DESTRUCTION OF OR DAMAGE TO PREMISES Sample Clauses
The 'Destruction of or Damage to Premises' clause outlines the rights and responsibilities of the parties if the leased property is damaged or destroyed during the lease term. Typically, it specifies whether the landlord must repair the premises, under what circumstances the tenant may be entitled to rent abatement, or if either party can terminate the lease if the damage is extensive. This clause ensures both parties understand their obligations and remedies in the event of significant property damage, thereby reducing uncertainty and potential disputes.
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DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction, and rental shall be accounted for as between Lessor and Lessee as of that date. If the Premises are damaged, but not wholly destroyed by any of such casualties, rental shall ▇▇▇▇▇ in such proportion as use of the Premises has been destroyed, and Lessor shall restore the Premises to substantially the same condition as before damage as speedily as practicable, whereupon full rental shall recommence; provided, however, that if the damage shall be so extensive that the same cannot be reasonably repaired and restored within three (3) months from date of the casualty, then either Lessor or Lessee may terminate this Lease by giving written notice to the other party within thirty (30) days from the date of such casualty. In the event of such termination, rental shall be apportioned and paid up to the date of such casualty.
DESTRUCTION OF OR DAMAGE TO PREMISES. (a) If the Premises are damaged by fire or other Casualty prior to the Premises Conversion Date, then, except as expressly provided in paragraph 10(d), Tenant shall, at its expense, repair such damage and restore the Premises to substantially the same or better condition as existed before the occurrence of such fire or other Casualty using materials of the same or better grade than that of the materials being replaced (herein, a “Casualty Repair”) and this Lease shall remain in full force and effect. Such repair and replacement by Tenant shall be done in accordance with paragraph 23 and the standards of paragraph 9 and Tenant shall, at its expense, obtain all permits required for such work. An architect or engineer selected by Landlord shall review, at Tenant’s expense, all plans and specifications and all draw requests hereunder.
(b) In no event shall Fixed Rent or Additional Rent ▇▇▇▇▇, nor shall this Lease terminate (except as expressly provided in paragraph 10(d)), by reason of such damage, destruction or other Casualty. With respect to a Casualty occurring prior to the Premises Conversion Date, provided that no Event of Default by Tenant shall then exist under this Lease (and no event has occurred which, with the passage of time, the giving of notice, or both, would constitute an Event of Default), and provided Tenant has (Tenant hereby covenanting to do so): (i) delivered to Landlord plans and specifications and a budget for such Casualty Repair (all of which Landlord shall have approved), and (ii) deposited with Landlord or the Proceeds Trustee cash in the sum equal to the excess, if any, of the total cost set forth in such approved budget over the amount of net insurance proceeds received on account of such Casualty, then Landlord shall make or shall cause to be made available to Tenant all net insurance proceeds actually received by Landlord on account of such Casualty, for application to the costs of such approved repair and restoration, as set forth below.
(c) For all Casualty Repairs by Tenant with respect to a Casualty occurring prior to the Premises Conversion Date, the following apply:
DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, Landlord shall have the right to terminate this Lease on written notice to Tenant within thirty (30) days after such destruction and this Lease shall terminate as of the date of such destruction and rental shall be accounted for as between Landlord and Tenant as of that date.
DESTRUCTION OF OR DAMAGE TO PREMISES. If Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction, and rental shall be accounted for as between Landlord and Tenant as of that date. If Premises are damaged but not wholly destroyed by any of such casualties, rental shall abate in such proportion as use of Premises has been destr▇▇▇▇, and Landlord shall restore Premises to substantially the same condition as before damage as speedily as practicable, whereupon full rental shall recommence.
DESTRUCTION OF OR DAMAGE TO PREMISES. 11.1 If the Unit is destroyed or damaged to an extent which prevents the Tenant from having substantial beneficial occupation of the Unit, the Landlord shall reinstate the Unit (and if necessary, the Building) at its cost as quickly as possible in the circumstances. If it is not possible for the Landlord to reinstate the Unit within 2 (two) months of such damage or destruction, the Tenant shall be entitled to cancel this Agreement by giving written notice to the Landlord to that effect.
