proceeds received by Landlord are not sufficient to pay the entire cost of repair, or if the cause of the damage is not covered by the insurance policies which Landlord maintains under Article IV, Landlord may elect either to (a) repair the damage as soon as reasonably possible, in which case this Lease shall remain in full force and effect, or (b) terminate this Lease as of the date the damage occurred. Landlord shall notify Tenant within thirty (30) days after receipt of notice of the occurrence of the damage, whether Landlord elects to repair the damage or terminate this Lease. If Landlord elects to repair the damage, Tenant shall pay Landlord the "deductible amount" (if any) under Landlord's insurance policies or the Tenant's pro rata share thereof if the Premises is in a multi-tenant building, and, if the damage was due to the negligence or willful misconduct of Tenant, the difference between the actual cost of repair and any insurance proceeds received by Landlord. If Landlord elects to terminate this Lease, Tenant may elect to continue this Lease in full force and effect, in which case Tenant shall repair any damage to the Premises and any building in which the Premises is located. Tenant shall pay the cost of such repairs, except that, upon satisfactory completion of such repairs, Landlord shall deliver to Tenant any insurance proceeds received by Landlord for the damage repaired by Tenant. Tenant shall give Landlord written notice of such election within ten (10) days after receiving Landlord's termination notice. If the damage to the Premises occurs during the last six (6) months of the Lease Term, Landlord may elect to terminate this Lease as of the date the damage occurred, regardless of the sufficiency of any insurance proceeds and Landlord may retain all such proceeds. In such event, Landlord shall not be obligated to repair or restore the Premises and Tenant shall have no right to continue this Lease. Landlord shall notify Tenant of its election within thirty (30) days after receipt of notice of the occurrence of the damage. If the Landlord elects to repair the damage, Landlord shall include in Landlord's notice of such election an estimate of the time necessary to complete such repairs. Tenant shall have the right to terminate the Lease if (a) Landlord's estimate of the time required to repair the damage exceeds 120 days after the occurrence of such damage, or (b) such repairs are not completed within 180 days after the occurrence of such damage, or (c) the damage occurs within six months of the end of the Term of the Lease.

Partial Damage to Leased Premises. Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the premises Premises is only partially damaged (meaning the cost to repair would not exceed twenty-five percent (25%) of replacement value) and if the proceeds received by Landlord from the insurance policies described in Article IV (together with the deductible, if any) are sufficient to pay for the necessary repairs, this Lease shall remain in effect and Landlord shall repair the damage as soon as reasonably possible. Landlord may elect to repair any damage to Tenant's fixtures, equipment, or improvements. If the insurance proceeds received by Landlord (together with the deductible, if any) are not sufficient to pay the entire cost of repair, or if the cause of the damage is not covered by the insurance policies which Landlord maintains under Article IV, Landlord may elect either to (a) repair the damage as soon as reasonably possible, in which case this Lease shall remain in full force and effect, or (b) terminate this Lease as of the date the damage occurred. Landlord shall notify Tenant within thirty (30) days after receipt of notice of the occurrence of the damage, whether Landlord elects to repair the damage or terminate this Lease. If Landlord elects to repair the damage, Tenant shall pay Landlord the "deductible amount" (if any) under Landlord's insurance policies or the Tenant's pro rata share thereof if the Premises is in a multi-tenant building, and, if the damage was due to the negligence an act or willful misconduct omission of Tenant, the difference between the actual cost of repair and any insurance proceeds received by Landlord. If Landlord elects to terminate this Lease, Tenant may elect to continue this Lease in full force and effect, in which case Tenant shall repair any damage to the Premises and any building in which the Premises is located. Tenant shall pay the cost of such repairs, except that, upon satisfactory completion of such repairs, Landlord shall deliver to Tenant any insurance proceeds received by Landlord for the damage repaired by Tenant. Tenant shall give Landlord written notice of such election within ten (10) days after receiving Landlord's termination notice. If the damage to the Premises occurs during the last six (6) months of the Lease Term, Landlord may elect to terminate this Lease as of the date the damage occurred, regardless of the sufficiency of any insurance proceeds and Landlord may retain all such proceeds. In such event, Landlord shall not be obligated to repair or restore the Premises and Tenant shall have no right to continue this Lease. Landlord shall notify Tenant of its election within thirty (30) days after receipt of notice of the occurrence of the damage. If the Landlord elects to repair the damage, Landlord shall include in Landlord's notice of such election an estimate of the time necessary to complete such repairs. Tenant shall have the right to terminate the Lease if (a) Landlord's estimate of the time required to repair the damage exceeds 120 days after the occurrence of such damage, or (b) such repairs are not completed within 180 days after the occurrence of such damage, or (c) the damage occurs within six months of the end of the Term of the Lease.

