Commercial Lease Casualty Damage and Restoration Clause

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A Commercial Lease Casualty Damage and Restoration Clause is a commercial lease clause (within a commercial lease) that addresses the rights, obligations, and procedures for both the landlord and tenant if the leased property suffers damage or destruction from casualty damage (unforeseen events such as fires, natural disasters, or other casualties).



References

2024

Casualty Damage Clause Label Distribution
Label Group Label Definition Clause 1 Clause 2 Clause 3 Clause 4 Clause 5 Clause 6 Clause 7
Damage Assessment CASUALTY_EVENT The occurrence of a casualty event that triggers the clause provisions. Yes Yes Yes Yes Yes Yes Yes
DAMAGE_ASSESSMENT Assessment of the extent and nature of the damage caused by the casualty event. Yes
SUBSTANTIAL_DAMAGE_DETERMINATION Determination that the damage is substantial enough to trigger certain provisions or rights. Yes Yes
INFEASIBILITY_DETERMINATION Determination that repair or reconstruction is not feasible. Yes
Restoration Obligation LANDLORD_RESTORATION_OBLIGATION The landlord's duty to repair and restore the damaged premises. Yes Yes Yes Yes
TENANT_RESTORATION_OBLIGATION The tenant's duty to repair and restore certain portions of the damaged premises. Yes
GRANTOR_RESTORATION_OBLIGATION The grantor's duty to repair and restore the damaged property. Yes
RESTORATION_SCOPE_LIMITATION Limitation on the scope of the landlord's restoration obligation. Yes
RESTORATION_EXCLUSIONS Items excluded from the landlord's restoration obligation. Yes Yes
Repair Timeline REPAIR_COMMENCEMENT The commencement of repairs by the landlord. Yes Yes
REPAIR_TIMELINE The timeline for completing repairs and restoration. Yes
RESTORATION_TIMELINE_ESTIMATE An estimate of the time required to complete repairs and restoration. Yes Yes
ASSESSMENT_TIMELINE The timeline for assessing the damage and necessary repairs.
Notice Requirements TENANT_NOTIFICATION_OBLIGATION The tenant's duty to notify the landlord of casualty damage. Yes Yes
NOTICE_REQUIREMENT A requirement to provide notice in certain circumstances.
NOTICE_TIMELINE The timeline for providing required notices.
Termination Rights LANDLORD_TERMINATION_RIGHT The landlord's right to terminate the lease under certain conditions. Yes Yes Yes Yes Yes
TENANT_TERMINATION_RIGHT The tenant's right to terminate the lease under certain conditions. Yes
MUTUAL_TERMINATION_RIGHT The right of either party to terminate the lease under certain conditions. Yes Yes Yes
TERMINATION_NOTICE_PERIOD The time period for providing notice of termination. Yes Yes Yes Yes Yes
TERMINATION_CONDITIONS Conditions or requirements for exercising termination rights. Yes
Rent Abatement RENT_ABATEMENT Reduction or suspension of rent during the repair and restoration period. Yes Yes Yes
ABATEMENT_CALCULATION The method for calculating the amount of the rent abatement.
ABATEMENT_DURATION The duration of the rent abatement period.
Insurance and Proceeds INSURANCE_PROCEEDS The use and allocation of insurance proceeds for repair and restoration.
MORTGAGEE_PROCEEDS_REQUIREMENT A mortgagee's right to require insurance proceeds to be applied to the mortgage debt. Yes Yes Yes Yes Yes
RESTORATION_COST_LIMITATION Limitation on the landlord's restoration costs to the amount of insurance proceeds received. Yes Yes
UNINSURED_LOSS The occurrence of a material uninsured loss. Yes Yes Yes Yes Yes
Liability and Exceptions TENANT_FAULT_EXCEPTION An exception to rent abatement or other rights if the damage was caused by the tenant's fault. Yes Yes Yes
LANDLORD_LIABILITY_EXCLUSION Exclusion of the landlord's liability for certain losses or damages. Yes
WAIVER_OF_LEGAL_RIGHTS Waiver of certain legal rights in favor of the provisions of the lease. Yes
Force Majeure FORCE_MAJEURE_DELAYS Delays in the landlord's performance due to force majeure events. Yes Yes
Miscellaneous CONTRACTOR_ASSESSMENT Assessment of the damage and repairs by a licensed contractor.
END_OF_TERM_DAMAGE Damage occurring near the end of the lease term. Yes Yes Yes
LANDLORD_REDEVELOPMENT_RIGHT The landlord's right to redevelop the property in certain circumstances. Yes Yes
AGREEMENT_TERMINATION Termination of the agreement due to infeasibility of reconstruction. Yes

2022