Common use of Partial Damage or Destruction Clause in Contracts

Partial Damage or Destruction. In case of damage to or destruction of less than fifty percent (50%) of the Premises, Landlord shall, at its own expense, promptly repair and restore the Premises substantially to the condition which existed prior to such damage or destruction. The proceeds of any insurance covering such damage or destruction shall be made available to Landlord for such repair or replacement. Rent payable under this Lease shall be abated, by an amount equal proportional amount of the Premises determined to be untenantable, during any period of repair or replacement.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement