Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 6 contracts
Samples: Lease Agreement, Washington Lease Agreement, Lease Agreement
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord’s obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Premises or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of Tenant’s personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant’s liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 6 contracts
Samples: To Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.), To Lease (Radiation Therapy Services Holdings, Inc.)
Damage and Destruction. If the Leased Premises are hereafter damaged or any part thereof destroyed or any appurtenance thereto rendered partially untenantable for their permitted use by fire or other casualty insured under the coverage which Landlord is so damaged by fireobligated to carry pursuant to Section 11.1 hereof, casualty or structural defects that Landlord shall promptly repair the same canto substantially the condition which they were in immediately prior to the happening of such casualty (excluding stock in trade, fixtures, furniture, furnishings, carpeting, floor covering, wall covering, drapes and equipment), and from the date of such casualty until the Premises are so repaired and restored, only the Minimum Monthly Rent payments payable hereunder shall xxxxx in such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises; PROVIDED, HOWEVER, that Landlord shall not be used obligated to repair and restore if such casualty is not covered by the insurance which Landlord is obligated to carry pursuant to Section 11.1 hereof or is caused directly or indirectly by the negligence of Tenant, its agents, and employees and in either of such events, no portion of the Minimum Monthly Rent and other payments payable hereunder shall xxxxx, and PROVIDED, FURTHER, that Landlord shall not be obligated to expend for Lessee’s purposesany repair or restoration an amount in excess of the insurance proceeds received by Landlord therefor, and provided, further, that if the Premises be damaged, destroyed or rendered untenantable for their accustomed uses by fire or other casualty to the extent of more than fifty percent (50%) of the cost to replace the Premises during the last three (3) years of the Lease Term, then Lessee Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damagecasualty by giving to Tenant, within sixty (60) days after the happening of such casualty, written notice of such termination. In making If such notice be given, this Lease shall terminate, and Landlord shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the date of such casualty. Any time that Landlord repairs called or restores the Premises after damage or destruction, then Tenant shall promptly repair or replace its stock in trade, fixtures, furnishings, furniture, carpeting, wall covering, floor covering, drapes, equipment, and Premises to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Notwithstanding anything to the contrary set forth herein, in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials the event all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term Center shall be damaged or destroyed by fire or other cause (notwithstanding that the Leased Premises are inoperable may be unaffected thereby), to the extent the cost of restoration thereof would exceed fifteen percent (15%) of the amount it would have cost to replace the Center in its entirety at the time such damage or unfit for occupancydestruction occurred, or usethen Landlord may terminate this Lease by giving Tenant thirty (30) days prior notice of Xxxxxxxx’s election to do so, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which notice shall be credited on the next ensuing paymentsgiven, if anyat all, but if no further payments are to be made, any within ninety (90) days following the date of such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageoccurrence. In the event of minor damage to any part the termination of the Leased Premisesthis Lease as aforesaid, and if this Lease shall cease thirty (30) days after such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises notice is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessorgiven, and the party or parties causing said damage. Any damage rent and other charges hereunder shall be adjusted as of that is not covered by an insurance company will be the liability of Lesseedate.
Appears in 5 contracts
Samples: Lease (Impossible Kicks Holding Company, Inc.), Lease (Impossible Kicks Holding Company, Inc.), Lease (Impossible Kicks Holding Company, Inc.)
Damage and Destruction. If In the Leased event that any Facilities located on the Premises are damaged or destroyed, and the net proceeds of insurance are sufficient to cover the Company’s estimated cost of rebuilding (or if Company failed to maintain insurance it is required to maintain under this Agreement and the proceeds of such insurance, had it been maintained, would have been sufficient to cover the Company’s estimated cost of rebuilding), Company shall repair and rebuild the said Facilities, and this Agreement shall continue in full force and effect, and Company shall commence and continue such repair or rebuilding with reasonable diligence and shall complete such repair and rebuilding within a reasonable time after the same is commenced; provided, however, that any delay in the completion of the said repairs resulting from fire or other casualty, strikes, shortages of material or labor, governmental laws, rules and regulations, the elements or matters beyond the reasonable control of Company, shall extend such reasonable time within which Company may complete said repairs or rebuilding by the period of such delay. The net proceeds of any insurance, to the extent that such proceeds are received by Lessor or any part Leasehold Mortgagee, less any expenses of recovery thereof (including attorneys’ fees), shall be made available to Company to be applied to the cost and expense of repair or rebuilding the damage or destruction insured against, subject to reasonable conditions and payable on the usual architect's certificates, but Lessor or any appurtenance thereto Leasehold Mortgagee holding said insurance proceeds may withhold an amount reasonably necessary to insure completion of such repairs or rebuilding (not to exceed ten percent (10%) of such proceeds) until completion and the expiration of the period within which mechanics’ or materialmen's liens may be filed and until receipt of satisfactory evidence that no liens exist. In the event the Company maintains the insurance it is so damaged by firerequired to maintain under this Agreement and the proceeds of insurance are not sufficient to cover the Company’s estimated cost of rebuilding, casualty or structural defects that in the same cannot be used for Lessee’s purposesevent the damage or destruction occurs during the last 10 years of the lease term, then Lessee shall Company will have the right within days following damage option to elect terminate this Agreement, subject to the rights of any Leasehold Mortgagee, which option will be exercisable by written notice to Lessor within forth five (45) days after the occurrence of such event. Company will only have such option to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to specific legal parcel or parcels upon which the Facilities are damaged or destroyed. Any such termination by Company shall require the prior written consent of any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinancesLeasehold Mortgagee. In the event the structure Company elects to terminate this Agreement based upon such damage, destruction, or substantial loss, the Company will be liable for and will pay for all cleanup or demolition of the Leased Premises is damaged as a result necessary to make the Premises ready for repair, replacement, restoration or rebuilding: (a) if the Company or its employees or agents caused such damage, destruction or substantial loss to occur, (b) to the extent of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded proceeds payable with respect to said damage and that all proper notices such damage, destruction or substantial loss, or (c) to the extent of any insurance proceeds which would have been payable with respect to said such damage, are made in a timely mannerdestruction or substantial loss had Company maintained the insurance it is required to maintain under this Agreement. In the event Company does not exercise such option then Company will promptly repair, including notice to Lessorreplace, and the party restore or parties causing rebuild said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeimprovements.
Appears in 4 contracts
Samples: Lease Agreement, Lease Agreement, Lease Agreement
Damage and Destruction. If the Leased Premises or any part thereof the Improvements are damaged or any appurtenance thereto is so damaged destroyed by firefire or other casualty, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as Lease within one hundred twenty (120) days following the occurrence of such fire or other casualty by written notice to Tenant, in which event (i) the entire proceeds of the insurance maintained in accordance with Section 9 below shall be paid by the insurance company or companies directly to Landlord, and shall belong to, and be the sole property of, Landlord; (ii) the portion of proceeds of the insurance provided for in Section 9 which is allocable to Landlord’s Property, fixtures and other items which, by the terms of this Lease, rightfully belong to Landlord upon the termination of this Lease by whatever cause, shall be paid by the insurance company or companies directly to Landlord, and shall belong to, and be the sole property of, Landlord; and (iii) Landlord and Tenant shall be relieved from any and all further liability or obligation accruing under this Lease from and after the date of such damagetermination. In making the event Landlord does not elect to terminate this Lease, then Landlord shall restore the Improvements to the condition it was in on the Effective Date hereof. The Base Rent shall be abated in proportionate to the square footage of area of the Premises that is untenantable. Payment of full rent and all other charges so abated shall re-commence on the day following the date of substantial completion of Lxxxxxxx’s work hereunder. Landlord shall be obligated to diligently pursue the completion of its work and shall cause the same to be completed as soon as reasonably possible under the circumstances. In no event shall Landlord be required to repair or replace Tenant’s Property. If Landlord repairs called for or rebuilds, Tenant, at Tenant’s sole cost, shall repair or replace Tenant’s Property and all other leasehold improvements, trade fixtures, furnishings and equipment in a manner and to at least a condition equal to that prior to the damage or destruction thereof. Any and all proceeds of the property insurance required hereunder to be maintained by Txxxxx, so long as this paragraphLease shall remain in effect, Lessor shall be used only to repair or replace or All permits required in connection with the work to be performed by Tenant shall be obtained by Tenant at Tenant’s sole cost and expense. Any amount expended by Tenant in excess of any insurance proceeds received by Tenant shall be the sole obligation of Tenant. Landlord shall not be liable for or obligated to Tenant to any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor extent whatsoever by reason of any fire or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only casualty damage to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance theretodamages suffered by Tenant by reason thereof, inoperable or unfit for occupancy the deprivation of Tenant’s possession of all or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 3 contracts
Samples: Lease Agreement (Southland Holdings, Inc.), Lease Agreement (Southland Holdings, Inc.), Lease Agreement (Southland Holdings, Inc.)
Damage and Destruction. If Upon the Leased occurrence of any damage to or destruction of improvements on the Premises by fire or any part thereof or any appurtenance thereto is so damaged by fireother casualty, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have promptly notify Lessor thereof, and Lessee shall proceed to restore the right within Premises as nearly as is possible to the condition the Premises were in immediately prior to such damage or destruction, subject to such alterations as Lessee may elect to make in conformity with the provisions of this Lease. Such restoration shall be commenced promptly and whether or not the insurance proceeds, if any, shall be sufficient, shall be substantially completed in no event later than two hundred and ten (210) days following damage to elect by notice to Lessor to terminate this Agreement as of after the date of such partial destruction or damage. In making , or, in the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control event of Lessor. Lessee shall be relieved from paying rent and other charges during any portion a total destruction of the Lease Term that Premises, no later than three hundred and sixty five (365) days after the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any date of such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is destruction (unavoidable delays beyond Lessee’s reasonable control excepted) and which renders all insurance proceeds received by Lessee (and any insurance proceeds that Lessor may receive) on account of such damage or destruction shall be applied to the Leased Premisespayment of the costs of the aforesaid restoration. This Lease shall not terminate or be affected in any manner and Lessee shall not be relieved of its liability to pay the full Rent and additional rent and other charges payable under this Lease or from any other obligations under this Lease by reason of damage to or total, substantial or partial destruction of the building(s), improvements or equipment on, in or appurtenant to the Premises at the commencement of the Term or thereafter erected thereon or therein, or by reason of the untenantability of the Premises or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposespart thereof. It is understood, however, in the event of total or substantial destruction Notwithstanding anything to the Leased Premises that contrary in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposesthis Section 17, Lessee shall promptly repair such not be obligated to rebuild or restore the Premises if damage at or destruction of more than 50% of the cost improvements on the Premises occurs during the last year of Lesseethe Term, particularly items in which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. event Lessee shall promptly assign its insurance proceeds to Lessor and properly remove all rubbish and hazardous wastes and see that pay to Lessor the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure amount of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, deductible under its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseepolicy.
Appears in 3 contracts
Samples: Assignment and Assumption Agreement, Assignment and Assumption Agreement (Sovran Self Storage Inc), Assignment and Assumption Agreement (Sovran Self Storage Inc)
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord’s obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Premises or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of Tenant’s personal property, movable trade fixtures, equipment, furniture, apparatus and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant’s liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, either Tenant or Landlord, at their respective option, may terminate this Lease by giving written notice thereof to the other within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 3 contracts
Samples: Lease (Radiation Therapy Services Inc), To Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Inc)
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord’s obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Center or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of. Tenant I s personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant’s liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 3 contracts
Samples: Lease (Radiation Therapy Services Holdings, Inc.), Addendum to Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.)
Damage and Destruction. A. If the Leased Premises or any part thereof or any appurtenance thereto is so shall be damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposeselements, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor unavoidable accident or other matters which casualty, without the fault of Lessee, but are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, not thereby rendered untenantable in whole or in part, for Lessor shall at its own expense cause such damage, except to Lessee’s purposes. Rentals equipment and other charges paid in advance for any such periods shall trade fixtures, to be credited on the next ensuing payments, if anyrepaired, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaidextent of Lessor’s original obligation to construct pursuant hereto, but also and the Fixed Annual Rent and additional rent payable by Lessee hereunder shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable only in part, Lessor shall at its own expense cause the damage, except to any occurrence which is beyond Lessee’s reasonable control equipment and which renders trade fixtures, to be repaired, to a value not less than its value just prior to said casualty and the Leased Fixed Annual Rent meanwhile shall be abated proportionately as to the portion of the Premises rendered untenantable, until the Premises has been restored to the extent required to be restored by Lessor as required hereby. If the Premises shall be rendered wholly untenantable by reason of such occurrence, Lessor shall at its own expense cause such damage, except to Lessee’s equipment and trade fixtures, to be repaired, to a value not less than its value just prior to said casualty and the Fixed Annual Rent meanwhile shall be abated in whole, until the Premises has been restored to the extent required to be restored by Lessor as required hereby, except that Lessor shall have the right, to be exercised by notice in writing delivered to Lessee within ninety (90) days after said occurrence, to elect not to reconstruct the destroyed Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in partpart of additional rent, including without limitation charges for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage Building Operating Costs and real estate taxes attributable to any part of period during which the Leased PremisesPremises shall be in untenantable condition, and nor shall there be any abatement in additional rent nor the Fixed Annual Rent if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered caused by an insurance company will be the liability act or omission of Lessee.
Appears in 3 contracts
Samples: Lease (Local Matters Inc.), Office Lease Agreement (Local Matters Inc.), Office Lease Agreement (Local Matters Inc.)
Damage and Destruction. If Upon the Leased occurrence of any damage to or destruction of improvements on the Premises by fire or any part thereof or any appurtenance thereto is so damaged by fireother casualty, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have promptly notify Lessor thereof, and Lessee shall proceed to restore the right within Premises as nearly as is possible to the condition the Premises were in immediately prior to such damage or destruction, subject to such alterations as Lessee may elect to make in conformity with the provisions of this Lease. Such restoration shall be commenced promptly and whether or not the insurance proceeds, if any, shall be sufficient, shall be substantially completed in no event later than two hundred and ten (210) days following damage to elect by notice to Lessor to terminate this Agreement as of after the date of such partial destruction or damage. In making , or, in the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control event of Lessor. Lessee shall be relieved from paying rent and other charges during any portion a total destruction of the Lease Term that Premises, no later than three hundred and sixty five (365) days after the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any date of such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is destruction (unavoidable delays beyond Lessee’s reasonable control excepted) and which renders all insurance proceeds received by Lessee (and any insurance proceeds that Lessor may receive) on account of such damage or destruction shall be applied to the Leased Premisespayment of the costs of the aforesaid restoration. This Lease shall not terminate or be affected in any manner and Lessee shall not be relieved of its liability to pay the full Rent and additional rent and other charges payable under this Lease or from any other obligations under this Lease by reason of damage to or total, substantial or partial destruction of the building(s), improvements or equipment on, in or appurtenant to the Premises at the commencement of the Term or thereafter erected thereon or therein, or by reason of the untenantability of the Premises or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposespart thereof. It is understood, however, in the event of total or substantial destruction Notwithstanding anything to the Leased Premises that contrary in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposesthis Section 17, Lessee shall promptly repair such not be obligated to rebuild or restore the Premises if damage at or destruction of more than 50% of the cost improvements on the Premises occurs during the last year of Lesseethe Term, particularly items in which need immediate attention event Lessee shall assign its insurance proceeds to Lessor and which Lessee and/or their employees can do and perform on their own, including but not limited to: pay to Lessor the replacement amount of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etcthe deductible under its policy. Lessee shall promptly hereby waives the provisions of Section 227 of the Real Property Law of the State of New York and properly remove all rubbish of any other law of like import now or hereafter in force and hazardous wastes and see agrees that the same are properly disposed provisions of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or this Section 17 shall govern and control in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseelieu thereof.
Appears in 3 contracts
Samples: Assignment and Assumption Agreement, Assignment and Assumption Agreement (Sovran Self Storage Inc), Assignment and Assumption Agreement (Sovran Self Storage Inc)
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor loss, damage or destruction of all or substantially all of the Mortgaged Property, Mortgagor will give immediate written notice to the insurance carrier and to Mortgagee. Mortgagor hereby authorizes and empowers Mortgagee as attorney-in-fact for Mortgagor to make proof of loss, to adjust and compromise any claim under insurance policies, to appear in and prosecute any action arising from such insurance policies, to collect and receive insurance proceeds, and to deduct therefrom Mortgagee’s expenses incurred in the collection of such proceeds; provided however, that nothing contained herein shall require Mortgagee to incur any expense or take any action hereunder. Mortgagor authorizes Mortgagee to hold the balance of such proceeds and Mortgagee may, at its option, apply the proceeds held by it to the payment of the sums secured by this Mortgage, whether or not then due, in such order and in such amounts as Mortgagee may elect. If the insurance proceeds are applied to the payment of the sums secured by this Mortgage, any such application of proceeds to principal shall not extend or postpone the due dates of the monthly installments provided for in the Note or change the amounts of such installments. If the Mortgaged Property is sold pursuant to this Mortgage or if Mortgagee acquires title to the Mortgaged Property in lieu of foreclosure, Mortgagee shall have all of the right, title and interest of Mortgagor in and to unearned insurance premiums allocable to the Mortgaged Property and in and to the proceeds resulting from any damage to any part of the Leased Premises, and if Mortgaged Property prior to such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state sale or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeacquisition.
Appears in 3 contracts
Samples: And Rents, Security Agreement and Financing Statement (One Earth Energy LLC), And Rents, Security Agreement and Financing Statement (One Earth Energy LLC), Security Agreement and Financing (One Earth Energy LLC)
Damage and Destruction. If the Leased Premises are hereafter partially damaged or destroyed or rendered partially untenantable (i.e., less than 30% of the Premises are damaged or untenantable) for their accustomed use by fire or other casualty and such fire or other casualty is not caused directly or indirectly by the fault or negligence of Tenant, its agents, employees, contractors or invitees, Landlord shall, unless the Lease is terminated as provided below, promptly repair the same to substantially the condition which they were in immediately prior to the happening of such casualty (excluding stock in trade, fixtures, furniture, furnishings, carpeting, floor covering, wall covering, drapes and equipment), and from the date of such casualty until the Premises are so repaired and restored, the monthly rent payments hereunder shall xxxxx in such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises. Provided, however, Landlord shall not be obligated to expend for such repair or restoration an amount in excess of the insurance proceeds received by Landlord as a result of such damage. Landlord’s obligation to rebuild is contingent upon its receipt of insurance proceeds sufficient to make such repairs. In the event any mortgagee or lender requires such sums to be applied to any debt, Landlord will not be deemed to have received the proceeds. Notwithstanding the above, if the Premises or any part thereof material portion of the Project is wholly or any appurtenance thereto is so substantially damaged (i.e., more than 30% of the Premises are damaged or untenantable), destroyed or rendered untenantable for their accustomed use by fire, fire or other casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damagecasualty by giving to Tenant, within ninety (90) days after the happening of such casualty, written notice of such termination. In making If such notice is given, this Lease shall terminate and provided Tenant is not in default hereunder, Landlord shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the repairs called for date of such casualty. If said notice is not given and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its stock in this paragraphtrade, Lessor shall not be liable for any delays resulting from strikesfixtures, governmental restrictionsfurnishings, inability furniture, carpeting, wall covering, floor covering, drapes and equipment to obtain necessary materials the same condition as they were in immediately prior to the casualty. If the Premises or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that Project are damaged by fire or other casualty caused directly or indirectly by the Leased Premises are inoperable fault or unfit for occupancynegligence of Tenant or its agents, employees, contractors, or useinvitees, in whole or in part, for Lessee’s purposes. Rentals the rent under this Lease will not xxxxx and other charges paid in advance for any such periods Tenant shall be credited on liable to Landlord for the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions cost and expense of this paragraph extend not only the repair and restoration of the Premises or the Project caused thereby to the matters aforesaid, but also to any occurrence which extent that such cost and expense is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to or less than the sum of deductible amount covered by the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or described in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeSection 14.1.
