Casualty. If the Building should be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice. 11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy. 11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of: (1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy. 11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 4 contracts
Samples: Industrial Lease (Network Appliance Inc), Industrial Lease (Network Appliance Inc), Industrial Lease (Network Appliance Inc)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 4 contracts
Samples: Lease Agreement (Schrodinger, Inc.), Lease Agreement (Talk America Holdings Inc), Lease (Vantage Energy Services, Inc.)
Casualty. (a) If at any time during the term of this Lease, including any extension or renewal thereof, the Building should be is damaged or destroyed by fire or other casualty, Tenant then, unless this Lease is terminated by Landlord as hereinafter provided, Landlord shall give immediate be obligated to promptly commence, and thereafter prosecute with reasonable diligence, the reconstruction, restoration and repair of the Building and the Premises to a condition substantially equivalent to that existing immediately prior to the casualty. If the damage renders the Premises inaccessible or untenantable in whole or in part, the Rent provided for herein shall xxxxx thereafter as to the portion of the Premises so affected until such time as same is accessible and restored to a tenantable condition, as reasonably determined by Landlord.
(b) If (i) the Building is damaged to an extent that Landlord’s good faith estimate of the cost of reconstruction, restoration and repair thereof exceeds sixty percent (60%) of the replacement cost of the Building, (ii) the reconstruction, restoration and repair of the Premises or the Building cannot with reasonable diligence be completed within two hundred seventy (270) days after the casualty, or (iii) the casualty occurs during the last twelve (12) calendar months of the term of this Lease, then in any such event Landlord shall have the right, exercisable by written notice given to Landlord. Within Tenant at any time within thirty (30) days after receipt thereofthe occurrence of the casualty, to elect not to reconstruct, restore or repair the Premises, and in such event this Lease shall be terminated in all respects effective as of the date of the casualty, all Rent shall be prorated to the date of the casualty, and the parties hereto shall be released from any obligations thereafter accruing under this Lease (except as otherwise provided herein). Notwithstanding the foregoing, in the event the Premises or the Building is damaged by a casualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such casualty and Landlord shall notify estimates that the damage caused thereby cannot be repaired within two hundred ten (210) days after the casualty, which notice Landlord agrees to provide within forty-five (45) days after such casualty, then Tenant whether such repairs can reasonably be made: (1) may terminate this Lease by delivering written notice to Landlord of its election to terminate within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days after the notice from landlord of the date estimate of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only time needed to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage.
(c) Notwithstanding anything contained in this Section 6.3, in no event shall Landlord shall repair the Building, except that Landlord shall not be required to rebuildexpend more to reconstruct, restore and repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for than the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are amount actually received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building property insurance carried by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyLandlord.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 3 contracts
Samples: Lease Agreement (Q2 Holdings, Inc.), Lease Agreement (Q2 Holdings, Inc.), Lease Agreement (Q2 Holdings, Inc.)
Casualty. If In the Building should be event that less than fifty percent (50%) of the Premises is damaged or destroyed by fire fire, the elements, or any other cause or casualty, Tenant Lessor shall give immediate proceed with due diligence to repair the Premises (excluding any Lessee Alterations) to a condition as nearly equivalent as practicable to their condition immediately prior to such damage or destruction. Within fifteen (15) days of such damage or destruction, Lessor shall notify Lessee if the same can be so repaired within sixty (60) days of such damage or destruction. If such repairs are not, or if Lessor notifies Lessee that the same cannot be, completed as aforesaid within said sixty (60)-day period (including any and all periods of Excusable Delay), Lessee may, at Lessee's option, terminate this Lease as of the date of such damage or destruction upon written notice to LandlordLessor given no less than five (5) business days after Lessee's receipt of Lessor's notice or the expiration of said sixty (60)-day period, as the case may be. Upon termination of this Lease, all Rent paid in advance shall be apportioned as of the date of the damage or destruction. In the event that more than fifty percent (50%) of the Premises is damaged or destroyed by fire, the elements, or other cause or casualty, Lessor or Lessee shall have the option to terminate this Lease upon written notice given to the other party no later than ten (10) business days after the date of the occurrence of such damage or destruction. Any such termination shall be effective as of the date of such damage or destruction. If neither party elects to exercise its option to terminate, Lessor shall proceed with due diligence to repair the Premises (excluding any Lessee Alterations) to a condition as nearly equivalent as practicable to their condition immediately prior to such damage or destruction. Within thirty fifteen (3015) days after receipt thereofof such damage or destruction, Landlord Lessor shall notify Tenant whether such repairs Lessee if the same can reasonably be made: (1) so repaired within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from of such damage or destruction. If such repairs are not, or if Lessor notifies Lessee that the same cannot be, completed as aforesaid within said ninety (90)-day period (including any and all periods of Excusable Delay), Lessee may, at Lessee's option, terminate this Lease as of the date of such notice.
11.1.1damage or destruction upon written notice to Lessor given no less than five (5) business days after Lessee's receipt of Lessor's notice or the expiration of said ninety (90)-day period, as the case may be. Less Than 30 DaysUpon termination of this Lease, all Rent paid in advance shall be apportioned as of the date of the damage or destruction. If A just proportion of the Building should be damaged only Rent according to such the nature and extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair of the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder damage shall be abated proportionately from until the date Tenant vacates the Building only completion of any restoration performed by Lessor pursuant to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancythis Section 11.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 3 contracts
Samples: Lease (Onix Systems Inc), Lease (Metrika Systems Corp), Lease (Onix Systems Inc)
Casualty. Section 14.1 If (a) the Building should be Premises are damaged or destroyed by fire or other casualty, or (b) the Building (including any Building system) is damaged by fire or other casualty so that Tenant is deprived of reasonable access to the Premises or so that the Premises or any part of the Premises is unusable by Tenant for the reasonable conduct of Tenant’s normal business in the Premises, Tenant shall give immediate written prompt notice to Landlord. Within thirty Subject to the provisions of this Article (30i) days Landlord shall, at Landlord’s expense, repair the damage to the Premises, excluding the damage to Tenant’s Work or Tenant’s Property and (ii) Tenant shall, at Tenant’s expense, promptly remove Xxxxxx’s Property from the Premises to the extent required by Landlord in connection with Landlord’s repair of the damage and shall promptly after receipt thereofLandlord's substantial completion of the repair to the Premises, commence to diligently repair Tenant's Work and Tenant's Property in order to resume its normal business in the Premises. Until the repairs to be performed by Landlord are substantially completed, the Rent shall notify be reduced in proportion to the area of the Premises to which Tenant whether such repairs can reasonably be made: shall not have reasonable access or which is unusable by Tenant for the reasonable conduct of Tenant’s normal business in the Premises and which Xxxxxx does not actually use.
Section 14.2 If (1a) within thirty the Premises are rendered wholly untenantable, or (30b) days; the Premises are damaged by any cause which is not covered by Landlord’s insurance, or (c) the Premises are damaged in whole or in part during the last two (2) in more than thirty (30) days but in less than ninety (90) days; years of the Term, or (3d) in more than ninety (90) days from the date cost of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only repairing any damage to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by fire or for other casualty exceeds twenty-five percent (25%) of the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received replacement cost thereof, as reasonably estimated by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding a reputable contractor, architect or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysengineer selected by Landlord, then Landlord shall have the option of:
right, by notice given to Tenant within sixty (160) terminating days following the Lease effective upon date of the occurrence of such damage, in which event to terminate this lease. If this lease is terminated pursuant to this Section, the Rent Term shall be abated from expire on the fifteenth (15th) day after the notice is given as fully and completely as if such date Tenant vacates were the Building; stated Expiration Date.
Section 14.3 This Article constitutes an express agreement governing any damage to or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part destruction of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on Premises or about the Building by fire or for other casualty, and Section 227 of the benefit Real Property Law of Tenant). The Rent payable hereunder the State of New York, and any other similar Laws shall be abated proportionately from the date Tenant vacates the Building only have no application to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancya fire or other casualty.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 3 contracts
Samples: Retail Lease, Retail Lease, Retail Lease
Casualty. If In the event of total or partial destruction of the Building should be damaged or destroyed the Leased Premises by fire or other casualty, Landlord agrees promptly to restore and repair same; provided, however, Landlord's obligation hereunder with respect to the Leased Premises shall be limited to the reconstruction of such of the leasehold improvements as were originally made by Landlord, if any. Rent shall proportionately xxxxx during the time that the Leased Premises or part thereof are unusable because of any such damage. Notwithstanding the foregoing, if the Leased Premises are (a) so destroyed that they cannot be repaired or rebuilt within one hundred eighty (180) days from the casualty date; or (b) destroyed by a casualty that is not covered by the insurance required hereunder or, if covered, such insurance proceeds are not released by any mortgagee entitled thereto or are insufficient to rebuild the Building and the Leased Premises; then, in case of a clause (a) casualty, either Landlord or Tenant may, or, in the case of a clause (b) casualty, then Landlord may, upon thirty (30) days' written notice to the other party, terminate this Lease with respect to matters thereafter accruing. Notwithstanding anything to the contrary contained herein, if the damage to the Leased Premises or the Building is a partial casualty that effects more than twenty percent (20%) of the Leased Premises and has not been repaired and the Leased Premises made ready for occupancy within sixty (60) days after the date of the casualty, damage or destruction, then the Tenant shall give immediate have the right and option to terminate this Lease by giving written notice to Landlord at any time within fifteen (15) days after the end of such sixty (60) day period. Additionally, if the damage is to such an extent that it cannot reasonably be repaired and the Premises made ready for occupancy within sixty (60) days after the date of the casualty, damage or destruction, then Tenant may terminate this Lease within fifteen (15) days after the date of the casualty, damage or destruction by giving written notice to Landlord. Within thirty (30) days after receipt thereofFollowing any casualty loss which renders the Premises untenantable, Landlord Tenant shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days entitled to an abatement of rent from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding damage or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds destruction until the Premises are available to fully repair rendered tenantable notwithstanding any negligence on the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit part of Tenant. The Rent payable hereunder If only a portion of Premises is rendered untenantable, then Tenant's rent shall be partially abated proportionately from taking into account the date Tenant vacates diminution in value of the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 DaysPremises. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysthis Lease is terminated, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from prorated to the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterationscasualty, partitions, fixtures, additions damage or destruction and any prepaid Rent or other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder prepaid amounts shall be abated proportionately from the date Tenant vacates the Building only refunded to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyTenant.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 3 contracts
Samples: Office Sublease, Office Sublease, Office Sublease
Casualty. If the Building should be damaged or is totally destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty casualty or if the Premises or Building is so damaged that rebuilding or repairs cannot be completed within one hundred eighty (30180) days after receipt thereofthe date of such damage, Landlord or Tenant may at its option terminate this Lease, in which event the Rent shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days abated during the unexpired portion of this Lease effective from the date of such notice.
11.1.1. Less Than 30 Daysdamage. If the Building should be or the Premises are damaged by fire, tornado or other casualty covered by Landlord’s insurance, but only to such extent that rebuilding or repairs can be reasonably completed within thirty one hundred eighty (30180) daysdays after the date of such damage, or if the damage should be more serious but neither Landlord nor Tenant elects to terminate this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damageLease, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than within ninety (90) days, then Landlord shall have days after the option of:
(1) terminating the Lease effective upon the occurrence date of such damage, damage commence to rebuild or repair the Building and/or Premises and proceed with reasonable diligence to restore the Building and/or Premises to not less than substantially the same condition in which event it was immediately prior to the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Buildingcasualty, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterationsfurniture, partitionsequipment, fixtures, additions fixtures and other improvements which may have been placed in, on or about by Tenant in the Building by or for the benefit of Tenant)Premises. The Rent payable hereunder There shall be abated proportionately from a fair diminution of Rent during the date Tenant vacates time the Building only to the extent rental abatement insurance proceeds Premises are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If any mortgagee under a deed to secure debt, security agreement or mortgage requires the Building should insurance proceeds be so damaged applied against the mortgage debt, Landlord shall have no obligation to rebuild and this Lease shall terminate upon notice to Tenant; provided, however, that rebuilding or repairs cannot Landlord shall notify Tenant, within thirty (30) days after any such mortgagee gives a notice to Landlord of such election to apply such proceeds against the mortgage debt, of the fact that such mortgagee has done so. Except as hereinafter provided, any insurance which may be completed within ninety (90) days, either carried by Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs against loss or damage to the Building , provided insurance proceeds are available or to fully repair the damage (except that Landlord Premises shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the sole benefit ofof the party carrying such insurance and under its sole control.
Appears in 3 contracts
Samples: Office Building Lease Agreement (Local Matters Inc.), Office Building Lease Agreement (Local Matters Inc.), Office Building Lease Agreement (Local Matters Inc.)
Casualty. (a) If the Building should or the Parking Lot or means of access or ingress to the Premises shall be so damaged by fire or destroyed other casualty as to render the Premises untenantable, and if such damage shall be so great that an architect selected by Landlord and agreed to by Tenant shall certify in writing to Landlord and Tenant that the Premises with the exercise of reasonable diligence, but without the payment of overtime or other premiums cannot be made tenantable within 90 days from the happening of the fire or other casualty, or if the damage shall be such that Landlord's architect shall certify that the Premises can be made tenantable within the 90-day period from the happening of the fire or other casualty, but insurance proceeds are not made available to Landlord for repair of such damage, then Landlord or Tenant shall give immediate written notice to Landlordmay terminate this Lease. Within thirty (30) days after receipt thereofIf neither Landlord nor Tenant terminates this Lease as set forth above, then, except as hereinafter provided, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) dayswith reasonable promptness, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, damage so done except that Landlord shall not be required to rebuildrepair, replace or restore any personal property of Tenant specified in the first sentence of Section 13(b). Until such repair or replace any alterationsis substantially completed, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Base Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only in proportion to the extent rental part of the Premises which is unusable by Tenant in the reasonable conduct of its business or profession. There shall be no abatement insurance proceeds are received of Base Rent by reason of any portion of the Premises being unusable for a period of one day or less, unless covered by Landlord's loss of rent insurance. If the damage is due to the fault or negligence of Tenant or Tenant's employees, agents or invitees, there shall be no abatement of Base Rent, unless covered by Landlord's loss of rent insurance.
(b) If the Premises shall be damaged by fire or other casualty, but not so as to render the entire Building untenantable, Landlord shall cause the damage to be repaired with reasonable promptness and, if not repaired sufficiently that the entire Premises is tenantable within one day, there shall be an abatement of Base Rent and all other amounts due under this Lease in proportion to the Rentable Square Footage of the Premises rendered untenantable. If the fire or other casualty causing damage to the Premises shall have been caused by the negligence of Tenant, or Tenant's employees, agents or invitees, such damage shall be repaired by Landlord and the Building are unfit amount paid for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent repair shall be abated due from Tenant to Landlord with interest at the Default Rate from the date Tenant vacates the Building; or (2) electing to repair the Buildingdates of Landlord's payments, provided insurance proceeds are available to fully repair the damage (except that unless Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building is paid for such loss by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyinsurance.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 3 contracts
Samples: Lease (Brooks Automation Inc), Lease (Brooks Automation Inc), Lease (Helix Technology Corp)
Casualty. If Upon the Building should be damaged occurrence of any casualty loss, damage or destroyed by fire or other casualtydestruction material to the operation of the Station prior to the Closing, Tenant Seller shall promptly give immediate Buyer written notice to Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) setting forth in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from detail the date extent of such notice.
11.1.1loss, damage or destruction and the cause thereof if known. Less Than 30 Days. If the Building should be damaged only Seller shall use its reasonable efforts to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available promptly commence and thereafter to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required diligently proceed to rebuild, repair or replace any alterationssuch lost, partitions, fixtures, additions and other improvements which may have been placed in, on damaged or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Buildingdestroyed property. In the event that neither party elects such repair or replacement is not fully completed prior to the Closing Date, Buyer may elect to postpone the Closing until Seller's repairs have been fully completed or to consummate the transactions contemplated hereby on the Closing Date, in which event Seller shall assign to Buyer the portion of the insurance proceeds (less all reasonable costs and expenses, including without limitation attorney's fees, expenses and court costs incurred by Seller to collect such amounts), if any, not previously expended by Seller to repair or replace the damaged or destroyed property (such assignment of proceeds to take place regardless of whether the parties close on the scheduled or deferred Closing Date) and Buyer shall accept the damaged Sale Assets in their damaged condition. In the event the loss, damage or destruction causes or will cause the Station to be off the air for more than seven (7) consecutive days or fifteen (15) total days, whether or not consecutive, then Buyer may elect either (i) to consummate the transactions contemplated hereby on the Closing Date, in which event Seller shall assign to Buyer the portion of the insurance proceeds (less all reasonable costs and expenses, including without limitation attorney's fees, expenses and court costs, incurred by Seller to collect such amounts), if any, not previously expended by Seller to repair or replace the damaged or destroyed property, and Buyer shall accept the damaged Sale Assets in their damaged condition, or (ii) to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofAgreement.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Ez Communications Inc /Va/), Asset Purchase Agreement (American Radio Systems Corp /Ma/), Asset Purchase Agreement (Salem Communications Corp /De/)
Casualty. If In the Building should be damaged event of damage to, or destroyed total or partial destruction of, the Premises by fire or other casualtycasualty (the “Casualty Damage”), the insurance proceeds, if any, that, as a result of the Casualty Damage, are payable under any fire or casualty insurance maintained by Tenant relating to the Premises shall give immediate be payable to, and shall be the sole property of, Landlord, and, subject to the terms and conditions of this Section, Landlord shall cause the prompt and diligent repair and replacement of the Premises as soon as reasonably is possible so that they are in substantially the same condition as existed prior to the Casualty Damage. If substantial Casualty Damage occurs at any time during the Lease Term, a determination shall be made by a licensed architect reasonably acceptable to Landlord and Tenant within 30 days after such Casualty Damage, of whether Landlord will be able, within a period of six months after such Casualty Damage occurs, to repair and replace the Premises so that they are in substantially the same condition as existed prior to the Casualty Damage. If the architect determines that Landlord will not be able, within a period of six months after such Casualty Damage occurs, to repair and replace the Premises so that they are in substantially the same condition as existed prior to the Casualty Damage, then Landlord, at its option, may terminate this Lease upon written notice to Landlord. Within thirty (30) Tenant at least 30 days after receipt thereofin advance, Landlord and all obligations hereunder, except those due or mature, shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Dayscease and terminate. If substantial Casualty Damage occurs during the Building should be damaged only to such extent last two years of the Lease Term, and provided that rebuilding or repairs can be reasonably completed within thirty (30) daysTenant has not exercised an option for an extension Term, then Landlord, at its option, may terminate this Lease shall not terminate andupon written notice to Tenant at least 30 days in advance, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Buildingand all obligations hereunder, except that Landlord those due or mature, shall cease and terminate. Rent shall not be required to rebuild, abated or reduced during any repair or replace construction following any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of TenantCasualty Damage. The Rent payable hereunder term “substantially damaged” and “substantial damage” as used in this section, shall be abated proportionately from mean that the date Tenant vacates the Building only Premises has been damaged to the extent rental abatement insurance proceeds are received by Landlord and that the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence cost of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part restoration of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about Premises will exceed a sum constituting 35% of the Building by or for total replacement cost of the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyPremises.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Medpace Holdings, Inc.)
Casualty. If In the event of total or partial destruction of the Building should be damaged or destroyed the Leased Premises by fire or other casualty, Landlord agrees to promptly restore and repair the Leased Premises; provided, however, Landlord’s obligation hereunder shall be limited to the reconstruction of such of the tenant finish improvements as were originally required to be made by Landlord, if any. Rent shall proportionately xxxxx (which may be a total abatement if the Leased Premises are rendered wholly unusable) during the time that the Leased Premises or part thereof are unusable because of any such damage. Notwithstanding the foregoing, if the Leased Premises are (i) so destroyed that they cannot be repaired or rebuilt within three hundred sixty (360) days from the casualty date; or (ii) totally destroyed by a casualty which is not covered by the insurance required hereunder then, in case of a clause (i) casualty, Tenant shall give immediate may, or, in the case of a clause (ii) casualty, then Landlord may, upon thirty (30) days’ written notice to Landlordthe other party, terminate this Lease with respect to matters thereafter accruing. Within Tenant waives any right under applicable laws inconsistent with the terms of this Article 9. If the Leased Premises should be damaged by fire or other casualty during the last twenty-four (24) months of the term of this Lease and the restoration cost thereof exceeds five percent (5%) of the replacement cost of the entire Building, then, unless Tenant exercises any right it may have to extend the term of this Lease, Landlord may, within thirty (30) days after receipt thereofthe determination of the cost of such rebuilding and repairs, Landlord terminate this Lease on written notice to Tenant and, in such event, Rent and all other charges payable by Tenant hereunder shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from xxxxx as of the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence happening of such damage, in . The number of days within which event the Rent Leased Premises can be rebuilt or repaired shall be abated from the date Tenant vacates the Building; or (2) electing determined by an independent contractor mutually acceptable to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by both Landlord and the Building is unfit for occupancyTenant.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 2 contracts
Samples: Lease Agreement (Container Store Group, Inc.), Lease Agreement (Container Store Group, Inc.)
Casualty. If the Premises or the Project is damaged or destroyed, in whole or in part, by fire or other casualty at any time during the Term and if, after such damage or destruction, Tenant is not able to use the portion of the Premises not damaged or destroyed to substantially the same extent and for the Authorized Use for which the Premises were leased to Tenant hereunder, and within sixty (60) days after Landlord’s receipt of written notice from Tenant describing such damage or destruction Landlord provides notice to Tenant that the Premises, as improved to the extent of the Building should Standard improvements existing immediately prior to such destruction or casualty, cannot be repaired or rebuilt to the condition which existed immediately prior to such destruction or casualty within two hundred seventy (270) days following the date of such destruction or casualty, then either Landlord or Tenant may by written notice to the other within thirty (30) days following such notice by Landlord terminate this Lease. Unless such damage or destruction is the result of the negligence or willful misconduct of Tenant or its employees, agents, contractors or invitees, the Rent shall be abated for the period and proportionately to the extent that after such damage or destruction Tenant is not able to use the portion of the Premises damaged or destroyed for the Authorized Use and to substantially the same extent as Tenant used the Premises prior thereto. If this Lease is not terminated pursuant to the foregoing, then upon receiving the available insurance proceeds, Landlord shall restore or replace the damaged or destroyed portions of the Premises, as improved to the extent of the Building Standard improvements existing immediately prior to such destruction or casualty, or Project; Tenant shall restore or replace the improvements to the Premises required to be insured by Tenant hereunder; and this Lease shall continue in full force and effect in accordance with the terms hereof except for the abatement of Rent referred to above, if applicable,. Landlord shall restore or replace the damaged or destroyed portions of the Premises or Project that Landlord is required to restore or replace hereunder within a reasonable time, subject to Force Majeure Events and the availability of insurance proceeds. If either party elects to terminate this Lease as provided in this Section, this Lease shall terminate on the date which is thirty (30) days following the date of the notice of termination as if the Term hereof had been scheduled to expire on such date, and, except for obligations which are expressly stated herein to survive the expiration or earlier termination of this Lease, neither party shall have any liability to the other party as a result of such termination. Landlord shall not be obligated to repair any damage to Above Standard improvements or fixtures, Tenant’s inventory, trade fixtures or other personal property. If the Premises are damaged or destroyed by fire or other casualtycasualty caused by the recklessness or willful misconduct of Tenant, Tenant its employees, agents, contractors, or invitees, then any repair or restoration of the Premises by Landlord pursuant to the terms of this Section shall give immediate written notice be at Tenant’s sole cost and expense, except to Landlordthe extent that Landlord is able to receive payment as a result of the insurance that it carries pursuant to the terms of this Lease. Within thirty (30) days after receipt thereofNotwithstanding anything in this Section to the contrary, Landlord shall notify Tenant whether such repairs can reasonably be made: have no obligation to repair or restore the Premises or the Project on account of damage resulting from any casualty which occurs during the last twelve (112) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; months of the Term, or (3) in more than ninety (90) days from if the date estimated cost of such notice.
11.1.1. Less Than 30 Days. If repair or restoration would exceed fifty percent (50%) of the reasonable value of the Building should be damaged only prior to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysthe casualty. The abatement of Rent, if applicable hereunder, and termination of this Lease shall by Tenant, if applicable hereunder, are the sole remedies available to Tenant in the event the Premises or the Project is damaged or destroyed, in whole or in part, by fire or other casualty. Notwithstanding the foregoing, Landlord may not terminate and, provided that insurance proceeds are available to fully repair this Lease unless Landlord also terminates the damage, Landlord shall repair leases of all other similarly situated tenants of the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 2 contracts
Samples: Commercial Lease (Ziprecruiter, Inc.), Commercial Lease (Ziprecruiter, Inc.)
Casualty. If (a) In the Building should be event any portion of the Premises or any portion of the General Common Areas (or, if Tenant is on a multi-tenant floor, any portion of the On-Floor Common Areas for the floor on which the Premises are located) is damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to earthquake or flood or by any other cause of any kind or nature, and the damage can, in the reasonable opinion of the Landlord. Within thirty (30) days after receipt thereof’s architect, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) repaired within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) calendar days from the date of the casualty, then Landlord shall repair the damage. In the event the damage cannot, in more than the reasonable opinion of Landlord’s architect, be repaired within ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs casualty, but can be reasonably completed repaired within thirty one hundred eighty (30180) daysdays from the date of the casualty, Landlord, at Landlord’s sole option, may elect either to terminate this Lease shall not terminate and, provided that insurance proceeds are available or to fully repair the damage. If in the reasonable opinion of Landlord’s architect, Landlord shall repair the Building, except that Landlord shall damage cannot be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately repaired within one hundred eighty (180) days from the date of the casualty, then both Landlord and Tenant vacates shall have the Building only right to terminate this Lease.
(b) Notwithstanding any language herein to the contrary, Landlord, at Landlord’s sole option, shall have the right to terminate this Lease if at the time of any such damage, either (i) less than two (2) years remain in the term of this Lease; (ii) the cost of repairing and restoring the damage exceeds twenty-five percent (25%) of the replacement cost of the Building; or (iii) Landlord’s lender does not make the insurance proceeds available to Landlord to restore the Premises.
(c) In the event this Lease is not terminated as provided hereunder (i) Landlord shall be obligated to repair the damage to the extent rental abatement of the net insurance proceeds available to Landlord for the purpose of rebuilding and restoration unless such proceeds are received by Landlord and inadequate to bring the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only Premises into conformity with their condition prior to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent case Landlord shall be abated from responsible for the date remaining portion necessary to bring the Premises into conformity with such condition; (ii) Tenant vacates shall be entitled to a pro rata abatement of Base Rent and Additional Rent during the Building; period of time the Premises, or any portion thereof, are untenantable due to such damage, and (2iii) electing to repair if the Premises, the Building, provided insurance proceeds are available to fully repair or any portion thereof shall be damaged through the negligence or willful misconduct of Tenant and the cost of repairing the same is not covered by Landlord’s insurance, such damage (except that shall be repaired by Landlord shall not be required to rebuild, repair or replace any part of at the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit sole expense of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only , plus an administrative fee to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyof fifteen percent (15%) of such costs.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90d) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to of any termination of this Lease under this Section, this Lease shall cease and terminate as if the date of such damage were the expiration date of the term of this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of.
