Common use of Damage and Reconstruction Clause in Contracts

Damage and Reconstruction. If the Leased Premises or any part of thereof shall be partially damaged by fire or other casualty, acts of God or other cause, but shall not be rendered unfit for occupancy, the damage to the Leased Premises shall be repaired by Lessor to the extent of available proceeds of insurance, and the Base Rent and all additional rents and charges otherwise due hereunder shall be abated on a per diem basis proportionate to the extent of damage and for the period the Leased Premises are being repaired. Lessor shall incur no liability on account of any delay in the completion of such repairs, including loss of business receipts or business opportunity, which may arise by reason of adjustment of insurance, labor difficulties or any other cause beyond Lessor's control. If all or substantially all of the Leased Premises are made unfit for occupancy by fire or other casualty, acts of God or other cause, Lessor may elect (i) to terminate this Lease as of the date the Leased Premises are so made unfit for by written notice to Lessee within ninety (90) days of the fire or other casualty, or (ii) to repair, restore or rehabilitate the Leased Premises utilizing the proceeds of insurance within one hundred eighty (180) days after Lessor is enabled to take possession of the damaged Leased Premises and undertake reconstruction or repairs. If Lessor elects so to repair, restore or rehabilitate the Leased Premises, this Lease shall not terminate, but the Base Rent and all additional rents and charges otherwise due hereunder shall be abated on a per diem basis proportionate to the extent and for the period that the Leased Premises are unfit for occupancy. In the event Lessor shall proceed under (ii) above and shall not substantially complete the work within the one hundred eighty (180) day period (excluding from such period loss of time resulting from delays beyond the reasonable control of Lessor), either Lessor or Lessee may then terminate this Lease by written notice to the other not later than ten (10) days after the expiration of the one hundred eighty (180) day period, computed as herein provided. In the event of termination of this Lease, the Base Rent and all additional rents and charges payable hereunder shall be apportioned on a per diem basis to and including the date of such termination. Lessor shall not be required to repair or rebuild any personal property, furniture, trade fixtures or office equipment located in the Leased Premises and removable by Lessee under the terms of this Lease.

Damage and Reconstruction. If Should the Leased Premises or any part be damaged during the term of thereof this Lease, the rights and responsibilities of Landlord and Tenant shall be partially as follows: (1) In the event the Premises are damaged by fire or other casualtyperils covered by extended coverage insurance, acts Landlord agrees to commence repairs within thirty (30) days of God or other causethe casualty and diligently prosecute the same to completion and this Lease shall remain in full force and effect, but except that Tenant shall not be rendered unfit for occupancyentitled to a proportionate reduction of the minimum rent from the date of damage and while such repairs are being made, such proportionate reduction to be based upon the extent to which the damage and making of such repairs shall reasonably interfere with the business carried on by Tenant in the Premises. If the damage is due to the Leased Premises fault or neglect of Tenant or its employees, there shall be repaired no abatement of rent. (2) In the event the Premises are damaged as the result of any cause other than the perils covered by Lessor fire and extended coverage insurance, or if insurance proceeds are not available to Landlord, then Landlord shall commence repairs within thirty (30) days of the casualty and diligently prosecute the same to completion, provided the extent of available proceeds the destruction is less than 10% of insurance, and the Base Rent and all additional rents and charges otherwise due hereunder shall be abated on a per diem basis proportionate then full replacement cost of the Premises. In the event the destruction of the Premises is to the an extent of damage and for the period the Leased Premises are being repaired. Lessor shall incur no liability on account of any delay in the completion of such repairs, including loss of business receipts 10% or business opportunity, which may arise by reason of adjustment of insurance, labor difficulties or any other cause beyond Lessor's control. If all or substantially all more of the Leased Premises are made unfit for occupancy by fire or other casualtyfull replacement costs, acts of God or other cause, Lessor may elect then Landlord shall have the option (ia) to terminate repair or restore such damage, this Lease continuing in full force and effect, but the minimum rent to be proportionately reduced as hereinabove provided, or (b) to give notice to Tenant at any time within 60 days after such damage, terminating this Lease as of the date specified in the Leased Premises are so made unfit for by written notice to Lessee within ninety (90) days of the fire or other casualtynotice, or (ii) to repair, restore or rehabilitate the Leased Premises utilizing the proceeds of insurance within one hundred eighty (180) days after Lessor is enabled to take possession of the damaged Leased Premises and undertake reconstruction or repairs. If Lessor elects so to repair, restore or rehabilitate the Leased Premises, this Lease shall not terminate, but the Base Rent and all additional rents and charges otherwise due hereunder which date shall be abated on a per diem basis proportionate to the extent and for the period that the Leased Premises are unfit for occupancy. In the event Lessor shall proceed under (ii) above and shall not substantially complete the work within the one hundred eighty (180) day period (excluding from such period loss of time resulting from delays beyond the reasonable control of Lessor), either Lessor or Lessee may then terminate this Lease by written notice to the other not later no more than ten (10) 30 days after the expiration giving of the one hundred eighty (180) day period, computed as herein providedsuch notice. In the event of termination of giving such notice, this Lease, the Base Rent Lease shall expire and all additional rents interest of the Tenant in the Premises shall terminate on the date so specified in such notice and charges payable hereunder the minimum rent, reduced by a proportionate reduction, based upon the extent, if any, to which such damage interfered with the business carried on by Tenant in the Premises, shall be apportioned on a per diem basis paid up to and including the date of such termination. (3) Notwithstanding anything to the contrary contained in this paragraph, Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damage resulting from any casualty covered under this paragraph occurs during the last 12 months of the term of this Lease or any extension thereof. Lessor In such event, Landlord may, at Landlord's option: (a) terminate this Lease in the manner provided in subparagraph 23(2) above; or (b) reduce the minimum rent by a proportion equal to the extent, if any, the damage interferes with the business carried on by Tenant in the Premises. Landlord shall not be required to repair any injury or rebuild damage by fire or other cause or to make any repairs or replacements of any leasehold improvements, fixtures, or other personal property, furniture, trade fixtures or office equipment located in the Leased Premises and removable by Lessee under the terms property of this LeaseTenant.