Damage and Condemnation. 12.1 In the event during the Lease Term the Premises are damage by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such damage, Lessor may, at Lessor’s option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damage, this Lease shall remain in full force and effect, but Lessor may require Lessee to temporarily vacate the Premises while the same are being repaired and, subject to the provisions of this Paragraph 12.1, rent shall abate during this period to the extent that the Premises are untenantable; provixxx, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty (180) day period, Lease shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such written notification, but the other terms hereof shall remain in full force and effect. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be written notice to the other party terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such written notification, but the other terms hereof shall remain in full force and effect. 12.2 In the event the Business Park shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority , agency, body or public utility, seeking to take said Premises or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 ) days prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of the Premises or the Property, or paid as the purchase price for any conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor. Lessee shall execute and deliver any instruments as Lessor may deem necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands, and Premises or any portion thereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore the Premises within a period of six (6) months after the date of the physical taking, and such restoration shall make the same reasonably tenantable and suitable for the general use being made by lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such restoration and reconstruction on or before six (6) months after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken in condemnation, Lessee shall have the right to cancel this Lease by prompt notice after such occurrence. If this lease continues in effect after such physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and during the unexpired portion of the Lease Term. 12.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct or improve any part of the Premises, such repairs, alterations, removal reconstruction or improvement shall not in any way affect the obligations or covenant of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent shall abate during the period of and to the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved cannot be reasonably accomplished within one hundred eighty (180) days, Lessor may at its option terminate this lease by notice to Lessee; provided, further, that where the requirement by a governmental authority to repair, alter, remove, reconstruct or improve any part of the Premises arises out of any act of omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement shall be effected promptly at the sole cost and expense of Lessee, and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this Lease.
Appears in 1 contract
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, Lessor may, at Lessor’s 's option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee temporarily to temporarily vacate the Premises while the same they are being repaired and, subject to the provisions of this Paragraph 12.114.1, rent shall abate xxxxx during this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty twenty (180120) day period, Lease Lessee shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be by written notice to the other party Lessee terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Paragraph 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee'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 Lessee or any of the Lessee Parties, Lessee shall be fully responsible, to the extent not covered by insurance, for repairing, restoring, or paying for the damage as Lessor shall direct and this Lease shall remain in full force and effecteffect without reduction or abatement of rent.
12.2 14.2 In the event the Business Park Building shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said Premises the Premises, the Property or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 10) days days' prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of for the Premises or the Propertytaking, or paid as the purchase price for any the sale and conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor; provided, however, Lessee shall have the sole right to reclaim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee's own right on account of any and all costs or loss (including loss of business) to which Lessee might be put in removing Lessee's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location. Lessee shall execute and deliver any instruments as instruments, at the expense of Lessor, that Lessor reasonably may deem necessary to expedite any condemnation proceedings or proceedings, to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said landslands and Premises, and Premises or any portion thereof. Lessee shall vacate the Premises, remove all Lessee's personal property therefrom and deliver up peaceable possession thereof to Lessor or to such other party designated by Lessor in the aforementioned notice. Failure by Lessee to comply with any provisions of this Paragraph 14.2 shall subject Lessee to such costs, expenses, damages, and losses as Lessor reasonably may incur by reason of Lessee's breach hereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall shall, at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore and reconstruct the Premises within a period of six one hundred twenty (6120) months days after the date of the physical taking, and such restoration and reconstruction shall make the same Premises reasonably tenantable and suitable for the general use being made by lessee Lessee prior to the taking and shall restore the Premises to its condition immediately prior to the taking, reasonable wear and tear expected; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s 's leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such the restoration and reconstruction on or before six within one hundred twenty (6120) months days after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken taking, Lessee, in condemnationaddition to any other rights and remedies Lessee may have, Lessee shall have the right to cancel this Lease by prompt notice after such occurrenceLease. If this lease Lease continues in effect after such the physical taking, the rent payable hereunder shall be equitably adjusted in proportion to the percentage of the Premises taken or rendered unusable as a result of such taking, both during the period of restoration operations of Lessor and reconstruction and during the unexpired portion of the Lease Term.
12.3 14.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct reconstruct, or improve (hereinafter collectively called "Repairs") any part of the Premises, such repairs, alterations, removal reconstruction or improvement then the Repairs may be made by and at the expense of Lessor and shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent the Repairs. If the Repairs shall abate during render the period of Premises untenantable and to if the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved canRepairs are not be reasonably accomplished completed within one hundred eighty twenty (180120) daysdays after the date of the notice, Lessor requirement, order, or decree, either party hereto upon written notice to the other party given not later than one hundred thirty (130) days after the date of the notice, requirement, order, or decree, may at its option terminate this lease by notice Lease, in which case rent shall be apportioned and paid to Lesseethe date the Premises were rendered untenantable; provided, further, provided however that where the requirement by a governmental authority having jurisdiction to repair, alter, remove, reconstruct reconstruct, or improve any part of the Premises arises out of any act of or omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement the Repairs shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this LeaseLease whether or not the completion of the Repairs takes more than one hundred twenty (120) days.
Appears in 1 contract
Samples: Lease (Digital Insight Corp)
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such the damage, Lessor may, at Lessor’s 's option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee temporarily to temporarily vacate the Premises while the same they are being repaired and, subject to the provisions of this Paragraph 12.114.1, rent shall abate during abatx xxxing this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty (180) day period, Lease Lessee shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such the damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be by written notice to the other party Lessee terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Paragraph 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee'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 Lessee, Lessee shall be fully responsible, to the extent not covered by insurance, for repairing, restoring, or paying for the damage as Lessor shall direct and this Lease shall remain in full force and effecteffect without reduction or abatement of rent.
12.2 14.2 In the event the Business Park Building shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said Premises the Premises, the Property or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 10) days days' prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of the Premises or the Property, or paid as the purchase price for any conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor. Lessee shall execute and deliver any instruments as Lessor may deem necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands, and Premises or any portion thereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore the Premises within a period of six (6) months after the date of the physical taking, and such restoration shall make the same reasonably tenantable and suitable for the general use being made by lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such restoration and reconstruction on or before six (6) months after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken in condemnation, Lessee shall have the right to cancel this Lease by prompt notice after such occurrence. If this lease continues in effect after such physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and during the unexpired portion of the Lease Term.