Appears in 2 contracts
Samples: Industrial Lease (Wornick CO Right Away Division, L.P.), Industrial Lease (TWC Holding Corp.)
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto Building is so damaged totally destroyed by fire, tornado or other casualty or structural defects if the Premises or the Building are so damaged that the same rebuilding or repairs cannot be used for Lessee’s purposescompleted within ninety (90) days after the date of such damage, then Lessee shall have the right within days following damage to elect by notice to Lessor to Sublandlord may at their option terminate this Agreement Lease, and Rent will axxxx for the unexpired portion of the Lease Term effective as of the date of such damage. In making If the repairs called for in this paragraphBuilding or the Premises are damaged by fire, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor tornado or other matters which are beyond casualty covered by Sublandlord’s insurance, and rebuilding or repairs can be completed within ninety (90) days after the reasonable control date of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancysuch damage, or useif the damage is more serious and Sublandlord do not elect to terminate this Lease, in whole within sixty (60) days after the date of such damage, Sublandlord will commence to rebuild or in part, for Lessee’s purposes. Rentals repair the Building and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are Premises and will proceed with reasonable diligence to be made, any such advance payments shall be refunded restore the Building and Premises to Lessee. The provisions of this paragraph extend not only substantially the same condition that existed immediately prior to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understoodcasualty; provided, however, Sublandlord will not rebuild, repair or replace Tenant’s furniture, fixtures, equipment or the improvements where Sublandlord is not entitled to receipt of insurance proceeds allocated for such furniture, fixtures, equipment or improvements. Sublandlord will allow Tenant a fair diminution of Base Rent during the time and to the extent that the Premises are unfit for Tenant’s use in the event ordinary conduct of total Tenant’s business, which abatement will continue only until the earlier of (a) thirty (30) days following the completion of Sublandlord’s restoration of the Building and Premises as herein provided and receipt of a certificate of occupancy for the Premises or substantial destruction (b) the completion of Tenant’s repairs. Any insurance carried by Sublandlord or Tenant against loss or damage to the Leased Building or to the Premises that in no event shall Xxxxxxis for the sole benefit of the party carrying such insurance and under its sole control, and Sublandlord’s obligation to restore, replace rebuild or rebuild exceed an amount equal restore hereunder is limited to the sum extent of recoverable insurance proceeds available therefor. If any mortgagee under a deed of trust, security agreement or mortgage on the Building requires the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage be used to any part of the Leased Premisesretire debt, Sublandlord will have no obligation to rebuild, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including this Lease will terminate upon notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeTenant.
Appears in 2 contracts
Samples: Sublease Agreement (Franklin Covey Co), Sublease Agreement (Franklin Covey Co)
Damage and Destruction. If the Leased Premises are hereafter damaged or any part thereof destroyed or any appurtenance thereto rendered partially untenantable for their accustomed use by fire or other casualty insured under the coverage which Landlord is so damaged by fireobligated to carry pursuant to Section 11.1 hereof, casualty or structural defects that Landlord shall promptly repair the same canto substantially the condition which they were in immediately prior to the happening of such casualty (excluding stock in trade, fixtures, furniture, furnishings, carpeting, floor covering, wall covering, drapes, ceiling and equipment). From the date of any casualty (whether or not insured or required to be insured) until the Premises are so repaired and restored, the Minimum Monthly Rent payments and all other rent payments payable hereunder, except Real Estate Taxes, shall abatx xx such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises; provided, however, that Landlord shall not be used obligated to repair and restore if such casualty is not covered by the insurance which Landlord is obligated to carry pursuant to Section 11.1 hereof or is caused directly by the negligence of Tenant, its agents or employees and provided, further, that Landlord shall not be obligated to expend for Lessee’s purposesany repair or restoration an amount in excess of the insurance proceeds recovered by Landlord therefor (other than applicable deductibles), and provided, further, that if the Premises be damaged, destroyed or rendered untenantable for their accustomed uses by fire or other casualty to the extent of more than fifty percent (50%) of the cost to replace the Premises during the last three (3) years of the Lease Term, then Lessee Landlord or Tenant shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damagecasualty by giving to the other party, within thirty (30) days after the happening of such casualty, written notice of such termination. In making If such notice be given, this Lease shall terminate and Landlord shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the date of such casualty. Any time that Landlord repairs called or restores the Premises after damage or destruction, then Tenant shall promptly repair or replace its stock in trade, fixtures, furnishings, furniture, carpeting, wall covering, floor covering, drapes, ceiling and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Notwithstanding anything to the contrary set forth herein, in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials the event all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term Center shall be damaged or destroyed by fire or other cause (notwithstanding that the Leased Premises are inoperable may be unaffected thereby), to the extent the cost of restoration thereof would exceed fifteen percent (15%) of the amount it would have cost to replace the Center in its entirety at the time such damage or unfit for occupancydestruction occurred, or usethen Landlord may terminate this Lease by giving Tenant thirty (30) days prior notice of Landlord's election to do so, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which notice shall be credited on the next ensuing paymentsgiven, if anyat all, but if no further payments are to be made, any within sixty (60) days following the date of such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageoccurrence. In the event of minor damage to any part the termination of the Leased Premisesthis Lease as aforesaid, and if this Lease shall cease thirty (30) days after such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises notice is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessorgiven, and the rent and other charges hereunder shall be adjusted as of that date. If the Premises are damaged and the reasonably estimated time to repair the damage will exceed one hundred eighty (180) days, then either party or parties causing said damage. Any damage that shall have the right to terminate this Lease by delivering written notice tot he other party within thirty (30) days after the estimated time for rebuilding is not covered by an insurance company will be the liability of Lesseedetermined.
Appears in 2 contracts
Samples: Lease (Silicon Entertainment Inc /Ca/), Lease (Silicon Entertainment Inc /Ca/)
Damage and Destruction. If Notwithstanding the Leased Premises or any part thereof or any appurtenance thereto is so provisions of Section 9.1 hereof, if MOB B shall be damaged by firefire or other casualty (any of the foregoing being hereinafter called a “Casualty”). Tenant shall, casualty or structural defects that within thirty (30) days of the date of such Casualty, cause an architect licensed in the State of Tennessee to deliver to both Landlord and Tenant in writing, such architect’s good faith opinion (hereinafter, the “Architect’s Opinion”) as to) (i) the length of time required to cause the Premises to be repaired and restored substantially to the same cannot be used for Lesseecondition existing prior to the Casualty and (ii) the estimated cost of such repairs and restorations. If said Architect’s purposesOpinion indicates that such repairs and restoration shall take in excess of twelve (12) months from the expiration of the Notice Period (as hereinafter defined), then Lessee then, subject to the rights of any Leasehold Mortgagee (as defined in Section 11.3), either Landlord or Tenant shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease as of the date of such damage. In making Casualty upon giving written notice to the repairs called for in this paragraph, Lessor shall not be liable for other party to such effect at any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond time during the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion period ending fifteen (15) days after such party’s receipt of the Lease Term that Architect’s Opinion (the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood“Notice Period”); provided, however, that in the event that Tenant elects to restore MOB B and proceeds to diligently restore the Premises (regardless of total whether such restoration extends beyond twelve (12) months), then Landlord may not terminate this Lease; provided, further, however, that Tenant shall thereafter diligently pursue restoration of the Premises to a condition substantially the same or substantial destruction better than existed prior to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageCasualty. In the event that this Lease is so terminated by either Landlord or Tenant, the net proceeds of minor damage insurance carried pursuant to any part the provisions of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee Subsection 6.1(a) above shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according be paid to all local, state or federal laws, rules, regulations or ordinancesTenant. In the event that Tenant elects to terminate this Lease within the structure Notice Period, Tenant shall pay the reasonable costs of demolition of MOB B, including removal of all casualty debris. In the event this Lease is not terminated, as aforesaid, Rent hereunder shall not xxxxx and Tenant shall remain liable for the payment of all Impositions payable by Tenant pursuant to Article V above during the period of Tenant’s restoration of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 2 contracts
Samples: Ground Lease Agreement, Ground Lease Agreement (CNL Healthcare Properties, Inc.)
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord’s obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Center or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of Tenant is personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant’s liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 2 contracts
Samples: Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.)
