Common use of Premises Partial Damage Clause in Contracts

Premises Partial Damage. If Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect, provided, however, that Lessee shall, at Lessor's election, make the repair of any damage or destruction the total cost to repair of which is $5,000 or less, and, in such event, Lessor shall make any applicable insurance proceeds available to Lessee on a reasonable basis for that purpose. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds as and when required to complete said repairs. In the event, however, such shortage was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover some, or adequate assurance thereof, within 10 days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said 10 day period, the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If such funds or assurance are not received, Lessor may nevertheless elect by written notice to Lessee within 10 days thereafter to: (i) make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect, or (ii) have this Lease terminate 30 days thereafter. Lessee shall not be entitled to reimbursement of any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

Premises Partial Damage. If Premises Partial Damage that is occurs, whether or not an Insured Loss occursLoss, then Lessor shall, at Lessor's ’s expense, repair such damage (but not Lessee's ’s Trade Fixtures or Lessee Lessee-Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect, provided, however, that Lessee shall, at Lessor's election, make the repair of any damage or destruction the total cost to repair of which is $5,000 or less, and, in such event, Lessor shall make any applicable insurance proceeds available to Lessee on a reasonable basis for that purpose. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds as and when required to complete said repairs. In the event, however, that there is a shortage of insurance proceeds and such shortage was is due to the fact that, by reason of the unique nature of the improvementsimprovements in the Premises, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover somesame, or adequate assurance thereof, within 10 ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said 10 ten (10) day period, the party responsible for making the repairs Lessor shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If Lessor does not receive such funds or assurance are not receivedwithin said period, Lessor may nevertheless elect by written notice to Lessee within 10 ten (10) days thereafter to: (i) to make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect. If Lessor does not receive such funds or assurance within such ten (10) day period, or (ii) have and if Lessor does not so elect to restore and repair, then this Lease shall terminate 30 sixty (60) days thereafterfollowing the occurrence of the damage or destruction. Unless otherwise agreed, Lessee shall not be entitled in no event have any right to reimbursement of from Lessor for any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.39.3 rather than Paragraph 9.2, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

Premises Partial Damage. If Premises Partial Damage that (a) Subject to the provisions of Sections 9.4 and 9.5, if at any time during the term of this Lease there is damage, which is an Insured Loss occursand which falls within the classification of Premises Partial Damage, then Lessor shall, at Lessor's expense, repair such damage (but to the Premises, excluding any property of Lessee that is not Lessee's Trade Fixtures or Lessee Owned Alterations and Utility Installations) included within the term Leasehold Improvements, as soon as reasonably possible after Lessor's receipt of substantially all of the insurance proceeds therefor, and this Lease shall continue in full force and effect, provided, however, that . Lessor and Lessee shall, at Lessor's election, make the repair of any damage or destruction the total cost shall cooperate to repair of which is $5,000 or less, and, in such event, Lessor shall make any applicable obtain insurance proceeds available to Lessee on a reasonable basis for that purposeas promptly as possible following the occurrence of an Insured Loss. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds as and when required to complete said repairs. In the event, however, such shortage was due to the fact thatIf, by reason of the unique nature of any of the improvementsLeasehold Improvements, full replacement cost insurance coverage was not commercially reasonable and availableavailable for any Leasehold Improvements, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the any unique aspects of the Premises Leasehold Improvements unless Lessee provides Lessor with the funds to cover somesame, or adequate assurance thereof, within 10 ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said 10 day ten (10) days period, the party responsible for making the repairs Lessor shall complete them the restoration of such Leasehold Improvements as soon as reasonably possible and this Lease shall remain in full force and effect. If Lessor does not receive such funds or assurance are not receivedwithin said period, Lessor may nevertheless elect by written notice proceed to Lessee within 10 days thereafter to: (i) make such restoration and repair as is commercially reasonable with Lessor paying any shortage in reasonable, taking into account available insurance proceeds, in which case this Lease shall remain in full force and effect, or (ii) have this Lease terminate 30 days thereafter. Lessee shall not be entitled to reimbursement of any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3Section 9.3 rather than this Section 9.2, notwithstanding that there may be some insurance coverage, coverage but the net proceeds of any such insurance shall be made available for the repairs if made by Lessor. (b) Subject to the provisions of Sections 9.4 and 9.5, if at any time during the term of this Lease there is damage which is not an Insured Loss and which falls within the classification of Premises Partial Damage, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee's expense, subject to Section 7.4 above and other reasonable conditions imposed by Lessor, or, at Lessor's option, Lessor shall repair the same at Lessee's expense), Lessor may, at Lessor's option either Party(i) repair such damage (excluding any property of Lessee that is not included within the term Leasehold Improvements) as soon as reasonably possible at Lessor's expense (subject to the provisions of Section 9.2 hereof regarding the repair of unique Leasehold Improvements for which full replacement coverage is not available), in which event this Lease shall continue in full force and effect, or (ii) give written notice to Lessee within sixty (60) days after the date of the occurrence of such damage of Lessor's intention to cancel and terminate this Lease as of the date of the occurrence of such damage. (c) If at any time during the term of this Lease there is a casualty, whether or not an Insured Loss, that falls within the classification of Premises Partial Damage, and Lessor does not elect to terminate this Lease pursuant to Section 9.2(b) above, Lessor shall, within sixty (60) days of such casualty, provide Lessee with a written estimate of the time required to rebuild and restore the Premises. Notwithstanding anything to the contrary in this Section 9.2, if the time which would be required to rebuild and restore the Premises is more than the first to occur of (i) six (6) months following the issuance of all necessary building permits, or (ii) one year from the date of such casualty, Lessee shall have the right, within thirty (30) days of Lessor's notice, to terminate this Lease effective as of the date of such notice; provided, if Lessee does not timely elect to terminate this Lease in accordance with this sentence, the rights and obligations of Lessor and Lessee shall be determined in accordance with this Section 9.2 without application of this paragraph.