12.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct or improve any part of the Premises, such repairs, alterations, removal reconstruction or improvement shall not in any way affect the obligations or covenant of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent shall abate during the period of and to the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved cannot be reasonably accomplished within one hundred eighty (180) days, Lessor may at its option terminate this lease by notice to Lessee; provided, further, that where the requirement by a governmental authority to repair, alter, remove, reconstruct or improve any part of the Premises arises out of any act of omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement shall be effected promptly at the sole cost and expense of Lessee, and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this Lease.condemn-
Appears in 1 contract
Samples: Lease (Fundtech LTD)
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot can reasonably be completed within one hundred eighty (180) days of the date of the event causing such the damage, Lessor may, at Lessor’s option's option within sixty (60) days of such event, elect to repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee temporarily to temporarily vacate the Premises while the same they are being repaired and, subject to the provisions of this Paragraph 12.1Section 14.1, rent shall abate during abatx xxxing this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If Lessor elects to repair and rebuild, but the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty (180) day period, Lease Lessee shall have the right, by written notice to LessorLessor within ten (10) days of the end of such period, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notificationtermination, in addition to any abatement for untenantability under the foregoing provisions of this Section 14.1, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If (a) within the aforesaid sixty (60) day period Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty or (60b) days or if the Business Park Premises or any part thereof be so damaged that the Premises are untenantable and in Lessor's reasonable opinion, which shall be given to Lessee by notice in writing ("non-completion notice") within sixty (60) days of such casualty, the repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such the damage, which said notice shall be given to Lessee then within sixty fourteen (6014) days of Lessee's receipt of Lessor's notice of such election not to rebuild or such non-completion notice, Lessor or Lessee may be by seven (7) days' written notice to the other party terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of the Lessor's election not to repair and rebuilt or such written notificationnon-completion notice, as applicable, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Section 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee's breach hereof. Notwithstanding any provision of this Lease to the contrary, if the Premises or any part thereof are damaged by fire or other casualty caused by or materially contributed to by the negligence or misconduct of Lessee or any of the Lessee Parties, Lessee shall be fully responsible, to the extent not covered by insurance, for repairing, restoring, or paying for the damage as Lessor shall direct and this Lease shall remain in full force and effecteffect without reduction or abatement of rent.
12.2 14.2 In the event the Business Park Premises shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said the Premises or any substantial portion thereofthereof which would materially adversely affect Lessee's use and occupancy of the Premises, then Lessor, Lessor at its option, option may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 10) days days' prior written notice to the Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. Lessor shall notify Lessee of the commencement of any such condemnation proceeding within fourteen (14) days of Lessor's becoming aware of the same. All damages or other sums awarded in connection with any condemnation or taking of any portion of for the Premises or the Propertytaking, or paid as the purchase price for any the sale and conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor; provided, however, Lessee shall have the sole right to reclaim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee's own right on account of any and all costs or loss, including loss of business, to which Lessee might be put in removing Lessee's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location. Lessee shall execute and deliver any instruments as instruments, at the expense of Lessor, that Lessor may deem necessary to expedite any condemnation proceedings or proceedings, to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands, and Premises or any portion thereof. Lessee shall vacate the Premises, remove all Lessee's personal property therefrom and deliver up peaceable possession thereof to Lessor or to such other party designated by Lessor in the aforementioned notice. Failure by Lessee to comply with any provisions of this Section 14.2 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee's breach hereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall shall, at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore and reconstruct the Premises within a period of six one hundred eighty (6180) months days after the date of the physical taking, and such restoration and reconstruction shall make the same reasonably Premises tenantable and suitable as reasonably practicable for the general permitted use being made by lessee Lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s 's leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such the restoration and reconstruction on or before six within one hundred eighty (6180) months days after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken taking, Lessee, in condemnationaddition to any other rights and remedies Lessee may have, Lessee shall have the right to cancel this Lease by prompt notice after such occurrenceLease. If this lease Lease continues in effect after such the physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and reconstruction and during the unexpired portion of the Lease Term.
12.3 14.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct reconstruct, or improve (herein collectively called "Repairs") any part of the Premises, such repairsthen the Repairs shall be made by and at the expense of Lessor, alterationsunless resulting from alterations made by Lessee, removal reconstruction or improvement and shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent the Repairs. If the Repairs shall abate during render the period of Premises untenantable and to if the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved canRepairs are not be reasonably accomplished completed within one hundred eighty (180) daysdays after the date of the notice, Lessor requirement, order, or decree, either party hereto upon written notice to the other party given not later than one hundred ninety (190) days after the date of the notice, requirement, order, or decree, may at its option terminate this lease by notice Lease, in which case rent shall be apportioned and paid to Lesseethe date the Premises were rendered untenantable; provided, further, provided however that where the requirement by a governmental authority having jurisdiction to repair, alter, remove, reconstruct reconstruct, or improve any part of the Premises arises out of any act of or omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement the Repairs shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this LeaseLease whether or not the completion of the Repairs takes more than one hundred eighty (180) days.
14.4 Nothing in this Section 14 shall preclude extension of such 180-day periods by reason of force majeure as described in Section 8.
Appears in 1 contract
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, Lessor may, at Lessor’s 's option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee temporarily to temporarily vacate the Premises while the same they are being repaired and, subject to the provisions of this Paragraph 12.114.1, rent shall abate xxxxx during this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty twenty (180120) day period, Lease Lessee shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be by written notice to the other party Lessee terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Paragraph 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee's breach hereof.
12.2 14.2 In the event the Business Park Building shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said Premises the Premises, the Property or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten twenty (10 20) days days' prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of for the Premises or the Propertytaking, or paid as the purchase price for any the sale and conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor; provided, however, Lessee shall have the sole right to reclaim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee's own right on account of any and all costs or loss (including loss of business) to which Lessee might be put in removing Lessee's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location. Lessee shall execute and deliver any instruments as instruments, at the expense of Lessor, that Lessor may deem necessary to expedite any condemnation proceedings or proceedings, to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said landslands and Premises, and Premises or any portion thereof. Lessee shall vacate the Premises, remove all Lessee's personal property therefrom and deliver up peaceable possession thereof to Lessor or to such other party designated by Lessor in the aforementioned notice. Failure by Lessee to comply with any provisions of this Paragraph 14.2 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee's breach hereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall shall, at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore and reconstruct the Premises within a period of six one hundred twenty (6120) months days after the date of the physical taking, and such restoration and reconstruction shall make the same Premises reasonably tenantable and suitable for the general use being made by lessee Lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s 's leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such the restoration and reconstruction on or before six within one hundred twenty (6120) months days after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken taking, Lessee, in condemnationaddition to any other rights and remedies Lessee may have, Lessee shall have the right to cancel this Lease by prompt notice after such occurrenceLease. If this lease Lease continues in effect after such the physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and reconstruction and during the unexpired portion of the Lease Term.
12.3 14.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct reconstruct, or improve (hereinafter collectively called "Repairs") any part of the Premises, such repairs, alterations, removal reconstruction or improvement then the Repairs may be made by and at the expense of Lessor and shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent the Repairs. If the Repairs shall abate during render the period of Premises untenantable and to if the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved canRepairs are not be reasonably accomplished completed within one hundred eighty twenty (180120) daysdays after the date of the notice, Lessor requirement, order, or decree, either party hereto upon written notice to the other party given not later than one hundred thirty (130) days after the date of the notice, requirement, order, or decree, may at its option terminate this lease by notice Lease, in which case rent shall be apportioned and paid to Lesseethe date the Premises were rendered untenantable; provided, further, provided however that where the requirement by a governmental authority having jurisdiction to repair, alter, remove, reconstruct reconstruct, or improve any part of the Premises arises out of any act of or omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement the Repairs shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this LeaseLease whether or not the completion of the Repairs takes more than one hundred twenty (120) days.
Appears in 1 contract
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one two hundred eighty forty (180240) days of the date of the event causing such the damage, Lessor mayshall and to the extent insurance proceeds therefore are paid by the insurance company, at Lessor’s option, diligently and in good faith and as soon as practicable repair and rebuild the Premises. If Without limiting in any respect the foregoing, Lessor elects and Lessee shall promptly after such casualty and in good faith meet and consult with each other and Lessor shall estimate reasonably the time necessary to restore such Premises to the condition prior to such casualty and Lessor agrees to use good faith and diligent efforts to complete such restoration within such period so reasonably estimated by Lessor. During such repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagerebuilding, this Lease shall remain in full force and effect, but Lessor may to the extent actually and reasonably necessary require Lessee temporarily to temporarily vacate the portions of the Premises so affected by such restoration activities while the same they are being repaired and, subject to the provisions of this Paragraph 12.1Section 14.1, rent shall abate during abatx xxxing this period to the extent that (i) the Premises are untenantableuntenantable (including areas in which Lessee is required to vacate) and cannot be used by Lessee for the purposes contemplated in Section 4 hereof and (ii) an amount equal to such abated rent is paid to Lessor under the insurance policies required in Section 9.1.2 hereof; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. Lessor shall keep Lessee informed as to all aspects of the rebuilding and repair work and shall give Lessee notice of estimated completion dates. If the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one two hundred eighty forty (180240) day periodperiod (or earlier time period estimated by Lessor for completion), Lease Lessee shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If Lessor elects not to repair and rebuild any part of the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park or any part thereof be so is damaged such that repairs and rebuilding cannot reasonably be completed within one two hundred eighty forty (180240) days of the date of the event causing such the damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be by written notice to the other party terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective Effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises (except in all events Base Rent shall abatx xx the extent of any portion of the Premises that are untenantable), removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If a casualty occurs during the last three (3) years of the Lease Term and if Lessor shall fail within fourteen (14) days of such casualty to covenant to restore the Premises, then Lessee shall have the right to terminate this Lease within twenty eight (28) days of such casualty in which event rent shall be abated for the unexpired Lease Term, Effective as of the date of the written notification, but the other terms and conditions of this Lease shall continue and remain in full force and effect until Lessee shall have vacated the Premises (except in all events Base Rent shall abatx xx the extent of any portion of the Premises that are tenantable), removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor, and shall within a reasonable amount of time vacate the Premises. Failure by Lessee or Lessor, as the case may be, to comply with any provision of this Section 14.1 shall subject non-complying party to such costs, expenses, damages, and losses as the other party may incur by reason of non-complying party's breach hereof.
12.2 14.2 In the event the Business Park Premises shall be taken, in whole or in partsuch substantial part that the remaining portion of the Premises cannot be reasonably used by Lessee as contemplated under this Lease, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any such substantial part that the remaining portion thereofof the Premises cannot be reasonably used as contemplated under this Lease, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said the Premises or any portion thereof, then LessorLessor or Lessee, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 10) days days' prior written notice to Lessee the other and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded Additionally, if Lessee reasonably and in connection with any condemnation or good faith determines that such taking of any portion of materially and adversely affects Lessee's ability to use the Premises or as contemplated hereby, Lessee may within fourteen (14) days of such taking terminate this Lease. Lessor and Lessee shall each have the Property, or paid as right with respect to their separate interests to appear and to claim and recover from the purchase price for any conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessorcondemning authority such damages suffered by each party respectively. Lessee shall execute and deliver any instruments as instruments, at the expense of Lessor, that Lessor may deem necessary to expedite any condemnation proceedings or proceedings, to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said landslands and Premises, and Premises or any portion thereof. Lessee shall vacate the Premises, remove all Lessee's personal property therefrom and deliver up peaceable possession thereof . Lessor or to such other party designated by Lessor in the aforementioned notice. Failure by Lessee or Lessor, as the case may be, to comply with any provisions of this Section 14.2 shall subject the non-complying party to such costs, expenses, damages, and losses as the other party may incur by reason of the non-complying party's breach hereof. If Lessor chooses this Lease is not to terminate terminated under this LeaseSection 14.2, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall shall, at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore and reconstruct the Premises within a period of six two hundred ten (6210) months days after the date of the physical taking, and such restoration shall and reconstruction shall-make the same Premises reasonably tenantable and suitable for the general use being made by lessee Lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s leasehold improvements unless and to the extent that Lessor receives an receive any award of or condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such the restoration and reconstruction on or before six two hundred ten (6210) months days after the date of physical taking or if so that the Premises (or so much thereof as would render them untenantable) are taken not reasonably tenantable and suitable for the general use being made by Lessee prior to the taking, Lessee, in condemnationaddition to any other rights and remedies Lessee may have, Lessee shall have the right to cancel this Lease by prompt notice after such occurrenceLease. If this lease Lease continues in effect after such the physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and reconstruction and during the unexpired portion of the Lease Term.
12.3 14.3 In the event Lessor, that during the Lease Term, shall be required by any governmental authority or the order or decree of any court, requires Lessee to repair, alter, remove, reconstruct or improve (herein collectively called "Repairs") any part of the Premises, such repairs, alterations, removal reconstruction or improvement shall not in any way affect then the obligations or covenant of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent shall abate during the period of and Repairs (to the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved cansuch Repairs were not be reasonably accomplished within one hundred eighty (180) days, Lessor may at its option terminate this lease by notice to Lessee; provided, further, that where the requirement by a governmental authority to repair, alter, remove, reconstruct or improve any part result of the Premises arises out of any act of omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement Premises' noncompliance with applicable laws in effect at the Commencement Date) shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, not be any abatement of rent. If such Repairs relate to the structure of the Building, then Lessor in good faith and diligently shall perform such Repairs and there shall be no abatement of rent nor any right in Lessee and Lessor shall use good faith efforts so as not to terminate this Leaseunreasonably interfere with Lessee's use of the Premises.
Appears in 1 contract
Samples: Lease (Melita International Corp)
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, Lessor may, at Lessor’s 's option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee temporarily to temporarily vacate the Premises while the same they are being repaired and, subject to the provisions of this Paragraph 12.114.1, rent shall abate during abatx xxxing this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty twenty (180120) day period, Lease Lessee shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be by written notice to the other party Lessee terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessees personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Paragraph 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee's breach hereof.
