Common use of Casualty Damage Clause in Contracts

Casualty Damage. Landlord, by notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 2 contracts

Samples: Office Lease Agreement (Conatus Pharmaceuticals Inc), Office Lease Agreement (Conatus Pharmaceuticals Inc)

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Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days of the date of the fire or other casualty that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”whether or not the Premises shall have been damaged by such fire or other casualty), shall have the right to terminate Landlord may, at its option, tcrininate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of such damage, in which event the CasualtyRent shall be abated as of the date of such damage. If Landlord does not elect to tenninate this Lease is not terminatedLease, and provided insurance proceeds and any contributions from Tenant, if necessary, are available to fully repair the damage, Landlord shall promptly within one hundred twenty (120) days after the date of such damage commence to repair and diligently restore the Premises. Such restoration Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhapging, except for modifications required by Law. Howeverof the casualty; provided, in no event Landlord shall Landlord not be required to spend more than the insurance proceeds received rebuild, repair, or replace any part t Tc, ant's furniture, furnishings, fixtures and/or equipment removable by Landlord. Upon notice from LandlordTenant or ally improvements, Tenant shall assign alterations or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed additions installed by or for the benefit of Tenant; provided if Tenant under the estimated cost provisions of this Lease. Landlord shall not in any event be required to repair spend for such Leasehold Improvements exceeds work all amount in excess of the amount of insurance proceeds (excluding any deductible) and any contributions from Tenant, if necessary, actually received by Landlord from Tenant’s insurance carrier, the excess cost as a result of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsdie fire or other casualty. Landlord shall not be liable for any ally inconvenience or annoyance to Tenant, or injury to the business of Tenant’s business, loss of use of any part of the Premises by the Tenant or loss of Tenant's personal propeny resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in DefaultNotwithstanding anything to the contrary contained herein, during if die Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the intentional or negligent acts or omissions of a CasualtyTenant or any of Tenant's Representatives, (i) the Rent shall xxxxx not be diminished during the repair of such damage, (ii) Tenant shall not have any right to terminate this Lease due to the occurrence of such casualty or damage, and (iii) Tenant shall be liable to Landlord for the cost and expense of the repair and restoration of all or any portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, Building caused thereby (including, without limitation, any deductible) to the extent such cost and expense is not covered by insurance proceeds. In die event the holder of any indebtedness secured by the Premises requires that the insurance proceeds be applied to such indebtedness, then Landlord shall have die right to terminate this Lease by delivering written notice of termination to Tenant within thirty (30) days after the date of notice to Tenant of any such event, whereupon all rights and obligations shall cease and terminate hereunder except for those obligations expressly intended to survive any such termination of this [.me. Except as otherwise provided in this Section 27, Tenant hereby waives the provisions of Sections 1932(2) .), 1933(4.), 1941 and 1933(4) 1942 of the die California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 2 contracts

Samples: Lease Agreement (Competitive Companies Inc), Lease Agreement (Third Enterprise Service Group Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedcasualty, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined in Article 25), in no event any other modifications to the common areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under any separate agreement signed by the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof (unless Tenant or its employees or agents caused the damage). Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period if the Property shall be materially damaged by Tenant or its employees or agents, or if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within 120 days after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than 25% of the Premises is rendered untenantable as a result of a Casualtyaffected by the damage, and fewer than 24 months remain in the Rent shall xxxxx for Term, or any material damage occurs to the portion Premises during the last 12 months of the Premises Term, (c) any Holder (as defined in Article 25) shall require that is untenantable and not the insurance proceeds or any portion thereof be used by Tenant. The provisions of this Leaseto retire the Mortgage debt (or shall terminate the ground lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage toas the case may be), or destruction ofthe damage is not fully covered by Landlord's insurance policies, all or any part (d) the cost of the Premisesrepairs, alterations, restoration or improvement work would exceed 25% of the replacement value of the Building, the Property or the Projectnature of such work would make termination of this Lease necessary or convenient. Tenant agrees that Landlord's obligation to restore, and any Lawsthe abatement of Rent provided herein, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall be Tenant's sole recourse in the absence event of an express such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. Tenant acknowledges that this Article represents the entire agreement between the parties, and any similar parties respecting damage to the Premises or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 2 contracts

Samples: Office Lease (Interactive Flight Technologies Inc), Agreement (National Financial Partners Corp)

Casualty Damage. LandlordWith reasonable promptness after discovering any damage to the Premises, by notice or to Tenant within 60 days of the date of Common Areas necessary for access to the Premises, resulting from any fire or other casualty (a “Casualty”), Landlord shall have notify Tenant of Landlord’s reasonable estimate of the right time required to substantially complete repair of such damage (the “Landlord Repairs”). If, according to such estimate, the Landlord Repairs cannot be substantially completed within 180 days after they are commenced, either party may terminate this Lease if all upon 60 days’ notice to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering any damage to the Project resulting from any Casualty, Landlord may, whether or any part of not the Premises is damaged affected, terminate this Lease by notifying Tenant if (i) any Security Holder terminates any ground lease or requires that any insurance proceeds be used to pay any mortgage debt; (ii) any damage to Landlord’s property is not substantially covered by Landlord’s insurance policies; (iii) Landlord decides to rebuild the extent Building or Common Areas so that it cannot reasonably or they will be repaired within 120 days after substantially different structurally or architecturally; (iv) the date damage occurs during the last 12 months of the CasualtyTerm; or (v) any owner, other than Landlord, of any damaged portion of the Project does not intend to repair such damage. If this Lease is not terminatedterminated pursuant to this Section 11, Landlord shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of Force Majeure. The Landlord Repairs shall restore the Premises. Such restoration shall be Premises and the Common Areas necessary for access to the Premises to substantially the same condition that existed prior to when the CasualtyCasualty occurred, except for (a) any modifications required by Law. HoweverLaw or any Security Holder, in no event shall Landlord be required and (b) any modifications to spend more than the insurance proceeds received Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair access to the Premises. Upon notice from LandlordNotwithstanding Section 10.4, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlordits designee) all property insurance proceeds payable to Tenant under Tenant’s Insurance insurance required under Section 10.2 with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided -Insured Improvements, and if the estimated or actual cost to repair such Leasehold of restoring any Tenant-Insured Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the Tenant shall pay such excess cost of such repairs shall be paid by Tenant to Landlord prior to within 15 days after Landlord’s commencement of repairsdemand. Within 15 days of demand, Tenant No Casualty and no restoration performed as required hereunder shall also pay render Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, constitute a constructive eviction, or injury to excuse Tenant from any obligation hereunder; provided, however, that if the Premises or any Common Area necessary for Tenant’s businessaccess to the Premises is damaged by a Casualty, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Defaultthen, during any period time that, as a result of time that all or a material such damage, any portion of the Premises is rendered untenantable as a result of a Casualtyor inaccessible and is not occupied by Tenant, the Monthly Rent shall xxxxx for be abated in proportion to the rentable square footage of such portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 2 contracts

Samples: Office Lease (NeuroSigma, Inc.), Office Lease (NeuroSigma, Inc.)

Casualty Damage. Landlord, by notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building or the Project shall be damaged so that, in Landlord’s reasonable judgment, substantial alteration or reconstruction of the Building or the Project shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than eighteen (18) months of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the extent that it cannot reasonably be repaired payment of the mortgage debt; or (5) a material uninsured loss to the Building or the Project occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 120 90 days after the date of the Casualtycasualty. If Landlord does not terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to repair and restore the Premises. Such restoration shall be to substantially Building and the same condition Premises Improvements (excluding any Alterations that existed prior to the Casualty, except for modifications required were performed by LawTenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, loss or injury damage to Tenant’s business, Property or to the business of Tenant resulting in any way from the Casualty fire or other casualty or from the repair thereofand restoration of the damage. Provided Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease. Tenant is not in Default, during any period of time that all or shall have the right to terminate this Lease i 1: (a) a material substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired (as reasonably determined by Landlord) within 60 days after Landlord’s receipt of all required permits to restore the Premises; (b) there is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion less than eighteen (18) months of the Premises that is untenantable Term remaining on the date of such casualty; and not used by Tenant. The provisions (c) Tenant provides Landlord with written notice of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect its intent to any and all damage to, or destruction of, all or any part terminate within thirty (30) days after the date of the Premises, the Building, the Property fire or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyother casualty.

Appears in 2 contracts

Samples: Office Lease Agreement (GoPro, Inc.), Office Lease Agreement (GoPro, Inc.)

Casualty Damage. Tenant shall maintain sufficient insurance on the Building in its reasonable discretion for casualty damage. If: (a) the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s opinion, be required (whether or not the Premises shall have been damaged by the casualty); or (b) the Premises shall be partially damaged by casualty during the last one year of the Lease Term, and the estimated cost of repair exceeds 25% of the Base Rent then remaining to be paid by Tenant for the balance of the Lease Term; Landlord may, within 90 days after the casualty, give notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right Landlord’s election to terminate this Lease if all or any part Lease, and the balance of the Premises is damaged to Lease Term shall automatically expire on the extent that it cannot reasonably be repaired within 120 days fifth day after the date of the Casualtynotice is delivered. If Landlord does not elect to terminate this Lease is not terminatedLease, Landlord shall promptly and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building and the Premises to substantially the same condition that existed prior to they were in immediately before the Casualty, except for modifications required by Lawhappening of the casualty. However, in no event Landlord shall Landlord not be required to spend more than restore any unleased premises in the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign Building or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under portion of Tenant’s Insurance with respect property. Rent shall xxxxx in proportion to the portion of the Premises not useable by Tenant as a result of any Leasehold Improvements performed casualty covered by insurance carried or for the benefit of Tenant; provided if the estimated cost required to repair such Leasehold Improvements exceeds the amount of insurance proceeds received be carried by Landlord from Tenant’s insurance carrierunder this Lease, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance as of the repairsdate on which the Premises becomes unusable. Landlord shall not otherwise be liable to Tenant for any delay in restoring the Premises or any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, business resulting in any way from the Casualty damage or the repair thereof. Provided that Tenant is not in Defaultrepairs, during any period Tenant’s sole remedy being the right to an abatement of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyRent.

Appears in 2 contracts

Samples: Lease Agreement (Protective Products of America, Inc.), Lease Agreement (Protective Products of America, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that, in Landlord's good faith estimation, the time required to repair and reconstruct the Building shall exceed one hundred eighty (180) days from the date of the casualty (whether or not the Premises shall have been damaged by notice such casualty), or in the event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material loss to the Building that would not be covered by fire and extended coverage insurance commonly carried for commercial properties such as the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within 60 sixty (60) days of the date of the fire or other casualty (a “Casualty”), shall have the right casualty. If Landlord does not thus elect to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications required by Law. However, in no event that Landlord shall Landlord not be required to spend more than for such work an amount in excess of the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds actually received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance as a result of the repairscasualty. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a proportional diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 2 contracts

Samples: Sublease Agreement (Landacorp Inc), Sublease Agreement (Landa Management Systems Corp)

Casualty Damage. If the Leased Premises shall be destroyed or damaged by fire or any other casualty, Tenant shall immediately give notice thereof to Landlord, . If the Leased Premises shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty insured casualty, so as to render the Leased Premises or access thereto untenantable in whole or in part and to such an extent that Landlord determines that such damage can be repaired with the application of reasonable diligence within two hundred forty (a “Casualty”)240) days, Tenant shall have the right each be entitled to terminate this Lease if whereupon all or any part of the Premises is damaged rent accrued up to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost time of such repairs casualty shall be paid by Tenant to Landlord prior to Landlord’s commencement . If the Leased Premises or access thereto, shall be destroyed or damaged by fire or any other casualty, and if the Leased Premises are rendered untenantable in whole or in part by reason of repairs. Within 15 days of demandsuch casualty, then Tenant shall also pay Landlord be entitled to a fair diminution of the rent hereunder from the time of such casualty until such time as the Leased Premises are made tenantable as reasonably determined by Landlord. In addition to the foregoing, if for any additional excess costs cause the Leased Premises or Building shall be so damaged that are determined during the performance of the repairs. Landlord shall in its sole judgment decide not be liable for any inconvenience to rebuild, then by notice in writing to Tenant, this Lease shall forthwith terminate and all rent owed up to the time of such casualty as set forth in such notice shall be paid by Tenant to Landlord. In no event shall Landlord have any obligation to repair or injury to restore any of Tenant’s businessgoods, resulting Trade Fixtures, furniture or other property placed in any way from or incorporated in the Casualty Leased Premises which is destroyed or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used damaged by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all fire or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyother casualty.

Appears in 2 contracts

Samples: Lease Agreement (Entrada Therapeutics, Inc.), Lease Agreement (Entrada Therapeutics, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged by fire or other casualty that (i) substantial alteration or reconstruction of the Building shall, in the judgment of an independent architect selected by Landlord, be required (whether or not the Premises shall have been damaged by notice such fire or other casualty) such that that the Building cannot be substantially restored to the condition which existed immediately prior to the damage or destruction within twenty-four (24) months after the fire or other casualty, or (ii) in the event any mortgagee under a first mortgage or first deed of trust covering the Building should require that the insurance proceeds payable as a result of said fire or other casualty be used to retire the mortgage debt, or (iii) in the event of the occurrence of a casualty which is not insured under the insurance required to be carried by Landlord pursuant to the terms of Section 20, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within 60 fifteen (15) days after the date of Landlord’s receipt of the estimated cost of reconstruction or determination by a mortgagee to take the proceeds in which event the Rent hereunder shall be abated as of the date of such damage. If Landlord does not elect to terminate this Lease, Landlord shall, as soon as practicable, but no more than ninety (90) days after the date of such damage, commence to repair and restore the Building and shall proceed with reasonable diligence to restore the Building to substantially the same condition which it was in immediately prior to the occurrence of the fire or other casualty casualty, except that Landlord shall not be required to rebuild, repair, or replace any part of Tenant’s furniture, fixtures and equipment removable by Tenant under the provisions of this Lease or any Alterations to the Premises made by Tenant following the earliest Commencement Date pursuant to the terms of this Lease which were not approved by Landlord in writing, and Landlord shall not in any event be required to spend for such work an amount in excess of the insurance proceeds actually received by Landlord as a result of the fire or other casualty, plus any deductible amounts thereunder. If Landlord determines that insurance proceeds will be insufficient to restore the Building as required by this Section 23, Landlord may, at its option, elect to either (a “Casualty”), shall have the right to 1) terminate this Lease if all by written notice to Tenant, or (2) provide the extra funds necessary to complete the restoration. In the event Landlord did not originally construct any part Alterations to be repaired, the time for Landlord to commence and complete such repairs shall be extended by the amount of time necessary for Landlord to obtain detailed working drawings of the Premises is damaged Alterations to be repaired. In the event Landlord does not either commence the repairs to the extent that it cannot reasonably be repaired Building within 120 the time required herein, or complete the repairs to the Building within two hundred seventy (270) days after the date of the Casualty. If such damage, Tenant may terminate this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon written notice from Landlord, Tenant shall assign or endorse over thereof to Landlord given no later than thirty (30) days following the date on which Landlord was to commence or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for complete such repairs, as the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairscase may be. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant an equitable abatement of Rent during the time and to the extent the Premises are unfit for occupancy and are vacated by Tenant. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Complex is rendered untenantable as a result damaged by fire or other casualty resulting from the intentional acts of a CasualtyTenant or any employee, officer, contractor, agent, subtenant, or licensee of Tenant, the Rent hereunder shall xxxxx not be abated during the repair of such damage, and Tenant shall remain liable for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertypayment thereof.

Appears in 2 contracts

Samples: Office Lease Agreement, Office Lease Agreement (FSP 50 South Tenth Street Corp)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (whether or not the Premises shall have been damaged by notice to Tenant within 60 days such casualty) or in the event the Premises have been damaged and there is less than two (2) years of the Lease Term remaining on the date of such casualty or in the fire event any Mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or other casualty (a “Casualty”)in the event of any material uninsured loss to the Building, shall have the right to Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of such casualty. Such termination shall be effective as of the Casualtydate of fire or casualty, with respect to any portion of the Premises that was rendered untenantable, and the date specified in Landlord's notice, with respect to any portion of the Premises that remained tenantable. If Landlord does not elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building (provided that Landlord shall not be required to restore any unleased premises in the Building) and the Leasehold Improvements (but excluding any improvements, alterations or additions made by Tenant in violation of this Lease) located within the Premises. Such restoration shall be , if any, which Landlord has insured to substantially the same condition that existed they were in immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Building, and the Leasehold Improvements, if any, shall not require Landlord to expend for modifications required by Law. However, in no event shall Landlord be required to spend such repair and restoration work more than the insurance proceeds actually received by Landlordthe Landlord as a result of the casualty. Upon notice from When repairs to the Premises have been completed by Landlord, Tenant shall assign complete the restoration or endorse over replacement of all Tenant's Property necessary to permit Tenant's reoccupancy of the Premises, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost 's ability to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent on a per diem basis during the time and to the extent the Premises are untenantable. Provided that If the Premises or any other portion of the Building is damaged by fire or other casualty resulting from the fault or negligence of Tenant is or any of Tenant's agents, employees, or contractors, the Rent hereunder shall not in Default, be diminished during any period during which the Premises, or any portion thereof, is untenantable, and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds. Landlord and Tenant hereby waive the provisions of any law from time to time in effect during the Lease Term relating to the effect upon leases of partial or total destruction of leased property. Landlord and Tenant agree that all their respective rights in the event of any damage to or a material portion destruction of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertybe those specifically set forth herein.

Appears in 2 contracts

Samples: Office Lease Agreement (Tenera Inc), Office Lease Agreement (Long Beach Holdings Corp)

Casualty Damage. LandlordWith reasonable promptness after discovering any damage to the Premises, by notice or to Tenant within 60 days of the date of Common Areas necessary for access to the Premises, resulting from any fire or other casualty (a “Casualty”), Landlord shall have notify Tenant of Landlord’s reasonable estimate of the right time required to substantially complete repair of such damage (the “Landlord Repairs”). If, according to such estimate, the Landlord Repairs cannot be substantially completed within 210 days after they are commenced, either party may terminate this Lease if all upon 60 days’ notice to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering any damage to the Project resulting from any Casualty, Landlord may, whether or any part of not the Premises is damaged affected, terminate this Lease by notifying Tenant if (i) any Security Holder terminates any ground lease or requires that any insurance proceeds be used to pay any mortgage debt; (ii) any damage to Landlord’s property is not fully covered by Landlord’s insurance policies; (iii) Landlord decides to rebuild the extent Building or Common Areas so that it or they will be substantially different structurally or architecturally; (iv) the damage occurs during the last 12 months of the Term; or (v) any owner, other than Landlord, of any damaged portion of the Project does not intend to repair such damage. Tenant may terminate this Lease, by notifying Landlord within 30 days after receiving Landlord’s estimate of the time required to substantially complete the Landlord Repairs, if (a) the Casualty has occurred during the last 12 months of the Term and has damaged a material portion of the Premises, and (b) such estimate indicates that the damage cannot reasonably be repaired within 120 60 days after the date Tenant’s receipt of the Casualtysuch estimate. If this Lease is not terminatedterminated pursuant to this Section 11, Landlord shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of Force Majeure. The Landlord Repairs shall restore the Premises. Such restoration shall be Premises and the Common Areas necessary for access to the Premises to substantially the same condition that existed prior to when the CasualtyCasualty occurred, except for (a) any modifications required by Law. HoweverLaw or any Security Holder, in no event shall Landlord be required and (b) any modifications to spend more than the insurance proceeds received Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair access to the Premises. Upon notice from LandlordNotwithstanding Section 10.4, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlordits designee) all property insurance proceeds payable to Tenant under Tenant’s Insurance insurance required under Section 10.2 with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided -Insured Improvements, and if the estimated or actual cost to repair such Leasehold of restoring any Tenant-Insured Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the Tenant shall pay such excess cost of such repairs shall be paid by Tenant to Landlord prior to within 30 days after Landlord’s commencement of repairsdemand. Within 15 days of demand, Tenant No Casualty and no restoration performed as required hereunder shall also pay render Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, constitute a constructive eviction, or injury to excuse Tenant from any obligation hereunder; provided, however, that if the Premises or any Common Area necessary for Tenant’s businessaccess to the Premises is damaged by a Casualty, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Defaultthen, during any period time that, as a result of time that all or a material such damage, any portion of the Premises is rendered untenantable as a result of a Casualtyfor the Permitted Use or inaccessible and is not occupied by Tenant, the Monthly Rent shall xxxxx for be abated in proportion to the rentable square footage of such portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 2 contracts

Samples: Office Lease (Extend Health Inc), Office Lease (Extend Health Inc)

Casualty Damage. LandlordWith reasonable promptness after discovering any damage to the Premises, by notice or to Tenant within 60 days of the date of Common Areas necessary for access to the Premises, resulting from any fire or other casualty (a “Casualty”), Landlord shall have notify Tenant of Landlord’s reasonable estimate of the right time required to substantially complete repair of such damage (the “Landlord Repairs”). If, according to such estimate, the Landlord Repairs cannot be substantially completed within 270 days after commencement, either party may terminate this Lease if all upon 60 days’ notice to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering any damage to the Project resulting from any Casualty, Landlord may, whether or any part of not the Premises is damaged affected, terminate this Lease by notifying Tenant if (i) any Security Holder terminates any ground lease or requires that any insurance proceeds be used to pay any mortgage debt; (ii) any damage to Landlord’s property is not fully covered by Landlord’s insurance policies; (iii) the extent that it cannot reasonably be repaired within 120 days after damage occurs during the date last 12 months of the CasualtyTerm; or (iv) any owner, other than Landlord, of any damaged portion of the Project does not intend to repair such damage. If this Lease is not terminatedterminated pursuant to this Section 11, Landlord shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of Force Majeure. The Landlord Repairs shall restore the Premises. Such restoration shall be Premises and the Common Areas necessary for access to the Premises to substantially the same condition that existed prior to when the CasualtyCasualty occurred, except for (a) any modifications required by Law. HoweverLaw or any Security Holder, in no event shall Landlord be required and (b) any modifications to spend more than the insurance proceeds received Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair access to the Premises. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlordits designee) all property insurance proceeds payable to Tenant under Tenant’s Insurance insurance required under Section 10.2 with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if -Insured Improvements. If the estimated or actual cost to repair such Leasehold of restoring any Tenant-Insured Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the Tenant shall pay such excess cost of such repairs shall be paid by Tenant to Landlord prior to within 15 days after Landlord’s commencement of repairsdemand. Within 15 days of demand, Tenant No Casualty and no restoration performed as required hereunder shall also pay render Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, constitute a constructive eviction, or injury to excuse Tenant from any obligation hereunder; provided, however, that if the Premises or any Common Area necessary for Tenant’s businessaccess to the Premises is damaged by a Casualty, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Defaultthen, during any period time that, as a result of time that all or a material such damage, any portion of the Premises is rendered untenantable as a result of a Casualtyor inaccessible and is not occupied by Tenant, the Monthly Rent shall xxxxx for be abated in proportion to the rentable square footage of such portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 2 contracts

Samples: Office Lease (Cardiodx Inc), Office Lease (Cardiodx Inc)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged by fire or other casualty that substantial alteration or reconstruction of the Building shall, in the judgment of an independent architect selected by Landlord, be required (whether or not the Premises shall have been damaged by notice such fire or other casualty), or in the event any mortgagee under a first mortgage or first deed of trust covering the Building should require that the insurance proceeds payable as a result of said fire or other casualty be used to retire the mortgage debt, or in the event of the occurrence of a casualty which is not insured under the “all risk” extended coverage insurance required to be carried by Landlord pursuant to the terms of Section 20, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within 60 fifteen (15) days after the date of Landlord’s receipt of the estimated cost of reconstruction or determination by a mortgagee to take the proceeds, in which event the Rent hereunder shall be abated as of the date of such damage. If Landlord does not elect to terminate this Lease, Landlord shall, as soon as practicable, but no more than ninety (90) days after the date of such damage, commence to repair and restore the Building and shall proceed with reasonable diligence to restore the Building to substantially the same condition which it was in immediately prior to the occurrence of the fire or other casualty casualty, except that Landlord shall not be required to rebuild, repair, or replace any part of Tenant’s furniture, fixtures and equipment removable by Tenant under the provisions of this Lease or any Alterations to the Premises made by Tenant following the Commencement Date which were not approved by Landlord in writing, and Landlord shall not in any event be required to spend for such work an amount in excess of the insurance proceeds actually received by Landlord as a result of the fire or other casualty, plus any deductible amounts thereunder. If Landlord determines that insurance proceeds will be insufficient to restore the Building as required by this Section 24, Landlord may, at its option, elect to either (a “Casualty”), shall have the right to 1) terminate this Lease if all by written notice to Tenant, or (2) provide the extra funds necessary to complete the restoration. In the event Landlord did not originally construct any part Alterations to be repaired, the time for Landlord to commence and complete such repairs shall be extended by the amount of time necessary for Landlord to obtain detailed working drawings of the Premises is damaged Alterations to be repaired. In the event Landlord does not either commence the repairs to the extent that it cannot reasonably be repaired Building within 120 the time required herein, or complete the repairs to the Building within two hundred seventy (270) days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlordsuch damage, Tenant shall assign or endorse over may terminate the Lease by written notice thereof to Landlord given no later than thirty (30) days following the date on which Landlord was to commence or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for complete such repairs, as the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairscase may be. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant an equitable abatement of Rent during the time and to the extent the Premises are unfit for occupancy and vacated by Tenant. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Project is rendered untenantable as a result damaged by fire or other casualty resulting from the intentional acts of a CasualtyTenant or any employee, officer, contractor, agent, subtenant, or licensee of Tenant, the Rent hereunder shall xxxxx not be abated during the repair of such damage, and Tenant shall remain liable for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertypayment thereof.

