FIRE CLAUSE Clause Samples
A Fire Clause is a contractual provision that addresses the responsibilities and procedures in the event of fire damage to property involved in the agreement. Typically, it outlines which party bears the risk of loss, how insurance proceeds are handled, and the steps to be taken for repair, restoration, or termination of the contract if the property is rendered unusable. This clause ensures that both parties understand their obligations and rights following a fire, thereby allocating risk and providing a clear process for managing such unforeseen events.
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FIRE CLAUSE. In the event of a fire or other casualty in the Premises, Lessee shall immediately give notice thereof to Lessor. If the Premises through no fault or neglect of Lessee, its agents or employees shall be partially destroyed by fire or other casualty so as to render the Premises untenantable in whole or in part, the rental provided for herein shall ▇▇▇▇▇ thereafter as to the portion of the Premises rendered untenantable until such time as the Premises are made tenantable as determined by Lessor and Lessor shall, upon receipt of insurance proceeds, commence and prosecute such repair work promptly and with all due diligence; provided, however, in the event such destruction results in the Premises being untenantable in whole or in substantial part for a period reasonably estimated by a responsible contractor selected by Lessor to be six (6) months or longer after Lessor's insurance settlement, or in the event of total or substantial damage or destruction of the Building from any cause and if Lessor shall decide not to rebuild, then all rent owed up to the time of such destruction or termination shall be paid by Lessee and thenceforth this Lease shall cease and terminate. Lessor shall give Lessee written notice of its decisions, estimates or elections under this Paragraph 5, Lessor shall only be obligated to restore or rebuild the Premises to a building standard condition; provided, however, Lessee shall have the right to cause Lessor to rebuild or restore the Premises to the condition they were in prior to such damage or destruction, in which event Lessee shall bear the cost of such restoration or rebuilding to the extent the same exceeds the costs Lessor would have incurred had only building standard improvements been used; provided, as a condition precedent to commencement of construction, Lessor may, at its option, require Lessee to PREPAY the construction costs in excess of those costs necessary to complete the Premises to building standard condition or provide evidence satisfactory to Lessor of Lessee's ability to pay such costs. Notwithstanding anything to the contrary in this Lease, if the holder of any debt secured by a lien on the Building or Premises requires insurance proceeds to be applied to that debt, then Lessor may terminate this Lease on written notice to Lessee, whereupon all further rights and obligations of each party shall terminate.
FIRE CLAUSE. If the said Premises shall be made untenantable, in whole, or in substantial part, by fire or other casualty, the Lessor, if it so elects, may (a) terminate the term of this Lease effective as of the date of such fire or casualty, by written notice given to the Lessee sixty (60) days after such date, or (b) repair, restore or rehabilitate said Premises at Lessor's expense, in which event the term hereof shall not tem1inate, but any fixed rent herein reserved shall be abated on a per diem basis in proportion to the area of the Premises rendered untenantable by such fire or casualty. Lessee shall give to Lessor prompt written notice of any fire, damage or casualty occurring in, about or to be Premises. In the event Lessor elects to rehabilitate said Premises, and Lessor has not substantially completed said rehabilitation within one hundred eighty (180) days from the date of such fire or other casualty, Lessee shall have the option, upon written notice to Lessor, to cancel and terminate this Lease, and all rent due hereunder shall be prorated up to and including the date of receipt of such notice of termination by Lessor.
FIRE CLAUSE. If any major component of the improvements constructed by the LESSEE on the leased Premises are damaged or destroyed, in whole or in part, by fire or other casualty at any time during the Term of this Lease, or Option Term, to the extent that it is no longer reasonably appropriate for LESSEE'S use and occupancy of said premises, LESSEE shall have the option of terminating this lease upon written notice to LESSOR within thirty (30) clays of the elate the premises are rendered untenantable or commencing reconstruction, repair, or the restoration of said major component of such improvements in a reasonable, sufficient, and timely manner at LESSEE'S sole cost and expense, in which case this lease shall continue in accordance with all of its terms and conditions. Failure of LESSEE to give notice of cancellation within said thirty (30) clay period shall mean that the LESSEE exercises its option to continue the lease in force and effect.
FIRE CLAUSE. The LESSEE agrees to notify LESSOR of any damages to the Leased Premises by fire or other hazard and also of any dangerous or hazardous condition within the Leased Premises immediately upon the occurrence of such fire or other hazard or discovery of such condition. Upon occurrence of a fire, repairs shall be made by LESSOR as soon as reasonably may be done unless the costs of repairing the Premises exceed 25% of the replacement cost of the building in which case the LESSOR may, at its option, terminate this lease by giving LESSEE written notice of termination within 30 days of the date of the occurrence. If the LESSOR does not terminate this Lease pursuant to the paragraph above, then LESSOR has 30 days after the date of occurrence to give written notice to LESSEE setting forth its unqualified commitment to make all necessary repairs or replacements, the projected date of commencement of such repairs, and the LESSOR’S best good faith estimate of the date of completion of the same. If the LESSOR fails to give such notice, or if the date of completion is more than 90 days after the date of the occurrence, then the LESSEE may, at its option, terminate this lease and the LESSOR will be obliged to refund to the LESSEE any rent allocable to the period subsequent to the date of the fire.
FIRE CLAUSE. It is mutually agreed that in case of injury to the premises by fire, the Landlord shall cause the damage to be repaired, the rent suspended only for such a time, an only in the proportion, as the premises shall remain untenantable; but if the building be destroyed or so damaged that the Landlord shall, in its sole discretion, decide it is not advisable to repair, this Lease shall cease and terminate and the Tenant shall pay the rent to the time of injury. If the Leased Premises or any other part of the Building is damaged by fire or other casualty resulting from any act or negligence of Tenant or any of Tenant’s agents, employees, or invitees, rent shall not be diminished or abated while such damages are under repair, and Tenant shall be responsible for the costs of repair not covered by insurance. Landlord shall maintain fire and extended coverage insurance on the Building and the Leased Premises in such amounts as Landlord shall deem appropriate. Tenant shall be responsible, at its expense, for fire and extended coverage insurance on all of its personal property, including removable trade fixtures, located in the Leased Premises.