11.2 The Tenant shall not be liable for any Rental Amount for so long as he is deprived of beneficial occupation of the Unit but shall make payment of the rental due on a pro rata basis from time to time should he be given beneficial occupation of any part.
11.3 The Tenant shall have no claim against the Landlord as a result of the destruction or damage.
DESTRUCTION OF OR DAMAGE TO PREMISES. In the event the demised Premises, either prior to the commencement date of this Rental Agreement or during the term thereof shall be so damaged, by any cause whatever, as to be rendered unfit for occupancy by Tenant, and the Premises shall not thereafter be repaired by Landlord at its expense with reasonable promptness and dispatch, then this Rental Agreement may be immediately canceled and terminated at the option of Tenant by giving Landlord notice thereof, and rent (if any) shall be payable only to the date of such damage. Shall the Premises, either prior to the commencement date of this Rental Agreement or during the term thereof, be partially destroyed, by any cause whatever, but not rendered unfit for occupancy by Tenant, then Landlord agrees that the Premises, at Landlord's expense and with reasonable promptness and dispatch, shall be repaired and restored to substantially the same condition as before the damage. In the event of a partial destruction of the Premises there shall be a fair abatement in the rent payable during the time such repairs or rebuilding are being made. Such proportionate deduction of rent to be based upon the extent to which the making of such repairs or rebuilding shall interfere with the business carried on by Tenant in the Premises. Full rental shall again commence after completion of the repairs and restoration of the Premises by Landlord. In connection with the foregoing, it is agreed by the parties hereto that Tenant, after making a reasonable assessment of damages, shall make the decision as to whether or not the Premises are fit or unfit for occupancy by Tenant.
DESTRUCTION OF OR DAMAGE TO PREMISES. (6.4 SA)
DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are substantially destroyed or rendered substantially untenantable by storm, fire, earthquake or other natural catastrophe, this Agreement shall terminate as of the date of such substantial destruction or untenantability, with no obligation of Landlord to rebuild or provide other premises for Tenant, and the rental and other obligations accrued by or to the parties to this Agreement shall be accounted for between Landlord and Tenant as of the date when the Premises were substantially destroyed or became substantially untenantable; provided, however, that Landlord may require Tenant to occupy other premises as a condition of employment. For purposes of this paragraph, “substantially destroyed or rendered substantially untenantable” means at least fifty percent (50%) of the Premises destroyed or rendered untenantable.
DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction and rental shall be accounted for as between Landlord and Tenant as of that date. If the Premises are damaged but not wholly destroyed by any such casualties, rental shall ▇▇▇▇▇ in such proportion as use of the Premises has been destroyed. Notwithstanding the foregoing, at any time that the Premises is damaged as set forth in this Section, Tenant shall have the right to terminate this Lease upon written notice to Landlord.
DESTRUCTION OF OR DAMAGE TO PREMISES. If because of fire, the elements, or Act of God, the Premises or the Building is either destroyed or damaged so as to render the Premises wholly unfit for occupancy, or if, in the judgment of Landlord, the damage resulting cannot be repaired within sixty (60) days from such damage, then at the option of Landlord to be exercised by giving written notice to Tenant within sixty (60) days following the date of such damage, this Lease shall terminate on the date of such election, and Tenant shall immediately surrender the Premises to Landlord. In such event, and regardless of whether Landlord elects to terminate this Lease, Tenant shall continue to owe and pay Total Rent up to but not beyond the time of such surrender, but Total Rent shall abate in proportion to the numb▇▇ ▇▇ square feet of rentable area of the Premises rendered unusable by such damage. Under no circumstances shall Landlord be liable to Tenant for inconvenience, annoyance, loss of profits, expenses, or any other type of injury or damage resulting from the repair of any such damage, or from any repair, modification, arranging, or rearranging of any portion of the Premises or any part or all of the Building or for termination of this Lease as provided above. Tenant assumes the risks of any and all damage to its personal property in or on the Premises and from any casualty whatsoever.