Uninsured Damage. In the event of any damage or destruction of the Premises or any building in which the Premises are located by an uninsured casualty, Landlord shall have the right to elect either to repair such damage or to terminate this Lease. Such election shall be exercised by written notice to Tenant within forty-five (45) days of such damage or destruction.
Uninsured Damage. The occurrence of any uninsured damage to or loss, theft or destruction of, any assets of any Obligor or any of their Subsidiaries and such damage, loss, theft or destruction shall exceed $1,000,000 in the aggregate at any time.
Uninsured Damage. Any uninsured damage to or losses, theft or destruction of any of the assets of Borrower or any of its Subsidiaries occurs in excess of $3,000,000 in the aggregate; or
Uninsured Damage. In the event the Leased Premises, the Building or the Project shall be damaged as a result of any casualty not covered by Landlord’s insurance, to any extent whatsoever, Landlord may, subject to Force Majeure, within ninety (90) days following the date of the casualty, commence repair, reconstruction or restoration of the Leased Premises and prosecute the same diligently to completion, in which event this Lease shall continue in full force and effect, or within such ninety (90) day period elect not to so repair, reconstruct or restore the Leased Premises, the Building or the Project, as the case may be, in which event this Lease shall cease and terminate. In either event, Landlord shall give Tenant written notice of Landlord’s intention within such ninety (90) day period.
Uninsured Damage. 9.1 In this clause 5.9:
Uninsured Damage. The following provisions apply in the event of Uninsured Damage:
7.1 Within six (6) months following any Uninsured Damage occurring the Landlord will give written notice to the Tenant (an “Election Notice”) stating whether or not it proposes to rebuild or reinstate the Building, the Premises and the External Areas which has been the subject of the Uninsured Damage.
7.2 If the Election Notice states that the Landlord proposes to rebuild or reinstate the Premises and the External Areas then for the purposes of this Lease the Uninsured Damage shall be deemed to have been damage by Insured Risks, and the provisions of paragraphs 3 and 5.1 will apply and in such circumstances the Landlord will use its own moneys in the place of the insurance proceeds to effect such rebuilding or reinstatement;
7.3 If the Election Notices states that the Landlord does not propose to rebuild or reinstate the Premises and/or the External Areas or if no Election Notice is served strictly within the period of six months referred to in paragraph 7.1 then the Tenant may at any time after service of the Election Notice or the expiry of such six month period (as the case may be), give written notice to the Landlord to determine the Term with immediate effect and the provisions of paragraph 5.3 shall apply.
7.4 The Yearly Rent and Service Charge (or a fair proportion of them according to the nature and extent of the damage) ceases to be payable from the date of occurrence of the Uninsured Damage until the earlier of the termination of the Lease pursuant to Clause 7.3 and the date on which the Premises are again fit for occupation and use and accessible.
1. Upwards only rent review
1.1 the Yearly Rent reserved by this Lease immediately prior to the Review Date; and
1.2 the Open Market Rent agreed or in default of agreement determined in accordance with this schedule,
Uninsured Damage. If, during the term of this Agreement, improvements in or on the Premises are partially or totally destroyed from a risk not covered by the fire and extended coverage insurance described in Section 13.4 herein, thereby rendering said Premises partially or totally inaccessible or unusable, such destruction shall not automatically terminate this Agreement. If, however, the cost of restoration exceeds ten percent (10%) of the lull replacement value of improvements, as said value existed immediately before said destmction, Concessionaire may, at Concessionaire's option, terminate this Agreement by giving written notice to City within sixty (60) days from the date of discovery of such destmction. If Concessionaire elects to terminate as above provided, Concessionaire shall be obligated, unless otherwise directed by City, to demolish all damaged improvements and remove all debris from the Premises at Concessionaire's sole cost. If Concessionaire fails to exercise its right to terminate this Agreement, this Agreement shall continue in lull force and effect for the remainder of the term specified herein and Concessionaire shall restore the Premises to substantially the same condition as they were in immediately before destmction.
Uninsured Damage. Notwithstanding anything to the contrary ---------------- contained in this Article, if damage to the Building or the Premises is due to any cause other than fire or other peril covered by extended coverage insurance, Landlord may elect to terminate this Lease.
Uninsured Damage. If, at any time during the term hereof, all or a portion of the Facility shall be damaged or destroyed by a casualty not insurable under the insurance required to be maintained by Tenant under this Lease, Tenant may terminate this Lease by notice to Landlord given within 30 days after such damage or destruction. If Tenant elects to terminate this Lease as provided herein, Tenant shall pay to Landlord, as a condition upon the effectiveness of such termination, within 60 days after such notice, an amount equal to the net book value of the Facility as accurately reflected in Landlord’s financial records as of the date of such damage or destruction. Upon the giving of such notice by Tenant to terminate, and Tenant’s payment of all amounts provided for herein, this Lease shall automatically terminate and the Annual Fixed Rental and other charges hereunder shall be equitably adjusted as of the date of such destruction.
Uninsured Damage. If damage or destruction is caused by a peril not required to be insured against hereunder and for which insurance proceeds are not available, either the CITY or WKRFA may terminate this Lease by thirty (30) days written notice to the other of its election so to do so and the Lease shall be deemed to have terminated as of such date unless the other party agrees in writing to pay for such repairs or restoration.