Premises Partial Damage. If Premises Partial Damage that is an Insured Loss occurs, then Lessor Landlord shall, at LessorLandlord's expense, repair such damage (but not LesseeTenant's Trade Fixtures or Lessee Tenant-Owned Alterations and Utility Installations) as soon as reasonably possible possible, but only to the extent of the available insurance proceeds. In the event that the available insurance proceeds are insufficient to enable Landlord to fully restore the Premises to the condition they were in prior to any Premises Partial Damage and, as a result, Landlord elects not to fully restore the Premises to such condition, Landlord shall promptly notify Tenant to that effect in writing in which case Tenant shall elect one of the following options: (a) agree to supply Landlord with funds equal to the difference between the available insurance proceeds and the cost to fully restore the Premises, in which case Landlord shall promptly fully restore the Premises to the condition they were in prior to the Premises Partial Damage, (b) terminate the Lease by written notice of termination to Landlord, in which case Tenant shall be entitled to continue to occupy the Premises, subject to all of the terms of the Lease, for a reasonable period of time (not to exceed 12 months, while Tenant secures another comparable facility to relocate to, or (c) continue to occupy the Premises for the remainder of the Lease Term, in which case Landlord shall promptly restore the Premises to the extent permitted by the available insurance proceeds and this Lease shall continue in full force and effect, provided, however, that Lessee shalleffect (and Tenant, at Lessorits option and expense, may make additional repairs to the Premises to more fully restore them to the condition they were in prior to the Premises Partial Damage). Tenant shall advise Landlord in writing as to which option Tenant elects within sixty (60) days after Tenant's electionreceipt of Landlord's initial notice. Unless otherwise agreed, make the repair of Tenant shall in no event have any damage right to reimbursement from Landlord for any funds contributed or destruction the total cost costs incurred by Tenant to repair any Premises Partial Damage. For purposes of which is $5,000 or less, and, in such event, Lessor shall make any applicable insurance proceeds available to Lessee on a reasonable basis for that purpose. Notwithstanding the foregoing, if "available insurance proceeds" shall include any amounts which would have been available in the required insurance was not in force or absence of Landlord's failure to maintain the insurance proceeds are not sufficient to effect such repairrequired under, the Insuring Party shall promptly contribute the shortage in proceeds as and when required to complete said repairs. In the event, however, such shortage was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor otherwise comply with the funds to cover some, or adequate assurance thereof, within 10 days following receipt provisions of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said 10 day period, the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If such funds or assurance are not received, Lessor may nevertheless elect by written notice to Lessee within 10 days thereafter to: Paragraph 8.3 (i) make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect, or (ii) have this Lease terminate 30 days thereafter. Lessee shall not be entitled to reimbursement of any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Partya).