Appears in 2 contracts
Samples: Office Lease Agreement (Emdeon Inc.), Office Lease Agreement (Emdeon Inc.)
Casualty. If 22.1. In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in substantially the same condition as immediately before such damage.
11.1.1. Less Than 30 Days22.2. If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3. Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement party carrying such insurance proceeds are received by Landlord and the Building are unfit for occupancyunder its sole control.
11.1.222.4. Greater Than 30 Days. If In the Building event that Landlord should be damaged only fail to complete such extent that rebuilding or repairs can be reasonably completed in more than and material restoration within thirty (30) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord (each, a “Force Majeure Event”), the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed.
22.5. Notwithstanding anything to the contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant within thirty (30) days of such damage and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in less than ninety (90) daysthe event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds be applied to such indebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after notice from Landlord regarding the time period of repair; and such requirement is made by any such holder, whereupon this Lease and the Rent shall be abated from end on the date Tenant vacates of such damage as if the Buildingdate of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, provided insurance proceeds are available it shall be Tenant’s responsibility upon notice from Landlord to fully repair remove forthwith, at its sole cost and expense, such portion of all of the damage (except that property belonging to Tenant or its licensees from such portion or all of the Building or Premises as Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 2 contracts
Samples: Lease (Ocular Therapeutix, Inc), Lease Agreement (Ocular Therapeutix, Inc)
Casualty. (a) If the Building should Premises or any portion thereof shall be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to rendering the same materially unfit for the operation of the business of Tenant, and if, in the Landlord. Within thirty (30) days after receipt thereof’s reasonable judgment, Landlord shall notify Tenant whether such repairs can the same cannot reasonably be made: repaired or restored within one hundred twenty (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90120) days from the date of commencement of such notice.
11.1.1. Less Than 30 Days. If repair or restoration, or if Landlord shall not be obligated to restore the Building should be damaged only Premises by reason of the terms of subsection (b) below and shall elect not to restore the same, then this Lease shall cease and terminate from the date of such extent that rebuilding or repairs can damage, provided that, if any such restoration by Landlord shall not have been completed within such one hundred twenty (120) day period, then Landlord shall have such additional time as may be reasonably completed within thirty necessary to complete such restoration, provided that such additional time does not exceed one hundred twenty (30120) days, and if so completed, this Lease shall not terminate andbe terminated. If this Lease shall so terminate, provided Tenant shall pay Rent apportioned to the time of the damage (or such later date as Tenant may cease any use of the Premises) and shall immediately surrender the Premises to Landlord, without further liability or obligation of Tenant and Landlord hereunder, provided, however, that insurance proceeds are available nothing contained herein shall release Tenant from any liability or obligation arising or incurred prior to fully the time of such damage or casualty and Tenant’s cessation of use of the Premises.
(b) If Landlord shall have determined that any such damage can be repaired within a period of one hundred twenty (120) days from the date of commencement of such repair the damageor restoration, or if this Lease shall not have been terminated as hereinabove provided, then in either such event, Landlord shall re-enter and repair said damage and the BuildingRent shall be equitably abated for the period during which such repairs are being made, except provided that Landlord shall not be required have any obligation to rebuild, repair or replace any alterationsportion of the Premises other than the improvements originally erected or installed by Landlord at its expense and in place at the time of such fire or other casualty, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only Notwithstanding anything in this Lease to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) dayscontrary, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required obligated to rebuild, repair or replace make any part restoration and Tenant shall not be obligated to accept any restoration and either party may instead terminate this Lease if(1) such casualty shall (A) occur during the last three (3) years of the alterationsthen applicable Term, partitionsincluding any extended Term, fixtures, additions and other improvements (exclusive of any unexercised options to extend the Term which may have been placed inbe provided in this Lease, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) daysunless, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from demand made by Landlord regarding aftersuch casualty, Tenant shall elect to extend the time period Term to the extent permitted by the terms of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord and as a result thereof there shall promptly commence then be in excess of three (3) years remaining in the Term) and diligently prosecute to completion (B) exceeds twenty (20%) of the repairs to usable space of the Building or otherwise prevents Tenant from conducting Tenant’s business at the Premises as Tenant had previously conducted its business, provided or (2) there may not be adequate insurance proceeds are available for use by Landlord (by reason of the requirements of Landlord’s mortgage or otherwise) to fully repair pay in full the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofcost of such restoration.
Appears in 2 contracts
Samples: Lease Agreement (ExOne Co), Lease Agreement (Ex One Company, LLC)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within sixty (60) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant, unless such loss is caused by the gross negligence or willful misconduct of Landlord or its agents. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within sixty (60) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof but if Landlord determines not to repair such damages, Landlord shall notify (“Landlord’s Notice”) Tenant and Tenant shall have the right to terminate this Lease by delivering notice to Landlord of its intent to terminate; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that a material portion of the insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
right to terminate this Lease (1) terminating the Lease effective upon the occurrence of such damage, so long as Landlord terminates all other leases in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building similarly affected by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received such casualty) by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 2 contracts
Samples: Lease Agreement (Reata Pharmaceuticals Inc), Lease (Reata Pharmaceuticals Inc)
Casualty. If the Premises or the Project is damaged or destroyed, in whole or in part, by fire or other casualty at any time during the Term and if, after such damage or destruction, Tenant is not able to use the portion of the Premises not damaged or destroyed to substantially the same extent and for the Authorized Use for which the Premises were leased to Tenant hereunder, and within sixty (60) days after Landlord’s receipt of written notice from Tenant describing such damage or destruction Landlord provides notice to Tenant that the Premises, as improved to the extent of the Building should Standard improvements existing immediately prior to such destruction or casualty, cannot be repaired or rebuilt to the condition which existed immediately prior to such destruction or casualty within two hundred forty (240) days following the date of such destruction or casualty, then either Landlord or Tenant may by written notice to the other within thirty (30) days following such notice by Landlord terminate this Lease. Unless such damage or destruction is the result of the negligence or willful misconduct of Tenant or its employees, agents, contractors or invitees, the Rent shall be abated for the period and proportionately to the extent that after such damage or destruction Tenant is not able to use the portion of the Premises damaged or destroyed for the Authorized Use and to substantially the same extent as Tenant used the Premises prior thereto. If this Lease is not terminated pursuant to the foregoing, then upon receiving the available insurance proceeds, Landlord shall restore or replace the damaged or destroyed portions of the Premises, as improved to the extent of the Building Standard improvements existing immediately prior to such destruction or casualty, or Project; Tenant shall restore or replace the improvements to the Premises required to be insured by Tenant hereunder; and this Lease shall continue in full force and effect in accordance with the terms hereof except for the abatement of Rent referred to above, if applicable, and except that the Term shall be extended by a length of time equal to the period beginning on the date of such damage or destruction and ending upon completion of such restoration or replacement. Landlord shall restore or replace the damaged or destroyed portions of the Premises or Project that Landlord is required to restore or replace hereunder within a reasonable time, subject to Force Majeure Events and the availability of insurance proceeds. If either party elects to terminate this Lease as provided in this Section, this Lease shall terminate on the date which is thirty (30) days following the date of the notice of termination as if the Term hereof had been scheduled to expire on such date, and, except for obligations which are expressly stated herein to survive the expiration or earlier termination of this Lease, neither party shall have any liability to the other party as a result of such termination. Landlord shall not be obligated to repair any damage to Above Standard improvements or fixtures, Tenant’s inventory, trade fixtures or other personal property. If the Premises or any portion of the Project are damaged or destroyed by fire or other casualtycasualty caused by the negligence or willful misconduct of Tenant, Tenant its employees, agents, contractors, or invitees, then any repair or restoration of the Premises by Landlord pursuant to the terms of this Section shall give immediate written notice be at Tenant’s sole cost and expense. Notwithstanding anything in this Section to Landlord. Within thirty (30) days after receipt thereofthe contrary, Landlord shall notify Tenant whether such repairs can reasonably be made: have no obligation to repair or restore the Premises or the Project on account of damage resulting from any casualty which occurs during the last twelve (112) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; months of the Term, or (3) in more than ninety (90) days from if the date estimated cost of such notice.
11.1.1. Less Than 30 Days. If repair or restoration would exceed fifty percent (50%) of the reasonable value of the Building should be damaged only prior to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysthe casualty. The abatement of Rent, if applicable hereunder, and termination of this Lease shall not terminate andby Tenant, provided that insurance proceeds if applicable hereunder, are the sole remedies available to fully repair Tenant in the damage, Landlord shall repair event the Building, except that Landlord shall not be required to rebuild, repair Premises or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on the Project is damaged or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damagedestroyed, in which event the Rent shall be abated from the date Tenant vacates the Building; whole or (2) electing to repair the Buildingin part, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair by fire or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancycasualty.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 2 contracts
Samples: Lease Agreement (Upland Software, Inc.), Lease Agreement (Upland Software, Inc.)
Casualty. If In the event of total or partial destruction of the Building should be damaged or destroyed the Leased Premises by fire or other casualty, Landlord agrees to promptly restore and repair the Building or Leased Premises; provided, however, Landlord's obligation hereunder shall be limited to the reconstruction of the Building, Leased Premises and the Tenant Finish Improvements as were originally required to be made by Landlord. Landlord shall give immediate Tenant written notice to Landlord. Within within thirty (30) days after receipt thereofof the casualty of Landlord's estimated date to complete such restoration and repair. In the event that such notice discloses that such date of completion is more than one hundred eighty (180) days from the casualty date, Landlord and Tenant shall notify Tenant whether endeavor in good faith to agree upon a schedule for the completion of such repairs can reasonably be made: (1) repair or rebuilding. If no such agreement is reached within thirty (30) days of Tenant's receipt of notice estimating the date of completion, Tenant may terminate this Lease, effective upon the date of casualty, by delivery of written notice thereof to Landlord within fifteen (15) days of the expiration of the thirty (30) day negotiating period identified above. Rent shall proportionately xxxxx during the time that the Leased Premises or part thereof are unusable because of any such damage until substantial completion of the restoration. Notwithstanding the foregoing, if the Leased Premises are destroyed by a casualty which is not covered by the insurance required hereunder or, if covered, such insurance proceeds are not released by any mortgagee entitled thereto or are insufficient to rebuild the Building, then Landlord may, upon thirty (30) days; (2) in more than ' written notice delivered to Tenant within thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from of the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) dayscasualty, terminate this Lease with respect to matters thereafter accruing. All restoration shall not terminate and, provided that insurance proceeds are available to fully repair comply with all construction requirements imposed hereby on the damage, Landlord shall repair original construction of the Building, except that Landlord shall not be required to rebuild, repair Leased Premises or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date original Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancyFinish Improvements.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 2 contracts
Samples: Office Lease Agreement (Interactive Intelligence Inc), Office Lease Agreement (Interactive Intelligence Inc)
Casualty. (a) If the Premises, the Building should or Property shall be damaged or destroyed by fire or other casualty insurable under standard coverage insurance to the extent of less than twenty-five percent (25%) of the reasonable replacement value thereof at the time of such damage or destruction, Landlord shall, except as otherwise provided herein, repair and/or rebuild the same with reasonable diligence. Tenant shall repair or restore with due diligence all trade fixtures, equipment and other installations theretofore installed by Tenant to the extent of Tenant’s obligations as set forth in Exhibit B and damaged or destroyed by such fire or casualty. If the Premises, the Building, the Property, or any portion of the Business Park owned by Landlord shall be damaged or destroyed (i) to the extent of twenty-five percent (25%) or more of the reasonable replacement value thereof at the time of such damage or destruction, or (ii) as a result of a risk which is not covered by insurance, or (iii) to any extent by any cause in the last three (3) years of the then current term of this Lease (unless Tenant shall have exercised prior to the date of said fire or other casualty any remaining option to extend the term of this Lease), then the Landlord may at its sole election restore or rebuild the Premises, the Building, the Property, or any portion of the Business Park, as the case may be, or terminate this Lease.
(b) If Landlord elects to terminate this Lease by reason of such damage or destruction, it shall give Tenant notice of its election within sixty (60) days after such damage or destruction. If Landlord is obligated to or elects to repair or rebuild, Landlord shall deliver to Tenant within seventy-five (75) days after the date of the casualty, Landlord’s good faith estimate of the time necessary to complete such repair or rebuilding. If the estimated time to completion exceeds two hundred seventy (270) days, Tenant shall have the right to terminate this Lease by notice to Landlord given within thirty (30) days after Tenant’s receipt of Landlord’s notice of estimated time to completion. If this Lease is not terminated by reason of such casualty damage, Landlord shall restore or rebuild reasonable diligence and Tenant shall replace or restore with reasonable diligence all trade fixtures, equipment and other installations theretofore installed by Tenant and damaged or destroyed by such fire or other casualty. Landlord’s obligation under this Section XIV shall be to restore or rebuild to no greater extent than its obligations in connection with the original construction as set forth in Exhibit B and shall be subject to zoning and building laws then applicable to the Premises. Landlord’s obligation under this Section XIV shall be limited to the proceeds received and retained by Landlord (net of any amounts required to be paid to Landlord’s mortgagee) under the insurance policy which is allocable to the Premises, and Landlord shall not be obligated to commence such repairs and/or rebuilding until such insurance proceeds are released to Landlord. Landlord shall not be liable for delays in the making of any such repairs which are due to governmental regulations, casualties, strikes, unavailability of labor and materials, and other causes beyond the reasonable control of Landlord. If the actual time to repair or rebuild exceeds two hundred seventy (270) days, Tenant may terminate this Lease by written notice to Landlord given within thirty (30) days after such 270-day period and received prior to completion of such repair or rebuilding, and such termination shall be effective upon receipt by Landlord of such notice.
(c) Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from reasonable delays in the making of any such repairs. If the Premises, or any part thereof, shall be damaged or destroyed by fire or other casualty, and if as a result thereof the Premises shall be rendered untenantable, then a just proportion of the Rent reserved hereunder shall be suspended or abated according to the extent to which Tenant may be reasonably required to discontinue its business in the Premises until the work of restoration to be done by Landlord as aforesaid shall give immediate written notice be substantially completed.
(d) In the event Landlord elects to Landlord. Within terminate this Lease pursuant hereto, the effective termination date shall be not less than thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements on which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are a termination notice is received by Landlord Tenant, and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the yearly Rent and Additional Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part apportioned as of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancysuch date.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Faro Technologies Inc)
Casualty. If the Building should be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to LandlordLandlord of any damage caused to the Premises by fire or other casualty. Within If the Premises is damaged by a fire, explosion, or other casualty (an "Occurrence"), the damage shall promptly be repaired by Landlord subject to this Section, and only to the extent as is necessary to place the Premises in the same condition as when possession was initially delivered to Tenant, and to the extent of insurance proceeds made available to Landlord specifically for such repair. Should insurance proceeds made available to Landlord specifically for such repair be insufficient for such repair, and Landlord elects not to rebuild or restore the Premises, Landlord shall so advise Tenant in writing within forty-five (45) days after the Occurrence, and Tenant may, at its option, and within thirty (30) days after receipt thereofits being advised of Landlord's decision not to rebuild or restore, provide Landlord with at least forty-five (45) days prior written notice of its election to terminate this Lease. If such damage occurs and (i) Landlord is not required to repair as provided above, or (ii) the Premises shall be damaged to the extent of seventy-five percent (75%) LEASE AGREEMENT PAGE 8 9 or more of the cost of replacement, Landlord may repair or rebuild the Premises or the building, or terminate this Lease upon notice of such election in writing to Tenant within forty-five (45) days after the Occurrence. If the Occurrence renders forty percent (40%) or less of the Premises untenantable and Tenant does not utilize the portion rendered untenantable, a proportionate abatement of the Rent and Additional Rent shall be allowed from the Occurrence date until the date Landlord completes its work, said proportion to be computed on the basis of the relation which the gross square footage of the untenantable space bears to the floor area of the Premises (but not including any portion of the Premises outside of the building improvements). If more than forty percent (40%) of the Premises is rendered untenantable, and Tenant does not utilize the entire Premises for any purpose, then until Landlord restores it to the condition it was in on the Commencement Date, Rent and Additional Rent shall abatx. Xx any Occurrence precludes twenty-five percent (25%) or more of the Premises' use by Tenant and less than twelve (12) months remain on the then current term, notwithstanding any of the other provisions of this Section, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) have no obligation to repair or rebuild unless Tenant, within thirty (30) days; (2) in more than thirty (30) days but in of the Occurrence, irrevocably exercises its next option, if any, to extend this Lease. If no such option exists and less than ninety twelve (9012) days; or (3) months remain in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damageterm, Landlord shall repair the Building, except that have no obligation to restore or rebuild. If Landlord shall not be required fail to rebuild, commence to repair or replace restore the Premises in the manner specified in this Article within forty-five (45) days after the Occurrence, and proceed to complete such repairs and restoration with reasonable due diligence, subject to any alterationsdelays enumerated in Article XV.C. hereof, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only subject to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysprovisions of Article XI.E., then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damagethen, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Buildingsuch event, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within give Landlord ten (10) days after prior written notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects its election either to (i) terminate this Lease, Landlord or (ii) rebuild the Premises itself on behalf of Landlord. If the Tenant shall promptly commence and diligently prosecute to completion so rebuild the repairs Premises, then Tenant shall have the right to the Building , provided insurance proceeds are available payable with respect to fully repair the damage (except that Landlord Occurrence. Notwithstanding anything to the contrary contained in this Lease, under no circumstances whatsoever shall not be required Landlord's obligation to rebuild, restore, or repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofPremises exceed insurance proceeds made available to Landlord.
Appears in 2 contracts
Samples: Lease Agreement (H R Window Supply Inc), Lease Agreement (H R Window Supply Inc)
Casualty. (A) If the Building should be Premises are damaged or destroyed by fire or other casualty, to the extent Landlord is unaware of such damage or destruction, Tenant shall give immediate promptly notify Landlord and Landlord shall repair the damaged portions of the Premises to substantially the condition thereof prior to the damage (but not any of Tenant’s property therein or improvements or alterations made by Tenant), except that if, in Landlord’s reasonable judgment, the damage would require more than one hundred eighty (180) days of work to repair, or if the insurance proceeds (excluding rent insurance) which Landlord anticipates receiving must be applied to repay any mortgages encumbering the Building or are otherwise inadequate to pay the cost of such repair, the Landlord shall have the right to terminate this Lease within forty-five (45) days after the date of casualty, by so notifying Tenant, which notice shall specify a termination date not less than fifteen days after its transmission (provided that Tenant shall have a minimum period of sixty (60) days to vacate the Premises); provided, however, in connection with any such termination, Landlord shall also be terminating the tenancies of all other similarly affected tenants in the Building. If Landlord is so required to repair, the work shall be commenced promptly and completed with due diligence, taking into account the time required for Landlord to procure said insurance proceeds, and construction delays due to shortages of labor or material or other causes beyond Landlord’s reasonable control.
(B) During the period when Tenant shall be deprived of possession of the Premises by reason of such damage, Tenant’s obligation to pay Fixed Rent under Section 5 and Operating Expense Charges under Section 6 shall xxxxx in the proportion which the damaged area of the Premises bear to the entire Premises.
(C) In the event that Landlord should fail to complete such rebuilding or repairs within 270 days from the date of written notice notification by Tenant to Landlord of the occurrence of the damage or the date Landlord otherwise becomes aware thereof or Landlord at any time informs Tenant that such repairs will take longer than 270 days from the date of such damage. Tenant may terminate this Lease by written notification to Landlord. Within On such notification, all rights and obligations under this Lease shall cease except for any such rights or obligations which, by the express provisions of this Lease, survive the termination of this Lease At any time, from time to time, after the date occurring thirty (30) days after receipt thereofthe date of the damage, Tenant may request that Landlord provide Tenant with an estimate from the Landlord described above setting forth such Landlord’s reasonable opinion of the date of completion of the repairs and Landlord shall respond to such request within fifteen (15) days.
(D) In the event of a casualty occurring during the final twelve (12) months of the Term which will take in excess of sixty (60) days to repair, Landlord or Tenant shall notify Tenant whether have the right to terminate this Lease upon written notice to the other which shall provide for the date of such repairs can reasonably be made: termination (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than not to exceed ninety (90) days from after the date of such notice.
11.1.1); provided, however, Landlord may only terminate the Lease pursuant to this subsection should it also be terminating the leases of all other similarly situated tenants in the Building; provided, further, if Tenant has an option to extend the Term, it can exercise the same following the casualty in which case the terms of this subsection shall not apply. Less Than 30 Days. If the Building should be damaged only to On such extent that rebuilding or repairs can be reasonably completed within thirty (30) daystermination date, all rights and obligations under this Lease shall not terminate andcease except for any such rights or obligations which, provided that insurance proceeds are available to fully repair by the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit express provisions of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion survive the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit oftermination of this Lease.
Appears in 2 contracts
Samples: Sublease Agreement, Sublease Agreement (Verrica Pharmaceuticals Inc.)
Casualty. If and Taking ------------------- In case during the Term all or any substantial part of the Premises, the Building should be or the Lot are damaged or destroyed materially by fire or other casualtycasualty or by action of public or other authority in consequence thereof, or are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done on pursuance of public or other lawful authority, this Lease shall terminate at Landlord's election, provided Landlord terminates all other leases in the Building, which may be made notwithstanding Landlord's entire interest may be divested, by notice given to Tenant within 60 days after the occurrence of the event giving rise to the election to terminate which notice shall give immediate specify the effective date of termination, or if Landlord does not elect to so terminate, which notice shall contain Landlord's nonbinding estimate of the time needed to put the Premises or such remainder in as good or better condition than existed immediately prior to such fire, other casualty or taking. In case of a taking of part of the Premises, if the remainder is insufficient for use for Tenant's purposes, and Landlord receives written notice thereof signed by Tenant, or in the case of casualty or taking if the time needed to do the construction work necessary to put the Premises or such remainder in as good or better condition than existed immediately prior to such fire, other casualty or is reasonably estimated by the Landlord to exceed six months, or if Landlord. Within thirty 's restoration work is not actually completed within six (306) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days months from the date of casualty or taking Tenant may terminate this Lease by notice given to Landlord within 30 days after receipt of Landlord's notice, which notice by Tenant shall specify the effective date of termination. The effective date of termination specified either by Landlord or Tenant shall be not less than 15 nor more than 30 days after the date of notice of such notice.
11.1.1. Less Than 30 Daystermination. If in any case the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Premises are rendered unfit for use and occupation and the Lease shall is not terminate and, provided that insurance proceeds are available to fully repair the damageso terminated, Landlord shall repair use due diligence (following the Buildingexpiration of all periods in which either party may terminate this Lease pursuant to the foregoing provisions of this Section 7.1) to restore the Premises, except that Landlord shall not or in case of taking what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to rebuildremove pursuant to Section 3.1 or 3.3), repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the condition of the Premises immediately prior to the casualty or taking and a just proportion of the fixed rent and additional rent according to the nature and extent rental abatement insurance proceeds are received by Landlord and of the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent injury shall be abated from the date Tenant vacates of casualty or taking until the Building; Premises or (2) electing to repair such remainder shall have been restored by Landlord and in case of a taking which permanently reduces the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part area of the alterationsPremises, partitions, fixtures, additions a just proportion of the fixed rent and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder additional rent shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofremainder of the Term.
Appears in 2 contracts
Samples: Lease (Viryanet LTD), Lease (Viryanet LTD)
Casualty. (a) If the Building should Premises or any portion thereof shall be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to rendering the same materially unfit for the operation of the business of Tenant, and if, in the Landlord. Within thirty (30) days after receipt thereof’s reasonable judgment, Landlord shall notify Tenant whether such repairs can the same cannot reasonably be made: repaired or restored within one hundred twenty (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90120) days from the date of commencement of such notice.
11.1.1. Less Than 30 Days. If repair or restoration, or if Landlord shall not be obligated to restore the Building should be damaged only Premises by reason of the terms of subsection (b) below and shall elect not to restore the same, then this Lease shall cease and terminate from the date of such extent that rebuilding or repairs can damage, provided that, if any such restoration by Landlord shall not have been completed within such one hundred twenty (120) day period, then Landlord shall have such additional time as may be reasonably completed within thirty necessary to complete such restoration, provided that such additional time does not exceed one hundred twenty (30120) days, and if so completed, this Lease shall not terminate andbe terminated. If this Lease shall so terminate, provided Tenant shall pay Rent apportioned to the time of the damage (or such later date as Tenant may cease any use of the Premises) and shall immediately surrender the Premises to Landlord, without further liability or obligation of Tenant and Landlord hereunder, provided, however, that insurance proceeds are available nothing contained herein shall release Tenant from any liability or obligation arising or incurred prior to fully the time of such damage or casualty and Tenant’s cessation of use of the Premises.
(b) If Landlord shall have determined that any such damage can be repaired within a period of one hundred twenty (120) days from the date of commencement of such repair the damageor restoration, or if this Lease shall not have been terminated as hereinabove provided, then in either such event, Landlord shall re-enter and repair said damage and the BuildingRent shall be equitably abated for the period during which such repairs are being made, except provided that Landlord shall not be required have any obligation to rebuild, repair or replace any alterations, partitions, fixtures, additions portion of the Premises other than the improvements originally erected or installed by Landlord at its expense and in place at the time of such fire or other improvements which may have been placed in, on or about the Building by or for the benefit of Tenantcasualty. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only Notwithstanding anything in this Lease to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) dayscontrary, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required obligated to rebuild, repair or replace make any part restoration and Tenant shall not be obligated to accept any restoration and either party may instead terminate this Lease if (1) such casualty shall (A) occur during the last three (3) years of the alterationsthen applicable Term, partitionsincluding any extended Term, fixtures, additions and other improvements (exclusive of any unexercised options to extend the Term which may have been placed inbe provided in this Lease, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) daysunless, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from demand made by Landlord regarding after such casualty, Tenant shall elect to extend the time period Term to the extent permitted by the terms of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord and as a result thereof there shall promptly commence then be in excess of three (3) years remaining in the Term) and diligently prosecute to completion (B) exceeds twenty (20%) of the repairs to usable space of the Building or otherwise prevents Tenant from conducting Tenant’s business at the Premises as Tenant had previously conducted its business, provided or (2) there may not be adequate insurance proceeds are available for use by Landlord (by reason of the requirements of Landlord’s mortgage or otherwise) to fully repair pay in full the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofcost of such restoration.
Appears in 2 contracts
Samples: Lease Agreement (ExOne Co), Lease Agreement (Ex One Company, LLC)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty 's reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord's reasonable estimation of the length of time within which material restoration can be made, and Landlord's determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant's use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord's reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord's notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant's responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 2 contracts
Samples: Lease (Scolr Inc), Office Lease (Biotel Inc.)
