Common use of Restoration in the Event of Damage or Destruction Clause in Contracts

Restoration in the Event of Damage or Destruction. 14.2.1 If any Leased Improvements are totally or partially damaged or destroyed and the Facility thereon is thereby rendered Unsuitable for its Primary Intended Use, Tenant shall give Landlord Notice of such damage or destruction within fifteen (15) Business Days of the occurrence thereof. Within ninety (90) days of such occurrence, Tenant shall commence and thereafter diligently proceed to complete the restoration of the damaged or destroyed Leased Improvements to substantially the same (or better) condition as that which existed immediately prior to such damage or destruction. 14.2.2 If any Leased Improvements are totally or partially damaged or destroyed, but the Facility thereon is not thereby rendered Unsuitable for its Primary Intended Use, Tenant shall give Landlord Notice of such damage or destruction within fifteen (15) Business Days of the occurrence thereof, and, within ninety (90) days of the occurrence, Tenant shall commence and thereafter diligently proceed to restore the Leased Improvements within the Reconstruction Period to substantially the same (or better) condition as that which existed immediately prior to such damage or destruction. 14.2.3 No such damage or destruction shall terminate this Lease as to the affected Facility; provided, however, that if Tenant, after diligent effort, cannot within a reasonable time obtain all necessary government approvals, including building permits, licenses, conditional use permits and any certificates of need, in order to be able to perform all required repair and restoration work and thereafter to operate the Leased Improvements for the Primary Intended Use thereof in substantially the same manner as that existing immediately prior to such damage or destruction, Tenant shall purchase the Facility of Leased Property on which the damaged or destroyed Leased Improvements are located for the Facility Purchase Price, which shall be determined as of the day of the damage or destruction.

Appears in 2 contracts

Samples: Master Lease (Monarch Properties Inc), Master Lease (Integrated Health Services Inc)

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Restoration in the Event of Damage or Destruction. 14.2.1 If any Leased Improvements are totally or partially damaged or destroyed and the Facility thereon is thereby rendered Unsuitable for its Primary Intended Use, Tenant shall give Landlord Notice of such damage or destruction within fifteen (15) Business Days of the occurrence thereof. Within ninety (90) days of such occurrence, Tenant shall commence and thereafter diligently proceed to complete the restoration of the damaged or destroyed Leased Improvements to substantially the same (or better) condition as that which existed immediately prior to such damage or destruction. 14.2.2 If any Leased Improvements are totally or partially damaged or destroyed, but the Facility thereon is not thereby rendered Unsuitable for its Primary Intended Use, Tenant shall give Landlord Notice of such damage or destruction within fifteen (15) Business Days of the occurrence thereof, and, within ninety (90) days of the occurrence, Tenant shall commence and thereafter diligently proceed to restore the Leased Improvements within the Reconstruction Period to substantially the same (or better) condition as that which existed immediately prior to such damage or destruction. 14.2.3 No such damage or destruction shall terminate this Lease as to the affected Facility; provided, however, that if Tenant, after diligent effort, cannot within a reasonable time obtain all necessary government approvals, including building permits, licenses, conditional use permits and any certificates of need, in order to be able to perform all required repair and restoration work and thereafter to operate the Leased Improvements for the Primary Intended Use thereof in substantially the same manner as that existing immediately prior to such damage or destruction, Tenant shall purchase the Facility of or Leased Property on which the damaged or destroyed Leased Improvements are located for the Facility Purchase Price, which shall be determined as of the day of the damage or destruction.

Appears in 2 contracts

Samples: Lease (Monarch Properties Inc), Lease Agreement (Monarch Properties Inc)

Restoration in the Event of Damage or Destruction. 14.2.1 If any Leased Improvements are totally or partially damaged or destroyed and the Facility thereon is thereby rendered Unsuitable for its Primary Intended Use, Tenant Lessee shall give Landlord Lessor Notice of such damage or destruction within fifteen (15) Business Days of the occurrence thereof. Within ninety (90) days of such occurrence, Tenant Lessee shall commence and thereafter diligently proceed to complete the restoration of the damaged or destroyed Leased Improvements to substantially the same (or better) condition as that which existed immediately prior to such damage or destruction. 14.2.2 If any Leased Improvements are totally or partially damaged or destroyed, but the Facility thereon is not thereby rendered Unsuitable for its Primary Intended Use, Tenant Lessee shall give Landlord Lessor Notice of such damage or destruction within fifteen (15) Business Days of the occurrence thereof, and, within ninety (90) days of the occurrence, Tenant Lessee shall commence and thereafter diligently proceed to restore the Leased Improvements within the Reconstruction Period to substantially the same (or better) condition as that which existed immediately prior to such damage or destruction. 14.2.3 No such damage or destruction shall terminate this Lease as to the affected FacilityParcel; provided, however, that if TenantLessee, after diligent effort, cannot within a reasonable time obtain all necessary government approvals, including building permits, licenses, conditional use permits and any certificates of need, in order to be able to perform all required repair and restoration work and thereafter to operate the Leased Improvements for the Primary Intended Use thereof in substantially the same manner as that existing immediately prior to such damage or destruction, Tenant Lessee shall purchase the Facility Parcel of Leased Property on which the damaged or destroyed Leased Improvements are located for the Facility Parcel Purchase Price, which shall be determined as of the day of the damage or destruction.

Appears in 1 contract

Samples: Master Lease (Integrated Health Services Inc)

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Restoration in the Event of Damage or Destruction. 14.2.1 If any Leased Improvements are totally or partially damaged or destroyed and the Facility thereon is thereby rendered Unsuitable for its Primary Intended Use, Tenant shall give Landlord Notice of such damage or destruction within fifteen (15) Business Days of the occurrence thereof. Within ninety (90) days of such occurrence, Tenant shall commence and thereafter diligently proceed to complete the restoration of the damaged or destroyed Leased Improvements to substantially the same (or better) condition as that which existed immediately prior to such damage or destruction. 14.2.2 If any Leased Improvements are totally or partially damaged or destroyed, but the Facility thereon is not thereby rendered Unsuitable for its Primary Intended Use, Tenant shall give Landlord Notice of such damage or destruction within fifteen (15) Business Days of the occurrence thereof, and, within ninety (90) days of the occurrence, Tenant shall commence and thereafter diligently proceed to restore the Leased Improvements within the Reconstruction Period to substantially the same (or better) condition as that which existed immediately prior to such damage or destruction. 14.2.3 No such damage or destruction shall terminate this Lease as to the affected Facility; provided, however, that if Tenant, after diligent effort, cannot within a reasonable time obtain all necessary government approvals, including building permits, licenses, conditional use permits and any certificates of need, in order to be able to perform all required repair and restoration work and thereafter to operate the Leased Improvements for the Primary Intended Use thereof in substantially the same manner as that existing immediately prior to such damage or destruction, Tenant shall purchase the Facility of or Leased Property on which the damaged or destroyed Leased Improvements are located for the Facility Purchase Price, which shall be determined as of the day of the damage or destruction.

Appears in 1 contract

Samples: Master Lease (Monarch Properties Inc)

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