Partial Destruction of Building. In the event that fifty (50%) percent or more of the rentable area of the building in which the Leased Premises are located shall be damaged or destroyed by fire or other cause, notwithstanding any other provisions contained herein and that the Leased Premises may be unaffected by such fire or other cause, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days after said occurrence, to elect to cancel and terminate this Lease. Upon the giving of such notice to Tenant, the term of this Lease shall expire by lapse of time upon the thirtieth day after such notice is given, and Tenant shall vacate the Leased Premises and surrender the same to Landlord; provided, however, in the event the building is deemed to be a hazard or danger by any governmental agency, the Lease shall expire upon the third day after notice is given.
Partial Destruction of Building. In the event that more than one third (1/3) of the gross leasable area of the Building shall be damaged or destroyed by fire or other cause, notwithstanding that the Premises may be unaffected by such fire or other cause, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days after said occurrence, to terminate this Lease. Upon the giving of such notice, the term of this Lease shall expire fifteen (15) days after such notice is given, the rent and other charges shall be payable through such date, subject to proportional abatement, and Tenant shall vacate the Premises and surrender the same to Landlord.
Partial Destruction of Building a. If at any time during the term of this agreement the building is damaged by fire, act of nature, or other cause beyond the control of Lessee, to the extent that continued use of the building is unfeasible, Lessee may, on written notice to City delivered within thirty (30) days after the damage has occurred, suspend or terminate this agreement without any liability of Lessee to City except for the payment of concession fees accrued to the date of termination.
b. If Xxxxxx does not elect to terminate this agreement, City shall, with due diligence, restore the building to operative condition, but City shall not be obligated under this provision to expend on such restoration more that the proceeds of any insurance received by it on account of damage.
c. City shall not be responsible for any profits lost by Xxxxxx due to the partial destruction of the building.
Partial Destruction of Building. If (a) fifty percent (50%) or more of the Building is damaged or destroyed by an insured risk, or (b) fifteen percent (15%) or more of the Building is damaged or destroyed by an uninsured risk and Tenant’s use of the Leased Premises is materially impaired, then Landlord may, at its option, cancel and terminate this Lease by giving written notice of its election to do so within ninety (90) days from the date of occurrence of such damage or destruction in which event the term of this Lease shall expire at the end of the calendar month in which such notice is given and Tenant shall thereupon surrender the Leased Premises to Landlord.
Partial Destruction of Building. If thirty percent (30%) or more of the leasable area of the Building is damaged or destroyed, notwithstanding that the Leased Premises may be unaffected by such fire or other cause, Landlord may terminate this Lease and the tenancy hereby created by giving Tenant not less than thirty (30) days' prior written notice of Landlord's election to terminate this Lease; provided, however, that such notice shall be given, if at all, within the one hundred twenty (120) days following the date of occurrence of such damage or destruction. Base Rent and Other Charges shall be prorated as of the date of such termination.
Partial Destruction of Building. In the event that fifty (50%) percent or more of the rentable area of the Building shall be damaged or destroyed by fire or other cause, notwithstanding any other provisions contained herein and that the Leased Premises may be unaffected by such fire or other cause, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days after said occurrence, to elect to cancel and terminate this Lease. Upon the giving of such notice to Tenant, the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Tenant shall vacate the Leased Premises and surrender the same to Landlord.
Partial Destruction of Building. If fifty percent (50%) or more of the rentable area of the Building is damaged or destroyed by fire or other cause, notwithstanding that the Sub-Premises may be unaffected, Sub-Landlord shall have the right, to be exercised by notice in writing delivered to Sub-Tenant within ninety (90) days after said occurrence, to elect to terminate this Sublease.
Partial Destruction of Building. If the damage be only partial and such that the Building can be restored to approximately its former condition within ninety (90) days from the date of the casualty loss, Lessor shall restore the same within ninety (90) days from the date of the casualty loss, reserving the right to enter upon the Premises for that purpose. In such event, the rent shall be apportioned and suspended during the term Lessor is in possession, taking into account the portion of the demised Premises rendered untenantable and the duration of the Lessor's possession. Nothing contained herein shall affect or limit Lessor's right to collect the proceeds of any rental value insurance on the Premises. If a dispute arises as to the amount of rent due under this clause, Lessee agrees to pay the full amount claimed by Lessor, but Lessee shall have the right to proceed by law to recover the excess payment, if any.
Partial Destruction of Building. If the Building are damaged or destroyed or rendered unusable by Tenant by any casualty which affects the Building and/or the Common Areas and, in Landlord’s opinion, the Building (exclusive of any Alterations) and/or the Common Areas can be restored to its pre-existing condition (except for modifications required by any Applicable Laws or any Mortgagee or any other modification to the Common Areas deemed desirable by Landlord) or the Building made usable by Tenant within two hundred seventy (270) days after the date of the damage or destruction or rendered unusable by Tenant (“Anticipated Completion Date”), Landlord shall, upon written notice from Tenant to Landlord of such damage, except as provided in Section 11.3, promptly and with due diligence (subject to delays for insurance adjustment or other matters beyond Landlord’s control) repair any damage to the Building (exclusive of any Alterations to the Building made by Tenant, which shall be promptly repaired by Tenant at its sole expense) and, until such repairs are completed or the Building made usable by Tenant, the Rent shall be abated from the date of damage or destruction or the Building rendered unusable by Tenant in the same proportion that the rentable area of the portion of the Building which is damaged or destroyed or is unusable by Tenant in the conduct of its business bears to the total Rentable Area of the Building. The Rent shall not be abated if either (i) the damage or destruction is repaired within five (5) business days after Landlord receives written notice from Tenant of the casualty, or (ii) any Tenant Parties is, in whole or in part, responsible for the damage or destruction. Upon any damage or destruction to any Alterations and to the extent that Landlord is required to or elects to repair same for Tenant’s use as provided in this Lease, Tenant shall assign to Landlord all insurance proceeds payable to Tenant under Tenant’s insurance required under Article X, and Landlord shall repair the damage or destruction to such Alterations; provide if the cost of such repair by Landlord exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance as assigned by Tenant, the cost of such repair shall be paid by Tenant to Landlord prior to Landlord’s commencement of repair of the damage. If Landlord elects not to repair any damage or destruction to any Alterations, Tenant shall repair the damage or destruction of any Alterations at its sole cost and expense, and prior...
Partial Destruction of Building. Notwithstanding anything to the contrary contained herein, in the event that 25% or more of the Building is destroyed or substantially damaged by any cause, whether or not there is any damage to the Premises, the Landlord may, at its option, elect by written notice given to the Tenant within 30 days after such occurrence, to terminate this Lease as of a date specified therein, which date shall be not less than 30 days after the giving of such notice, in which event the Tenant shall vacate and surrender possession of the Premises not later than the effective date of termination, and Rent shall be apportioned to the effective date of termination. If the Landlord does not elect to terminate the Lease, the Landlord shall diligently proceed to repair and rebuild the Building to the extent of its obligations under this Lease, provided that the Landlord's obligations pursuant to this paragraph 8.4(b) shall be limited to the extent that any failure to repair or rebuild the Building would adversely affect the Tenant's access to or use of the Premises.
