Tenant’s Obligation to Restore. (a) If all or any part of any of the Project shall be destroyed or damaged in whole or in part by fire or other casualty (including any casualty for which insurance was not obtained or obtainable) of any kind or nature, ordinary or extraordinary, foreseen or unforeseen, Tenant shall give to the FCRHA immediate notice thereof, except that no notice or related approvals from the FCRHA shall be required if the cost of repairs, alterations, restorations, replacements and rebuilding (collectively, “Restoration”), as reasonably estimated by Tenant, will be less than Three Hundred Fifty Thousand Dollars ($350,000), as such amount is adjusted on the fifth (5th) anniversary of the Commencement Date and on each fifth (5th) anniversary of the Commencement Date thereafter occurring during the Term, by the percent increase, if any, in the Consumer Price Index for the month in which the applicable anniversary date occurs over the Consumer Price Index for the month in which the Commencement Date occurs (the “Threshold Amount”). Whether or not the foregoing notice requirement applies, Tenant shall, whether or not such damage or destruction shall have been insured, and whether or not insurance proceeds, if any, shall be sufficient for the purpose of such Restoration, with reasonable diligence (subject to Unavoidable Delays) repair, alter, restore, replace and rebuild (collectively, “Restore”) the same, at least to the extent of the value it would have had absent the casualty and as nearly as possible to the condition, quality and class of the Project existing immediately prior to such occurrence, with such changes or alterations as Tenant, with the consent of the FCRHA, may elect to make, provided that, after the Restoration, the Project shall be in substantial conformity with the original Plans and Specifications; with any changes as mutually agreed to by Tenant and the FCRHA, acting in their reasonable discretion. If Tenant shall fail or neglect to Restore with reasonable diligence (subject to Unavoidable Delays) the Project or the portion thereof so damaged or destroyed, or having so commenced such Restoration, shall fail to complete the same with reasonable diligence (subject to Unavoidable Delays) in accordance with the terms of this Lease, or if prior to the completion of any such Restoration by Tenant, this Lease shall expire or be terminated for any reason, the FCRHA may after written notice to Tenant and expiration of the cure periods applicable to such failure, b...
Tenant’s Obligation to Restore. To the extent that Restoration is possible at the time of a casualty:
Tenant’s Obligation to Restore. Tenant shall, subject to and in accordance with the provisions of this Article 12, restore the Tenant Maintenance Components, but only to the extent of insurance proceeds available to it as provided below. Any such restoration of Tenant Maintenance Components Share shall be, to the extent reasonably practicable given the amount of any insurance proceeds (if any) made available to Tenant therefor, of the same scope, character and quality of the Improvements as they existed immediately prior to the Casualty (a “Tenant’s Casualty Restoration”). Notwithstanding any provision contained herein to the contrary, Tenant shall be required to perform and complete any Tenant’s Casualty Restoration only as and to the extent of any insurance proceeds (if any) which are actually made available to Tenant therefor in the event that Tenant elects in its sole discretion to maintain any flood and casualty insurance on the Premises (and other Landlord funds which shall be made available to Tenant if any Landlord insurance policies are in effect, and to the extent of any Third-Party Damages and Governmental Resources), and in no event shall Tenant be required to advance or otherwise provide any of its own funds or otherwise incur or pay any out-of-pocket costs or expenses in connection with any Tenant’s Casualty Restoration. For the avoidance of doubt, nothing contained in Article 11, this Article 12 or this Lease shall obligate or require Tenant to maintain any flood and/or casualty insurance on the Premises or any part thereof. Notwithstanding the foregoing provisions of Sections 12.02(a) and (b), the parties may mutually agree to implement Value Engineering in connection with their respective Restoration obligations to achieve cost-savings in connection therewith, subject to the other provisions hereof regarding implementing Value Engineering.