Damage and Destruction. 13.1 If the Leased Premises or any part thereof or any appurtenance thereto the Building is so damaged by firefire or other casualty, casualty or structural defects that Landlord shall forthwith repair such damage, subject to the same cannot provisions of this Section 13.1, if, in Landlord’s judgment, such repairs can be used for Lessee’s purposes, then Lessee shall have the right made within one hundred eighty (180) days following damage to elect by notice to Lessor to terminate this Agreement as of after the date of such damage. In making ; provided, however the repairs called for in this paragraphto be made hereunder by Landlord shall not include, Lessor and Landlord shall not be liable for required to repair or replace (i) any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor damage by fire or other matters which are beyond cause to Tenant’s Property, paneling, decorations, railings or floor coverings, or to any Alterations, additions, fixtures or improvements installed on the reasonable control Premises by or at the expense of LessorTenant or (ii) any damage caused by the negligence of Tenant, its contractors, agents, licensees or employees. Lessee During the making of such repairs by Landlord this Lease shall remain in full force and effect, except that if the damage is not the result of any act, neglect, default or omission of Tenant, its agents, employees or invitees, Tenant shall be relieved from paying rent entitled to a reduction of Base Rent and other charges during any portion Additional Charges while such repair is being made in the proportion that the rentable area of the Premises rendered untenantable by such damage bears to the total rentable area of the Premises. Within forty five (45) days after the date of such damage, Landlord shall notify Tenant whether or not such repairs can be made within one hundred eighty (180) days after the date of such damage (“Damage Notice”) and Landlord’s determination thereof shall be binding on Tenant. If such repairs cannot be made within one hundred eighty (180) days from the date of such damage, Landlord shall have the option within sixty (60) days after the date of such damage either to: (a) notify Tenant of Landlord’s intention to repair such damage and diligently prosecute such repairs, in which event this Lease Term shall continue in full force and effect and the Base Rent and Additional Charges shall be reduced as provided herein; or (b) notify Tenant of Landlord’s election to terminate this Lease as of the date specified in the notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given. If the Damage Notice states that such repairs cannot be made within one hundred eighty (180) days from the Leased date of such damage and the damage is such that it substantially handicaps, impedes or impairs Tenant’s ability to conduct its business in the Premises, Tenant shall have the option within thirty (30) days after the date of such damage to terminate this Lease. If the repairs are not substantially completed within the later of (x) one hundred eighty (180) days or (y) the estimated restoration period originally given by Landlord, and the condition of the Premises are inoperable is such that it substantially handicaps, impedes or unfit for occupancyimpairs Tenant’s ability to conduct its business in the Premises, Tenant shall have the option to terminate this Lease and must provide notice of the same to Landlord within fourteen (14) business days of the expiration of such restoration period, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which termination right is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damagewaived. In the event that such notice to terminate is given as provided above, this Lease shall terminate on the date specified in such notice. In case of minor termination, the Base Rent and Additional Charges shall be reduced by a proportionate amount based upon the extent to which such damage interfered with the business carried on by Tenant in the Premises as reasonably determined by Landlord, and Tenant shall pay such reduced Base Rent and Additional Charges up to the date of termination. Landlord agrees to refund to Tenant any part Base Rent and Additional Charges previously paid for any period of time subsequent to such date of termination. Landlord shall also have the right to terminate this Lease if; (1) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (2) the Premises have been materially damaged and there is less than two (2) years of the Leased PremisesTerm remaining on the date of the casualty; (3) any mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (4) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within sixty (60) days after the date of the casualty. Tenant hereby waives the provisions of Section 1932, subdivision 2, and if such damage does not render the Leased Premises unusable for Lessee’s purposesSection 1933, Lessee shall promptly repair such damage at the cost of Lesseesubdivision 4, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result Civil Code of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeCalifornia.
Appears in 2 contracts
Samples: Office Lease (Twilio Inc), Office Lease (Twilio Inc)
Damage and Destruction. If the Leased Premises are hereafter damaged or any part thereof destroyed or any appurtenance thereto rendered partially untenantable for their permitted use by fire or other casualty insured under the coverage which Landlord is so damaged by fireobligated to carry pursuant to Section 11.1 hereof, casualty or structural defects that Landlord shall promptly repair the same canto substantially the condition which they were in immediately prior to the happening of such casualty (excluding stock in trade, fixtures, furniture, furnishings, carpeting, floor covering, wall covering, drapes and equipment), and from the date of such casualty until the Premises are so repaired and restored, only the Minimum Monthly Rent payments payable hereunder shall xxxxx in such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises; PROVIDED, HOWEVER, that Landlord shall not be used obligated to repair and restore if such casualty is not covered by the insurance which Landlord is obligated to carry pursuant to Section 11.1 hereof or is caused directly or indirectly by the negligence of Tenant, its agents, and employees and in either of such events, no portion of the Minimum Monthly Rent and other payments payable hereunder shall xxxxx, and PROVIDED, FURTHER, that Landlord shall not be obligated to expend for Lessee’s purposesany repair or restoration an amount in excess of the insurance proceeds received by Landlord therefor, and provided, further, that if the Premises be damaged, destroyed or rendered untenantable for their accustomed uses by fire or other casualty to the extent of more than fifty percent (50%) of the cost to replace the Premises during the last three (3) years of the Lease Term, then Lessee Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damagecasualty by giving to Tenant, within sixty (60) days after the happening of such casualty, written notice of such termination. In making If such notice be given, this Lease shall terminate and Landlord shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the date of such casualty. Any time that Landlord repairs called or restores the Premises after damage or destruction, then Tenant shall promptly repair or replace its stock in trade, fixtures, furnishings, furniture, carpeting, wall covering, floor covering, drapes, equipment and Premises to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Notwithstanding anything to the contrary set forth herein, in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials the event all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term Center shall be damaged or destroyed by fire or other cause (notwithstanding that the Leased Premises are inoperable may be unaffected thereby), to the extent the cost of restoration thereof would exceed fifteen percent (15%) of the amount it would have cost to replace the Center in its entirety at the time such damage or unfit for occupancydestruction occurred, or usethen Landlord may terminate this Lease by giving Tenant thirty (30) days prior notice of Xxxxxxxx’s election to do so, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which notice shall be credited on the next ensuing paymentsgiven, if anyat all, but if no further payments are to be made, any within ninety (90) days following the date of such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageoccurrence. In the event of minor damage to any part the termination of the Leased Premisesthis Lease as aforesaid, and if this Lease shall cease thirty (30) days after such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises notice is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessorgiven, and the party or parties causing said damage. Any damage rent and other charges hereunder shall be adjusted as of that is not covered by an insurance company will be the liability of Lesseedate.
Appears in 2 contracts
Samples: Lease (Impossible Kicks Holding Company, Inc.), Lease (Impossible Kicks Holding Company, Inc.)
Damage and Destruction. If the Leased Premises Borrowers shall provide a complete written report to Collateral Agent and Lender immediately upon any loss, theft, damage or destruction of any part thereof or Collateral and of any appurtenance thereto is so damaged by fireaccident involving any Real Estate Collateral resulting in a loss of at least $350,000. With respect to any Damaged Collateral, casualty or structural defects that Borrowers shall as soon as practicable after such event either: (a) replace the same cannot at Borrowers’ sole cost and expense with property having substantially similar specifications and of equal or greater value to the Damaged Collateral immediately prior to the time of the loss occurrence, such replacement property to be used for Lesseesubject to Collateral Agent’s purposesand Lender’s approval, then Lessee whereupon such replacement property shall have the right within days following damage to elect by notice to Lessor to terminate be substituted in this Agreement as of and the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials other related documents by appropriate endorsement or labor amendment; or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction (b) with respect to said damageDamaged Collateral involving a loss of at least $350,000, pay the applicable Damaged Collateral Amount. In With respect to Damaged Collateral involving a loss of at least $350,000, Borrowers shall notify Collateral Agent and Lender of which course of action it will take within 30 calendar days after the event of minor damage to any part loss occurrence. If, within 90 calendar days of the Leased Premisesloss occurrence, (a) Borrowers fail to notify Collateral Agent and Lender; (b) Borrowers, Collateral Agent and Lender fail to execute an amendment to this Agreement and any related document to delete the Damaged Collateral and add the replacement property or (c) Borrowers fail to pay the applicable Damaged Collateral Amount, then Lender may, at its sole discretion, declare the applicable Damaged Collateral Amount to be immediately due and payable, and if such damage does not render Borrowers are required to pay the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost same. The Net Proceeds of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect the Damaged Collateral shall be made available by Collateral Agent to said damage, are made in a timely manner, including notice be applied to Lessor, discharge Borrowers’ obligation under this Section. The payment of the Damaged Collateral Amount and the party or parties causing said damagetermination of Collateral Agent’s interest in the Damaged Collateral is subject to the terms of Section 2.07 hereof. Any damage that is not covered by an For purposes of this Section, the term “Net Proceeds” shall mean the amount remaining from the gross proceeds of any insurance company will be claim after deducting all expenses (including reasonable attorneys’ fees) incurred in the liability collection of Lesseesuch claim.
