Partial Damage to Premises. Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises or the Building. If the Premises or the Building are only partially damaged and if the proceeds received by Landlord from the insurance policies described in Subsection 7.1.2 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 provided, however, that if Landlord cannot repair the Premises within one hundred eighty (180) days after the damage occurs, then Tenant shall have the right to terminate this Lease as of the date the damage occurred by delivering notice to Landlord within ten (10) days of Landlord’s notice of the amount of time it will take Landlord to repair the damage. If (i) Tenant fails to deliver its notice of election to terminate within such ten (10) day period or if (ii) the damage was caused in whole or in part by Tenant’s negligence, then Tenant shall have waived its right to terminate this Lease. “Partially damaged” shall mean that the damage to the Premises or Building exceeds fifty percent (50%) of the replacement value of the Building or Premises. 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 Subsection 7.1.2, 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 the Lease. If the damage was due to an act or omission of Tenant, Tenant shall pay Landlord 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 the Building. 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...
Partial Damage to Premises. (a) TENANT shall notify LANDLORD in writing immediately upon the occurrence of any damage to the PREMISES. If (i) the PREMISES is only partially damaged (i.e., less than twenty-five percent (25%) of the PREMISES is untenantable as a result of such damage or (ii) less than twenty-five percent (25%) of TENANT’s operations are materially impaired), and if such damage is covered by insurance required to be carried by LANDLORD hereunder or otherwise carried by LANDLORD, this LEASE shall remain in effect and LANDLORD shall repair the damage as soon as reasonably possible. Notwithstanding the foregoing, in the event that (i) more than twenty-five percent (25%) of the PREMISES is untenantable as a result of such casualty, or (ii) more than twenty-five, percent (25%) of TENANT’s operations in the PREMISES are materially impaired as a result of such casualty, or (iii) in TENANT’s reasonable opinion, it would take more than one hundred eighty (180) days after the date of such casualty, to restore the PREMISES; TENANT shall have the right to terminate this LEASE, upon notice thereof to LANDLORD.
(b) If the cause of the damage is not covered by the insurance policies which LANDLORD is obligated to maintain under Section 4.04(b) or otherwise carried by LANDLORD, LANDLORD shall elect either to:
(i) repair the damage as soon as reasonably possible, in which case, subject to TENANT’s right of termination as set forth above, this LEASE shall remain in full force and effect, or
(ii) 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 the LEASE. LANDLORD’s failure to so notify TENANT within such period shall be deemed an election by LANDLORD to terminate this LEASE. 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, and in such event LANDLORD shall have no responsibility to repair or replace TENANT’s trade...
Partial Damage to Premises. In the event of damage to the Premises, and if the damage is only partial (meaning the cost to repair would not exceed twenty five percent (25%) of replacement value), the Lease shall remain in effect and Lessor shall repair the damage as soon as reasonably possible.
Partial Damage to Premises. Notwithstanding anything to the contrary contained in this Lease, in the event of partial damage to the premises, Landlord agrees, upon notification, to use its best efforts promptly to repair such damage. Tenant agrees to report to the best of its knowledge the extent of any partial damage to Landlord. Landlord shall be required, within ten (10) days of receipt of Tenant's notice, to give the time required for repair. Within ten (10) days of receiving Landlord's report and notification to repair, Tenant at its option may terminate this Lease as of the date of partial damage if the Premises cannot be restored within one hundred eight (180) days of the casualty. Tenant shall also have the option to terminate or to extend Landlord's time for completion if at the end of such one hundred eight (180) day period the restoration has not been completed. Notwithstanding the foregoing, Tenant shall not have such right of termination if the partial damage resulted from the actions or negligence of Tenant. In the event Tenant does not elect to terminate as provided hereunder, Landlord shall repair the partial damages rapidly as is feasible by using its best efforts.
Partial Damage to Premises. Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the damage can be completely repaired within ninety (90) days from the date of such damage and the cost of such repairs do not exceed fifty percent of the value of the Premises, Landlord shall repair the damage as soon as reasonably possible. If the damage cannot be repaired within 90 days of the date of such damages or the cost of such repairs exceeds 50% of the value of the premises this Lease SHALL TERMINATE 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 the Lease. If the damage to the Premises occurs during the last six (6) months of the Lease Term, and if such damage or destruction is not the result of the act or omission of Tenant, Landlord or Tenant may elect to terminate this Lease.
Partial Damage to Premises. If the Premises shall be partially damaged by fire or other cause without the fault or negligence of Tenant, Tenant's employees, agents, visitors or licensees, the damages shall be repaired by and at the expense of Landlord, and the rent until such repairs can be made shall be apportioned according to the part of the Premises which is usable by the Tenant. No penalty shall accrue for reasonable delay on account of labor troubles or any other cause beyond Landlord's control.
Partial Damage to Premises. Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the Premises are only partially damaged and if the proceeds received by Tenant from the insurance policies describe in Subsection 7.1.2 are sufficient to pay for the necessary repairs (including Landlord’s overhead and other customary indirect costs), this Lease shall remain in effect and Landlord shall repair the damage as soon as reasonably possible provided, however, that if Landlord cannot repair the Premises within one hundred eighty (180) days after the damage occurs, then Tenant shall have the right to terminate the Lease as of the date the damage occurred by delivering notice to Landlord within twenty (20) days of Landlord’s notice
Partial Damage to Premises. (a) Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the Premises is only partially damaged (i.e., less than fifty percent (50%) of the Premises is untenantable as a result of such damage or less than fifty percent (50%) of Tenant's operations are materially impaired) and if the proceeds received by Landlord from the insurance policies described in Paragraph 4.04
(b) 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 (but is not required) to repair any damage to Tenant's fixtures, equipment, or improvements.
Partial Damage to Premises. If the Premises are partially damaged, then this Lease shall remain in effect, and Landlord shall repair the Lease - 14 damage as soon as reasonably possible; provided, however, that if the insurance proceeds are not sufficient to pay the entire cost of repair, or if the cause of the damage is not covered by insurance policies and Landlord fails to repair the damage as soon as reasonably possible, then either party may elect to terminate this Lease, as of the date the damage occurred, by notifying the other party within thirty (30) days after the occurrence of such damage. In any event, if the damage was due to a negligent act or omission of Tenant, Tenant shall pay Landlord the difference between the cost of repair plus the cost of compliance with applicable building codes and regulations and any insurance proceeds received by Landlord (whether or not the Premises are in fact repaired). All proceeds of insurance shall in any event be payable and paid to Landlord. If Tenant makes required repairs, Landlord shall pay over to Tenant insurance proceeds up to, but not exceeding, the actual cost of repairs within ten days of Tenant completing the repairs (if proceeds have already been received by Landlord) or within three days of receipt of proceeds by Landlord, if received thereafter.
Partial Damage to Premises