Appears in 2 contracts

Samples: Office Lease Agreement, Office Lease Agreement (Masergy Communications Inc)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s reasonable exercise of its business opinion as supported by documentation by a certified architect and delivered to Tenant, take more than 180 days to complete (a “Casualty”whether or not the Premises shall have been damaged by such casualty), shall have or in the right event there is less than two (2) years of the Lease Term remaining, or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material uninsured loss to the Building, either Landlord or Tenant may, at its respective option, terminate this Lease if all or any part by notifying the other in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If this Lease is not terminatedLandlord determines that any such damage shall take less than 180 days to complete, upon Tenant’ reasonable request, Landlord shall promptly furnish Tenant with supporting documentation from a certified architect. If neither Landlord nor Tenant so elects to terminate this Lease, Landlord shall commence (no later than sixty (60) days following the casualty) and diligently proceed with diligence to restore the Premises. Such restoration shall be Building, and the improvements located within the Premises to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord’s obligation to restore the Building, and the improvements located within the Premises shall not require Landlord to expend for modifications required by Law. However, in no event shall Landlord be required to spend such repair and restoration work more than the insurance proceeds actually received by Landlord. Upon notice from Landlord as a result of the casualty; provided that Landlord shall have complied with the insurance requirements and limits set forth in Section 13A. When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) complete the restoration of all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect Property which are necessary to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from permit Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance reoccupancy of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided , except that Tenant is not in Default, during any period of time that all or a material portion Rent shall be abated from the date of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx damage or destruction for the any portion of the Premises that is untenantable unusable by Tenant (including without limitation if the Premises is not itself damaged, but the Building has suffered damage making access to and not used use of the Premises impracticable), which abatement shall be in the same proportion that the Rentable Area of the Premises which is unusable (or such use is so rendered impracticable) by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect bears to any and all damage to, or destruction of, all or any part the total Rentable Area of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect ; provided that Tenant shall not be entitled to any rights or obligations concerning abatement of Rent if the damage or destruction in within the absence Premises is restored within five (5) Business Days after Landlord’s receipt of an express agreement between written notice from Tenant of the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any occurrence of the damage or destruction to all or any part of the Premises, the Building or the Propertydestruction.

Appears in 2 contracts

Samples: Office Lease (Voyager Learning CO), Office Lease (Proquest Co)

Casualty Damage. LandlordIn the event twenty-five percent (25%) or less of the Building shall be destroyed or rendered untenantable, either wholly or in part, by notice fire or other casualty, and the Premises shall be unaffected, then Landlord shall restore the Building to Tenant within 60 days as near its previous condition as is reasonably possible, provided that sufficient insurance proceeds are available to Landlord to pay the cost of restoration, and provided further that if the date of Premises are unaffected by the fire or other casualty (a “Casualty”)casualty, Landlord shall have the no right to terminate this Lease if all Lease. In the event more than twenty-five percent (25%) of the Building or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, Landlord may, at its option, restore the Building or Premises to as near their previous condition as is rendered untenantable as a result of a Casualty, reasonably possible and in the meantime the Rent shall xxxxx for be abated in the same proportion as the untenantable portion of the Premises that is bears to the whole thereof, provided, such abatement shall apply only to the extent the Premises are untenantable for the purposes permitted under this Lease and not used by TenantTenant as a result thereof. The provisions Except as provided above, unless Landlord, within twenty (20) days after the receipt of insurance proceeds on account of the casualty, shall notify Tenant of its election to so restore, this LeaseLease shall thereupon terminate and end, including this Section 15provided, constitute an express agreement between if in Landlord’s reasonable estimation the Premises cannot be restored within one hundred eighty (180) days following such destruction, Landlord shall notify Tenant and Tenant with respect may terminate this Lease (regardless of Landlord’s intent to any and all damage torestore) by delivery of notice to Landlord within thirty (30) days of Landlord’s notice. Such restoration by Landlord shall not include replacement of furniture, equipment, or destruction of, all or any other items that do not become part of the Premises, Building or any improvements to the Building, Premises in excess of those provided for in the Property or allowance for building standard items. Tenant agrees that the Projectabatement of Rent as provided above shall be Tenant’s sole and exclusive recourse in the event of such damage, and Tenant waives any Laws, including, without limitation, Sections 1932(2) and 1933(4) other rights Tenant may have under applicable Law to perform repairs or terminate the Lease by reason of the California Civil Code, with respect damage to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyPremises.

Appears in 2 contracts

Samples: Lease (Trupanion Inc.), Lease (Trupanion Inc.)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event any mortgagee of Landlord should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by Landlord_____ Tenant_____ notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 days FORTY-FIVE (45) DAYS after the date of the Casualtysuch damage. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications that Landlord's obligation to restore shall not exceed the scope of work required to be done by Law. HoweverLandlord in originally constructing the Building and installing shell improvements in the Premises, in no event nor shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLandlord as a result of the casualty. Upon notice from When the Shell Improvements have been restored by Landlord, Tenant shall assign or endorse over complete the restoration of the Premises to Building Standard and the restoration of Tenant's furniture and equipment. Landlord shall provide Tenant with an allowance (hereinafter referred to as the "Reconstruction Allowance") to pay for reconstruction of the Premises to Building Standard, such Reconstruction Allowance to be in dollar amount equal to the actual original cost to Landlord (or to any party designated of providing the Allowance Items provided by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold . Except for reconstruction of Shell Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrierand the Reconstruction Allowance, all cost and expense of reconstructing the excess cost of such repairs Premises to Building Standard shall be paid borne by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsTenant. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, unless such losses or damages are the result of the negligence or misconduct of Landlord, its agents, contractors, or employees. Provided that Landlord shall allow Tenant is not in Default, a fair diminution of Rent [the calculation directly related to the percentage usable following casualty event] during the time and to the extent the Premises are unfit for occupancy. If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, employees, or invitees, the Rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Office Lease (State Communications Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined in Article 24), in no event any other modifications to the common areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under any separate agreement signed by the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof (unless Tenant or its employees or agents caused the damage). Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period if the Property shall be materially damaged by Tenant or its employees or agents, or if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within 120 days after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than 25% of the Premises is rendered untenantable as a result of a Casualtyaffected by the damage, and fewer than 24 months remain in the Rent shall xxxxx for Term, or any material damage occurs to the portion Premises during the last 12 months of the Premises Term, (c) any Holder (as defined in Article 24) shall require that the insurance proceeds or any portion thereof be used to retire the Mortgage debt or the damage is untenantable and not used fully covered by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage toLandlord's insurance policies, or destruction of, all or any part (d) the cost of the Premisesrepairs, alterations, restoration or improvement work would exceed 25% of the replacement value of the Building, the Property or the Projectnature of such work would make termination of this Lease necessary or convenient. Tenant agrees that Landlord's obligation to restore, and any Lawsthe abatement of Rent provided herein, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall be Tenant's sole recourse in the absence event of an express such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. Tenant acknowledges that this Article represents the entire agreement between the parties, and any similar parties respecting damage to the Premises or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Lease Agreement (Infocure Corp)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged by notice such casualty) or in the event Landlord will not be permitted by applicable law to Tenant within 60 days rebuild the Building in substantially the same form as existed prior to the fire or casualty or in the event the Premises has been materially damaged and there is less than two (2) years of the Lease Term remaining on the date of such casualty or in the fire event any Mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or other casualty (a “Casualty”)in the event of any material uninsured loss to the Building, shall have the right to Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of such casualty. Such termination shall be effective as of the Casualtydate of fire or casualty, with respect to any portion of the Premises that was rendered untenantable, and the effective date of termination specified in Landlord's notice, with respect to any portion of the Premises that remained tenantable. If Landlord does not elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building (provided that Landlord shall not be required to restore any unleased premises in the Building) and the Leasehold Improvements (but excluding any improvements, alterations or additions made by Tenant in violation of this Lease) located within the Premises. Such restoration shall be , if any, which Landlord has insured to substantially the same condition that existed they were in immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Building, and the Leasehold Improvements, if any, shall not require Landlord to expend for modifications required by Law. However, in no event shall Landlord be required to spend such repair and restoration work more than the insurance proceeds actually received by Landlordthe Landlord as a result of the casualty. Upon notice from When repairs to the Premises have been completed by Landlord, Tenant shall assign complete the restoration or endorse over replacement of all Tenant's Property necessary to permit Tenant's reoccupancy of the Premises, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost 's ability to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion except that, subject to the provisions of the Premises is rendered untenantable as next sentence, Landlord shall allow Tenant a result fair diminution of Rent on a Casualty, per diem basis during the Rent shall xxxxx for time and to the portion of extent any damage to the Premises that is causes the Premises to be rendered untenantable and not used by Tenant. The provisions If the Premises or any other portion of this Leasethe Building is damaged by fire or other casualty resulting from the gross negligence or willful misconduct of Tenant or any Tenant Related Parties, including this Section 15the Rent hereunder shall not be diminished during any period during which the Premises, constitute an express agreement between or any portion thereof, is untenantable (except to the extent Landlord is entitled to be reimbursed by the proceeds of any rental interruption insurance), and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds. Landlord and Tenant with respect hereby waive the provisions of any law from time to time in effect during the Lease Term relating to the effect upon leases of partial or total destruction of leased property. Landlord and Tenant agree that their respective rights in the event of any and all damage to, to or destruction ofof the Premises shall be those specifically set forth herein. Notwithstanding anything in this Article XIX to the contrary, if all or any part portion of the PremisesPremises shall be made untenantable by a fire or other casualty, Landlord shall, with reasonable promptness, cause an architect or general contractor selected by Landlord to estimate the Building, the Property or the Project, amount of time required to substantially complete repair and any Laws, including, without limitation, Sections 1932(2) and 1933(4) restoration of the California Civil CodePremises and make the Premises tenantable again, with respect using standard working methods (the "Completion Estimate"). If the Completion Estimate indicates that the Premises cannot be made tenantable within eighteen (18) months from the date the repair and restoration is started, either party shall have the right to any rights or obligations concerning damage or destruction terminate this Lease by giving written notice to the other of such election within ten (10) days after its receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate this Lease in the absence event that the fire or casualty in question was caused by the negligence or intentional misconduct of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease Tenant or any damage or destruction to all or any part of Tenant Related Parties. If the Premises, Completion Estimate indicates that the Building or the Property.Premises can be made tenantable within eighteen (18)

Appears in 1 contract

Samples: Office Lease Agreement (United States Exploration Inc)

Casualty Damage. LandlordIf the Premises shall be damaged by fire or other casualty, by Tenant shall give prompt written notice to Tenant within 60 days of Landlord. If the date of the Building or any part thereof or access thereto shall be so damaged or destroyed by fire or other casualty that substantial alteration or reconstruction of the Building and access thereto shall, in the good faith and reasonable determination of Landlord's Architect, be required with such repair taking longer than ninety (a “Casualty”90) days (whether or not the Premises shall have been damaged by such casualty), or in the event any Mortgagee should require that the insurance proceeds be applied to the payment of the mortgage debt, or in the event of any material uninsured loss to the Building, then this Lease shall not terminate, but Landlord may, at its option, relocate Tenant to similar premises within the Uptown Charlotte Area within ninety (90) days after the date of such damage, at Landlord's cost, instead of restoring the Building and/or the Premises for Tenant's use; provided, however that Landlord shall use reasonable efforts to relocate Tenant's critical operations as soon as possible after such damage or destruction. In order to relocate Tenant within the aforesaid ninety (90) day period, Landlord shall have the right to terminate this Lease temporarily place Tenant in separate buildings within the greater Charlotte Area if necessary to accommodate the size of Tenant's Premises. As soon as reasonably practicable thereafter, Landlord shall relocate all or any part of the Premises is damaged to one (1) building in the extent that it canUptown Charlotte Area, however, the Premises shall not reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair be located on contiguous floors within such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsbuilding. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage, repair, or the repair thereofrelocation. Provided that Tenant is not in Default, during any period of time that all or a material portion Upon restoration of the Premises is rendered untenantable as a result or relocation of a CasualtyTenant, the Rent Tenant shall xxxxx for the portion of the Premises that is untenantable proceed to restore Tenant's furniture, fixtures and not used equipment and any leasehold improvements installed by Tenant. The provisions Landlord shall pay all relocation costs, as set forth in Section 8.21, unless the casualty results from the fault or negligence of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of Tenant's agents, employees or invitees, in which case Tenant shall be liable to Landlord for the cost of the Premises, the Building, the Property or the Project, repair and any Laws, including, without limitation, Sections 1932(2) and 1933(4) restoration of the California Civil Code, with respect Building to any rights or obligations concerning damage or destruction in the absence extent such cost and expense is not covered by insurance proceeds and for the cost of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part relocation of the Premises, the Building or the PropertyTenant.

Appears in 1 contract

Samples: Lease Agreement (Exult Inc)

Casualty Damage. LandlordIf fire or other casualty cause damage to the Premises in an amount exceeding thirty percent (30%) of the full construction-replacement cost of the Premises, by notice Landlord may elect to Tenant within 60 days terminate this Lease as of the date of the fire damage by notice in writing to Tenant. In the event that the damage to the Premises is less than thirty percent of the full construction-replacement cost of the Premises, or other casualty (a “Casualty”)if more than thirty percent, shall have the right but Landlord elects not to terminate this Lease if all the Lease, Landlord shall promptly repair the damage and restore the Landlord's Improvements to their former condition as soon as practicable. Tenant's Improvements , trade fixtures, personal property and any alterations to the Premises made by Tenant shall be replaced by Tenant at Tenant's expense. In the event of such casualty, Tenant shall not be entitled to any abatement of rent; instead, Tenant shall look to Tenant's Business Interruption Insurance. Tenant shall not be entitled to any compensation or any damages from Landlord for loss of the use of the whole or part of the Premises is damaged to or the extent that it cannot reasonably be repaired Park, or any inconvenience or annoyance occasioned by such damage or reconstruction. Notwithstanding the foregoing, within 120 fifteen (15) business days after the date of the Casualty. If this Lease is not terminatedfire or casualty, Landlord shall promptly provide to Tenant in writing a reasonable estimate of the time required to repair the damage and diligently restore the PremisesLandlord's Improvements to their former condition. Such restoration If such estimate exceeds one hundred fifty (150) days, Tenant may terminate this lease by written notice to Landlord to be given within fifteen business (15) days of receipt of Landlord's estimate, after which Tenant's right to terminate shall lapse. The termination shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance effective as of the repairs. date that Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from receives the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertynotice.

Appears in 1 contract

Samples: Industrial Lease (Convera Corp)

Casualty Damage. (a) During the term hereof, if the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days of the date of the fire or other casualty that substantial alteration or reconstruction of the Building shall be required (a “Casualty”whether or not the Premises shall have been damaged by such fire or other casualty), shall have (i) if such damage cannot be repaired within one hundred eighty (180) days thereafter, as reasonably determined by Landlord, (ii) if any mortgagee under a mortgage or deed of trust covering the right Building requires that the insurance proceeds payable as a result of said fire or other casualty be used to retire or reduce such mortgage debt, or (iii) if such damage is not covered by insurance required to be carried by Landlord under this Lease, Landlord may, at its option, terminate this Lease if all or any part and the term and estate hereby granted by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 sixty (60) days after the date of such damage, in which event the CasualtyRent shall be abated as of the date of such damage. If the damage does not require substantial alteration or reconstruction or if Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly shall, within sixty (30) days after the date of such damage, commence to repair and diligently restore the Premises. Such restoration Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its reasonable control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for required to rebuild, repair or replace any inconvenience to part of Tenant, 's furniture and furnishings or injury to Tenant’s business, resulting in any way from fixtures and equipment removable by Tenant under the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between but such work shall not exceed the scope of the work done by Landlord and in originally constructing the Building. Tenant with respect shall not be entitled to any compensation or damages from Landlord, and all damage toLandlord shall not be liable, or destruction of, all for any loss of the use of the whole or any part of the Premises, the Building, Tenant's personal property, or any inconvenience or annoyance occasioned by such loss of use, damage, repair, reconstruction or restoration, except that, subject to the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) provisions of the California Civil Codenext sentence, with respect Landlord shall allow Tenant a diminution of Rent during the time and to any rights the extent the Premises, or obligations concerning damage or destruction in other portions of the absence of an express agreement between the parties, Project (including without limitation Common Areas and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part parking areas) reasonably required for Tenant's use of the Premises, are unfit or unavailable for occupancy. If the Premises or any other portion of the Building are damaged by fire or other casualty resulting from the negligence of Tenant or any of Tenant's agents, employees, or invitees, Tenant shall be liable to Landlord for the reasonable cost and expense of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds from the insurance required to be carried under this Lease. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the PropertyPremises shall be for the sole benefit of the party carrying such insurance and under its sole control. Tenant hereby specifically waives any and all rights it may have under any law, statute, ordinance or regulation to terminate the Lease by reason of casualty or damage to the Premises or Building, and the parties hereto specifically agree that the Lease shall not automatically terminate by law upon destruction of the Premises.

Appears in 1 contract

Samples: Net Lease Agreement (Williams Sonoma Inc)

Casualty Damage. LandlordUnless this Lease is terminated as provided below, in the event of partial or total destruction of the Premises during the Term by notice fire or other casualty, the Landlord shall, as promptly as practicable after receipt of any insurance proceeds available as a result of such casualty, repair, reconstruct or replace the portions of the Premises destroyed as nearly as possible to their condition prior to such destruction, except that in no event shall the Landlord be obligated to expend more for such repair, reconstruction or replacement than the amounts of any such insurance proceeds actually received. Commencing on the date of such casualty and during the period of such repair, reconstruction and replacement there shall be an equitable abatement of Basic Rent hereunder in proportion to the loss of usable floor area in the Premises, provided, however, in the event the damage is to the manufacturing area of the Premises, then the Rent shall, in lieu of being based on the proportion of lost floor area, be equitably abated due to the loss of use of the facility. If it is not feasible for Tenant, in its reasonable business judgment, to operate its business in the Premises during any period of repair or restoration, Tenant may discontinue the conduct of its business in the Premises during such period and all Rent payable by Tenant shall cease, from the date that Tenant closes its premises until the Premises shall have been restored as nearly as practicable to its pre-damage condition. If all or substantially all of the Premises shall be destroyed by fire or other casualty such that Tenant, in its reasonable judgment, deem the Premises unfit for the feasible operation of Tenant’s business or if the Building is so extensively destroyed by fire or other casualty that an independent engineer or architect (the “Estimator”) certifies that the Premises cannot reasonably be expected to be susceptible of repair, reconstruction or replacement within 60 a period of two hundred ten (210) days of from the date of the fire casualty, or other casualty (a “Casualty”)if any damage results from causes or risks not required to be insured against by the Landlord hereunder or if any Mortgagee refuses to make such net proceeds available for such repair, shall have reconstruction or replacement, the right to Landlord or Tenant may terminate this Lease if all or any part by giving written notice to the other party within ninety (90) days after the date of such destruction. Provided further, that if, despite diligent efforts, the Landlord has been unable to restore the Premises is damaged to the extent that it cannot reasonably be repaired their condition prior to such destruction within 120 two hundred ten (210) days after the date of the Casualty. If casualty, the Landlord or Tenant may terminate this Lease is not terminatedby written notice to the other party. In the event of any such notice of termination, Landlord this Lease shall promptly terminate as of, and diligently restore the Premises. Such restoration Basic Rent and Additional Rent shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice appropriately apportioned through and abated from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrierand after, the excess cost date of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement notice of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertytermination.

Appears in 1 contract

Samples: Lease (Inverness Medical Innovations Inc)

Casualty Damage. (a) During the Term, if the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days of the date of the fire or other casualty that substantial alteration or reconstruction of the Building shall be required (a “Casualty”whether or not the Premises shall have been damaged by such fire or other casualty), shall have (i) if such damage cannot be repaired within 90 days thereafter, as reasonably determined by Landlord, (ii) if any mortgagee under a mortgage or deed of trust covering the right Building requires that the insurance proceeds payable as a result of said fire or other casualty be used to retire or reduce such mortgage debt, or (iii) if such damage is not covered by insurance carried by Landlord, Landlord may, at its option, terminate this Lease if all or any part and the term and estate hereby granted by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 50 days after the date of such damage, in which event the CasualtyRent shall be abated as of the date of such damage. If this Lease is not terminatedLandlord elects to repair the Premises and/or the Building, Landlord shall promptly within 60 days after the date of such damage commence to repair and diligently restore the Premises. Such restoration Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for required to rebuild, repair or replace any inconvenience to Tenant, or injury to part of Tenant’s business, resulting in any way from furniture and furnishings or fixtures and equipment removable by Tenant under the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and . Tenant with respect shall not be entitled to any compensation or damages from Landlord, and all damage toLandlord shall not be liable, or destruction of, all for any loss of the use of the whole or any part of the Premises, the Building, Tenant’s personal property, or any inconvenience or annoyance occasioned by such loss of use, damage, repair, reconstruction or restoration, except that, subject to the Property provisions of the next sentence, Landlord shall allow Tenant a diminution of Rent on a square footage basis during the time and to the extent the Premises are unfit or unavailable for occupancy. If the ProjectPremises or any other portion of the Building are damaged by fire or other casualty resulting from the negligence of Tenant or any Tenant Party, Tenant shall be liable to Landlord for the cost and expense of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds. Whether or not any damage to the Premises is caused by Tenant or a Tenant Party, Tenant shall cause all applicable proceeds under Tenant’s insurance to be paid to or for the account of Landlord for payment of the necessary repair and restoration. Any insurance which may be carried by Landlord against loss or damage to the Building or to the Premises shall be for the sole benefit of Landlord and under its sole control. Tenant hereby specifically waives any and all rights it may have under any law, statute, ordinance or regulation to terminate the Lease by reason of casualty or damage to the Premises or Building, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or parties hereto specifically agree that the Lease shall not automatically terminate by law upon destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises. Except as otherwise provided in this Section 22, Tenant hereby waives the Building or the Propertyprovisions of California Civil Code sections 1932(2), 1933(4), 1941 and 1942.

Appears in 1 contract

Samples: Standard Lease Agreement (Allbirds, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Complex shall be so damaged that substantial alteration or reconstruction of the Complex shall, in Landlord's reasonable opinion, be required (whether or not the Premises shall have been damaged by notice such casualty) or in the event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt and not to reconstruction of the Complex, or in the event of any material uninsured loss to the Complex for which Landlord is not required to insure under the terms of this Lease, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within ninety (90) days after the date of such damage. In furtherance of the foregoing, but not in limitation thereof, if the repairs and restoration of the Premises cannot be completed within one hundred fifty (150) days after the occurrence of such damage (taking into account the time needed for removal of debris, preparation of plans and issuance of all required governmental permits), Landlord and Tenant shall have the right, at the option of either, to terminate this Lease as described in the following sentences. Within forty-five (45) days after the occurrence of such damage, Landlord shall provide reasonable assurances to Tenant that such repairs and restoration can be substantially completed within 60 one hundred fifty (150) days of the date occurrence of the fire or other casualty damage and that Landlord intends to perform such repairs and restoration. If Landlord so informs Tenant that such repairs and restoration can be completed within such time, this Lease shall continue and Landlord shall use its reasonable best efforts to complete said repairs and restoration within said 150-day period. If Landlord fails to provide such assurances, then Tenant shall have the right to notify Landlord within fifteen (a “Casualty”)15) days that it is terminating this Lease. If the restoration of the Premises is not substantially completed within said 150-day period due to no fault of Tenant, Tenant shall have the right to terminate this Lease if all or any part by giving notice to Landlord no later than the second business day following the end of the Premises said 150-day period. If this Lease is damaged terminated pursuant to the extent that it cannot reasonably preceding sentences, all rent payable hereunder shall be repaired within 120 days after apportioned and paid to the date of the Casualtyoccurrence of such damage. If this Lease is not terminated, Landlord shall shall, following settlement of Landlord's insurance claims, promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Premises and the Complex to substantially the same condition that existed in which they were immediately prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.the

Appears in 1 contract

Samples: Indemnity Agreement (Advanced Switching Communications Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 calendar days of the date of the fire or other casualty (a "Casualty"), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 calendar days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently diligently, restore the PremisesPremises and all Leasehold Improvements existing within the Premises prior to the Casualty. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by LandlordLaws. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s 's Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s 's insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s 's commencement of repairs. Within 15 30 calendar days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, 's business resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during During any period of time that all or a material any portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable or unusable by Tenant for its ordinary business operations and not used by Tenant for the period from the date of the Casualty to the date such portion of the Premises is made tenantable. Notwithstanding the foregoing, and without limiting Tenant's obligations, to pay to Landlord any cost of restoration in excess of the proceeds of Tenant's Insurance, in the event that Landlord does not receive sufficient insurance proceeds to complete all required restoration work, whether due to an uninsured Casualty, requirements of a Mortgagee, or otherwise, then Landlord shall have the right to terminate this Lease by written notice to Tenant. The provisions of this Lease, including this Section 1516, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property. Within sixty (60) calendar days after the date Landlord learns of the necessity for repairs as a result of Casualty damage to the Premises, Landlord shall notify Tenant ("Damage Repair Estimate") of Landlord's estimated assessment of the period of time in which the repairs will be completed to the Premises. If the Damage Repair Estimate indicates that repairs cannot be completed to the Premises within one hundred eighty (180) calendar days after being commenced and if such damage is not the result of the gross negligence or willful misconduct of Tenant or Tenant's Invitees, Tenant may elect, not later than thirty (30) calendar days after Tenant's receipt of the Damage Repair Estimate, to terminate this Lease by written notice to Landlord effective thirty (30) calendar days following delivery of Tenant's notice.

