DESTRUCTION OF PREMISES definition

DESTRUCTION OF PREMISES. If the building in which the herein demised premises is situated shall be damaged or destroyed by fire, earthquake, act of God, or the elements, Tenant shall give immediate notice thereof to Landlord and Landlord shall forthwith repair the same, provided that there are sufficient proceeds from said insurance to cover the cost of restoration (assuming Landlord is carrying the insurance required to be carried by landlord by this lease), and provided such repairs can be made under the laws and regulations of State, County or Municipal authorities, but such destruction or damage shall in no event annul or void this lease. Tenant shall be entitled to a proportionate deduction of rent while such repairs are being made, such proportionate deduction to be based upon the extent to which the making of such repairs shall interfere with the business carried on by the Tenant in the said premises. If such repairs can not be made in said manner in sixty (60) days, the Landlord may, at its option, make same within a reasonable time, this lease continuing in full force and effect, but the Tenant shall be entitled to a proportionate deduction of rent while such repairs are being made as herein above provided. In the event that the Landlord does not so elect to make such repairs, this lease may be terminated at the option of either party. In the event that the Landlord within sixty (60) days of the date of the destruction does not notify Tenant in writing of Landlord's intent to elect to make such repairs, this lease may be terminated at the option of either party. In respect to any damage or destruction which Landlord is obligated to repair or may elect to repair under the terms of this paragraph, the provision of Section 1932, Subdivision 2, and of Section 1933,
Sample 1
DESTRUCTION OF PREMISES. If a fire or any other casualty ("Casualty") which damages the Premises or the Building occurs and materially affects the use of the Premises, Landlord shall determine whether the Premises are rendered substantially untenantable and make an initial estimate of the time needed to complete necessary repairs to the Building and Premises. Within thirty (30) business days after the Casualty, Landlord shall notify Tenant in writing of Landlord's determinations ("Landlord's Notice") as follows: (a) If Landlord's Notice states that the Premises has been rendered substantially untenantable by the Casualty and Landlord's initial estimate of the time needed for repair exceeds one hundred and twenty (120) days, Landlord or Tenant may, by written notice, terminate this Lease as of the date of the Casualty. Written notice of Landlord's or Tenant's election to terminate the Lease pursuant to 14(a) and 14 (c) will be given by the thirtieth (30th) business day after the date of the Casualty. If Landlord's Notice states that the Premises have been rendered substantially untenantable by the Casualty but Landlord's initial estimate of the time needed for repair is one hundred and twenty (120) days or less, Landlord may at its option proceed with the restoration of the Premises and Building as set forth in 14(d) below, and this Lease shall remain in full force and effect. If the work is not completed within one hundred and twenty (120) days, Tenant, within three (3) days thereafter, may terminate this Lease as of the date of the Casualty by providing written notice to Landlord. (b) If Landlord's Notice pursuant to its Architect's report states that the Premises are still substantially tenantable after the Casualty, then neither Landlord nor Tenant shall have the right to terminate this Lease. (c) Either party may terminate this Lease if the Casualty occurs within the last 6 months of the Term or Landlord's estimate of the time needed to repair the damage caused by the Casualty exceeds more than 20% of the then remaining Term. (d) Unless the Lease is terminated, Landlord will repair the Premises and Building (other than leasehold improvements installed by Tenant and Tenant's personal property) to substantially the same condition as existed immediately prior to the Casualty. Tenant shall relocate, at Tenant's expense, all personal property from the Premises prior to and during the repairs. (e) If the Premises are damaged by Casualty and the Lease is not terminated, the Rent shal...
Sample 1
DESTRUCTION OF PREMISES. If at any time during the Lease Term there is damage to the Premises, Lessee shall, at Lessee's expense, repair such damage to the Premises including all tenant improvements as soon as reasonably possible and this Lease shall continue in full force and effect. The Rent payable hereunder for the period from the date of such damage and during the period in which such damage, repair or restoration continues shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired, to the extent that proceeds of such Loss of Rents Insurance Coverage is actually received by Lessor. Except for abatement of Rent, if any, Lessee shall have no claim against Lessor for any damage suffered by reason of any such damage, destruction, repair or restoration. Notwithstanding the above, during the last twelve (12) months of the Lease Term unless Lessee exercises or has exercised its option to renew the Lease, if more than 33% of the Premises are damaged, Lessor or Lessee may cancel the Lease with written notice to the other party within ten (10) days of the date of damage. If either Lessor or Lessee cancels the Lease, Lessee shall pay to Lessor the full replacement cost of the repair or restoration of the damaged Premises, and provided that Lessee makes such payment to Lessor, then Lessee shall receive all insurance proceeds attributable to such damage to the Premises.
Sample 1

Examples of DESTRUCTION OF PREMISES in a sentence

  • DAMAGE OR DESTRUCTION OF PREMISES In the event the premises are destroyed or becomes damaged to the extent that they are not fit for the use, time reserved will be terminated.

  • DESTRUCTION OF PREMISES of the Lease, in the event Landlord cannot complete the repairs and return possession to Tenant within a period of six (6) months, Tenant shall have the option of terminating this Lease.

  • DAMAGE OR DESTRUCTION OF PREMISES: If the Premises are wholly destroyed by fire or other casualty, this lease shall terminate.

  • NOTE: IT IS STRONGLY RECOMMENDED THAT, UPON DISCOVERY OF DAMAGE OF DESTRUCTION OF PREMISES, THE PARTIES RETAIN LEGAL COUNSEL.

