Repair or Termination. In the event the Aircraft is partially destroyed or damaged, Lessor shall have the option, in its sole discretion, to either (i) fully repair the Aircraft in order that it shall be placed in at least as good condition as it was prior to such partial destruction or damage; or (ii) terminate this Agreement. Within five (5) days after the date of such partial destruction or damage, Lessor shall give written notice to Lessee specifying whether Lessor has elected fully to repair the Aircraft and, if so, the expected date the Aircraft will be fully repaired and available for Lessee’s use in accordance with this Agreement, or to terminate this Agreement, which termination shall be effective immediately upon such written notice from Lessor to Lessee setting forth Lessor's election to so terminate this Agreement.
Repair or Termination. (a) If the Premises are damaged by fire or other casualty of the type insured by Landlord the damage shall be repaired by Landlord; provided such repairs can reasonably be made within one hundred twenty (120) days after the commencement of repairs without the payment of overtime or other premiums and that the insurance proceeds are sufficient to pay the costs of such repairs. Landlord shall give written notice to Tenant within thirty (30) days after the occurrence of the damage if Landlord concludes the damages can be so repaired. If Landlord determines that the damage cannot reasonably be repaired within such timeframe (with Landlord’s failing to deliver the required notice being construed as such), then either party may terminate this Lease by written notice to the other delivered within sixty (60) days after the occurrence of the damage. Until such repairs are completed, Rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business (but there shall be no abatement of Rent by reason of any portion of the Premises being unusable for a period of three (3) days or less). If the damage is due to the fault or neglect of Tenant or its employees, there shall be no abatement of Rent. If Landlord is required or elects to restore the Premises, Landlord shall not be required to restore alterations made by Tenant, Tenant’s improvements, trade fixtures and personal property, such items being the sole responsibility of Tenant to restore.
Repair or Termination. In the event the Aircraft is partially destroyed or damaged, Lessor shall have the option, in its sole discretion, to either (i) fully repair the Aircraft in order that it shall be placed in at least as good condition as it was prior to such partial destruction or damage; or (ii) terminate this Agreement. Within five (5) days after the date of such partial destruction or damage, Lessor shall give written notice to Lessee specifying whether Lessor has elected to fully repair the Aircraft or to terminate this Agreement (such termination shall be effective immediately upon such written notice from Lessor to Lessee setting forth Lessor's election to so terminate this Agreement). To the extent Lessor elects to repair the Aircraft, Lessee has the option to accept such election or to terminate this Agreement. Such Lessee election shall be communicated to Lessor in writing within five (5) days of receipt of Lessor's election to repair. To the extent both Lessor and Lessee consent to the repair of the Aircraft, rent shall xxxxx during the period of time the Aircraft is being repaired. This section does not limit the remedies available to the parties by this Agreement or applicable law.
Repair or Termination. (a) If (i) the Premises are damaged by fire or other insured casualty without any material damage to the Building beyond the boundaries of the Premises and (ii) sufficient insurance proceeds are available to repair the damage to the Premises resulting from such casualty, Landlord shall repair the Premises as promptly as reasonably practicable and this Lease shall remain in full force and effect.
Repair or Termination. If all or any material part (which exceeds 30%) of the Building or the Project is damaged by fire or other casualty, Landlord shall have the right to terminate this Lease by notifying Tenant in writing within ninety (90) days after the date of the fire or other casualty. If Landlord does not terminate this Lease under this Section 16.A, Landlord shall promptly repair and restore the Building or the Project to the condition existing prior to the casualty, provided, however, that Tenant shall be required to pay the cost for restoring the leasehold improvements in the Premises except with respect to the Landlord Work. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Notwithstanding anything to the contrary set forth in this Section 16, if the fire or other casualty to the Premises is of a nature that Landlord in its commercially reasonable determination estimates that such fire or other casualty to the Premises cannot be repaired within 240 days from the date of such casualty, then Tenant shall have the right to terminate this Lease upon written notice to Landlord within thirty (30) days of Landlord’s estimate.