Appears in 2 contracts
Samples: Loan Agreement (Landec Corp \Ca\), Master Security Agreement (Landec Corp \Ca\)
Damage and Destruction. If the Leased Premises is damaged or destroyed by reason of fire or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects other cause to such extent that the same cannot be used for Lessee’s purposescost of restoration, as reasonably estimated by the Landlord on the basis of a report by an architect or engineer designated by the Landlord, will equal or exceed twenty-five percent (25%) of the replacement value of the Premises (exclusive of foundations) just prior to the occurrence of the damage, then Lessee shall have either party may, no later than the right within days ninetieth (90th) day following such damage to elect by or destruction, give the other party a notice to Lessor of election to terminate this Agreement Lease. In the event of such election, Tenant shall immediately initiate ISRA compliance consistent with this Lease, including for any Hazardous Discharge resulting from such casualty, and this Lease shall be deemed to terminate on the sixtieth (60th) day after the giving of said notice, and the Tenant shall surrender possession of the Premises upon such termination, and the Net Rent, and any Additional Rent, shall be apportioned as of the date of said surrender, and any Net Rent or Additional Rent already paid by the Tenant for any period beyond said date shall be returned to the Tenant. Absent such damagean election to terminate this Lease, the Tenant shall remediate any Hazardous Discharge to the extent such casualty caused such Hazardous Discharge and otherwise Landlord shall restore the damage with reasonable promptness, subject to Force Majeure (as such term is defined herein) and subject to the Landlord receiving sufficient insurance proceeds to accomplish the restoration. The Landlord need not restore any Personal Property, fixture or improvement owned by the Tenant and the Landlord need not restore the Premises or Building unless it has adequate insurance proceeds available to do so after any mortgagee deducts therefrom any amount due to it. In making case of any damage that renders the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, unusable in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods there shall be credited on an appropriate abatement in Net Rent and Additional Rent payable hereunder, for the next ensuing payments, if any, but if no further payments period for which the Premises or portion thereof are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only unusable to the matters aforesaid, but also to extent Landlord receives any occurrence which is beyond Lessee’s reasonable control and which renders rent interruption insurance in lieu thereof. All Additional Rent obligations of the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction Tenant shall likewise continue except to the Leased Premises that extent Landlord receives any rent interruption insurance in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal lieu thereof. Notwithstanding anything contained herein to the sum contrary, since this is a short term Lease and Landlord plans to substantially renovate the Premises at the end of the insurance proceeds available term, Landlord may elect not to repair or restore the Premises in which event Tenant may give thirty (30) days written notice of termination (or such termination notice may be effective earlier if the Premises cannot be used by Tenant for reconstruction with respect its business due to said damage. In the event of minor damage need for such repair or restoration or Tenant may pay for a temporary repair to any part of the Leased Premisessuch damaged), and whereupon this Lease shall terminate as if such damage does not render date were the Leased Premises unusable for Lessee’s purposesExpiration Date hereunder and thereafter neither party shall have any further obligation or liability to the other except to the extent such obligation or liability would survive the Expiration Date originally set forth herein, Lessee shall promptly repair such damage at the cost of Lesseeincluding, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: , those obligations and liabilities of Tenant set forth in Article 12. Provided however, if the replacement Tenant advises the Landlord in writing that such repair or restoration is not essential for its continued use and occupancy, then Tenant may continue to occupy the Premises and the Net Rent, Real Estate Taxes and other financial obligations of light bulbs, normal repair Tenant and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that Landlord will be equitably adjusted as if the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure portion of the Leased Premises is damaged that Landlord has elected not to restore and as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of thereof is no longer usable by the Leased Premises, then Lessee shall be primarily responsible for seeing that Tenant were the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeSurrender Space.
Appears in 2 contracts
Samples: Net Lease Agreement (Breeze-Eastern Corp), Net Lease Agreement (Breeze-Eastern Corp)
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto the Facility is so damaged by firefire or other casualty, casualty or structural defects that then Port shall repair the same provided that funds for such repairs are appropriated by Port, in its sole discretion, for such purpose and that such repairs can be made within the Repair Period. In the event such conditions are satisfied, this Lease shall remain in full force and effect except that so long as such damage or casualty is not attributable to Tenant, its Agents or Invitees, Tenant shall be entitled to a proportionate reduction of Base Rent during the Repair Period based upon the extent to which such damage and the making of such repairs materially interferes with Tenant's use or occupancy of the Premises less any insurance proceeds Tenant receives, or would have received if Tenant complied with the requirements set forth in Section 16 above, which proceeds are to be applied against the payment of Rent during any Repair Period. Port shall use its commercially reasonable efforts to notify Tenant within ninety (90) days after the date of such damage whether or not such repairs can be made within the Repair Period, and Port's determination thereof shall be binding on Tenant. If such repairs cannot be used for Lessee’s purposesmade within the Repair Period, then Lessee Port shall have the right option to notify Tenant of: (a) Port's intention to repair such damage and diligently prosecute such repairs to completion within days following damage a reasonable period after the Repair Period, subject to elect by notice to Lessor appropriation of funds, in which event this Lease shall continue in full force and effect and the monthly Base Rent shall be reduced as provided herein; or (b) Port's election to terminate this Agreement Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Port. In case of termination, the monthly Base Rent shall be reduced as provided above, and Tenant shall pay such reduced monthly Base Rent up to the date of termination. If Port elects not to appropriate funds for such repair, Port shall give written notice to Tenant within sixty (60) days after the date Port elects not to appropriate funds of its election to terminate this Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Port. In case of termination, the monthly Base Rent shall be reduced as provided above, and Tenant shall pay such reduced monthly Base Rent up to the date of termination. If at any time during the last six (6) months of the Term, the Premises or the Facility is damaged or destroyed, then either Port or Tenant may terminate this Lease by giving written notice to the other party of its election to do so within thirty (30) days after the date of the occurrence of such damage; provided, however, Tenant may terminate only if such damage or destruction substantially impairs its use or occupancy of the Premises for the Permitted Use. In making The effective date of termination shall be specified in the repairs called for in this paragraphnotice of termination, Lessor which date shall not be liable for any delays resulting more than thirty (30) days from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion date of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposesnotice. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only Notwithstanding anything to the matters aforesaidcontrary in this Lease, but also (i) Port shall have no obligation to repair the Premises or the Facility, (ii) Tenant shall not be entitled to any occurrence which is beyond Lessee’s reasonable control abatement of Rent, and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however(iii) Tenant shall not be entitled to terminate this Lease, in the event the damage or destruction is attributable to any act or omission of total Tenant, its Agents, or substantial destruction to the Leased Premises that in Invitees. In no event shall Xxxxxx’s obligation Port be required to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor repair any damage to Tenant's Property or any part of paneling, decorations, railings, floor coverings, or any Improvements or other Alterations installed or made on the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage by or at the cost expense of LesseeTenant. Notwithstanding any other provision of this Lease, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In in the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance companyFacility is substantially damaged or destroyed and Port intends to rebuild for a Port program or project that is inconsistent with this Lease, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including Port may terminate this Lease upon written notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeTenant.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Damage and Destruction. If all or any portion of the Leased Premises, the building of which the Premises are a part, the Shopping Center or access thereto is wholly or partially damaged or destroyed by fire or other casualty Landlord shall, within Thirty (30) days after such damage or destruction occurs, notify Tenant of Landlord's election to terminate this Lease or restore, or cause to be restored, the improvements on the Premises and/or such portion of the improvements in the balance of the Shopping Center as in Landlord's sole discretion is necessary to create an economically feasible commercial unit If Landlord elects to repair or restore the improvements on the Premises, then Landlord shall rebuild, restore or repair such Premises (excluding any and all improvements installed by Tenant) in substantially the same condition as when furnished to Tenant In no event shall Landlord be required to repair or restore all or any part thereof of the improvements in the balance of the Shopping Center. If any part of the Premises are rendered sufficiently untenantable so as to interfere materially with Tenant's use, occupancy or any appurtenance thereto is so damaged by fireenjoyment of Premises, casualty or structural defects minimum rent shall xxxxx during the period of reconstruction in the same proportion to the total minimum rent as the portion of the Premises rendered untenantable bears to the entire Premises. The minimum rent abatement for a partial month shall be prorated in the proportion that the same cannumber of days the Premises are untenantable during such partial month bears to the total number of days in that calendar month. If Landlord elects not be used for Lessee’s purposesto restore, then Lessee this Lease shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement effective as of the date of such damage.such damage upon Landlord giving Tenant notice of its election as provided above. In making the repairs called for in this paragraph, Lessor Tenant shall not be liable for any delays resulting from strikes, governmental restrictions, inability entitled to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available in connection with any fire or other casualty event, except for reconstruction those proceeds from Tenant's own insurance policies with respect to said damage. In the event of minor damage to any part of the Leased PremisesTenant's personal property, fixtures and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.equipment
Appears in 2 contracts
Samples: Shop Lease (Wasatch Food Services Inc), Shop Lease (Wasatch Food Services Inc)
Damage and Destruction. If Unless the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee Borrowers shall have exercised their option to prepay the right within days following damage Loan in full pursuant to elect by notice to Lessor to terminate this Agreement as of Article 11 hereof, if the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials Collateral Property is destroyed or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, damaged (in whole or in part) by fire or other casualty, for Lessee’s purposesthe Borrower Representative shall promptly give written notice thereof to the Trustee. Rentals All Net Proceeds of insurance shall, as determined by the Trustee if directed by the Majority Bondholder, either be used to redeem Bonds or be held by the Borrowers in a separate trust account, whereupon: (a) the Borrowers will promptly repair, rebuild or restore the property damaged or destroyed to substantially the same condition as it existed prior to such damage or destruction, with such changes, alterations and modifications (including the substitution and addition of other charges paid property) as may be desired by the Borrowers and as will not impair the Borrowers’ ability to operate the Collateral Property in advance for an efficient manner; and (b) the Borrowers will apply so much as may be necessary of the Net Proceeds of such insurance to payment of the costs of such repair, rebuilding or restoration as the work progresses. Any balance of such Net Proceeds remaining after payment of all the costs of such repair, rebuilding or restoration shall be applied on a pro rata basis to redeem Bonds and pay Additional Parity Indebtedness. The portion of any such periods balance to be used to redeem Bonds shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only transferred to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control Bond Principal Fund and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction applied to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum payment of principal of the insurance proceeds available for reconstruction with respect to said damageBonds. In the event such Net Proceeds are not sufficient to pay in full the costs of minor damage such repair, rebuilding or restoration, the Borrower will nonetheless complete the work thereof and will pay any costs thereof in excess of the amount of such Net Proceeds. The Borrowers shall not by reason of the payment of such excess costs be entitled to any part reimbursement from the County, the Trustee or the owners of the Leased PremisesBonds or any postponement, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state abatement or federal laws, rules, regulations or ordinances. In the event the structure diminution of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use Loan Payments and occupancy of the Leased Premises, then Lessee shall other payments required to be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeunder this Agreement.
