Uninsured Damage definition

Uninsured Damage means damage or destruction to the Building and/or the Premises and/or any External Areas caused by any risks expressly specified in the definition of the Insured Risks so as to render the Premises wholly or partially unfit for occupation and use and/or inaccessible and which is not insured because insurance is not available or is not available at reasonable commercial rates such that the full cost of reinstatement and rebuilding caused by any such risks is not recoverable by the Landlord under its insurance policy.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Uninsured Damage means damage to the Property (but not of Tenant's Fittings in the Property) by any Insured Risks which:

Uninsured Damage means Damage not paid for by valid and collectible insurance.

Examples of Uninsured Damage in a sentence

In the event of any Uninsured Damage which does not result in the Premises being rendered unusable as a hotel, then Basic Rent shall ▇▇▇▇▇ in direct proportion to the proportion that the floor area of the Hotel subject to Uninsured Damage bears to the floor area of the Hotel not subject to Uninsured Damage, effective as of the date of such the Uninsured Damage and until such time (if ever) as the same has been substantially repaired.
In the event of any damage or destruction of the Premises other than Insured Damage ("Uninsured Damage") which results in the Premises being rendered unusable as a hotel, then this Lease shall terminate as of the date of such Uninsured Damage, unless either Landlord or Tenant provides the other party with written notice, within 30 days after such Uninsured Damage, that it will pay for and promptly and diligently perform repair of any and all such Uninsured Damage.
This will not affect any outstanding liabilities of any party to any other party but the Tenant will not be liable to repair the Property as a result of the damage by the Uninsured Damage.
To keep the Premises in good and substantial repair and condition throughout the Term (Uninsured Damage or damage by any of the Insured Risks excepted save to the extent that the insurance effected by us shall have been vitiated, avoided or forfeited because of some act or default of you or of any person deriving title over, under or through you or of your or their servants or agents).
If the foregoing conditions cannot be met, such destruction shall be treated as Uninsured Damage in accordance with the provisions of Section 6.1.2. Destruction that is required to be restored by Lessee in accordance with the terms of this Section 6.1.1 shall not terminate this Lease and there shall be no abatement of Rent otherwise payable hereunder.

More Definitions of Uninsured Damage

Uninsured Damage damage to or destruction of the Premises leaving the whole or substantially the whole of the Premises unfit for occupation or use by the Tenant or inaccessible, by a risk which is not an Insured Risk because: (a) cover for that risk is not generally available on normal commercial terms in the UK insurance market at the time the insurance is taken out, or (b) the risk is not insured because of exclusions or limitations otherwise than under normal excess provisions, imposed by the insurer;

Uninsured Damage has the meaning ascribed to it in paragraph 7.1 of Schedule 6; “VAT” means value added tax or other tax of a similar nature; “Working Day” means any day from Monday to Friday (inclusive) which is not Christmas Day, Good Friday or a statutory bank holiday; “1954 Act” means the Landlord and Tenant Act 1954; and “1995 Act” means the Landlord and Tenant (Covenants) Act 1995.

Uninsured Damage means that Landlord does not have insurance proceeds with respect to such damage (including and taking into account any deductible amounts, except as expressly provided in clause (B) hereinbelow), provided that (A) Landlord would also not have such proceeds had Landlord carried the insurance as required under this Lease, and (B) any deductible amounts that (1) do not pertain to earthquake, terrorism, mold and/or flood insurance (or any insurance not required to be carried by Landlord under Section 9.2 above), and (2) are in excess of the lesser of commercially reasonable deductible amounts at the time of such casualty or $500,000.00, shall not, to the extent of such excess, be considered part of Uninsured Damage or included in such Uninsured Costs. Additionally, where greater than forty percent (40%) of the Building is damaged by the casualty in question, and repairs thereto cannot, in Landlord’s reasonable opinion (certified by Landlord’s independent third-party licensed contractor), be completed within twelve (12) months after the necessity for repairs as a result of such damage becomes known to Landlord (certified by Landlord’s independent third-party licensed contractor), then, provided the Termination Condition has been met, Landlord may elect not to effect such repairs and instead terminate this Lease, by notifying Tenant in writing of such termination within sixty (60) days after Landlord learns of the necessity for repairs as a result of damage. The “Termination Condition” is defined as prior to or concurrently with Landlord’s termination notice terminating this Lease, Landlord terminates the leases of all other tenants of the Building which contain termination rights in favor of Landlord permitting Landlord to terminate such leases in the event of casualty damage. Upon the occurrence of any damage to the Premises for which Landlord has elected, or is otherwise required, to repair, then provided this Lease has not been terminated, Tenant shall assign to Landlord all insurance proceeds payable to Tenant under Section 9.3.2(i) above with respect to the Permanent Alterations in the Premises and Landlord shall repair any damage to such Permanent Alterations (provided if the cost of such repair of such Permanent Alterations exceeds the sum of (x) the amount of insurance proceeds for such Permanent Alterations received by Landlord from Tenant or Tenant’s insurance carrier, as assigned by Tenant, plus (y) any insurance proceeds received by Landlord from L...

Uninsured Damage means damage to or destruction of the whole or any part of the Premises or the remainder of the Building by any risks expressly specified in paragraph (a) of the definition of Insured Risks which renders the Premises unfit for occupation and use or inaccessible and which: (a) is not insured by reason of withdrawal of cover by the insurer and which is not otherwise available to be insured on the London insurance market; (b) is not insured by reason of withdrawal of cover by the Landlord on the grounds that cover cannot be placed in the London insurance market at reasonably commercial rates and on reasonably commercial conditions; or

Uninsured Damage means that the Building has been destroyed or damaged by an Uninsured Risk so as to render the Property inaccessible and/or unfit for beneficial occupation and use; and

Uninsured Damage shall have the meaning ascribed to it in Section 4.2(c) of this Lease.

Uninsured Damage means damage by an Uninsured Risk;