Appears in 1 contract

Samples: Office Lease Agreement (ChromaDex Corp.)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. If the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole and reasonable opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event any mortgagee of Landlord’s should require that the insurance proceeds payable as a result of a casualty by applied to the payment of the mortgage debt, or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch damage. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications that Landlord’s obligation to restore shall not exceed the scope of the work required to be done by Law. HoweverLandlord in originally constructing the Building and installing Improvements in the Premises, in no event nor shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLandlord as a result of the casualty. Upon notice from When the Shell Improvements have been restored by Landlord, Tenant shall assign or endorse over complete the restoration of the Premises to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Building Standard and the restoration of Tenant’s Insurance with respect to any Leasehold furniture and equipment. Except for reconstruction of the Shell Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, all cost and expense of reconstructing the excess cost of such repairs Premises to Building Standard shall be paid borne by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsTenant. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereto except that, subject to the provisions of the next sentence. Landlord shall allow Tenant a fair abatement of rent during the time and to the extent the Premises are unfit for occupancy, including during restoration thereof. Provided that Tenant is not in DefaultNotwithstanding anything herein to the contrary, during if the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenants agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage, and Tenant shall be liable to Landlord for the portion entire cost of the Premises that repair and restoration of the Building caused thereby to the extent such cost and expense is untenantable and not used covered by TenantLandlord’s insurance proceeds. The provisions of When a casualty occurs, if the reconstruction will take more than six (6) months to complete, Tenant shall have the right to cancel this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease Agreement (Sun American Bancorp)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Project shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty such that substantial alteration or reconstruction of the Project shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by a casualty affecting the right Project) or in the event any mortgagee of Landlord's should require that the insurance proceeds, or any portion thereof, payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Project or the Premises, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of such termination within the Premises is damaged later to the extent that it cannot reasonably be repaired within 120 occur of ninety (90) days after the date of such casualty or ninety (90) days after the Casualtydate of receipt of Tenant's notice relating to the Premises. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Premises to substantially the same condition that existed in which they were immediately prior to the Casualtyhappening of the casualty (without regard, however, to alterations made by or on behalf of Tenant, without Landlord's prior written consent), except for modifications the Landlord's obligation to restore shall not exceed the scope of the work required to be done by Law. HoweverLandlord in originally constructing the Premises and installing Building Standard Improvements in the Premises, in no event nor shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLandlord for the Building Standard Improvements in the Premises, nor shall Landlord be required to spend for such work an amount in excess of the insurance proceeds actually received by Landlord for the Building Standard Improvements in the Premises as a result of the casualty. Upon notice from LandlordWhen Building Standard Improvements in the Premises have been restored by Landlord (to the extent that insurance proceeds actually received by Landlord are sufficient to complete such work), Tenant shall assign or endorse over complete, at its sole cost and expense, the restoration of the Premises, including, without limitation, the reconstruction of all improvements in excess of Building Standard Improvements and the restoration of Tenant's furniture and equipment. Such work to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements be performed by Tenant shall not result in any type of mechanic's or for materialman's lien affecting the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrierPremises, the excess cost Project or any portion thereof and shall result in the reconstruction or restoration of such repairs shall be paid said items by Tenant to Landlord a condition that is at least equal in quality to the condition of said items existing prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairssuch damage or destruction. Landlord shall not be liable have no liability to Tenant for the Landlord's termination of the Lease in accordance with the provisions hereof, or for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business or property of Tenant resulting in any way from the Casualty occurrence of a casualty or the repair thereof. Provided that of any damage or destruction related thereto, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant is not in Defaulta fair diminution of Rent, as determined by Landlord, during the time and to the extent the Premises are unfit for occupancy; provided, however, such unfitness for occupancy shall not be construed to constitute an actual or constructive eviction. if the Premises or any period other portion of time the Project be damaged for fire or other casualty resulting from the fault or negligence of Tenant or any of Tenant's agents, employees, licensees, or invitees, the Rent hereunder shall not be diminished, and regardless of whether this Lease is terminated, Tenant shall be liable to Landlord for the cost of the repair and restoration of the Premises, all other parts of the Project, and all tenant improvements in the Project resulting therefrom to the extent such cost and expenses exceed the amount of insurance proceeds actually received by Landlord therefor, and Landlord shall retain all other rights and remedies that Landlord may have at law, in equity or pursuant to this Lease. Anything in this Lease to the contrary notwithstanding, if more than fifteen percent (15%) of the Premises are damaged by fire or other casualty or if all or a material any portion of the Premises is rendered untenantable as a result of a Casualty, damaged by fire or other casualty during the Rent shall xxxxx for the portion last year of the Premises that is untenantable and not used by Tenant. The provisions term (excluding the period during any renewal term, unless such fire or casualty occurs during a renewal term) of this Lease, including this Section 15then Landlord may, constitute an express agreement between Landlord and Tenant with respect to any and all damage toat its option, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to terminate this Lease by notifying Tenant in writing of such termination within the later to occur of ninety (90) days after the date of such casualty or any damage or destruction to all or any part ninety (90) days after the date of the Premises, the Building or the Propertyreceipt by Landlord of Tenant's notice.

Appears in 1 contract

Samples: Lease Agreement (Western Country Clubs Inc)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days of the date of the fire or other casualty that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (a “Casualty”whether or not the Premises shall have been damaged by such fire or other casualty), shall have or in the right event any mortgagee of Landlord’s should require that the insurance proceeds payable as a result of said fire or other casualty be applied in reduction of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of such damage in which event the Casualtyrent hereunder shall be abated as of the date of such damage. If this Lease Landlord is not terminatedentitled to or does not thus elect to terminate this Lease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Landlord’s obligation to restore shall not exceed the scope of the work done by Landlord in originally constructing the Building and installing Building Standard improvements (as described in the Tenant Improvements) in the Premises, except for modifications nor shall Landlord be required to incur costs or expense in excess of the insurance proceeds actually received by LawLandlord as a result of the casualty. However, in In no event shall Landlord be required to spend more than rebuild, repair or replace any part of Tenant’s furniture, furnishings, fixtures or equipment removable by Tenant under the insurance proceeds received terms of this Lease. Except for the installation of Building Standard improvements within the Premises, all cost and expense of reconstructing the Premises shall be borne by Landlord. Upon notice from LandlordTenant, and Tenant shall assign or endorse over present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under of Tenant’s Insurance with respect ability to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s commencement of repairs. Within 15 days reconstruction of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Building is rendered untenantable as a result damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant’s agents, employees, contractors, licensees or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, extent such cost and expense is not covered by insurance proceeds. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Property or Premises shall for the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) sole benefit of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, party carrying such insurance and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyunder its sole control.

Appears in 1 contract

Samples: Office Building Lease (CreditCards.com, Inc.)

Casualty Damage. Landlord, If the Premises or any part thereof is damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. If the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event any mortgage of Landlord should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch damage. If Landlord does not elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualty, except for modifications required happening of the casualty. When the Building has been restored by Law. However, Landlord (including the work done by Landlord in no event shall Landlord be required to spend more than the insurance proceeds received by Premises as “Landlord. Upon notice from Landlord’s Work” under the Work Letter attached hereto as Exhibit “B”, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under complete the restoration of the Premises and the replacement of Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsfurniture and equipment. Landlord shall not be liable for any inconvenience inconveniences or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of base rent during the time and to the extent the Premises are untenantable. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant’s agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repaid of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by Landlord’s insurance proceeds.

Appears in 1 contract

Samples: Office Lease (Interactive Brand Development Inc.)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event there is less than two (2) years of the Lease Term remaining or in the event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building, and the improvements located within the Premises. Such restoration , if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as EXHIBIT "D" (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Budding, and the improvements located within the Premises, if any, for modifications required by Law. Howeverwhich Landlord had financial responsibility pursuant to the Work Letter Agreement, in no event shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty and Landlord's obligation to restore shall be further limited so that Landlord shall not be required to expend for the repair and restoration of the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, more than the dollar amount of the Allowance, if any, described in the Work Letter Agreement. Upon notice from When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to permit Tenant's reoccupancy of the Premises which Landlord is not obligated to restore as set forth above. Except as set forth above, all cost and expense of reconstructing the Premises shall be borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord (of Tenant's ability to pay such costs prior to Landlord's commencement of repair and restoration of the Premises. Tenant shall not be entitled to receive any credit or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance payment with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance portion of the repairsReconstruction Allowance not actually spent upon restoration of the Promises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Building is rendered untenantable as a result damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Office Lease Agreement (Objectspace Inc)

Casualty Damage. 16.01 If all or any portion of the Premises or if the portion of the Parking Facility serving the Premises which may be required for Tenant’s access to and use and enjoyment of the Premises becomes untenantable or inaccessible by fire or other casualty to the Premises or the Common Areas (collectively a “Casualty”), Landlord, within (1) 90 days of the date of the Casualty, if the Casualty affects only the Building, or (2) 120 days of the date of the Casualty if the Casualty affects the Building and other buildings, shall cause a general contractor selected by Landlord to provide Landlord with a written estimate of the amount of time required, using standard working methods, to substantially complete the repair and restoration of the Premises and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). Landlord shall promptly forward a copy of the Completion Estimate to Tenant. If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 210 days from the date the repair is started, then either party shall have the right to terminate this Lease upon written notice to the other within 10 days after Tenant’s receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate this Lease if the Casualty was caused by the negligence or intentional misconduct of Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within 60 90 days of after the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part if: (1) the Premises have been materially damaged and there is less than 2 years of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after Term remaining on the date of the Casualty. If ; (2) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (3) a material uninsured loss to the Building or Premises occurs, provided, however, that if a loss is uninsured because Landlord failed to maintain the insurance required to be maintained by Landlord under Section 14 above, such loss will not be deemed uninsured and shall not permit Landlord the right to terminate this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be pursuant to substantially the same condition that existed prior to the Casualty, except for modifications required by Lawthis Section 16.01(3). However, in no event shall Landlord be required to spend more than for purposes of the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrierpreceding sentence, the excess cost existence of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord a deductible shall not be liable for any inconvenience deemed to Tenant, or injury be a failure by Landlord to Tenant’s business, resulting in any way from maintain the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used insurance required to be maintained by Tenant. The provisions of this Lease, including this Landlord under Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property14 above.

Appears in 1 contract

Samples: Office Lease Agreement (Microfinancial Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if A. If all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlordfire or other casualty, Tenant shall assign or endorse over to immediately notify Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairsin writing. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualtyfire or other casualty (including due to the inaccessibility of the Premises), the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of Landlord shall have the right to terminate this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, Lease if: (1) the Building, the Property Campus or the ProjectProject shall be damaged so that, and any Lawsin Landlord’s reasonable judgment, including, without limitation, Sections 1932(2) and 1933(4) substantial alteration or reconstruction of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyCampus shall be required (whether or not the Premises has been damaged), and such reconstruction or alteration would effectively eliminate the continued use of the Premises in the manner contemplated by this Lease; (2) Landlord is not permitted by Law to rebuild the Building, the Campus or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building, the Campus or the Project occurs. Notwithstanding the foregoing, Landlord will not be entitled to terminate this Lease solely because there is less than 2 years on the Term if Tenant has an exercisable right to renew or extend the Term and Tenant, within 15 days after receipt of Landlord’s written notice of termination, validly exercises such right. The foregoing shall not prohibit Landlord from exercising its right to terminate for any of the other reasons set forth herein. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing of such termination as soon as reasonably practicable (taking into consideration delays such as adjustment of insurance claims), but in all circumstances within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord together with any applicable deductible; provided that if Landlord does not receive sufficient insurance proceeds to substantially complete the restoration of the Premises and Landlord elects not to fund any shortfall, Landlord shall so notify Tenant immediately and Tenant, within 10 days after such notification, shall have the right to terminate this Lease by the giving of written notice to Landlord. Landlord shall not be liable for any loss or damage to Tenant’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Cardica Inc)

Casualty Damage. If: (a) the Building or Project shall be so damaged that substantial alteration or reconstruction of the Building or Project shall, in Landlord’s opinion, be required (whether or not the Premises shall have been damaged by the casualty); or (b) Landlord is not permitted to rebuild the Building or the Project in substantially the same form as they existed before the damage; or (c) the Premises shall be materially damaged by casualty during the last two years of the Lease Term; or (d) any mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (e) the damage is not covered by insurance maintained by Landlord; then Landlord may, within 90 days after the casualty, give notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right Landlord’s election to terminate this Lease if all or any part Lease, and the balance of the Premises is damaged to Lease Term shall automatically expire on the extent that it cannot reasonably be repaired within 120 days fifth day after the date of the Casualtynotice is delivered. If Landlord does not elect to terminate this Lease is not terminatedLease, Landlord shall promptly and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building and the Premises to substantially the same condition that existed prior to they were in immediately before the Casualty, except for modifications required by Lawcasualty. However, in no event Landlord shall Landlord not be required to spend more than restore any unleased premises in the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign Building or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under portion of Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost property, and Landlord’s obligation to repair such Leasehold Improvements exceeds or restore the amount Premises shall be limited to the extent of insurance proceeds actually received by Landlord from due to the casualty and shall not include any improvements or alterations performed by Tenant’s insurance carrier, . Rent shall xxxxx in proportion to the excess cost portion of such repairs shall be paid the Premises not usable by Tenant as a result of any casualty resulting in damage to the Building which is covered by insurance carried or required to be carried by Landlord prior to Landlord’s commencement of repairs. Within 15 days of demandunder this Lease, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance as of the repairsdate on which the Premises becomes unusable. Landlord shall not otherwise be liable to Tenant for any delay in restoring the Premises or any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, business resulting in any way from the Casualty damage or the repair thereof. Provided that Tenant is not in Defaultrepairs, during any period Tenant’s sole remedy being the right to an abatement of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyRent.

Appears in 1 contract

Samples: Office Lease (FlexShopper, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged by fire or other casualty that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (whether or not the Premises shall have been damaged by notice such fire or other casualty) or in the event any mortgagee of Landlord should require that the insurance proceeds payable as a result of said fire or other casualty be applied in reduction of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within 60 forty-five (45) days after the date of such damage in which event the rent hereunder shall be abated as of the date of the fire such damage. If Landlord is not entitled to or other casualty (a “Casualty”), shall have the right does not thus elect to terminate this Lease if all or any part Lease, Landlord shall commence and proceed with reasonable diligence to restore the Building and the Leased Premises (including Leasehold Improvements) to substantially the same condition in which they were immediately prior to the happening of the casualty but Landlord shall not in any event be required to incur costs or expense in excess of the insurance proceeds actually received by Landlord as a result of the casualty. In performing such work, Landlord shall not be responsible for delays outside its control. If the Building and premises are not rebuilt so as to allow Tenant to occupy the Premises is damaged to and and conduct its business in the extent that it cannot reasonably be repaired Premises within 120 two hundred forty (240) days after the date of the Casualty. If casualty, then Tenant may terminate this Lease is not terminated, by written notice to Landlord shall promptly and diligently restore within ten (10) days after the Premisesexpiration of such two hundred forty (240) day period. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in In no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlordrebuild, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit part of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs's Property. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Complex is rendered untenantable as a result damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, the Rent employees or invitees, Tenant shall xxxxx be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Complex caused thereby to the Building, extent such cost and expense is not covered by or would not be covered by Landlord's insurance proceeds. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Property or Premises shall be for the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) sole benefit of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, party carrying such insurance and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyunder its sole control.

Appears in 1 contract

Samples: Crossroads Systems Inc

Casualty Damage. Landlord, by notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently diligently, restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by LandlordLaws. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, business resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Notwithstanding the foregoing, and without limiting Tenant’s obligations, to pay to Landlord any cost of restoration in excess of the proceeds of Tenant’s Insurance, in the event that Landlord does not receive sufficient insurance proceeds to complete all required restoration work, whether due to an uninsured Casualty, requirements of a Mortgagee, or otherwise, then Landlord shall have the right to terminate this Lease by written notice to Tenant. The provisions of this Lease, including this Section 1516, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease Agreement (Emmaus Life Sciences, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Complex shall be so damaged that substantial alteration or reconstruction of the Complex shall, in Landlord's reasonable opinion, be required (whether or not the Premises shall have been damaged by notice such casualty) or in the event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt and not to reconstruction of the Complex, or in the event of any material uninsured loss to the Complex for which Landlord is not required to insure under the terms of this Lease, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within ninety (90) days after the date of such damage. In furtherance of the foregoing, but not in limitation thereof, if the repairs and restoration of the Premises cannot be completed within one hundred fifty (150) days after the occurrence of such damage (taking into account the time needed for removal of debris, preparation of plans and issuance of all required governmental permits), Landlord and Tenant shall have the right, at the option of either, to terminate this Lease as described in the following sentences. Within forty-five (45) days after the occurrence of such damage, Landlord shall provide reasonable assurances to Tenant that such repairs and restoration can be substantially completed within 60 one hundred fifty (150) days of the date occurrence of the fire or other casualty damage and that Landlord intends to perform such repairs and restoration. If Landlord so informs Tenant that such repairs and restoration can be completed within such time, this Lease shall continue and Landlord shall use its reasonable best efforts to complete said repairs and restoration within said 150-day period. If Landlord fails to provide such assurances, then Tenant shall have the right to notify Landlord within fifteen (a “Casualty”)15) days that it is terminating this Lease. If the restoration of the Premises is not substantially completed within said 150-day period due to no fault of Tenant, Tenant shall have the right to terminate this Lease if all or any part by giving notice to Landlord no later than the second business day following the end of the Premises said 150-day period. If this Lease is damaged terminated pursuant to the extent that it cannot reasonably preceding sentences, all rent payable hereunder shall be repaired within 120 days after apportioned and paid to the date of the Casualtyoccurrence of such damage. If this Lease is not terminated, Landlord shall shall, following settlement of Landlord's insurance claims, promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Premises and the Complex to substantially the same condition that existed in which they were immediately prior to the Casualtyhappening of the casualty, except for modifications that Landlord's obligation to restore shall not exceed the scope of the work required by Law. Howeverto be done at Landlord's expense in originally constructing the Complex and the scope of the work in the Premises as described in the Work Agreement attached hereto as Exhibit B, in no event nor shall Landlord be required to spend more than an amount in excess of the deductible amount in Landlord's policy and the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds actually received by Landlord from as a result of the casualty. At such time as Landlord has completed its reconstruction obligations as above set forth, Tenant shall, at Tenant’s insurance carrier's expense, complete the excess cost restoration of such repairs the Premises. Landlord shall not be liable to Tenant for the repair or replacement of any installation made by Tenant. Repairs or replacements of installations made by Tenant or of Tenant's furniture, fixtures, equipment and contents shall be paid made by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsat its sole cost. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion except that, subject to the provisions of the Premises is rendered untenantable as next sentence, Landlord shall allow Tenant a result pro rata diminution of a Casualty, rent during the Rent shall xxxxx for time and based on the portion of the Premises that is untenantable are damaged and not used by Tenantunfit for occupancy. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all If the Premises or any part other portion of the PremisesComplex is damaged by fire or other casualty resulting from the negligence of Tenant or any of Tenant's agents or employees, the Building, rent hereunder shall not be diminished during the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) repair of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertysuch damage.

Appears in 1 contract

Samples: American Center Lease Agreement (Advanced Switching Communications Inc)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (whether or not the Premises shall have been damaged by notice such casualty) or in the event there is less than two (2) years of the Lease Term remaining or in the event Landlord's mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within ninety (90) days after the date of such casualty. Landlord shall deliver to Tenant within 60 days of the date of the fire or other casualty ninety (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 90) days after the date of the Casualtydamage, a reasonable estimate of the time required to repair and restore the Premises (the "Repair Estimate"). If Landlord does not thus elect to terminate this Lease is pursuant to the foregoing and Tenant does not terminatedelect to terminate this Lease as provided below, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building, and the improvements located within the Premises to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. If as a result of such fire or casualty the Premises or any part thereof have been damaged and the Repair Estimate states that repair and restoration thereof will not be completed within one hundred eighty (180) days after the date of the damage, except Tenant may terminate this Lease by giving Landlord notice of termination within thirty (30) days after the date Tenant receives the Repair Estimate. Notwithstanding the foregoing, Landlord's obligation to restore the Building, and the improvements located within the Premises shall not require Landlord to expend for modifications required by Law. However, in no event shall Landlord be required to spend such repair and restoration work more than the insurance proceeds actually received by LandlordLandlord as a result of the casualty. Upon notice from When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over complete the restoration of all furniture, fixtures and equipment which are necessary to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under permit Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance 's reoccupancy of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided , except that Tenant is not in Default, during any period of time that all or a material portion Tenant's Rent shall be abated from the date of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx damage or destruction for the any portion of the Premises that is untenantable and not used unusable by Tenant, which abatement shall be in the same proportion that the square footage of the Premises which is unusable by Tenant bears to the total square footage of the Premises; provided that Tenant shall not be entitled to any abatement of Rent if the damage or destruction within the Premises is restored within five (5) Business Days after Landlord's receipt of written notice from Tenant of the occurrence of the damage or destruction. The provisions Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate the Lease and Landlord does not substantially complete the required repair and restoration of the Premises within sixty (60) days after the expiration of the estimated repair period of time set forth in the Repair Estimate, which period shall be extended to the extent of any Reconstruction Delays (hereinafter defined), then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be extended, and in any event prior to the substantial completion of the required restoration. For purposes of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.term "

Appears in 1 contract

Samples: Industrial Building Lease Agreement (Chimerix Inc)

Casualty Damage. Landlord(A) If the Premises, or any Common Areas of the Building or of the Complex providing access thereto, shall be damaged by fire or other casualty, Landlord shall use available insurance proceeds to restore the same. Such restoration shall be to substantially the condition prior to the casualty, except for modifications required by zoning and building codes and other Laws or by any Holder (as defined in Article 24), any other modifications to the Common Areas deemed desirable by Landlord (provided access, size and configuration to the Premises is not materially impaired), and except that Landlord shall not be required to repair or replace any of Tenant Work or any Tenant’s furniture, furnishings, fixtures, equipment or other personal property or any Alterations or other improvements in excess of any work performed by Landlord under the terms and provisions of the Workletter or any separate agreement therefor signed by the parties hereto. Landlord agrees to give Tenant written notice to Tenant within 60 sixty (60) days of the date of the fire or other casualty of the estimated duration of the repair or restoration required or Landlord’s election to terminate the Lease if permitted under clauses (a “Casualty”)a) through (d) below. If the estimated time for repair or restoration exceeds two hundred seventy (270) days, Tenant shall have the right to terminate this Lease if all or any part within thirty (30) days of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsoriginal notice to Tenant. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent (Base Rent and Additional Rent) during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not in Defaultoccupied by Tenant as a result thereof (unless Tenant or its employees, during any period agents, or contractors caused the damage). Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease if the Building or the Complex shall be materially damaged by Tenant or its employees, agents, or contractors or if the Building shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within one hundred eighty (180) days after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than twenty-five percent (25%) of the Premises is rendered untenantable as a result of a Casualtyaffected by the damage, and fewer than twenty-four (24) months remain in the Rent shall xxxxx for Term, or any material damage occurs to the portion Premises during the last twelve (12) months of the Premises Term, (c) any Holder shall require that is untenantable and not the insurance proceeds or any portion thereof be used by Tenant. The provisions of this Leaseto retire the Mortgage debt (or shall terminate the ground lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage toas the case may be), or destruction ofthe damage is not fully covered by Landlord’s insurance policies, all or any part (d) the cost of the Premisesrepairs, alterations, restoration or improvement work would exceed twenty-five percent (25%) of the replacement value of the Building, the Property or the Projectnature of such work would make termination of this Lease necessary or convenient. Tenant agrees that Landlord’s obligation to restore, and the abatement of Rent and any Lawsother remedies provided herein, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall be Tenant’s sole recourse in the absence event of an express agreement between the partiessuch damage, and waives any similar or successor Laws now or hereinafter in effect, shall other rights Tenant may have no application under any applicable Law to this terminate the Lease or any by reason of damage or destruction to all or any part of the Premises, the Building or the PropertyComplex. If this Lease has not been sooner terminated by Landlord or Tenant and the repair or restoration is not completed within two hundred seventy (270) days after the date of the fire or other casualty for any reason, including Force Majeure Delay, Tenant may terminate this Lease upon thirty (30) days notice to Landlord, provided that if the repair or restoration is completed within such thirty (30) day period, Tenant’s termination of this Lease shall be null and void and this Lease shall continue in full force and effect in accordance with its terms.

Appears in 1 contract

Samples: Workletter Agreement (Medical Connections Holdings, Inc.)

