Common use of Reconstruction in the Event of Damage or Destruction Covered by Insurance Clause in Contracts

Reconstruction in the Event of Damage or Destruction Covered by Insurance. (a) If the Leased Property is totally or partially destroyed by a risk covered by the insurance described in Article XIII and in Lessor’s reasonable judgment the Hotel thereby is rendered Unsuitable for its Primary Intended Use, Lessor may, at Lessor’s option to be exercised within ninety (90) days after the date of such occurrence, restore the Hotel to substantially the same condition as existed immediately before the damage or destruction and otherwise in accordance with the terms of the Lease. If Lessor fails to timely make such election, Lessor shall be deemed to have terminated the Lease, in which case Lessor must provide Lessee with Substitute Leases for execution by Lessee, at Lessee’s election, as described in Article XXXIX of this Lease. (b) If the Leased Property is partially destroyed by a risk covered by the insurance described in Article XIII, but the Hotel is not thereby rendered Unsuitable for its Primary Intended Use, Lessor shall promptly restore the Hotel to substantially the same condition as existed immediately before the damage or destruction and otherwise in accordance with the terms of the Lease to the extent of insurance proceeds received by Lessor.

Reconstruction in the Event of Damage or Destruction Covered by Insurance. (a) If the any Leased Property is totally or partially destroyed by a risk covered by the insurance described in Article XIII and in Lessor’s reasonable judgment the Hotel thereby is rendered Unsuitable for its Primary Intended Use, Lessor may, at Lessor’s 's option to be exercised within ninety (90) days after the date of such occurrence, restore the Hotel to substantially the same condition as existed immediately before the damage or destruction and otherwise in accordance with the terms of the Lease. If Lessor fails to timely make such election, Lessor shall be deemed to have terminated the Lease, in which case Lessor must provide Lessee with Substitute Leases for execution by Lessee, at Lessee’s 's election, as described in Article XXXIX XL of this Master Lease. (b) If the any Leased Property is partially destroyed by a risk covered by the insurance described in Article XIII, but the Hotel is not thereby rendered Unsuitable for its Primary Intended Use, Lessor shall promptly restore the Hotel to substantially the same condition as existed immediately before the damage or destruction and otherwise in accordance with the terms of the Master Lease to the extent of insurance proceeds received by Lessor.

Reconstruction in the Event of Damage or Destruction Covered by Insurance. (a) If the Leased Property is totally or partially destroyed by a risk covered by the insurance described in Article XIII and in Lessor’s reasonable judgment the Hotel thereby is rendered Unsuitable for its Primary Intended Use, Lessor may, at Lessor’s option to be exercised within ninety (90) days after the date of such occurrence, restore the Hotel to substantially the same condition as existed immediately before the damage or destruction and otherwise in accordance with the terms of the Lease. If Lessor fails to timely make such election, Lessor shall be deemed to have terminated the Lease, in which case Lessor must provide Lessee with Substitute Leases for execution by Lessee, at Lessee’s election, as described in Article XXXIX XL of this Lease. (b) If the Leased Property is partially destroyed by a risk covered by the insurance described in Article XIII, but the Hotel is not thereby rendered Unsuitable for its Primary Intended Use, Lessor shall promptly restore the Hotel to substantially the same condition as existed immediately before the damage or destruction and otherwise in accordance with the terms of the Lease to the extent of insurance proceeds received by Lessor.

Reconstruction in the Event of Damage or Destruction Covered by Insurance. (a) If the Leased Property is totally or partially destroyed by a risk covered by the insurance described in Article XIII and in Lessor’s 's reasonable judgment the Hotel thereby is rendered Unsuitable for its Primary Intended Use, Lessor may, at Lessor’s 's option to be exercised within ninety (90) days after the date of such occurrence, restore the Hotel to substantially the same condition as existed immediately before the damage or destruction and otherwise in accordance with the terms of the Lease. If Lessor fails to timely make such election, Lessor shall be deemed to have terminated the Lease, in which case Lessor must provide Lessee with Substitute Leases for execution by Lessee, at Lessee’s 's election, as described in Article XXXIX XL of this Lease. (b) If the Leased Property is partially destroyed by a risk covered by the insurance described in Article XIII, but the Hotel is not thereby rendered Unsuitable for its Primary Intended Use, Lessor shall promptly restore the Hotel to substantially the same condition as existed immediately before the damage or destruction and otherwise in accordance with the terms of the Lease to the extent of insurance proceeds received by Lessor.