Casualty and Taking. In case during the Term all or any substantial part of the Premises, Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's election, which may be made, notwithstanding Landlord's entire interest may have been divested, by notice to Tenant within 30 days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 nor more than 60 days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not terminated, Landlord shall use due diligence to put the Premises, or, in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlord, and a just proportion of the Annual Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating Expenses.
Appears in 3 contracts
Samples: Docent Inc, Docent Inc, Photoelectron Corp
Casualty and Taking. In case during the Term all or any substantial part of the Premisesdemised premises, Buildingthe buildings, or Lot or any one or more of them, are damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authoritydomain, this Lease lease shall terminate at Landlord's ’s election, which may be made, made notwithstanding Landlord's ’s entire interest may have been divested, by notice given to Tenant within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate. Said notice shall, which notice shall in the case of damage as aforesaid, specify the effective date of termination which shall be not less than 30 thirty nor more than 60 sixty days after the date of notice of such termination. In the case of any such taking by eminent domain, the effective date of the termination shall be the day on which the taking authority shall take possession of the taken property. Fixed Rent and additional rent shall be apportioned and adjusted as of the effective date of any such termination. If in any such case the Premises demised premises are rendered unfit for use and occupation and the Lease this lease is not so terminated, Landlord shall use due diligence to put the Premisesdemised premises, or, in the case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove, from the demised premises at the expiration of the Term) into proper condition for use and occupation occupation, but Landlord shall not be required to the extent permitted by spend more than the net award proceeds of insurance or award of damages available to Landlordit receives therefor, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury to the demised premises shall be abated until the Premises demised premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premisesdemised premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term Term. Notwithstanding the foregoing, in the event that there is a fire or other casualty or a taking by eminent domain or by action of public or other authority, Landlord shall, within thirty (30) days of such event, make a good faith estimate of the anticipated restoration time. If pursuant to such estimate the damage to the base buildings or the Lot cannot be repaired and an appropriate adjustment restored to substantially the same dimensions as prior to the casualty and as reasonably required for Tenant to conduct its business within eighteen (I8) months from the occurrence of the same, Tenant shall have the right to terminate this lease by notice to this effect given to Landlord within thirty (30) days after receipt of Landlord’s determination as aforesaid, and which termination shall be made effective on the tenth (10th) day following the receipt by Landlord of said termination notice. If this lease shall not be terminated, as aforesaid, Landlord shall promptly commence to rebuild same provided, however, that if the buildings or Lot are not so restored within said eighteen (18) months, then Tenant shall have the right, as Tenant’s sole remedy, to terminate this lease at any time thereafter but prior to the Annual Estimated Operating Expensescompletion of the restoration. Further, if any such fire or other casualty or taking by eminent domain or by action of public or other authority occurs during the last two (2) years of the Term of this lease, and the demised premises are damaged or destroyed as a result thereof to the extent of fifteen percent (15%) or more of its insurable value, or if the square foot floor area of the demised premises are reduced by such taking during the last two (2) years of the Term by more than fifteen percent (15%), then Landlord and Tenant shall have the right to terminate this lease, by written notice given to the other party within thirty (30) days after the casualty or taking, and which termination shall, be effective on the tenth (10th) day following the delivery of said termination notice.
Appears in 2 contracts
Samples: Lease (Acorda Therapeutics Inc), Lease (Civitas Therapeutics, Inc.)
Casualty and Taking. In case during the Term all or any substantial part of the Premises, the Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, cause or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's or Tenant's election, which may be made, notwithstanding notwithstanding. Landlord's entire interest may have been divested, by notice given to Tenant Tenant, or Landlord as applicable, within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 thirty (30) nor more than 60 sixty (60) days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, or, or in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlorddamages, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; , and in case of a taking or any other aforementioned cause which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating ExpensesCosts.
Appears in 2 contracts
Samples: Lease (Irobot Corp), Lease (Irobot Corp)
Casualty and Taking. In case during the Term all or any substantial part of the Premises, BuildingBuilding or Land, or Lot or any one or more of them, are damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's election, which may be made, notwithstanding Landlord's entire interest may have been divested, by notice to Tenant within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 thirty (30) nor more than 60 sixty (60) days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, or, in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the tile net award of insurance or damages available to Landlord, and a just proportion of the Annual Rent and additional rent Additional Rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Rent and additional rent Additional Rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Tenant's Operating ExpensesExpense Base Year Amount.