Casualty Damage. Landlord, If the Leased Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole discretion, be required (a “Casualty”), whether or not the Leased Premises shall have been damaged by such casualty) or in the right event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration Building shell; except that Landlord's obligation to restore shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall not require Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLandlord as a result of the casualty. Upon notice from When the repairs described in the preceding sentence have been completed by Landlord, Tenant shall assign or endorse over restore all improvement necessary to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to permit Tenant's re-occupancy of the Leased Premises, and the restoration of Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for furniture and equipment. All cost and expense of reconstructing the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs Leased Premises shall be paid borne by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsTenant. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Leased Premises are unfit for occupancy and are unoccupied. Provided that Tenant is not in Default, during If the Leased Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any Tenant's agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair and restoration of the Building and Tenant shall be liable to Landlord for rent and for the portion cost of repair and restoration of the Premises that Building caused thereby to the extent such cost and expense is untenantable and not used covered by Tenantinsurance proceeds actually received by Landlord. The provisions of this LeaseNotwithstanding the foregoing, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between event that it is estimated that Landlord will need more than one hundred eighty (180) days to repair the partiesdamage caused by such casualty, and any similar or successor Laws now or hereinafter in effect, Tenant shall have no application the right to terminate this Lease or any damage or destruction Leased by providing written notice to all or any part Landlord within five (5) days of the Premises, the Building or the PropertyLandlord's notice to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Focal Communications Corp)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s reasonable opinion, be required and Landlord’s mortgagee requires that the insurance proceeds payable as a result of a casualty (a “Casualty”)be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, shall have the right to Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building, and the improvements located within the Premises. Such restoration , if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as Exhibit D (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord’s obligation to restore the Building, and the improvements located within the Premises, if any, for modifications required by Law. Howeverwhich Landlord had financial responsibility pursuant to the Work Letter Agreement, in no event shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty and Landlord’s obligation to restore shall be further limited so that Landlord shall not be required to expend for the repair and restoration of the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, more than the dollar amount of the Allowance, if any, described in the Work Letter Agreement. Upon notice from When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to permit Tenant’s reoccupancy of the Premises. Except as set forth above, all cost and expense of reconstructing the Premises shall be borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under of Tenant’s Insurance with respect ability to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Property is rendered untenantable as a result damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant’s agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Property caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Industrial Building Lease Agreement (Amedica Corp)

Casualty Damage. LandlordIn the event the Premises should be destroyed or damaged by fire, by notice to Tenant within 60 days of the date of the fire windstorm, or other casualty to the extent that the Premises is rendered unfit for the intended purpose of Tenant, Tenant may cancel this Lease after thirty (30) days notice to Landlord, but only after removing any trash and/or debris therefrom, subject to the terms and provisions of any Permitted Leasehold Mortgage. If the Premises is partially damaged due to any other reason than the causes described immediately above, but the Premises is not rendered unusable for Tenant’s purposes subject to the terms and provisions of any Permitted Leasehold Mortgage, the same shall be repaired by Tenant to the extent Tenant receives sufficient proceeds to complete such repairs from its insurance carrier under its insurance policy. Any such repairs will be completed within a “Casualty”)reasonable time after receipt of such proceeds. If the damage to the Premises shall be so extensive as to render it unusable for Tenant’s purposes but shall nonetheless be capable of being repaired within One Hundred Twenty (120) days, subject to the terms and provisions of any Permitted Leasehold Mortgagee the damage shall be repaired with due diligence by Tenant to the extent Tenant receives sufficient proceeds under its insurance policy to complete such repairs. In the event that a nearby structure(s) or improvement(s) is damaged or destroyed due to Tenant’s negligence, Tenant shall be solely liable and responsible to repair and/or compensate the owner for such damage or loss. Notwithstanding anything contained in this Section 6.1, or otherwise in this Lease to the contrary, as long as the Tenant’s leasehold interest is encumbered by any Permitted Leasehold Mortgage, this Lease shall not be terminated by Landlord or Tenant in the event that the Premises is partially or totally destroyed, and, in the event of such partial or total destruction, all insurance proceeds from casualty insurance as provided herein shall be paid to and held by the Permitted Leasehold Mortgagee, or an insurance trustee selected by the Permitted Leasehold Mortgagee to be used for the purpose of restoration or repair of the Premises. Permitted Leasehold Mortgagee shall have the right to terminate this Lease if all or any part participate in adjustment of the Premises is damaged losses as to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the casualty insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect settlement discussion relating to any rights casualty or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertycondemnation.

Appears in 1 contract

Samples: Ground Lease

Casualty Damage. If the Premises or any part thereof shall be damaged --------------- by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building or the Premises shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty (a) such that more than thirty percent (30%) reconstruction of the Building or the Premises is required, as determined by Landlord, or (b) regardless of the extent of damage, such damage is either uninsured or the insurance proceeds are unavailable or insufficient for Landlord to restore the Building or the Premises, Landlord may elect to either terminate this Lease or restore the Building or the Premises. In all other cases, Landlord shall promptly commence reconstruction repair subject to this Section 26. If Landlord elects to terminate the Lease, the estate created hereby shall terminate forty- five (45) days following the date of damage, and Base Rent due hereunder shall be abated as of the date of such damage. If Landlord elects to repair and restore the Building or the Premises, then Landlord shall proceed with reasonable diligence to restore the Building or the Premises (except Landlord shall not be responsible for delays outside of its control) to substantially the same condition existing immediately prior to the casualty. If Landlord is required to make any repairs or restorations pursuant to this Section 26, Landlord shall not be required to spend for such repairs or restoration an amount in excess of the insurance proceeds actually received by Landlord as a “Casualty”result of the casualty. If Landlord elects to repair or restore the Building or the Premises, then Tenant, within thirty (30) days after the date the damage occurred, may request in writing from Landlord an estimate of the time required to repair or restore the Building or the Premises. Landlord shall notify Tenant of Landlord's reasonable estimate of the time for restoration or repair. If Landlord estimates that the Premises or the Building cannot be restored within one hundred and eighty (180) days from the date that the damage occurred, then Tenant shall have five (5) business days from receipt of Landlord's estimate in which to terminate this Lease, which termination shall be effective as of the date the damage occurred. Landlord shall not be liable for any inconvenience or annoyance to Tenant, injury to the business of Tenant, loss of use of any part of the Premises by Tenant or loss of Tenant's personal property resulting in any way from such damage or the restoration thereof, except that, during any restoration, Landlord shall allow Tenant a fair diminution of Base Rent during the time and to the extent the Premises are unfit for occupancy. In no event shall Landlord be required to rebuild, repair or replace any part of the Tenant Improvements or Tenant's furniture, furnishings or fixtures and equipment except to the extent that Landlord actually receives insurance proceeds with respect to the damage of such property (Tenant acknowledges that Landlord is under no obligation to maintain insurance covering such property and that neither Landlord nor any of its representatives have made any representations or warranties to Tenant that Landlord intends to maintain any insurance covering such property). Tenant hereby waives the provisions of Sections 1932(2.), 1933(4.), 1941 and 1942 of the California Civil Code. Landlord or Tenant shall have the right to terminate this Lease if all or any part (a) the damage to the Premises occurs during the last year of the Premises term of this Lease, and (b) it is damaged to estimated by Landlord that the extent that it cannot reasonably be repaired within 120 necessary repairs will take more than ninety (90) days after from the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertydamage.

Appears in 1 contract

Samples: Lease Agreement (Ise Labs Inc)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (whether or not the Premises shall have been damaged by notice such casualty) or in the event there is less than two (2) years of the Lease Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within 60 ninety (90) days of after the date of such casualty. If Landlord does not thus elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to restore the fire or other casualty Building, and the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as Exhibit D (a “Casualty”)except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition in which it was immediately prior to the happening of the casualty. Notwithstanding the foregoing, Landlord’s obligation to restore the Building, and the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, shall not require Landlord to expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty and Landlord’s obligation to restore shall be further limited so that Landlord shall not be required to expend for the repair and restoration of the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, more than the dollar amount of the Allowance, if any, described in the Work Letter Agreement. When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to permit Tenant’s reoccupancy of the Premises. Notwithstanding anything set forth herein to the contrary, Tenant shall have a right to terminate this Lease by thirty (30) days notice to Landlord if all or (a) any part such casualty occurs during the last two (2) years of the Premises is damaged Term, (b) Landlord has elected not to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If terminate this Lease is not terminatedas set forth above, Landlord shall promptly and diligently restore but the Premises. Such restoration shall be repairs required herein are estimated to substantially the same condition that existed prior take longer than nine (9) months to the Casualtycomplete, except for modifications required by Law. However, in no event shall Landlord be required to spend more than or (c) the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds actually received by Landlord from as a result of such casualty are insufficient to pay for the repairs required herein and Landlord fails to provide funds for the insufficient amount. Except as set forth above, all cost and expense of reconstructing the Premises shall be borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord of Tenant’s insurance carrier, the excess cost of ability to pay such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided that , except that, Landlord shall allow Tenant is not in Default, a fair diminution of Rent during any period of the time that all or a material portion of and to the extent the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx are unfit for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyoccupancy.

Appears in 1 contract

Samples: Office Lease Agreement (Quest Resource Corp)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event there is less than two (2) years of the Lease Term remaining or in the event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building, and the improvements located within the Premises. Such restoration , if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as EXHIBIT "D" (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Budding, and the improvements located within the Premises, if any, for modifications required by Law. Howeverwhich Landlord had financial responsibility pursuant to the Work Letter Agreement, in no event shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty and Landlord's obligation to restore shall be further limited so that Landlord shall not be required to expend for the repair and restoration of the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, more than the dollar amount of the Allowance, if any, described in the Work Letter Agreement. Upon notice from When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to permit Tenant's reoccupancy of the Premises which Landlord is not obligated to restore as set forth above. Except as set forth above, all cost and expense of reconstructing the Premises shall be borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord (of Tenant's ability to pay such costs prior to Landlord's commencement of repair and restoration of the Premises. Tenant shall not be entitled to receive any credit or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance payment with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance portion of the repairsReconstruction Allowance not actually spent upon restoration of the Promises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Building is rendered untenantable as a result damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and EXHIBIT 10.6 Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Office Lease Agreement (Objectspace Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedcasualty, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be substantially to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined in Article 25.03), in no event except any other modifications to the common areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under any separate agreement signed by the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof (unless Tenant or its employees or agents caused the damage). Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period if the Property shall be materially damaged by Tenant or its employees or agents, or if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within 120 days after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than twenty-five percent (25%) of the Premises is rendered untenantable as a result of a Casualtyaffected by the damage, and fewer than twenty-four (24) months remain in the Rent shall xxxxx for Term, or any material damage occurs to the portion Premises during the last twelve (12) months of the Premises Term, (c) any Holder shall require that is untenantable and not the insurance proceeds or any portion thereof be used by Tenant. The provisions of this Leaseto retire the Mortgage (as defined in Article 25.07) debt (or shall terminate the ground lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage toas the case may be), or destruction ofthe damage is not fully covered by Landlord's insurance policies, all or any part (d) the cost of the Premisesrepairs, alterations, restoration or improvement work would exceed twenty-five percent (25%) of the replacement value of the Building, the Property or the Projectnature of such work would make termination of this Lease necessary or convenient. Tenant agrees that Landlord's obligation to restore, and any Lawsthe abatement of Rent provided herein, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall be Tenant's sole recourse in the absence event of an express such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. Tenant acknowledges that this Article represents the entire agreement between the parties, and any similar parties respecting damage to the Premises or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.. -------- --------- Tenant Landlord

Appears in 1 contract

Samples: Office Lease (Unison Software Inc)

Casualty Damage. Landlord, In the event the structure or other improvements on the leased premises or any portion thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other cause or casualty and in the event such damage can be reasonably repaired and restored within a period of ninety (a “Casualty”)90) days, this lease contract shall remain in force, but the rental reserved hereby shall xxxxx to the proportionate extent that the leased premises shall have been rendered unusable or untenantable by Lessee for the right to terminate this Lease if all purposes intended and for the period of time actually required for the performance of repairs and restoration. And in the case of such damage or injury, the proceeds of any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration casualty insurance paid or recovered shall be used and/or made available by Lessor to substantially pay the same condition that existed prior to costs of labor and materials for the Casualty, except for modifications required by Lawaccomplishment of such repairs and restoration. HoweverNevertheless, in no event shall Landlord Lessor be required to spend more than expend any sum in excess of the actual amount recovered from such insurance proceeds received toward the repair and restoration of the premises. Should the structures or other improvements located on the leased premises be completely or substantially destroyed or rendered untenantable or unusable by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or the Lessee for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord intended uses/purposes for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any a period of time that all in excess of ninety (90) days by reason of fire or a material portion other casualty this lease contract may be terminated by either party hereto upon ten (10) days notice in writing to the other party, in which event the rental due hereunder shall be adjusted to the date of the Premises is rendered untenantable occurrence of such fire or casualty. The Lessor shall have no responsibility whatsoever with regard to damage to or destruction of furniture, fixtures, machinery, and equipment of the Lessee or any third parties installed in or situated on the leased premises, regardless of the cause or reason for such damage or destruction. Any insurance payment or recovery made or had as a result of a Casualtyan insurable loss of or damage to the structures or other improvements located on the leased premises shall be used to return the structures and other improvements located on the leased premises, to the Rent shall xxxxx for condition substantially equal to or better than that existing at the portion time of the Premises that is untenantable and not used by Tenant. The provisions inception of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect lease. Any insurance payment or recovery made or had by reason or damage to any and all damage to, or destruction ofof furnishings, all or any part of the Premisestrade fixtures, the Building, the Property or the Projectmachinery, and any Laws, including, without limitation, Sections 1932(2) equipment owned by Lessee shall be payable to and 1933(4) of shall be and belong to the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyLessee.

Appears in 1 contract

Samples: Lease Contract (Premier Finance Biloxi Corp)

Casualty Damage. 16.01 If all or any portion of the Premises becomes untenantable by fire or other casualty to the Premises (collectively a "CASUALTY"), Landlord, with reasonable promptness, shall cause a general contractor selected by Landlord to provide Landlord and Tenant with a written estimate of the amount of time required using standard working methods to Substantially Complete the repair and restoration of the Premises (excluding any Leasehold Improvements, the repair of which will be carried by Tenant) and any Common Areas necessary to provide access to the Premises ("COMPLETION ESTIMATE"). If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 270 days from the date of casualty, then either party shall have the right to terminate this Lease upon written notice to the other within 10 days after receipt of the Completion Estimate; if the ground floor retail portion of the Premises (i.e., Suite 100 and, after the expiration of the Suite 150 Lease (as defined in EXHIBIT F), Suite 150 (as defined in EXHIBIT F) is the only portion of the Premises that is affected by a Casualty but, pursuant to the Completion Estimate, the damage cannot be repaired within 270 days following the date of Casualty, Tenant will have the right to terminate this Lease with respect to the ground floor retail portion of the Premises only, by written notice delivered in accordance with the preceding sentence. If Tenant so terminates this Lease with respect to the ground floor portion of the Premises, Landlord will promptly prepare an amendment to this Lease removing the ground floor of the Premises from the Premises, and the parties will mutually execute such amendment. Tenant, however, shall not have any right to terminate this Lease if the Casualty was caused by the gross negligence or intentional misconduct of Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within 60 90 days of after the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part if: (1) the Premises have been materially damaged and there is less than 2 years of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after Term remaining on the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition ; (2) any Mortgagee requires that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over be applied to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance payment of the repairs. Landlord shall mortgage debt; or (3) a material uninsured loss to the Building occurs (Landlord's failure to maintain the insurance coverage required hereunder cannot be liable used as a basis for any inconvenience establishing an uninsured loss). Landlord's termination of this Lease pursuant to this Section 16.01 will be conditioned on Landlord similarly terminating the leases of all Building tenants (x) who are similarly affected by such damage and (y) pursuant to whose leases Landlord has a termination right substantially similar to the termination right set forth herein. Notwithstanding the foregoing to the contrary, if Landlord elects to terminate this Lease pursuant to clause (1) above, and Tenant, within ten (10) Business Days following delivery of Landlord's termination notice, delivers an Initial Renewal Notice pursuant to Section 3 or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that 4 of EXHIBIT F attached hereto (and provided Tenant is not precluded from exercising the applicable Renewal Option pursuant to the provisions of Section 3.A or 4.A of EXHIBIT F [the restrictions on early notice provided in DefaultSections 3.A.(1) and 4.A.(1) of EXHIBIT F being waived solely in the circumstances described in this sentence], during any period of time that all or a material portion Landlord's exercise of the Premises right to terminate this Lease pursuant to clause (1) above will be null and void; however, (x) the foregoing will not preclude Landlord from exercising any other termination option described in this Section 16.01 and (y) if Tenant's exercise of any Renewal Option as described herein is subsequently rendered untenantable null and void as a result described in the final sentence of a CasualtySection 3.C or 4.C of EXHIBIT F, Landlord will once again have the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of right to terminate this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease Agreement (Umpqua Holdings Corp)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedcasualty, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined in Article 25), in no event any other modifications to the common areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under any separate agreement signed by the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof. Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period if the Property shall be materially damaged by Tenant or its employees or agents, or if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within 120 days after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than 25% of the Premises is rendered untenantable as a result of a Casualtyaffected by the damage, and fewer than 24 months remain in the Rent shall xxxxx for Term, or any material damage occurs to the portion Premises during the last, 12 months of the Premises Term, (c) any Holder (as defined in Article 25) shall require that is untenantable and not the insurance proceeds or any portions thereof be used by Tenant. The provisions of this Leaseto retire the Mortgage debt (or shall terminate the ground lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage toas the case may be), or destruction ofthe damage is not fully covered by Landlord's insurance policies, all or any part (d) the cost of the Premisesrepairs, alterations, restoration or improvement work would exceed 25% of the replacement value of the Building, or the nature of such work would make termination of this Lease necessary or convenient. Tenant may elect to terminate this Lease by notifying Landlord in writing of such termination if the Property shall be damaged by fire or other casualty or cause such that repairs to the ProjectPremises and access thereto can not reasonably be completed within 120 days after the casualty or if in fact repairs to the Premises and access thereto are not in fact completed within 120 days after the casualty, provided Tenant makes such election within ten (10) days of notice from the Landlord of the estimated date of completion of such repairs (which notice Landlord shall give not later than sixty (60) days after the date of such casualty) or within ten (10) days after the end of such 120-day period if the Premises or such access have not then been restored, but Tenant's election to terminate shall not be effective in the event Landlord completes such repairs so that the Premises are usable for Tenant's purposes and reasonable access thereto is provided within thirty (30) days of Tenant's election to terminate. Tenant agrees that Landlord's obligation to restore, and any Lawsthe abatement of Rent provided herein, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall be Tenant's sole recourse in the absence event of an express such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. Tenant acknowledges that this Article represents the entire agreement between the parties, and any similar parties respecting damage to the Premises or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Agreement (Corechange Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 sixty (60) days of the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 one hundred twenty (120) days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently diligently, restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by LandlordLaws. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 thirty (30) days of demand, Tenant shall also pay Landlord for any additional excess costs relating to Leasehold Improvements that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, business resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Notwithstanding the foregoing, and without limiting Tenant’s obligations, to pay to Landlord any cost of restoration of the Leasehold Improvements in excess of the proceeds of Tenant’s Insurance, in the event that Landlord does not receive sufficient insurance proceeds to complete all required restoration work, whether due to an uninsured Casualty, requirements of a Mortgagee, or otherwise, then Landlord shall have the right to terminate this Lease by written notice to Tenant. The provisions of this Lease, including this Section 1517, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the ProjectDevelopment, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyDevelopment.

Appears in 1 contract

Samples: Office Lease Agreement (SI-BONE, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days lire or other casualty that substantial alteration or reconstruction of the date Building shall, in Landlord's sole opinion, be required (whether or not the Premises shall have been damaged by such fire or other casualty) or in the event any mortgagee under a mortgage or deed of trust covering the Building should require that the insurance proceeds payable as a result of said fire or other casualty (a “Casualty”)he used to return the mortgage debt, shall have the right to Landlord may, at its option, terminate this Lease if all or any part and the term and estate hereby granted by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 sixty (60) days after the date of such damage, in which event the CasualtyBase Rent hereunder shall be abated as of the date of such damage. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly within seventy-five (75) days after the date of such damage commence to repair and diligently restore the Premises. Such restoration Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualty, happening of the casualty; except for modifications required by Law. However, in no event that Landlord shall Landlord not be required to spend more than the insurance proceeds received rebuild, repair, or replace any part of Tenant’s furniture or furnishings or of fixtures and equipment removable by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit provisions of Tenant; provided if this Lease, but such work shall not exceed the estimated cost to repair such Leasehold Improvements exceeds scope of the amount of insurance proceeds received work done by Landlord from Tenant’s insurance carrier, in originally constructing the excess cost of such repairs shall be paid by Building and installing standard office finish and the Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during improvements in the performance of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent proportionate to the amount of space that is unusable during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant’s agents, employees, or invitees the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost and expense of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building cause thereby to the Building, the Property extent such cost and expense is not covered by insurance proceeds. Any insurance which may be carried by landlord or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect Tenant against loss or damage to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or to the PropertyPremises shall be for the sole benefit of the party carrying such insurance and under its sole control.

Appears in 1 contract

Samples: Lease Agreement (Wilson Holdings, Inc.)

Casualty Damage. 16.01 If all or any portion of the Premises becomes untenantable by fire or other casualty to the Premises (collectively a "Casualty"), Landlord, with reasonable promptness, shall cause a general contractor selected by Landlord to provide Landlord and Tenant with a written estimate of the amount of time required using standard working methods to Substantially Complete the repair and restoration of the Premises and any Common Areas necessary to provide access to the Premises ("Completion Estimate"). If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 180 days from the date the repair is started, then either party shall have the right to terminate this Lease upon written notice to the other within 10 days after receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate this Lease if the Casualty was caused by the negligence or intentional misconduct of Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within 60 90 days of after the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all if: (1) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the Casualty; (2) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or any part (3) a material uninsured loss to the Building occurs. In addition to Landlord's right to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises is has been damaged to the extent that it by Casualty and such damage cannot reasonably be repaired within 120 60 days after receipt of the Completion Estimate; (b) there is less than 18 months of the Term remaining on the date of such Casualty; (c) the Casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within 45 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease Agreement (Autonomy Corp PLC)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. If the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch damage. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications that Landlord's obligation to restore shall not exceed the scope of the work required to be done by Law. HoweverLandlord in originally constructing the Building and installing Shell Improvements (as described in the Work Letter) in the Premises, in no event nor shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLandlord as a result of the casualty. Upon notice from When the Shell Improvements have been restored by Landlord, Tenant shall assign or endorse over complete the restoration with an "allowance" (the "Reconstruction Allowance") to pay for reconstruction of the Premises to Building Standard, such Reconstruction Allowance to be in dollar amount equal to the actual cost to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for of providing the benefit of Tenant; Allowance Items provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrierpursuant to the Work Letter. Except for reconstruction of the Shell Improvements by Landlord and the Reconstruction Allowance, all cost and expense of reconstructing the excess cost of such repairs Premises to Building Standard shall be paid borne by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsTenant. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, employees or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by Landlord's insurance proceeds.

Appears in 1 contract

Samples: Lease Agreement (Video Without Boundaries Inc)

Casualty Damage. LandlordWith reasonable promptness after discovering any damage to the Premises, by notice or to Tenant within 60 days of the date of Common Areas necessary for access to the Premises, resulting from any fire or other casualty (a “Casualty”), Landlord shall have notify Tenant of Landlord’s reasonable estimate of the right time required to substantially complete repair of such damage (the “Landlord Repairs”). If, according to such estimate, the Landlord Repairs cannot be substantially completed within 210 days after they are commenced, either party may terminate this Lease if all upon 60 days’ notice to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering any damage to the Project resulting from any Casualty, Landlord may, whether or any part of not the Premises is damaged affected, terminate this Lease by notifying Tenant if (i) any Security Holder terminates any ground lease or requires that any insurance proceeds be used to pay any mortgage debt; (ii) any damage to Landlord’s property is not fully covered by Landlord’s insurance policies; (iii) Landlord decides to rebuild the extent Building or Common Areas so that it cannot reasonably or they will be repaired within 120 days after substantially different structurally or architecturally; (iv) the date damage occurs during the last 12 months of the CasualtyTerm; or (v) any owner, other than Landlord, of any damaged portion of the Project does not intend to repair such damage. If this Lease is not terminatedterminated pursuant to this Section 11, Landlord shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of Force Majeure. The Landlord Repairs shall restore the Premises. Such restoration shall be Premises and the Common Areas necessary for access to the Premises to substantially the same condition that existed prior to when the CasualtyCasualty occurred, except for (a) any modifications required by Law. HoweverLaw or any Security Holder, in no event shall Landlord be required and (b) any modifications to spend more than the insurance proceeds received Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair use of or access to the Premises. Upon notice from LandlordNotwithstanding Section 10.4, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlordits designee) all property insurance proceeds payable to Tenant under Tenant’s Insurance insurance required under Section 10.2 with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided -Insured Improvements, and if the estimated or actual cost to repair such Leasehold of restoring any Tenant-Insured Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the Tenant shall pay such excess cost of such repairs shall be paid by Tenant to Landlord prior to within 15 days after Landlord’s commencement of repairsdemand. Within 15 days of demand, Tenant No Casualty and no restoration performed as required hereunder shall also pay render Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, constitute a constructive eviction, or injury to excuse Tenant from any obligation hereunder; provided, however, that if the Premises or any Common Area necessary for Tenant’s businessaccess to the Premises is damaged by a Casualty, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Defaultthen, during any period time that, as a result of time that all or a material such damage, any portion of the Premises is rendered untenantable as a result of a Casualtyor inaccessible and is not occupied by Tenant, the Monthly Rent shall xxxxx for be abated in proportion to the rentable square footage of such portion of the Premises Premises. If Landlord does not substantially complete the Landlord Repairs on or before the Outside Restoration Date (defined below), then, provided that is untenantable the Casualty was not caused by the negligence or willful misconduct of Tenant or any party claiming by, through or under Tenant, Tenant may terminate this Lease by notifying Landlord within 15 days after the Outside Restoration Date. As used herein, “Outside Restoration Date” means the date occurring 60 days after the expiration of the time set forth in Landlord’s estimate described in the first sentence of this Section 11; provided, however, that the Outside Restoration Date shall be extended to the extent of (i) any delay caused by the insurance adjustment process; (ii) any other delay caused by events of Force Majeure (up to 90 days), and not used (iii) any delay caused by Tenant or any party claiming by, through or under Tenant. The provisions Notwithstanding the foregoing, if Landlord determines in good faith that it will be unable to substantially complete the Landlord Repairs on or before the Outside Restoration Date, Landlord may cease its performance of this Lease, including this Section 15, constitute an express agreement between the Landlord Repairs and provide Tenant with respect to any notice (the “Restoration Date Extension Notice”) stating such inability and all damage toidentifying the date on which Landlord reasonably believes such substantial completion will occur, or destruction of, all or any part of in which event Tenant may terminate this Lease by notifying Landlord within five (5) business days after receiving the PremisesRestoration Date Extension Notice. If Tenant does not terminate this Lease within such 5-business day period, the Building, Outside Restoration Date shall be automatically amended to be the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction date identified in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyRestoration Date Extension Notice.