Tenant’s Obligation to Restore. In the event of damage to, or destruction of, any Improvements by fire or other casualty, Tenant shall, to the extent of the insurance proceeds actually received by Tenant or a Permitted Mortgagee for such purpose, promptly repair, replace, restore, and reconstruct the same, all in compliance with the provisions of Section 8.2. If insurance proceeds are unavailable due solely to Tenant's failure to pay the premiums applicable to the insurance coverage referred to in Section 7.1, then Tenant shall be obligated to promptly repair, replace, restore, and reconstruct the Improvements, all in compliance with the provisions of Section 8.2, notwithstanding the unavailability of insurance proceeds for such purpose. Notwithstanding the foregoing, in the event of destruction or damage involving more than seventy-five percent (75%) of the interior floor area of the Improvements which occurs at any time within the last twelve months of the Term, then Landlord, at its election exercisable by written notice to Tenant within thirty days following such destruction or damage, shall have the right to cancel this Lease effective as of the date of such fire or other casualty. In the event of a casualty loss where the Improvements will not be restored or replaced, the insurance proceeds shall be applied, (1) first, to pay the cost of razing the Improvements and leveling, cleaning and otherwise putting the Premises in good order, (2) second, to Landlord's Financing Lender, (3) third, to the payment to Tenant for any of its improvements, and (4) fourth, to Landlord, to the extent of any remaining proceeds.
Tenant’s Obligation to Restore. In the event of damage to, or destruction of, any Improvements by fire or other casualty, Tenant shall, to the extent of the insurance proceeds actually received by Tenant or a Permitted Mortgagee for such purpose, promptly repair, replace, restore, and reconstruct the same, all in compliance with the provisions of Section
Tenant’s Obligation to Restore. Subject to Sections 8.3 and 8.4, if, at any time during the Term of this Lease, the Building or any part thereof shall be damaged or destroyed by fire or other casualty (including any casualty for which insurance coverage was not obtained or obtainable) of any kind or nature, ordinary or extraordinary, foreseen or unforeseen, Tenant shall promptly give Landlord notice of the same and, at Tenant's sole cost and expense, and whether or not the Casualty Proceeds, if any, shall be sufficient for the purpose, shall within ninety (90) days of the date of such damage or destruction commence (subject to a reasonable time allowance for Unavoidable Delays and the time required to adjust insurance claims with the insurance companies, provided that Tenant is diligently pursuing the adjustment of such insurance claims) to repair, restore, replace or rebuild the same as nearly as possible to its value, condition and character immediately prior to such damage or destruction, subject to such changes or alterations as Tenant may elect to make in conformity with the provisions of Article 9 (such repair, alteration, restoration, replacement or rebuilding, including temporary repairs for the protection of the Improvements or other property pending the completion thereof, are sometimes referred to in this Article 8 as "Restoration") and shall prosecute such Restoration to completion with diligence and continuity.
Tenant’s Obligation to Restore. If all or any portion of the Initial Improvements are damaged or destroyed by an event not constituting an Uninsured Casualty or Major Damage or Destruction for which Tenant elects to terminate this Lease under Section 12.4, then Tenant shall, subject to Section 12.4 hereof, within a reasonable period of time (allowing for securing necessary Regulatory Approvals), commence and diligently, subject to Force Majeure, Restore the Initial Improvements to the condition they were in immediately before such damage or destruction, to the extent possible in accordance with then applicable Laws (including, but not limited to, any required code upgrades), without regard to the amount or availability of insurance proceeds. All Restoration performed by Tenant shall be in accordance with the procedures set forth in Section 10 relating to Subsequent Construction and shall be at Tenant's sole expense. If insurance proceeds are available for such Restoration and Tenant is obligated under this Section 12.3 to Restore, or elects to Restore in accordance with the provisions of Section 12.4, then, subject to the rights of any Mortgagee under any Mortgage permitted in accordance with Section 36 hereunder, Tenant shall have the sole right to negotiate an insurance settlement for all claims related to the casualty, provided however, that Tenant shall use commercially reasonable efforts to insure that such settlement does not materially interfere with or delay Tenant's obligation and ability to pay Rent to Landlord or otherwise meet its obligations hereunder.
Tenant’s Obligation to Restore. Should the Improvements be wholly or partially damaged or destroyed by fire or other casualty, Tenant shall:
Tenant’s Obligation to Restore. In the event of a taking which does not result in the termination of this Lease, Tenant shall, at Tenant's expense and regardless whether any Award or Awards shall be sufficient for the purpose, proceed with due diligence to repair, alter and restore the remaining part of the Premises substantially to their former condition to the extent feasible and permitted by law to constitute a complete and tenantable Building. Upon the expiration of any temporary taking which did not result in a termination of this Lease, Tenant shall restore the Premises to their former condition as aforesaid.
Tenant’s Obligation to Restore. Upon substantial completion of Landlord’s restoration work pursuant to Section 17.3(a), Tenant, at its sole cost and expense, shall repair, alter and restore Tenant’s Property in the Premises to substantially its former condition or as close thereto as possible (subject to further alterations permitted hereunder).