12.2 14.2 In the event the Business Park Building shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said Premises the Premises, the Property or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten twenty (10 20) days days' prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of for the Premises or the Propertytaking, or paid as the purchase price for any the sale and conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor; provided, however, Lessee shall have the sole right to reclaim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee's own right on account of any and all costs or loss (including loss of business) to which Lessee might be put in removing Lessee's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location. Lessee shall execute and deliver any instruments as instruments, at the expense of Lessor, that Lessor may deem necessary to expedite any condemnation proceedings or proceedings, to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said landslands and Premises, and Premises or any portion thereof. Lessee shall vacate the Premises, remove all Lessee's personal property therefrom and deliver up peaceable possession thereof to Lessor or to such other party designated by Lessor in the aforementioned notice. Failure by Lessee to comply with any provisions of this Paragraph 14.2 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee's breach hereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall shall, at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore and reconstruct the Premises within a period of six one hundred twenty (6120) months days after the date of the physical taking, and such restoration and reconstruction shall make the same Premises reasonably tenantable and suitable for the general use being made by lessee Lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s 's leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such the restoration and reconstruction on or before six within one hundred twenty (6120) months days after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken taking, Lessee, in condemnationaddition to any other rights and remedies Lessee may have, Lessee shall have the right to cancel this Lease by prompt notice after such occurrenceLease. If this lease Lease continues in effect after such the physical taking, the rent payable hereunder thereunder shall be equitably adjusted both during the period of restoration operations of Lessor and reconstruction and during the unexpired portion of the Lease Term.
12.3 14.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct reconstruct, or improve (hereinafter collectively called "Repairs") any part of the Premises, such repairs, alterations, removal reconstruction or improvement then the Repairs may be made by and at the expense of Lessor and shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent the Repairs. If the Repairs shall abate during render the period of Premises untenantable and to if the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved canRepairs are not be reasonably accomplished completed within one hundred eighty twenty (180120) daysdays after the date of the notice, Lessor requirement, order, or decree, either party hereto upon written notice to the other party given not later than one hundred thirty (130) days after the date of the notice, requirement, order, or decree, may at its option terminate this lease by notice Lease, in which case rent shall be apportioned and paid to Lesseethe date the Premises were rendered untenantable; provided, further, provided however that where the requirement by a governmental authority having jurisdiction to repair, alter, remove, reconstruct reconstruct, or improve any part of the Premises arises out of any act of or omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement the Repairs shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, event be any abatement of rent nor any right in Lessee to terminate this LeaseLease whether or not the completion of the Repairs takes more than one hundred twenty (120) days.
Appears in 1 contract
Samples: Sublease (Towne Services Inc)
Damage and Condemnation. 12.1 In Subject to the event during rights of any Facility Mortgagee, if the Lease Term the Premises are damage by fire Leased Property or other casualtyany material portion thereof is condemned, but destroyed or materially damaged, Landlord will determine whether or not to such an extent restore or replace the Leased Property to a condition at least substantially comparable to that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of before the date of the event causing such damagecasualty or condemnation occurred. Landlord will notify Tenant, Lessor may, at Lessor’s option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days after the occurrence of said damagethe condemnation, this Lease shall remain destruction or material damage in full force and effectquestion of its election of whether or not to cause restoration/replacement to be undertaken. If Landlord does not notify Tenant in writing within such period that Landlord has elected to restore or replace the Leased Property to a condition at least substantially comparable to that before the casualty or condemnation occurred, or if Landlord does provide such notice within such period, but Lessor subsequently fails to prosecute such restoration or replacement with reasonable diligence continuously until completion, then Tenant may require Lessee terminate this Agreement ninety (90) days following written notice to temporarily vacate Landlord and an opportunity to complete restoration. To the Premises while extent that conduct of the same are being repaired andGaming Operations is rendered impossible or commercially impracticable by virtue of casualty or condemnation, subject then, for so long as such operation is impossible or commercially impracticable, Tenant’s obligations to operate the provisions Gaming Operations hereunder, as well as accrual of this Paragraph 12.1Rent, rent will be suspended. Any such period of suspension will not be deemed to have been part of the Term and the date of expiration of the Term shall abate during this period be extended by the number of days of such period. To the extent that Tenant’s use and occupancy of the Leased Property is impaired but Gaming Operations remain possible, Tenant’s obligations to operate the Gaming Operations will continue, but Rent will be abated to the extent that the Premises are untenantable; provixxx, however, that Lessor shall Leased Property is not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty (180) day period, Lease shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such written notification, but the other terms hereof shall remain in full force and effect. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be written notice to the other party terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such written notification, but the other terms hereof shall remain in full force and effectusable.
12.2 In the event the Business Park shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority , agency, body or public utility, seeking to take said Premises or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 ) days prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of the Premises or the Property, or paid as the purchase price for any conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor. Lessee shall execute and deliver any instruments as Lessor may deem necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands, and Premises or any portion thereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore the Premises within a period of six (6) months after the date of the physical taking, and such restoration shall make the same reasonably tenantable and suitable for the general use being made by lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such restoration and reconstruction on or before six (6) months after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken in condemnation, Lessee shall have the right to cancel this Lease by prompt notice after such occurrence. If this lease continues in effect after such physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and during the unexpired portion of the Lease Term.
12.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct or improve any part of the Premises, such repairs, alterations, removal reconstruction or improvement shall not in any way affect the obligations or covenant of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent shall abate during the period of and to the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved cannot be reasonably accomplished within one hundred eighty (180) days, Lessor may at its option terminate this lease by notice to Lessee; provided, further, that where the requirement by a governmental authority to repair, alter, remove, reconstruct or improve any part of the Premises arises out of any act of omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement shall be effected promptly at the sole cost and expense of Lessee, and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this Lease.
Appears in 1 contract
Samples: Casino Lease (Bref Hr, LLC)
Damage and Condemnation. 12.1 14.1 The risk of physical loss to the Property shall be borne by Seller prior to the close of escrow and by Buyer thereafter. In the event during that the Lease Term the Premises are damage Property shall be damaged by fire fire, flood, earthquake or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such damage, Lessor may, at Lessor’s option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damage, this Lease shall remain in full force and effect, but Lessor may require Lessee to temporarily vacate the Premises while the same are being repaired and, subject to the provisions of this Paragraph 12.1, rent shall abate during this period casualty to the extent that the Premises are untenantable; provixxxcost to repair or restore such damage will exceed five percent (5%) of the Total Price, howeverBuyer may, that Lessor shall at its option, elect not be liable to Lessee for any damage or expense which temporarily vacating acquire the Premises may cause Lessee. If the Premises are not repaired, rebuilt or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty (180) day period, Lease shall have the rightProperty, by written notice to LessorSeller within twenty (20) days after the date upon which such damage or other casualty occurs. If Buyer does not give such notice, Buyer shall be deemed to have elected to proceed with the purchase and shall close thereon, at which xxxx Xxxxxx shall assign to Buyer all of Seller's interests in all insurance proceeds (if any) relating to such damage. In the event that such damage occurs and Buyer elects not to purchase the Property, then the escrow and this Agreement shall be terminated.
14.2 If the cost to repair any such damage to the Property will not exceed five percent (5%) of the Total Price, then Buyer shall not have a right to elect not to acquire the Property by reason thereof, but at Buyer's option, to terminate this Leasebe exercised by written notice to Seller within twenty (20) days after the date upon which such damage occurs, Seller shall either (i) assign to Buyer at the closing Seller's interests in which event rent shall be abated all insurance proceeds (if any) relating to such damage, or (ii) retain all insurance proceeds (if any), and administer the expenditure thereof for the unexpired Lease Termpurpose of restoring and repairing such damage prior to the close of escrow, effective as of with the closing delayed until such restoration and repair is complete, but in no event shall Seller be obligated to expend more than the insurance proceeds actually available to Seller in order to complete such restoration and repair, and in no event shall the closing be extended by more than sixty (60) days, at which xxxx Xxxxxx shall assign to Buyer at the closing all then unexpended insurance proceeds (if any) and Buyer shall accept the Property in its condition existing on the date of such written notification, but the other terms hereof shall remain in full force and effect. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be written notice to the other party terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such written notification, but the other terms hereof shall remain in full force and effectclosing.
12.2 14.3 In the event the Business Park shall be takenthat, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, prior to the close of escrow, any governmental or other public authority , agency, body or public utility, seeking agency shall commence any action in eminent domain to take said Premises or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 ) days prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of the Premises or Property, Buyer shall have the option either to (i) elect not to acquire the Property, or paid as (ii) complete the purchase price for any conveyance acquisition of the Property in lieu which case Buyer shall be entitled to all of formal condemnation proceedingsthe proceeds of such taking, whether for the fee or the leasehold interest, shall belong such election to and be the property of Lessor. Lessee shall execute and deliver any instruments as Lessor may deem necessary made by written notice to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands, and Premises or any portion thereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore the Premises Seller within a period of six twenty (620) months days after the date upon which Buyer receives notice of the physical taking, and commencement of such restoration shall make the same reasonably tenantable and suitable for the general use being made by lessee prior governmental action. Buyer's failure to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for give such improvements. Notwithstanding the foregoing, if Lessor has not completed such restoration and reconstruction on or before six (6) months after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken in condemnation, Lessee shall have the right to cancel this Lease by prompt notice after such occurrence. If this lease continues in effect after such physical taking, the rent payable hereunder shall be equitably adjusted both during deemed to constitute an election by Buyer to complete the period of restoration operations of Lessor and during the unexpired portion acquisition of the Lease TermProperty.
12.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct or improve any part of the Premises, such repairs, alterations, removal reconstruction or improvement shall not in any way affect the obligations or covenant of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent shall abate during the period of and to the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved cannot be reasonably accomplished within one hundred eighty (180) days, Lessor may at its option terminate this lease by notice to Lessee; provided, further, that where the requirement by a governmental authority to repair, alter, remove, reconstruct or improve any part of the Premises arises out of any act of omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement shall be effected promptly at the sole cost and expense of Lessee, and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this Lease.
Appears in 1 contract
Damage and Condemnation. 12.1 In If the event Premises, 00 Xxxxxx Xxxxx Building or ----------------------- an adjacent Outside Area suffers damage from any peril during the Lease Term term of this Sublease, then Sublandlord shall promptly restore such area to its original condition (other than improvements made by Subtenant), unless (i) such damage is caused by Subtenant's willful act; (ii) such damage occurs within one year of the end of the term and would take more than sixty (60) days to repair and Subtenant elects to terminate this Sublease by giving Sublandlord notice of such election within thirty (30) days after such damage; (iii) Sublandlord's insurance proceeds are not sufficient to pay for the estimated cost of restoration and Sublandlord does not elect to pay the shortfall, in which case either party can elect to terminate this Sublease on thirty (30) day's written notice to the other, or (iv) the Premises are damage by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed restored within one hundred eighty (180) days of the date of the event causing such damage, Lessor may, at Lessor’s option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises in which said notice shall be given to Lesssee within sixty (60) days of said damage, this Lease shall remain in full force and effect, but Lessor may require Lessee to temporarily vacate the Premises while the same are being repaired and, subject to the provisions of this Paragraph 12.1, rent shall abate during this period to the extent that the Premises are untenantable; provixxx, however, that Lessor shall not be liable to Lessee for any damage case Sublandlord or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty (180) day period, Lease shall have the right, by written notice to Lessor, Subtenant can elect to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such written notification, but the other terms hereof shall remain in full force and effect. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty Sublease on thirty (6030) days or if the Business Park or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be day's written notice to the other party terminate other. In the event this Lease in which event rent Sublease is not terminated, then Subtenant shall he responsible for the restoration of any of its own improvements to the extent of available insurance proceeds and Rent shall be abated for during the unexpired Lease Term, effective as restoration to the extent Subtenant's access or use of the date of such written notification, but Premises is impaired by the other terms hereof damage or restoration. Sublandlord shall remain in full force and effect.
12.2 have no obligation to restore Subtenant's improvements or personal property on the Premises. In the event the Business Park shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority , agency, body or public utility, seeking to take said Premises or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 ) days prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or a taking of any portion of the Premises, the 00 Xxxxxx Xxxxx Building or an adjacent Outside Area in eminent domain occurs during the term of this Sublease such that there is a material alteration to Subtenant's access to or use of the Premises, and in Sublandlord's and Subtenant's mutual and reasonable opinion the Premises or the Property, or paid as the purchase price is not suitable for any conveyance in lieu of formal condemnation proceedings, whether Subtenant's continued occupancy for the fee or the leasehold interestuses permitted by this Sublease, shall belong to and be the property of Lessor. Lessee shall execute and deliver any instruments as Lessor may deem necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands, and Premises or any portion thereof. If Lessor chooses not then either party can elect to terminate this LeaseSublease within thirty (30) days after notice of the event. If the Sublease is not so terminated, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor Rent shall at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore the Premises within a period of six (6) months after the date of the physical taking, and such restoration shall make the same reasonably tenantable and suitable for the general use being made by lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s leasehold improvements unless and be abated to the extent that Lessor receives an award Subtenant's access to or use of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such restoration and reconstruction on or before six (6) months after the date of physical taking or if the Premises (is impaired by such condemnation or so much thereof as would render them untenantable) are taken in condemnation, Lessee shall have the right to cancel this Lease by prompt notice after such occurrencerestoration. If this lease continues in effect after such physical taking, the rent payable hereunder Any condemnation award shall be equitably adjusted both during the period of restoration operations of Lessor and during the unexpired portion of the Lease Term.
12.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, paid to repair, alter, remove, reconstruct or improve any part of the Premises, such repairs, alterations, removal reconstruction or improvement shall not in any way affect the obligations or covenant of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, Sublandlord except that rent shall abate during the period of and to the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved cannot be reasonably accomplished within one hundred eighty (180) days, Lessor may at its option terminate this lease by notice to Lessee; provided, further, that where the requirement by a governmental authority to repair, alter, remove, reconstruct award is for Subtenant's own improvements or improve any part of the Premises arises out of any act of omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement shall be effected promptly at the sole cost and expense of Lessee, and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this Leaserelocation costs.
