Premises Total Destruction Clause Samples
The "Premises Total Destruction" clause defines the parties' rights and obligations if the leased property is completely destroyed, typically by fire or other disasters. In practice, this clause often allows either the landlord or tenant to terminate the lease if the premises are rendered unusable, and may outline procedures for notice and the handling of insurance proceeds. Its core function is to provide a clear process for addressing situations where the property can no longer serve its intended purpose, thereby reducing uncertainty and potential disputes between the parties.
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Premises Total Destruction. If at any time during the term of this Agreement there is damage to the PREMISES, whether or not it is an Insured Loss, and which falls into the classifications of Premises Total Destruction, then LESSOR may at LESSOR’S option either (i) repair such damage or destruction (but not LESSEE’S fixtures, equipment or improvements) as soon as reasonably possible at LESSOR’S expense, and this Lease shall continue in full force and effect, or (ii) give written notice to LESSEE within thirty (30) days after the date of occurrence of such damage of LESSOR’S intention to cancel and terminate this Agreement, in which case this Agreement shall be cancelled and terminated as of the date of the occurrence of such damage; provided, however, that in the event of cancellation of this Agreement, LESSOR shall provide LESSEE with alternative housing as soon thereafter as reasonably possible, for the balance of the school year, at another school site or LESSOR-owned property that best meets LESSEE’s needs and the requirements of Education Code section 47614, considering the availability of alternative properties at the time the total destruction arises. LESSOR shall use best efforts to provide alternative housing for LESSEE’s entire student population, if possible. In no event shall LESSOR be required to provide LESSEE with facilities that are not owned by LESSOR or to compensate LESSEE for funds expended by LESSEE seeking private, alternative housing.
Premises Total Destruction. (a) If at any time during the Lease Term there is damage, whether or not it is an Insured Loss, and which falls into the classification of Premises Total Destruction, Lessor may, at Lessor's option either (i) repair such damage or destruction (excluding any property of Lessee that is not included within the term Leasehold Improvements) as soon as reasonably possible (after Lessor's receipt of substantially all of the insurance proceeds therefor, if any; Lessor and Lessee agreeing to cooperate to obtain such insurance proceeds as promptly as possible following the occurrence of an Insured Loss) 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), and this Lease shall continue in full force and effect, or (ii) give written notice to Lessee within sixty (60) days after the date of occurrence of such damage of Lessor's intention to cancel and terminate this Lease, in which case this Lease shall be cancelled and terminated as of the date of occurrence of such damage.
(b) 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 Total Damage, and Lessor does not elect to terminate this Lease pursuant to Section 9.3(a) 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 9.3, 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 9.3 without application of this paragraph.
(c) Notwithstanding anything to the contrary in Section 9.2 or this Section 9.3, if Lessor elects, following a casualty which falls within the classification of Premises Partial Damage or Premises Total Damage, to terminate this Lease, Lessee shall have the right, by written notice to Lessee within ten (10) days after t...
Premises Total Destruction. 30 9.4. Damage Near End of Term ................................................................................ 31 9.5. Abatement of Rent; Lessee's Remedies ................................................................... 32
Premises Total Destruction. PREMISES BUILDING TOTAL DESTRUCTION; CENTER BUILDINGS TOTAL DESTRUCTION.
(a) Subject to the provisions of paragraphs 9.4 and 9.5, if at any time during the term of this Lease there is damage, whether or not it is an Insured Loss, and which falls into the classifications of either (i) Premises Total Destruction, or (ii) Premises Building Total Destruction, or (iii) Center Buildings Total Destruction, then Lessor may at Lessor's option either (i) repair such damage or destruction, but not Lessee's fixtures, equipment or tenant improvements, as soon as reasonably possible at Lessor's expense, and this Lease shall continue in full force and effect, or (ii) give written notice to Lessee within thirty (30) days after the date of occurrence of such damage of Lessor's intention to cancel and terminate this Lease, in which case this Lease shall be canceled and terminated as of the date of the occurrence of such damage.
Premises Total Destruction. The following language replaces the language contained in Paragraph 9.1(b) of the Lease:
Premises Total Destruction. If the Premises Total Destruction that is an Insured or Uninsured Loss occurs, unless solely caused by a negligent or willful act of Tenant (in which event Tenant shall be responsible for any cost of the repairs not covered by insurance proceeds and this Lease shall continue in full force and effect), either Landlord or Tenant may, upon written notice within thirty (30) days following receipt by Tenant of Landlord’s reasonable determination of Total Destruction, terminate this Lease. If the Lease is not terminated by either party, then Landlord shall, at Landlord’s expense, repair such damage (but not Tenant’s Trade Fixtures or Tenant-Owned Alterations and Utility Installations) as soon as reasonably possible, but only to the extent of the available insurance proceeds, if any, and the deductibles and this Lease shall continue in full force and effect.
Premises Total Destruction. Premises Building Total Destruction; Industrial Center Buildings Total Destruction 27
Premises Total Destruction. (1) Subject to the provisions of paragraphs 9.4 and 9.5, if at any time during the term of this Lease there is damage, whether or not it is an Insured Loss, and which falls into the classification of Premises Total Destruction, then Lessor may at Lessor's option either (i) repair such damage or destruction, but not Lessee's fixtures, equipment, tenant improvements or Utility Installations as soon as reasonably possible at Lessor's expense, and this Lease shall continue in full force and effect, or (ii) give written notice to Lessee within thirty (30) days after the date of occurrence of such damage of Lessor's intention to cancel and terminate this Lease, in which case this Lease shall be canceled and terminated as of the date of the occurrence of such damage.
Premises Total Destruction. Notwithstanding any other provision hereof, if Premises Total Destruction occurs (including any destruction required by any authorized public authority), this Lease shall terminate effective the date of the occurrence of destruction of the Premises Total Destruction, whether or not the damage or destruction is an Insured Loss or was caused by a negligent or willful act of Lessee or Lessor.
Premises Total Destruction. 15 9.4 Abatement of Rent, Lessee's Remedies...........................................................15