Common use of Reconstruction in the Event of Damage or Destruction Not Covered by Insurance Clause in Contracts

Reconstruction in the Event of Damage or Destruction Not Covered by Insurance. Subject to the terms of any Landlord’s Mortgage, if during the Term the Premises are partially destroyed by a risk not covered by the insurance described in Article 11, Landlord shall have the option, in its sole discretion to (i) restore the Premises to substantially the same condition it was in immediately before such damage or destruction or (ii) terminate this Lease by giving notice to Tenant within thirty (30) days after Landlord’s receipt of notice from the applicable insurer that the damage will not be covered by insurance. In the event that Landlord elects to terminate the Lease, Tenant shall have no further obligations under the Lease from and after the date of damage or destruction and Landlord shall reimburse Tenant for any payments of Minimum Rent made after the date of damage or destruction.