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) 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 Tenant's furniture and other personal property). If, for any reason (including Tenant's failure to obtain 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(c) and/or 20.1(a) hereof), Tenant fails to receive insurance proceeds covering the full replacement cost of such Tenant Improvements paid for by Tenant or Tenant Changes which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Tenant Improvements paid for by Tenant or Tenant Changes, and upon any damage or destruction thereto, Tenant shall make available 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. 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) make available deliver 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 Tenant's 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 ’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(c) 12.1 and/or 20.1(a20 1(a) hereof), . Tenant fails to receive insurance proceeds covering the full replacement cost of such Tenant Improvements paid for by Tenant or and Tenant Changes which are damaged, Tenant shall be deemed to have self-insured Insured the replacement cost of such Tenant Improvements paid for by Tenant or and Tenant Changes, and upon any damage or destruction thereto, Tenant shall make available 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 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) make available unless this Lease is terminated as permitted in this Section 18, deliver to Landlord by depositing into an escrow account for disbursement to Landlord during the course of reconstruction, (i) 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 should Tenant desire that Landlord restore such Tenant Changes as part of Landlord's restoration of the Premises, and (ii) all insurance proceeds respecting Tenant's movable office furniture systems that were installed as part of the initial Tenant Improvements (the "TI Systems") (excluding proceeds for Tenant's furniture and other personal property)) should Tenant desire that Landlord replace such TI Systems as part of Landlord's restoration of the Premises. If, for any reason (including Tenant's failure to obtain insurance for the full replacement cost of any Tenant Improvements paid for by Tenant or Tenant Changes and TI Systems which Tenant is required to insure pursuant to Sections 12.1(c) and/or 20.1(a) hereof), Tenant fails to receive insurance proceeds covering the full replacement cost of such Tenant Improvements paid for by Tenant Changes or Tenant Changes TI Systems which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Tenant Improvements paid for by Tenant Changes or Tenant ChangesTI Systems, as applicable, and upon any damage or destruction thereto, Tenant shall make available 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. If In the event this Lease is terminated in accordance with Section 18.1 above, Tenant shall be entitled to receive all insurance proceeds for any Tenant Changes in the Premises, for Tenant's TI Systems and for Tenant's furniture and other personal property, as well as a pro rata share of the casualty insurance proceeds received by Landlord and directly attributable to the Tenant Improvements (as defined in the Work Letter Agreement) based upon the Depreciated Value of Tenant's TI Expenditures (defined below). For purposes of this Section 18.2, the "Depreciated Value of Tenant's TI Expenditures" shall equal the costs of the initial Tenant Improvements (excluding the TI Systems, as Tenant is responsible for insuring the same under Section 20.1 below) that were paid for by Tenant (excluding costs reimbursed by Landlord pursuant to the Tenant Allowance, as defined in the Work Letter Agreement, or otherwise), depreciated on a straight line basis over the initial sixty-five (65) months of the Term of this Lease. For example, if Tenant expends $500,000.00 on the Tenant Improvements (excluding sums respecting the TI Systems) that is not otherwise reimbursed by Landlord, Landlord actually receives insurance proceeds in the amount of $500,000 that are directly attributable to the Tenant Improvements and the Lease is terminated pursuant hereto, Tenant will be entitled to retain from Tenant's insurance proceeds all sums in excess at the end of the remaining unamortized balance of the Allowance amortized over the Term fifty-third (53) month of the Lease and Term, thereby leaving one year left on 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 Premisesapplicable depreciation period, the Tenant Improvements, and the Tenant Changes. Any remaining sum will be paid to Depreciated Value of Tenant's TI Expenditures would equal approximately $92,307.60.

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) make available deliver 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 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, then 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 Improvements paid for by Tenant or Tenant Changes which Tenant is required to insure pursuant to Sections 12.1(c) 12.1 and/or 20.1(a) hereof), Tenant fails to receive insurance proceeds covering the full replacement cost of such Tenant Improvements paid for by Tenant or and Tenant Changes which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Tenant Improvements paid for by Tenant or and Tenant Changes, and upon any damage or destruction thereto, Tenant shall make available 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. 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.