Casualty. If during the Term of this Lease, any portion of the Premises, access to the Premises or any part of the Building should be which is essential to the use of the Premises is damaged or destroyed by fire or other casualtydestroyed, Tenant this Lease shall give immediate written notice to Landlord. Within thirty (30) days after receipt thereof, remain in full force and effect and Landlord shall notify Tenant whether promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such repairs can reasonably be made: damage and shall complete such repair and restoration with due diligence in compliance with all then existing laws. Notwithstanding the foregoing, if (1) such damage or destruction cannot, in Landlord’s contractor’s reasonable estimate, be repaired within thirty (30) days365 days following such damage or destruction; or (2) in more than thirty forty percent (3040%) days but in less than ninety (90) daysof the Building is damaged or destroyed; or (3) any Mortgagee of the Building will not allow the application of insurance proceeds for repair and restoration (pursuant to the terms of such Mortgagee’s and Landlord’s loan documents); or (4) the damage or destruction (including any rent abatement Tenant is, or is anticipated to be, entitled to pursuant to the terms hereof) is not covered in more than ninety full by Landlord’s Insurance required by Paragraph 16, subject to the deductible, or (905) the damage or destruction occurs within the last twelve (12) months of the Term of this Lease or any extension hereof, then Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within 30 days from of the date Landlord learns of the damage; provided, however, in the case of clauses (2) and/or (4) above, if Xxxxxx agrees in writing to fund the restoration and pay rent hereunder to the extent the loss is not fully covered by Landlord’s insurance, Landlord shall not be entitled to terminate this Lease pursuant to such clauses (2) and/or (4) above so long as Tenant promptly provides Landlord with adequate assurances that such funds are fully and promptly available to Landlord (e.g., Landlord shall have the right, in its sole discretion, to require that Tenant escrow such funds). Further notwithstanding the foregoing, if (i) such damage or destruction cannot, in Landlord’s contractor’s reasonable estimate, be repaired within 365 days following such damage or destruction, or (ii) such damage or destruction is not fully repaired within twelve (12) months following the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding damage or repairs can be reasonably completed within thirty (30) daysdestruction, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only extended to the extent rental abatement insurance proceeds are received of any delays caused by Landlord Tenant and any delays of force majeure, or (iii) the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If damage or destruction occurs within the Building should be damaged only to such extent that rebuilding last twelve (12) months of the Term of this Lease or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysany extension hereof, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damageTenant may, in which event the Rent shall be abated from its sole discretion, terminate this Lease by delivery of notice to Landlord within 30 days of the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair of the damage (except that Landlord shall not be required if Tenant is exercising its right to rebuildterminate for the reason set forth in clauses (i) or (iii) above), repair or replace any part within 10 days of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit date of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required if Tenant is exercising its right to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or terminate for the benefit ofreason set forth in clause (ii) above).
Appears in 2 contracts
Samples: Standard Industrial Lease, Standard Industrial Lease (Solyndra, Inc.)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder ; strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct; or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 2 contracts
Samples: Early Entry Agreement (Alder Biopharmaceuticals Inc), Early Entry Agreement (Alder Biopharmaceuticals Inc)
Casualty. If 22.1 In the event that the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within two hundred forty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90240) days from the date of such noticefire or other cause, Landlord shall, forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate abatement in rent from the date of such damage and continuing until the earlier of (a) sixty (60) days following the date that the Premises or the Building (as the case may be) have been materially restored (subject, in any case, to the terms and provisions of Section 22.7 below), or (b) the date upon which Tenant has taken occupancy of the Premises for the conduct of its business. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs shall interfere with the use and occupancy by Tenant of the Premises from time to time, except that if (i) such casualty materially and adversely interferes with Tenant’s use of more than fifty percent (50%) of the Premises for the conduct of its business, (ii) such damage by fire other cause was not the result of Tenant’s negligence or willful misconduct, and (iii) Tenant, as a result of such interference, ceases using the entire Premises, then rent shall be abated entirely. Within forty-five (45) days from the date of such damage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made (the “Target Restoration Date”). For purposes of this Lease, the Building or the Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.122.2 If such repairs cannot, in Landlord’s reasonable estimation, be made within two hundred forty (240) days of the date of such fire or other cause, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. Less Than 30 Days. If In the Building should be damaged only to event of the giving of such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysnotice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any paneling, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant, including, without limitation, the Tenant Improvements. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of Tenant. The Rent payable hereunder the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within forty-five (45) days after the Target Restoration Date, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the Target Restoration Date, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant or reasons of Force Majeure, then the Target Restoration Date shall be abated proportionately from extended for the date Tenant vacates amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the contrary contained in this Article, Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises or the Building only and both Landlord and Tenant shall have the right to terminate this Lease when the extent rental abatement damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof. Additionally, in the event that the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or the Building requires that a substantial portion of the insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term. Landlord shall use reasonable efforts to require any such holder to make such determination as soon as is reasonably practicable and shall keep Tenant informed of such developments at reasonable intervals.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent Building or Premises as Landlord shall be abated from the date Tenant vacates the Building. request.
22.7 In the event that neither party elects the Premises or the Building are damaged by fire or other cause and Landlord has proceeded with the restoration of such damage pursuant to terminate this LeaseSection 22.1, Landlord shall promptly commence permit Tenant, Tenant’s employees and diligently prosecute Tenant’s contractors which have been reasonably approved by Landlord to completion enter the repairs Premises within a reasonable time prior to the Building substantial completion of Landlord’s restoration work in order that Tenant may do any work that may be necessary to restore the Tenant Improvements in the Premises to make the Premises ready for Tenant’s occupancy. Such entry shall be subject to the condition that Tenant and Tenant’s contractors work in harmony and not interfere with Landlord, provided Landlord’s contractors and their agents and subcontractors in doing their work or with any other tenants and occupants of the Building. If at any time such entry shall cause or threaten to cause such disharmony or interference, Landlord, in its reasonable discretion, shall have the right to withdraw and cancel such license upon twenty-four (24) hours written notice to Tenant and any further prior entry shall be prohibited until Tenant shall have cured the source of any such disruption or disharmony. Tenant agrees that any entry into and any occupation of the Premises shall be deemed to be under all of the terms, covenants, conditions and provisions of the Lease (including, without limitation, Tenant’s compliance with the insurance proceeds are available requirements of Article 11 of this Lease), except Tenant shall have no obligation to fully repair pay the damage Monthly Installment of Rent or any form of additional rent until the date which is specified in subsections (except a) and (b) in Section 22.1. In addition to any other conditions or limitations on such license to enter the Premises during such restoration period, Tenant expressly agrees that neither it nor any of Tenant’s contractors shall enter the Premises during such restoration period unless and until each of them shall furnish such assurances to Landlord, including but not limited to, insurance coverages, waivers of lien, surety company performance bonds and personal guaranties of individuals of substance, as Landlord shall not be required reasonably require to rebuildprotect Landlord against any loss, repair casualty, liability, liens or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofclaims.
Appears in 2 contracts
Casualty. In the event that the Building should be totally destroyed by fire, tornado or other casualty, or should be so damaged that rebuilding or repairs cannot be completed within one hundred and eighty (180) days after the date of such damage, Landlord may, at its option, terminate this Lease in which event the rent shall be abated during the unexpired portion of this Lease effective with the date of such damage, or Landlord may proceed to rebuild the Building and the Premises. If the damage prohibits Tenant’s use of the Premises, cannot be repaired within one hundred and eighty (180) days and was not caused by Tenant, then Tenant can elect to terminate this Lease by written notice to Landlord received within sixty (60) days of the date of damage. In the event the Building should be damaged or destroyed by fire fire, tornado or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs in Landlord’s reasonable estimation can be reasonably completed within thirty one hundred and eighty (30180) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from days after the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, or if the damage cannot be repaired within such time frame but Landlord does not elect to terminate this Lease, in either such event, Landlord shall, within sixty (60) days after the date of such damage commence to rebuild or repair the Building and shall proceed with reasonable diligence to restore the Building to substantially the same condition in which event it was immediately prior to the Rent shall be abated from happening of the date Tenant vacates the Building; or (2) electing to repair the Buildingcasualty, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions fixtures and other improvements which may have been placed in, on by Tenant or about other tenants within the Building by or for the benefit of Tenant). The Rent payable hereunder and rent shall be abated proportionately equitably xxxxx from the date Tenant vacates the Building only of damage until such damage is repaired if such casualty results in damage to Tenant’s Premises or prohibits its access to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding Premises or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Buildinguse thereof. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that neither party elects the insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and if Landlord so elects, this Lease shall terminate upon notice to Tenant. Unless otherwise provided in this Lease, any insurance which may be carried by Landlord shall promptly commence and diligently prosecute to completion the repairs or Tenant against loss or damage to the Building , provided insurance proceeds are available or to fully repair the damage (except that Landlord Premises shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the sole benefit ofof the party carrying such insurance and under its sole control.
Appears in 2 contracts
Samples: Office Lease (Gaiam Inc), Office Lease (Wells Real Estate Fund Ix Lp)
Casualty. If (a) If, at any time during the Term, the Building should be or the Premises are damaged or destroyed by a fire or other insured casualty, Tenant shall give immediate written notice to Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether within 30 days after discovery of such repairs can damage (a "Restoration Notice") as to the amount of time Landlord reasonably be made: estimates it will take to restore the Premises, as applicable (1the "Restoration Period"). If the Restoration Period is estimated to exceed fifteen (15) within thirty months (30) days; the "Maximum Restoration Period"), Landlord may, in such notice, elect to terminate this Lease as of the date that is seventy-five (2) in more than thirty (3075) days but in less than ninety (90) days; or (3) in more than ninety (90) days from after the date of discovery of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only damage or destruction; provided, however, that notwithstanding Landlord's election to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysrestore, Tenant may elect to terminate this Lease shall not by written notice to Landlord delivered within forty-five (45) days of receipt of a notice from Landlord estimating a Restoration Period for the Premises longer than the Maximum Restoration Period. Unless either Landlord or Tenant so elects to terminate and, provided that insurance proceeds are available this Lease pursuant to fully repair the damagethis Section 5.1, Landlord shall repair promptly restore the BuildingPremises (including all tenant improvements that were part of the Premises as of the date of this Lease), except that Landlord shall not be as needed to obtain any license, clearance or other authorization of any kind required to rebuildenter into and restore the Premises issued by any Governmental Authority having jurisdiction over the use, repair storage, handling, treatment, generation, release, disposal, removal or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed remediation of Hazardous Materials (hereinafter defined) in, on or about the Building Premises (collectively referred to herein as "HAZARDOUS MATERIALS CLEARANCES"); provided, however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration Period, Landlord shall cease all work, and Tenant may by or for written notice to Landlord delivered within five (5) business days of the benefit expiration of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only Maximum Restoration Period, elect to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Daysterminate this Lease. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence be relieved of its obligation to make repairs or restoration, and this Lease shall terminate as of the date of discovery of such damage or destruction. Landlord shall retain any Rent paid and the right to any Rent payable by Tenant and applicable to the date of termination. If Tenant does not timely elect to terminate, this Lease shall remain in full force and effect, and Landlord shall complete all repairs and restoration as soon as reasonably practicable.
(b) Notwithstanding anything to the contrary contained in Section 5.1(a), (i) if there is Material Damage (as hereinafter defined) and the date set forth in the Restoration Notice is more than twelve (12) months from the date of such damage, then Tenant shall have the right to terminate this Lease by giving notice to Landlord (a "TENANT TERMINATION NOTICE"), not later than thirty (30) days following Tenant's receipt of the Restoration Notice. If this Lease is terminated by Landlord pursuant to Section 5.1(a) or by Tenant pursuant to this Section 5.1(b), (a) the Term shall expire upon the thirtieth (30th) day after notice of termination is given or on such later date as Tenant reasonably requires so long as Tenant is continuously and diligently prosecute using good faith commercially reasonable efforts to completion relocate, (b) Tenant's liability for Rent shall cease proportionately as of the repairs date Tenant vacates the Premises, and (c) any prepaid Rent for any period after the date Tenant's liability for Rent has ceased shall be refunded by Landlord to Tenant.
(c) For purposes of this Article V, the Building term "MATERIAL DAMAGE" shall mean either (i) fifteen percent (15%) or more of the rentable area of the Premises is damaged and thereby rendered untenantable or not reasonably usable by Tenant for its then current Permitted Use, provided insurance proceeds are available or (ii) a portion of the Premises is damaged and as a result thereof, Tenant is denied reasonable use or access to fully repair a material portion of the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofPremises.
Appears in 2 contracts
Casualty. If a. In the Building should be event any portion of the Premises or any portion of the General Common Areas (or, if Tenant is on a multi-tenant floor, any portion of the On-Floor Common Areas for the floor on which the Premises are located) is damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to earthquake or flood or by any other cause of any kind or nature, and the damage can, in the opinion of the Landlord. Within thirty (30) days after receipt thereof’s architect, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) repaired within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) calendar days from the date of the casualty, then Landlord shall repair the damage. In the event the damage cannot, in more than the opinion of Landlord’s architect, be repaired within ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs casualty, but can be reasonably completed repaired within thirty one hundred eighty (30180) daysdays from the date of the casualty, Landlord, at Landlord’s sole option, may elect either to terminate this Lease shall not terminate and, provided that insurance proceeds are available or to fully repair the damage. If in Landlord’s opinion of Landlord’s architect, Landlord shall repair the Building, except that Landlord shall damage cannot be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately repaired within one hundred eighty (180) days from the date Tenant vacates of the Building only to the extent rental abatement insurance proceeds are received by casualty, then both Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord Tenant shall have the option of:right to terminate this Lease.
(1) terminating b. Notwithstanding any language herein to the contrary, Landlord, at Landlord’s sole option, shall have the right to terminate this Lease effective upon if at the occurrence time of any such damage, (i) less than two (2) years remain in which event the Rent shall be abated from term of this Lease; (ii) the date Tenant vacates cost of repairing and restoring the damage exceeds twenty-five percent (25%) of the replacement cost of the Building; or (2iii) electing Landlord’s lender does not make the insurance proceeds available to Landlord to restore the Premises.
c. In the event this Lease is not terminated as provided hereunder (i) Landlord shall be obligated to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement of the net insurance proceeds available to Landlord for the purpose of rebuilding and restoration; (ii) to the extent Landlord has rental loss insurance proceeds available, Tenant shall be entitled to a pro rata abatement of Base Rental and Additional Rental during the period of time the Premises, or any portion thereof, are received untenantable due to such damage; and (iii) if the Premises, the Building, or any portion thereof shall be damaged through the negligence or willful misconduct of Tenant and the cost of repairing the same is not covered by Landlord’s insurance, such damage shall be repaired by Landlord and at the Building is unfit for occupancysole expense of Tenant, plus an administrative fee to Landlord of fifteen percent (15%) of such costs.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. d. In the event that neither party elects to of any termination of this Lease under this Section, this Lease shall cease and terminate as if the date of such damage were the expiration date of the term of this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Active Network Inc)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully then Landlord shall forthwith repair the or restore such damage, Landlord this Lease continuing in full force and effect, and the rent hereunder shall repair the Building, except that be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any property insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord and Tenant shall have the right to terminate this Lease by notice to the other party within fifteen (15) days when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 2 contracts
Samples: Lease (Alnylam Pharmaceuticals, Inc.), Lease (Alnylam Pharmaceuticals, Inc.)
Casualty. If In the Building should be event during the Lease Term the Premises are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice but to Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such an extent that repairs and rebuilding can reasonably be made: completed within one hundred eighty (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90180) days from the date Landlord receives the applicable insurance proceeds for such repairs and rebuilding, Landlord may, at Landlord’s option within sixty (60) days of such notice.
11.1.1. Less Than 30 Daysevent, elect to repair and rebuild the Premises. If Landlord elects to repair and rebuild the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysPremises, Landlord will notify Tenant of same and this Lease shall not terminate remain in full force and effect, but Landlord may require Tenant temporarily to vacate the Premises while they are being repaired and, provided subject to the provisions of this Section 14.1, rent shall xxxxx during this period to the extent that insurance proceeds the Premises are available to fully repair the damageuntenantable; provided, Landlord shall repair the Buildinghowever, except that Landlord shall not be required liable to rebuild, repair Tenant for any damage or replace any alterations, partitions, fixtures, additions and other improvements expense which temporarily vacating the Premises may have been placed in, on or about the Building by or for the benefit of cause Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only repairs of or restoration to such extent that rebuilding the Premises is not substantially complete (exclusive of any of Tenant’s property or repairs can be reasonably completed in more than thirty Tenant’s improvements), or the Premises is not otherwise made suitable for occupancy by Tenant, within the aforesaid one hundred eighty (30180) days but in less than ninety (90) daysday period, then Landlord Tenant shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damageright, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice to Landlord within ten (10) days after notice from Landlord regarding the time period of repair; and such period, to terminate this Lease and the Rent Lease, in which event rent shall be abated from for the unexpired Lease Term, effective as of the date Tenant vacates the BuildingPremises, and the other terms and conditions of this Lease shall continue and remain in full force and effect until Tenant shall have vacated the Premises, removed all Tenant’s personal property therefrom and delivered peaceable possession thereof to Landlord. In If within the event aforesaid sixty (60) day period Landlord elects not to repair and rebuild the Premises or if the Building or any part thereof be so damaged that neither party elects the Premises are untenantable and in Landlord’s reasonable opinion, which shall be given to Tenant within sixty (60) days of such casualty, the repairs and rebuilding cannot be completed within one hundred eighty (180) days from the date Landlord receives the applicable insurance proceeds as aforesaid, then within fourteen (14) days of Tenant’s receipt of Landlord’s notice that such rebuilding cannot be completed within one hundred eighty (180) days, Landlord or Tenant may by seven (7) days’ written notice to the other terminate this LeaseLease in which event rent shall be abated for the unexpired Lease Term, effective as of the date Tenant vacates the Premises, and the other terms and conditions of this Lease shall continue and remain in full force and effect until Tenant shall have vacated the Premises, removed all Tenant’s personal property therefrom and delivered peaceable possession thereof to Landlord. Failure by Tenant to comply with any provision of this Section 14.1 shall subject Tenant to such costs, expenses, damages, and losses as Landlord may incur by reason of Tenant’s breach hereof. Notwithstanding any provision of this Lease to the contrary, if the Premises, the Building, or any part thereof are damaged by fire or other casualty caused by or materially contributed to by the negligence or misconduct of Tenant or any of the Tenant Parties, Tenant shall be fully responsible, to the extent not covered by Landlord’s and/or Tenant’s insurance, for repairing, restoring, or paying for the damage as Landlord shall promptly commence direct and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord this Lease shall not be required to rebuild, repair remain in full force and effect without reduction or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofabatement of rent.
Appears in 2 contracts
Samples: Lease Agreement (Roberts Realty Investors Inc), Lease Agreement (Roberts Realty Investors Inc)
Casualty. If the Building should be damaged or destroyed by fire or other casualty, Tenant immediately shall give immediate written notice to Landlord of any damage to the Premises, the Building, Project, or the Land. If the Premises, Building, Project, or the Land are totally destroyed by an insured peril, or so damaged by an insured peril that, in Landlord. Within ’s estimation, rebuilding or repairs cannot be substantially completed (exclusive of leasehold improvements Tenant makes) within two hundred ten (210) days after the date of Landlord’s actual knowledge of the damage, then Landlord may terminate this Lease by delivering to Tenant written notice of termination within thirty (30) days after receipt thereofthe damage. If the Premises, Building, Project, or the Land are totally destroyed by an insured peril, or so damaged by an insured peril that, in Landlord’s estimation, rebuilding or repairs cannot be substantially completed (exclusive of leasehold improvements Tenant makes) within two hundred ten (210) days after the date of Landlord’s actual knowledge of the damage, then Landlord shall notify may, at its expense, relocate Tenant whether such repairs can to space reasonably be made: (1) comparable to the Premises, provided that Landlord notifies Tenant of its intention to do so in a written notice delivered to Tenant within thirty (30) days after the damage. Such relocation may be for a portion of the remaining Term or the entire Term. Landlord shall complete any such relocation within ninety (90) days after Landlord has delivered such written notice to Tenant. If the Premises, Building, Project, or the Land are totally destroyed by an insured peril, or so damaged by an insured peril that, in Landlord’s estimation, rebuilding or repairs cannot be substantially completed (exclusive of leasehold improvements Tenant makes) within two hundred ten (210) days after the date of Landlord’s actual knowledge of the damage, and if Landlord does not elect to relocate Tenant following such damage to the Premises or the Building, and a Tenant Party did not cause such damage, then Tenant may terminate this Lease by delivering to Landlord written notice of termination within (15) days following the date on which Landlord notifies Tenant in writing of the estimated time for the restoration. If Landlord estimates that the Premises will remain untenantable for in excess of two hundred ten (210) days; , then Tenant may elect to terminate this Lease by written notice delivered to Landlord within thirty (230) days following Landlord’s delivery to Tenant of the estimated duration that the Premises will remain untenantable. If Landlord estimated the duration that the Premises would remain untenantable at two hundred ten (210) days or less, and following two hundred ten (210) days’ from the date of casualty the Premises remains untenantable, then Tenant may thereafter terminate this Lease upon ten (10) business days’ prior written notice to Landlord (and such termination shall be effective unless Landlord delivers the Premises in the required condition within said ten (10) business day period). If Landlord estimated the duration that the Premises would remain untenantable at more than two hundred ten (210) days (but neither party elected to terminate this Lease), and the Premises remains untenantable for more than thirty (30) days but following the estimated completion date (subject to extension for force majeure and delays caused by Tenant), then Tenant may thereafter terminate this Lease upon ten (10) business days’ prior written notice to Landlord (and such termination shall be effective unless Landlord delivers the Premises in less than ninety the required condition within said ten (9010) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Daysbusiness day period). If there is a casualty during the Building should be damaged only last twelve (12) months of the Term, and if due to such extent casualty Landlord estimates that rebuilding or repairs can be reasonably completed within the Premises shall remain untenantable for in excess of thirty (30) days, then Tenant may elect to terminate this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice delivered to Landlord within ten (10) business days after notice from Landlord regarding following Landlord’s delivery to Tenant of the time period of repair; and this Lease and estimated duration that the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofPremises will remain untenantable.
Appears in 2 contracts
Samples: Commercial Industrial Lease Agreement (Li-Cycle Holdings Corp.), Commercial Industrial Lease Agreement (Li-Cycle Holdings Corp.)
Casualty. (a) If (i) any portion of the Building should be Premises is damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty and (30ii) days after receipt thereof, Landlord shall notify Tenant whether such rebuilding or repairs can reasonably be made: (1) completed within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysdamage, this Lease shall not terminate and, provided that insurance proceeds are available continue and Landlord agrees to fully rebuild or repair the damage, Landlord shall repair Premises at Landlord's cost and expense to substantially the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements condition in which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only they existed prior to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than damage within ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated days from the date Tenant vacates of the Building; damage. If Landlord fails to rebuild or (2) electing to repair the BuildingPremises to the condition and within the time period provided in this subparagraph, provided insurance proceeds are available to fully repair the damage Tenant may terminate this Lease by giving Landlord written notice of termination.
(except that Landlord shall not be required to rebuild, repair or replace b) If (i) any part portion of the alterationsPremises is damaged by fire or other casualty, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that (ii) rebuilding or repairs cannot be completed within ninety (90) daysdays from the date of the damage, either Landlord agrees to promptly notify Tenant in writing of the estimated time required to rebuild or repair the Premises. Tenant may terminate this Lease by giving Landlord written notice of termination within ten thirty (1030) days after notice from Landlord regarding the time period receipt of repair; and Landlord's notice. If Tenant does not terminate this Lease under this subparagraph, this Lease shall continue and Landlord agrees to rebuild or repair the Premises at Landlord's cost and expense to substantially the condition in which they existed prior to the damage within the estimated time. If Landlord fails to rebuild or repair the Premises to the condition provided in this subparagraph and within the estimated time period, Tenant may terminate this Lease by giving Landlord written notice of termination.
(c) If (i) any portion of the Premises is damaged by fire or other casualty, and (ii) this Lease continues, then (during the period from the date of the damage to the date the Premises are rebuilt or repaired) the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs reduced by an amount equal to the Building product of the Rent times a fraction, provided insurance proceeds are available to fully repair the damage (except that Landlord numerator of which shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions the area of the Premises damaged and other improvements the denominator of which may have been placed in, on or about shall be the Building by or for area of the benefit ofPremises.
Appears in 2 contracts
Samples: Warehouse Lease Agreement (Hastings Entertainment Inc), Warehouse Lease Agreement (Hastings Entertainment Inc)
Casualty. (a) If the Building should Premises shall be damaged or destroyed by fire or other casualtycasualty so that the damage can reasonably be repaired by Landlord within 180 days from the date of the damage (90 days for any casualty during the last year of the Term), then the damage shall be diligently repaired by and at the expense of Landlord within such 180 (or 90, as the case may be)-day period, and the Rent from the date of such damage until such repairs shall be made shall be apportioned according to the part of the Premises which is, in the reasonable business judgment of Tenant, suitable and/or accessible for its regular business operations within the Premises. Notwithstanding the foregoing, if Landlord fails to complete repairs required to be performed under this Article 15(a) within 270 days (or 90 days, in the last year of the Term) from the date of damage, Tenant shall have the right to give immediate written Landlord a notice in writing of intention to Landlord. Within thirty (30) days after receipt thereofterminate this Lease, Landlord and thereupon the Term shall notify Tenant whether expire as of the date of such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from damage, effective the date of such notice.
11.1.1. Less Than 30 Days. (b) If the Building should Premises is damaged by fire or other casualty so that the damage cannot reasonably be damaged only repaired by Landlord within 180 days of the date of the damage (as determined by an independent architect or contractor reasonably selected by Landlord in such architect or contractor’s reasonable discretion), then in any of such events Landlord or Tenant may, within 30 days after such casualty (or in Tenant’s case not later than thirty days after receipt of the estimated restoration time from Landlord), give the other party a notice in writing of intention to such extent that rebuilding or repairs can be reasonably completed terminate this Lease, and thereupon the Term shall expire, effective the date of the casualty, and Tenant shall vacate the Premises and surrender the same to Landlord within thirty (30) days, this Lease shall not terminate and30 days after the date of the termination notice, provided that insurance proceeds are available to fully repair for any casualty during the damagelast year of the Term, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder restoration period shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days90 days, rather than 180 days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord the provisions of Article 15(a) shall promptly commence and diligently prosecute to completion the repairs to the Building govern, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuilddiligently repair the relevant damage at the expense of Landlord within 270 days of the date of such damage.
(c) Landlord shall not be liable for any damage to, repair or replace be required (under any alterationsprovision of this Lease or otherwise) to repair, partitionsrestore or replace, fixturesany property in the Premises, additions nor be liable to Tenant for damage arising from rain or snow or from the bursting, overflowing or leakage of water, steam or gas pipes or defect in the plumbing, HVAC, mechanical or electrical systems of the Premises unless and other improvements which may have been placed into the extent arising out of or in connection with from the negligence or willful misconduct of Landlord or its agents, employees or contractors or failure on or about the Building by or for the benefit ofpart of Landlord to perform its obligations under this Lease.
