Reconstruction of Damaged Premises. In the event the Premises shall be partially or totally destroyed by fire or other casualty insured under the insurance carried by Landlord so as to become partially or totally untenantable, then the damage to the Premises shall be promptly repaired (unless Landlord shall elect not to rebuild as hereinafter provided), and the minimum rent shall be abated in proportion to the floor area of the Premises rendered untenantable with a proportionate reduction in Minimum Gross Sales. Payment of full rental so abated shall commence and Tenant shall be obligated to reopen for business on the thirtieth (30th) day following the date that Landlord advises Tenant that the Premises are tenantable, unless Tenant opens at an earlier time in the damaged area or remains open in such area following destruction or damage, in which event there shall be no abatement or any such abatement shall terminate as of the date of Tenant’s earlier reopening. Any amount expended by Landlord in repairing the Premises in excess of the proceeds of insurance received by Landlord pursuant to Section 11.02 of this Lease allocated to the Premises shall be repayable by Tenant to Landlord within ten (10) days after receipt by Tenant from Landlord of a statement setting forth the amount of such excess. Landlord shall reconstruct the Premises in accordance with the working drawings originally approved by Landlord or (at Xxxxxxxx’s sole election) with new drawings prepared by Xxxxxx and acceptable to Landlord and Tenant. In no event shall Landlord be required to repair or replace Tenant’s merchandise, trade fixtures, furnishings or equipment, plate glass, signs or personal property. If Landlord repairs or rebuilds, Tenant, at Tenant’s sole cost, shall repair or replace Tenant’s merchandise, trade fixtures, furnishings, equipment, plate glass, signs and personal property in a manner and to at least a condition equal to that prior to the damage or destruction thereof.
Reconstruction of Damaged Premises. In the event the Premises shall be partially or totally destroyed by fire or other casualty insured under the insurance carried by Landlord pursuant to this Lease, as to become partially or totally untenantable, subject to the requirements of any first mortgagee and to the terms of any first mortgage encumbering the Shopping Center and/or the Premises, the damage to the Premises shall be promptly repaired by Landlord, to the extent, however, of the proceeds received from such insurance, unless Landlord shall elect not to rebuild as hereinafter provided, and a just and proportionate part of Rent and Additional Rent shall be abated until so repaired. The obligation of Landlord hereunder shall be limited to reconstructing the Premises in accordance with the initial plans and specifications for the construction of the Premises. In no event shall Landlord be required to repair or replace Tenant's merchandise, trade fixtures, furnishings or equipment. If more than thirty-five (35%) percent of the Premises shall be damaged or destroyed by fire or other casualty, then Landlord may elect either to repair or rebuild the Premises or to terminate this Lease by giving written notice to Tenant of its election to so terminate, such notice to be given within ninety (90) days after the occurrence of such damage or destruction. If Landlord is required or elects to repair or rebuild the Premises as herein provided, Tenant shall repair or replace its merchandise, trade fixtures, furnishings and equipment in a manner and to at least a condition equal to that prior to its damage or destruction.
Reconstruction of Damaged Premises. In the event the Demised Premises shall be partially or totally destroyed by fire or other casualty insurable under full standard extended coverage insurance, as to become partially or totally untenable, the same shall be repaired as speedily as possible at the expense of Landlord, unless Landlord shall elect not to rebuild as hereinafter provided, and a just and proportionate part of the rent shall be abated until so repaired. The obligation of Landlord hereunder shall be limited to the basic building and interior work as covered by Description of Landlord's Work attached hereto. In no event shall Landlord be required to repair or replace Tenant's merchandise, trade fixtures, furnishings or equipment or any alterations or additions to the leased premises accomplished by or on behalf of the Tenant. The obligations of Landlord hereunder shall be conditioned upon Tenant's payment of any deductible required by the insurance policy in force for the leased premises.
Reconstruction of Damaged Premises. In the event the Leased Premises will be partially or totally destroyed by fire or other casualty insured under the insurance carried by Landlord so as to become partially or totally untenantable, then the damage to the Leased Premises will be promptly repaired, unless Landlord will elect not to rebuild as provided herein, and the Base Rent and Additional Rent will be abated in proportion to the amount of the Leased Premises rendered untenantable. Landlord will be obligated to cause such repairs to be made, and any amount expended by Landlord in repairing the improvements to the Leased Premises in excess of the proceeds of insurance received by Landlord will not be repayable by Tenant to Landlord. Landlord will reconstruct the Leased Premises in a manner and at least a condition equal to that prior to its damage or destruction. In no event will Landlord be required to repair or replace Tenant’s trade fixtures, furnishings, operating equipment and personal property. If Landlord is required or elects to repair or rebuild the Leased Premises as herein provided, Tenant will repair or replace its trade fixtures, furnishings, operating equipment and personal property in a manner and at least a condition equal to that prior to its damage or destruction.