Appears in 2 contracts
Samples: Office Lease Agreement (Call Points Inc), Hartsfield Centre (Vialog Corp)
Casualty and Taking. In case during the Term term of this lease all or any substantial part of the Premisesleased premises, the Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authoritydomain, this Lease lease shall terminate at LandlordLessors's or Lessee’s election, which may be made, made notwithstanding LandlordLessors's or Lessee’s entire interest may have been divested, by notice given to Tenant the other party within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate. Said notice shall, which notice shall in the case of damage as aforesaid, specify the effective date of termination which shall be not less than 30 thirty (30) nor more than 60 sixty (60) days after the date of notice of such termination. In the case of any such taking by eminent domain, the effective date of the termination shall be the day on which the taking authority shall take possession of the taken property. Fixed Rent and additional rent shall be apportioned and adjusted as of the elective date of any such termination. If in any such case the Premises leased premises are rendered unfit for use and occupation and the Lease this lease is not so terminated, Landlord both parties shall use due diligence to put the Premisesleased premises, or, in the case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant both parties may be required or permitted to removeremove from the leased premises at the expiration of the term of this lease) into proper condition for use and occupation occupation, but both parties shall not be required to the extent permitted by spend more than the net award proceeds of insurance or award of damages available to Landlordit receives therefore, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury to the leased premises shall be abated until the Premises leased premises or such remainder shall have been put by Landlord both parties in such condition; and in case of a taking which permanently reduces the area of the Premisesleased premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating ExpensesTerm.
Appears in 1 contract
Samples: School Year Lease Agreement
Casualty and Taking. In case during the Term any substantial part of the Premises, or all or any substantial part of the Premises, Building, or Lot or any one or more of them, are are, in the reasonable, good faith judgment of Landlord’s architect, damaged materially by fire or any other cause, or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's ’s or Tenant’s election, which may be made, notwithstanding Landlord's ’s entire interest may have been divested, by notice given to Tenant the other within 30 sixty (60) days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 thirty (30) nor more than 60 sixty (60) days after the date of notice of such termination. Landlord shall cause its architect to deliver to Tenant a certification as to such restoration period within forty-five (45) days after the casualty. For purposes of this Section 7.1, a substantial part of the Building or Lot or material damage to the Premises or Building shall be damage that a will take, using reasonable diligence, more than nine (9) months from the date of such casualty to repair. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not terminated, Landlord shall use due diligence to put promptly commence and diligently prosecute the restoration of the Premises, or, or in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted thereof, into substantially the condition immediately prior to remove) into proper condition for use and occupation the casualty, subject to applicable law to the extent permitted by the net award of insurance or damages available to Landlorddamages, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating Expenses. In the event that such restoration is not completed within twelve (12) months after the date of such casualty (as such period may be extended by Force Majeure Delays [not to exceed an additional thirty (30) days] and/or Tenant Delays), Tenant shall have the right to terminate the Lease by notice to Landlord.
Appears in 1 contract
Samples: Lease (Zoran Corp \De\)
Casualty and Taking. In case during the Term all or any substantial part of the Premisesdemised premises, the Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authoritydomain, this Lease lease shall terminate at Landlord's election, which may be made, made notwithstanding Landlord's entire interest may have been divested, by notice given to Tenant within 30 thirty days after the occurrence of the event giving rise to the election to terminate. Said notice shall, which notice shall in the case of damage as aforesaid, specify the effective date of termination which shall be not less than 30 thirty nor more than 60 sixty days after the date of notice of such termination. In the case of any such taking by eminent domain, the effective date of the termination shall be the day on which the taking authority shall take possession of the taken property. Fixed Rent and additional rent shall be apportioned and adjusted as of the effective date of any such termination. If in any such case the Premises demised premises are rendered unfit for use and occupation and the Lease this lease is not so terminated, Landlord shall use due diligence to put the Premisesdemised premises, or, in the case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to removeremove from the demised premises at the expiration of the Term) into proper condition for use and occupation occupation, but Landlord shall not be required to the extent permitted by spend more than the net award proceeds of insurance or award of damages available to Landlordit receives therefor, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury to the demised premises shall be abated until the Premises demised premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premisesdemised premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment Term. Appropriate consideration shall be made given as to whether the part so taken is warehouse space or office space. Notwithstanding the foregoing, if there shall be damage or destruction to the Annual Estimated Operating Expensesdemised premises by fire or other casualty which shall not be repaired or restored by Landlord within a period of twelve (12) months after the date of such damage or destruction, then Tenant, as Tenant's sole remedy, may terminate the Term of this lease by a notice to Landlord within sixty (60) days after the expiration of such twelve (12) month period; provided that said repair or restoration shall not have been completed prior to the receipt by Landlord of said notice.
Appears in 1 contract
Samples: Lease (Harvardnet Inc)
Casualty and Taking. 5.1. In case during the Lease Term (or any extension thereof) all or any substantial part of the Premises, Building, Premises or the Building or the Lot or any one or more of them, the Garage are damaged materially by fire fire, force majeure, civil commotion, war, or any other cause, casualty or by action of the public or other authority in consequence thereof thereof, or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's election, which election may be mademade only if all or a material part of the Premises, notwithstanding Landlord's entire interest may have been divestedthe Building, by the Lot and/or the Garage are so taken or damaged. If the Landlord elects to terminate, the Landlord must give notice to Tenant of such election within 30 ninety (90) days after the occurrence of the event giving which gives rise to the election right to terminate, which notice shall specify the elect termination. The effective date of termination which shall be not less than 30 fifteen (15) nor more than 60 thirty (30) days after the date of notice of such termination. Rent and additional rent shall xxxxx effective on the date of termination or such earlier date as the Premises are not fit for the Permitted Uses. If in any such case case, the Premises Premises, Building, Lot and/or Garage are rendered unfit for use and occupation the Permitted Uses and the Lease is not so terminated, Landlord shall use due diligence (following the expiration of all periods in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section 5.1) to put the Premises, orBuilding, Lot and/or Garage, or in case of a taking, taking what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to removeremove pursuant to Section 4.2) into proper condition for use and occupation to the extent permitted by Permitted Uses. In the net award event of insurance or damages available to Landlorda casualty, and a just proportion of the Annual Rent rent and additional rent according to the nature and extent of the injury shall be abated until the Premises Premises, Building, Lot and/or Garage or such remainder shall have been put by Landlord in such condition; condition as the same may be used and in case occupied for the Permitted Uses. In the event of a taking which permanently reduces the area areas of the Premises, Building, Lot and/or Garage, a just proportion of the Annual Rent rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment Lease Term. In case of such damage or taking, Landlord shall notify Tenant within thirty (30) days after the occurrence thereof of Landlord’s estimate of the time needed to do the construction work necessary to put the Premises, Building, Lot and/or Garage or such remainder in proper condition for the Permitted Uses. If Landlord has not commenced such repairs within sixty (60) days of such damage or taking having occurred, and/or shall not thereafter cause such repairs to be made diligently pursued until completion, Tenant may terminate this Lease upon thirty (30) days’ prior notice to the Annual Estimated Operating ExpensesLandlord.
Appears in 1 contract
Samples: CNB Financial Corp.
Casualty and Taking. In case during the Term all or any substantial part of the Premises, Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, cause or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's election, which may be made, notwithstanding Landlord's entire interest may have been divested, by notice to Tenant within 30 days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 nor more than 60 days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, or, in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlord, and a just proportion of the Annual Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating Expenses. Notwithstanding the foregoing, if such damage (a) cannot, in Landlord's reasonable opinion asserted in a notice delivered within 30 days of such casualty ("Landlord's Notice"), be fully repaired within six months after Landlord's Notice, or (b) is not in fact repaired within six months after Landlord's Notice (plus up to an additional 30 days required by reason of causes beyond Landlord's control), Tenant shall have the right, by written notice to Landlord given within 30 days after Landlord's Notice, or, as the case may be, within 30 days after the expiration of said six-month construction period (as so extended) if the repairs are not then completed to terminate this Lease, effective as of the date of such casualty as if that date were the date set forth in this Lease for the expiration of the Term; provided, however, that Tenant's failure to provided Landlord with such notice within said 30-day period shall waive Tenant's right to terminate under this Section 7.1; and provided, further, that Tenant shall have no right to terminate if the casualty which damaged the Premises or Building was caused solely by the negligence of Tenant, its agents, employees, invitees, licensees, subtenants or assignees or any combination of such parties.
Appears in 1 contract
Samples: Sublease Agreement (Sonoma Systems)
Casualty and Taking. In case during the Term all or any substantial part of the Demised Premises, the Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authoritydomain, this Lease shall terminate at Landlord's ’s election, which may be made, made notwithstanding Landlord's ’s entire interest may have been divested, by notice given to Tenant within 30 thirty days after the occurrence of the event giving rise to the election to terminate. Said notice shall, which notice shall in the case of damage as aforesaid, specify the effective date of termination which shall be not less than 30 thirty nor more than 60 sixty days after the date of notice of such termination. In the case of any such taking by eminent domain, the effective date of the termination shall be the day on which the taking authority shall take possession of the taken property. Fixed Rent and additional rent shall be apportioned and adjusted as of the effective date of any such termination. If in any such case the Demised Premises are rendered unfit for use and occupation and the this Lease is not so terminated, Landlord shall use due diligence to put the Demised Premises, or, in the case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to removeremove from the Demised Premises at the expiration of the Term) into proper condition for use and occupation occupation, but Landlord shall not be required to the extent permitted by spend more than the net award proceeds of insurance or award of damages available to Landlordit receives therefor, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury to the Demised Premises shall be abated until the Demised Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Demised Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating ExpensesTerm.
Appears in 1 contract
Casualty and Taking. In case during 6.1 DAMAGE BY FIRE OR CASUALTY Landlord shall at all times maintain insurance covering the Term all Building on an all-risk basis with an extended coverage endorsement, in an amount not less than 80% of replacement cost of the Building. If the Premises or any substantial part of the Premises, Building, or Lot or any one or more of them, are thereof shall be damaged materially by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to the then applicable statutes, building codes, zoning ordinances and regulations of any other causegovernmental authority, or and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by action any mortgagee of the public Building) to repair or other authority in consequence cause to be repaired such damage, provided, however, all repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's election, which may be made, notwithstanding Landlord's entire interest may have been divested, by notice to Tenant within 30 days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 nor more than 60 days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and hereunder or access thereto is denied (without reasonable substitute access having been provided) by reason of such damage, the Lease is not terminated, Landlord shall use due diligence to put the Premises, or, in case of a taking, what may remain thereof (excluding any items installed Annual Basic Rent or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlord, and a just proportion of the Annual Rent and additional rent proportionate part thereof, according to the nature and extent of to which the injury Premises shall have been so rendered unfit or access is denied, shall be abated until the Premises (except as to the property which is to be repaired by or such remainder at the expense of Tenant) shall have been put by restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such condition; repairs which are due to government regulation, casualties and strikes, unavailability of labor and materials, and other causes beyond the reasonable control of Landlord, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in case of a taking which permanently reduces the area repairing such damage due to any of the Premises, a just proportion of the Annual Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating Expensesforegoing causes.
Appears in 1 contract
Samples: Pure Atria Corp
Casualty and Taking. In case during the Term all or any substantial part of the Premises, the Building, or Lot or any one or more of them, them (i.e. requiring greater than ten months to rebuild in Landlord's judgment) are damaged materially by fire or any other cause, cause or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at LandlordLandlor or Tenant's election, which may be made, notwithstanding Landlord's entire interest may have been divested, by notice given to Tenant each other within 30 days after (i) the occurrence of the event giving rise to the election to terminateterminate and (ii) notice from Landlord to Tenant of Landlord's estimate of the approximate construction period to repair the casualty, which notice will be given to Tenant within 60 days after the occurrence, which notice shall specify the effective date of termination which shall be not no less than 30 nor more than 60 days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, or, or in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlorddamages, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating Expenses.
Appears in 1 contract
Samples: Apertus Technologies Inc
Casualty and Taking. In case during the Term all or any substantial part more than fifty percent (50%) of the Premises, Building, rentable area of the Demised Premises or Lot or any one or more of them, the Building are damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authoritydomain, this Lease shall terminate at Landlord's ’s election, which may be made, made notwithstanding Landlord's ’s entire interest may have been divested, by notice given to Tenant within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate. Said notice shall, which notice shall specify in the case of damage as aforesaid, be effective as of the date of such casualty event. In the case of any such taking by eminent domain, the effective date of the termination which shall be not less than 30 nor more than 60 days after the day on which the taking authority shall take title to or possession of the taken property. Fixed Rent and additional rent shall be apportioned and adjusted as of the effective date of notice of any such termination. If in any such case the Demised Premises or the Building are rendered unfit for use damaged by a casualty or eminent domain taking and occupation and the this Lease is not terminatedso terminated as aforesaid, Landlord shall use due diligence restore the Demised Premises and the Building to put the Premises, or, condition they were in case of a taking, what may remain thereof prior to such casualty or taking (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation remove from the Demised Premises at the expiration of the Term), but Landlord shall not be required to the extent permitted by spend more than the net award proceeds of insurance or award of damages available to Landlordrecoverable therefor, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury to the Demised Premises shall be abated until the Demised Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Demised Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment Tenant’s Share of Operating Expenses and Tenant’s Share of Taxes shall be made proportionately adjusted. Landlord shall notify Tenant within thirty (30) days following the occurrence of any casualty or taking of the estimated time to restore the Demised Premises, the Building or the Lot. If such estimated time is more than one (1) year from the occurrence of such casualty or taking, or if Landlord commences its repair of the Demised Premises, the Building or the Lot and has not substantially completed the same within one (1) year after the occurrence of such casualty or taking, then Tenant shall have the right, upon thirty (30) days prior written notice to Landlord given at any time after such one (1) year period but prior to the Annual Estimated Operating Expensesdate Landlord has completed such restoration, to terminate this Lease. Additionally, and notwithstanding anything in this Subsection (A) to the contrary, if any casualty to or taking of the Demised Premises, the Building or the Lot occurs during the last twelve (12) months of the Term and causes the Demised Premises (or material portion thereof) to be untenable or materially impairs Tenant’s use of the Demise Premises for the Permitted Use for a period of more than ninety (90) days, then Tenant may terminate this Lease upon not less than thirty (30) days prior written notice to Landlord. Notwithstanding the foregoing, in the event Landlord receives a notice of termination from Tenant as a result of a casualty or taking pursuant to this Section (A), in the event Landlord substantially completes any applicable restoration within such thirty (30) day notice period described above, Tenant’s exercise of its right to terminate this Lease shall be deemed to be rescinded and the Lease shall remain in full force and effect.