Appears in 1 contract

Samples: Office Lease (Quinstreet, Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if A. If all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlordfire or other casualty, Tenant shall assign or endorse over to immediately notify Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairsin writing. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualtyfire or other casualty, the Rent shall xxxxx abate for the portion of the Premises that is untenantable and untenantabxx xxd not used by Tenant. The provisions Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building lasting more than 180 days shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, including in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord (plus the applicable deductible amount, provided that Landlord shall in no event be required to spend the deductible amount in the event of damage by earthquake or acts of terrorism), provided that if Landlord does not have sufficient insurance proceeds (taking into account the applicable deductible amount, provided that Landlord shall in no event be required to spend the deductible amount in the event of damage by earthquake or acts of terrorism) to substantially complete the restoration of the Leasehold Improvements in the Premises and Landlord elects not to fund any shortfall, Landlord shall so notify Tenant and Tenant, within 10 days thereafter, shall have the right to terminate this Section 15, constitute an express agreement between Lease by the giving of written notice to Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant with respect hereby waive the provisions of any Law relating to any the matters addressed in this Article, and all agree that their respective rights for damage to, to or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction Premises shall be those specifically provided in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyLease.

Appears in 1 contract

Samples: Office Lease Agreement (Inktomi Corp)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, LESSEE shall give prompt written notice thereof to LESSOR, If the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, In LESSOR's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event any mortgagee of LESSOR'S should require that the Insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material uninsured loss to the Building. LESSOR may at its option , terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired by notifying LESSEE in writing on such termination within 120 ninety (90) days after the date of the Casualtysuch damage. If LESSOR does not thus elect to terminate this Lease is not terminated, Landlord Lease. LESSOR shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications that LESSOR'S obligation to restore shall not exceed the scope of the work required to be done by Law. HoweverLESSOR in originally constructing the Building and installing [ILLEGIBLE] (as described [ILLEGIBLE] the Work Letter but not including replacement of acoustical ceiling tiles) in the Premises, in no event nor shall Landlord LESSOR be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLESSOR as a result of the casualty. Upon notice from LandlordWhen the Shelf [ILLEGIBLE] have been restored by LESSOR, Tenant LESSEE shall assign or endorse over complete the restoration of the Premises to Landlord Building Standard and the restoration of LESSEE'S furniture and equipment. LESSOR shall, subject to the last sentence of this paragraph, provide LESSEE with an allowance (or the "Reconstruction Allowance") to any party designated by Landlord) all property insurance proceeds payable pay for reconstruction of the Premises to Tenant under Tenant’s Insurance with respect Building Standard, such Reconstruction Allowance to any Leasehold Improvements performed by or for be in a dollar amount equal to the benefit of Tenant; provided if the estimated actual original cost to repair such Leasehold Improvements exceeds LESSOR of providing the amount Allowance items provided by LESSOR pursuant to the Work Letter. Except for reconstruction of insurance proceeds received the [ILLEGIBLE] by Landlord from Tenant’s insurance carrierLESSOR and the Reconstruction Allowance, all cost and expense of reconstructing the excess cost of such repairs Premises to Building Standard shall be paid borne by Tenant to Landlord prior to Landlord’s commencement of repairsLESSEE. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord LESSOR shall not be liable for any inconvenience or [ILLEGIBLE] to Tenant, LESSEE or injury to Tenant’s business, the business of LESSEE resulting in any way from the Casualty such damage or the repair thereof, except that, such termination to be effective 30 days from Lessee's receipt of such notice. Provided that Tenant is not **plus any increase in Defaultthe cost of living, commencing with the [ILLEGIBLE]. [ILLEGIBLE] to the provisions of the next sentence, LESSOR sha[ILLEGIBLE]w LESSEE a fair diminution of rent during the time and to [ILLEGIBLE] xlent the Premises are unfit for occupancy. If the [ILLEGIBLE] or any period of time that all or a material other portion of the Premises is rendered untenantable as a result building be damaged [ILLEGIBLE] or other casualty resulting from the fault or negligence,[ILLEGIBLE] LESSEE or any of a CasualtyLESSEE'S agents, employees, or [ILLEGIBLE], the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage, and LESSEE shall be liable to LESSOR for the portion entire cost of the Premises that repair and restoration of Building caused thereby to the extent such cost and expense is untenantable and not used covered by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyLESSOR's insurance proceeds.

Appears in 1 contract

Samples: Lease Agreement (Panamerican Bancorp)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case Building 2 shall be so damaged by fire or other casualty that substantial alteration or reconstruction of Building 2 (i.e., alteration or reconstruction which is estimated to cost in excess of the product found by multiplying the rentable area in square feet of Building 2 by $5.00) shall, in the judgment of an independent architect selected by Landlord, be required (whether or not the Premises shall have been damaged by notice such fire or other casualty), or in the event any mortgagee under a first mortgage or first deed of trust covering Building 2 should require that substantially all of the insurance proceeds payable as a result of said fire or other casualty be used to retire the mortgage debt, or in the event of the occurrence of a casualty which is not insured under the fire and extended coverage insurance required to be carried pursuant to the terms of Section 20, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within 60 ninety (90) days after the date of such damage or determination by such a mortgagee to take the proceeds, in which event the Rent, Basic Operating Costs and Taxes hereunder shall be abated as of the date of such termination. If Landlord does not elect to terminate this Lease, Landlord shall within ninety (90) days after the date of such damage, commence to repair and restore Building 2 and shall proceed with reasonable diligence to restore Building 2 to substantially the same condition which it was in immediately prior to the happening of the fire or other casualty casualty, except that Landlord shall not be required to rebuild, repair, or replace any part of Tenant's furniture, fixtures and equipment removable by Tenant under the provisions of this Lease or any Alterations, unless insurance proceeds from Landlord's or Tenant's property insurance are available to rebuild the Alterations. If Landlord determines that insurance proceeds available to Landlord will be insufficient to restore Building 2 as required by this Section 24, Landlord may, at its option, elect to either (a “Casualty”), shall have the right to i) terminate this Lease by written notice to Tenant, or (ii) provide the extra funds necessary to complete the restoration; provided, however, Landlord shall restore if all or Tenant provides the necessary extra funds. If Landlord receives insufficient funds and elects therefore not to restore it shall so notify Tenant and Tenant shall have 30 days to elect to provide the extra funds needed. If Building 2 is to be restored each of Landlord and Tenant shall contribute the insurance proceeds it received and retained (net of any part of costs and expenses incurred in obtaining the Premises is damaged same) to the extent that it cancost of such restoration. If Tenant does not reasonably be repaired elect to provide the necessary extra funds the Lease shall terminate. In the event Landlord does not either (i) commence the repairs to Building 2 within 120 the time required herein, or (ii) complete the repairs to Building 2 within one hundred eighty (180) days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlordsuch damage, Tenant shall assign or endorse over may terminate the Lease by written notice thereof to Landlord given no later than thirty (30) days following the date on which Landlord was to commence or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for complete such repairs, as the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairscase may be. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided that , except that, Landlord shall allow Tenant is not in Defaulta proportional abatement of Rent, during any period Basic Operating Costs and Taxes from the date of damage until the time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property are restored or the Project, and Lease is terminated. Landlord agrees to use reasonably diligent good faith efforts to have its mortgagees agree to allow the insurance proceeds from any Laws, including, without limitation, Sections 1932(2) and 1933(4) casualty of the California Civil Code, with respect Building 2 to any rights be used to restore such damaged or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertydestroyed improvements.

Appears in 1 contract

Samples: Lease Agreement (Mykrolis Corp)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedcasualty, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined in Article 25), any other modifications to the common areas reasonably determined to be made by Landlord (provided access to the Premises or the parking facility servicing the Building is not materially impaired without providing reasonably comparable substitute facilities taking into account the change in no event location), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations 1888 Century Park East [SCPIE Holdings Lease] 15 or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under this Lease or any separate agreement signed by the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof (but abatement shall be limited to Landlord's rent loss insurance proceeds if Tenant or its employees or agents caused the damage). Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within ninety (90) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within one hundred fifty (150) days after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than 25% of the Premises is rendered untenantable as a result of a Casualtyaffected by the damage, and fewer than 24 months remain in the Rent shall xxxxx for Term, or any material damage occurs to the portion Premises during the last 12 months of the Premises Term, (c) any Holder (as defined in Article 25) shall require that the insurance proceeds or any substantial portion thereof be used to retire the Mortgage debt (or shall terminate the ground lease, as the case may be), or the damage is untenantable and not used fully covered by Tenant. The provisions of Landlord's insurance policies (provided Landlord has maintained the insurance required under this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to), or destruction of, all or any part (d) the cost of the Premisesrepairs, alterations, restoration or improvement work would exceed 25% of the replacement value of the Building, the Property or the Projectnature of such work would make termination of this Lease necessary. Tenant agrees that Landlord's obligation to restore, and the abatement of Rent provided herein, shall be Tenant's sole recourse in the event of such damage, and waives any Lawsother rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property, including, without limitation, Sections 1932(2) and 1933(4) of the including all rights under California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the partiesSections 1932(2), 1933(4), and any similar 1942, as the same may be modified or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyreplaced hereafter.

Appears in 1 contract

Samples: Office Lease (Scpie Holdings Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building or the Project shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building or the Project, as the case may be, shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the extent that it cannot reasonably be repaired payment of the mortgage debt; or (5) a material uninsured loss to the Building or the Project occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 120 90 days after the date of the Casualtycasualty. If Landlord does not terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to repair and restore the Premises. Such restoration shall be to substantially Building and the same condition Leasehold Improvements (excluding any Alterations that existed prior to the Casualty, except for modifications required were performed by LawTenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience loss or damage to Tenant, 's Property or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty fire or other casualty or from the repair thereofand restoration of the damage. Provided Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that Tenant is not in Default, during any period of time that all their respective rights for damage to or a material portion destruction of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of be those specifically provided in this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease Agreement (Marketfirst Software Inc)

Casualty Damage. Landlord, if the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event any mortgagee of the Building should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, may, at its option, terminate this Lease if all or any part by notifying in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch damage. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications that Landlord’s obligation to restore shall not exceed the scope of the work required to be done by Law. HoweverLandlord at Landlord’s expense in originally constructing the Building and installing the Tenant improvements, in no event nor shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by Landlord as a result of the casualty. When the portions of the Premises originally furnished at Landlord. Upon notice from ’s expense have been restored by Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under shall, at Tenant’s Insurance with respect to any Leasehold expense, complete the restoration of the Premises, including the reconstruction of all improvements in excess of those Tenant Improvements performed by or for originally installed at Landlord’s expense, and the benefit restoration of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsfurniture and equipment. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyProject be damaged by fire or other casualty resulting from the negligence of Tenant or any of Tenant’s agents, employees, or invitees, the rent hereunder shall not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Building or the Project caused thereby to the extent such cost and expense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Lease Agreement (First Trinity Financial CORP)

Casualty Damage. (a) During the Term hereof, if the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days of the date of the fire or other casualty that substantial alteration or reconstruction of the Building shall be required (a “Casualty”whether or not the Premises shall have been damaged by such fire or other casualty), shall have (i) if such damage cannot be repaired within two hundred seventy (270) days thereafter, as reasonably determined by Landlord, (ii) if any mortgagee under a mortgage or deed of trust covering the right Building requires that the insurance proceeds payable as a result of said fire or other casualty be used to retire or reduce such mortgage debt, or (iii) if such damage is not covered by insurance carried by Landlord or required to be carried by Landlord under this Lease, Landlord may, at its option, terminate this Lease if all or any part and the term and estate hereby granted by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 fifty (50) days after the date of such damage, in which event the CasualtyRent shall be abated as of the date of such damage. If this Lease is not terminatedLandlord elects to repair the Premises and/or the Building, Landlord shall promptly within sixty (60) days after the date of such damage commence to repair and diligently restore the Premises. Such restoration Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for required to rebuild, repair or replace any inconvenience to Tenant, or injury to part of Tenant’s business, resulting in any way from furniture and furnishings or fixtures and equipment removable by Tenant under the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between but such work shall not exceed the scope of the work done by Landlord and in originally constructing the Building. Tenant with respect shall not be entitled to any compensation or damages from Landlord, and all damage toLandlord shall not be liable, or destruction of, all for any loss of the use of the whole or any part of the Premises, the Building, Tenant’s personal property, or any inconvenience or annoyance occasioned by such loss of use, damage, repair, reconstruction or restoration, except that, Landlord shall allow Tenant a diminution of Rent during the Property time and to the extent the Premises are unfit or unavailable for occupancy. Any insurance which may be carried by Landlord or Tenant against loss or damage to the ProjectBuilding or to the Premises shall be for the sole benefit of the party carrying such insurance and under its sole control. Tenant hereby specifically waives any and all rights it may have under any law, statute, ordinance or regulation to terminate the Lease by reason of casualty or damage to the Premises or Building, and any Lawsthe parties hereto specifically agree that the Lease shall not automatically terminate by law upon destruction of the Premises. Except as otherwise provided in this Section 22, including, without limitation, Tenant hereby waives the provisions of Sections 1932(2) ), 1933(4), 1941 and 1933(4) 1942 of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Standard Lease Agreement (Health Net Inc)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event there is less than two (2) years of the Lease Term remaining or in the event Landlord's mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building, and the improvements located within the Premises. Such restoration , if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as EXHIBIT E (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Building, and the improvements located within the Premises, if any, for modifications required by Law. Howeverwhich Landlord had financial responsibility pursuant to the Work Letter Agreement, in no event shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty and Landlord's obligation to restore shall be further limited so that Landlord shall not be required to expend for the repair and restoration of the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, more than the dollar amount of the Allowance, if any, described in the Work Letter Agreement. Upon notice from When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to permit Tenant's reoccupancy of the Premises. Except as set forth above, all cost and expense of reconstructing the Premises shall be borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost 's ability to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Property is rendered untenantable as a result damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Property caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Industrial Building Lease Agreement (Intelliready Inc /Co/)

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Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event there is less than one year of the Lease Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building, and the improvements located within the Premises. Such restoration , if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as Exhibit D (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Building, and the improvements located within the Premises, if any, for modifications required by Law. Howeverwhich Landlord had financial responsibility pursuant to the Work Letter Agreement, in no event shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty and Landlord's obligation to restore shall be further limited so that Landlord shall not be required to expend for the repair and restoration of the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, more than the dollar amount of the Allowance, if any, described in the Work Letter Agreement. Upon notice from When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to permit Tenant's reoccupancy of the Premises. Except as set forth above, all cost and expense of reconstructing the Premises shall be borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost 's ability to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Property is rendered untenantable as a result damaged by fire or other casualty resulting from the willful misconduct or gross negligence of a CasualtyTenant or any of Tenant's agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Property caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Office Lease Agreement (Great Basin Scientific, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days of the date of the fire or other casualty that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”whether or not the Premises shall have been damaged by such fire or other casualty), shall have the right to Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of such damage, in which event the CasualtyRent shall be abated as of the date of such damage. If Landlord does not elect to terminate this Lease is not terminatedLease, and provided insurance proceeds and any contributions from Tenant, if necessary, are available to fully repair the damage, Landlord shall promptly within seventy-five (75) days after the date of such damage commence to repair and diligently restore the Premises. Such restoration Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty; provided, except for modifications required by Law. However, in no event Landlord shall Landlord not be required to spend more than the insurance proceeds received rebuild, repair, or replace any part of Tenant's furniture, furnishings, fixtures and/or equipment removable by Landlord. Upon notice from LandlordTenant or any improvements, Tenant shall assign alterations or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed additions installed by or for the benefit of Tenant; provided if Tenant under the estimated cost provisions of this Lease. Landlord shall not in any event be required to repair spend for such Leasehold Improvements exceeds work an amount in excess of the amount of insurance proceeds (excluding any deductible) and any contributions from Tenant, if necessary, actually received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance as a result of the repairsfire or other casualty. Landlord shall not be liable for any inconvenience or annoyance to Tenant, or injury to the business of Tenant’s business, loss of use of any part of the Premises by the Tenant or loss of Tenant's personal property resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in DefaultNotwithstanding anything to the contrary contained herein, during if the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the intentional or negligent acts or omissions of a CasualtyTenant or any of Tenant's Representatives, (i) the Rent shall xxxxx not be diminished during the repair of such damage, (ii) Tenant shall not have any right to terminate this Lease due to the occurrence of such casualty or damage, and (iii) Tenant shall be liable to Landlord for the cost and expense of the repair and restoration of all or any portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, Building caused thereby (including, without limitation, any deductible) to the extent such cost and expense is not covered by insurance proceeds. In the event the holder of any indebtedness secured by the Premises requires that the insurance proceeds be applied to such indebtedness, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within thirty (30) days after the date of notice to Tenant of any such event, whereupon all rights and obligations shall cease and terminate hereunder except for those obligations expressly intended to survive any such termination of this Lease. Except as otherwise provided in this Section 27, Tenant hereby waives the provisions of Sections 1932(2) .), 1933(4.), 1941 and 1933(4) 1942 of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Lease Agreement (Interlink Electronics)

Casualty Damage. LandlordSeller shall give notice (a "Casualty Notice") to Buyer reasonably promptly after the occurrence of any damage to the improvements on the Property by any casualty, by which notice to Tenant within 60 days shall include Seller's reasonable estimate of the date restoration costs. If, before the Closing Date, the Improvements are damaged by (a) any insured casualty and the cost to restore such Improvements, as reasonably determined by Seller, is more than twenty-five percent (25%) of the fire or other casualty Purchase Price (a “Casualty”the "Insured Casualty Threshold"), or (b) any casualty not covered by insurance and the cost to restore such Improvements, as reasonably determined by Seller, is more than $500,000 (the "Uninsured Casualty Threshold"), Buyer shall have the right right, by giving notice to Seller within thirty (30) days after receipt of the Casualty Notice, to terminate this Lease Agreement, in which event this Agreement shall terminate and the Deposit shall be returned to Buyer. If necessary, the Closing Date shall be postponed until Seller has given any notice to Buyer required by this Section 6.2 and the period for any corresponding election by Buyer described in this Section 6.2 has expired. If, before the Closing Date, the Property is damaged by a casualty that does not result in a termination of this Agreement pursuant to the preceding sentence, then (i) with respect to an insured casualty, the insurance proceeds (or, if all or any part not theretofore received, the right to receive such proceeds), if any, payable on account of the Premises is damaged damage, exclusive of any proceeds of any business interruption or rent continuation insurance in respect of Seller's period of ownership, shall be transferred to Buyer, and the amount of any applicable insurance deductible to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration repair cost as reasonably determined by Seller shall be a credit to substantially Buyer against the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign Purchase Price or endorse over to Landlord (or to any party designated by Landlordii) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrieran uninsured casualty, the excess cost of repair costs for such repairs casualty as reasonably determined by Seller shall be paid by Tenant a credit to Landlord prior Buyer against the Purchase Price (not to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during exceed the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Uninsured Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyThreshold).

Appears in 1 contract

Samples: Purchase Agreement

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. If the Complex shall be so damaged by fire or other casualty that reconstruction of the Complex shall, by notice in Landlord’s reasonable opinion, require more than two hundred seventy (270) days to Tenant within 60 days of substantially complete following the date of the fire or other casualty (a “Casualty”)casualty, shall have the right to Landlord may, at its option, terminate this Lease if all or any part and the term and estate hereby granted by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 sixty (60) days after the date of the Casualtycasualty. In all events the Base Rental and all other rent hereunder shall be abated as of the date of such damage. If Landlord does not elect to terminate the Lease pursuant to the foregoing, Landlord shall deliver to Tenant within sixty (60) days after the date of the casualty a written good faith estimate, as verified by an independent architect or general contractor selected by Landlord, of the amount of time reasonably required to repair and restore the Premises, the Complex and access thereto (“Completion Estimate”). Tenant may terminate this Lease by giving Landlord written notice of termination within thirty (30) days after Tenant’s receipt of the Completion Estimate (such termination notice to include a termination date providing not more than ninety (90) days for Tenant to vacate the Premises), if: (a) the Completion Estimate estimates that Landlord’s repairs to the Premises, the Complex or access thereto cannot reasonably be completed within two hundred seventy (270) days after the casualty, or (b) more than twenty percent (20%) of the Building is affected by the damage and fewer than twelve (12) months remain in the Lease Term. If neither Landlord nor Tenant elect to terminate this Lease pursuant to the foregoing (or otherwise are not terminatedentitled to terminate this Lease pursuant to the foregoing), Landlord shall promptly commence to repair and diligently restore the Premises. Such restoration Complex and shall proceed with due diligence to restore the Complex (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty (including without limitation restoration of all Landlord’s Work), except for modifications required by Law. However, in no event that Landlord shall Landlord not be required to spend rebuild, repair, or replace any of the improvements comprising Tenant’s Work or any part of Tenant’s furniture or furnishings or fixture and equipment removable by Tenant under the provisions of this Lease or any improvements installed by Tenant. If Landlord fails to substantially complete Landlord’s repair and SUBLEASE AGREEMENT Page 00 XXX XXXXXX XXXXXXX BUILDING restoration obligations as set forth in the preceding sentence within 30 days of the completion date set forth in the Completion Estimate, Tenant may terminate this Lease by giving Landlord written notice of termination at any time thereafter, but prior to such substantial completion of such work (such termination notice to include a termination date providing not more than ninety (90) days for Tenant to vacate the insurance proceeds received Premises). Tenant agrees that promptly after completion of such work by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under will proceed with reasonable diligence and at Tenant’s Insurance with respect sole cost and expense to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to restore, repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrierand replace all alterations, the excess cost of such repairs shall be paid additions, improvements, fixtures and equipment installed by Tenant (provided that Tenant may elect to Landlord commence its restoration work prior to the completion of Landlord’s commencement of repairs. Within 15 days of demand, work provided such Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairswork is conducted in a manner so as to not unreasonable interfere with Landlord’s contractors). Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Complex be damaged by fire or other casualty resulting from the gross negligence or willful misconduct of a CasualtyTenant or any of Tenant’s agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage, and Tenant shall be liable to Landlord for the portion cost and expense of the Premises that repair and restoration of the Complex caused thereby to the extent such cost and expense is untenantable and not used covered by Tenant. The provisions insurance proceeds (unless the unavailability of insurance proceeds results from Landlord’s failure to maintain insurance coverages required under this Lease, including this Section 15, constitute an express agreement between ). Any insurance which may be carried by Landlord and or Tenant with respect against loss or damage to any and all damage to, the Complex or destruction of, all or any part to the Premises shall be for the sole benefit of the Premises, the Building, the Property or the Project, party carrying such insurance and any Laws, including, without limitation, Sections 1932(2) shall be under its sole control. Tenant shall use proceeds from insurance carried by Tenant to repair and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyrestore Tenant’s property.