Partial Damage to Leased Premises. Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the premises Premises is only partially damaged (meaning the cost to repair would not exceed twenty-five percent (25%,) of replacement value) and if the proceeds received by Landlord from the insurance policies described in Article IV (together with the deductible, if any) are sufficient to pay for the necessary repairs, this Lease shall remain in effect and Landlord shall repair the damage as is soon as reasonably possible. Landlord may elect to repair any damage to Tenant's ’s fixtures, equipment, or improvementsorimprovements. If the insurance proceeds received by Landlord (together with die deductible, if any) are not sufficient to pay the entire cost of repair, or if the cause of the damage is not covered by the insurance policies which Landlord maintains under Article IV, Landlord may elect either to (a) repair the damage as soon as reasonably possible, in which case this Lease shall remain in full force and effect, or (b) terminate this Lease as of the date the damage occurred. Landlord shall use reasonable efforts to notify Tenant within thirty sixty (3060) days after receipt of notice of the occurrence of the damage, whether Landlord elects to repair the damage or terminate this Lease. If Landlord elects to repair the damage, Tenant shall pay Landlord the "Tenant’s pro-rata share of any “deductible amount" (if any) ” under Landlord's ’s insurance policies or the Tenant's pro rata share thereof if the Premises is in a multi-tenant buildingpolicies, and, if the damage was due to the negligence an act or willful misconduct omission of Tenant, the difference between the actual cost of repair and any insurance proceeds received by Landlord. If Landlord elects to terminate this Lease, Tenant may elect to continue this Lease in full force and effect, in which case Tenant shall repair any damage to the Premises and any building in which the Premises is located. Tenant shall pay the cost of such repairs, except that, upon satisfactory completion of such repairs, Landlord shall deliver to Tenant any insurance proceeds received by Landlord for the damage repaired by Tenant. Tenant shall give Landlord written notice of such election within ten (10) days after receiving Landlord's termination notice. If the damage to the Premises occurs during the last six (6) months of the Lease Term, Landlord may elect to terminate this Lease as of the date the damage occurred, regardless of the sufficiency of any insurance proceeds and Landlord may retain all such insurance proceeds. In such event, Landlord shall not be obligated to repair or restore the Premises and Tenant shall have no right to continue this Lease. Landlord shall notify Tenant of its election within thirty (30) days after receipt of notice of the occurrence of the damage. If the Premises are destroyed as described ill this Section, and Landlord elects to repair the damage, Landlord shall include in Landlord's will give Tenant written notice of such election an estimate of the estimated time necessary to complete such repairs. Tenant shall have the right to terminate the Lease if (a) Landlord's estimate of the time required period that Landlord has determined in its reasonable discretion will be needed to repair the damage exceeds 120 destruction. Such notice, provided Landlord elects to repair the damage, will be given on or before the expiration of one-hundred twenty (120) days (the “notice date”) after the occurrence of such damage, or any destruction as described above. If the Premises are destroyed to an extent Landlord has determined in its reasonable discretion Landlord call not commence repairs within three hundred sixty five (b365) such repairs are not completed within 180 days after the occurrence notice date, then Tenant may cancel this Lease as or the (late of the damage by written notice given to Landlord within ten (10) days after Landlord’s delivery of a written notice that die commencement of repairs will not occur within such three hundred sixty five (365) day period. If the Premises are destroyed as described in this Section, and Landlord elects to repair the damage, or (c) Landlord will reasonably approve Tenant’s use of a temporary structure on the Premises to be installed and maintained at Tenant’s sole expense from which Tenant can conduct business operations until such time that the damage occurs within six months of the end of the Term of the Leaseis repaired.

Partial Damage to Leased Premises. Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the premises Premises is only partially damaged (meaning the cost to repair would not exceed ten percent of replacement value as reasonably determined by Landlord) and if the proceeds received by Landlord from the insurance policies described in Article IV 4 (together with the deductible, if any) are sufficient to pay for the necessary repairs, this Lease shall remain in effect and Landlord shall repair the damage as soon as reasonably possible. Landlord may elect to shall repair any damage to Tenant's ’s fixtures, equipment, or improvements. If the insurance insurances proceeds received by Landlord (together with the deductible, if any) are not sufficient to pay the entire cost of repair, or if the cause of the damage is not covered by the insurance policies which Landlord maintains under Article IV4, Landlord may elect either to (a) repair the damage as soon as reasonably possible, in which case this Lease shall remain in full force and effect, or (b) terminate this Lease as of the date the damage occurred. Landlord shall notify Tenant within thirty (30) days after receipt of notice of the occurrence of the damage, whether Landlord elects to repair the damage or terminate this Lease. If Landlord elects to repair the damage, Tenant shall pay the full cost thereof in excess of any insurance proceeds paid to Landlord the "deductible amount" (if any) under Landlord's insurance policies or the Tenant's pro rata share thereof if the Premises is in a multi-tenant building, and, if the damage was due to the negligence an act or willful misconduct omission of Tenant, the difference between the actual cost of repair and any insurance proceeds received by Landlord. If Landlord elects to terminate this Lease, Tenant may elect to continue this Lease in full force and effect, in which case Tenant shall repair any damage to the Premises and any building in which the Premises is located. Tenant shall pay the cost of such repairs, except that, upon satisfactory completion of such repairs, Landlord shall deliver to Tenant any insurance proceeds received by Landlord for the damage repaired by Tenant. Tenant shall give Landlord written notice of such election within ten (10) days after receiving Landlord's termination notice. If the damage to the Premises occurs during the last six (6) months of the Lease Term, Landlord may elect to terminate this Lease as of the date the damage occurred, regardless of the sufficiency of any insurance proceeds and Landlord may retain all such proceeds. In such event, Landlord shall not be obligated to repair or restore the Premises and Tenant shall have no right to continue this Lease. Landlord shall notify Tenant of its election within thirty (30) days day after receipt of notice of the occurrence of the damage. If the Landlord elects to repair the damage, Landlord shall include in Landlord's notice of such election an estimate of the time necessary to complete such repairs. Tenant shall have the right to terminate the Lease if (a) Landlord's estimate of the time required to repair the damage exceeds 120 days after the occurrence of such damage, or (b) such repairs are not completed within 180 days after the occurrence of such damage, or (c) the damage occurs within six months of the end of the Term of the Lease.