Common use of Tenant’s Costs and Insurance Proceeds Clause in Contracts

Tenant’s Costs and Insurance Proceeds. In the event of any damage or destruction of all or any part of the Premises, Tenant shall immediately: (a) notify Landlord thereof; and (b) deliver to Landlord all insurance proceeds received by Tenant with respect to the Tenant Improvements and Tenant Changes in the Premises (excluding proceeds for Tenants furniture and other personal property), whether or not this Lease is terminated as permitted in this Section 18, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. In the event Tenant has elected to reconstruct and restore the Tenant Improvements pursuant to Section 18 1 above, than Landlord shall disburse such insurance proceeds to Tenant on a progress payment basis during Tenant’s reconstruction and restoration of the Tenant Improvements. If, for any reason (including Tenant’s failure to obtain Insurance for the full replacement cost of any Tenant Changes which Tenant is required to insure pursuant to Sections 12.1 and/or 20 1(a) hereof). Tenant fails to receive insurance proceeds covering the full replacement cost of such Tenant Improvements and Tenant Changes which are damaged, Tenant shall be deemed to have self-Insured the replacement cost of such Tenant Improvements and Tenant Changes, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such Items, less any insurance proceeds actually received by Landlord from Landlord’s or Tenant’s insurance with respect to such items.

Tenant’s Costs and Insurance Proceeds. In the event of any damage or destruction of all or any part of the Premises, Tenant shall immediately: (a) immediately notify Landlord thereof; . In the absence of termination of this Lease as expressly provided by Sections 18.1, 18.4 or 18.5, Tenant shall at its expense commence and proceed diligently with the work of repair, reconstruction and restoration of the Tenant Improvements and Tenant Changes existing immediately prior to the damage, or such portion thereof, as Tenant, in Tenant’s sole discretion, deems necessary to continue the operation of its business in the Premises. In the event of termination of this Lease pursuant to Sections 18.1, 18.4 or 18.5 (b) deliver and the termination pursuant to Landlord Sections 18.4 or 18.5 involved damage to the Tenant Improvements or Tenant Changes), all insurance proceeds received by Tenant with respect to the Tenant Improvements and Tenant Changes in from any insurance policies maintained by Tenant shall be and remain the Premises property of Tenant and shall be paid to Tenant, except that Tenant shall pay (excluding proceeds for Tenants furniture and other personal property), whether or not this Lease is terminated as permitted in this Section 18cause the insurance company to pay) the sum of $475,000 from the first disbursement(s) of such insurance proceeds, and Tenant hereby assigns to Landlord all rights to receive such amount of Tenant’s insurance proceeds. In the event Tenant has elected to reconstruct and restore proceeds in respect of the Tenant Improvements pursuant Improvement Allowance paid by Landlord. If Tenant fails to Section 18 1 above, than Landlord shall disburse such maintain the insurance Tenant is required to maintain under this Lease or Tenant fails to receive sufficient insurance proceeds to Tenant on a progress payment basis during Tenant’s cover the cost of repair, reconstruction and or restoration of the Tenant Improvements. If, for any reason (including Tenant’s failure to obtain Insurance for the full replacement cost of any Tenant Changes which Tenant is required to insure pursuant to Sections 12.1 and/or 20 1(a) hereof). Tenant fails to receive insurance proceeds covering the full replacement cost of such Tenant Improvements and Tenant Changes which are damaged, Tenant shall be deemed to have self-Insured insured such sum of $475,000, which sum shall (up to the replacement lesser of the cost of such repairing, reconstructing or restoring the damage to the Tenant Improvements and improvements or $475,000) be payable by Tenant Changes, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord on the full replacement cost date of such Itemstermination under Sections 18.1, less any insurance proceeds actually received by Landlord from Landlord’s 18.4 or Tenant’s insurance with respect to such items18.5.

Tenant’s Costs and Insurance Proceeds. In the event of any damage or destruction of all or any part of the Premises, Tenant shall immediately: (a) notify Landlord thereof; and (b) deliver make available to Landlord by depositing into an escrow account for disbursement to Landlord during the course of reconstruction, all insurance proceeds received by Tenant with respect to the Tenant Improvements (including any Tenant Improvements installed at Tenant's expense as described in the Work Letter) and Tenant Changes in the Premises (excluding proceeds for Tenants Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Section 18, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. In the event Tenant has elected to reconstruct and restore the Tenant Improvements pursuant to Section 18 1 above, than Landlord shall disburse such insurance proceeds to Tenant on a progress payment basis during Tenant’s reconstruction and restoration of the Tenant Improvements. If, for any reason (including Tenant’s 's failure to obtain Insurance insurance for the full replacement cost of any Tenant Improvements paid for by Tenant or Tenant Changes which Tenant is required to insure pursuant to Sections 12.1 12.1(c) and/or 20 1(a20.1(a) hereof). , Tenant fails to receive insurance proceeds covering the full replacement cost of such Tenant Improvements and paid for by Tenant or Tenant Changes which are damaged, Tenant shall be deemed to have self-Insured insured the replacement cost of such Tenant Improvements and paid for by Tenant or Tenant Changes, and upon any damage or destruction thereto, Tenant shall immediately pay make available to Landlord the full replacement cost of such Itemsitems, less any insurance proceeds actually received by Landlord from Landlord’s 's or Tenant’s 's insurance with respect to such items. If the Lease is terminated pursuant hereto, Tenant will be entitled to retain from Tenant's insurance proceeds all sums in excess of the remaining unamortized balance of the Allowance amortized over the Term of the Lease and the replacement cost of the Tenant Improvements paid for by Tenant and any Tenant Changes amortized over the Lease Term. All such insurance proceeds paid to Landlord shall be utilized to restore the Premises, the Tenant Improvements, and the Tenant Changes. Any remaining sum will be paid to Tenant.

Tenant’s Costs and Insurance Proceeds. In the event of any damage or destruction of all or any part of the Premises, Tenant shall immediately: (a) notify Landlord thereof; and (b) deliver to Landlord all insurance proceeds received by Tenant with respect to the Tenant Improvements and Tenant Changes in the Premises (excluding proceeds for Tenants Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Section 18, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. In the event Tenant has elected to reconstruct and restore the Tenant Improvements pursuant to Section 18 1 above, than Landlord shall disburse such insurance proceeds to Tenant on a progress payment basis during Tenant’s reconstruction and restoration of the Tenant Improvements. If, for any reason (including Tenant’s 's failure to obtain Insurance insurance for the full replacement cost of any Tenant Changes which Tenant is required to insure pursuant to Sections 12.1 12.1(c) and/or 20 1(a20.1(a) hereof). , Tenant fails to receive insurance proceeds covering the full replacement cost of such Tenant Improvements and Tenant Changes which are damaged, Tenant shall be deemed to have self-Insured insured the replacement cost of such Tenant Improvements and Tenant Changes, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such Itemsitems, less any insurance proceeds actually received by Landlord from Landlord’s 's or Tenant’s 's insurance with respect to such items. If Landlord elects not to restore the Premises and to terminate this Lease, Tenant shall be entitled to recover from the proceeds of Tenant's insurance for the Premises or Landlord's insurance, as the case may be, the unamortized cost of: (i) any Tenant Changes and (ii) any Tenant Improvements to the extent paid for by Tenant (i.e., in excess of the Allowance provided by Landlord).