Appears in 1 contract

Samples: Sublease Agreement (A. H. Belo Corp)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied in reduction of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch damage. If this Lease Landlord is not terminatedentitled to, or does not thus elect to terminate this Lease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualty, except for modifications required by Lawhappening of the casualty. However, in no event Landlord's obligation to restore shall not require Landlord be required to spend expend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds actually received by Landlord from Tenant’s as a result of the casualty. Except for such insurance carrierproceeds, all cost and expense of reconstructing the excess cost of such repairs Premises shall be paid borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord Landlord, of Tenant's ability to pay such costs prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance reconstruction of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Initials: SK ----------- GB ----------- Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Office Lease Agreement (Interphase Corp)

Casualty Damage. LandlordIf the Premises or any part thereof shall be damaged by fire or other casualty, Lessee shall give prompt written notice thereof to Lessor. In case the Building shall be so damaged by notice to Tenant fire or other casualty that substantial alteration or reconstruction of the Building shall, in Lessor’s sole opinion, be required (whether or not the Premises shall have been damaged by such fire or other casualty), Lessor may, at its option, terminate this Lease by notifying Lessee in writing of such termination within 60 sixty (60) days after the date of such damage, in which event the Rent shall be abated as of the date of such damage. If Lessor does not elect to terminate this Lease, Lessor shall within ninety (90) days after the date of such damage commence to repair and restore the Building and shall proceed with reasonable diligence to restore the Building (except that Lessor shall not be responsible for delays outside its control to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Lessor shall not be required to rebuild, repair or replace any part of Lessee’s furniture, furnishings or fixtures and equipment removable by Lessee or any improvements installed by Lessee under the provisions of this Lease. Lessor shall not in any event be required to spend for such work an amount in excess of the insurance proceeds actually received by Lessor as a result of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualtycasualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord Lessor shall not be liable for any inconvenience or annoyance to TenantLessee, or injury to Tenantthe business of Lessee, loss of use of any part of the Premises by the Lessee or loss of Lessee’s business, personal property resulting in any way from the Casualty such damage or the repair thereof, except to the extent due to the gross negligence or willful misconduct of Lessor or Lessor’s Agents, and except that, subject to the provisions of the next sentence, Lessor shall allow Lessee a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyLessee or any of Lessee’s agents, employees, or invitees, the Rent shall xxxxx not be diminished during the repair of such damage and Lessee shall be liable to Lessor for the portion cost and expense of the Premises that repair and restoration of the Building caused thereby to the extent such cost and expense is untenantable and not used covered by Tenantinsurance proceeds. The Except as otherwise provided in this Xxxxxxxxx 00, Xxxxxx hereby waives the provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) .), 1933(4.), 1941 and 1933(4) 1942 of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property. 27.

Appears in 1 contract

Samples: Sublease Agreement (Artisan Components Inc)

Casualty Damage. (a) During the Term hereof, if the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days of the date of the fire or other casualty that substantial alteration or reconstruction of the Building shall be required (a “Casualty”whether or not the Premises shall have been damaged by such fire or other casualty), shall have (i) if such damage cannot be repaired within ninety (90) days thereafter, as reasonably determined by Landlord, (ii) if any mortgagee under a mortgage or deed of trust covering the right Building requires that the insurance proceeds payable as a result of said fire or other casualty be used to retire or reduce such mortgage debt, or (iii) if such damage is not covered by insurance carried by Landlord, Landlord may, at its option, terminate this Lease if all or any part and the term and estate hereby granted by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 thirty (30) days after the date of such damage, in which event the CasualtyRent shall be abated as of the date of such damage. If this Lease is not terminatedLandlord elects to repair the Premises and/or the Building, Landlord shall promptly within forty five (45) days after the date of such damage commence to repair and diligently restore the Premises. Such restoration Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for required to rebuild, repair or replace any inconvenience to Tenant, or injury to part of Tenant’s business, resulting in any way from furniture and furnishings or fixtures and equipment removable by Tenant under the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between but such work shall not exceed the scope of the work done by Landlord and in originally constructing the Building. Tenant with respect shall not be entitled to any compensation or damages from Landlord, and all damage toLandlord shall not be liable, or destruction of, all for any loss of the use of the whole or any part of the Premises, the Building, Tenant’s personal property, or any inconvenience or annoyance occasioned by such loss of use, damage, repair, reconstruction or restoration, except that, subject to the Property provisions of the next sentence, Landlord shall allow Tenant a diminution of Rent on a square footage basis during the time and to the extent the Premises are unfit or unavailable for occupancy. If the ProjectPremises or any other portion of the Building are damaged by fire or other casualty resulting from the negligence of Tenant or any of Tenant’s agents, employees, or invitees, Tenant shall be liable to Landlord for the cost and expense of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the Premises shall be for the sole benefit of the party carrying such insurance and under its sole control. Tenant hereby specifically waives any and all rights it may have under any law, statute, ordinance or regulation to terminate the Lease by reason of casualty or damage to the Premises or Building, and any Lawsthe parties hereto specifically agree that the Lease shall not automatically terminate by law upon destruction of the Premises. Except as otherwise provided in this Section 22, including, without limitation, Tenant hereby waives the provisions of Sections 1932(2) ), 1933(4), 1941 and 1933(4) 1942 of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Lease Agreement (eHealth, Inc.)

Casualty Damage. LandlordExcept as provided below, in the event of partial or total destruction of the Premises during the Term by notice fire or other casualty, the Landlord shall, as promptly as practicable after receipt of any insurance proceeds available as a result of such casualty, repair, reconstruct or replace the portions of the Premises destroyed as nearly as possible to Tenant within 60 days their condition prior to such destruction, except that in no event shall the Landlord be obligated to expend more for such repair, reconstruction or replacement than the amounts of any such insurance proceeds actually received. During the period of such repair, reconstruction and replacement there shall be an equitable abatement of Basic Rent and Additional Rent hereunder for up to one (1) year from the date of such casualty in proportion to the loss of usable floor area in the Premises but only to the extent no action by the Tenant has voided or made uncollectible lost rentals insurance for the benefit of the Landlord covering such abatement. If the Building is so extensively destroyed by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all that an independent engineer or any part of architect certifies that the Premises is damaged to the extent that it cannot reasonably be repaired expected to be susceptible of repair, reconstruction or replacement within 120 a period of six (6) months from the date work were to commence thereon, or if any damage results from causes or risks not required to be insured against by the Landlord hereunder or if any Mortgagee refuses to make such net proceeds available for such repair, reconstruction or replacement, the Landlord may terminate this Lease by giving written notice to the Tenant within thirty (30) days after the date of such destruction. If, despite diligent efforts, the Casualty. If Landlord has been unable to restore the Premises to their condition prior to such destruction within nine (9) months following the date of such casualty, the Tenant may terminate this Lease is not terminatedby written notice to the Landlord. In the event of any such notice of termination, Landlord this Lease shall promptly terminate as of, and diligently restore the Premises. Such restoration Basic Rent and Additional Rent shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice appropriately apportioned through and abated from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrierand after, the excess cost date of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement notice of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertytermination.

Appears in 1 contract

Samples: Wave2Wave Communications, Inc.

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty, and if such casualty (does not cause a “Casualty”), shall have the right to terminate termination of this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedas hereinafter provided, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined in Article 25), in no event any other modifications to the common areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under of Tenant’s Insurance with respect to furniture, furnishings, fixtures or equipment, or any Leasehold Improvements performed by alterations or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid improvements made by Tenant or any improvements made to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs the Premises that are determined during above the performance of the repairsbase building condition. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, business resulting in any way from the Casualty such damage or the repair thereof. Provided However, Landlord shall allow Tenant a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof including a reasonable period not to exceed one hundred twenty (120) days to permit Tenant to restore Tenant’s improvements and alterations which are not Landlord’s responsibility hereunder. Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in writing of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises) if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within one hundred twenty (120) days after the casualty without the payment of overtime or other premiums, (b) more than twenty-five percent (25%) of the Premises is affected by the damage, and fewer than 24 months remain in the Term, or any material damage occurs to the Premises during the last 12 months of the Term, (c) any Holder (as defined in Article 25) shall require that the insurance proceeds or any portion thereof be used to retire the Mortgage debt (or shall terminate the ground lease, as the case may be), or the damage is not fully covered by Landlord’s insurance policies, or (d) the cost of the repairs, alterations, restoration or improvement work would exceed forty percent (40%) of the replacement value of the Building. Tenant agrees that Landlord’s obligation to restore, and the abatement of Rent provided herein shall be Tenant’s sole recourse in the event of such damage and Tenant waives any other rights Tenant may have under any applicable law to terminate the Lease by reason of damage to the Premises or Property. Tenant acknowledges that this Article represents the entire agreement between the parties respecting damage to the Premises or Property. Notwithstanding anything to the contrary contained in this Article 10, Tenant may terminate this Lease if Tenant is not in Default, during any period of time that unable to use all or a material substantial portion of the Premises is rendered untenantable as a result of a Casualtyfire or other casualty and (a) Landlord fails to commence restoration work to the Premises within sixty (60) days after the damage occurs, or (b) Landlord fails to substantially complete such work within one hundred fifty (150) days after commencing the Rent same, or such additional time as may be necessary due to strikes, lock-outs or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages or other causes beyond Landlord’s reasonable control (collectively, “force majeure”), which time period for events of force majeure shall xxxxx for in no event exceed, in the portion aggregate, more than two hundred and ten (210) days, or (c) such work is reasonably estimated (which estimate Landlord shall provide within sixty (60) days following the casualty), to take more than one hundred eighty (180) days to substantially complete after being commenced, or (d) more than forty percent (40%) of the Premises that is untenantable affected by the damage, and not used by Tenantfewer than twelve (12) months remain in the Term. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect In order to exercise any and all damage to, or destruction of, all or any part of the Premisesforegoing termination rights, Tenant must send Landlord at least sixty (60) days (but not more than one hundred twenty (120) days) advance notice specifying the Building, the Property or the Projectbasis for termination, and any Laws, including, without limitation, Sections 1932(2such notice must be given no later than thirty (30) and 1933(4) days following the Landlord’s notice of the California Civil Code, with respect estimated time to any substantially complete the restoration work. Such termination rights or obligations concerning damage or destruction in shall not be available to Tenant if Landlord substantially completes the absence of an express agreement between repairs to the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyPremises within sixty (60) days after Tenant’s notice.

Appears in 1 contract

Samples: Office Lease (Huron Consulting Group Inc.)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedcasualty, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined In Article 25), in no event any other modifications to the common areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under any separate agreement signed by the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is not in Default, a proportionate abatement of Rent during any period of the time that all or a material portion of and to the extent the Premises is rendered untenantable are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof. Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in writing of such termination within sixty (60) days after the date of damage (such termination notice to include a Casualtytermination date providing at least ninety (90) days for Tenant to vacate the Premises), if the Rent Property shall xxxxx for be materially damaged by Tenant or its employees or agents, or if the portion Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within 120 days after the casualty without the payment of overtime or other premiums, (b) more than 25% of the Premises that premises is untenantable affected by the damage, and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage tofewer than 24 months remain in the Term, or destruction ofany material damage occurs to the Premises during the last, all 12 months of the Term, (c).any Holder (as defined in Article 25) shall require that the insurance proceeds or any part portions thereof be used to retire the Mortgage debt (or shall terminate the ground lease, as the case may be), or the damage is not fully covered Landlord's insurance policies, or (d) the cost of the Premisesrepairs, alterations, restoration or improvement work would exceed 25% of the replacement value of the Building, or the nature of such work would make termination of this Lease necessary or convenient. Tenant may elect to terminate this Lease by notifying Landlord in writing of such termination if the Property shall be damaged by fire or other casualty or cause such that repairs to the ProjectPremises and access thereto cannot reasonably be completed within 120 days after the casualty or if in fact repairs to the Premises and access thereto are not in fact completed within 120 days after the casualty, provided Tenant makes such election within ten (10) days of notice from the Landlord of the estimated date of completion of such repairs (which notice Landlord shall give not later than sixty (60) days after the date of such casualty) or within ten (10) days after the end of such 120-day period if the Premises or such access have not then been restored, but Tenant's election to terminate shall not be effective in the event Landlord completes such repairs so that the Premises are usable for Tenant's purposes and reasonable access thereto is provided within thirty (30) days of Tenant's election to terminate. Tenant agrees that Landlord's obligation to restore, and any Lawsthe abatement of Rent provided herein, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall be Tenant's sole recourse in the absence event such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of an express damage to the Premises or Property. Tenant acknowledges that this Article represents the entire agreement between the parties, and any similar parties respecting damage to the Premises or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Agreement (Corechange Inc)

Casualty Damage. Landlord, by Tenant shall give immediate written notice to Landlord of any damage caused to or suffered by the Premises or the Building. Tenant within 60 days shall be responsible for any subsequent waste which may occur to the Premises or the Building in the event Tenant fails to timely notify Landlord of any damage to the date of Premises or the fire Building. If the Premises or other casualty (a “Casualty”)the Building is totally destroyed, shall have the right to terminate this Lease if all or any part so partially damaged such that Tenant's use of the Premises is damaged materially interfered with, from a risk which is wholly covered by insurance proceeds made available to Landlord for such purpose, Landlord shall proceed with reasonable diligence to repair the extent damage or destruction, and the Lease shall not terminate; provided, however, that it if in the opinion of 33265500v4 Landlord's architect the rebuilding or repairs cannot reasonably be repaired completed within 120 one hundred eighty (180) days after the date of Landlord's actual knowledge of such damage, Landlord or Tenant may at its election terminate the CasualtyLease by delivering written notice of said election to the other party within thirty (30) days after receipt of the opinion of Xxxxxxxx's architect, in which event the rent payable for any unexpired portion of the Lease shall be abated, effective upon the date such damage occurred. If this the Premises or the Building is substantially damaged, in such a way that Tenant's use of the Premises is materially interfered with, from a risk not wholly covered by insurance made available to Landlord for repair or reconstruction, Landlord may terminate the Lease by delivering written notice of said termination to Tenant not later than forty-five (45) days after the casualty occurs, in which event all rights and obligations under the Lease shall cease and terminate, effective upon the date such damage occurred, except any liability of Tenant accruing prior to the Lease being terminated. If the Premises or the Building is substantially damaged during the final twenty-four (24) months of the Term or any renewal Term, Landlord shall not be required to rebuild or repair the damage to the Building or the Premises unless Tenant exercises a renewal option, if any, within fifteen (15) days after the date of receipt by Landlord of Tenant's notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option, or if there is no previously unexercised renewal option contained within the Lease, Landlord shall have the option to terminate the Lease, and rent shall be abated for the unexpired portion of the Term, effective upon the date such damage occurred. If the Lease is not terminatedterminated pursuant to the preceding paragraphs, then Landlord shall promptly proceed immediately and diligently restore shall use reasonable diligence to rebuild or repair the Premises. Such restoration shall be Building and the Premises to substantially the same condition that in which they existed prior to the Casualtydamage; provided, except for modifications required by Law. Howeverhowever, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience required to Tenantrebuild, repair, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or replace any part of the Premisespartitions, fixtures, additions, or other improvements or personal property required to be covered by Tenant's insurance described in article X above. If the Premises is untenable, in whole or in part, during the period beginning on the date such damage occurred, and ending on the date of substantial completion of Landlord's repair or restoration work, then, under such circumstances, the Buildingrent for such period shall be reduced to such extent as may be fair and reasonable under the circumstances, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyas reasonably determined by Landlord.

Appears in 1 contract

Samples: Lease Agreement (Power Solutions International, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building or the Premises shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty (a) such that more than thirty percent (30%) reconstruction of the Building or the Premises is required, as determined by Landlord, or (b) regardless of the extent of damage, such damage is either uninsured or the insurance proceeds are unavailable or insufficient for Landlord to restore the Building or the Premises, Landlord may elect to either terminate this Lease or restore the Building or the Premises. In all other cases, Landlord shall promptly commence reconstruction repair subject to this Section 26. If Landlord elects to terminate the Lease, the estate created hereby shall terminate forty-five (45) days following the date of damage, and Base Rent due hereunder shall be abated as of the date of such damage. If Landlord elects to repair and restore the Building or the Premises, then Landlord shall proceed with reasonable diligence to restore the Building or the Premises (except Landlord shall not be responsible for delays outside of its control) to substantially the same condition existing immediately prior to the casualty. If Landlord is required to make any repairs or restorations pursuant to this Section 26, Landlord shall not be required to spend for such repairs or restoration an amount in excess of the insurance proceeds actually received by Landlord as a “Casualty”)result of the casualty. If Landlord elects to repair or restore the Building or the Premises, then Tenant, within thirty (30) days after the date the damage occurred, may request in writing from Landlord an estimate of the time required to repair or restore the Building or the Premises. Landlord shall notify Tenant of Landlord's reasonable estimate of the time for restoration or repair.. If a casualty damages more than forty percent (40%) of the manufacturing area within the Premises and, as a result thereof, Tenant is not able to conduct its manufacturing operations in any portion of the Premises, then Tenant shall have the right to terminate this Lease if all Landlord estimates that the Premises cannot be restored within one hundred and twenty (120) days from the date the damage occurred. Tenant shall exercise (if at all) the aforesaid right to terminate within five (5) business days from receipt of Landlord's estimate, which termination shall be effective as of the date the damage occurred. Landlord shall not be liable for any inconvenience or annoyance to Tenant, injury to the business of Tenant, loss of use of any part of the Premises is damaged by Tenant or loss of Tenant's personal property resulting in any way from such damage or the restoration thereof, except that, during any restoration, Landlord shall allow Tenant a fair diminution of Base Rent during the time and to the extent that it cannot reasonably be repaired within 120 days after the date Premises are unfit for occupancy. It is the intent of the Casualty. If this Lease is not terminatedparties hereto that the original Tenant Improvements will be covered by the casualty insurance carried by Landlord on the Building and that, in the event of a casualty where Landlord elects or its otherwise required to restore or repair, Landlord shall promptly and diligently will restore the Premises. Such restoration shall be to substantially the same condition that existed prior or repair such improvements to the Casualtyextent of insurance proceeds which are actually available to Landlord for such purpose; provided, except for modifications required by Law. Howeverhowever, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlordrebuild, Tenant shall assign repair or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or replace any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.Altexx-

Appears in 1 contract

Samples: Lease Agreement (Avanex Corp)

Casualty Damage. LandlordIf the Premises or any part thereof shall be damaged by fire or other casualty, Lessee shall give prompt written notice thereof to Lessor. In case the Building shall be so damaged by notice to Tenant fire or other casualty that substantial alteration or reconstruction of the Building shall, in Lessor's reasonable opinion, be required (whether or not the Premises shall have been damaged by such fire or other casualty), Lessor may, at its option, terminate this Lease by notifying Lessee in writing of such termination within 60 sixty (60) days after the date of such damage, in which event the Rent shall be abated as of the date of such damage. If Lessor does not elect to terminate this Lease, Lessor shall within ninety (90) days after the date of such damage commence to repair and restore the Building and shall proceed with reasonable diligence to restore the Building (except that Lessor shall not be responsible for delays outside its control) to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Lessor shall not be required to rebuild, repair. or replace any part of Lessee's furniture, furnishings or fixtures and equipment removable by Lessee or any improvements installed by Lessee under the provisions of this Lease. Lessor shall not in any event be required to spend for such work an amount in excess of the insurance proceeds actually received by Lessor as a result of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualtycasualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord Lessor shall not be liable for any inconvenience or annoyance to TenantLessee, or injury to Tenant’s businessthe business of Lessee, loss of use of any part of the Premises or the Lessee's personal property resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Lessor shall allow Lessee a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyLessee or any of Lessee's agents, employees, or invitees, the Rent shall xxxxx not be diminished during the repair of such damage and Lessee shall be liable to Lessor for the portion cost and expense of the Premises that repair and restoration of the Building caused thereby to the extent such cost and expense of the repair and restoration of the Building caused thereby is untenantable and not used covered by Tenantinsurance proceeds. The Except as otherwise provided in this Xxxxxxxxx 00, Xxxxxx hereby waives the provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) ), 1933(4), 1941 and 1933(4) 1942 of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Lease Agreement (Monterey Pasta Co)

Casualty Damage. Landlord, If the Premises or any Common Areas providing access thereto shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”)casualty, shall have unless the right to terminate this Lease if all or any part lease of the Premises is damaged terminated as described below, Landlord shall restore the Premises to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premisesavailable insurance proceeds. Such restoration restoration, to the extent such proceeds permit, shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder which result in immaterial reconfiguration or de minimis reduction in area, in no event any other modifications to the Common Areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under any separate agreement signed by the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof. Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period or if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within one hundred and twenty days (120) after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than twenty-five percent (25%) of the Premises is rendered untenantable affected by the damage, and fewer than twenty-four (24) months remain in the Term, or any material damage occurs to the Premises during the last twelve (12) months of the Term, (c) any Holder shall require that the insurance proceeds or any portion thereof be used to retire the Mortgage debt (or shall terminate the ground lease, as a result the case may be), or the damage is not fully covered by Landlord's insurance policies, or (d) the cost of a Casualtythe repairs, alterations, restoration or improvement work would exceed twenty-five percent (25%) of the Rent replacement value of the Building. Tenant may elect to terminate this Lease by notifying Landlord in writing of such termination within sixty (60) days after the date of damage if the Property shall xxxxx for be damaged by fire or other casualty or cause such that: (a) repairs to the portion Premises and access thereto cannot reasonably be completed within three hundred sixty (360) days after the casualty, or (b) more than twenty-five percent (25%) of the Premises that is untenantable affected by the damage, and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage tofewer than twenty-four (24) months remain in the Term, or destruction of, all or any part material damage occurs to the Premises during the last twelve (12) months of the Premises, the Building, the Property or the ProjectTerm. Tenant agrees that Landlord's obligation to restore, and any Lawsthe abatement of Rent provided herein, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall be Tenant's sole recourse in the absence event of an express such damage, and waives any other rights Tenant may have under any applicable Laws to terminate the Lease by reason of damage to the Premises or Property. Tenant acknowledges that this Article 11 represents the entire agreement between the parties, and any similar parties respecting damage to the Premises or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease (Management Network Group Inc)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event there is less than two (2) years of the Lease Term remaining or in the event Landlord's mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building (excluding any leasehold improvements) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Building, and the improvements located within the Premises shall not require Landlord to expend for modifications required by Law. However, in no event shall Landlord be required to spend such repair and restoration work more than the insurance proceeds actually received by LandlordLandlord as a result of the casualty. Upon notice from When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over to Landlord (or to complete the restoration of all leasehold improvements and the installation of any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrierfurniture, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs fixtures and equipment that are determined during the performance necessary to permit Tenant's reoccupancy of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided , except that Tenant is not in Default, during any period of time that all or a material portion Rent shall be abated from the date of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx damage or destruction for the any portion of the Premises that is untenantable and not used unusable by Tenant. The provisions , which abatement shall be in the same proportion that the Rentable Area of this Lease, including this Section 15, constitute an express agreement between Landlord and the Premises that is unusable by Tenant with respect bears to any and all damage to, or destruction of, all or any part the total Rentable Area of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect ; provided that Tenant shall not be entitled to any rights or obligations concerning abatement of Rent if the damage or destruction in within the absence Premises is restored within five (5) Business Days after Landlord's receipt of an express agreement between written notice from Tenant of the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any occurrence of the damage or destruction to all or any part of the Premises, the Building or the Propertydestruction. 17.

Appears in 1 contract

Samples: Office Lease (Aveo Pharmaceuticals, Inc.)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord's sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event there is less than two (2) years of the Lease Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building, and the improvements located within the Premises. Such restoration , if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as Exhibit D (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Building, and the improvements located within the Premises, if any, for modifications required by Law. Howeverwhich Landlord had financial responsibility pursuant to the Work Letter Agreement, in no event shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty and Landlord's obligation to restore shall be further limited so that Landlord shall not be required to expend for the repair and restoration of the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, more than the dollar amount of the Allowance, if any, described in the Work Letter Agreement. Upon notice from When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall assign or endorse over complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to permit Tenant's reoccupancy of the Premises. Except as set forth above, all cost and expense of reconstructing the Premises shall be borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost 's ability to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Property is rendered untenantable as a result damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant's agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Property caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Office Lease Agreement

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion. be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event any mortgagee of the Building should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch damage. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications that Landlord’s obligation to restore shall not exceed the scope of the work required to be done by Law. HoweverLandlord at Landlord’s expense in originally constructing the Building and installing the Tenant Improvements, in no event nor shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by Landlord as a result of the casualty. When the portions of the Premises originally furnished at Landlord. Upon notice from ’s expense have been restored by Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under shall, at Tenant’s Insurance with respect to any Leasehold expense, complete the restoration of the Premises, including the reconstruction of all improvements in excess of those Tenant Improvements performed by or for originally installed at Landlord’s expense, and the benefit restoration of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsfurniture and equipment. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyProject be damaged by fire or other casualty resulting from the fault or negligence of Tenant or any of Tenant’s agents, employees, or invitees, the rent hereunder shall not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Building or the Project caused thereby to the extent such cost and expense is not covered by insurance proceeds.