FIRE CLAUSE. In the event of a fire in the Premises, Lessor and Lessee mutually covenant and agree that Lessee shall immediately give notice thereof to Lessor. If the Premises, through no gross negligence of Lessee, its agents, employees, invitees or visitors, shall be partially or entirely destroyed by fire or other casualty so as to render the Premises untenantable, the rental provided for herein shall a▇▇▇▇ thereafter until such time as the Premises are made tenantable as determined by Lessor (but in no event shall Lessor’s obligation exceed Building Standard Improvements). In the event of the destruction of the Premises through no gross negligence of Lessee, its agents, employees, invitees or visitors, or if from any cause the same shall be so damaged that Lessor shall decide not to rebuild, then Lessor or Lessee may terminate this Lease and all rent owed up to the time of such damage, destruction or termination shall be paid by Lessee and thenceforth this Lease shall cease and come to an end.
FIRE CLAUSE. (a) If the Premises are partially damaged by fire or other casualty, not occurring through Lessee's fault, and such damage can be repaired within one hundred eighty (180) days after the date of such occurrence, the Lease shall remain in full force and effect, and the Lessor shall promptly repair such damage at Lessor's expense, and in that event there shall be proportionate abatement of rent for so much of the Premises and may be untenantable during the period of repair or restoration unless the Premises were damages through Lessee's fault.
(b) If in the opinion of a registered architect or engineer appointed by the Lessor, the Premises are damaged by fire or other casualty to such an extent as to make them untenantable for a period of one hundred eighty (180) days or more from the date of such occurrence, and such damage cannot be repaired or the Premises restored within said time, this Lease shall terminate at the option of either the Lessor or Lessee upon written notice given within thirty (30) days after receiving said architect's or engineer's opinion. If damage is caused by Lessee's fault, then Lessee shall be responsible for all repairs and rent for the remaining term of the Lease.
FIRE CLAUSE. In the event the Building or the Demised Premises shall be damaged by fire, flood, windstorm, earthquake or any other casualty to such an extent that, in the written opinion (certified as such) of a mutually acceptable licensed architect, they cannot be restored to as good a condition as they were prior to such damage within one hundred fifty (150) days after the date of such casualty, Lessor and Lessee shall each have the right to cancel and terminate this Lease by delivering written notice of such termination to the other party within thirty (30) days after receipt of such architect's opinion (with the rental obligation being reduced from the date of such damage to the date of such termination in such proportion as will compensate Lessee for any space not usable by Lessee). If Lessor or Lessee does not exercise such right to cancel this Lease within such thirty (30) day period or if such architect shall have certified that such repairs can be made within a period of one hundred fifty (150) days, Lessor agrees to repair the Building and the Demised Premises with due diligence and, in the meantime, the rent shall be reduced in such proportion as will compensate Lessee for the space not in proper condition during such repair period. Notwithstanding any terms to the contrary in this Lease, Lessor and Lessee may each terminate this Lease if the damage is not covered by the insurance policies that Landlord must maintain, pursuant to Paragraph 23 of this Lease. It is further provided that in the event the Demised Premises is substantially destroyed by fire, flood, windstorm, earthquake or any other casualty within one (1) year prior to the expiration or earlier termination of the lease term, both Lessor and Lessee shall have the mutual right to terminate this Lease as of the date of such damage with written notice to the other party.
FIRE CLAUSE. In the event of a fire in the Premises, Lessor and Lessee mutually covenant and agree that Lessee shall immediately give notice thereof to Lessor. If the Premises, through no fault or neglect of Lessee, its agents, employees, OR invitees, shall be partially destroyed by fire or other casualty so as to render the Premises untenantable, the rental provided for herein shall abate thereafter until such time as the Premises are made tenantable ▇▇ ▇EASONABLY determined by Lessor (but in no event shall Lessor's obligation exceed Building Standard Improvements). In the event of the destruction of the Premises without fault or neglect of Lessee, its agents, employees, OR invitees, or if from any cause the same shall be so damaged that Lessor shall decide not to rebuild OR THE DAMAGE CAN NOT BE RESTORED WITHIN ONE HUNDRED TWENTY (120) DAYS OF THE DATE OF CASUALTY, then Lessor or Lessee may terminate this lease and all rent owed up to the time of such damage, destruction or termination shall be paid by Lessee and thenceforth this lease shall cease and come to an end.
FIRE CLAUSE. If, during the term of this lease, or any renewal thereof, the Premises are so injured by fire or other casualty not occasioned through Lessee's negligence that they are rendered wholly unfit for occupancy and cannot be repaired within Ninety (90) days, then Lessee shall have the option to terminate this lease. Otherwise, regardless of damage, the Premises shall be repaired within Ninety (90) days as long as the Lessee is current under the office lease and Lessee's tenancy dues not expire within six (6) months from the date of destruction. If such injury can be repaired within Ninety (90) days the Lessor shall enter and repair and this lease shall not be affected except that the rent shall be apportioned or suspended while such repairs are being made. If said Premises be slightly injured by fire or other such casualty, as not to be rendered unfit for occupancy, then it is agreed that the Lessor shall enter and repair with reasonable promptness and, in that case, the rent then accrued or accruing shall not terminate or cease. In the event that the Premises cannot be repaired within Ninety (90) days, then this Lease shall terminate.