Appears in 1 contract
Samples: Sublease (Xpeed Networks Inc)
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot can reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, Lessor may, at Lessor’s option's option within sixty (60) days of such event, elect to repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee temporarily to temporarily vacate the Premises while the same they are being repaired and, subject to the provisions of this Paragraph 12.1Section 14.1, rent shall abate xxxxx during this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty twenty (180120) day period, Lease Lessee shall have the right, by written notice to LessorLessor within ten (10) days of such period, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If within the aforesaid sixty (60) day period Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that the Premises are untenantable and in Lessor's reasonable opinion, which shall be given to Lessee within thirty (30) days of such casualty, the repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, which said notice shall be given to Lessee then within sixty fourteen (6014) days of Lessee's receipt of Lessor's opinion that such rebuilding cannot be completed within one hundred twenty (120) days, Lessor or Lessee may be by seven (7) days' written notice to the other party terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Section 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee'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 gross negligence or wilfull misconduct of Lessee or any of the Lessee Parties, Lessee shall be fully responsible, to the extent not covered by insurance, for repairing, restoring, or paying for the damage as Lessor shall direct and this Lease shall remain in full force and effecteffect without reduction or abatement of rent.
12.2 14.2 In the event the Business Park Building shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said Premises the Premises, the Property or any substantial portion thereofthereof which would materially adversely affect Lessee's use and occupancy of the Building, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten twenty (10 20) days days' prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. Lessor shall notify Lessee of the commencement of any such condemnation proceeding within fourteen (14) days of Lessor's becoming aware of the same. All damages or other sums awarded in connection with any condemnation or taking of any portion of for the Premises or the Propertytaking, or paid as the purchase price for any the sale and conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor; provided, however, Lessee shall have the sole right to reclaim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee's own right on account of any and all costs or loss (including loss of business) to which Lessee might be put in removing Lessee's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location. Lessee shall execute and deliver any instruments as instruments, at the expense of Lessor, that Lessor may deem necessary to expedite any condemnation proceedings or proceedings, to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said landslands and Premises, and Premises or any portion thereof. Lessee shall vacate the Premises, remove all Lessee's personal property therefrom and deliver up peaceable possession thereof to Lessor or to such other party designated by Lessor in the aforementioned notice. Failure by Lessee to comply with any provisions of this Section 14.2 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee's breach hereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall shall, at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore and reconstruct the Premises within a period of six one hundred twenty (6120) months days after the date of the physical taking, and such restoration and reconstruction shall make the same Premises reasonably tenantable and suitable for the general use being made by lessee Lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s 's leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such the restoration and reconstruction on or before six within one hundred twenty (6120) months days after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken taking, Lessee, in condemnationaddition to any other rights and remedies Lessee may have, Lessee shall have the right to cancel this Lease by prompt notice after such occurrenceLease. If this lease Lease continues in effect after such the physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and reconstruction and during the unexpired portion of the Lease Term.
12.3 14.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct reconstruct, or improve (hereinafter collectively called "Repairs") any part of the Premises, such repairs, alterations, removal reconstruction or improvement then the Repairs may be made by and at the expense of Lessor (unless resulting from alterations made by Lessee) and shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent the Repairs. If the Repairs shall abate during render the period of Premises untenantable and to if the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved canRepairs are not be reasonably accomplished completed within one hundred eighty twenty (180120) daysdays after the date of the notice, Lessor requirement, order, or decree, either party hereto upon written notice to the other party given not later than one hundred thirty (130) days after the date of the notice, requirement, order, or decree, may at its option terminate this lease by notice Lease, in which case rent shall be apportioned and paid to Lesseethe date the Premises were rendered untenantable; provided, further, provided however that where the requirement by a governmental authority having jurisdiction to repair, alter, remove, reconstruct reconstruct, or improve any part of the Premises arises out of any act of or omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement the Repairs shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this LeaseLease whether or not the completion of the Repairs takes more than one hundred twenty (120) days.
Appears in 1 contract
Samples: Lease (Clarus Corp)
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot can reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, Lessor may, at Lessor’s option's option within sixty (60) days of such event, elect to repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee temporarily to temporarily vacate the Premises while the same they are being repaired and, subject to the provisions of this Paragraph 12.1Section 14.1, rent shall abate during abatx xxxing this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty twenty (180120) day period, Lease Lessee shall have the right, by written notice to LessorLessor within ten (10) days of such period, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If within the aforesaid sixty (60) day period Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that the Premises are untenantable and in Lessor's reasonable opinion, which shall be given to Lessee within thirty (30) days of such casualty, the repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, which said notice shall be given to Lessee then within sixty fourteen (6014) days of Lessee's receipt of Lessor's opinion that such rebuilding cannot be completed within one hundred twenty (120) days, Lessor or Lessee may be by seven (7) days' written notice to the other party terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Section 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee'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 Lessee or any of the Lessee Parties, Lessee shall be fully responsible, to the extent not covered by insurance, for repairing, restoring, or paying for the damage as Lessor shall direct and this Lease shall remain in full force and effecteffect without reduction or abatement of rent.
12.2 14.2 In the event the Business Park Building shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said Premises the Premises, the Property or any substantial portion thereofthereof which would materially adversely affect Lessee's use and occupancy of the Building, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 10) days days' prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. Lessor shall notify Lessee of the commencement of any such condemnation proceeding within fourteen (14) days of Lessor's becoming aware of the same. All damages or other sums awarded in connection with any condemnation or taking of any portion of for the Premises or the Propertytaking, or paid as the purchase price for any the sale and conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor. Lessee shall execute and deliver any instruments as Lessor may deem necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands, and Premises or any portion thereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore the Premises within a period of six (6) months after the date of the physical taking, and such restoration shall make the same reasonably tenantable and suitable for the general use being made by lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such restoration and reconstruction on or before six (6) months after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken in condemnation, Lessee shall have the right to cancel this Lease by prompt notice after such occurrence. If this lease continues in effect after such physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and during the unexpired portion of the Lease Term.of
12.3 14.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any courtcourt due to a change in applicable laws or ordinances occurring after the Commencement Date, to repair, alter, remove, reconstruct reconstruct, or improve (herein collectively called "Repairs") any part of the Premises, such repairs, alterations, removal reconstruction or improvement then the Repairs may be made by and at the expense of Lessor and shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of the Repairs, unless such repairsRepairs materially adversely interfere with Lessee's use and occupancy of the Premises so as to render the Premises completely unfit for Lessee's use and occupancy for a period of thirty (30) consecutive business days, alterations, removal, reconstruction or improvement, except that rent shall abate during in which case Lessee may as its sole and exclusive remedy have the Base Rent abated for the period of during which the Premises is unfit for Lessee's use and to occupancy after such thirty (30) days. If the extent of untenantability; provided, Repairs shall render the Premises untenantable and if Lexxxx reasonably concludes that the work involved canRepairs are not be reasonably accomplished completed within one hundred eighty (180) daysdays after the date of the notice, Lessor requirement, order, or decree, either party hereto upon written notice to the other party given not later than one hundred ninety (190) days after the date of the notice, requirement, order, or decree, may at its option terminate this lease by notice Lease, in which case rent shall be apportioned and paid to Lesseethe date the Premises were rendered untenantable; provided, further, provided however that where the requirement by a governmental authority having jurisdiction to repair, alter, remove, reconstruct reconstruct, or improve any part of the Premises arises out of any act of or omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement the Repairs shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this LeaseLease whether or not the completion of the Repairs takes more than one hundred eighty (180) days.