Repair or Termination. If the Demised Premises are damaged or destroyed by fire or other casualty insurable under standard fire and extended coverage insurance and Landlord does not elect to terminate this lease (as provided below), it shall proceed with reasonable diligence and at its expense to repair or rebuild the Demised Premises. Landlord may either terminate this lease or proceed to repair or rebuild the Demised Premises if: (a) the building in which the Demised Premises are located its destroyed or substantially damaged by a casualty not covered by Landlord's insurance, (b) the building is destroyed or made untenantable to the extent of over fifty percent (50%) of the first floor area by a casualty covered by Landlord's insurance, or (c) the holder of a mortgage, deed of trust, or other lien on the Demised Premises at the time of the casualty elects, under such particular lien, that all or part of Landlord's insurance proceeds by used in satisfaction of all or part of the indebtedness secured by the lien. Landlord shall give written notice to Tenant of the election within sixty (60) days after the casualty occurs. If Landlord elects to rebuild or repair it shall proceed to do so with reasonable diligence and at its expense. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience arising out of the making of any repairs or restoration or on account of any termination of this Lease pursuant to this Section.
Repair or Termination. (a) If the Premises, the Common Areas or the Building are damaged by fire or other casualty of the type insured by Landlord, in a way that materially interferes with Tenant's use of the Premises, the damage shall be repaired by Landlord; provided Landlord reasonably determines that such repairs can be made within one hundred eighty (180) days after the commencement of repairs without the payment of overtime or other premiums and that the insurance proceeds are sufficient to pay the cost of such repairs. Until such repairs are completed or this Lease is terminated as herein provided, Basic Monthly Rent shall be abated in proportion to the part of the Premises which is rendered unusable by Tenant in the conduct of its business as a result of such casualty, but only to the extent that Landlord is reimbursed from the proceeds of rental interruption insurance, and provided that there shall be no abatement of Basic Monthly Rent by reason of any portion of the Premises being unusable for a period of three (3) days or less. If the damage is due to the act or negligence of Tenant or its agents, servants, contractors, employees, invitees or licensees there shall be no abatement of Rent.
Repair or Termination. (a) If the Premises, the Common Areas or the Building are damaged by fire or other casualty of the type insured by Landlord, in a way that materially interferes with Tenant’s use of the Premises, the damage shall be repaired by Landlord; provided Landlord reasonably determines that such repairs can be made within one hundred eighty (180) days after the commencement of repairs without the payment of overtime or other premiums and that the insurance proceeds are sufficient to pay the cost of such repairs. Until such repairs are completed or this Lease is terminated as herein provided, Basic Monthly Rent shall be abated in proportion to the part of the Premises which is rendered unusable by Tenant in the conduct of its business as a result of such casualty, but provided that there shall be no abatement of Basic Monthly Rent by reason of any portion of the Premises being unusable for a period of three (3) days or less. If the damage is due to the act or negligence of Tenant or its agents, servants, contractors, employees, invitees or licensees there shall be no abatement of Rent.
Repair or Termination. In the event the Aircraft is partially destroyed or damaged, Lessor and Lessee shall have the option, in their sole discretion, to either (i) fully repair the Aircraft in order that it shall be placed in at least as good condition as it was prior to such partial destruction or damage; or (ii) terminate this Agreement. The parties will indicate so by written mutual consent. In the event the Aircraft is totally destroyed, this Agreement shall terminate and Lessee shall be relieved from the obligations under Section 6 regarding the return of the Aircraft. In the event that Lessor and Lessee elect to terminate this Agreement pursuant to Section 11.2 or the Agreement has terminated pursuant to Section 11.2 because of the total destruction of the Airplane, then the Lessor and Lessee shall split the insurance proceeds equally.
Repair or Termination. If the Premises or a portion thereof at any time during the Term of this Agreement is damaged by fire or other casualty not caused by acts or omissions of the Partnership, its agents, or employees, and if such fire or other casualty renders the Premises, or any portion thereof untenantable or unusable for the purposes for which they were designed and intended for a period exceeding 180 days, then the Partnership may terminate this Agreement, and the Parties shall thereupon be relieved of any further obligations under this Agreement. If the Partnership does not exercise its option to terminate this Agreement, TSA at its expense shall repair the damage out of insurance proceeds and any other funds it has available for such purpose so as to restore the Premises to substantially their condition immediately prior to such fire or other casualty, in accordance with then existing laws, ordinances, building codes and other governmental regulations or restrictions. TSA shall cause such repairs and restoration to commence promptly and to proceed diligently to completion, subject to reasonable delays beyond its control. The provisions of Article 14.12 hereof shall apply in either the event of termination or non-termination.
