Damage and Destruction and Expropriation Sample Clauses

Damage and Destruction and Expropriation. 16.1 If, during the Term, the Premises are damaged or destroyed by fire or other casualty covered by a standard insurance policy, the Base Rent will a▇▇▇▇ in the proportion that the part of the Premises rendered unfit for occupancy bears to the whole of the Premises until the Premises are rebuilt. Unless the Lease is terminated as provided in Section 16.2, the Landlord agrees that it will, with reasonable diligence, repair the Premises to the extent that insurance proceeds for reconstruction are made available to the Landlord. 16.2 If the Premises are damaged or destroyed by any cause whatsoever and if the Landlord determines that the Premises cannot be rebuilt or made fit for the purposes of the Tenant’s use within one hundred and eighty (180) days of the damage or destruction, the Landlord shall advise the Tenant within thirty (30) days following such damage or destruction. The Landlord or Tenant may then, at its option, terminate the Lease by giving to the other party notice of termination within thirty (30) days of the Landlord’s notice above and thereupon any Rent and/or other payment for which the Tenant is liable under the Lease will be apportioned and paid to the date of such damage or destruction and the Tenant will immediately deliver up possession of the Premises to the Landlord. 16.3 The Tenant shall, when it becomes aware of same or when the Tenant should, acting reasonably, have become aware of same, notify the Landlord of any damage to, and/or deficiency and/or defect in any part of the Premises, and/or any equipment or utility systems, and/or any installations located therein, notwithstanding the fact that the Landlord may have no obligation with respect to same. 16.4 If the whole or any part of the Premises shall be condemned, expropriated or taken in any manner for any public or quasi-public use or purpose and as a result of any such event the Tenant is prevented from using the Premises for the purpose set forth in Section VI, the Landlord or the Tenant may at its option terminate this Lease by giving notice in writing to the other that the term hereof shall expire upon the date when possession is required for such purpose, and in the event of such expiration Landlord shall have no liability to Tenant of any nature whatsoever. 16.5 If the Landlord or the Tenant elects not to terminate the Lease, the Tenant shall be entitled to a diminution of the Rent during the period and for the area of the expropriation. Such diminution shall be reclai...
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Damage and Destruction and Expropriation. 36 ARTICLE 12 ASSIGNMENT, SUBLETTING AND OTHER TRANSFERS 40 ARTICLE 13 ACCESS AND ALTERATIONS 44 ARTICLE 14 STATUS STATEMENTS, SUBORDINATION AND ATTORNMENT 45
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Damage and Destruction and Expropriation. Section 11.01 -
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Damage and Destruction and Expropriation. 26 12.01 Destruction of the Leased Premises...............................26 12.02
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Damage and Destruction and Expropriation. Damage to the Leased Premises 11 Section 8.2 - Damage to or Expropriation of the Development 11
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Damage and Destruction and Expropriation 
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Related to Damage and Destruction and Expropriation

  • Damage and Destruction If all or any part of the Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of the occurrence of the loss; provided, however, Landlord shall not be obligated to commence such repair, restoration or rebuilding until insurance proceeds are received by Landlord, and Landlord’s obligation hereunder shall be limited to the proceeds actually received by Landlord under any insurance policy or policies, if any, less those amounts (i) which have been required to be applied towards the reduction of any indebtedness secured by a mortgage covering the Premises or any portion thereof, and (ii) which are used to reimburse Landlord for all costs and expenses, including but not limited to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the date Tenant opens for business in the Premises of the actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), but exclusive of Tenant’s personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a ▇▇▇▇ therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and stock in trade and reopen for business in the Premises within thirty (30) days after notice from Landlord that the Premises are ready for re-occupancy. No damage or destruction to the Premises shall allow Tenant to surrender possession of the Premises nor affect Tenant’s liability for the payment of rents or charges or any other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and eighty (180) days from the date of the casualty if: (a) The Premises or the building in which the Premises are located shall be damaged or destroyed as a result of an occurrence which is not covered by Landlord’s insurance; or (b) The Premises shall be damaged or destroyed during the last two (2) years of the Term or any renewals thereof; or (c) The Premises are damaged or destroyed to the extent of twenty five-percent (25%) or more of the replacement cost thereof, in which event Landlord will have the option of terminating this Lease or any renewal thereof by serving written notice upon Tenant and any prepaid Rent or Additional Rent will be prorated as of the date of destruction and the unearned portion of such Rent will be refunded to Tenant without interest. If the Premises shall be damaged or destroyed and in the event that Landlord has elected to continue this Lease, Landlord and Tenant shall commence their respective obligations under this Article as soon as is reasonably possible and prosecute the same to completion with all due diligence. Except where the damage or destruction results from the wrongful or negligent act or omission of Tenant, the Minimum Rent shall be abated proportionately with the degree to which Tenant’s use of the Premises is impaired during the period of any damage, repair or restoration provided for in this Article; provided further, that in the event Landlord elects to repair any damages as herein contemplated, any abatement of Minimum Rent shall end ten (10) days after notice by Landlord to Tenant that the Premises have been repaired. Tenant shall continue the operation of its business on the Premises during any such period to the extent reasonably practicable from the standpoint of prudent business management, and any obligation of Tenant under the Lease to apply charges reserved as Additional Rent shall remain in full force and nothing in the Section shall be construed to ▇▇▇▇▇ Additional Rent. Except for the abatement of Minimum Rent hereinabove provided, Tenant shall not be entitled to any compensation or damage for loss in the use of the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by any damage, destruction, repair or restoration. If Minimum Rent is abated there shall be all corresponding and appropriate reduction made to the Minimum Annual Volume. Unless this Lease is terminated by Landlord, Tenant shall repair, restore and re-fixture all parts of the Premises not insured under any insurance policies insuring Landlord in a manner and to a condition equal to that existing prior to its destruction or damage, including, without limitation, all exterior signs, trade fixtures, equipment, display cases, furniture, furnishings and other installations of personality of Tenant. The proceeds of all insurance carried by Tenant on its property and improvements shall be held in trust by Tenant for the purpose of said repair and replacement. Tenant shall give to Landlord prompt written notice of, any damage to or destruction of any portion of the Premises resulting from fire or other casualty.