Appears in 2 contracts
Samples: Lease (Surgiquest Inc), Lease (Surgiquest Inc)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty 's reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same at Landlord's expense subject to Article 4 and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord's reasonable estimation of the length of time within which material restoration can be made, and Landlord's determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant's use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord's reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord's notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of tennination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant's responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence request.
22.7 Tenant hereby waives any and diligently prosecute to completion all rights under and benefits of Sections 1932(2) and 1933(4) of the repairs to the Building California Civil Code, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and similar or successor Regulations or other improvements which may have been placed in, on laws now or about the Building by or for the benefit ofhereinafter in effect.
Appears in 1 contract
Casualty. If the Building should be damaged Premises are made untenantable in whole or destroyed in part by fire or other casualty, Tenant the Rent, until repairs are substantially completed and the Premises are tenantable for Tenant’s normal operations, or the lease terminated as hereinafter provided, shall give immediate written be apportioned on a per diem basis according to the part of the Premises which is usable by Tenant. If such damage shall be so extensive that the Premises cannot be restored by Landlord within a period of six (6) months, either party shall have the right to cancel this Lease by notice to Landlord. Within the other given at any time within thirty (30) days after receipt thereofthe date of such damage. In the event of giving effective notice pursuant to this Section, this Lease and the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Lease. If this Lease is not so terminated, Landlord shall notify Tenant whether will promptly repair the damage at Landlord’s expense; provided however, such repairs can reasonably be made: shall not take more than six (16) months. If the actual time to restore the damage exceeds six (6) months from the date of the casualty, Tenant shall have the right to terminate this Lease by written notice given within thirty (30) days; (2) days after the expiration of such six-month period, in more than which event this Lease shall terminate thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from after the date of Tenant’s notice unless Landlord completes its restoration prior to the expiration of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysday period. In all casualty events, this unless the Lease shall not terminate and, is terminated as provided that insurance proceeds are available to fully repair the damageabove, Landlord shall repair agrees to diligently pursue completion of the Building, except that Landlord shall not be required to rebuild, ’s and Premises’ repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancyrestoration.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Samples: Lease Agreement (American Railcar Industries, Inc.)
Casualty. (a) If the Building should Premises shall be partially damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs casualty so that the damage can reasonably be made: (1) repaired by Landlord within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) 180 days from the date of the damage (90 days for any casualty during the last year of the Term), then the damage shall be diligently repaired by and at the expense of Landlord, and the Rent until such noticerepairs shall be made shall be apportioned according to the part of the Premises which is tenantable.
11.1.1. Less Than 30 Days. (b) If the Building should Premises is rendered wholly untenantable by fire or other casualty or is partially damaged so that the damage cannot reasonably be damaged only repaired by Landlord within 270 days of the date of the damage (as determined by an independent architect or contractor selected by Landlord), then in any of such events Landlord or Tenant may, within 30 days after such casualty (or in Tenant’s case not sooner than 15 days after receipt of the estimated restoration time from Landlord), give the other party a notice in writing of intention to such extent that rebuilding or repairs can be reasonably completed terminate this Lease, and thereupon the Term shall expire, effective the date of the casualty, and Tenant shall vacate the Premises and surrender the same to Landlord within thirty (30) days, this Lease shall not terminate and30 days after the date of the termination notice, provided that insurance proceeds are available to fully repair for any casualty during the damagelast year of the Term, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder restoration period shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days90 days, rather than 270 days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord the provisions of Article 15(a) shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage govern.
(except that c) Landlord shall not be liable for any damage to, or be required (under any provision of this Lease or otherwise) to rebuildrepair, repair restore or replace replace, any alterationsproperty in the Premises, partitionsnor be liable to Tenant for damage arising from rain or snow or from the bursting, fixturesoverflowing or leakage of water, additions and other improvements which may have been placed insteam or gas pipes or defect in the plumbing, on HVAC, mechanical or about electrical systems of the Building by or for Premises unless resulting from the benefit ofgross negligence of Landlord, Tenant not being contributorily negligent.
Appears in 1 contract
Samples: Lease (Replidyne Inc)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the rent hereunder shall be proportionately abated as provided in Section 22.1. If Landlord has the right to terminate this Lease pursuant to this Article 22, Landlord agrees to exercise such right in a nondiscriminatory fashion among leases affecting the Building. Consideration of the following factors in arriving at its decision shall not be deemed discriminatory: Length of term remaining on the Lease, time needed to repair and restore, costs of repair and restoration not covered by insurance proceeds, Landlord’s plans to repair and restore common areas serving the Premises, Landlord’s plans for repair and restoration of the Building, except that and other relevant factors of Landlord’s decision as long as they are applied to Tenant in the same manner as other tenants.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon this Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence request.
22.7 Tenant hereby waives any and diligently prosecute to completion all rights under and benefits of Sections 1932(2) and 1933(4) of the repairs to the Building California Civil Code, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and similar or successor Regulations or other improvements which may have been placed in, on laws now or about the Building by or for the benefit ofhereinafter in effect.
Appears in 1 contract
Casualty. If 22.1 Landlord shall maintain all insurance policies deemed by Landlord to be reasonably necessary or desirable and relating in any manner to the protection, preservation or operation of the Premises, including by not limited to, standard fire and extended coverage insurance covering the Premises in an amount not less than ninety percent (90%) of the replacement cost thereof insuring against the perils of fire and lightning and including extended coverage or, at Landlord’s option, all risk coverage and, if Landlord so elects, earthquake, flood and wind coverages and Tenant shall pay, as additional rent, the cost of such policies upon demand by Landlord. Such insurance shall be for the sole benefit of Landlord and under its sole control. Tenant shall not take out separate insurance concurrent in form or contributing in the event of loss with that required to be maintained by Landlord hereunder unless Landlord is included as a loss payee thereon. Tenant shall immediately notify Landlord whenever any such separate insurance is taken out and shall promptly deliver to Landlord the policy or policies of such insurance.
22.2 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.3 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.2.
22.4 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.5 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.5, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.6 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.7 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Samples: Lease Agreement (Power Solutions International, Inc.)
Casualty. If all or any portion of the Premises becomes untenantable or all or any material portion of the Building should necessary for access to or beneficial use of the Premises shall be damaged or destroyed by fire or other casualtycasualty (collectively a “Casualty”), Tenant then Landlord, with reasonable promptness, shall give immediate cause a licensed general contractor reasonably 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 (exclusive of Tenant’s Property and the Tenant-Insured Improvements) and any Common Areas necessary to provide access to or beneficial use of the Premises to substantially their condition prior to the Casualty to the extent reasonably practicable (subject to compliance with Laws) (“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 or beneficial use of the Premises cannot be restored to substantially their condition prior to the Casualty to the extent reasonably practicable (subject to compliance with Laws) within two hundred seventy (270) days from the date of the Casualty, then either party shall have the right to terminate this Lease upon written notice to Landlord. Within the other within thirty (30) days after Tenant’s receipt thereofof the Completion Estimate. Tenant, Landlord however, shall notify not have the right to terminate this Lease in accordance with this Section 14.01 if the Casualty was caused by the negligence or intentional misconduct of Tenant whether such repairs can reasonably be madeor any Tenant Related Parties. In addition, Landlord, by notice to Tenant within sixty (60) days after the date of the Casualty, shall have the right to terminate this Lease if: (1) within thirty the Premises have been materially damaged during the last twelve (3012) daysmonths of the Term; (2) in more than thirty (30) days but in less than ninety (90) daysany Mortgagee requires that all or a material portion of the insurance proceeds be applied to the payment of the mortgage debt owed to such Mortgagee; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs a material uninsured loss to the Building or Premises occurs. If this Lease is terminated by either party on account of any Casualty as provided in this Article 14, provided then Tenant shall pay to Landlord (by assignment or otherwise) an amount equal to the insurance proceeds are available actually received by Tenant under the policy(ies) referred to fully repair in Section 13.02(b) on account of the damage to or loss of the Leasehold Improvements in the Premises less a reasonable allocation of Tenant’s actual out-of-pocket third party costs, if any, to adjust and collect such proceeds; however, from any such proceeds actually received by Tenant, Tenant shall be entitled to retain an amount equal to the unamortized portion (except that amortized over the initial Term on a straight-line basis) of the hard costs paid by Tenant to perform any Alterations (excluding, however, any amounts paid by Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about perform the Building by or for the benefit ofInitial Tenant Work).
Appears in 1 contract
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant my at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost end expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence request.
22.7 Tenant hereby waives any and diligently prosecute to completion all rights under and benefits of Sections 1932(2) and 1933(4) of the repairs to the Building California Code of Civil Procedure, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and similar or successor Regulations or other improvements which may have been placed in, on laws now or about the Building by or for the benefit ofhereinafter in effect.
Appears in 1 contract
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within two hundred seventy (30270) days after receipt thereoffrom the date of damage, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.122.2 If such repairs cannot, in Landlord’s reasonable estimation, be made within two hundred seventy (270) days from the date of damage, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. Less Than 30 Days. If In the Building should be damaged only to event of the giving of such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysnotice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be earned by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for up to six (6) months for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twenty-four (24) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
right to terminate this Lease by delivering written notice of termination to Tenant within fifteen (115) terminating days after such requirement is made by any such holder, whereupon this Lease shall end on the Lease effective upon the occurrence date of such damagedamage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, in which event the Rent it shall be abated Tenant’s responsibility to properly secure the Premises and upon notice from Landlord to remove forthwith, at its sole cost and expense, such portion of all of the date property belonging to Tenant vacates or its licensees from such portion or all of the Building; Building or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Premises as Landlord shall request.
22.7 Tenant hereby waives any and all rights under and benefits of Sections 1932(2) and 1933(4) of the California Civil Code, or any similar or successor Regulations or other laws now or hereinafter in effect.
22.8 Landlord will not be required entitled to rebuild, repair or replace any part terminate this Lease solely because the casualty occurs during the last twenty-four (24) months of the alterationsTerm if Tenant has an exercisable option to renew or extend the Term and Tenant, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after receipt of Landlord’s notice from Landlord regarding of termination, validly exercises such right (the time period periods for exercise of repair; and the option to renew set forth in Section 39.1.1 shall not apply for purposes of this Lease and the Rent Section 22.8). The foregoing shall be abated not prohibit Landlord from the date Tenant vacates the Building. In the event that neither party elects exercising its right to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion for any of the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofreasons set forth herein.
Appears in 1 contract
Casualty. If 22.1. In the Building should be event the Premises are damaged or destroyed by fire or other casualtycause and in Landlord’s reasonable estimation such damage can be materially restored within 180 days, Landlord shall forthwith repair the same to the condition existing prior to such casualty and this Lease shall remain in full force and effect, except that Tenant shall give immediate written notice be entitled to Landlorda proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage arid the making of such repairs shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made. For purposes of this Lease, the Premises shall be deemed “materially restored” if they are restored to such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days22.2. If such repairs cannot, in Landlord’s reasonable estimation, be made within 180 days, Landlord and Tenant shall each have the Building should be damaged only to option of giving the other, at any time within sixty (60) days after such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysdamage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in. this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully then Landlord shall promptly repair the or restore such damage, this Lease continuing in full force and effect, and the rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3. Except with respect to items insured by or required to be insured by Landlord shall repair the Buildingpursuant to Section 11 of this Lease, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and damage or loss by or from fire or other improvements cause to any of Tenant’s Property. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of Tenantthe party carrying such insurance and under its sole control.
22.4. The Rent payable hereunder shall be abated proportionately from In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant vacates may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the Building only expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term.
22.5. Notwithstanding anything to the extent rental abatement insurance proceeds are received contrary contained in this Article, if material damage to the Premises shall occur during the last twenty-four months of the Term, either party may terminate this Lease by Landlord and written notice to the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than other within thirty (30) days but in less than ninety after the date of such damage (90) days, then unless within such 30-days after Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofsuch
Appears in 1 contract
Samples: Lease (Dunkin' Brands Group, Inc.)
Casualty. (a) If the Building should and/or Premises shall be so damaged by fire or destroyed by other casualty so as to prevent Tenant from conducting or partially conducting its business for the Intended Uses in the Premises, and if such damage shall be so great that the Premises with the exercise of reasonable diligence, but without the payment of overtime or other premiums cannot be made fully operational for the Tenant within 180 days from the happening of the fire or other casualty, or if the damage can be repaired to make the Premises fully operational for the Tenant shall give immediate written notice within the 180-day period from the happening of the fire or other casualty, but insurance proceeds are not made available to LandlordLandlord for repair of such damage, then Landlord or Tenant may terminate this Lease. Within thirty (30) days after receipt thereofIf neither Landlord nor Tenant terminates this Lease as set forth above, then, except as hereinafter provided, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) dayswith reasonable promptness, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, damage so done except that Landlord shall not be required to rebuildrepair, replace or restore any personal property of Tenant specified in the first sentence of Section 13(b). Until such repair or replace any alterationsis substantially completed, partitions, fixtures, additions the Base Rent and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder Operating Cost shall be abated proportionately from the date Tenant vacates the Building only in proportion to the extent rental part of the Premises which is unusable by Tenant in the reasonable conduct of its business or profession. There shall be no abatement insurance proceeds are received of Base Rent or the Operating Costs by Landlord and reason of any portion of the Building are unfit Premises being unusable for occupancy.
11.1.2. Greater Than 30 Daysa period of ten (10) days or less, unless covered by Landlord’s loss of rent insurance. If the Building should damage is due to the fault or negligence of Tenant or Tenant’s employees, agents or invitees, there shall be no abatement of Base Rent and the Operating Costs, unless covered by Landlord’s loss of rent insurance.
(b) If the Premises shall be damaged only by fire or other casualty, but not so as to such extent that rebuilding prevent Tenant from conducting or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) dayspartially conducting its business for the Intended Uses, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair cause the damage (except that Landlord shall for Tenant’s personal property specified in the first sentence of Section 13(b)) to be repaired with reasonable promptness and, if not be required repaired sufficiently to rebuild, repair or replace any part avoid materially impacting the operations of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding days, there shall be an abatement of Base Rent and Operating Costs in proportion to the time period portion to the material impact to the operations of repair; and this Lease the Tenant. If the fire or other casualty causing damage to the Premises shall have been caused by the negligence of Tenant, or Tenant’s employees, agents or invitees, there shall be no abatement of rent, such damage shall be repaired by Landlord, and the Rent amount paid for such repair shall be abated due from Tenant to Landlord with interest at the Default Rate from the date Tenant vacates the Building. In the event that neither party elects to terminate this Leasedates of Landlord’s payments, unless Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building is paid for such loss by or for the benefit ofinsurance.
Appears in 1 contract
Samples: Lease Agreement
Casualty. If In the Building should be event the Leased Premises are damaged or destroyed by fire or other casualtycasualty covered by Landlord's insurance, Landlord shall repair the damage at its expense within a reasonable time. If the damage cannot be repaired within one hundred eighty (180) days (as estimated by an architect chosen by Landlord), this Lease may be terminated by either Landlord or Tenant shall give immediate by written notice to Landlord. Within within thirty (30) days after receipt thereofof the architect's damage certification and shall then terminate as of the date such notice is given, Tenant shall pay all rent due under this Lease, prorated to the date of such notice, and all other sums owing at that time and shall immediately surrender possession of the Leased Premises to Landlord. However, if the damage can be repaired within one hundred eighty (180) days or if it cannot be repaired within such time but neither party exercises its option to terminate this Lease, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) shall, within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only damage, begin to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord Leased Premises and shall repair proceed with reasonable diligence to restore the Building, except that Leased Premises to the same condition as existed immediately prior to the occurrence of such casualty. The rent shall be abated during the time the premises are unfit for occupancy. Landlord shall not be required to rebuild, repair or replace any alterationsof the furniture, partitionsequipment, fixtures, additions and fixtures or other improvements which may have been placed in, on or about the Building Leased Premises by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from In the date Tenant vacates event any mortgagee under a deed of trust, security agreement or mortgage on the Building only to building should require that the extent rental abatement insurance proceeds are received by Landlord and be used to retire the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysmortgage debt, then Landlord shall have no obligation to rebuild and this Lease shall terminate upon written notice to Tenant. In the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall building is so badly damaged by fire or other casualty, even though the Leased Premises may not be abated from the date Tenant vacates the Building; or (2) electing to repair the Buildingaffected, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuilddecides, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from the destruction, not to rebuild or repair the building (such decision being vested exclusively in the discretion of Landlord), then in such event Landlord regarding the time period of repair; shall notify Tenant in writing and this Lease shall terminate as of the time such notice is given, and the Rent Tenant shall be abated from pay rent hereunder apportioned to the time such notice is given and shall pay all other obligations of Tenant owing on the date of termination, and Tenant vacates shall immediately surrender the BuildingLeased Premises to Landlord. In Notwithstanding the event foregoing provisions of this Section 24, Tenant agrees that neither party elects if the Leased Premises or any other part of the building is damaged by fire or other casualty caused by the fault or negligence of Tenant or Tenant's agents, employees or invitees, Tenant shall have no option to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair even if the damage cannot be repaired within one hundred eighty (except that Landlord 180) days and the rent shall not be required to rebuild, abated or reduced before or during the repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofperiod.
Appears in 1 contract
Samples: Standard Office Lease Agreement (Atsi Communications Inc/De)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty 's reasonable estimation such damage can be materially restored within one ht:.ndred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord's reasonable estimation of the length of time within which material restoration can be made, and Landlord 's determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant 's use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord's reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on or about the Building be carried by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding against loss or damage to the time period of repair; and this Lease and the Rent Building or Premises shall be abated from for the date Tenant vacates sole benefit of the Building. party carrying such insurance and under its sole control.-
22.4 In the event that neither party elects Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Lxxxx ord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this LeaseLease by delivering written notice to Landlord , within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord shall promptly commence and diligently prosecute to completion the repairs is so delayed.
22.5 Notwithstand ing anything to the Building , provided insurance proceeds are available to fully repair the damage contrary contained in this Article: (except that a) Landlord shall not be required have any obligation whatsoever to rebuildrepair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twel ve (12) months of the Term or any extension thereof, but if Landlord determines not to repair or replace such damages Landlord shall notify Tenant and if such damages shall render any alterations, partitions, fixtures, additions and other improvements which may material portion of the Premises untenantable Tenant shall have been placed in, on or about the Building right to terminate th is Lease by or for the benefit ofnotice to Landlord within fifteen 11/02 SOG (BY)-INS Revised 10/03 629620.v x DALLAS:74008/000l3:1276703v6
Appears in 1 contract
Samples: Lease Agreement (Wageworks, Inc.)
Casualty. In the event of a fire or other casualty in the Leased Premises, Tenant shall immediately give notice thereof to Landlord. If the Leased Premises shall be destroyed by fire or other casualty so as to render the Leased Premises untenantable in whole or in part, Base Rental shall xxxxx equitably thereafter as to the portion of the Leased Premises rendered untenantable (based upon the square footage of the Net Rentable Area rendered untenantable) until the earlier to occur of 6.10. sixty (60) days after the date Tenant is permitted to commence repair of its leasehold improvements for the portion of the Leased Premises so damaged, or 6.11. the date the Leased Premises are made tenantable. Landlord agrees to commence and prosecute repair of the Building should be Standard Improvements promptly and with all due diligence, and Tenant agrees to commence and prosecute repair of its leasehold improvements promptly and with all due diligence, subject in each case to delays for insurance adjustments and delays caused by matters beyond the applicable party's control, zoning laws and building codes then in effect, and to the termination rights set forth below. In the event any portion of the Complex is damaged or destroyed by fire or other casualty, and if such damage is such that Landlord cannot reasonably be expected to substantially complete its repair work within one hundred eighty (180) days after the date of casualty, as reasonably estimated by a responsible contractor selected by Landlord, then Landlord shall have the right to terminate this Lease and all Rent owing under this Lease up to the time of such destruction or termination shall be paid by Tenant and thenceforth this Lease shall cease and come to an end. Landlord shall give Tenant written notice of its decisions, estimates or elections under this Section 6.5 within sixty (60) days after any such damage or destruction. In the event any portion of the Leased Premises is damaged by fire or other casualty, and if such damage is such that Landlord cannot reasonably be expected to substantially complete its repair work of the Building Standard Improvements within the Leased Premises within one hundred eighty (180) days after the date of the casualty to the extent necessary to allow Tenant to commence repair of its leasehold improvements, as reasonably estimated by a responsible contractor selected by Landlord, and Landlord has not terminated this Lease as herein provided, then Tenant shall give immediate written notice to Landlord. Within have the right, within thirty (30) days after receipt thereofLandlord delivers the estimate to Tenant of time to restore, Landlord shall notify Tenant whether such repairs can reasonably be made: to terminate this Lease. Notwithstanding anything to the contrary contained in this Section 6.5, if at the time of any damage to the Complex, less than one (1) within thirty year remains in the Term, then Landlord, at Landlord's sole option, shall have the right to terminate this Lease. Additionally, notwithstanding anything to the contrary contained in this Section 6.5, (30a) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair be obligated to restore or rebuild (i) the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building damaged property only to the extent rental abatement of the net insurance proceeds are made available to Landlord for restoration or rebuilding by the holder of any mortgage or deed of trust or lessor under any ground lease, and (ii) only the portion of the Leased Premises that consists of Building Standard Improvements and only to the condition that existed immediately prior to the casualty, and nothing herein shall be construed to obligate Landlord under any circumstances to repair or restore any of Tenant's leasehold improvements in excess of Building Standard Improvements, and (b) if the Leased Premises, the Project, or the Complex, or any portion thereof, shall be damaged through the negligence or willful misconduct of Tenant or any of its agents, employees or invitees, the cost of any repairs made by Landlord not covered by insurance proceeds received by Landlord shall be paid by Tenant and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancycontinue unabated.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if, in the reasonable opinion of Landlord and Tenant, such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Casualty. 17.1 If there is any damage to or destruction of the Demised Premises, LESSEE shall promptly give notice thereof to LESSOR, describing the nature and extent thereof.
17.2 If the Building should Demised Premises are damaged, but no portion thereof is rendered unusable for LESSEE’S business, and this Lease is not terminated pursuant to Section 17.4, 17.5 or 17.6 hereof, LESSOR shall, at its own expense and not as a LESSOR’S Operating Expense, cause Restoration to be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can completed as soon as reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days practicable but in less than ninety (90) days; or (3) in more no event later than ninety (90) days from the date of such noticeoccurrence, subject to any Excusable Delays, and the Basic Rent and Additional Rent shall not xxxxx.
11.1.1. Less Than 30 Days. 17.3 If the Building should be Demised Premises are damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysdestroyed and are rendered partially or wholly unusable for LESSEE’S business, and this Lease is not terminated pursuant to Section 17.4, 17.5 or 17.6 hereof, LESSOR shall, at its own expense and not as a LESSOR’S Operating Expense, cause Restoration to be completed as soon as reasonably practicable but in no event later than two hundred seventy (270) days from the occurrence, subject to any Excusable Delays, and the Basic Rent and Additional Rent shall not terminate andbe equitably abated until the completion of Restoration of the Demised Premises based upon the portion of the Demised Premises which is unusable for the conduct of LESSEE’S business and which requires Restoration. LESSOR shall reasonably cooperate with LESSEE during any such Restoration so that LESSEE may simultaneously restore alterations and improvements which were made by LESSEE; provided, provided that insurance proceeds are available to fully repair the damagehowever, Landlord shall repair the Building, except that Landlord LESSOR shall not be required to rebuild, repair delay any Restoration or replace to otherwise permit any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit interference with Restoration as part of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Dayssuch cooperation. If the Building should be damaged only to such extent at any time LESSOR reasonably determines that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysLESSEE’S restoration of alterations and improvements is interfering with Restoration, then Landlord LESSOR shall have the option of:right to require LESSEE to cease performing its restoration until such time as resumption of restoration work by LESSEE will not interfere with LESSOR’S Restoration.
(1) terminating the Lease effective upon the occurrence of such damage17.4 If, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Buildingsole opinion of LESSOR, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If damaged or destroyed and the total cost of Restoration shall amount to forty percent (40%) or more of the full insurable value of the Building should be so damaged that rebuilding (not including any value attributable to improvements or repairs cannot be completed within ninety (90) daysalterations made by LESSEE), either Landlord or Tenant LESSOR, in lieu of Restoration, may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects elect to terminate this Lease, Landlord provided that notice of such termination shall promptly commence be sent to LESSEE within sixty (60) days after the occurrence of such casualty. If LESSOR exercises its right to terminate this Lease, this Lease shall cease, terminate and diligently prosecute expire, and all Basic Rent and Additional Rent shall be prorated, as of the date of such damage or destruction.
(a) If any part of the Demised Premises or other portions of the Building are damaged or destroyed, LESSOR shall, within forty five (45) days of the occurrence of such casualty, furnish LESSEE with a reasonable estimate (the “Estimate”) from an independent architect selected by LESSOR of the amount of time required to completion the repairs complete Restoration to the Building , provided insurance proceeds are available Demised Premises and to fully repair the damage entire Building.
(except that Landlord shall not be required to rebuild, repair or replace b) If any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about part of the Building by is damaged or destroyed and the Estimate provides that more than two hundred seventy (270) days are necessary to complete Restoration of the Building, or if during the final year of the Term the Demised Premises are damaged or destroyed and rendered partially or wholly unusable for LESSEE’S business, LESSOR may elect to terminate this Lease provided notice of such termination shall be sent to LESSEE within sixty (60) days after the benefit ofoccurrence of such casualty. If LESSOR exercises its right to terminate this Lease, this Lease shall cease, terminate and expire, and all Basic Rent and Additional Rent shall be prorated, as of the date of such damage or destruction.
(c) If the Demised Premises is damaged or destroyed and rendered partially or wholly unusable for LESSEE’S business and the Estimate provides that more than two hundred seventy (270) days are necessary to complete Restoration to the Demised Premises, or if during the final year of the Term the Demised Premises are damaged or destroyed and rendered partially or wholly unusable for LESSEE’S business, LESSEE may elect to terminate this Lease provided notice of such termination shall be sent to LESSOR, in the case of a termination based on an Estimate of more than 270 days, within fifteen (15) days after LESSEE’S receipt of the Estimate or, in the case of a termination due to a casualty occurring during the final year of the Term, within sixty (60) days after the date of the casualty. IF LESSEE exercises its right to terminate this Lease, this Lease shall cease, terminate and expire, and all Basic Rent and Additional Rent shall be prorated, as of the date of such damage or destruction.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Casualty. If 22.1 In the Building should be event the Premises are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in Rent from the date of such damage. Such abatement of Rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord shall have the option of giving Tenant, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall terminate and all interest of the Tenant in the Premises shall terminate as of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that Landlord does not exercise its option to terminate andthis Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that Rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railing, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of Tenant. The Rent payable hereunder the party carrying such insurance and under its sole control, and shall be abated proportionately from Tenant’s sole source of recovery for such damage as Tenant here expressly waives any claim against all Landlord Entities for damage under this Article 22.
22.4 In the event that Landlord shall fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant vacates may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the Building only expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, force majeure, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable. Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility properly to secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Samples: Lease (1847 Holdings LLC)
Casualty. If the Premises, the Building should or Property shall be damaged or destroyed by fire or other casualty insurable under standard coverage insurance to the extent of less than twenty-five percent (25%) of the reasonable replacement value thereof at the time of such damage or destruction, Landlord shall, except as otherwise provided herein, repair and/or rebuild the same with reasonable diligence, but Landlord's obligation hereunder shall be limited to the condition of the Premises as of the Rent Commencement Date hereof and shall also be subject to zoning and building laws then applicable to the Premises. Landlord's obligation hereunder shall be limited to the proceeds received and retained by Landlord (net of any amounts required to be paid to Landlord's mortgagee) under the insurance policy which is allocable to the Premises and Landlord shall not be obligated to commence such repairs and/or rebuilding until such insurance proceeds are released to Landlord. Tenant shall repair or restore with due diligence all trade fixtures, equipment and other installations theretofore installed by Tenant to the extent of Tenant's obligations as set forth in Exhibit B and damaged or destroyed by such fire or casualty. Within sixty (60) days after any damage to the Premises or the Property by fire or other casualty, Landlord shall give written notice to Tenant of Landlord's reasonable estimate of the time required to complete the restoration of the Premises or the Property according to this Section XV (including any time needed to collect proceeds of insurance from such damage). If the estimate of the time to complete such restoration exceeds two hundred-ten (210) days from the date of receipt of such notice, Tenant shall give immediate written notice have the right to Landlord. Within terminate this Lease within thirty (30) days after receipt thereofreceiving such notice from Landlord. If the Premises shall be damaged as a result of a risk which is not required to be covered by insurance under this Lease, Landlord or if the Premises shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; damaged or destroyed to the extent of 25% or more of its reasonable replacement value in the last two (2) in more than thirty years of the then current term of this Lease (30) days but in less than ninety (90) days; unless Tenant shall exercise, before or (3) in more than ninety (90) days from after to the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair any remaining option to extend the Buildingterm of this Lease), except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
right to terminate this Lease within sixty (160) terminating the Lease effective upon the occurrence of days after such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace occurs. In any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either instance where Landlord or Tenant may shall have an election to terminate this Lease by giving written reason of such damage or destruction, it shall give the other notice of its election within ten sixty (1060) days after notice from such damage or destruction, and in such event, if Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects elect to terminate this Leaserestore or rebuild, Landlord shall promptly commence proceed to do so and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord Tenant shall not be required to rebuild, repair replace or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrestore with due diligence all
Appears in 1 contract
Samples: Lease Agreement (Net Genesis Corp)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made in proportion to the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the Permitted Use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in a substantially similar condition as of the date of this Lease, reasonable wear and tear excepted, and provided that Landlord shall have no obligation to restore and/or replace the Improvements or any alterations or other improvements made to the Premises.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1. Landlord shall not in bad faith terminate this Lease pursuant to the terms of this Section 22.2 solely for the purpose of replacing Tenant with a successor tenant.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement party carrying such insurance proceeds are received by Landlord and the Building are unfit for occupancyunder its sole control.
11.1.2. Greater Than 30 Days. If 22.4 In the Building event that Landlord should be damaged only fail to complete such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than and material restoration within ninety (90) daysdays after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon this Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds be applied to such indebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence request.
22.7 Tenant hereby waives any and diligently prosecute to completion all rights under and benefits of Sections 1932(2) and 1933(4) of the repairs to the Building California Civil Code, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and similar or successor Regulations or other improvements which may have been placed in, on laws now or about the Building by or for the benefit ofhereinafter in effect.
Appears in 1 contract
Casualty. If during the Term of this Lease, as may be extended by an Option Term or otherwise, any portion of the Premises, access to the Premises or any part of the Building should be is damaged or destroyed and such damage or destruction can, in Landlord's reasonable estimation, be repaired within 270 days following such damage or destruction, and Landlord receives insurance proceeds sufficient to restore such damage, this Lease shall remain in full force and effect and Landlord shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage, and shall complete such repair and restoration with due diligence in compliance with all then existing laws. Notwithstanding the foregoing, if (1) such damage or destruction cannot, in Landlord's reasonable estimate, be repaired within 270 days following such damage or destruction; or (2) more than seventy percent (70%) of the Building is damaged or destroyed; or (3) any Mortgagee of the Building will not allow the application of insurance proceeds for repair and restoration; or (4) the damage or destruction is not covered in full by fire Landlord's Insurance required by Paragraph 16, subject to the deductible, or other casualty(5) the damage or destruction occurs within the last twelve (12) months of the Term of this Lease or any extension hereof, Tenant shall give immediate written then Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Landlord. Within Tenant within thirty (30) days of the date Landlord learns of the damage; provided, however, that if such fire or other casualty shall have damaged the Premises or a portion thereof or Common Areas necessary to Tenant's occupancy and as a result of such damage the Premises are unfit for occupancy, and provided that Landlord does not elect to terminate this Lease pursuant to Landlord's termination right as provided above, and either (i) the repairs cannot, in the reasonable opinion of Landlord's contractor, be completed within nine (9) months after receipt thereofthe date of such damage or destruction, or (ii) the repairs are not completed and the Premises delivered to Tenant ready for occupancy within nine (9) months after the date of such damage or destruction, Tenant may elect, in Tenant's sole discretion, to terminate this Lease by written notice to Landlord effective as of the date specified in the notice, which date shall notify Tenant whether such repairs can reasonably not be made: (1) within thirty (30) days; (2) in more less than thirty (30) days but in less than ninety (90) days; or (3) in nor more than ninety (90) days from after the date of such notice.
11.1.1. Less Than 30 Days. If notice is given by Tenant; provided, however, if Tenant elects to terminate this Lease pursuant to clause (ii) above and Landlord completes such repairs and delivers the Building should be damaged only Premises to such extent that rebuilding or repairs can be reasonably completed Tenant ready for occupancy within thirty (30) daysdays following receipt of Tenant's written election to terminate, then this Lease shall not shall, at Landlord's sole option, remain in full force and effect and Tenant's previous election to terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord deemed void and the Building are unfit for occupancyof no further force or effect.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty 's reasonable estimation such damage can be materially restored within one hundred fifty (30150) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord's reasonable estimation of the length of time within which material restoration can be made, and Landlord's determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant's use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.122.2 If such repairs cannot, in Landlord's reasonable estimation, be made within one hundred fifty (150) days or in the event of substantial destruction of the Premises (i.e., a destruction to an extent of at least fifty percent [50%] of the then full replacement cost of the Premises as of the date of destruction) during the last two (2) years of the Term, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. Less Than 30 Days. If In the Building should be damaged only to event of the giving of such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysnotice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon this Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord's notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant's responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Samples: Lease (Patrick Industries Inc)
Casualty. Section 14.1 If (a) the Building should be Premises is damaged or destroyed by fire or other casualty, or (b) the Building (including any Building system) is damaged by fire or other casualty so that Tenant is deprived of reasonable access to the Premises or any part of the Premises, Tenant shall give immediate written prompt notice to Landlord. Within thirty (30) days after receipt thereofSubject to the provisions of this Article, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysLandlord shall, this Lease shall not terminate andat Landlord's expense, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building damage (but only to the extent rental abatement that Landlord receives insurance proceeds are received for such repair), excluding the damage to Tenant's Work or Tenant's Property, and (2) Tenant shall, at Tenant's expense, promptly remove Tenant's Property from the Premises to the extent required by Landlord and in connection with Landlord's repair of the damage. Until the repairs to be performed by Landlord are substantially completed, the Rent shall be reduced in proportion to the area of the Premises to which Tenant shall not have reasonable access or which is unusable by Tenant for the reasonable conduct of Tenant's normal business in the Premises.
Section 14.2 If Landlord reasonably estimates that either (x) the time period to repair any damage to the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If caused by fire or other casualty will exceed 180 days, or (y) the cost of repairing any such damage to the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysexceeds 25 percent of the replacement cost of the Building, then (in either such case), whether or not the Premises are damaged, Landlord shall have the option of:right, by notice to Tenant within 60 days following the date of the damage, to terminate this lease (effective as of the date set forth in such notice).
Section 14.3 If(a) this lease is not terminated as provided in this Article, (1b) terminating the Lease repair required by this Article to be performed by Landlord is not substantially complete one year following the fire or other casualty, and (c) there is then no Default, then Tenant shall have the right, by notice to Landlord within 10 days following the end of that period, to terminate this lease effective upon the occurrence date which is 30 days following the date of such damageits notice, in which event Tenant shall pay the Rent shall be abated from to the date Tenant vacates of termination (or the Building; date of the fire or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except other casualty for that Landlord shall not be required to rebuild, repair or replace any part of the alterationsPremises with respect to which the Rent is reduced pursuant to Section 14.1), partitions, fixtures, additions and other improvements which may have been placed in, the Term shall expire on that date.
Section 14.4 The parties agree that this Article 14 constitutes an express agreement governing any case of damage or about destruction of the Premises or the Building by fire or other casualty, and that Section 227 of the Real Property Law of the State of New York, which provides for such contingency in the benefit absence of Tenant). The Rent payable hereunder an express agreement, and any other law of like import now or hereafter in force shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyhave no application in any such case.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Casualty. If the Premises or the Building shall be damaged or ----------- -------- destroyed by fire or other casualty insurable under standard coverage insurance to the extent of less than fifty percent (50%) of the reasonable replacement value thereof at the time of such damage or destruction, Landlord shall, except as otherwise provided herein, repair and/or rebuild the same with reasonable diligence, but Landlord's obligation hereunder shall be limited to the performance of Landlords work, if any, in accordance with Exhibit B hereof and --------- shall also be subject to zoning and building laws then applicable to the Premises. Landlord's obligation hereunder shall be limited to the proceeds received and retained by Landlord under the insurance policy which is allocable to the Premises and Landlord shall not be obligated to commence such repairs and/or rebuilding until such insurance proceeds are released to Landlord. Tenant shall repair or restore with due diligence all trade fixtures, equipment and other installations theretofore installed by Tenant and damaged or destroyed by such fire or casualty and shall be entitled to retain all insurance proceeds relating thereto. If the Premises or the building of which they are a part shall be damaged or destroyed to the extent of fifty percent (50%) or more of the reasonable replacement value thereof at the time of such damage or destruction, or shall be damaged or destroyed as a result of a risk which is not covered by insurance, or shall be damaged or destroyed to any extent by any cause in the last year of the then current term of this Lease (unless Tenant shall have exercised prior to the date of said fire or other casualty or then exercises any remaining option to extend the term of this Lease), or if the Property (whether or not including the Premises or the Building) should be damaged or destroyed to the extent of twenty-five percent (25%) or more of the reasonable replacement value thereof at the time of such damage or destruction, the Landlord may at its sole election restore or rebuild the Premises, the Building or the Property, as the case may be, or terminate this Lease; provided, however, Tenant's Lease shall not be the only lease in the Building so terminated in the event lease termination is on account of damage or destruction to the extent of twenty-five percent (25%) or more of the reasonable replacement value of the Property; and provided further, however, if said termination is as a result of a fire or other casualty having occurred during the last year of the then current term of this Lease, Tenant may invalidate said termination by exercising within thirty (30) days after Landlord's notice of termination any remaining option to extend the term of this Lease, In any instance where Landlord shall have an election to terminate this Lease by reason of such damage or destruction, it shall give Tenant notice of its election within sixty (60) days after such damage or destruction. Tenant shall, during any period of reconstruction or repair of the Premises, the Building and/or of the Property continue the operation of its business in the Premises to the extent reasonably practicable. If the Premises or any part thereof, or the Building shall be damaged or destroyed by fire or other casualty (irrespective of the time when such damage or destruction shall occur, and irrespective of whether or not Landlord shall be insured against the perils causing same) and if as a result thereof the Premises shall be rendered untenantable to an extent which would reasonably require the Tenant to curtail a part of its business operation, then a just proportion of the Rent and Additional Rent reserved hereunder shall be suspended or abated according to the extent to which Tenant may be reasonably required to discontinue its business in the Premises until the work of restoration to be done by Landlord as aforesaid shall be substantially completed and (i) sixty (60) days shall have elapsed from the date of completion of the Landlords restoration work, or (ii) the Tenant shall be operating in the entire Premises, whichever shall first occur, or (iii) if this Lease and the term hereof shall terminate as hereinbefore provided, until such termination. In the event the Lease is not terminated and Landlord shall fail to achieve substantial completion of such repairs and restoration within six (6) months from the time of destruction or casualty, (provided, however, that such time period shall be extended day-for-day by any delays caused by Tenant shall give immediate written notice and for up to Landlord. Within a maximum of thirty (30) days after receipt thereofas a result of any force majeure), and Tenants use and enjoyment of the Premises is then materially impaired by the uncompleted restoration, Tenant may, at its option, deliver notice (the "Notice of Intent to Terminate") to Landlord shall notify Tenant whether of Tenants intent to terminate this Lease. If Landlord fails to achieve substantial completion of such repairs can reasonably be made: (1) repair and restoration within thirty (30) days; days of Landlord's receipt of the Notice of Intent to Terminate, then Tenant may at its option terminate this Lease by delivering a further notice of termination (2the "Termination Notice") in more than thirty (30) days to Landlord at any time thereafter, but in less than ninety (90) days; or (3) in more than ninety (90) days from prior to substantial completion of such repair and restoration, whereupon the Lease shall end on the date of such noticeTermination Notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Casualty. A. If the Building should Premises shall be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to promptly notify Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, and Landlord shall repair the Buildingdamaged portions of the Premises (but not any of the Tenant's property therein or improvements or alterations made by the Tenant unless the same are insured under the policy referred to in Section 9.D above), except that if, in Landlord's reasonable judgment, the damage would require more than sixty days work to repair, or if the insurance proceeds (excluding rent insurance) which Landlord shall not anticipates receiving must be required applied to rebuild, repair or replace repay any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about mortgages encumbering the Building by or for are otherwise inadequate to pay the benefit cost of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysrepair, then the Landlord shall have the option of:right to terminate this Lease by so notifying Tenant, which notice shall specify a termination date not less than fifteen (15) days after its transmission. If Landlord is so required to repair, the work shall be commenced promptly and completed with due diligence.
(1) terminating B. During the Lease effective upon period when Tenant shall be deprived of possession of the occurrence Premises by reason of such damage, in which event the Tenant's obligation to pay Base Rent under Section 5 and Operating Expense Allowance under Section 6 shall be abated from xxxxx as of the date Tenant vacates of the Building; casualty in the proportion which the damaged area of the Premises bears to the entire Premises (except if the damaged area renders the entire Premises unusable or not reasonably fit for its intended use).
C. If Landlord does not restore the Premises or the affected portion to tenantability within one hundred eighty (2180) electing to repair days after such casualty (provided that the Building, provided insurance proceeds are available to fully repair nature of the damage is such that it reasonably could be repaired within one hundred eighty (except that Landlord shall not be required to rebuild180) days after commencement of work), repair or replace any part of so commences restoration and pursues the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs same with due diligence if restoration cannot be completed within ninety such one hundred eighty (90180) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to then terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs retroactive to the Building date of casualty; provided, provided insurance proceeds however, such one hundred eighty (180) day period shall be extended by causes delaying the work of restoration which are available beyond Landlord's reasonable control, not to fully repair the damage exceed an additional sixty (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of60) days.
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Casualty. Tenant shall promptly give Landlord written notice of any fire or other casualty occurring within the Premises. If the Premises or other parts of the Building should be or Project reasonably required for Tenant's use and quiet enjoyment of the Premises are damaged or destroyed by fire or other casualtycasualty then, Tenant shall give immediate written notice subject to Landlord. Within thirty (30) days after receipt thereofthe following provisions of this Article, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully promptly repair the damage. If, however, the damage (a) is not covered by insurance carried by Landlord shall repair hereunder, (b) is covered by insurance carried by Landlord hereunder, but Landlord's mortgagee requires that proceeds of such insurance be used to retire the mortgage debt, (c) is to such an extent that the cost of repairs will be greater than 10% of the then full replacement cost of the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about (d) occurs during the Building by or for last 12 months of the benefit then effective Term of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysthis Lease, then Landlord shall have the option of:
(1i) terminating to repair the damaged Premises and any other damaged parts of the Building or Project reasonably necessary to Tenant's use and quiet enjoyment of the Premises to substantially the same condition as immediately prior to such fire or other casualty, or (ii) to terminate this Lease by so notifying Tenant within sixty (60) days after the date of such damage, such termination to be effective upon as of the date of the fire or other casualty causing the damage. Notwithstanding the foregoing, if the Premises are so destroyed that they cannot or will not be repaired or rebuilt within one hundred eighty (180) days of the casualty date, Tenant shall have the option to terminate this Lease by so notifying Landlord within thirty (30) days after Tenant's discovery of such untentability, such termination to be effective as of the date of fire or other casualty causing the damage. The Rent required to be paid hereunder shall be abated in proportion to the portion of the Premises, if any, which is rendered untenantable by fire or other casualty hereunder from the date of the occurrence of such damagedamage or casualty until the repairs specified in clause (i) of the preceding sentence are completed. Other than such rental abatement, in which event the Rent no damages, compensation or claims shall be abated payable by Landlord for loss of the use of the whole or any part of the Premises, Tenant's personal property, or any inconvenience, loss of business, or annoyance arising from the date Tenant vacates the Building; or (2) electing to any such repair the Building, provided insurance proceeds are available to fully repair the damage (except that and reconstruction. Landlord shall not be required to rebuild, repair or replace any part of furniture, furnishings, or other personal property that Tenant may be entitled to remove from the alterations, partitions, fixtures, additions Premises or any alterations to the Premises constructed and other improvements which may have been placed in, on or about the Building installed by or for the benefit Tenant pursuant to Section 6.01 hereof or any installations in excess of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyStandard.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Samples: Lease Agreement (Eloyalty Corp)
Casualty. If 22.1 In the event the Premises or the Building should be (including the Parking Facility) are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereoffollowing the commencement of restoration, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If such repairs cannot, in Landlord’s reasonable estimation, be made within one hundred eighty (180) days following commencement of restoration, Landlord and Tenant shall each have the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed option of giving the other, at any time within thirty (30) daysdays after Landlord’s notice of estimated restoration time, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon this Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement which sufficient insurance proceeds to fully cover the repair and restoration are not received by Landlord, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should requires that any insurance proceeds be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Samples: Lease (Appgate, Inc.)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of 10/31/01 CALWEST TX MTIN REVISED 6/9/2009 1800 00xx Xxxxxx, Xxxxx 000 XX-0000000 x0 0000000-00000 -15- the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (i) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (ii) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
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Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If such repairs cannot, in Landlord’s reasonable estimation, be made within one hundred eighty (180) days, Landlord and Tenant shall each have the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed option of giving the other, at any time within thirty (30) daysdays after Landlord provides to Tenant the notice required in 22.1 above, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant within forty-five (45) days after such casualty of its election and Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofreasonably request.
Appears in 1 contract
Samples: Lease (Tripwire Inc)
Casualty. If the Building should Premises or Project, or any portion of either, shall be damaged by fire or destroyed other casualty covered by the insurance carried by Landlord hereunder, and the cost of repairing such damage shall not be greater than twenty percent (20%) of the then full replacement cost thereof, then, subject to the following provisions of this Article, Landlord shall repair the Premises and/or Project. If the Premises or Project shall be damaged (a) by fire or other casualty not covered by insurance carried by Landlord hereunder, (b) by fire or other casualty covered by insurance carried by Landlord hereunder and Landlord's mortgagee requires that such insurance proceeds be used to retire the mortgage debt, or (c) to an extent greater than twenty percent (20%) of the then full replacement cost thereof, then Landlord shall have the option to either (i) repair or reconstruct the same to substantially the same condition as immediately prior to such fire or other casualty, or (ii) terminate this Lease by so notifying Tenant within sixty (60) days after the date of such fire or other casualty, such termination to be effective as of the date of such notice. In the event Landlord shall elect to repair or reconstruct in accordance with subclause (i) of this Section, Landlord shall so notify Tenant in writing within sixty (60) days after the date of such casualty. In the event Landlord shall be obligated to repair or reconstruct or shall have elected to repair or reconstruct, then such repair or reconstruction shall be completed by Landlord within one hundred eighty (180) days after the casualty if the damage was not greater that thirty percent (30%) and two hundred forty (240) days after the casualty if the damage was greater than fifty percent (50%) (subject to Tenant Delays and delays caused by force majeure). In the event Landlord fails to complete any repair or reconstruction within the foregoing time periods, Tenant shall give immediate have the option to terminate this Lease by so notifying Landlord with such termination to be effective as of Tenant's notice. Furthermore, notwithstanding anything to the contrary contained herein, if the Premises or the Project should be so damaged by fire or other casualty such that the damage cannot, in Landlord's reasonable opinion, be repaired within two hundred forty (240) days after such casualty, then Landlord shall notify Tenant of same (the "Major Damage Notice" ) whereupon either Landlord or Tenant may terminate this Lease by delivering written notice to Landlord. Within the other party within thirty (30) days after receipt thereofof the Major Damage Notice. The Rent required to be paid hereunder shall be abated in proportion to the portions of the Premises, if any, which are rendered untenantable by fire or other casualty hereunder until repairs of the Premises are completed, or if the Premises are not repaired, until the termination date hereunder. Other than such Rent abatement, no damages, compensation or claim shall be payable by Landlord shall notify Tenant whether for loss of the use of the whole or any part of the Premises, Tenant's personal property, or any inconvenience, loss of business, or annoyance arising from any such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; repair and reconstruction unless caused by the gross negligence or (3) in more than ninety (90) days from the date willful misconduct of such notice.
11.1.1. Less Than 30 DaysLandlord. If the Building should damage results from default or negligence of Tenant, its agents, employees, licensees or invitees, then Tenant shall not be damaged only entitled to such extent that rebuilding any abatement or repairs can be reasonably completed within thirty (30) days, reduction of any Rent or other sums due hereunder. If this Lease is terminated as provided in (c)(ii) above, all Rent shall not terminate and, provided that insurance proceeds are available be apportioned and paid up to fully repair the damage, Landlord shall repair the Building, except that termination date. Landlord shall not be required to rebuild, repair or replace any alterationsfurniture, partitions, fixtures, additions furnishings or other personal property which Tenant may be entitled to remove from the Premises or any property constructed and other improvements which may have been placed in, on or about the Building installed by or for Tenant in the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancyPremises.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Casualty. If the Premises or the Project is damaged or destroyed, in whole or in part, by fire or other casualty at any time during the Term and if, after such damage or destruction, Tenant is not able to use the portion of the Premises not damaged or destroyed to substantially the same extent and for the Authorized Use for which the Premises were leased to Tenant hereunder, and within sixty (60) days after Landlord’s receipt of written notice from Tenant describing such damage or destruction Landlord provides notice to Tenant that the Premises, as improved to the extent of the Building should Standard improvements existing immediately prior to such destruction or casualty, cannot be repaired or rebuilt to the condition which existed immediately prior to such destruction or casualty within two hundred seventy (270) days following the date of such destruction or casualty, then Landlord may by written notice to Tenant within thirty (30) days following such notice by Landlord terminate this Lease. Unless such damage or destruction is the result of the negligence or willful misconduct of Tenant or its employees, agents, contractors or invitees, the Rent shall be abated for the period and proportionately to the extent that after such damage or destruction Tenant is not able to use the portion of the Premises damaged or destroyed for the Authorized Use and to substantially the same extent as Tenant used the Premises prior thereto. If this Lease is not terminated pursuant to the foregoing, then upon receiving the available insurance proceeds, Landlord shall restore or replace the damaged or destroyed portions of the Premises, as improved to the extent of the Building Standard improvements existing immediately prior to such destruction or casualty, or Project; Tenant shall restore or replace the improvements to the Premises required to be insured by Tenant hereunder; and this Lease shall continue in full force and effect in accordance with the terms hereof except for the abatement of Rent referenced to above, if applicable, and except that the Term shall be extended by a length of time equal to the period beginning on the date of such damage or destruction and ending upon completion of such restoration or replacement. Landlord shall restore or replace the damaged or destroyed portions of the Premises or Project that Landlord is required to restore or replace hereunder within a reasonable time, subject to Force Majeure Events, Tenant Delays, and the availability of insurance proceeds and governmental approvals. If Landlord elects to terminate this Lease as provided in this Section, this Lease shall terminate on the date which is thirty (30) days following the date of the notice of termination as if the Term hereof had been scheduled to expire on such date, and, except for obligations which are expressly stated herein to survive the expiration or earlier termination of this Lease, neither party shall have any liability to the other party as a result of such termination. Landlord shall not be obligated to repair any damage to Above Standard improvements or fixtures, Tenant’s inventory, trade fixtures or other personal property. If the Premises or any portion of the Project are damaged or destroyed by fire or other casualtycasualty caused by the recklessness or willful misconduct of Tenant, Tenant its employees, agents, contractors, or invitees, then any repair or restoration of the Premises by Landlord pursuant to the terms of this Section shall give immediate written notice be at Tenant’s sole cost and expense. Notwithstanding anything in this Section to Landlord. Within thirty (30) days after receipt thereofthe contrary, Landlord shall notify Tenant whether such repairs can reasonably be made: have no obligation to repair or restore the Premises or the Project on account of damage resulting from any casualty which occurs during the last twelve (112) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; months of the Term, or (3) in more than ninety (90) days from if the date estimated cost of such notice.