Appears in 1 contract
Samples: Lease Agreement (Harbinger Corp)
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one two hundred eighty ten (180210) days of the date of the event causing such the damage, Lessor may, at Lessor’s 's option, and to the extent insurance proceeds therefore are available, diligently repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice Premises, Lessor shall be given to Lesssee so notify Lessee within sixty thirty (6030) days of said damageafter such fire or other casualty, and this Lease shall remain in full force and effect, but Lessor may require Lessee to temporarily vacate the Premises while the same are being repaired and, subject to the provisions of this Paragraph 12.1Section 14.1, and rent shall abate xxxxx during this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If Lessor may require Lessee temporarily to vacate the Premises while they are being repaired and all rent shall xxxxx during such time to the extent that Lessee actually vacates the Building. If a portion of the Premises that is necessary for Lessee to operate and use the Premises for the Allowed Uses is rendered untenantable by virtue of such fire or other casualty, Lessee may xxxxx rent as to the entire Premises until such portion has been restored and repaired. If Lessor has not repairednotified Lessee of its election to rebuild the Premises within thirty (30) days after such fire or casualty, rebuilt or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty (180) day period, Lease shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty (180) days of the date of the event causing such the damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be by written notice to the other party Lessee terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Section 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee'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 Lessee or any of the Lessee Parties, Lessee shall be fully responsible, to the extent not covered by insurance, for repairing, restoring, or paying for the damage as Lessor shall direct and this Lease shall remain in full force and effecteffect without reduction or abatement of rent. Notwithstanding the preceding provisions of this Section 14.1, if on the date that such fire or other casualty occurs there are at least three (3) years remaining in the Lease Term, excluding unexercised extension options, and if such repairs and rebuilding can reasonably be completed within such two hundred ten (210) day period, as determined by Lessor's architect, then Lessee may elect to cause Lessor to diligently rebuild the Premises as provided above.
12.2 14.2 In the event the Business Park Premises shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said the Premises or any portion thereofthereof which Lessor and Lessee mutually agree will materially and adversely affect Lessee's ability to operate the Premises for the Allowed Uses, then Lessor, at its option, may terminate this Lease as upon delivery by Lessor of written notice to Lessee within fourteen (14) days after Lessor's receipt of written notice of such sale from the date possession is taken by the appropriate condemning authority upon or other governmental authority, which shall in no event be less than ten (10 10) days days' prior written notice to Lessee Lessee, and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of for the Premises or the Propertytaking, or paid as the purchase price for any the sale and conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor; provided, however, Lessee shall have the sole right to reclaim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee's own right on account of any and all costs or loss (including loss of business) to which Lessee might be put in removing Lessee's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location. Lessee shall execute and deliver any instruments as instruments, at the expense of Lessor, that Lessor may deem necessary to expedite any condemnation proceedings or proceedings, to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said landslands and Premises, and Premises or any portion thereof. Lessee shall vacate the Premises, remove all Lessee's personal property therefrom and deliver up peaceable possession thereof to Lessor or to such other party designated by Lessor in the aforementioned notice. Failure by Lessee to comply with any provisions of this Section 14.2 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee's breach hereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall shall, at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore and reconstruct the Premises within a period of six one hundred eighty (6180) months days after the date of the physical taking, and such restoration and reconstruction shall make the same Premises reasonably tenantable and suitable for the general use being made by lessee Lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such the restoration and reconstruction on or before six one hundred eighty (6180) months days after the date of physical taking or if so that the Premises (or so much thereof as would render them untenantable) are taken not reasonably tenantable and suitable for the general use being made by Lessee prior to the taking, Lessee, in condemnationaddition to any other rights and remedies Lessee may have, Lessee shall have the right to cancel this Lease by prompt notice after such occurrenceLease. If this lease Lease continues in effect after such the physical taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and reconstruction and during the unexpired portion of the Lease Term.
12.3 14.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct reconstruct, or improve (herein collectively called "Repairs") any part of the Premises, such repairs, alterations, removal reconstruction or improvement then the Repairs may be made by and at the expense of Lessor and shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent the Repairs. If the Repairs shall abate during render the period of Premises untenantable and to if the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved canRepairs are not be reasonably accomplished completed within one hundred eighty (180) daysdays after the date of the notice, Lessor requirement, order, or decree, either party hereto upon written notice to the other party given not later than one hundred ninety (190) days after the date of the notice, requirement, order, or decree, may at its option terminate this lease by notice Lease, in which case rent shall be apportioned and paid to Lesseethe date the Premises were rendered untenantable; provided, further, provided however that where the requirement by a governmental authority having jurisdiction to repair, alter, remove, reconstruct reconstruct, or improve any part of the Premises arises out of any act of omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement the Repairs shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this LeaseLease whether or not the completion of the Repairs takes more than one hundred eighty (180) days. In the event such repairs render the Premises or any portion thereof untenantable, then rent shall xxxxx as to the extent that the Premises are untenantable, provided that if the portion of the Premises that is rendered untenantable is necessary for Lessee to operate and use the Premises for the Allowed Uses, then Lessee may xxxxx rent as to the entire Premises until such portion of the Premises is rendered tenantable.
14.4 If Lessor is required to or elects to make any of the repairs or restorations to the Premises pursuant to this Section 14, Lessor shall perform such repairs or restorations substantially in accordance with the Plans, or substantially in accordance with other plans and specifications mutually approved by Lessor and Lessee.
Appears in 1 contract
Damage and Condemnation. 12.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such damage, Lessor may, at Lessor’s 's option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee to temporarily vacate the Premises while the same are being repaired and, subject to the provisions of this Paragraph 12.1, rent shall abate during abatx xxxing this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty twenty (180120) day period, Lease Lessee shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such written notification, but the other terms hereof shall remain in full force and effect. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be by written notice to the other party Lessee terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such written notification, but the other terms hereof shall remain in full force and effect.
12.2 In the event the Business Park Building shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body or public utility, seeking to take said Premises or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 10) days prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of the Premises or the Property, or paid as the purchase price for any conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor. Lessee shall execute and deliver delivery any instruments as Lessor may deem necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands, lands and Premises or any portion thereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore the Premises within a period of six twelve (612) months after the date of the physical taking, and such restoration shall make the same reasonably tenantable and suitable for the general use being made by lessee Lessee prior to the taking; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s 's leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such restoration and reconstruction on or before six twelve (612) months after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken in condemnation, Lessee shall have the right to cancel this Lease by prompt notice after such occurrence. If this lease continues in effect after such physical 7 8 taking, the rent payable hereunder shall be equitably adjusted both during the period of restoration operations of Lessor and during the unexpired portion of the Lease Term.
12.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct or improve any part of the Premises, such repairs, alterations, removal reconstruction or improvement shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent shall abate during abatx xxxing the period of and to the extent of untenantability; provided, if Lexxxx Lessor reasonably concludes that the work involved cannot be reasonably accomplished within one hundred eighty (180) days, Lessor may at its option terminate this lease by notice to Lessee; provided, further, that where the requirement by a governmental authority to repair, alter, remove, reconstruct or improve any part of the Premises arises out of any act of omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement shall be effected promptly at the sole cost and expense of Lessee, and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this Lease.