  • DAMAGE TO OR DESTRUCTION OF PREMISES If the Property is destroyed or so damaged that they can no longer be beneficially occupied, this Agreement shall terminate when that happens unless the parties agree in writing otherwise.

  • DESTRUCTION OF PREMISES: In the event the premises becomes impossible to live in as a result of fire, floods, civil disorder or other causes beyond the control either the Owner or the Tenants, the obligation to pay rent shall cease immediately and the Tenants agree to vacate the premises at once.

  • DESTRUCTION OF PREMISES: IN THE EVENT OF PARTIAL DESTRUCTION OF THE PREMISES, FROM ANY CAUSE, AND REPAIRS CAN BE MADE WITHIN 60 DAYS UNDER EXISTING LAWS AND REGULATIONS, LESSOR SHALL FORTHWITH REPAIR THE SAME.

  • DESTRUCTION OF PREMISES DOES NOT TERMINATE LEASE...............................................

  • SECTION 11.01 - DESTRUCTION OF PREMISES If the Demised Premises are totally destroyed by fire or other casualty not resulting from the wrongful or negligent act of Tenant, either Landlord or Tenant may by written notice, given not later than thirty (30) days after the date of such total destruction, terminate this Lease, in which event rent paid for the period beyond the date of destruction shall be refunded to Tenant.

  • Boyd, LANDLORD AND TENANT-INTERPRETATION OF CLAUSE IN A LEASE PROVIDING FOR TERMINATION IN EVENT OF DESTRUCTION OF PREMISES, 48 MICH.

Related to DESTRUCTION OF PREMISES

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent (50%) of the then Replacement Cost of the building.

  • Destruction means physical destruction or removal of personal identifiers from information so that the information is no longer personally identifiable.

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • Off-premises sign means a sign directing attention to a use, product, commodity or service not related to the premises upon which the sign is located.

  • Premises Partial Damage means damage or destruction to the Premises, other than Lessee-Owned Alterations and Utility Installations, the repair cost of which damage or destruction is less than fifty percent (50%) of the then Replacement Cost (as defined in Paragraph 9.1(d)) of the Premises (excluding Lessee-Owned Alterations and Utility Installations and Trade Fixtures) immediately prior to such damage or destruction.

  • Building construction means any physical activity on the site involved in the erection of a structure, cladding, external finish, formwork, fixture, fitting of service installation and the unloading of plant, machinery, materials or the like.

  • Rentable Area of Premises on Page 1 of the Lease shall be deleted in their entirety and replaced with the following:

  • Premises Total Destruction means damage or destruction to the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in six (6) months or less from the date of the damage or destruction. Lessor shall notify Lessee in writing within thirty (30) days from the date of the damage or destruction as to whether or not the damage is Partial or Total.

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Subleased Premises means all that portion of the Leased Premises referred to as airport lot as outlined on the site diagram attached as Schedule "A" to this Sublease; and

  • the Premises means the building or part of the building booked and referred to in the contract

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Building, structure, facility, or installation means all of the pollutant-emitting activities which belong to the same industrial grouping, are located on one or more contiguous or adjacent properties, and are under the control of the same person (or persons under common control) except the activities of any vessel. Pollutant-emitting activities shall be considered as part of the same industrial grouping if they belong to the same major group (i.e., which have the same two-digit code) as described in the Standard Industrial Classification Manual, 1972, as amended by the 1977 Supplement (U.S. Government Printing Office stock numbers 4101-0066 and 003-005-00176-0, respectively).

  • Construction sign means a sign which identifies the architect, engineers, contractors and other individuals or firms involved with the construction of a building, or announces the character of the building or enterprise, which is erected during the building construction period.

  • Demised Premises or “Premises” (and whether or not capitalized) is used herein, it shall be understood to mean the “premises leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not capitalized), it shall be understood to mean all of the contiguous land and buildings owned by Landlord at this location, which include the premises leased hereby. The term “Non-leased Premises” shall mean the Entire Premises less the Leased Premises.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Leasehold Improvements means all buildings, structures, improvements and fixtures located on any Leased Real Property which are owned by any Group Company, regardless of whether title to such buildings, structures, improvements or fixtures are subject to reversion to the landlord or other third party upon the expiration or termination of the Lease for such Leased Real Property.

  • Certificate of Substantial Completion means the certificate executed by the A/E, ODR and Contractor that documents to the best of A/E’s and ODR’s knowledge and understanding, Contractor’s sufficient completion of the work in accordance with the Contract, so as to be operational and fit for the use intended.

  • Construction and demolition waste means the waste building materials, packaging, and rubble resulting from construction, remodeling, repair, and demolition operations on pavements, houses, commercial buildings and other structures.

  • Repair means to restore to proper operating condition a tank, pipe, spill prevention equipment, overfill prevention equipment, corrosion protection equipment, release detection equipment or other UST system component that has caused a release of product from the UST system or has failed to function properly.

  • Building Work has the meaning given to it in section 6 of the Building and Construction Industry (Improving Productivity) Act 2016 (Cth);

  • Tenant Improvements Defined in Exhibit B, if any.

  • Premises means the location where the Services are to be supplied, as set out in the Specification.

  • The Building means any building of which the Property forms part.

  • Partial Condemnation means any Condemnation which does not constitute a Termination Event.

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.