Common use of Restoration of Damaged Premises Clause in Contracts

Restoration of Damaged Premises. In the event the premises are damaged or destroyed or rendered partially untenantable for their then use by fire or other casualty insured by Lessor, the Lessor shall promptly repair from funds provided by Lessee as subrogee or from insurance proceeds released by the holder of any deed of trust lien upon the building which contain the premises and restore the same to substantially the condition in which they were immediately prior to the happening of such casualty. The Lessor's obligation to repair shall not extend to any improvements or addition of the Lessee. In the event that the premises are so damaged or destroyed by fire or other casualty that repairs to the premises required for Lessee to resume its operations within 90 days of the date of such fire or other casualty cannot be completed, then either Lessee or Lessor shall have the right to terminate this lease effective as of the date of the fire or other casualty.