Appears in 1 contract

Samples: Cityplex Towers Lease Agreement (Englobal Corp)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedcasualty, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially substantiate the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined in Article 25), in no event any other modifications to the common areas, deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrierunder any separate agreement signed by the parties in connection herewith, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof (unless Tenant or its employees or agents caused the damage). Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period if the Property shall be materially damaged by Tenant or its employees or agents, or if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within 120 days after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than 25% of the Premises is rendered untenantable as a result of a Casualtyaffected by the damage, and fewer than 24 months remain in the Rent shall xxxxx for Term, or any material damage occurs to the portion Premises during the last 12 months of the Premises Term, (c) any Holder (as defined in Article 25) shall require that is untenantable and not the insurance proceeds or any portion thereof be used by Tenant. The provisions of this Leaseto retire the Mortgage debt (or shall terminate the ground lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage toas the case may be), or destruction ofthe damage is not fully covered by Landlord's insurance policies, all or any part (d) the cost of the Premisesrepairs, alterations, restoration or improvement work would exceed 25% of the replacement value of the Building, the Property or the Projectnature of such work would make termination of this Lease necessary or convenient. Tenant agrees that Landlord's obligation to restore, and any Lawsthe abatement of Rent provided herein, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall be Tenant's sole recourse in the absence event of an express such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. Tenant acknowledges that this Article represents the entire agreement between the parties, and any similar parties respecting damage to the Premises or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Agreement (Industrial Training Corp)

Casualty Damage. Landlordto the Facility - Landlord Obligations and Options. In the event the Premises are damaged or destroyed or rendered partially unfit for occupancy by fire, by tornado, hurricane or other casualty, Tenant shall give immediate notice to Tenant within 60 days of the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration who shall be entitled to adjust the claim with the insurance carrier and thereafter proceed to repair the damage and restore such improvements with reasonable diligence to substantially the same condition that in which they existed immediately prior to the Casualtyoccurrence of the casualty; provided, except for modifications required by Law. Howeverhowever, that Landlord shall not be obligated to expend more in no event shall Landlord be required to spend more such restoration than the insurance proceeds received by Landlord. Upon notice from Landlordavailable as a result of such loss, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds plus the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, its deductible. If the excess cost of damage or destruction to the Premises is complete such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion substantially all (75% or more) of the Premises is rendered untenantable in the good faith judgment of Landlord's independent architect chosen to make such determination, or so substantial that an independent third party contractor or construction consultant designated by Landlord to make the determination for purposes hereof (the "DESIGNATED CONSTRUCTION EXPERT") determines that reconstruction of the Premises using standard construction scheduling will likely take in excess of two hundred seventy (270) days from the date of such determination (the last day of amount of time for restoration of the Premises as estimated by the Designated Construction Expert is herein called the "DATE OF PROJECTED COMPLETION" or, if the actual estimate of restoration time is less than 270 days from the date of the estimate, then the Date of Projected Completion will be deemed for purposes of Tenant's rights hereunder to be the 270th day from the date of the estimate), or if more than fifty percent (50%) of the tenant occupiable space in the entire Facility is rendered untenantable by the casualty in the good faith judgment of Landlord's independent architect, then Landlord may terminate this Lease, and in any such termination, rentals and other obligations shall be prorated to the date of termination (after taking into account any proration of rent during any partial tenantability following the casualty as provided below). A decision to repair or terminate shall be made by Landlord within forty-five (45) days after the casualty and if Landlord's Designated Construction Expert determines that reconstruction of the Premises will take in excess of two hundred seventy (270) days from the date of such determination or Landlord's independent architect determines that fifty percent (50%) or more of the Building area in the Facility or more than seventy-five percent (75%) of the Premises was rendered untenantable by the casualty, then Landlord will notify Tenant in writing within such 45-day period as to whether Landlord elects to terminate this Lease or to keep this Lease in effect (subject to Tenant's termination rights, below) and pursue completion of restoration of the Premises, which notice shall be accompanied by the estimate of the Date of Projected Completion by the Designated Construction Expert or determination of percent of untenantability by Landlord's architect, as applicable, if either ground is being used at the basis for Landlord's election to terminate or if Landlord is electing not to terminate but requires longer than two hundred seventy (270) days to complete such restoration work (such notice and required accompanying information being herein called the "LANDLORD'S ELECTION NOTICE"). If Landlord fails to timely give such Landlord's Election Notice, then Landlord shall be deemed to have elected not to terminate this Lease and the Date of Projected Completion will be deemed to be two hundred seventy (270) days from the end of its time to give such notice. If Landlord's settlement of its insurance claim with its insurer is not complete within thirty (30) days after the date on which Landlord receives the estimated Date of Projected Completion from the Designated Construction Expert, then Landlord will be entitled to automatic extension of the Date of Projected Completion for each day, up to thirty (30) additional days, that it takes to settle such claim. If a result decision is made (or deemed made) by Landlord to repair, such repairs shall be commenced and completed with reasonable diligence subject to events of force majeure or other events beyond Landlord's reasonable control, subject to Tenant's right of termination under certain circumstances specified below. Tenant shall contribute to Landlord in cash upon demand the replacement cost of any portions of the Premises that Tenant was required to insure, in each case whether or not Landlord elects to terminate this Lease, and such obligations of Tenant survive termination of this Lease. Landlord shall not be obligated to repair or replace (A) any alteration, fixture, addition or improvement added by Tenant except the Tenant Office Improvements (but only if the construction thereof has been fully completed by Tenant [otherwise to be covered by Tenant's or its contractor's builder's risk policy or Tenant' self-insurance and to be rebuilt by Tenant after completion of Landlord's work at Tenant's sole expense] and provided that a Casualtyset of as-built plans and specifications therefor have been provided to Landlord in CAD format), the Rent shall xxxxx for the (B) any of Tenant's property or contents, or (C) any portion of the Premises that Tenant is untenantable and not used by Tenantcommitted to Lease hereunder for at least a term of one year after the Date of Projected Completion. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any If part of the Premises, the Building, the Property or the Project, Temporary Office Space is damaged and any Laws, including, without limitation, Sections 1932(2) and 1933(4Tenant has not yet exercised its extension option under Paragraph 7(b) of the California Civil CodeEXHIBIT "E" and Tenant desires to require Landlord to restore such Temporary Office Space, with respect then Tenant shall notify Landlord of Tenant's binding election to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application exercise its right to extend this Lease as to that Office Space (or any damage or destruction relevant portion as to all or any part of the Premises, the Building or the Property.which such right may otherwise apply) within five (5) days after Landlord's written request; provided,

Appears in 1 contract

Samples: Lease Agreement (Suntron Corp)

Casualty Damage. LandlordIf the Leased Premises shall be destroyed or damaged by fire or any other casualty, by Tenant shall give notice thereof to Tenant within 60 days Landlord immediately upon becoming aware of the date of same. If the Leased Premises shall be damaged by fire or other insured casualty, so as to render the Leased Premises untenantable in whole or in part and to such an extent that Landlord determines that such damage can be repaired with the application of reasonable diligence within one hundred eighty (180) days, Tenant shall be entitled to a fair diminution of the rent hereunder until such time as the Leased Premises are made tenantable. If the Leased Premises or any other portion of the Building shall be destroyed or damaged by fire or any other casualty to such an extent that Landlord determines that such damage cannot be repaired with the application of reasonable diligence within one hundred eighty (180) days, and if the Leased Premises are rendered untenantable in whole or in part by reason of such casualty, then, at the option of Landlord, (i) Tenant shall be entitled to a “Casualty”)fair diminution of the rent hereunder until such time as the Leased Premises are made tenantable, shall have the right to or (ii) either party may terminate this Lease if all or any part of the Premises is damaged by written notice to the extent that it cannot reasonably be repaired within 120 other given no later than sixty (60) days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior casualty whereupon all rent accrued up to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost time of such repairs termination shall be paid by Tenant to Landlord. If the Leased Premises shall be destroyed or damaged by fire or any other casualty during the last two years of the Term such that the Leased Premises are not usable for the reasonable business operations of Tenant, then, at the option of Tenant, Tenant may terminate this Lease by written notice to Landlord prior given no later than sixty (60) days after the casualty. In addition to the foregoing, if for any cause the Leased Premises or Building shall be so damaged that Landlord shall in its sole judgment decide not to rebuild, then by notice in writing to Tenant by written notice to Tenant given no later than sixty (60) days after the casualty, this Lease shall forthwith terminate and all rent owed up to the time of such termination as set forth in such notice shall be paid by Tenant to Landlord’s commencement . In no event shall Landlord have any obligation to repair or restore any of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s businessgoods, resulting Trade Fixtures, furniture or other property placed in any way from or incorporated in the Casualty Leased Premises which is destroyed or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used damaged by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all fire or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyother casualty.

Appears in 1 contract

Samples: Lease Agreement (Soaring Eagle Acquisition Corp.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building or the Premises shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty (a) such that more than thirty percent (30%) reconstruction of the Building or the Premises is required, as determined by Landlord, or (b) regardless of the extent of damage, such damage is either uninsured or the insurance proceeds are unavailable or insufficient for Landlord to restore the Building or the Premises, Landlord may elect to either terminate this Lease or restore the Building or the Premises. In all other cases, Landlord shall promptly commence reconstruction repair subject to this Section 26. If Landlord elects to terminate the Lease, the estate created hereby shall terminate forty-five (45) days following the date of damage, and Base Rent due hereunder shall be abated as of the date of such damage. If Landlord elects to repair and restore the Building or the Premises, then Landlord shall proceed with reasonable diligence to restore the Building or the Premises (except Landlord shall not be responsible for delays outside of its control) to substantially the same condition existing immediately prior to the casualty. If Landlord is required to make any repairs or restorations pursuant to this Section 26, Landlord shall not be required to spend for such repairs or restoration an amount in excess of the insurance proceeds actually received by Landlord as a “Casualty”)result of the casualty. If Landlord elects to repair or restore the Building or the Premises, then Tenant, within thirty (30) days after the date the damage occurred, may request in writing from Landlord an estimate of the time required to repair or restore the Building or the Premises. Landlord shall notify Tenant of Landlord's reasonable estimate of the time for restoration or repair. If a casualty damages more than forty percent (40%) of the manufacturing area within the Premises and, as a result thereof, Tenant is not able to conduct its manufacturing operations in any portion of the Premises, then Tenant shall have the right to terminate this Lease if all Landlord estimates that the Premises cannot be restored within one hundred and twenty (120) days from the date the damage occurred. Tenant shall exercise (if at all) the aforesaid right to terminate within five (5) business days from receipt of Landlord's estimate, which termination shall be effective as of the date the damage occurred. Landlord shall not be liable for any inconvenience or annoyance to Tenant, injury to the business of Tenant, loss of use of any part of the Premises is damaged by Tenant or loss of Tenant's personal property resulting in any way from such damage or the restoration thereof, except that, during any restoration, Landlord shall allow Tenant a fair diminution of Base Rent during the time and to the extent that it cannot reasonably be repaired within 120 days after the date Premises are unfit for occupancy. It is the intent of the Casualty. If this Lease is not terminatedparties hereto that the original Tenant Improvements will be covered by the casualty insurance carried by Landlord on the Building and that, in the event of a casualty where Landlord elects or its otherwise required to restore or repair, Landlord shall promptly and diligently will restore the Premises. Such restoration shall be to substantially the same condition that existed prior or repair such improvements to the Casualtyextent of insurance proceeds which are actually available to Landlord for such purpose; provided, except for modifications required by Law. Howeverhowever, in no event shall Landlord be required to spend more than rebuild, repair or replace any part of any Alterations or other improvements constructed by, or of behalf of, Tenant or any of Tenant's furniture, furnishings or fixtures and equipment except to the extent that Landlord actually receives insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost damage of such repairs shall be paid by property (Tenant acknowledges that Landlord is under no obligation to maintain insurance covering such property and that neither Landlord prior nor any of its representatives have made any representations or warranties to Landlord’s commencement of repairsTenant that Landlord intends to maintain any insurance covering such property). Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during hereby waives the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) .), 1933(4.), 1941 and 1933(4) 1942 of the California Civil Code, with respect . Landlord or Tenant shall have the right to any rights or obligations concerning terminate this Lease if (a) the damage or destruction in to the absence Premises occurs during the last year of an express agreement between the partiesterm of this Lease, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part (b) it is estimated by Landlord that the necessary repairs will take more than ninety (90) days from the date of the Premises, the Building or the Propertydamage.

Appears in 1 contract

Samples: Lease Agreement (Avanex Corp)

Casualty Damage. 16.01 If all or any portion of the Premises becomes untenantable or inaccessible by fire or other casualty to the Premises or the Common Areas (collectively a “Casualty”), Landlord, with reasonable promptness, shall cause a general contractor selected by Landlord to provide Landlord with a written estimate of the amount of time required, using standard working methods, to substantially complete the repair and restoration of the Premises and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). Landlord shall promptly forward a copy of the Completion Estimate to Tenant. If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 180 days from the date the repair is started, then either party shall have the right to terminate this Lease upon written notice to the other within 10 days after Tenant’s receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate this Lease if the Casualty was caused by the negligence or intentional misconduct of Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within 60 90 days of after the date of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all if: (1) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the Casualty; (2) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or any part (3) a material uninsured loss to the Building or Premises occurs. Tenant also shall have the right to terminate this Lease by notice to Landlord if: (a) a substantial portion of the Premises is has been damaged to the extent that it by Casualty and such damage cannot reasonably be repaired within 120 60 days after receipt of the Completion Estimate; (b) there is less than 1 year of the Term remaining on the date of the Casualty; (c) the Casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance receipt of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyCompletion Estimate.

Appears in 1 contract

Samples: Office Lease Agreement (Versant Corp)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered reasonably unusable for the Permitted Use as a result of a fire or other casualty, the Rent shall abate for the portion of the Premises that is reasonably unusable for the Permitted Use and not used by Tenant. Landlord, by notice to Tenant within 60 90 days of after the date of the fire or other casualty (a “Casualty”)casualty, shall have the right to terminate this Lease if all or any part if: (1) the Premises have been materially damaged and there is less than 2 years of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after Term remaining on the date of the Casualtycasualty; (2) any Mortgagee (as defined in Article XXVI of this Lease) requires that the insurance proceeds be applied to the payment of the mortgage debt; or (3) subject to the last sentence of this Section XVII.A, a material uninsured loss to the Building occurs. If Notwithstanding the foregoing, with respect to clauses (2) and (3) above, by providing written notice to Landlord (the "Election Notice") within 10 days following the date Landlord notifies Tenant: (i) that a Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt, or (ii) of Landlord's determination that a casualty results in a material uninsured loss, as the case may be (and which notice Landlord shall provide to Tenant within a reasonable period of time following Landlord's determination thereof), Tenant may elect to pay the entire shortfall of all costs and expenses directly and indirectly related to the restoration of the Buildings in accordance with the terms of this Lease is not terminatedLease, including the costs of permits (the "Restoration Funds") and, following Landlord's receipt of the Restoration Funds, Landlord shall promptly have no right to terminate this Lease. If Tenant elects to pay for the restoration of the Buildings, Tenant shall deliver to Landlord the Restoration Funds within 30 days following the date Tenant delivers its Election Notice to Landlord. For purposes of this paragraph, an uninsured loss to the Building shall mean a casualty not covered by the insurance coverages required in this Lease, whether or not a party hereto maintained such insurance coverage. Notwithstanding the foregoing, Landlord will not be entitled to terminate this Lease solely because there is less than 2 years on the Term if Tenant has an exercisable right to renew or extend the Term and diligently Tenant, within 10 days after receipt of Landlord's notice of termination, validly exercises such right. The foregoing shall not prohibit Landlord from exercising its right to terminate for any of the other reasons set forth herein. Landlord shall not in bad faith terminate this Lease pursuant to the terms of this Section XVII.A solely for the purpose of replacing Tenant with a successor tenant. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Premises. Such restoration shall be to substantially Building and the same condition Leasehold Improvements (excluding any Alterations that existed prior to the Casualty, except for modifications required were performed by LawTenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or including deductible amounts) provided that Landlord carries the insurance required of Landlord pursuant to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit terms of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsthis Lease. Landlord shall not be liable for any inconvenience loss or damage to Tenant, 's Property or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty fire or other casualty or from the repair thereofand restoration of the damage. Provided Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that Tenant is not in Default, during any period of time that all their respective rights for damage to or a material portion destruction of the Premises shall be those specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Article XVII, if the total out of pocket cost to restore the 2051 Building and the 2061 Building, collectively, is rendered untenantable less than $500,000.00 in the aggregate, then Landlord shall not be entitled to terminate this Lease as a result provided in each of a Casualty, clause (2) and clause (3) above. In the Rent event that Landlord is entitled to terminate this Lease as provided herein and the circumstances are such that the entire 2061 Building shall xxxxx be made unusable for the portion Permitted Use by fire or other casualty but the 2051 Building has not been damaged by such casualty and remains usable for the Permitted Use, Landlord shall not terminate this Lease with respect to the 2051 Building only so long as, notwithstanding anything to the contrary contained herein, Landlord shall not incur any out of pocket costs or expenses in order to continue this Lease in effect solely with respect to the Premises that is untenantable and not used by Tenant2051 Building (the "Lease Continuation Costs"). The provisions of If Landlord would incur any such Lease Continuation Costs and, consequently, elects to terminate this Lease, including Landlord shall notify Tenant in writing of its election thereof (Landlord's "Casualty Termination Notice"); provided, however, that Tenant may elect to pay all such costs by providing written notice thereof to Landlord within 5 days following Tenant's receipt of Landlord's Casualty Termination Notice and, by further delivering to Landlord the Lease Continuation Costs within 10 days following Tenant's receipt of Landlord's Casualty Termination Notice and, in such event, Landlord shall not terminate this Section 15, constitute an express agreement between Landlord and Tenant Lease with respect to any and all damage to, or destruction of, all or any part of the Premises, the 2051 Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease Agreement (Actel Corp)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that in Landlord’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged by notice such casualty) or in the event Landlord will not be permitted by applicable law to Tenant within 60 days rebuild the Building in substantially the same form as existed prior to the fire or casualty or in the event the Premises has been materially damaged and there is less than two (2) years of the Lease Term remaining on the date of such casualty or in the fire event any Mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or other casualty (a “Casualty”)in the event of any material uninsured loss to the Building, shall have the right to Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of such casualty. Such termination shall be effective as of the Casualtydate of fire or casualty, with respect to any portion of the Premises that was rendered untenantable, and the effective date of termination specified in Landlord’s notice, with respect to any portion of the Premises that remained tenantable. If Landlord does not elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building (provided that Landlord shall not be required to restore any unleased premises in the Building) and the Leasehold Improvements (but excluding any improvements, alterations or additions made by Tenant in violation of this Lease) located within the Premises. Such restoration shall be , if any, which Landlord has insured to substantially the same condition that existed they were in immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord’s obligation to restore the Building, and the Leasehold Improvements, if any shall not require Landlord to expend for modifications required by Law. However, in no event shall Landlord be required to spend such repair and restoration work more than the insurance proceeds actually received by Landlordthe Landlord as a result of the casualty. Upon notice from When repairs to the Premises have been completed by Landlord, Tenant shall assign complete the restoration or endorse over replacement of all Tenant’s Property necessary to permit Tenant’s reoccupancy of the Premises, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under of Tenant’s Insurance with respect ability to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion except that, subject to the provisions of the Premises is rendered untenantable as next sentence, Landlord shall allow Tenant a result fair diminution of Rent on a Casualty, per diem basis during the Rent shall xxxxx for time and to the portion of extent any damage to the Premises that is causes the Premises to be rendered untenantable and not used by Tenant. The provisions If the Premises or any other portion of this Leasethe Building is damaged by fire or other casualty resulting from the negligence of Tenant or any Tenant Related Parties, including this Section 15the Rent hereunder shall not be diminished during any period during which the Premises, constitute an express agreement between or any portion thereof, is untenantable (except to the extent Landlord is entitled to be reimbursed by the proceeds of any rental interruption insurance), and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds. Landlord and Tenant with respect hereby waive the provisions of any law from time to time in effect during the Lease Term relating to the effect upon leases of partial or total destruction of leased property. Landlord and Tenant agree that their respective rights in the event of any and all damage to, to or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, Premises shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertybe those specifically set forth herein.

Appears in 1 contract

Samples: Office Lease Agreement (Correctional Services Corp)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedcasualty, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined in Article 25), in no event any other modifications to the common areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign repair or endorse over to Landlord (or to replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under the excess cost of such repairs shall be paid initial Work Agreement attached hereto as Exhibit B or under any separate agreement signed by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof (unless Tenant or its employees or agents caused the damage and then only to the extent such Rent abatement is not covered by Landlord's insurance). Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period if the Property shall be materially damaged by Tenant or its employees or agents, or if the Property shall be damaged by fire or other casualty or cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within 180 days after the casualty without the payment of time that all overtime or a material portion other premiums, (b) more than 40% of the Premises is rendered untenantable affected by the damage, and fewer than 15 months remain in the Term, as a result it nay have been extended, or any material damage occurs to the Premises during the last 12 months of a Casualtythe Term, as it may have been extended, (c) any Holder (as defined in Article 25) shall require that the insurance proceeds or any portion thereof be used to retire the Mortgage debt (or shall terminate the ground lease, as the case may be), or (d) the cost of the repairs, alterations, restoration or improvement work would exceed 25% of the replacement value of the Building. Tenant agrees that Landlord's obligation to restore, and the abatement of Rent provided herein, shall xxxxx for be Tenant's sole recourse in the event of such damage, although if Landlord has not, within sixty (60) days after the date of damage, given notice to Tenant of its intent to perform or not perform repairs, Tenant shall have the right to terminate the Lease by notice to Landlord. The abatement of Rent under this provision shall be based upon the ratio of the portion of the Premises that is damaged or otherwise rendered untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part the total rentable square footage of the Premises, Premises at the Building, time of such casualty. Tenant acknowledges that this Article represents the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express entire agreement between the parties, and any similar parties respecting damage to the Premises or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Lease Agreement (Capella Education Co)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event there is less than two (2) years of the Lease Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building, and the improvements located within the Premises. Such restoration , if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as Exhibit D (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualty, except for modifications required happening of the casualty. When the repairs described in the preceding two sentences have been completed by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under permit Tenant’s Insurance with respect to any Leasehold Improvements performed by or for reoccupancy of the benefit Premises. Except as set forth above, all cost and expense of Tenant; provided if reconstructing the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs Premises shall be paid borne by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsTenant. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Property is rendered untenantable as a result damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant’s agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the repair and restoration of the Premises that caused thereby to the extent such cost and expense is untenantable and not used covered by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyinsurance proceeds.

Appears in 1 contract

Samples: Office Lease Agreement (Graymark Healthcare, Inc.)

Casualty Damage. Landlord, by notice to Tenant within 60 days If the Premises or any common areas of the date of the Property providing access thereto shall be damaged by fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminatedcasualty, Landlord shall promptly and diligently use available insurance proceeds to restore the Premisessame. Such restoration shall be to substantially the same condition that existed prior to the Casualtycasualty, except for modifications required by Law. Howeverzoning and building codes and other Laws or by any Holder (as defined In Article 25), in no event any other modifications to the common areas deemed desirable by Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall Landlord not be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to repair of replace any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount 's furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of insurance proceeds received any work performed or paid for by Landlord from Tenant’s insurance carrier, under any separate agreement signed by the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsparties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to TenantTenant or its visitors, or injury to Tenant’s business, 's business resulting in In any way from the Casualty such damage or the repair thereof. Provided that However, Landlord shall allow Tenant is a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result thereof (unless Tenant or its employees or agents caused the damage). Notwithstanding the foregoing to the contrary, Landlord may elect to terminate this Lease by notifying Tenant in Defaultwriting of such termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), during any period if the Property shall be materially damaged by Tenant or its employees or agents, or if the Property shall be damaged by fire or other casualty of time that all cause such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within 120 days after the casualty without the payment of overtime or a material portion other premiums, (b) more than 25% of the Premises is rendered untenantable as a result of a Casualtyaffected by the damage, and fewer than 24 months remain in the Rent shall xxxxx for Term, or any material damage occurs to the portion Premises during the last 12 months of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.Term,

Appears in 1 contract

Samples: Office Lease (Southern Community Bancorp)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged by such casualty) or in the event any Mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building. Landlord may, at its option, unless the casualty resulted from any act or omission of Landlord or Landlord’s agents, servants or employees that constitutes negligence or willful misconduct, terminate this Lease by notice to notifying Tenant in writing of such termination within 60 ninety (90) days of after the date of such casualty. If, by reason of such casualty, the fire or other casualty Premises are rendered untenantable in some material portion, and the amount of time required to repair the damage is reasonably determined by Landlord to be in excess of one hundred eighty (a “Casualty”)180) days from the date upon which Landlord is required to determine whether to terminate this Lease, then Tenant shall have the right to terminate this Lease if all or any part by giving Landlord written notice of the Premises is damaged to the extent that it cannot reasonably be repaired termination within 120 thirty (30) days after the date Landlord delivers Tenant notice that the amount of time required to repair the Casualtydamage has been determined by Landlord to be in excess of one hundred eighty (180) days. If Landlord (or Tenant, if applicable) does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building to substantially the same condition that as existed immediately prior to the Casualtyoccurrence of the casualty, except for modifications that Landlord’s obligation to restore shall not exceed the scope of the work required to be done by Law. HoweverLandlord in originally constructing the Building Shell Improvements and installing the Tenant Improvements in the Premises, in no event nor shall Landlord be obligated to restore the Building Shell Improvements or the Premises if the cost of the restoration work required to spend more than under this Lease and all other leases of space in the Building exceeds the insurance proceeds actually received by Landlord as a result of the casualty unless the casualty resulted from any act or omission of Landlord or Landlord’s agents, servants or employees that constitutes gross negligence or willful misconduct. Upon Landlord shall notify Tenant promptly in writing if it does not intend to restore the premises for the reasons stated above. In such event, Tenant shall have the right to terminate this Lease by giving Landlord written notice from of termination within thirty (30) days after the date Landlord delivers Tenant notice that it does not intend to restore the Premises. When the Tenant Improvements have been restored by Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under restore Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsfurniture and equipment. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of rent during the time and to the extent the Premises or portion thereof are unfit for occupancy. Provided that Tenant is not in Default, during If the Premises or any period of time that all or a material other portion of the Premises Building is rendered untenantable as a result damaged by fire or other casualty resulting from the willful misconduct or gross negligence of a CasualtyTenant or any of Tenant’s agents, employees, or invitees, the Rent rent hereunder shall xxxxx not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the portion cost of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the Premises, Building caused thereby to the Building, the Property or the Project, extent such cost and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertyexpense are not covered by insurance proceeds.