Appears in 1 contract
Casualty and Taking. In case during the Term all or any substantial part of the Premisesdemised premises, the Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authoritydomain, this Lease lease shall terminate at Landlord's election, which may be made, made notwithstanding Landlord's entire interest may have been divested, by notice given to Tenant within 30 thirty days after the occurrence of the event giving rise to the election to terminate. Said notice shall, which notice shall in the case of damage as aforesaid, specify the effective date of termination which shall be not less than 30 thirty nor more than 60 sixty days after the date of notice of such termination. In the case of any such taking by eminent domain, the effective date of the termination shall be the day on which the taking authority shall take possession of the taken property. Fixed Rent and additional rent shall be apportioned and adjusted as of the effective date of any such termination. If in any such case the Premises demised premises are rendered unfit for use and occupation and the Lease this lease is not so terminated, Landlord shall use due diligence to put the Premisesdemised premises, or, in the case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to removeremove from the demised premises at the expiration of the Term) into proper condition for use and occupation occupation, but Landlord shall not be required to the extent permitted by spend more than the net award proceeds of insurance or award of damages available to Landlordit receives therefor, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury to the demised premises shall be abated until the Premises demised premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premisesdemised premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment Term. If there shall be made damage or destruction to the Annual Estimated Operating Expensesdemised premises by fire or other casualty which shall not be repaired or restored by Landlord within a period of nine (9) months after the date of such damage or destruction, then Tenant, as Tenant's sole remedy, may terminate the Term of this lease by a notice to Landlord within sixty (60) days after the expiration of such nine (9) month period; provided that said repair or restoration shall not have been completed prior to the receipt by Landlord of said notice.
Appears in 1 contract
Samples: Lease (Sycamore Networks Inc)
Casualty and Taking. In case during Nothing in this Lease to the Term all or contrary withstanding, if any substantial part of the Premises, Building, or Lot or any one or more of them, are Premises is damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof thereof; or are any portion of the Building is so damaged thereby that OWNER decides to demolish or alter substantially the Tower or Premises; or any portion of the Building is taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this ; or any portion of the Building is so taken or receives such damage that OWNER decides to demolish or alter the Tower; the Lease shall terminate at LandlordOWNER's election, which may be made, notwithstanding Landlordmade whether or not OWNER's entire interest may have been divested. In case of such taking of part of the Premises, if the remainder is insufficient for use for TENANT's purposes, or in case of such damage or taking if the time needed to do the construction work necessary to put the remaining portion of Premises in proper condition for use and occupation is reasonably estimated to exceed six months, or OWNER does not commence within sixty days after the damage or the surrender of the part taken and proceed with reasonable diligence to do such work and complete the same within six months after such commencement except for delays due to governmental regulations, unusual scarcity of or inability to obtain labor or materials, labor difficulties, or other causes reasonably beyond OWNER's control, TENANT may by notice to Tenant OWNER terminate this Lease within 30 thirty days after the occurrence of the event giving rise right to the election to terminateterminate arises. If, which notice shall specify the effective date of termination which shall be not less than 30 nor more than 60 days after the date of notice of such termination. If in any such case case, the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, or, in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlord, and a just proportion of the Annual Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises (or such remainder in the case of taking, what remains thereof), excluding any fixtures or items installed or paid for by TENANT which TENANT is entitled or required to remove by this Lease shall have been put by Landlord OWNER in such condition; proper condition for use and in occupation. In case of termination by TENANT, a like proportion of the rent shall be abated until the termination. In case of taking which permanently reduces the area of the Premises, a just proportion of the Annual Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment Lease term. TENANT will promptly notify OWNER of any damage to the Premises from any cause. Nothing herein contained shall be made deemed to obligate the OWNER to make any repairs or restoration. OWNER reserves and excepts all rights to damages to the Annual Estimated Operating ExpensesPremises and Building and land on which it stands, and the leasehold hereby created, accruing by reason of exercise of eminent domain or by reason of anything done in pursuance of public or other authority. TENANT hereby grants to OWNER all TENANT's rights to such damages, except damages awarded to TENANT for TENANT's cost of moving stock and fixtures, and covenants to deliver such further assignments thereof as OWNER may from time to time request, and such other documents not imposing additional expense or obligation on TENANT as the taking authority may require.
Appears in 1 contract
Samples: Agreement (Call Points Inc)
Casualty and Taking. In case during the Term any substantial part of the Premises, or all or any substantial part of the Premises, Building, or Lot or any one or more of them, are are, in the reasonable judgment of Landlord’s architect, damaged materially by fire or any other cause, or by action of the public or other authority in consequence thereof or are taken by eminent domain domain, and this Lease is not otherwise terminated pursuant to Sections 7.3(c) or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority(d) below, then this Lease shall terminate at Landlord's either party’s election, which may be made, notwithstanding Landlord's ’s entire interest may have been divested, by notice given to Tenant the other party within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 thirty (30) nor more than 60 sixty (60) days after the date of notice of such termination. Such termination right may not be exercised by Landlord if the Premises are not damaged by such casualty or taking unless the leases of all other tenant’s of the Building are also terminated. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the PremisesPremises and/or the Building, oras applicable, or in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper substantially the condition for use and occupation immediately prior to the extent permitted by casualty, subject to applicable law, if the net award of insurance or damages available are adequate (but such limitation shall not apply if the Landlord failed to Landlord, and a maintain the insurance required hereunder). A just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury from and after the date of such casualty or taking shall be abated until the Premises Premises, all systems and access thereto, or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Landlord’s Operating ExpensesCosts.
Appears in 1 contract
Samples: Sublease Agreement (Demandware Inc)
Casualty and Taking. In case during the Term any substantial part of the Premises, or all or any substantial part of the Premises, Building, or Lot or any one or more of them, are are, in the reasonable judgment of Landlord’s architect, damaged materially by fire or any other cause, or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's ’s election, which may be made, notwithstanding Landlord's ’s entire interest may have been divested, by notice given to Tenant within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 thirty (30) nor more than 60 sixty (60) days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, or, or in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper substantially the condition for use and occupation immediately prior to the extent permitted by casualty, subject to applicable law and Landlord’s right to terminate this Lease (as above provided) if the net award of insurance or damages available to Landlordare adequate, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating ExpensesCosts.
Appears in 1 contract
Samples: Sublease (Demandware Inc)
Casualty and Taking. In case during the Term all or any substantial part of the Premises, BuildingBuilding or the Charxxx Xxxare Site, or Lot or any one or more of them, are (i) damaged materially by fire or any other cause, cause or by action of the public or other authority in consequence thereof or are (ii) taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authorityauthority and as a consequence all or any substantial part of the Premises, Building or Charxxx Xxxare Site are damaged materially, this Lease shall terminate at Landlord's election, which may be made, notwithstanding Landlord's entire interest may have been divested, by notice to Tenant within 30 days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 nor more than 60 days after the date of notice of such terminationtermination and a just proportion of the Annual Base Rent and additional rent according to the nature and extent of the injury and the effect on Tenaxx'x xse and enjoyment of the Premises shall be abated from and after the occurrence of the event giving rise to the election to terminate. If in any such case the Premises Premises, Building or the Charxxx Xxxare Site, are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, Building or the Charxxx Xxxare Site, or, in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper substantially the same condition for use and occupation that existed before such fire, casualty or taking to the extent permitted by the net award of insurance or damages available to Landlord, and a just proportion of the Annual Base Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises Premises, Building or the Charxxx Xxxare Site, or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, Building or Lot, a just proportion of the Annual Base Rent and additional rent shall be abated according to the nature and extent of the injury and the effect on Tenaxx'x xse and enjoyment of the Premises for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating Expenses. If in any such case the Lease is not so terminated and the Premises, Building or the Charxxx Xxxare Site (or in the case of a taking, at least 90 percent thereof) have not been put into proper condition for use and occupation within one year after the damage or taking occurs, or, in the reasonable judgment of Landxxxx'x xrchitect expressed within 60 days of such fire, casualty or taking, are not capable of being put into such condition within one year, this Lease shall terminate at Tenant's election, which may be made by notice to Landlord within ten (10) days after expiration of such year or within ten (10) days after notice that the damage cannot reasonably be repaired within one year, as the case may be, and shall be effective on the date such notice is given and all of Tenant's obligations hereunder shall then cease except to pay rent accrued prior to the termination, as such rent shall have been reduced pursuant to this Section on account of the damage or taking.
Appears in 1 contract
Samples: Global Decisions Group LLC
Casualty and Taking. In case during the Term all or any substantial part of the Premisesdemised premises, the Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authoritydomain, this Lease lease shall terminate at Landlord's election, which may be made, made notwithstanding Landlord's entire interest may have been divested, by notice given to Tenant within 30 thirty days after the occurrence of the event giving rise to the election to terminate. Said notice shall, which notice shall in the case of damage as aforesaid, specify the effective date of termination which shall be not less than 30 thirty nor more than 60 sixty days after the date of notice of such termination. In the case of any such taking by eminent domain, the effective date of the termination shall be the day on which the taking authority shall take possession of the taken property. Fixed Rent and additional rent shall be apportioned and adjusted as of the effective date of any such termination. If in any such case the Premises demised premises are rendered unfit for use and occupation and the Lease this lease is not so terminated, Landlord shall use due diligence to put the Premisesdemised premises, or, in the case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to removeremove from the demised premises at the expiration of the Term) into proper condition for use and occupation occupation, but Landlord shall not be required to the extent permitted by spend more than the net award proceeds of insurance or award of damages available to Landlordit receives therefor, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury to the demised premises shall be abated until the Premises demised premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premisesdemised premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment Term. Landlord agrees that if there shall be made damage or destruction by fire or casualty or by action of public or other authority or taking by eminent domain, and if this lease shall not be terminated as provided for herein, and if the demised premises shall not be repaired or restored within twelve (12) months from the receipt by Landlord of the insurance proceeds or awards therefore, Tenant shall have the right to terminate this lease by written notice to Landlord given within sixty (60) days following the Annual Estimated Operating Expenses.expiration of said twelve (12) month period; provided, however,
Appears in 1 contract
Samples: Lease (Net2000 Communications Inc)
Casualty and Taking. In case during the Term all or any substantial part of the Premises, Building, the Building or Lot or any one or more of them, them are totally or substantially damaged materially by fire or any other cause, cause or by action of the public or other authority in consequence thereof or are totally or substantially taken by eminent domain or Landlord receives compensable damage any similar taking by reason of anything lawfully done in pursuance of any public or other authority, authority this Lease shall terminate at Landlord's election, or Tenant's election which may be made, notwithstanding Landlord's entire interest may have been divested, made by notice given to Tenant the other within 30 days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination termination, which shall be not less than 30 nor more than 60 days after the date of notice of such termination. For purposes of the preceding sentence, the term "substantially" shall mean, with reference to any event, the Building, Lot and/or Premises cannot be restored to the condition existing prior to such event within 120 days of the date of such event, as reasonably determined by Landlord. Landlord's determination with respect to the matters set forth in the preceding sentence shall be communicated by notice to Tenant within 20 days following the event in question. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, Premises or, in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlord, and a just proportion of the Annual Fixed Rent and additional rent Additional Rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, Premises a just proportion of the Annual Fixed Rent and additional rent Additional Rent shall be abated for the remainder of the Term term and an appropriate adjustment shall be made to the Annual Estimated Operating Expenses.
Appears in 1 contract
Samples: Lease Agreement (Corporate Realty Income Fund I L P)
Casualty and Taking. In case during the Term any substantial part of the Premises, or all or any substantial part of the Premises, Building, or Lot or any one or more of them, are are, in the reasonable judgment of Landlord’s architect, damaged materially by fire or any other cause, or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authoritydomain, this Lease shall terminate at Landlord's ’s election, which may be made, notwithstanding Landlord's ’s entire interest may have been divested, by notice given to Tenant within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 thirty (30) nor more than 60 sixty (60) days after the date of notice of such termination. Such termination right may not be exercised if the Premises are not damaged by such casualty or taking unless the leases of all other tenant’s of the Building are also terminated. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the PremisesPremises and/or the Building, oras applicable, or in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper substantially the condition for use and occupation immediately prior to the extent permitted by casualty, subject to applicable law, if the net award of insurance or damages available are adequate (but such limitation shall not apply if the Landlord failed to Landlord, and a maintain the insurance required hereunder). A just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury from and after the date of such casualty or taking shall be abated until the Premises Premises, all systems and access thereto, or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Base Operating ExpensesCosts.