Appears in 2 contracts
Samples: Loan Agreement (Wildfire New PubCo, Inc.), Loan Agreement (Wildfire New PubCo, Inc.)
Damage and Destruction. If at any time prior to the Leased Premises Closing, Seller determines that the Property has been destroyed or damaged by earthquake, flood or other casualty and that such damage will require more than Five Hundred Thousand Dollars ($500,000.00) to repair (a “Casualty”), or if a proceeding is instituted for the taking of all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that material portion of the same cannot be used for Lessee’s purposesProperty under the power of eminent domain (a “Taking”), then Lessee Buyer shall have the right within days following damage to elect by giving written notice to Lessor Seller and Title Company within ten (10) business days after the date of receipt of prior written notice from Seller of any such Casualty or Taking, either to: (a) consummate the purchase of the Property in accordance with this Agreement; or (b) terminate this Agreement effective as of the date such notice of termination is given. If Buyer fails to give such notice within such ten (10) business day period, then Buyer shall be deemed to have elected to terminate this Agreement as of the date of such damagepursuant to this Article 7. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee The Closing Date shall be relieved deferred, if necessary, to permit Buyer to have the ten (10) business day period following receipt of written notice from paying rent and other charges during any portion Seller of a Casualty or a Taking or such additional time as may reasonably necessary to allow Buyer to accurately assess the Lease Term that length of time needed to repair the Leased Premises are inoperable or unfit Property in order for occupancyBuyer to make the election specified hereinabove. If Buyer terminates this Agreement pursuant to this Article 7, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods then the Deposit shall be credited on returned to Buyer, and neither Seller nor Buyer shall have any further obligations under this Agreement, except for those obligations that expressly survive the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions termination of this paragraph extend not only to the matters aforesaidAgreement (including, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premiseswithout limitation, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall XxxxxxBuyer’s obligation to restoreperform the Continuing Obligations). If Buyer elects to consummate the purchase of the Property in accordance with this Agreement, replace or rebuild exceed an then upon the Closing, there shall be a credit against the Purchase Price due hereunder due hereunder (“C/C Credit”) equal to: (i) the amount equal of any insurance proceeds (excepting therefrom rental loss insurance proceeds allocable to the sum of the insurance proceeds available for reconstruction with respect period prior to said damage. In the event of minor damage Closing) or condemnation awards actually collected by and paid to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged Seller as a result of any neglect such damage or negligence destruction or condemnation, less any sums expended by Seller toward the restoration or repair of Lesseethe Property, its employees, agents, inviteesplus (ii) any deductible of Seller (except any earthquake deductible) incurred with respect to such damage or destruction. If the proceeds or awards have not been collected as of the Closing, or the restoration or repairs have not been completed by Seller, then such proceeds or awards shall be assigned to Buyer, except to the extent needed to reimburse Seller for sums expended to repair or restore the Property. Buyer shall be bound to purchase the Property for the full Purchase Price in accordance with and subject to the terms of this Agreement, without regard to the occurrence or effect of any independent contractors serving Lessee damage to the Property or destruction of any improvements thereon or condemnation of any portion of the Property, provided that: (a) the cost to repair any such damage or destruction, or the diminution in any way the value of the remaining Property as a result of Xxxxxx’s use and occupancy of the Leased Premisesa partial condemnation, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessordoes not exceed Five Hundred Thousand Dollars ($500,000), and the party amount of insurance proceeds available to Seller, when added to the amount of Seller’s deductible, is sufficient to cover the cost to restore the damage to or parties causing said damagedestruction of the applicable improvements; and (b) upon the Closing, there shall be a credit against the Purchase Price due hereunder equal to the C/C Credit; provide further, however, if the facts described in the foregoing item (a) are not satisfied, then Buyer shall have the right to terminate this Agreement in accordance with the provisions of the first sentence of this Section 7.1. Any damage that is not covered by Nothing herein shall be deemed to constitute an obligation on the part of Seller to carry or maintain any insurance company will be of any kind whatsoever pertaining to the liability of LesseeProperty.
Appears in 2 contracts
Samples: Purchase and Sale Agreement and Escrow Instructions, Purchase and Sale Agreement and Escrow Instructions (Zynga Inc)
Damage and Destruction. If either the Leased Building or the Premises should be substantially destroyed or any part thereof damaged (which, as used herein, means destruction or any appurtenance thereto is so damaged material damage to at least 50% of the Building or the Premises) by fire, casualty fire or structural defects that the same cannot be used for Lessee’s purposesother casualty, then Lessee shall have the right within days following damage to elect by notice to Lessor to either party hereto may, at its option, terminate this Use Agreement by giving written notice thereof to the other party within thirty (30) days after the date of such casualty. In such event, Periodic Use Compensation shall be apportioned to and shall cease as of the date of such damagecasualty. In making If neither party exercises this option, then the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee Premises shall be relieved from paying rent reconstructed and other charges during any portion of restored, at City's expense, to substantially the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only same condition as they were prior to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understoodcasualty; provided, however, in the event of total or substantial destruction that City's obligation hereunder shall be limited to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum reconstruction of such of the insurance proceeds available RW interior improvements as were originally required to be provided by City in accordance with this Use Agreement and further provided that, if RW has made any additional improvements pursuant to Section 3.02 of this Use Agreement, RW shall reimburse City for reconstruction with respect the cost of reconstructing the same on terms satisfactory to said damageCity in its sole discretion. In the event of minor damage to such reconstruction, Periodic Use Compensation shall be abated for any period between the date of the casualty and substantial completion of the reconstruction repairs by City during which the Premises are unusable (or abated on a pro rata basis if only a portion of the Premises is unusable) and this Use Agreement shall continue in full force and effect for the balance of the term hereof. If the Building and the Premises should be less than substantially destroyed or damaged by fire or other casualty that does not result in a termination of the Use Agreement as provided for above, then such damaged part of the Leased PremisesPremises shall be reconstructed and restored at City's expense, to substantially the same condition as they were prior to the casualty; provided, however, that City's obligation hereunder shall be limited to the reconstruction of such of the RW interior improvements as were originally required to be provided by City in accordance with this Use Agreement, and further provided that, if such damage does not render the Leased Premises unusable RW has made any additional improvements pursuant to Section 3.02 of this Use Agreement, RW shall reimburse City for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that reconstructing the same on terms satisfactory to City in its sole discretion. Periodic Use Compensation shall be abated to the extent the Premises are properly disposed of according to all local, state unusable (or federal laws, rules, regulations or ordinances. In the event the structure abated on a pro rata basis if only a portion of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy unusable) from the date of the Leased Premisescasualty until substantial completion of the reconstruction repairs by City; and this Use Agreement shall continue in full force and effect for the balance of the term hereof. City shall use reasonable diligence in completing such reconstruction repairs. Notwithstanding anything else to the contrary contained in this Section 6.01, then Lessee except for RW's reimbursement for the cost of reconstructing those improvements made by RW pursuant to Section 3.02 of this Use Agreement, City shall have no obligation to pay for restoration of the Premises more than the net amount of the insurance proceeds payable for the benefit of City by reason of such damage or destruction after deduction of City's cost of obtaining such proceeds and any amount any lender to City requires to be primarily responsible for seeing applied to such loan, provided that if because such proceeds plus any amount City voluntarily contributes are insufficient to restore the proper claims are placed Premises substantially to the condition they were in prior to such casualty, subject to the limitations with Xxxxxx’s insurance companyregard to RW's additional improvements as set forth above, or RW shall have the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect right to said damage and that all proper notices with respect to said damage, are made in a timely manner, including terminate this Use Agreement by written notice to Lessor, and the party or parties causing said damage. Any damage City which is delivered within thirty (30) days after RW first becomes aware that is not covered by an insurance company will be the liability of Lesseesuch insufficiency exists.