11.1.1. Less Than 30 Days. If repair or restoration would exceed fifty percent (50%) of the reasonable value of the Building should be damaged only prior to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysthe casualty. The abatement of Rent, if applicable hereunder, and termination of this Lease shall not terminate andby Tenant, provided that insurance proceeds if applicable hereunder, are the sole remedies available to fully repair Tenant in the damageevent the Premises or the Project is damaged or destroyed, Landlord shall repair the Buildingin whole or in part, except that Landlord shall not be required to rebuild, repair by fire or replace any alterations, partitions, fixtures, additions other casualty. In addition and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only notwithstanding anything to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed contrary in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofthis
Appears in 1 contract
Casualty. If In the event of total or partial destruction of the Building should be damaged or destroyed the Leased Premises by fire or other casualty and upon receipt of the insurance proceeds with respect to the casualty, Landlord agrees to promptly restore and repair the Leased Premises; provided, however, Landlord's obligation hereunder shall be limited to the reconstruction of such of the tenant finish improvements as were originally required to be made by Landlord, if any. Tenant agrees to also pay Landlord any deductible amount elected to be maintained by Tenant. Rent shall give immediate written notice to Landlordproportionately xxxxx during the time that the Leased Premises or part thereof are unusable because of any such damage. Within thirty Notwithstanding the foregoing, if the Leased Premises are (30i) so destroyed that they cannot be repaired or rebuilt within one hundred eighty (180) days after receipt thereoffrom the casualty date; or (ii) destroyed by a casualty which is not covered by the insurance required hereunder or, if covered, such insurance proceeds are not released by any mortgagee entitled thereto or are insufficient to rebuild the Building and the Leased Premises; then, in case of a clause (i) casualty, either Landlord shall notify or Tenant whether such repairs can reasonably be made: may, or, in the case of a clause (1ii) within casualty, then Landlord may, upon thirty (30) days; ' written notice to the other party, terminate this Lease with respect to matters thereafter accruing. Tenant waives any right under applicable laws inconsistent with the terms of this paragraph and in the event of a destruction agrees to accept any offer by Landlord to provide Tenant with comparable space within the project in which the Leased Premises are located on the same terms as this Lease. Notwithstanding the provisions of this paragraph, if any such damage or destruction occurs within the final two (2) years of the term hereof, then Landlord, in more than thirty its sole discretion, may, without regard to the aforesaid one hundred eighty (30180) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysday period, terminate this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Buildingto Tenant. In the event that neither party elects of such termination, Tenant's obligation to terminate this Lease, Landlord pay Minimum Annual Rent and Additional Rent shall promptly commence and diligently prosecute to completion cease as of the repairs to date of the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofcasualty.
Appears in 1 contract
Samples: Industrial Lease Agreement (United Stationers Supply Co)
Casualty. If the Premises or the Project is damaged or destroyed, in whole or in part, by fire or other casualty at any time during the Term and if, after such damage or destruction, Tenant is not able to use the portion of the Premises not damaged or destroyed to substantially the same extent and for the Authorized Use for which the Premises were leased to Tenant hereunder, and within sixty (60) days after Landlord’s receipt of written notice from Tenant describing such damage or destruction Landlord provides notice to Tenant that the Premises, as improved to the extent of the Building should Standard improvements existing immediately prior to such destruction or casualty, cannot be repaired or rebuilt to the condition which existed immediately prior to such destruction or casualty within two hundred seventy (270) days following the date of such destruction or casualty, then either Landlord or Tenant may by written notice to the other within thirty (30) days following such notice by Landlord terminate this Lease. Unless such damage or destruction is the result of the negligence or willful misconduct of Tenant or its employees, agents, contractors or invitees, the Rent shall be abated for the period and proportionately to the extent that after such damage or destruction Tenant is not able to use the portion of the Premises damaged or destroyed for the Authorized Use and to substantially the same extent as Tenant used the Premises prior thereto. If this Lease is not terminated pursuant to the foregoing, then upon receiving the available insurance proceeds, Landlord shall restore or replace the damaged or destroyed portions of the Premises, as improved to the extent of the Building Standard improvements existing immediately prior to such destruction or casualty, or Project; Tenant shall restore or replace the improvements to the Premises required to be insured by Tenant hereunder; and this Lease shall continue in full force and effect in accordance with the terms hereof except for the abatement of Rent referred to above, if applicable, and except that the Term shall be extended by a length of time equal to the period beginning on the date of such damage or destruction and ending upon completion of such restoration or replacement. Landlord shall restore or replace the damaged or destroyed portions of the Premises or Project that Landlord is required to restore or replace hereunder within a reasonable time, subject to Force Majeure Events and the availability of insurance proceeds. If either party elects to terminate this Lease as provided in this Section, this Lease shall terminate on the date which is thirty (30) days following the date of the notice of termination as if the Term hereof had been scheduled to expire on such San Fxxxxx Plaza/Summer Energy Holdings, Inc. DocuSign Envelope ID: A1357CC3-ED4D-47DF-A5FB-22FC3BC9DEAD date, and, except for obligations which are expressly stated herein to survive the expiration or earlier termination of this Lease, neither party shall have any liability to the other party as a result of such termination. Landlord shall not be obligated to repair any damage to Above Standard improvements or fixtures, Tenant’s inventory, trade fixtures or other personal property. If the Premises are damaged or destroyed by fire or other casualtycasualty caused by the negligence or willful misconduct of Tenant, Tenant its employees, agents, contractors, or invitees, then any repair or restoration of the Premises by Landlord pursuant to the terms of this Section shall give immediate written notice be at Tenant’s sole cost and expense, subject to LandlordSection 22 above. Within thirty (30) days after receipt thereofNotwithstanding anything in this Section to the contrary, Landlord shall notify Tenant whether such repairs can reasonably be made: have no obligation to repair or restore the Premises or the Project on account of damage resulting from any casualty which occurs during the last twelve (112) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; months of the Term, or (3) in more than ninety (90) days from if the date estimated cost of such notice.
11.1.1. Less Than 30 Days. If repair or restoration would exceed fifty percent (50%) of the reasonable value of the Building should be damaged only prior to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysthe casualty. The abatement of Rent, if applicable hereunder, and termination of this Lease shall not terminate andby Tenant, provided that insurance proceeds if applicable hereunder, are the sole remedies available to fully repair Tenant in the damage, Landlord shall repair event the Building, except that Landlord shall not be required to rebuild, repair Premises or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on the Project is damaged or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damagedestroyed, in which event the Rent shall be abated from the date Tenant vacates the Building; whole or (2) electing to repair the Buildingin part, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair by fire or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancycasualty.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Samples: Commercial Lease Agreement (Summer Energy Holdings Inc)
Casualty. If In the event the Leased Premises or any material portion of the Building should be are damaged or destroyed by fire or other casualtycasualty which would be covered by the casualty insurance carried or required to be carried by Landlord under the provisions of this Lease, Landlord shall, within seven (7) days following such damage, cause an architect to provide an estimate of the number of days required to repair the damage. The architect shall provide its estimate to Landlord and Tenant shall give immediate within twenty (20) days following the damage. If the damage cannot be repaired within one hundred eighty (180) days, this Lease may be terminated by either Landlord or Tenant by written notice to Landlord. Within within thirty (30) days after receipt thereofof the architect’s damage certification and shall then terminate as of the date of the casualty damage. In the event this Lease is so terminated, Tenant shall pay all Rent due under this Lease, prorated to the date of such damage, and all other sums owing at that time and shall surrender possession of the Leased Premises to Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more no later than ninety (90) days from the date of such notice.
11.1.1Tenant’s notice of termination. Less Than 30 Days. If However, if the Building should be damaged only to such extent that rebuilding or repairs damage can be reasonably completed repaired within one hundred eighty (180) days or if it cannot be repaired within such time but neither party exercises its option to terminate this Lease, Landlord shall, within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the days of such damage, Landlord proceed with reasonable diligence to restore the Leased Premises and/or the Building to the same condition as existed immediately prior to the occurrence of such casualty. The Rent shall repair be abated during the Building, except that time and to the extent the Leased Premises are unfit for occupancy. Landlord shall not be required to rebuild, repair or replace any alterationsof the furniture or equipment, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building Leased Premises by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects the insurance proceeds from policies carried or required to be carried by Landlord under the provisions of this Lease would be inadequate to rebuild the Building or if any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that the insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this Lease shall terminate at Landlord’s election not to rebuild, upon written notice to Tenant, effective as of the date of the casualty damage. Notwithstanding the foregoing provisions of this Section 27, Tenant agrees that if the Leased Premises or any other part of the building is damaged by fire or other casualty caused by the fault or negligence of Tenant or Tenant’s agents, employees or invitees, Tenant shall have no option to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair even if the damage cannot be repaired within one hundred eighty (except that Landlord 180) days, and the rent shall not be required abated or reduced before or during the repair period except to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or extent that Landlord is covered for such rental loss under the benefit ofLandlord’s rental abatement insurance.
Appears in 1 contract
Casualty. (a) If prior to the Building should be Closing, any Property is damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty casualty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in the “Damaged Property,” and if more than thirty (30) days one Property is so damaged or destroyed, collectively, the “Damaged Properties”), Sellers’ Representative shall promptly, but in less than ninety any event within five (905) days; or Business Days, notify Purchaser of the same (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days“Casualty Notice”). If the Building should be damaged only cost of restoring the damage to such extent that rebuilding or repairs can be reasonably completed within thirty any Damaged Property is less than One Million Dollars (30$1,000,000.00) daysand if the cost of restoring the damage to all Damaged Properties is less than Four Million Dollars ($4,000,000.00), this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder Purchaser shall be abated proportionately from obligated to purchase the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon Interests notwithstanding the occurrence of such damagethe damage or destruction and upon the Closing, Purchaser shall receive a credit against the Purchase Price in which event the Rent shall be abated from the date Tenant vacates the Building; or amount (2net of collection costs and costs of repair reasonably incurred by Sellers and not then reimbursed) electing to repair the Building, provided of any insurance proceeds are available collected and retained by Sellers or any Acquired Company as a result of any such damage or destruction plus (in the case of damage) the amount of the deductible portion of the applicable Person’s insurance policy and Sellers shall cause the applicable Person to fully repair assign to Purchaser all rights to such insurance proceeds as shall not have been collected prior to the Closing.
(b) If the cost of restoring the damage to any Damaged Property is One Million Dollars (except that Landlord shall not be required $1,000,000.00) or more, or if the cost of restoring the damage to rebuildall Damaged Properties is Four Million Dollars ($4,000,000.00) or more, repair or replace any part Purchaser may elect within five (5) Business Days of its receipt of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on Casualty Notice (or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after Business Days if Purchaser has exercised the First Extension Option) together with the documented estimated costs of restoring the damage, and the Closing Date shall, if necessary, be extended to give Purchaser the benefit of the entire five (5) Business Day period (or ten (10) Business Day period if Purchaser has exercised the First Extension Option), either (x) to terminate this Agreement by notifying Sellers in writing whereupon, provided Purchaser has not exercised the Second Extension Option, Purchaser shall be entitled to a return of the Deposit, less, if Purchaser has exercised the First Extension Option, the First Extension Payment, and thereafter Sellers and Purchaser shall have no further obligations or liabilities hereunder except for those obligations or liabilities which expressly survive the termination of this Agreement, or (y) to consummate the transactions contemplated hereby, notwithstanding the occurrence of the damage or destruction and upon the Closing, Purchaser shall receive a credit against the Purchase Price in the amount (net of collection costs and costs of repair reasonably incurred by the Sellers and not then reimbursed) of any insurance proceeds collected and retained by Sellers or any Acquired Company as a result of any such damage or destruction plus (in the case of damage) the amount of the deductible portion of the applicable Person’s insurance policy and Sellers shall cause the applicable Person to assign to Purchaser all rights to such insurance proceeds as shall not have been collected prior to the Closing. Failure of Purchaser to give such notice from Landlord regarding within the time period of repair; and this Lease and the Rent prescribed above shall be abated from deemed an election by Purchaser to proceed in accordance with clause (x) above.
(c) The risk of loss to each Property shall remain with the date Tenant vacates applicable Seller and/or Acquired Company until the Building. Closing.
(d) In the event that neither party elects of a disagreement between Sellers’ Representative and Purchaser as to terminate whether a casualty satisfies a threshold set forth in this LeaseSection 2.6, Landlord shall promptly commence and diligently prosecute to completion the repairs determination of the independent insurance adjuster pursuant to the Building , provided applicable Person’s casualty insurance proceeds are available to fully repair policy covering the damage (except that Landlord Damaged Property shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofbinding.
Appears in 1 contract
Samples: Interest Purchase and Sale Agreement (Legacy Healthcare Properties Trust Inc.)
Casualty. In the event the leased Premises or the Building is destroyed or injured by fire, earthquake or other casualty to the extent that they are no longer satisfactory for the conduct of Tenant's business, in whole or in part, then Xxxxxxxx will engage a registered architect to certify within sixty (60) days after such destruction or injury to Landlord and Tenant the amount of time needed to restore the Building and the Premises to substantially the same condition as existed immediately prior to the casualty. If the time needed to so restore the Building should be damaged or destroyed by fire or other and Premises exceeds twelve (12) months from the date of the casualty, then either the Landlord or Tenant shall give immediate written may terminate this Lease by giving the other party such notice to Landlord. Within of termination within thirty (30) days after the notifying party's receipt thereofof the architect's certificate. If a casualty causes damages to the Building and this Lease is not terminated by either party under the provisions of this section, then Landlord shall diligently rebuild and restore the Building and the Premises. Upon a casualty event, the rent shall be abated equitably on a per diem basis for the portion of the Premises that is unfit for occupancy commencing upon the date of the casualty and ending on the completion of the repair and restoration so as to permit Xxxxxx's full and regular occupancy thereof or the earlier termination of this Lease. During any period of abatement of rent due to casualty or destruction of the Premises, unless this Lease has been terminated, Landlord shall notify use its best efforts to locate comparable space for Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from at the date of such notice.
11.1.1fair market rate not to exceed Xxxxxx's rental rate hereunder. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required liable for any consequential damages by reason of inability, after use of its best efforts, to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only locate alternative space comparable to the extent rental abatement insurance proceeds are received by Landlord and Premises. Notwithstanding anything to the Building are unfit for occupancy.
11.1.2contrary in this -14- <PAGE> Section 17(a). Greater Than 30 Days. If if the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed casualty occurs in more than thirty the last eighteen (3018) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part months of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about then current term of the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) daysLease, either Landlord or Tenant may terminate by giving written notice within ten this Lease upon thirty (1030) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofwritten notice.
Appears in 1 contract
Samples: Office Lease Agreement
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty 's reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord's reasonable estimation of the length of time with in which material restoration can be made, and Landlord's determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant's use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord's reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days. Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date oh such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations. partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 in the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option an as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term: provided, however. that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) day's after receipt of Landlord's notice: and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises of Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant's responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence request.
22.7 Tenant hereby waives any and diligently prosecute to completion all rights under and benefits of Sections 1932(2) and 1933(4) of the repairs to the Building California Civil Code, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and similar or successor Regulations or other improvements which may have been placed in, on laws now or about the Building by or for the benefit ofhereinafter in effect.
Appears in 1 contract
Samples: Lease (Franklin Wireless Corp)
Casualty. a) If the Building should be Premises are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty (30) days after receipt thereof, promptly notify Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, and Landlord shall repair the Buildingdamaged portions of the Premises, except that Landlord shall not be required to rebuildincluding, repair or replace any alterationswithout limitation, partitionsthe Base Building and Site Work and the Tenant Work, but excluding Tenant's furniture, fixtures, additions equipment and other property therein and any improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only alterations made to the extent rental abatement Premises by Tenant after the Commencement Date (other than the completion of the Tenant Work), provided that if, in Landlord's reasonable judgment, the damage would require more than 270 days of work to repair, or if the insurance proceeds are received by (excluding rent insurance) which Landlord and anticipates receiving (if such amount is in excess of $500,000) must be applied to repay any mortgages encumbering the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysBuilding, then Landlord shall have the option of:
(1) terminating the Lease effective upon so notify Tenant in writing within 60 days following the occurrence of such damagethe fire or other casualty, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) daysevent, either Landlord or Tenant may terminate this Lease by giving so notifying the other party, which notice shall specify a termination date not less than 30 days after its transmission. If Landlord is so required to repair, the work shall be commenced promptly and completed with due diligence, taking into account the time required for Landlord to procure said insurance proceeds, and construction delays due to shortages of labor or material or other causes beyond Landlord's reasonable control, provided, however, in the event Landlord fails to complete such restoration within such 270 day period for any reason (including those beyond Landlord's reasonable control), Tenant may terminate this Lease upon fifteen (15) days prior written notice within ten (10to Landlord given before the restoration is substantially completed and provided Landlord does not complete such restoration during such period.
b) days after notice from Landlord regarding During the time period of repair; and this Lease and the Rent when Tenant shall be abated from deprived of possession of the date Tenant vacates Premises by reason of such damage, Tenant's obligation to pay Base Rent under Section 5 and Operating Expenses under Section 6 shall xxxxx in the Building. In proportion which the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion damaged area of the repairs Premises bears to the Building , entire Premises until such time as Landlord substantially competes the restoration of the Premises as provided insurance proceeds are available above and Tenant is legally permitted to fully repair use and occupy the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofPremises.
Appears in 1 contract
Samples: Lease Agreement (Viropharma Inc)
Casualty. If the Building should be damaged or is totally destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty casualty or if the Premises or Building is so damaged that rebuilding or repairs cannot be completed within one hundred eighty (30180) days after receipt thereofthe date of such damage, Landlord or Tenant may at its option terminate this Lease, in which event the Rent shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days abated during the unexpired portion of this Lease effective from the date of such notice.
11.1.1. Less Than 30 Daysdamage. If the Building should be or the Premises are damaged by fire, tornado or other casualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be reasonably completed within thirty one hundred eighty (30180) daysdays after the date of such damage, or if the damage should be more serious but neither Landlord nor Tenant elects to terminate this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damageLease, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than within ninety (90) days, then Landlord shall have days after the option of:
(1) terminating the Lease effective upon the occurrence date of such damage, damage commence to rebuild or repair the Building and/or Premises and proceed with reasonable diligence to restore the Building and/or Premises to not less than substantially the same condition in which event it was immediately prior to the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Buildingcasualty, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterationsfurniture, partitionsequipment, fixtures, additions fixtures and other improvements which may have been placed in, on or about by Tenant in the Building by or for the benefit of Tenant)Premises. The Rent payable hereunder There shall be abated proportionately from a fair diminution of Rent during the date Tenant vacates time the Building only to the extent rental abatement insurance proceeds Premises are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days, which shall be based on a good faith determination of the degree of the impairment to Tenant's use and enjoyment of the Premises. If any mortgagee under a deed to secure debt, security agreement or mortgage requires the Building should insurance proceeds be so damaged applied against the mortgage debt, Landlord shall have no obligation to rebuild and this Lease shall terminate upon notice to Tenant; however, Landlord shall notify Tenant within thirty (30) days after any such mortgagee gives a notice to Landlord of such election to apply such proceeds against the mortgage debt, of the fact that rebuilding or repairs cannot such mortgagee has done so. Except as hereinafter provided, any insurance which may be completed within ninety (90) days, either carried by Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs against loss or damage to the Building , provided insurance proceeds are available or to fully repair the damage (except that Landlord Premises shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the sole benefit ofof the party carrying such insurance and under its sole control.
Appears in 1 contract
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance, which may have been placed inbe carried, on by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefore as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Samples: Lease Agreement (Intrusion Inc)
Casualty. If 22.1. In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, or Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days22.2. If such repairs cannot, in Landlord’s reasonable estimation, be made within one hundred eighty (180) clays, Landlord and Tenant shall each have the Building should be damaged only to option of giving the other, at any time within ninety (90) days after such extent that rebuilding damage, notice terminating this Lease as of the date or repairs can be reasonably completed within thirty (30) dayssuch damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3. Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of Tenantthe party carrying such insurance and under its sole control.
22.4. The Rent payable hereunder In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within !liken (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5. Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (h) in the event the holder or any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
right to terminate this Lease by delivering written notice of termination to Tenant within fifteen (115) terminating clays after such requirement is made by any such holder, whereupon this Lease shall end on the Lease effective upon the occurrence date of such damage, in which event the Rent shall be abated from damage as if the date Tenant vacates of such damage were the Building; or (2) electing to repair date originally fixed in this Lease for the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part expiration of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyTerm.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building22.6. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, provided insurance proceeds are available it shall be Tenant’s responsibility to fully repair properly secure the damage (except that Premises and upon notice from Landlord to remove forthwith, at its sole cost and expense, such portion of all of the ‘property belonging to Tenant or its licensees from such portion or all of the Building or Premises as Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualtycause and in Landlord’s reasonable estimation such damage can be materially restored within one hundred fifty (150) days, Landlord shall forthwith repair the same and this Lease shall remain in full force and effect. In the event of any damage, Tenant shall give immediate written notice be entitled to Landlorda proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within thirty (30) days after receipt thereoffrom the date of such damage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage. In the event of a casualty, if requested by Tenant, Landlord agrees to use commercially reasonable efforts without any financial obligation or expense to Landlord to assist Tenant whether in its attempt at locating a temporary space for use until restoration is completed.
22.2 If such repairs can reasonably cannot, in Landlord’s reasonable estimation, be made: made within one hundred fifty (1) within thirty (30150) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than , Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days from after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on or about the Building be carried by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding against loss or damage to the time period of repair; and this Lease and the Rent Building or Premises shall be abated from for the date Tenant vacates sole benefit of the Building. party carrying such insurance and under its sole control.
22.4 In the event that neither party elects Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this LeaseLease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds be applied to such indebtedness, Landlord then Landlord, in the event of a substantial casualty, shall promptly commence and diligently prosecute have the right to completion terminate this Lease by delivering written notice of termination to Tenant within fifteen (15) days after such requirement is made by any such holder, whereupon this Lease shall end on the repairs date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, provided insurance proceeds are available it shall be Tenant’s responsibility to fully repair properly secure the damage (except that Premises and upon notice from Landlord to remove forthwith, at its sole cost and expense, such portion of all of the property belonging to Tenant or its licensees from such portion or all of the Building or Premises as Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofreasonably request.
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Casualty. If the Premises or the Building should be are damaged or destroyed by fire or -------- other casualty, Tenant Landlord shall give immediate written notice to Landlordforthwith repair the same unless this Lease is terminated as permitted herein. Within thirty twenty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9020) days from the date of such notice.
11.1.1. Less Than 30 Daysdamage, Landlord shall notify Tenant if the Building is damaged in excess of twenty-five percent (25%) of the Building's precasualty value, as reasonably determined by Landlord (damage in excess of such amount being referred to as "Major Damage" and damage equal to or less than such amount being referred to as "Minor Damage"). If Major Damage occurs, Landlord may elect to terminate the Lease. If Minor Damage occurs then Landlord shall repair such damage and rebuild that portion of the Building should be damaged only or the Premises damaged. In the event of Major Damage, if Landlord gives its written notice to such extent that rebuilding Tenant electing to rebuild or repairs can be reasonably completed within thirty (30) daysin the event of Minor Damage, this Lease shall remain in full force and effect provided the repairs are completed within one hundred twenty (120) days except the Rent shall be reasonably abated during the period of repair based on that portion of the Premises not terminate and, provided that insurance proceeds are available to fully repair reasonably usable by Tenant. If in the damageevent of Major Damage, Landlord elects by written notice to Tenant not to rebuild, then this Lease shall repair automatically terminate as of the Buildingeffective date of such notice, except that the Rent shall be reduced by a proportionate amount based upon the extent to which said damage interfered with the business carried on by Tenant in the Premises, and the Tenant shall pay such reduced Rent up to the date of termination. Landlord agrees to refund to Tenant any Rent previously paid for any period of time subsequent to such date of termination. Landlord shall not be required to rebuildrepair any damage by fire or other cause to the property of Tenant and any paneling, repair decorations, railings, floor coverings, or replace any alterations, partitionsadditions, fixtures, additions and other fixtures or improvements which may have been placed in, installed on or about the Building Premises by or for at the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part expense of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
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Casualty. If In the Building should be damaged event of total or destroyed partial destruction of the Building, the Leased Premises, or the Common Areas by fire or other casualty, Tenant Landlord agrees promptly to restore and repair same; provided, however, Landlord’s obligation hereunder with respect to the Leased Premises shall give immediate written notice to Landlordnot include Tenant’s Property. Within thirty Rent shall proportionately xxxxx during the time that the Leased Premises or part thereof are unusable because of any such damage. Notwithstanding the foregoing, if the Landlord determines that Building or the Leased Premises are (30a) so destroyed that they cannot be repaired or rebuilt within one hundred eighty (180) days after receipt thereoffrom the casualty date (or, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date casualty date, if the damage or destruction occurs during the final twelve (12) months of the Lease Term); or (b) destroyed by a casualty that is not covered by the insurance required hereunder or, if covered, such insurance proceeds are not released by any mortgagee entitled thereto or are insufficient to rebuild the Building and the Leased Premises, then Landlord shall give written notice to Tenant of such notice.
11.1.1determination (the “Casualty Notice”) within sixty (60) days of such casualty. Less Than 30 Days. If Either Landlord or Tenant may terminate this Lease by giving written notice (the Building should be damaged only “Termination Notice”) to such extent that rebuilding or repairs can be reasonably completed the other party within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of days after Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part ’s receipt of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the BuildingCasualty Notice. In the event this Lease is terminated pursuant to the preceding sentence, such termination shall be effective as of the forty-fifth (45th) day following a party’s delivery of the Termination Notice. During any time period of construction following a casualty, Landlord shall use reasonable efforts to provide Tenant with temporary space from which to operate at a rental rate to be agreed upon at that neither party elects time. If the Lease is not terminated pursuant to the provisions above and Landlord fails to substantially complete the restoration and repair of the Leased Premises within three hundred sixty-five (365) days after the date of the casualty (as such period may be extended due to force majeure, as defined in Section 16.03 below, and any delay caused by Tenant’s acts or omissions), then Tenant shall have the right to terminate this LeaseLease upon written notice to Landlord, so long as Tenant’s written notice is received by Landlord shall promptly commence prior to Landlord’s substantial completion of such restoration and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrepair.
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Casualty. If 22.1 In the event the Building should be or the Premises are damaged or destroyed by fire or other casualtycause, to the extent Tenant receives insurance proceeds related thereto, Tenant shall give immediate forthwith repair the same to the condition existing prior to such casualty and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate abatement in monthly installments of Annual Rent from the date of such damage. Such abatement of monthly installments of Annual Rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs shall interfere with the use and occupancy by Tenant of the Building and/or Premises from time to time.
22.2 If such repairs cannot, in Tenant’s reasonable estimation, be made within one hundred eighty (180) days, Tenant shall have the option of giving Landlord, at any time within sixty (60) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall expire and all interest of the Tenant in the Premises, all rights of the Tenant under this Lease (including Tenant’s right to collect future not yet accrued Tenant Allowances under Article 4 and Tenant’s right to exercise its Right of First Refusal under Article 45), and all obligations of the Tenant under this Lease (including, without limitation, the obligation to pay Rent and all other charges due hereunder) shall terminate as of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term and Tenant shall turn over to (or assign to) Landlord the insurance proceeds which Tenant receives as a result of such damage. In the event that Tenant does not exercise its option to terminate this Lease, then Tenant shall promptly repair or restore such damage to the Building and/or Premises, this Lease continuing in full force and effect, and the Annual Rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Except with respect to items insured by or required to be insured by Landlord pursuant to Article 11 of this Lease, Landlord shall not be required to repair or replace any damage or loss by or from fire or other cause to any of the Building and/or Premises and/or Tenant’s Property. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Building and/or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 Notwithstanding anything to the contrary contained in this Article, if material damage to the Building and/or Premises shall occur during the last twenty-four (24) months of the Term, Tenant may terminate this Lease by written notice to Landlord. Within Landlord given within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysdamage, whereupon this Lease shall not terminate and, provided that insurance proceeds are available to fully repair end on the damage, Landlord shall repair date of such damage as if the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about date of such damage were the Building by or date originally fixed in this Lease for the benefit expiration of Tenantthe Term. The Rent payable hereunder As used in this Section 22.4, the term “material damage” shall be abated proportionately from mean and refer to damage to twenty percent (20%) or more of the date Premises such that Tenant vacates cannot reasonably conduct business in such portion of the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 DaysPremises. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord Tenant shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects elect to terminate this Lease, Tenant shall turn over to (or assign to) Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofTenant receives as a result of such damage.