Appears in 1 contract

Samples: Lease Agreement (North State Bancorp)

Casualty Damage. Landlord, If the Building and the Parking Facilities or any --------------- part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building or the Parking Facilities or both shall be so damaged that substantial alteration or reconstruction of same requiring more than two hundred seventy (270) days shall, in Landlord's sole but reasonable opinion, be required or in the event there is less than one (1) year of the Lease Term remaining or in the event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt, Landlord may (a “Casualty”or Tenant may, if the casualty was not attributable to an act or omission of Tenant, or Tenant's employees, agents, servants, customers or invitees), shall have the right to terminate this Lease if all or any part by notifying the other party in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of the Casualtysuch casualty. If neither Landlord nor Tenant elects to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration , the Building, the Parking Facilities and the Tenant Improvements, as applicable (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualty, except for modifications required happening of the casualty. When the repairs described in the preceding sentence have been completed by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over complete the restoration of all improvements, including furniture, and equipment, which are necessary to permit Tenant's reoccupancy of the Building. Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost 's ability to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsBuilding. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided that Tenant If the Building or the Parking Facilities, or both, is not in Default, during any period of time that all damaged by fire or a material portion of the Premises is rendered untenantable as a result of a Casualtyother casualty, the Rent rent hereunder shall xxxxx for be diminished during the portion repair of such damage to the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, extent the Building, the Property Parking Facilities or such portion thereof are unusable by Tenant for the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) conduct of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the PropertyTenant's business therefrom.

Appears in 1 contract

Samples: Office Lease Agreement (Netsolve Inc)

Casualty Damage. Tenant shall promptly notify Landlord or the Project Manager of any fire or other casualty to the Premises or to the extent it knows of damage, to the balance of the Building. In the event the Premises or any substantial part of the Building is wholly or partially damaged or destroyed by fire or other casualty which is fully covered by Landlord’s insurance and for which such insurance proceeds are made available to Landlord by its Lender, by notice Landlord will proceed to Tenant restore the same to substantially the same condition existing immediately prior to such damage or destruction unless such damage or destruction is incapable of repair or restoration within 60 two hundred ten (210) days of from the date of the fire or other casualty (a “Casualty”or ninety (90) days if the fire or other casualty occurs during the final one hundred eighty (180) days of the Term), as determined by Landlord, in which event Landlord may, at Landlord’s option and by written notice given to Tenant within sixty (60) days of such damage or destruction, declare this Lease terminated as of the happening of such damage or destruction. If in Landlord’s reasonable opinion the net insurance proceeds recovered by Landlord and made available by Landlord’s Lender by reason of the damage or destruction will not be adequate to complete the restoration of the Building, Landlord shall have the right to terminate this Lease if and all unaccrued obligations of the parties hereto by sending a notice of such termination to Tenant. To the extent that, after the fire or any part other casualty, Tenant shall be deprived of the use and occupancy of the Premises is or any portion thereof as a result of any such damage, destruction or the repair thereof, Tenant shall be relieved of the same ratable portion of the Monthly Rent hereunder as the amount of damaged or useless space in the Premises bears to the extent rentable square footage of the Premises until such time as the Premises may be restored; provided, however, that it canif Tenant or any Tenant Party caused the fire or other casualty, Monthly Rent shall not be reduced unless Tenant pays the deductible amount, if any, under Landlord’s rental loss insurance. Landlord shall reasonably be repaired determine the amount of damaged or useless space and the square footage of the Premises referenced in the prior sentence. In the event that (i) the Premises or any of the Common Areas necessary for Tenant to use and occupy the Premises are damaged or destroyed by fire or other casualty, (ii) Landlord reasonably determines that such damage or destruction is incapable of repair or restoration within 120 two hundred seventy (270) days after from the date of the Casualty. If fire or other casualty (or ninety (90) days if the fire or other casualty occurs during the final one hundred eighty (180) days of the Term), and (iii) Landlord does not exercise its right to terminate this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior pursuant to the Casualtyforegoing provisions, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, then Tenant shall assign or endorse over have the right to terminate this Lease as respects the applicable Building(s) by written notice to Landlord within fifteen (or to any party designated by Landlord15) all property insurance proceeds payable to Tenant under days after Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit receipt of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance written notice setting forth Landlord’s estimate of the repairsrepair and restoration period. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, hereby waives California Civil Code Sections 1932(2) and 1933(4) ), providing for termination of hiring upon destruction of the California Civil Codething hired and Sections 1941 and 1942, with respect providing for repairs to any rights or obligations concerning damage or destruction in the absence and of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertypremises.

Appears in 1 contract

Samples: Hortonworks, Inc.

Casualty Damage. LandlordWith reasonable promptness after discovering any damage to the Premises, by notice or to Tenant within 60 days of the date of Common Areas necessary for access to the Premises, resulting from any fire or other casualty (a “Casualty”), Landlord shall have notify Tenant of Landlord’s reasonable estimate of the right time required to substantially complete repair of such damage (the “Landlord Repairs”). If, according to such estimate, the Landlord Repairs cannot be substantially completed within 210 days after they are commenced, either party may terminate this Lease if all upon 60 days’ notice to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering any damage to the Project resulting from any Casualty, Landlord may, whether or any part of not the Premises is damaged affected, terminate this Lease by notifying Tenant if (i) any Security Holder terminates any ground lease or requires that any insurance proceeds be used to pay any mortgage debt; (ii) any damage to Landlord’s property is not fully covered by Landlord’s insurance policies; (iii) Landlord decides to rebuild the extent Building or Common Areas so that it cannot reasonably or they will be repaired within 120 days after substantially different structurally or architecturally; (iv) the date damage occurs during the last 12 months of the CasualtyTerm; or (v) any owner, other than Landlord, of any damaged portion of the Project does not intend to repair such damage. If this Lease is not terminatedterminated pursuant to this Section 11, Landlord shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of Force Majeure. The Landlord Repairs shall restore the Premises. Such restoration shall be Premises and the Common Areas necessary for access to the Premises to substantially the same condition that existed prior to when the CasualtyCasualty occurred, except for (a) any modifications required by Law. HoweverLaw or any Security Holder, in no event shall Landlord be required and (b) any modifications to spend more than the insurance proceeds received Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair access to the Premises. Upon notice from LandlordNotwithstanding Section 10.4, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlordits designee) all property insurance proceeds payable to Tenant under Tenant’s Insurance insurance required under Section 10.2 with respect to any Leasehold Tenant-Insured Improvements performed by or for the benefit of Tenant; provided and trade fixtures, and if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess or actual cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.restoring any

Appears in 1 contract

Samples: Office Lease (Coherus BioSciences, Inc.)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (whether or not the Premises shall have been damaged by notice such casualty) or in the event there is less than two (2) years of the Lease Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within ninety (90) days after the date of such casualty. Landlord shall deliver to Tenant within 60 days of the date of the fire or other casualty ninety (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 90) days after the date of the Casualtydamage, a reasonable estimate of the time required to repair and restore the Premises (the “Repair Estimate”). If Landlord does not thus elect to terminate this Lease is pursuant to the foregoing and Tenant does not terminatedelect to terminate this Lease as provided below, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Premises. Such restoration shall be Building, and the improvements located within the Premises to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. If as a result of such fire or casualty the Premises or any part thereof have been damaged or access to the Premises has been substantially impaired or denied, except and provided that the Repair Estimate states that repair and restoration thereof will not be completed within one hundred eighty (180) days after the date of the damage, Tenant may terminate this Lease by giving Landlord notice of termination within ten (10) days after the date Tenant receives the Repair Estimate. Notwithstanding the foregoing, Landlord’s obligation to restore the Building, and the improvements located within the Premises shall not require Landlord to expend for modifications required by Law. However, in no event shall Landlord be required to spend such repair and restoration work more than the insurance proceeds actually received by LandlordLandlord as a result of the casualty. Upon notice from When the repairs described in this paragraph have been completed by Landlord, Tenant shall assign or endorse over complete the restoration of all furniture, fixtures and equipment which are necessary to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under permit Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance reoccupancy of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided , except that Tenant is not in Default, during any period of time that all or a material portion Rent shall be abated from the date of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx damage or destruction for the any portion of the Premises that is untenantable and not used unusable by Tenant. The provisions , which abatement shall be in the same proportion that the Rentable Area of this Lease, including this Section 15, constitute an express agreement between Landlord and the Premises which is unusable by Tenant with respect bears to any and all damage to, or destruction of, all or any part the total Rentable Area of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect ; provided that Tenant shall not be entitled to any rights or obligations concerning abatement of Rent if the damage or destruction in the absence Premises is restored within five (5) Business Days after Landlord’s receipt of an express agreement between written notice from Tenant of the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any occurrence of the damage or destruction to all or any part of the Premises, the Building or the Propertydestruction.

Appears in 1 contract

Samples: Office Lease Agreement (Lpath, Inc)

Casualty Damage. Landlord, If the Premises or any part thereof shall be damaged by notice to Tenant within 60 days of the date of the fire or other casualty casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (a “Casualty”), whether or not the Premises shall have been damaged by such casualty) or in the right event there is less than two (2) years of the Lease Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 thirty (30) days after the date of the Casualtysuch casualty. If Landlord does not thus elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building, and the improvements located within the Premises. Such restoration , if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement attached hereto as Exhibit E (except that Landlord shall not be responsible for delays not within the control of Landlord) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord’s obligation to restore the Building, and the improvements located within the Premises, if any, for modifications required by Law. Howeverwhich Landlord had financial responsibility pursuant to the Work Letter Agreement, in no event shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty and Landlord. Upon notice from ’s obligation to restore shall be further limited so that Landlord shall not be required to expend for the repair and restoration of the improvements located within the Premises, if any, for which Landlord had financial responsibility pursuant to the Work Letter Agreement, more than the dollar amount of the Allowance, if any, described in the Work Letter Agreement When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall, complete the restoration of all improvements, including furniture, fixtures and equipment, which are necessary to permit Tenant’s reoccupancy of the Premises. Except as set forth above, all cost and expense of reconstructing the Premises shall assign or endorse over be borne by Tenant, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under of Tenant’s Insurance with respect ability to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy. Provided that If the Premises or any other portion of the Property is damaged by fire or other casualty resulting from the fault or negligence of Tenant or any of Tenant’s agents, employees, or invitees, the rent hereunder shall not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Property caused thereby to the extent such cost and expense is not covered by insurance proceeds. Notwithstanding anything in Defaultthis Article 18 to the contrary, during any period of time that if all or a material any portion of the Premises is rendered shall be made untenantable as a result by fire or other casualty, Landlord shall with reasonable promptness, cause an architect or general contractor selected by Landlord to estimate the amount of a Casualty, the Rent shall xxxxx for the portion time required to substantially complete repair and restoration of the Premises and make the Premises tenantable again, using standard working methods (the “Completion Estimate”). If the Completion Estimate indicates that the Premises cannot be made tenantable within nine (9) months from the date the repair and restoration is untenantable and started, either party shall have the right to terminate this Lease by giving written notice to the other of such election within ten (10) days after its receipt of the Completion Estimate. Tenant, however, shall not used have the right to terminate this Lease in the event that the fire or casualty in question was caused by the negligence or intentional misconduct of Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between If the Completion Estimate indicates that the Premises can be made tenantable within nine (9) months from the date the repair and restoration is started and Landlord and Tenant with respect has not otherwise exercised its right to any and all damage toterminate the Lease pursuant to the terms heroes, or destruction ofis the Completion Estimate indicates that the Premises cannot be made tenantable within nine (9) months but neither party terminates this Lease pursuant to this Article 18, all or any part of Landlord shall proceed with reasonable promptness to repair and restore the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease Agreement (Wageworks, Inc.)

Casualty Damage. If the Dwelling Unit is damaged by fire or other casualty, by the failure of or malfunction of any equipment or utilities serving the Dwelling Unit, Tenant shall promptly notify Landlord. If, in the sole determination of Landlord, such damage does not render the Dwelling Unit substantially impaired or require repairs requiring Tenant to vacate the Dwelling Unit, Landlord shall repair the same within a reasonable period of time after service upon Landlord of written notice of such damage by notice to Tenant within 60 days Xxxxxx, and Rent shall not xxxxx during the period of such repairs. If the date of the Dwelling Unit or any part thereof is damaged by fire or other casualty (a “Casualty”)to such an extent that use of the Dwelling Unit is substantially impaired, or required repairs can be made only by Tenant vacating the Dwelling Unit, in the sole determination of Landlord, either Landlord or Tenant shall have the right to terminate this the Lease if all or any part in accordance with the terms of Section 55-248.24 of the Premises is damaged VRLTA, and subject to the extent that it cannot reasonably be repaired within 120 days after the date Section 9(e) of the CasualtyLease. If this Lease is not terminatedLandlord shall account to Tenant for the Security Deposit and prepaid rent, as applicable, plus accrued interest on the Security Deposit (if any) based upon the damage or casualty. However, if Landlord reasonably believes that Xxxxxx, Xxxxxx’s guests, invitees or authorized occupants were the cause of the damage or casualty, Landlord shall promptly so notify Tenant and diligently restore make disposition of the Premises. Such restoration shall Security Deposit and prepaid rent by advising Tenant that such funds will be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit held until a determination is made of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received damages caused by Landlord from TenantXxxxxx’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairsacts. Landlord shall not be liable for any inconvenience have the right to Tenantapply the Security Deposit and prepaid rent to the damage so caused by Xxxxxx, Xxxxxx’s guests, invitees, or injury to Tenant’s businessauthorized occupants. Except as otherwise provided herein, resulting in any way Tenant and Landlord do hereby otherwise release each other from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all liability, loss, damage to, or destruction of, all or claim resulting from any part casualty and agree to secure from their insurers acknowledgement of the Premises, the Building, the Property or the Project, such release and any Laws, including, without limitation, Sections 1932(2) and 1933(4) a waiver of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertysubrogation.

Appears in 1 contract

Samples: Estate Residential Lease Agreement

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged by fire or other casualty that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (whether or not the Premises shall have been damaged by notice such fire or other casualty), or in the event any mortgagee under a mortgage or deed of trust covering the Building should require that the insurance proceeds payable as a result of said fire or other casualty be used to retire the mortgage debt, Landlord may, at its option, terminate this Lease and the term and estate hereby granted by notifying Tenant in writing of such termination within 60 sixty (60) days after the date of such damage, in which event the Base Rental hereunder shall be abated as of the date of such damage. If Landlord does not thus elect to terminate this Lease, Landlord shall within seventy-five (75) days after the date of such damage commence to repair and restore the Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair, or replace any part of Tenant’s furniture or furnishings or fixture and equipment removable by Tenant under the provisions of this Lease, but such work shall not exceed the scope of the work done by Landlord in originally constructing the Building and installing Building standard items in the Premises, nor shall Landlord in any event be required to spend for such work an amount in excess of the insurance proceeds actually received by Landlord as a result of the fire or other casualty (a “Casualty”), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairscasualty. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from such damage. If the Casualty Premises or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material other portion of the Premises is rendered untenantable as a result Building be damaged by fire or other casualty resulting from the fault or negligence of a CasualtyTenant or any of Tenant’s agents, the Rent employees, or invitees, Tenant shall xxxxx be liable to Landlord for the portion cost and expense of the Premises that is untenantable repair and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part restoration of the PremisesBuilding caused thereby to the extent such cost and expense is not covered by insurance proceeds. Any insurance, the Buildingwhich may be carried, the Property by Landlord or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect Tenant against loss or damage to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or to the PropertyPremises shall be for the sole benefits of the party carrying such insurance and under its sole control.

Appears in 1 contract

Samples: Office Lease Agreement (Directview Holdings Inc)

Casualty Damage. During the Term hereof, if the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord, . In case the Building shall be so damaged by notice to Tenant within 60 days of the date of the fire or other casualty that substantial alteration or reconstruction of the Building shall be required (a “Casualty”whether or not the Premises shall have been damaged by such fire or other casualty), shall have (i) if such damage cannot be repaired within ninety (90) days thereafter, as reasonably determined by Landlord, (ii) if any mortgagee under a mortgage or deed of trust covering the right Building requires that the insurance proceeds payable as a result of said fire or other casualty be used to retire or reduce such mortgage debt, or (iii) if such damage is not covered by insurance carried by Landlord, Landlord may, at its option, terminate this Lease if all or any part and the term and estate hereby granted by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 sixty (60) days after the date of such damage, in which event the CasualtyRent shall be abated as of the date of such damage. If this Lease is not terminatedLandlord elects to repair the Premises and/or the Building, Landlord shall promptly within sixty (60) days after the date of such damage commence to repair and diligently restore the Premises. Such restoration Building and shall proceed with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition that existed in which it was immediately prior to the Casualtyhappening of the casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for required to rebuild, repair or replace any inconvenience to part of Tenant, 's furniture and furnishings or injury to Tenant’s business, resulting in any way from fixtures and equipment removable by Tenant under the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between but such work shall not exceed the scope of the work done by Landlord and in originally constructing the Building. Tenant with respect shall not be entitled to any compensation or damages from Landlord, and all damage toLandlord shall not be liable, or destruction of, all for any loss of the use of the whole or any part of the Premises, the Building, Tenant's personal property, or any inconvenience or annoyance occasioned by such loss of use, damage, repair, reconstruction or restoration, except that, subject to the Property provisions of the next sentence, Landlord shall allow Tenant a diminution of Rent on a square footage basis during the time and to the extent the Premises are unfit or unavailable for occupancy to the Projectextent Landlord is able to collect from its own business income loss insurance policy. If the Premises or any other portion of the Building are damaged by fire or other casualty resulting from the negligence of Tenant or any of Tenant's agents, employees, or invitees, Tenant shall be liable to Landlord for the cost and expense of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the Premises shall be for the sole benefit of the party carrying such insurance and under its sole control. Tenant hereby specifically waives any and all rights it may have under any law, statute, ordinance or regulation to terminate the Lease by reason of casualty or damage to the Premises or Building, and the parties hereto specifically agree that the Lease shall not automatically terminate by law upon destruction of the Premises. Except as otherwise provided in this Section 22, and except if against any Laws, including, without limitation, other provision of the law or against public policy. Tenant hereby waives the provisions of Sections 1932(2) ), 1933(4), 1941 and 1933(4) 1942 of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Lease Agreement (American River Holdings)

Casualty Damage. Landlord, by notice to Tenant within Within 60 days of after discovering any damage to the date of Premises, or to the Common Areas necessary for access to the Premises, resulting from any fire or other casualty (a “Casualty”), Landlord shall have the right to terminate this Lease if all or any part notify Tenant of Landlord’s reasonable estimate of the Premises is damaged time required to substantially complete repair of such damage (the extent that it “Landlord Repairs”). If, according to such estimate, the Landlord Repairs cannot reasonably be repaired substantially completed within 120 180 days after the date of the damage (or 90 days in the event the damage occurs during the last 12 months of the Term), either party may terminate this Lease as of the date of the damage, upon written notice to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering any material damage to the Project resulting from any Casualty, Landlord may, whether or not the Premises is affected, terminate this Lease by notifying Tenant if (i) any Security Holder (other than Master Lessee or Xxxx) terminates any ground lease or requires that any insurance proceeds be used to pay any mortgage debt; (ii) any material damage to the Building is not fully covered by Landlord’s insurance policies, or insurance required to be covered by Landlord under the terms of this Lease; (iii) the damage is material to operation of the Building or Common Areas and damage occurs during the last 12 months of the Term. If this Lease is not terminatedterminated pursuant to this Section 11, Landlord shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of Force Majeure. The Landlord Repairs shall restore the Premises. Such restoration shall be Premises and the Common Areas necessary for access to and parking for the Premises to substantially the same condition that existed prior to when the CasualtyCasualty occurred, except for (a) any modifications required by Law. HoweverLaw or any Security Holder, in no event shall Landlord be required and (b) any modifications to spend more than the insurance proceeds received Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair access to or parking for the Premises. Upon notice from LandlordNotwithstanding Section 10.4, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlordits designee) all property insurance proceeds payable to Tenant under Tenant’s Insurance insurance required under Section 10.2 with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided -Insured Improvements, and if the estimated or actual cost to repair such Leasehold of restoring any Tenant-Insured Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, Landlord shall consult with Tenant and the parties shall use reasonable efforts to agree on replacement improvements at a cost in excess cost of insurance proceeds reasonably acceptable to Tenant. Tenant shall pay such repairs shall be paid by Tenant excess to Landlord prior to within 15 days after Landlord’s commencement delivery of repairs. Within 15 days of written demand, Tenant with reasonably detailed invoices and back-up documentation. No Casualty and no restoration performed as required hereunder shall also pay render Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, constitute a constructive eviction, or injury to excuse Tenant from any obligation hereunder; provided, however, that if the Premises or any Common Area necessary for Tenant’s businessaccess to the Premises is damaged by a Casualty, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Defaultthen, during any period time that, as a result of time that all or a material such damage, any portion of the Premises is rendered untenantable as a result of a Casualtyor inaccessible and is not occupied by Tenant, the Monthly Rent shall xxxxx for be abated in proportion to the rentable square footage of such portion of the Premises that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease (Netlogic Microsystems Inc)

Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged by notice such casualty) or in the event Landlord will not be permitted by applicable law to Tenant within 60 days rebuild the Building in substantially the same form as existed prior to the fire or casualty or in the event the Premises has been materially damaged and there is less than two (2) years of the Lease Term remaining on the date of such casualty or in the fire event any Mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or other casualty (a “Casualty”)in the event of any material uninsured loss to the Building, shall have the right to Landlord may, at its option, terminate this Lease if all or any part by notifying Tenant in writing of the Premises is damaged to the extent that it cannot reasonably be repaired such termination within 120 ninety (90) days after the date of such casualty. Such termination shall be effective as of the Casualtydate of fire or casualty, with respect to any portion of the Premises that was rendered untenantable, and the effective date of termination specified in Landlord's notice, with respect to any portion of the Premises that remained tenantable. If Landlord does not elect to terminate this Lease is not terminatedLease, Landlord shall promptly commence and diligently proceed with reasonable diligence to restore the Building (provided that Landlord shall not be required to restore any unleased premises in the Building) and the Leasehold Improvements (but excluding any improvements, alterations or additions made by Tenant in violation of this Lease) located within the Premises. Such restoration shall be , if any, which Landlord has insured to substantially the same condition that existed they were in immediately prior to the Casualtyhappening of the casualty. Notwithstanding the foregoing, except Landlord's obligation to restore the Building, and the Leasehold Improvements, if any shall not require Landlord to expend for modifications required by Law. However, in no event shall Landlord be required to spend such repair and restoration work more than the insurance proceeds actually received by Landlordthe Landlord as a result of the casualty. Upon notice from When repairs to the Premises have been completed by Landlord, Tenant shall assign complete the restoration or endorse over replacement of all Tenant's Property necessary to permit Tenant's reoccupancy of the Premises, and Tenant shall present Landlord with evidence satisfactory to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost 's ability to repair pay such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord costs prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance repair and restoration of the repairsPremises. Landlord shall not be liable for any inconvenience or annoyance to Tenant, Tenant or injury to Tenant’s business, the business of Tenant resulting in any way from the Casualty such damage or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion except that, subject to the provisions of the Premises is rendered untenantable as next sentence, Landlord shall allow Tenant a result fair diminution of Rent on a Casualty, per diem basis during the Rent shall xxxxx for time and to the portion of extent any damage to the Premises that is causes the Premises to be rendered untenantable and not used by Tenant. The provisions If the Premises or any other portion of this Leasethe Building is damaged by fire or other casualty resulting from the negligence of Tenant or any Tenant Related Parties, including this Section 15the Rent hereunder shall not be diminished during any period during which the Premises, constitute an express agreement between or any portion thereof, is untenantable (except to the extent Landlord is entitled to be reimbursed by the proceeds of any rental interruption insurance), and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds. Landlord and Tenant with respect hereby waive the provisions of any law from time to time in effect during the Lease Term relating to the effect upon leases of partial or total destruction of leased property. Landlord and Tenant agree that their respective rights in the event of any and all damage to, to or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, Premises shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Propertybe those specifically set forth herein.

Appears in 1 contract

Samples: Office Lease Agreement (RDC International Inc)

Casualty Damage. Landlord, by notice to Tenant within 60 days of the date of the fire or other casualty (a "Casualty"), shall have the right to terminate this Lease if all or any part of the Premises is damaged to the extent that it cannot reasonably be repaired within 120 days after the date of the Casualty. If this Lease is not terminated, Landlord shall promptly and diligently restore the Premises. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s 's Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s 's insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s 's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s 's business, resulting in any way from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall xxxxx abate for the portion of the Premises Pxxxxxes that is untenantable and not used by Tenant. The provisions of this Lease, including this Section 15, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building, the Property or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.

Appears in 1 contract

Samples: Office Lease Agreement (Ipex, Inc)

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