Appears in 1 contract
Samples: Lease Agreement (Vanstar Corp)
Damage and Condemnation. 12.1 14.1 In the event during the Lease Term the Premises are damage damaged by fire or other casualty, but not to such an extent that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, Lessor may, at Lessor’s 's option, repair and rebuild the Premises. If Lessor elects to repair and rebuild the Premises which said notice shall be given to Lesssee within sixty (60) days of said damagePremises, this Lease shall remain in full force and effect, but Lessor may require Lessee temporarily to temporarily vacate the Premises while the same they are being repaired and, subject to the provisions of this Paragraph 12.114.1, rent shall abate during abatx xxxing this period to the extent that the Premises are untenantable; provixxxprovided, however, that Lessor shall not be liable to Lessee for any damage or expense which temporarily vacating the Premises may cause Lessee. If the Premises are not repaired, rebuilt rebuilt, or otherwise made suitable for occupancy by Lessee within the aforesaid one hundred eighty twenty (180120) day period, Lease Lessee shall have the right, by written notice to Lessor, to terminate this Lease, in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effecteffect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. If Lessor elects not to repair and rebuild the Premises said notice shall be given to Lessee within sixty (60) days or if the Business Park Building or any part thereof be so damaged that repairs and rebuilding cannot reasonably be completed within one hundred eighty twenty (180120) days of the date of the event causing such the damage, which said notice shall be given to Lessee within sixty (60) days of Lessor or Lessee may be by written notice to the other party Lessee terminate this Lease in which event rent shall be abated for the unexpired Lease Term, effective as of the date of such the written notification, but the other terms hereof and conditions of this Lease shall continue and remain in full force and effect until Lessee shall have vacated the Premises, removed all Lessee's personal property therefrom and delivered peaceable possession thereof to Lessor. Failure by Lessee to comply with any provision of this Paragraph 14.1 shall subject Lessee to such costs, expenses, damages, and losses as Lessor may incur by reason of Lessee'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 Lessee or any of the Lessee Parties, Lessee shall be fully responsible, to the extent not covered by insurance, for repairing, restoring, or paying for the damage as Lessor shall direct and this Lease shall remain in full force and effecteffect without reduction or abatement of rent.
12.2 14.2 In the event the Business Park Building shall be taken, in whole or in part, by condemnation or the exercise of the right of eminent domain, or if in lieu of any formal condemnation proceedings or actions, if any, Lessor shall sell and convey the Premises, or any portion thereof, to the governmental or other public authority authority, agency, body body, or public utility, seeking to take said Premises the Premises, the Property or any portion thereof, then Lessor, at its option, may terminate this Lease as of the date possession is taken by the condemning authority upon ten (10 10) days days' prior written notice to Lessee and prepaid rent shall be proportionately refunded from the date of possession by the condemning authority. All damages or other sums awarded in connection with any condemnation or taking of any portion of for the Premises or the Propertytaking, or paid as the purchase price for any the sale and conveyance in lieu of formal condemnation proceedings, whether for the fee or the leasehold interest, shall belong to and be the property of Lessor; provided, however, Lessee shall have the sole right to reclaim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee's own right on account of any and all costs or loss (including loss of business) to which Lessee might be put in removing Lessee's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location. Lessee shall execute and deliver any instruments as instruments, at the expense of Lessor, that Lessor reasonably may deem necessary to expedite any condemnation proceedings or proceedings, to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said landslands and Premises, and Premises or any portion thereof. Lessee shall vacate the Premises, remove all Lessee's personal property therefrom and deliver up peaceable possession thereof to Lessor or to such other party designated by Lessor in the aforementioned notice. Failure by Lessee to comply with any provisions of this Paragraph 14.2 shall subject Lessee to such costs, expenses, damages, and losses as Lessor reasonably may incur by reason of Lessee's breach hereof. If Lessor chooses not to terminate this Lease, then to the extent and availability of condemnation proceeds received by Lessor and subject to the rights of any mortgagee thereto, Lessor shall shall, at the sole cost and expense of Lessor and with due diligence and in a good and workmanlike manner, restore and reconstruct the Premises within a period of six one hundred twenty (6120) months days after the date of the physical taking, and such restoration and reconstruction shall make the same Premises reasonably tenantable and suitable for the general use being made by lessee Lessee prior to the taking and shall restore the Premises to its condition immediately prior to the taking, reasonable wear and tear expected; provided, however, that Lessor shall have no obligation to restore and reconstruct Lessee’s 's leasehold improvements unless and to the extent that Lessor receives an award of condemnation proceeds specifically designated as compensation for such improvements. Notwithstanding the foregoing, if Lessor has not completed such the restoration and reconstruction on or before six within one hundred twenty (6120) months days after the date of physical taking or if the Premises (or so much thereof as would render them untenantable) are taken taking, Lessee, in condemnationaddition to any other rights and remedies Lessee may have, Lessee shall have the right to cancel this Lease by prompt notice after such occurrenceLease. If this lease Lease continues in effect after such the physical taking, the rent payable hereunder shall be equitably adjusted in proportion to the percentage of the Premises taken or rendered unusable as a result of such taking, both during the period of restoration operations of Lessor and reconstruction and during the unexpired portion of the Lease Term.
12.3 14.3 In the event Lessor, during the Lease Term, shall be required by any governmental authority or the order or decree of any court, to repair, alter, remove, reconstruct reconstruct, or improve (hereinafter collectively called "Repairs") any part of the Premises, such repairs, alterations, removal reconstruction or improvement then the Repairs may be made by and at the expense of Lessor and shall not in any way affect the obligations or covenant covenants of Lessee herein contained, and Lessee hereby waives all claims for damages or abatement of rent because of such repairs, alterations, removal, reconstruction or improvement, except that rent the Repairs. If the Repairs shall abate during render the period of Premises untenantable and to if the extent of untenantability; provided, if Lexxxx reasonably concludes that the work involved canRepairs are not be reasonably accomplished completed within one hundred eighty twenty (180120) daysdays after the date of the notice, Lessor requirement, order, or decree, either party hereto upon written notice to the other party given not later than one hundred thirty (130) days after the date of the notice, requirement, order, or decree, may at its option terminate this lease by notice Lease, in which case rent shall be apportioned and paid to Lesseethe date the Premises were rendered untenantable; provided, further, provided however that where the requirement by a governmental authority having jurisdiction to repair, alter, remove, reconstruct reconstruct, or improve any part of the Premises arises out of any act of or omission or commission by Lessee, then such repair, alteration, removal, reconstruction or improvement the Repairs shall be effected promptly at the sole cost and expense of Lessee, Lessee and there shall not, in any event, be any abatement of rent nor any right in Lessee to terminate this LeaseLease whether or not the completion of the Repairs takes more than one hundred twenty (120) days.
Appears in 1 contract
Samples: Lease (Nfront Inc)