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Casualty. Section 11.01. If the Building should be is damaged or destroyed by fire fire, explosion, the elements or other casualtyotherwise during the Term so as to render the Demised Building wholly untenantable or unfit for Tenant’s use, Tenant shall give immediate written or should the Demised Building be so badly injured that the same cannot be repaired within one hundred and eighty (180) days from the happening of such injury, then, and in such case, the Term hereby created shall, at the option of either Landlord or Tenant, terminate upon the giving of a notice of termination, such notice to Landlord. Within be given within thirty (30) days after receipt thereofof such damage or destruction. Notwithstanding anything in the preceding sentence to the contrary, in the event that the Building is damaged or destroyed by fire, explosion, the elements or otherwise as a result of the negligence or willful misconduct of Tenant or its agents, employees or invitees, Tenant shall not be entitled to terminate the Lease. If a notice of termination is given, the Term of this Lease shall terminate effective as of the date of such damage or destruction, and Tenant shall immediately surrender the Demised Building and all Tenant’s interest therein to Landlord, and pay Basic Rent and Additional Rent only to the time of such damage or destruction, and Landlord may re-enter and repossess the Demised Building discharged from this Lease and may remove all parties therefrom. Landlord shall have no obligation to repair or restore Tenant’s improvements. If neither Landlord nor Tenant terminates the Lease, Landlord shall notify commence and diligently repair the same provided that the insurance proceeds so received are adequate to restore the Demised Building and Rent (Basic Rent and Additional Rent) shall xxxxx during any period during which Tenant whether such repairs can reasonably cannot use all or a part of the Demised Premises, in proportion to the interference with Tenant’s use thereof In no event shall Landlord shall have any obligation to repair or restore Tenant’s personal property or Tenant’s alterations or improvements to the Demised Premises.
Section 11.02. Should the Demised Building be made: rendered untenantable and unfit for occupancy, but yet be repairable within one hundred and eighty (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90180) days from the date happening of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) dayssaid injury, this Lease shall not terminate andLandlord will, provided that the insurance proceeds so received are available adequate to fully restore the Demised Premises, enter and commence and diligently repair the damagesame and Rent shall xxxxx during any period during which Tenant cannot use all or a part of the Demised Premises, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only in proportion to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2interference with Tenant’s use thereof. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then In no event shall Landlord shall have any obligation to repair or restore Tenant’s personal property or Tenant’s alterations or improvements to the option of:Demised Premises.
(1) terminating Section 11.03. Tenant shall immediately notify Landlord in case of fire or other damage to the Lease effective upon Demised Premises. Notwithstanding anything to the occurrence of such damagecontrary herein, in which the event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If damaged or destroyed by fire, water or explosion as a result of the Building should be so damaged that rebuilding gross negligence or repairs canwillful misconduct of Tenant, its agents, representatives, contractors or employees, Tenant shall not be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding have the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects right to terminate this Leasethe Lease as provided in Section 11.01, Landlord and such action shall promptly commence and diligently prosecute to completion constitute an event of default on the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofpart of Tenant.
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Samples: Lease Agreement (Pc Connection Inc)
Casualty. If In the event of total or partial destruction of the Building should be damaged or destroyed the Leased Premises by fire or other casualty, Landlord agrees promptly to restore and repair same; provided, however, Landlord’s obligation hereunder with respect to the Leased Premises shall be limited to the reconstruction of such of the leasehold improvements as were originally required to be made by Landlord pursuant to Section 2.02 above, if any. Rent shall proportionately xxxxx during the time that the Leased Premises or part thereof are unusable because of any such damage. Notwithstanding the foregoing, if the Leased Premises are (a) so destroyed that they cannot be repaired or rebuilt within two hundred ten (210) days from the casualty date; or (b) destroyed by a casualty that is not covered by the insurance required hereunder or, if covered, such insurance proceeds are not released by any mortgagee entitled thereto or are insufficient to rebuild the Building and the Leased Premises; then, in case of a clause (a) casualty, either Landlord or Tenant shall give immediate may, or, in the case of a clause (b) casualty, then Landlord may, upon thirty (30) days’ written notice to the other party, terminate this Lease with respect to matters thereafter accruing; provided, however, that if the casualty is not covered by insurance as a result of Landlord’s failure to maintain the insurance required herein or if Landlord failed to use commercially reasonable efforts to negotiate terms in a mortgage which would require a mortgagee to release insurance proceeds to Landlord for use in rebuilding, Landlord shall not have the right to terminate this Lease under clause (b). Within Tenant waives any right under applicable laws inconsistent with the terms of this paragraph. Landlord and Tenant shall reasonably determine within thirty (30) days after receipt thereof, Landlord shall notify Tenant of any such casualty event whether such repairs the Leased Premises can reasonably be made: restored within two hundred ten (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90210) days from the date of such noticecasualty date.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
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Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed. 10/31/01 CALWEST CA MTIN Revised 9/09/05 586764.v1: 028481/048 13
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence request.
22.7 Tenant hereby waives any and diligently prosecute to completion all rights under and benefits of Sections 1932(2) and 1933(4) of the repairs to the Building California Code of Civil Procedure, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and similar or successor Regulations or other improvements which may have been placed in, on laws now or about the Building by or for the benefit ofhereinafter in effect.
Appears in 1 contract
Samples: Lease Agreement (TherOx, Inc.)
Casualty. (a) If the Building should be damaged or destroyed damage caused by a fire or other casualty renders the Building untenantable in the commercially reasonable opinion of Tenant, the Base Rent and any additional rent required by virtue of Section 4 above will abate for the period during whixx xxe Building is untenantable, provided that Tenant has fully complied with the provisions of Section 15(b)(3) of this Agreement. If the damage caused by a fire or other casualty renders the Building partially untenantable in the reasonable opinion of Landlord, the Base Rent and any additional rent required by virtue of Section 4 above will partially abate for the period during whixx xxe affected portion of the Building is untenantable in proportion to the diminished utility of the Building in the conduct of Tenant's business, provided Tenant has fully complied with the provisions of Section 15(b)(3) of this Agreement. For purposes of this Section 17, a portion of the Building is untenantable when it is not reasonably usable for the conduct of Tenant s business. If Landlord restores a portion of the Building affected by the casualty damage to a tenantable condition and permits Tenant to resume possession of that restored portion while Landlord continues the restoration of other damaged portions of the Building, the parties will make a pro rata adjustment of the partial abatement of rent that occurs by virtue of the foregoing terms of this Section 17(a) to reflect Tenant's resumption of use of the restored portion. Landlord is entitled to receive all proceeds payable in respect of the time element insurance maintained in accordance with the terms of Section 15(a)(3) above.
(b) if a fire or other casualty renders the Premises untenantable, in whole or in part, and Landlord's estimated time for restoration of the Premises (exclusive of leasehold improvements Tenant makes) exceeds the period that will expire on the date that is one hundred fifty (150) days after the date Landlord receives actual knowledge of the occurrence of the fire or casualty, Tenant shall give immediate may terminate this Agreement by the delivery of written notice to LandlordLandlord within fifteen (15) days following the date on which Landlord notifies Tenant of the estimated time for the restoration. Within Landlord must provide that estimate within thirty (30) days following the date of the casualty. If a termination of this Agreement does not occur in accordance with the foregoing provisions of this Section 17(b), but Landlord fails to complete the restoration of the Premises, and such failure is not occasioned by any delay or hindrance by Tenant or its contractors, by the date that is thirty (30) days after receipt thereofthe date of the expiration of the period within which Landlord estimated the restoration would be completed, Tenant may terminate this Agreement by the delivery of written notice to Landlord at any time following the expiration of that 30- day period, but prior to the date on which Landlord substantially completes the restoration of the Premises. If a fire or other casualty occurring during the final two (2) years of either the Initial Term or any Renewal Term renders the Premises untenantable, in whole or in part, and for Landlord's estimated time for the restoration of the Premises (exclusive of leasehold improvements Tenant makes) exceeds the period that will expire on the date that is forty-five (45) days after the date Landlord receives actual knowledge of the occurrence of the fire or casualty and Tenant has not previously exercised its option to renew the Term for the ensuing Renewal Term in accordance with the terms of Section 5, Landlord shall notify may terminate this Agreement by delivering written notice to Tenant whether such repairs can reasonably be made: (1) at the time at which Landlord notifies Tenant of the estimated time for the restoration. If the casualty occurs on or before the last day on which Tenant may exercise its option to renew the Term, as provided in Section 5, Tenant may nullify Landlord's termination of this Agreement by exercising its option to renew the Term in accordance with the terms of Section 5 within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from after the date of such its receipt of Landlords termination notice. For purposes of nullifying Landlord's termination of this Agreement, Tenant may exercise its option to renew the Term within the time specified above even if the expiration of that 30-day period occurs after the date that is six (6) months in advance of the Expiration Date.
11.1.1(c) If a termination of this Agreement occurs in accordance with the terms of this Section 17, Landlord is entitled to receive all proceeds payable in respect of the insurance maintained in accordance with the terms of Section 15(a)(1) above to the extent not previously disbursed to Landlord in connection with the restoration of the Premises,
(d) If fire or other casualty damages the Premises and a termination of this Agreement does not occur, Landlord shall restore the Premises (inclusive of leasehold improvements Tenant makes) to substantially the condition that existed prior to the occurrence of the fire or other casualty and shall pursue the restoration with diligence and continuity. Less Than 30 DaysIn so doing, Landlord shall comply Legal Requirements. In performing its restoration obligation, Landlord must restore the Improvements so that they comply with laws and regulations applicable at the time of the restoration and not just the laws and regulations that were applicable at the time of original construction of the Improvements. Tenants contractors may have access to the Premises during the restoration for the purpose of concurrently repairing or replacing Tenant's leasehold improvements and trade fixtures that the fire or other casualty damaged and each party shall cause its contractors to cooperate with the other party's contractors in order to provide for the coordinated restoration of the Premises and Tenant's leasehold improvements and to minimize the time required for that coordinated restoration. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that aggregate amount of those insurance proceeds are available to fully repair exceed the damageaggregate amount of the costs Landlord reasonably incurs in connection with the restoration, Landlord shall repair is entitled to retain the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancyexcess.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Samples: Lease Agreement (TWL Corp)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty 's reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord's reasonable estimation of the length of time within which material restoration can be made, and Landlord's determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant's use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord's reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days. Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed inbe carried by Landlord or Tenant against loss or damage to the Project, on or about the Building by or the Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord's notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or the Premises by any peril covered by the provisions of this Article 22, it shall be Tenant's responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence request.
22.7 Tenant hereby waives any and diligently prosecute to completion all rights under and benefits of Sections 1932(2) and 1933(4) of the repairs to the Building California Civil Code, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and similar or successor regulations or other improvements which may have been placed in, on laws now or about the Building by or for the benefit ofhereinafter in effect.
Appears in 1 contract
Samples: Lease (Rockford Corp)
Casualty. (i) If the Building should be Completion of Construction occurs, but prior to the Closing Date, the Property is damaged by fire or destroyed other casualty which would cost less than an amount equal to Eighteen Million Six Hundred Fifteen Thousand Dollars ($18,615,000) (the “Casualty Threshold Amount”) to repair and would require less than one hundred eighty (180) days to repair, then, subject to the further terms and conditions of this sentence, neither party shall have the right to terminate its obligations under this Agreement by reason thereof and the Closing shall take place without abatement of the Purchase Price, provided that (x) Seller shall assign to Purchaser at the Closing all of Seller’s interest in any insurance proceeds (except use and occupancy insurance and business interruption insurance for the period preceding the Closing Date) on account of any such fire or other casualty, Tenant and (y) Seller shall give immediate written notice credit the amount of any deductibles under any policies related to Landlord. Within thirty such proceeds to the Purchase Price.
(30ii) If the Completion of Construction occurs, but prior to the Closing Date, the Property is damaged by fire or other casualty which (a) would cost equal to or more than the Casualty Threshold Amount to repair, or would require one hundred eighty (180) days after receipt thereofor more to repair, Landlord shall notify Tenant whether such repairs can reasonably be made: (1b) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than materially restricts access to the Property and would require ninety (90) days from or more to repair, (c) causes the date Property to be not in compliance with zoning, or (d) materially interferes with the operation or use of such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions Hotel and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than would require ninety (90) daysdays or more to repair, then Landlord Purchaser may terminate this Agreement by delivering notice to Seller within twenty (20) days after Seller has given Purchaser the notice of damage or casualty referred to in this Section 12.2 (and the Closing Date shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damagebe so extended as applicable), in which event case the Rent parties shall be abated from have no further obligations to each other hereunder except as specifically provided herein. Should Purchaser elect to proceed to Closing notwithstanding the date Tenant vacates amount of the Building; insured loss or the time required for repairs, the Closing shall take place without abatement of the Purchase Price and at Closing Seller shall assign (2pursuant to documentation reasonably satisfactory to Purchaser) electing to repair the BuildingPurchaser all of Seller’s right, provided title and interest in all such insurance proceeds are available and grant to fully repair Purchaser a credit against the damage (except that Landlord shall not be required Purchase Price equal to rebuild, repair or replace any part the amount of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyapplicable deductible.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Samples: Asset Purchase and Sale Agreement (Marriott International Inc /Md/)
Casualty. If a. In the Building should be event any portion of the Premises or any portion of the General Common Areas is damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to earthquake or flood or by any other cause of any kind or nature, and the damage can, in the opinion of the Landlord. Within thirty (30) days after receipt thereof’s architect, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) repaired within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) calendar days from the date of the casualty, then Landlord shall repair the damage. In the event the damage cannot, in more than the opinion of Landlord’s architect, be repaired within ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Daysthe casualty, but can be repaired within one hundred eighty (180) days from the date of the casualty, Landlord, at Landlord’s sole option, may elect either to terminate this Lease or to repair the damage. If in Landlord’s opinion of Landlord’s architect, the Building should damage cannot be damaged only repaired within one hundred eighty (180) days from the date of the casualty, then both Landlord and Tenant shall have the right to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, terminate this Lease. Tenant may terminate this Lease in the event (i) Tenant is unable to operate its business for a period of (a) one year, or (b) 90 days in the last two years of the term; or (ii) Landlord has not begun to rebuild within 180 days after the casualty. Notwithstanding anything to the contrary contained herein, Landlord shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Tenant’s lease unless Landlord shall repair also terminate the Building, except that Landlord shall not be required to rebuild, repair or replace leases of all other similarly affected tenants in the Project.
b. Notwithstanding any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only language herein to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) dayscontrary, then Landlord Landlord, at Landlord’s sole option, shall have the option of:
(1) terminating right to terminate this Lease if at the Lease effective upon the occurrence time of any such damage, (i) less than two (2) years remain in which event the Rent shall be abated from term of this Lease; (ii) the date Tenant vacates cost of repairing and restoring the damage exceeds twenty-five percent (25%) of the replacement cost of the Building; or (2iii) electing Landlord’s lender does not make the insurance proceeds available to Landlord to restore the Premises.
c. In the event this Lease is not terminated as provided hereunder (i) Landlord shall be obligated to repair the damage; (ii) Tenant shall be entitled to a pro rata abatement of Base Rental and Additional Rental during the period of time the Premises, or any portion thereof, are untenantable due to such damage; and (iii) if the Premises, the Building, provided insurance proceeds are available to fully repair or any portion thereof shall be damaged through the negligence or willful misconduct of Tenant and the cost of repairing the same is not covered by Landlord’s insurance, such damage (except that shall be repaired by Landlord shall not be required to rebuild, repair or replace any part of at the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit sole expense of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. d. In the event that neither party elects to of any termination of this Lease under this Section, this Lease shall cease and terminate as if the date of such damage were the expiration date of the term of this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of.
Appears in 1 contract
Casualty. If all or any portion of the Building should be damaged or destroyed Premises becomes untenantable by fire or other casualtycasualty 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 good faith 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 nine (9) months from the date of the Casualty, then Tenant shall give immediate have the right to terminate this Lease upon written notice to Landlord. Within Landlord within thirty (30) days after receipt thereofof the Completion Estimate. In addition to Tenant’s right to terminate the lease entirely under such circumstances, each of Landlord and Tenant shall notify Tenant whether such repairs can reasonably have the following termination rights, which shall be made: (1) exercised, if at all, by written notice to the other party within thirty (30) daysdays after receipt of the Completion Estimate: (i) if the Casualty affects only the portion of the Premises in the 0 Xxxxxxxx Xxxxxxxx, each of Landlord and Tenant may elect to terminate the Lease with respect to the 3 Carlisle Building Premises only and the Lease shall continue with respect to the 5 Carlisle Building Premises; and (ii) if the Casualty affects only the portion of the Premises in the 0 Xxxxxxxx Xxxxxxxx, each of Landlord and Tenant may elect to terminate the Lease with respect to the 5 Carlisle Building Premises only and the Lease shall continue with respect to the 3 Carlisle Building Premises. In the event of a partial termination hereunder, the parties agree to enter into an amendment of this Lease to reflect the reduction of the Premises effected by such partial termination. In addition, if the Premises have been materially damaged and there is less than two (2) in more than years of the Term remaining on the date of the Casualty (unless Tenant elects to exercise any remaining extension options), then either party may terminate this Lease by delivery of notice of termination to the other party within thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from after the date of such notice.
11.1.1the Casualty. Less Than 30 Days. If Further, provided that Landlord maintains the Building should property insurance required to be damaged maintained by Landlord under the Lease, if an uninsured Casualty occurs that would cost in excess of $250,000 to repair, Landlord may elect to terminate the Lease with respect only to that portion of the Premises located in the building(s) affected by the casualty, by giving Tenant notice of such extent that rebuilding or repairs can be reasonably completed election within thirty (30) daysdays after occurrence of the Casualty. Notwithstanding the foregoing provisions of this paragraph, if only the Premises have been affected by the Casualty and Landlord elects to terminate under this Lease paragraph, Tenant may elect to nullify Landlord’s termination election by (i) giving Landlord written notice (the “Nullification Notice”) of such election not later than ten (10) business days after delivery of Landlord’s termination notice, and (ii) paying to Landlord the Restoration Funds (defined below) not later than ten (10) business days after Landlord delivers to Tenant the Restoration Estimate (defined below). If Tenant fails timely to deliver the Nullification Notice, or having delivered such notice, fails timely to pay the Restoration Funds, then any purported election by Tenant to nullify Landlord’s termination shall not terminate andautomatically become void. If Tenant elects to nullify Landlord’s termination, provided that insurance proceeds are available then, within thirty (30) days after Tenant delivers the Nullification Notice to fully repair the damageLandlord, Landlord shall cause a general contractor selected by Landlord to prepare an estimate of the cost to repair and restore such casualty (the Building“Restoration Estimate”) and shall deliver same to Tenant. The amount set forth in the Restoration Estimate is referred to herein as the “Restoration Funds”. The Restoration Funds shall be held in trust by Landlord for the sole purpose of funding the restoration of such casualty and any portion of the Restoration Funds remaining unexpended after completion of such restoration shall be promptly refunded to Tenant. Forthwith after receipt of the Restoration Funds, except Landlord shall restore the Premises as otherwise provided in this Section 16. If the cost of such restoration exceeds the Restoration Funds, Tenant shall pay to Landlord, as Additional Rent, the amount of such excess within thirty (30) days after delivery of Landlord’s demand therefor accompanied by copies of third party invoices evidencing the amount of such cost of restoration. Notwithstanding anything to the contrary contained in this Lease, in the event that Tenant so nullifies Landlord’s termination election under this paragraph, Rent shall xxxxx only if, as, and to the extent that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building actually receives proceeds from rental interruption insurance maintained by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the BuildingLandlord. In the no event that neither party elects shall Landlord have any obligation to terminate reimburse Tenant or give Tenant a credit against Rent for any amount paid by Tenant to fund a restoration made pursuant to this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofparagraph.
Appears in 1 contract
Samples: Lease Agreement (Cynosure Inc)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties. The Rent payable hereunder Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty 's reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify within ten (10) business days give Tenant whether such repairs written notice of Landlord's reasonable estimation of the date by which material restoration can reasonably be made: made (1) within thirty (30) days; (2) the "Estimated Restoration Date"), and Landlord forthwith shall repair the same and this Lease shall remain in more than thirty (30) days but full force and effect, except that Tenant shall be entitled to a proportionate abatement in less than ninety (90) days; or (3) in more than ninety (90) days rent from the date of such noticedamage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs shall interfere with the use and occupancy by Tenant of the Premises from time to time. For purposes of this Lease, the Building or Premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant's use of the Premises.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord's reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within sixty (60) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant, except for any such fixtures or improvements which were included in Landlord's Work. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the Estimated Restoration Date, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end as of the Estimated Restoration Date, of or such later date fixed in such notice, as if the Estimated Restoration Date (or later date specified in Tenant. The Rent payable hereunder 's notice) was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord's notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant's responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Samples: Lease (Art Technology Group Inc)
Casualty. If the Building should be damaged or is totally destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty -------- casualty or if the Premises or Building is so damaged that rebuilding or repairs cannot be completed within one hundred eighty (30180) days after receipt thereofthe date of such damage, Landlord or Tenant may at its option terminate this Lease, in which event the Rent shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days abated during the unexpired portion of this Lease effective from the date of such notice.
11.1.1. Less Than 30 Daysdamage. If the Building should be or the Premises are damaged by fire, tornado or other casualty covered by Tenant's insurance, but only to such extent that rebuilding or repairs can be reasonably completed within thirty one hundred eighty (30180) daysdays after the date of such damage, or if the damage should be more serious but neither Landlord nor Tenant elects to terminate this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damageLease, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than within ninety (90) days, then Landlord shall have days after the option of:
(1) terminating the Lease effective upon the occurrence date of such damage, damage commence to rebuild or repair the Building and/or Premises and proceed with reasonable diligence to restore the Building and/or Premises to not less than substantially the same condition in which event it was immediately prior to the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Buildingcasualty, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterationsfurniture, partitionsequipment, fixtures, additions fixtures and other improvements which may have been placed in, on or about by Tenant in the Building by or for the benefit of Tenant)Premises. The Rent payable hereunder There shall be abated proportionately from a fair diminution of Base Rent and Additional Rent during the date Tenant vacates time the Building only to Premises are unfit for occupancy until the extent rental abatement insurance proceeds Premises are received substantially completed and restored by Landlord and to substantially the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If same condition they were in as of the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the BuildingCommencement Date. In the event that neither party elects of restoration by Landlord, (i) Landlord shall advise Tenant in writing of its good faith estimate of the time necessary to terminate this Leaseensure the restoration; and (ii) all restoration by Landlord shall be commenced and completed utilizing diligent efforts. Landlord shall use its best efforts to prepare the necessary plans and specifications and apply for the issuance of a building permit as soon as possible following destruction. If any mortgagee under a deed to secure debt, security agreement or mortgage requires the insurance proceeds be applied against the mortgage debt, Landlord shall promptly commence have no obligation to rebuild and diligently prosecute this Lease shall terminate upon notice to completion Tenant; however, Landlord shall notify Tenant within thirty (30) days after any such mortgagee gives a notice to Landlord of such election to apply such proceeds against the repairs mortgage debt, of the fact that such mortgagee has done so. Except as hereinafter provided, any insurance which may be carried by Landlord or Tenant against loss or damage to the Building , provided insurance proceeds are available or to fully repair the damage (except that Landlord Premises shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the sole benefit ofof the party carrying such insurance and under its sole control.
Appears in 1 contract
Samples: Lease Agreement (Universal Beverages Holdings Corp)
Casualty. If If, prior to the Building should be Closing Date, the Redemption Property or any portion thereof is destroyed or damaged or destroyed by fire or other casualtycasualty (a “Damage Event”), Tenant MC Owner will promptly notify the ROFO (RM) Parties of such Damage Event. If there is a Material Damage Event with respect to the Real Property, the ROFO (RM) Parties shall give immediate written notice have the option, to Landlord. Within thirty be exercised within fifteen (3015) days after receipt thereofof notice of such Material Damage Event, Landlord to amend this Agreement to remove the Redemption Property and replace it with the Substituted Redemption Property and, if necessary, the Scheduled Closing Date shall notify Tenant whether be automatically extended to give the ROFO (RM) Parties the full fifteen (15) day period to make such repairs can reasonably election. If the ROFO (RM) Parties so elects to amend this Agreement, the Redemption Property Value shall be madeaccordingly adjusted by the fair market value of the Substituted Redemption Property, and the parties shall enter into an amendment to this Agreement confirming the substitution of the Substituted Redemption Property as the Redemption Property and the applicable adjustment of the Redemption Property Value. “Material Damage Event” means a Damage Event with respect to the Redemption Property if: (1i) within thirty the cost of restoration or repair exceeds the greater of (30x) daysten percent (10%) of the Redemption Property Value and (y) $500,000.00; (2ii) the Damage Event, including any abatements of rent for a Major Tenant, is not covered by MC Owner’s or such Tenant’s insurance (excluding any deductible paid for by MC Owner or such Tenant); (iii) ingress or egress to, the parking for, or the current use and operation of the Redemption Property are materially and adversely affected with no viable alternative available in more than thirty (30) days but in less than ninety (90) dayslieu thereof; or (3iv) the Damage Event causes any Major Tenant’s Lease to automatically terminate by its terms or any Major Tenant terminates its Lease in more than ninety (90) days from the date accordance with its terms because of such notice.