Appears in 2 contracts
Samples: Use Agreement, Use Agreement
Damage and Destruction. 22.1 If the Leased Premises or any part thereof or any appurtenance thereto the Project is so damaged by firean insured casualty, casualty occurring more than six (6) months prior to the expiration of the term hereof, Landlord shall forthwith repair same, or structural defects cause same to be repaired, to the extent that the same insurance proceeds are made available to Landlord therefor and provided that such repairs cannot , in Landlord's reasonable opinion, be used for Lessee’s purposes, then Lessee shall have the right made within days following damage to elect by notice to Lessor to terminate this Agreement as of ninety (90) from the date of such damagedamage (without payment of overtime or other premiums) under the laws and regulations of the federal, state and local governmental authorities having jurisdiction thereof. In making If the Premises or the Project is damaged by an uninsured casualty which shall cost more than $100,000 to repair, or if with respect to an insured casualty the repairs called shall require more than ninety (90) days to complete without payment of overtime or other premium, or if the Premises or the Project is damaged by casualty within the last six (6) months of the term and cost in excess of $ I00,000 to repair, Landlord shall have the option within forty-five (45) days from the date of such damage either to (i) notify Tenant of Landlord's election to repair such damage, in which event Landlord shall thereafter repair same, or (ii) notify Tenant of Landlord's election to immediately terminate this Lease, in which event the Lease shall be so terminated. Landlord shall refund to Tenant any rent previously paid for in this paragraphany period of time subsequent to such termination. Notwithstanding any contrary provision herein, Lessor and regardless of whether caused by casualty, (a) Landlord shall not be liable for required to repair any delays resulting from strikesdamage to the property of Tenant or to repair or replace any paneling, governmental restrictionsdecorations, inability railings, floor coverings, alterations, additions, fixtures or improvements installed on the Premises by or at the expense of Tenant, and (b) any damage caused by the negligence or willful misconduct of Tenant or any of its agents, contractors, employees or invitees shall be promptly repaired by Tenant, at its sole cost and expense, to obtain necessary materials or labor or other matters which are beyond the reasonable control satisfaction of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understoodLandlord; provided, however, in the event of total or substantial destruction that Landlord shall bear such cost and expense to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the extent it receives proceeds covering such damage from insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any obtained by Landlord as part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeOperating Costs.
Appears in 2 contracts
Samples: Digital Island Inc, Digital Island Inc
Damage and Destruction. If the Leased Premises Premises, Facility or any part thereof or any appurtenance thereto Port’s Equipment is so damaged by firefire or other casualty, casualty or structural defects that then Port shall repair the same provided that funds for such repairs are appropriated by Port, in its sole discretion, for such purpose and that such repairs can be made within the Repair Period. In the event such conditions are satisfied, this Lease shall remain in full force and effect except that so long as such damage or casualty is not attributable to Tenant, its Agents or Invitees, Tenant shall be entitled to a proportionate reduction of Rent during the Repair Period based upon the extent to which such damage and the making of such repairs materially interferes with Tenant's use or occupancy of the Premises less any insurance proceeds Tenant receives, or would have received if Tenant complied with the requirements set forth in Section 18 above, which proceeds are to be applied against the payment of Rent during any Repair Period. Port shall use its commercially reasonable efforts to notify Tenant within ninety (90) days after the date of such damage whether or not such repairs can be made within the Repair Period, and Port's determination thereof shall be binding on Tenant. If such repairs cannot be used for Lessee’s purposesmade within the Repair Period, then Lessee Port shall have the right option to notify Tenant of: (a) Port's intention to repair such damage and diligently prosecute such repairs to completion within days following damage a reasonable period after the Repair Period, subject to elect by notice to Lessor appropriation of funds, in which event this Lease shall continue in full force and effect and the Rent shall be reduced as provided herein; or (b) Port's election to terminate this Agreement Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Port. In case of termination, the Rent shall be reduced as provided above, and Tenant shall pay such reduced Rent up to the date of termination. If Port elects not to appropriate funds for such repair, Port shall give written notice to Tenant within sixty (60) days after the date Port elects not to appropriate funds of its election to terminate this Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Port. In case of termination, the Rent shall be reduced as provided above, and Tenant shall pay such reduced Rent up to the date of termination. If at any time during the last six (6) months of the Term, the Premises, the Facility or Port’s Equipment is damaged or destroyed, then either Port or Tenant may terminate this Lease by giving written notice to the other party of its election to do so within thirty (30) days after the date of the occurrence of such damage; provided, however, Tenant may terminate only if such damage or destruction substantially impairs its use or occupancy of the Premises for the Permitted Use. In making The effective date of termination shall be specified in the repairs called for in this paragraphnotice of termination, Lessor which date shall not be liable for any delays resulting more than thirty (30) days from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion date of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposesnotice. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only Notwithstanding anything to the matters aforesaidcontrary in this Lease, but also (i) Port shall have no obligation to repair the Premises, the Facility or Port’s Equipment, (ii) Tenant shall not be entitled to any occurrence which is beyond Lessee’s reasonable control abatement of Rent, and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however(iii) Tenant shall not be entitled to terminate this Lease, in the event the damage or destruction is attributable to any act or omission of total Tenant, its Agents, or substantial destruction to the Leased Premises that in Invitees. In no event shall Xxxxxx’s obligation Port be required to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor repair any damage to Tenant's Property or any part of the Leased Premisespaneling, and if such damage does not render the Leased Premises unusable for Lessee’s purposesdecorations, Lessee shall promptly repair such damage at the cost of Lesseerailings, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, inviteesfloor coverings, or any independent contractors serving Lessee Improvements or in any way as a result other Alterations installed or made on the Premises by or at the expense of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeTenant.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Damage and Destruction. If In the Leased event the Premises shall be destroyed or any part thereof or any appurtenance thereto is so damaged or injured by fire, fire or other casualty or structural defects that during the Term whereby the same cannot shall be used for Lessee’s purposesrendered untenantable, then Lessee LANDLORD shall have the right right, but not the obligation, to render such Premises tenantable by making repairs thereto within one hundred eighty (180) days following damage from receipt of insurance proceeds in the event of an insured loss or from the date of the casualty in the event of an uninsured loss. If said premises are not rendered tenantable by LANDLORD within said one hundred twenty (120) day period, it shall be optional with either party hereto to elect by notice cancel this Lease, and in the event of such cancellation, the Rent shall be paid only to Lessor to terminate this Agreement as of the date of such fire or casualty. The cancellation herein mentioned shall be evidenced in writing. During any time that the Demised Premises are untenantable due to causes set forth in the Section, a just and fair proportion of Base Rent and Additional Rent shall be abated. Notwithstanding the foregoing, should the cause of such damage. In making , destruction or injury to the repairs called for in this paragraphPremises originate from the Premises or occur by reason of the misfeasance or negligence of TENANT or any employee, Lessor agent, licensee, patron or invitee of TENANT ("TENANT Damage"), TENANT shall not be liable for any delays resulting from strikeshave the right to cancel this Lease, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control and no abatement of Lessor. Lessee Base Rent shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageoccur. In the event of minor damage said TENANT Damage, LANDLORD shall have the right, but not the obligation, to any part of render the Leased PremisesPremises tenantable. If LANDLORD elects to repair said TENANT Damage and render the Premises tenantable, all insurance proceeds available pursuant to this Lease shall be paid to LANDLORD, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at balance of the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee such repairs shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance companypaid by TENANT within five (5) days following demand therefor as Additional Rent. If LANDLORD elects not to repair such TENANT Damage, or the damaging party’s insurance company, TENANT shall make such repairs and shall furthermore be responsible for seeing that the Building is safeguarded with entitled to any insurance proceeds received in respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseecost thereof.
Appears in 2 contracts
Samples: Lease Agreement (Kos Pharmaceuticals Inc), Lease Agreement (Kos Pharmaceuticals Inc)
Damage and Destruction. If A. Subject to Section 8A, above, if the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for LesseeSubtenant’s purposes, then Lessee Subtenant shall have the right within one hundred and twenty (120) days following damage to elect by notice to Lessor Landlord to terminate this Agreement Sublease as of the date of such damage, provided that such damage is not the result, in whole or in part, of the negligence or willful misconduct of Subtenant or Subtenant’s agent, contractors, employees, invitees, or licensees. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Subtenant’s purposes, Landlord shall promptly repair such damage at the cost of the Landlord, provided that such damage is not the result, in whole or in part, of the negligence or willful misconduct of Subtenant or Subtenant’s agent, contractors, employees, invitees, or licensees. In making the repairs called for in this paragraph, Lessor Landlord shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of LessorLandlord. Lessee Subtenant shall be relieved from paying rent and other charges during any portion of the Lease Sublease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for LesseeSubtenant’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to LesseeSubtenant. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond LesseeSubtenant’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for LesseeSubtenant’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 1 contract
Damage and Destruction. If In the event the Leased Premises are damaged or any part destroyed by fire or other peril covered by insurance Landlord is required to carry pursuant to the terms of this Lease, Landlord shall, within thirty (30) days following the casualty, apply for all necessary permits and approvals to repair, reconstruct and restore (collectively referred to herein as "Reconstruction") the damaged or destroyed portion of the Leased Premises. Within a period of sixty (60) days after obtaining all required permits and approval, Landlord shall commence Reconstruction of that portion of the Leased Premises damaged or destroyed and prosecute the same diligently to completion. If the cost of Reconstruction exceeds the greater of (a) the amount of Landlord's insurance, or (b) the amount of insurance proceeds Landlord would have collected if Landlord had complied with its insurance obligations under the Lease, Landlord may elect to terminate this Lease by giving notice thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects to Tenant within thirty (30) days following Landlord's good faith determination that the same cancost of Reconstruction exceeds Landlord's insurance; provided, however, Tenant may rescind Landlord's election to so terminate this Lease by agreeing to pay the difference, in which event this Lease shall not terminate and Landlord shall diligently prosecute the Reconstruction to completion. Any Reconstruction to be used performed by Landlord shall be performed in a manner so as to minimize interference with Tenant's business at the Leased Premises. Landlord shall, subject to the above and the events of Force Majeure, complete such Reconstruction within 180 days after obtaining all required permits and approvals for Lessee’s purposessuch Reconstruction. If Landlord has not completed the Reconstruction within such 180 day period (subject to events of Force Majeure) or if Landlord sooner informs Tenant that Landlord will be unable to complete the Reconstruction within such period, then Lessee Tenant shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease at the end of such period or within five (5) business days of receipt of such notice, as the case may be. In the event the Leased Premises are destroyed or materially damaged by any casualty not required to be covered under Landlord's insurance, Landlord shall have the election, and shall within thirty (30) days following the date of such damage give Tenant written notice of Landlord's election, either (i) to commence Reconstruction of the Leased Premises and complete the same within 180 days following the date of such damage. In making the repairs called for , in which event this paragraphLease shall continue in full force and effect, Lessor shall or (ii) not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control perform such Reconstruction of Lessor. Lessee shall be relieved from paying rent and other charges during any such portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or in which event this Lease shall cease and terminate not later than sixty (60) days after Landlord's notice of its election to terminate. Upon any appurtenance theretotermination of this Lease under any of the provisions of this Section 14, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event parties shall be released thereby without further obligation to the other party coincident with the surrender of total or substantial destruction to possession of the Leased Premises that in no event shall Xxxxxx’s obligation to restoreLandlord, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available expect for reconstruction with respect to said damageits obligations which have theretofore accrued and are then unpaid. In the event of minor damage Reconstruction as herein provided, then the Base Rent shall be abated proportionately with the degree to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Tenant's use of the Leased Premises is damaged as a result impaired, commencing upon the date of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or the casualty and continuing until the date the Tenant recommences normal business in any way as a result of Xxxxxx’s use and occupancy the portion of the Leased PremisesPremises affected by the Reconstruction. Tenant shall continue it operations at the Leased Premises following a partial destruction of the same if, then Lessee in Tenant's reasonable discretion, Tenant's operations at the Leased Premises during any such period can be continued from the standpoint of prudent business management. If Tenant continues operations, Tenant's obligation to pay additional rent (calculated based on the reduced square footage actually being utilized by Tenant) shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, remain in full force and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeeffect.