Appears in 1 contract
Samples: Lease (Demandware Inc)
Casualty and Taking. In case during the Term all or any substantial part of the Premises, Building, or Lot or any one or more of them, are damaged materially by fire or any other cause, or by action of the public or other authority in consequence thereof thereof, or are taken by eminent domain or domain, and the condition of the Premises cannot be restored within 6 months of such event, Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, shall have the right to terminate this Lease shall terminate at Landlord's election, which may be made, notwithstanding Landlord's entire interest may have been divestedLease, by notice to Tenant within 30 days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 nor more than 60 days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Landlord does not terminate this Lease is not terminatedas provided above, Landlord shall use due diligence to put restore the Premises, or, in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlord, and a just proportion of the Annual Base Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put restored by Landlord in to such condition; and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Base Rent and additional rent shall be abated for the remainder of the Term. In case during the Term (i) all or any substantial part of the Premises are damaged materially by fire or any other cause, or by action of public or other authority in consequence thereof, or are taken by eminent domain, (ii) Landlord does not elect to terminate this Lease as provided for in this Section 7.1 and an appropriate adjustment (iii) either (a) such damage or taking occurs during the last year of the Lease Term or (b) Landlord does not restore the Premises within 180 days of such event, Tenant shall be made have the right to terminate this Lease, by notice to Landlord within 30 days after the occurrence of the event giving rise to the Annual Estimated Operating Expenseselection to terminate.
Appears in 1 contract
Samples: Lease (Leslies Poolmart Inc)
Casualty and Taking. a. In case during the Term all or any substantial part of the Premises, the Building, or Lot or any one (1) or more of them, are damaged materially by fire or any other cause, cause or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's ’s or Tenant’s election, which may be made, notwithstanding Landlord's entire interest may have been divested, made to the other party by giving written notice to Tenant within 30 thirty (30) days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 thirty (30) nor more than 60 sixty (60) days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not so terminated, Landlord shall use due diligence to put the Premises, or, or in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the standard that existed immediately preceding such damage or taking to the extent permitted by the net award of insurance or damages available to Landlorddamages, and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking or any other aforementioned cause which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating ExpensesCosts For the Building.
Appears in 1 contract
Samples: Lease Agreement (Sonus Networks Inc)
Casualty and Taking. In case during the Term all Premises or Building, or any substantial part thereof, shall be taken by any exercise of the Premises, Building, right of eminent domain or Lot shall be destroyed or any one or more of them, are materially damaged materially by fire or any other cause, casualty or by action of the public or other authority in consequence thereof or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of any public or other authority, or shall suffer any material direct or consequential damage for which Landlord and Tenant, or either of them, shall be entitled to compensation by reason of anything done in pursuance of any public or other authority during this Lease or any extension hereof, then this Lease shall terminate at the election of Landlord's election, which election may be made, made notwithstanding that Landlord's entire interest may have been divested; and if Landlord shall not so elect, by notice then Landlord shall, subject to the availability of insurance proceeds or condemnation award, undertake with reasonable diligence to restore the Premises (or in case of a partial taking what may remain thereof) to a condition similar to that in which the Premises were originally delivered to Tenant within 30 days after for its work prior to the occurrence Term Commencement Date; and if such taking, destruction or damage shall have rendered a portion of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not less than 30 nor more than 60 days after the date of notice of such termination. If in any such case the Premises are rendered unfit for use and occupation and the Lease is not terminatedoccupation, Landlord shall use due diligence to put the Premises, or, in case of a taking, what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlord, and a just proportion of the Annual Rent and additional rent payable by Tenant hereunder according to the nature and extent of the injury shall be abated until the Premises (or such remainder in the case of a partial taking what may remain thereof) shall have been put restored to such condition for Tenant's Work. Tenant shall thereupon promptly perform such work upon the Premises as shall be necessary to prepare them for its use, in the same manner and subject to the same condition and to Landlord's approvals as if the same were Tenant's original work performed pursuant to Article IV, and shall reopen for business in the Premises as promptly as reasonably possible. Except for any award for personal property or relocation award specifically allocated or payable directly to Tenant, Landlord reserves and excepts all rights to damages to the Premises and Building and the leasehold hereby created, now accrued or hereafter accruing by Landlord reason of anything lawfully done in such conditionpursuance of any public or other authority; and in case by way of a taking confirmation, Tenant grants to Landlord all Tenant's rights to such damages and covenants to execute and deliver such further instruments of assignment thereof as Landlord may from time to time reasonably request. Landlord shall give Tenant notice of its decision to terminate this Lease or restore the Premises within thirty (30) days after any occurrence giving rise to Landlord's right to so terminate or restore. In the event Landlord elects to restore the Premises as aforesaid, Tenant may terminate this Lease if Landlord does not restore the Premises (not requiring restoration of Tenant's leasehold improvements, personal property and fixtures) within ninety (90) days after Landlord's election to restore (plus not exceeding an additional ninety (90) days on account of contractor or subcontractor delay, strike or other cause beyond Landlord's reasonable control) to substantially the same condition as prior to the occurrence entitling termination, which permanently reduces notice of termination by Tenant must be within fifteen (15) days after the area lapse of the Premises, a just proportion of the Annual Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating Expensesherein above designated restoration period.
Appears in 1 contract