Reconstruction of Damaged Premises. 55 Unless this Lease is terminated as provided for below, if fire, the elements, or other casualty 56 damages the leasehold improvements (as defined in Exhibit B), Tenant shall promptly repair the 57 Premises ("Restoration Work") to its condition just prior to the damage. Tenant's obligation for Rental 58 shall not be abated because of destruction or damage to the Premises. Xxxxxx agrees to diligently pursue 59 issuance of all building and other permits required for such Restoration Work. If Tenant has not 60 completed the Restoration Work within one hundred twenty (120) days from the date Tenant receives all 61 its required building and other permits for such work (for which permits Tenant shall make prompt 62 application following such destruction or damage and shall diligently pursue thereafter), or within such 63 additional period of time which may be needed for Tenant to complete such Restoration Work provided 64 Tenant has diligently commenced and is pursuing such Restoration Work to completion, Landlord shall 65 have the right to take over and complete such work at Tenant's cost; provided, however, Landlord shall 66 first utilize the funds available from Tenant’s insurance proceeds for the Restoration Work.
Reconstruction of Damaged Premises. If the Premises is damaged, through no fault of Tenant, or its employees, supplies, customers or invitees, Landlord shall repair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord reasonably determines that the cost of repair would exceed twenty percent (20%) of the full replacement cost of the Building ("Replacement Cost") and the damage is not covered by Landlord's fire and extended coverage insurance or (ii) Landlord reasonably determines that the cost of repair would exceed fifty percent (50%) of the Replacement Cost; or (
Reconstruction of Damaged Premises. In the event the Improvements or the Leased Premises shall be partially or totally destroyed by fire or other casualty, unless this Lease is terminated as hereinafter provided, the Tenant shall within sixty (60) days after the later of such damage or the receipt by Tenant of any insurance proceeds in respect of such casualty, commence and shall thereafter diligently and continuously prosecute to completion the restoration, replacement or rebuilding of the Improvements. Tenant shall repair the Improvements and the Leased Premises in accordance with the initial plans and specifications for the construction of such Improvements. Notwithstanding anything contained herein to the contrary, if more than ten percent (10%) of the floor area of the Improvements shall be damaged or destroyed by fire or other casualty within the last three (3) years of the initial Term (or last two (2) years of any Extended Term), then Tenant may elect to terminate this Lease by giving written notice to Landlord of its election to so terminate within sixty (60) days after the occurrence of such damage or destruction, in which event, this Lease shall terminate, the insurance proceeds for damage or loss to the Improvements (but not Tenant’s property) shall be paid over to Landlord, and the parties shall be relieved from all further obligations hereunder.
Reconstruction of Damaged Premises. In the event that the Building or any other improvements to the Leased Premises shall be partially or totally destroyed by fire or other casualty, then the damage to the Leased Premises shall be promptly repaired and restored by the Tenant, at its sole cost, to the condition which existed prior to such damage to the extent reasonably practicable. Any and all insurance proceeds paid to Landlord and Tenant shall be earmarked for such repair and restoration. Rent and other charges payable by Tenant hereunder shall not be abated because of such damage or destruction.
Reconstruction of Damaged Premises. In the event that any buildings or improvements on the Premises shall be partially or totally destroyed by fire or other casualty so as to make the Premises totally untenantable, rent and other charges due from Tenant under the Lease shall abatx xx the extent that and in proportion as Tenant's operations are curtailed by such fire or other casualty. Within a reasonable time, Landlord shall repair the Premises in a manner and to at least a condition equal to that prior to the damage or destruction. If repairs are not complete within a reasonable time, Tenant shall have the right to terminate this Lease. In the event that Tenant shall elect to terminate this Lease, Tenant shall have no further obligations under this Lease. Any and all insurance proceeds paid to Landlord or Tenant shall be earmarked for repair and restoration of the damages to the Premises. In any event, Tenant shall have no obligation to repair or replace the Premises.
Reconstruction of Damaged Premises. In the fourth (4th) line of subsection 17.01(c) change "ten (10)" to thirty (30)".