11.1.1Damage Event or any Major Tenant has not waived in writing any right which it has, if any, to terminate its Lease because of such Damage Event unless such right is not likely to arise. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only In addition to the extent rental abatement insurance proceeds are received by Landlord foregoing, in the event that there is a Damage Event or Damage Events with respect to the Redemption Property or any portions thereof, or the “Property” or any portion thereof under either of the Other PSAs, where the cost of restoration or repairs, in the aggregate, exceeds twenty percent (20%) of the total Redemption Property Value under this Agreement and purchase price under the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If Other PSAs (a “Total Damage Event”), the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty ROFO (30RM) days but in less than ninety (90) days, then Landlord Parties shall have the option of:
to be exercised within fifteen (1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (1015) days after receipt of notice from Landlord regarding the time period of repair; and any such Damage Event, to terminate this Lease Agreement in its entirety, and the Rent Closing Date shall be abated from automatically extended to give the date Tenant vacates ROFO (RM) Parties the Buildingfull fifteen (15) day period to make such election. Upon such termination, MC Owner and the ROFO (RM) Parties will have no further rights or obligations under this Agreement, except with respect to the Termination Surviving Obligations. In the event that neither party elects of a Damage Event which is not a Material Damage Event or a Total Damage Event, or if the ROFO (RM) Parties do not otherwise elect to remove an individual Property from the terms of this Agreement with respect to a Material Damage Event or to terminate this LeaseAgreement in the event of a Total Damage Event in accordance with the terms hereof, Landlord shall promptly commence then (a) at Closing MC Owner will assign and diligently prosecute to completion the repairs turn over to the Building ROFO (RM) Parties MC Owner’s insurance proceeds, provided insurance proceeds are available including, without limitation, business interruption insurance, net of reasonable collection costs (or if such have not been awarded, all of its right, title and interest therein) payable with respect to fully the Damage Event (which right of the ROFO (RM) Parties shall survive Closing), (b) MC Owner will not be obligated to repair such damage or destruction, and (c) the damage parties will proceed to Closing pursuant to the terms hereof without abatement of the Redemption Property Value (except for any adjustment thereto for any Substituted Redemption Property), except that Landlord the ROFO (RM) Parties will receive a credit against the Redemption Property Value for any insurance deductible amount. In the event MC Owner elects to perform any work in an effort to make the Redemption Property safe and secure after the Damage Event and to protect the Redemption Property from further damage, MC Owner will be entitled to deduct its reasonable costs and expenses from any amount to which the ROFO (RM) Parties is entitled under this Section 11.1, which right shall survive the Closing. MC Owner shall not settle any claim with respect to any destruction, damage, fire or Damage Event concerning the Redemption Property or any part thereof or spend any award or proceeds for repairs or restoration without obtaining the ROFO (RM) Parties’ prior written consent in each case, which consent shall not be required to rebuildunreasonably withheld, repair conditioned or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofdelayed.
Appears in 1 contract
Samples: Op Unit Redemption Agreement (Mack Cali Realty L P)
Casualty. If the Building should be is damaged or destroyed by fire or other casualty, and (i) the insurance proceeds actually received by Landlord on account of such damage are sufficient to pay for the necessary repairs, (ii) Landlord's Mortgagee permits Landlord to utilize the insurance proceeds to repair such damage, and (iii) Landlord represents that the Building can be substantially repaired within six (6) months after the date of such casualty, this Lease shall remain in effect and Landlord shall substantially repair the damage within six (6) months after the date of such casualty, subject to delays beyond Landlord's control. If any of the foregoing conditions requiring Landlord to repair the Building is not met, Landlord, by notice to Tenant given within one hundred twenty days of the date of casualty, said time period to be strictly of the essence, may elect either to (i) terminate this Lease; or (ii) repair the damage as soon as reasonably possible, in which event this Lease shall remain in full force and effect (but Tenant shall give immediate written notice then have the right to Landlordterminate this Lease if the Property cannot be substantially repaired within six (6) months after the date of casualty). Within Tenant's notification of termination pursuant to the immediately preceding sentence, if any, shall be required within thirty (30) days after receipt thereofthe date of said notice of election from Landlord. Time shall be strictly of the essence with regard to Tenant's notification of termination. If, for any reason whatsoever, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) has not received Tenant's aforesaid written notification of termination within the aforesaid thirty (30) days; (2) day period, then, Tenant shall automatically and irrevocably be deemed to have waived its said right of termination and Landlord's notice of election shall be deemed accepted and approved by Tenant. If this Lease shall remain in more than thirty (30) days but full force and effect following a casualty, and if said casualty or the repair and/or restoration of the damage caused thereby shall render the Premises untenantable, in less than ninety (90) days; whole or (3) in more than ninety (90) days part, then and in those events, there shall be an equitable abatement of Annual Base Rent and Additional Rent based upon the portion of the Premises rendered untenantable, from the date the Premises (or said portion thereof) became untenantable until the date that the Premises (or said portion thereof) becomes tenantable. Tenant waives the protection of such notice.
11.1.1any law which grants a tenant the right to terminate a lease in the event of the destruction of a leased property, and agrees that the provisions of this paragraph shall govern in the event of any destruction of the Premises and/or Building and/or Property. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair improvements or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only alterations to the extent rental abatement Property made by Tenant, except to the extent, if any, that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then specifically compensate Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit value of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancyany such improvements or alterations.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Samples: Lease Agreement (Parlex Corp)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty cause and in a licensed contractor's reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord's reasonable estimation of the length of time within which material restoration can be made, and Landlord's determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant's use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in a licensed contractor's reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord's notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant's responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Samples: Lease (Monterey Gourmet Foods)
Casualty. If In the Building should be damaged event of total or destroyed partial destruction of the Leased Premises by fire or other casualty, Tenant Landlord agrees promptly to restore and repair same; provided, however, Landlord's obligation hereunder with respect to the Leased Premises shall give immediate written notice be limited to Landlordthe reconstruction of such of the leasehold improvements as were originally required to be made by Landlord pursuant to Section 2.07 above, if any. Within thirty Rent shall proportionately xxxxx during the time that the Leased Premises or part thereof are unusable because of any such damage. Notwithstanding the foregoing, if the Leased Premises are (30a) so destroyed that they cannot be repaired or rebuilt within two hundred ten (210) days after receipt thereoffrom the casualty date; or (b) destroyed by a casualty that is not covered by the insurance required hereunder or, if covered, such insurance proceeds are not released by any mortgagee entitled thereto or are insufficient to rebuild the Leased Premises; then, in case of a clause (a) casualty, either Landlord shall notify or Tenant whether such repairs can reasonably be made: may, or, in the case of a clause (1b) within casualty, then Landlord, may, upon thirty (30) days; (2) ' written notice in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1. Less Than 30 Daysother party, terminate this Lease with respect to Illegible thereafter accruing. If the Building should be damaged only Lease is not terminated pursuant to such extent that rebuilding the preceding sentence and Landlord fails to substantially complete the restoration and repair of the Leased Premises within two hundred eighty (280) days after the date for the occurrence of the damage (subject to delays due to force majeure and any delay caused by Tenant's acts or repairs can be reasonably completed within thirty (30) daysomissions), then Tenant shall have the right to terminate this Lease shall not terminate andupon written notice to Landlord, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of so long as Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are 's written notice is received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only prior to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence Landlord's substantial completion of such damagerestoration and repair, in which event Tenant waives any right under applicable laws inconsistent with the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part terms of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancythis paragraph.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
Appears in 1 contract
Samples: Lease Agreement (Datapath Inc)
Casualty. (a) Tenant shall give immediate notice to Landlord in case of fire or other casualty in the Premises. If (a) so much of the Building should be is damaged or destroyed rendered untenantable (whether or not the Premises or a portion thereof shall be damaged) by fire or other cause that Landlord shall reasonably determine not to restore the same or to demolish the remainder thereof; or (b) if the Premises shall suffer damage or be rendered untenantable by fire or other casualty and Landlord shall determine (i) that such portion of the Premises cannot be reasonably expected to be restored or rendered tenantable under a normal working schedule within a period of eighteen (18) months after the occurrence of such damage or destruction or (ii) that each Superior Lessor and Superior Mortgagee will not permit Landlord to apply the net proceeds of Landlord's insurance to the restoration of the Building or the Premises, then and in any such event Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days of the occurrence of such fire or other casualty. If either (y) the Premises shall be totally or substantially damaged or rendered wholly or substantially untenantable (whether or not any other portions of the Building shall be damaged) or (z) the Building shall be substantially damaged, so that Tenant's access to and use and enjoyment of the Premises shall be rendered substantially impossible, whether or not the Premises shall be damaged, and in case of either (y) or (z) Landlord reasonably determines that the same cannot reasonably be expected to be restored or rendered tenantable under a normal working schedule within a period of twelve (12) months after the occurrence of such damage or destruction, then Landlord shall promptly notify Tenant of such fact, and within thirty (30) days thereafter either Landlord or Tenant may terminate this Lease by notice to the other party. If during the last year of the Term the Building or the Premises shall be damaged by fire or casualty, and if such fire or casualty damage, whether to the Premises or the Building, cannot reasonably be expected to be repaired or restored within one hundred eighty (180) days from the time that repair or restoration work would commence or prior to the Expiration Date, whichever first occurs, then Landlord shall promptly notify Tenant of such fact, and Landlord or Tenant shall have the right, by giving notice to the other not later than thirty (30) days thereafter, to terminate this Lease. If either Landlord or Tenant shall give immediate written notice of termination pursuant to Landlord. Within this Section 7.05, the Term shall expire by lapse of time upon the date which is thirty (30) days after receipt such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. Upon the termination of this Lease under the conditions provided for in this Section 7.05, Tenant's liability for rent shall cease as of the date of such termination, subject, however, to abatement thereof between the date of such casualty and the date of such termination pursuant to Section 7.05(b) below. Tenant hereby expressly waives the provisions of Section 227 of the Real Property Law or any like law which may hereafter be enacted and agrees that the foregoing provisions of this Article shall govern and control in lieu thereof, this Article being an express agreement governing any case of damage or destruction of the Premises by fire or other casualty.
(b) If the Building or any portion thereof is damaged by fire or other casualty and this Lease is not terminated pursuant to Section 7.05(a), Landlord, promptly after such damage and the determination of the net amount of insurance proceeds available, shall use due diligence to restore the Premises and the Building as nearly as possible to their condition prior to such fire or other casualty. Notwithstanding the foregoing, Landlord shall notify Tenant whether not be obligated to expend for such repairs can reasonably and restoration any amount in excess of the net insurance proceeds made available to Landlord after deduction therefrom of Landlord's expenses in obtaining such proceeds and any amounts applied by any Superior Lessor or Superior Mortgagee to obligations other than restoration of the Building. In no event shall Landlord be made: obligated to repair or restore any Tenant's work, any Alterations, Tenant's Property or Tenant’s Improvements and Betterments. Where Landlord is obligated or otherwise elects to effect restoration of the Premises, unless such restoration is completed within twelve (112) months from the date of the casualty (such period to be subject, however, to extension where the delay in completion of such work is due to causes beyond Landlord's reasonable control (but in no event beyond eighteen (18) months from the date of the casualty)), Tenant shall have the right to terminate this Lease at any time after the expiration of such 12-month period (as may be extended) but prior to the time that the restoration is substantially completed, such termination to take effect as of the thirtieth (30th) day after such notice is given, with the same force and effect as if such date were the date originally established as the Expiration Date hereof unless, within such thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of day period such notice.
11.1.1. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damagerestoration is substantially completed, in which event the Rent case Tenant's notice of termination shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions no force and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; effect and this Lease and the Term shall continue in full force and effect.
(c) Until this Lease is terminated pursuant to Section 7.05(a) or the restoration work has been completed pursuant to Section 7.05(b), the Fixed Rent and Tenant's Tax Payment shall be abated apportioned or adjusted according to the part of the Premises which is usable by Tenant. No damages, compensation or claims shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Premises or of the Building. If rent abates in respect of all or any portion of the Premises and Tenant reoccupies the Premises or such portion, thereof, or any part thereof, for the conduct of Tenant's business operations during the period in which restoration work is taking place and prior to the date that the same is made completely tenantable, the Fixed Rent allocated to the space so reoccupied shall be payable, and Tenant's Tax Share shall increase by the portion thereof allocable to such space, from the date which is five (5) Business Days after notice from Landlord that such space is ready for reoccupancy. Notwithstanding anything in this Section 7.05 to the contrary, if Landlord shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) payable by reason of any damage to the Building or the Premises under Landlord's insurance policies by reason of any action or inaction by Tenant vacates or failure by Tenant to comply with any of the Building. In the event that neither party elects to terminate provisions of this Lease, Landlord shall promptly commence and diligently prosecute then without prejudice to completion any other remedy which may be available against Tenant, the repairs to the Building , abatement of rent provided insurance proceeds are available to fully repair the damage (except that Landlord for in this Section 7.05(c) shall not be required effective to rebuildthe extent of the uncollected insurance proceeds, repair or replace and the amount of any alterations, partitions, fixtures, additions and other improvements which may have been placed in, abatement theretofore taken by Tenant shall be immediately payable to Landlord on or about the Building by or for the benefit ofdemand.
Appears in 1 contract
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90180) days from the date of such noticedamage, Landlord shall forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (45) days from the date of such damage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of Tenant. The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement party carrying such insurance proceeds are received by Landlord and the Building are unfit for occupancyunder its sole control.
11.1.2. Greater Than 30 Days. If 22.4 In the Building event that Landlord should be damaged only fail to complete such extent that rebuilding or repairs can be reasonably completed in more than and material restoration within sixty (60) thirty (30) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in less than ninety (90) daysthe event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds be applied to such indebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
Appears in 1 contract
Casualty. If the Premises, the Building should or Property shall be damaged or destroyed by fire or other casualtycasualty insurable under standard coverage insurance to the extent of less than twenty-five percent (25%) of the reasonable replacement value thereof at the time of such damage or destruction, Landlord shall, except as otherwise provided herein, repair and/or rebuild the same with reasonable diligence. Tenant shall repair or restore with due diligence all trade fixtures, equipment and other installations theretofore installed by Tenant to the extent of Tenant’s obligations as set forth in Exhibit B and damaged or destroyed by such fire or casualty. If the Premises or the Building shall be damaged or destroyed to the extent of twenty-five percent (25%) or more of the reasonable replacement value thereof at the time of such damage or destruction, or shall be damaged or destroyed as a result of a risk which is not covered by insurance, or shall be damaged or destroyed to any extent by any cause in the last three (3) years of the then current term of this Lease (unless Tenant shall have exercised prior to the date of said fire or other casualty any remaining option to extend the term of this Lease), or if the Property (whether or not including the Premises or the Building) should be damaged or destroyed to the extent of twenty-five percent (25%) or more of the reasonable replacement value thereof at the time of such damage or destruction, the Landlord may at its sole election restore or rebuild the Premises, the Building or the Property, as the case may be, or terminate this Lease. In any instance where Landlord shall have an election to terminate this Lease by reason of such damage or destruction, it shall give immediate written Tenant notice of its election within sixty (60) days after such damage or destruction, and in such event, if Landlord shall elect to restore or rebuild, Landlord shall proceed to do so, with reasonable diligence and Tenant shall replace or restore with reasonable diligence all trade fixtures, equipment and other installations theretofore installed by Tenant and damaged or destroyed by such fire or other casualty. Landlord’s obligation hereunder shall be to restore or rebuild to no greater extent than its obligations in connection with the original construction as set forth in Exhibit B and shall also be subject to zoning and building laws then applicable to the Premises. Further, Landlord’s obligation hereunder shall be limited to the proceeds received and retained by Landlord (net of any amounts required to be paid to Landlord’s mortgagee) under the insurance policy which is allocable to the Premises, and Landlord shall not be obligated to commence such repairs and/or rebuilding until such insurance proceeds are released to Landlord. Within Landlord shall not be liable for delays in the making of any such repairs which are due to governmental regulations, casualties, and strikes, unavailability of labor and materials, and other causes beyond the reasonable control of Landlord; nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to that business of Tenant resulting from reasonable delays in the making of any such repairs. Tenant shall, during any period of reconstruction or repair of the Premises, the Building and/or of the Property, continue the operation of its business in the Premises to the extent reasonably practicable. If the Premises, or any part thereof, or the Building shall be damaged or destroyed by fire or other casualty not caused by the negligence or act of Tenant (irrespective of the time when such damage or destruction shall occur, and irrespective of whether or not Landlord shall be insured against the perils causing same), and if as a result thereof the Premises shall be rendered untenantable to an extent which would reasonably require the Tenant to curtail a part of its business operation, then a just proportion of the Rent reserved hereunder shall be suspended or abated according to the extent to which Tenant may be reasonably required to discontinue its business in the Premises until the work of restoration to be done by Landlord as aforesaid shall be substantially completed. In the event Landlord elects to terminate this Lease pursuant hereto, the effective termination date shall be not less than thirty (30) days after receipt the date on which a termination notice is received by Tenant, this Lease and the term hereof shall expire as of such effective termination date, and the yearly Rent and Additional Rent shall be apportioned as of such date; further, if the Premises or any part thereof shall have been rendered unfit for use and occupation by reason of such damage, the yearly Rent and Additional Rent for the period from the date of the fire or other casualty to the effective termination date, or a just and proportionate part thereof, Landlord according to the nature and extent to which the Premises shall notify Tenant whether have been rendered unfit, shall be abated. Notwithstanding any provision of this Section XV to the contrary, (I) in case the Building is so damaged by such repairs can reasonably be made: (1) fire or other casualty that Landlord’s architect shall make a written determination within thirty (30) days; (2) in days of such fire or other casualty that substantial repair or reconstruction of the Building can reasonably be expected to require more than nine (9) months from the date the work begins, then, whether or not the Premises shall have been damaged by such fire or other casualty, this Lease and the term hereof may be terminated at the election of Landlord or Tenant by a notice in writing of its election so to terminate which shall be given to the other party within sixty (60) days following such fire or other casualty, the effective termination date of which shall be not less then thirty (30) days but after the date on which such termination notice is received; and (II) In the event Landlord shall have not completed the repairs or restoration to the Premises and the means of access thereto to a tenantable condition as required hereunder in less than ninety the event of a fire or other casualty, within nine (909) days; or (3) in more than ninety (90) days from months of the date of such notice.
11.1.1. Less Than 30 Days. If fire or other casualty, Tenant shall have the Building should be damaged only right to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, terminate this Lease shall not lease by a notice in writing of its election so to terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately from given to Landlord within fifteen (15) days following the expiration of said nine (9) month period, the effective termination date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should of which shall be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from after the date Tenant vacates the Building; or (2) electing on which such termination notice is received. Tenant’s failure to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace deliver any part notice of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed termination within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period set forth in this Section XV for such notice shall render any such notice void and of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair no force or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofeffect.
Appears in 1 contract
Samples: Lease Agreement (Ace Comm Corp)
Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereofdays, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If the Building should such repairs cannot, in Landlord’s reasonable estimation, be damaged only to such extent that rebuilding or repairs can be reasonably completed made within thirty one hundred eighty (30180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence request.
22.7 Tenant hereby waives any and diligently prosecute to completion all rights under and benefits of Sections 1932(2) and 1933(4) of the repairs to the Building California Civil Code, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and similar or successor Regulations or other improvements which may have been placed in, on laws now or about the Building by or for the benefit ofhereinafter in effect.
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Casualty. 17.1. If there is any damage to or destruction of the Demised Premises, LESSEE shall promptly give notice thereof to LESSOR, describing the nature and extent thereof.
17.2. If the Building should Demised Premises are damaged, but no portion thereof is rendered untenantable, and this Lease is not terminated pursuant to Section 17.4, 17.5 or 17.6 hereof, LESSOR shall, at its own expense, cause Restoration to be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to Landlord. Within thirty (30) days after receipt thereof, Landlord shall notify Tenant whether such repairs can completed as soon as reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days practicable but in less than ninety (90) days; or (3) in more no event later than ninety (90) days from the date of such noticeoccurrence, subject to any Excusable Delays, and the Basic Rent and Additional Rent shall not xxxxx.
11.1.1. Less Than 30 Days17.3. If the Building should be Demised Premises are damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) daysdestroyed and are rendered partially or wholly untenantable, and this Lease shall is not terminate andterminated pursuant to Section 17.4, provided that insurance proceeds are available 17.5 or 17.6 hereof, LESSOR shall, at its own expense, cause Restoration to fully repair the damage, Landlord shall repair the Building, except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant. The Rent payable hereunder shall be abated proportionately completed as soon as reasonably practicable but in no event later than three hundred sixty five (365) days from the date Tenant vacates the Building only occurrence, subject to the extent rental abatement insurance proceeds are received by Landlord any Excusable Delays, and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Basic Rent and Additional Rent shall be abated from the date Tenant vacates the Building; equitably abated.
17.4. Without limiting LESSOR'S termination right under Section 17.5, if thirty percent (30%) or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part more of the alterationsDemised Premises is damaged or destroyed, partitionsLESSOR, fixturesin lieu of Restoration, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects elect to terminate this Lease, Landlord provided that notice of such termination shall promptly commence be sent to LESSEE within sixty (60) days after the occurrence of such casualty. If LESSOR exercises its right to terminate this Lease, this Lease shall cease, terminate and diligently prosecute expire, and all Basic Rent and Additional Rent shall be prorated, as of the date of such damage or destruction.
(a) If the Demised Premises are damaged or destroyed and, in the reasonable opinion of LESSOR, more than three hundred sixty five (365) days are necessary to completion the repairs complete Restoration, then LESSOR or LESSEE may elect to terminate this Lease provided notice of such termination shall be sent to the Building other party within sixty (60) days after the occurrence of such casualty.
(b) If, provided insurance proceeds are available to fully repair during the damage final year of the Term more than twenty percent (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about 20%) of the square footage of the Building by is rendered partially or for wholly untenantable, then LESSOR may elect to terminate this Lease provided notice of such termination shall be sent to LESSEE within sixty (60) days after the benefit ofoccurrence of such casualty.
(c) If either party exercises its right to terminate this Lease pursuant to this Section 17.5, this Lease shall cease, terminate and expire, and all Basic Rent and Additional Rent shall be prorated, as of the date of such damage or destruction.
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Casualty. If 22.1 In the event the Premises or the Building should be are damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice to cause and in Landlord. Within thirty ’s reasonable estimation such damage can be materially restored within one hundred eighty (30180) days after receipt thereoffollowing the commencement of restoration, Landlord shall notify forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant whether shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs can reasonably be made: shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (9045) days from the date of such noticedamage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage.
11.1.1. Less Than 30 Days. 22.2 If such repairs cannot, in Landlord’s reasonable estimation, be made within one hundred eighty (180) days following the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed commencement of restoration, Landlord and Tenant shall each have the option of giving the other, at any time within thirty (30) daysdays after Landlord’s notice of estimated restoration time, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall not expire and all interest of the Tenant in the Premises shall terminate andas of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, provided that insurance proceeds are available to fully repair the damage, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect, and the Building, except that rent hereunder shall be proportionately abated as provided in Section 22.1.
22.3 Landlord shall not be required to rebuild, repair or replace any alterationsdamage or loss by or from fire or other cause to any panelings, decorations, partitions, fixturesadditions, additions and railings, ceilings, floor coverings, office fixtures or any other property or improvements installed on the Premises by, or belonging to, Tenant. Any insurance which may have been placed in, on be carried by Landlord or about Tenant against loss or damage to the Building by or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.
22.4 In the event that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon this Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant. The Rent payable hereunder , strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be abated proportionately from extended for the date Tenant vacates the Building only amount of time Landlord is so delayed.
22.5 Notwithstanding anything to the extent rental abatement contrary contained in this Article: (a) Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any extension thereof, provided that Tenant has not previously exercised its right to any available Renewal Option (as defined below) in accordance with this Lease that would extend the Term, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds are received by Landlord and the Building are unfit for occupancy.
11.1.2. Greater Than 30 Days. If the Building should be damaged only applied to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) daysindebtedness, then Landlord shall have the option of:
(1) terminating the right to terminate this Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving delivering written notice of termination to Tenant within ten fifteen (1015) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.
22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord regarding to remove forthwith, at its sole cost and expense, such portion of all of the time period property belonging to Tenant or its licensees from such portion or all of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Building or Premises as Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit ofrequest.
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Samples: Lease Agreement
Casualty. It is agreed by and between the parties hereto that in case the Demised Premises, or the Building, shall be destroyed or damaged in part or in whole by fire or other elements, or by any other cause, to an extent which shall render the Demised Premises untenantable or unfit for occupancy for the purposes intended, the Tenant shall pay the accrued Rent to the time of such destruction. Landlord shall, at its sole option, either (a) terminate this Lease, in which case Tenant shall have no further liability for future Rent, or (b) repair the Demised Premises with all reasonable speed, not exceeding one-hundred eighty (180) days from the date of said casualty. If Landlord cannot represent that the Building should repairs shall be substantially completed and Tenant may re-occupy the Demised Premises within one-hundred eighty (180) days from the date of said casualty (as determined by Landlord's engineer), then Tenant may terminate this Lease without further liability by either party. Upon completion of such repairs, Tenant shall resume paying Rent as provided herein. If, however, the Demised Premises shall be partially damaged by fire or destroyed other causes, then the damage shall be repaired by Landlord with all reasonable speed, and the Rent for the portions not usable by the Tenant shall be apportioned and abated for the term beginning with the date of such damage and ending when such damage shall have been repaired and such portions of the Demised Premises again made usable to the Tenant; provided, however, that if the repairs are not completed within one-hundred eighty (180) days of the date of said casualty, then Tenant may terminate this Lease without further liability of either party upon sixty (60) days written notice. In no event shall Landlord have any liability or be required to repair or replace Tenant's merchandise, trade fixtures, furnishings, equipment, leasehold improvements, personal property, or other items of Tenant and the insurance proceeds on account thereof shall be sufficient for Landlord to repair the improvements. Except to the extent specifically provided in this Lease, no damage or destruction of the Demised Premises, or any portion thereof, by fire or other casualty, nor the untenantability of the Demised Premises, or any portion thereof as a result of fire or other casualty, shall permit Tenant shall give immediate written notice to Landlord. Within thirty (30) days after receipt terminate this Lease or surrender the Demised Premises, or any part thereof, Landlord nor shall notify relieve Tenant whether such repairs can reasonably be made: (1) within thirty (30) days; (2) in more than thirty (30) days but in less than ninety (90) days; or (3) in more than ninety (90) days from the date of such notice.
11.1.1its obligations to pay Rent. Less Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed within thirty (30) days, this Lease shall not terminate and, provided that insurance proceeds are available to fully repair the damage, Landlord shall repair the Building, except that Landlord Tenant shall not be required entitled to rebuildand hereby waives any and all claims against Landlord for any compensation or damage for loss of use of the Demised Premises, or any portion thereof, and/or for any inconvenience or annoyance resulting from any damage, destruction, repair or replace restoration including, without limitation, any alterationsinjury (or death) to persons or damage to property, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit interruption of Tenant. The Rent payable hereunder shall be abated proportionately 's business, resulting from fire or other casualty, unless caused by the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building are unfit for occupancygross negligence or willful misconduct of Landlord, its employees or agents.
11.1.2. Greater Than 30 Days. If the Building should be damaged only to such extent that rebuilding or repairs can be reasonably completed in more than thirty (30) days but in less than ninety (90) days, then Landlord shall have the option of:
(1) terminating the Lease effective upon the occurrence of such damage, in which event the Rent shall be abated from the date Tenant vacates the Building; or (2) electing to repair the Building, provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of the alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of Tenant). The Rent payable hereunder shall be abated proportionately from the date Tenant vacates the Building only to the extent rental abatement insurance proceeds are received by Landlord and the Building is unfit for occupancy.
11.1.3. Greater Than 90 Days. If the Building should be so damaged that rebuilding or repairs cannot be completed within ninety (90) days, either Landlord or Tenant may terminate by giving written notice within ten (10) days after notice from Landlord regarding the time period of repair; and this Lease and the Rent shall be abated from the date Tenant vacates the Building. In the event that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building , provided insurance proceeds are available to fully repair the damage (except that Landlord shall not be required to rebuild, repair or replace any alterations, partitions, fixtures, additions and other improvements which may have been placed in, on or about the Building by or for the benefit of
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