Appears in 1 contract
Samples: Commercial Lease Agreement (Somera Communications Inc)
Damage and Destruction. (a) If the Leased Subleased Premises, any of the Common Facilities and/or any of the building systems material to Sublessee's effective use of the Subleased Premises in its business during the term of this Sublease shall be partially or totally damaged or destroyed by fire or other casualty, the Sublessor shall, subject to its rights under paragraph (c) below and the other terms and conditions of this paragraph (a), repair the damage and restore and rebuild the Subleased Premises, such Common Facilities and/or building systems as nearly as may be reasonably practical to their condition and character immediately prior to such damage or destruction, with reasonable diligence. Notwithstanding the foregoing, Sublessor shall have no obligation to repair, restore and rebuild the Subleased Premises, such Common Facilities and/or building systems (x) until the proceeds of any insurance covering the same have been adjusted and made available to Sublessor for such repair, restoration or rebuilding and Sublessor shall have obtained all required approvals from the Port Authority to commence and proceed with such repair, restoration or rebuilding, (y) at any time, in the event such fire or other casualty is not fully covered (other than as to a deductible) by insurance (other than where such fire or casualty would have been fully covered by insurance if Sublessor had obtained the insurance required by paragraph (a) of Section 12 hereof, but Sublessor failed to satisfy its obligation to so obtain the same) and Sublessor notifies Sublessee, within ninety (90) days after such fire or other casualty, that it elects not to repair, restore or rebuild the Subleased Premises, such Common Facilities and/or any building systems by reason thereof and (z) to the extent the Port Authority is obligated to (or is permitted to and so elects to) repair restore or rebuild the same pursuant to the terms of the Lease (including the portion thereof referred to as the Port Authority Sublease). If Sublessor delivers to Sublessee a notice described in clause (y) above electing not to repair rebuild or replace any part thereof or any appurtenance thereto is so damaged by fireof the demised premises. Common Facilities and/or building systems, casualty or structural defects that the same cannot be used for Lessee’s purposesSublessee, then Lessee shall have the right within thirty days following damage to thereafter, may elect by notice to Lessor Sublessor to terminate this Agreement as Sublease. In connection with any repair, restoration and/or rebuilding described in this paragraph (a), Sublessor may redesign portions of the date Site and the facilities thereon and change the plans and specifications therefore, provided, such redesigo and changes do not materially impair Sublessee's ability to use the Subleased Premises and the Site for its air cargo business, does not materially reduce the value of such damage. In making its leasehold Subleased Premises or materially increase Sublessee's cost of repairing restoring or replacing the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, Sublessee Property in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Subleased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 1 contract
Damage and Destruction. If (a) In the Leased Premises event the leased premises are damaged or any part thereof or any appurtenance thereto is so damaged destroyed by fire, explosion or other casualty or structural defects that to a lesser degree than 25% of the same cannot be used for Lessee’s purposescost of replacement of the leased premises, then Lessee the premises shall have the right be repaired by Lessor within days following damage to elect by notice to Lessor to terminate this Agreement as a reasonable period of the date of such damage. In making the repairs called for in this paragraphtime at Lessor's expense, provided that Lessor shall not be liable obligated to expend for any delays resulting from strikessuch repair an amount in excess of the insurance proceeds attributable to the premises which are recovered as a result of such damage and Lessor shall not be required to repair or replace Lessee's stock in trade, governmental restrictionsfixtures, inability to obtain necessary materials or labor furniture, furnishings, floor coverings and equipment. (b) In the event of damage by fire, explosion or other matters which are beyond casualty and (i) Lessor is not required to repair as hereinabove provided, (ii) 25% or more of the reasonable control replacement cost of Lessor. Lessee the premises shall be relieved from paying rent and other charges during any portion damaged, (iii) the building of which the premises are a part is damaged to the extent of 25% or more of the Lease Term that replacement cost or (iv) the Leased Premises are inoperable buildings (taken in the aggregate) in the shopping center shall be damaged to the extent of 25% or unfit for occupancymore of the replacement cost, then, in any of such events, Lessor may elect either to repair or rebuild the premises or the building, or useto terminate this Lease upon giving notice of such election in writing to Lessee Within ninety (90) days after the occurrence of the event causing the damage. If the casualty, repairing, or rebuilding shall render the premises untenable, in whole or in part, for and the damages shall not have been due to the default or neglect of Lessee’s purposes. Rentals and other charges paid in advance for any such periods , a proportionate abatement of the Minimum Rent shall be credited allowed from the date when the damage occurred until the date Lessor completes its work, said proportion to be computed on the next ensuing payments, if any, but if no further payments are basis of the relation which the gross square foot area of the space rendered untenable bears to be made, any such advance payments shall be refunded to Lesseethe Floor Area of the Premises. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damagerepair by Lessor shall be limited to such repair as is necessary to place the premises in substantially the same condition as when possession was delivered by Lessor, reasonable wear and tear excepted. In Promptly following such repair, Lessee shall, at Lessee's expense, perform any work required to place the event of minor damage premises in the condition as required by Lessee prior to any part the term of the Leased PremisesLease and Lessee shall restore, repair or replace its stock in trade fixtures, furniture, furnishings, floor coverings and equipment and, if such damage does not render the Leased Premises unusable for Lessee’s purposesLessee has closed, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible reopen for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseebusiness.
Appears in 1 contract
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord's obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Center or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys' fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive, of. Tenant Is personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore, and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord's obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such -loss,, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant's fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant's liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 1 contract
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for LesseeTenant’s purposes, then Lessee Tenant shall have the right within ninety (90) days following damage to elect by notice to Lessor Landlord to terminate this Agreement Lease as of the date of such damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Tenant’s purposes, Landlord shall promptly repair such damage at the cost of the Landlord, less any applicable insurance proceeds. In no event shall Landlord be required to repair or replace Tenant’s trade fixtures, furniture, furnishings, equipment or personal property. In making the repairs called for in this paragraph, Lessor Landlord shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of LessorLandlord. Lessee If Landlord is required or elects to repair the Premises, Tenant shall repair or replace its stock-in-trade, trade fixtures, furniture, furnishings, equipment and personal property in a manner and to at least a condition equal to that prior to its damage or destruction, and the proceeds of all insurance carried by Tenant shall be held in trust by Tenant for the purpose of such repair and replacement. Tenant shall be relieved from paying rent and other charges during any portion of the Lease Term term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for LesseeTenant’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to LesseeTenant. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond LesseeTenant’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for LesseeTenant’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 1 contract
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord's obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Center or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys' fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of Tenant's personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord's obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such -loss,, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant's fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant's liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 1 contract
Damage and Destruction. If the Leased Premises are hereafter damaged or any part thereof destroyed or any appurtenance thereto rendered partially untenantable for their accustomed use by fire or other casualty insured under the coverage which Landlord is so damaged by fireobligated to carry pursuant to Section 11.1 hereof, casualty or structural defects that Landlord shall promptly repair the same canto substantially the condition which they were in immediately prior to the happening of such casualty (excluding stock in trade, fixtures, furniture, furnishings, carpeting, floor covering, wall covering, drapes and equipment), and from the date of such casualty until the Premises are so repaired and restored, the Minimum Monthly Rent payments payable hereunder shall abatx xx such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises; provided, however, that Landlord shall not be used obligated to repair and restore if such casualty is not covered by the insurance which Landlord is obligated to carry pursuant to Section 11.1 hereof [CONFIDENTIAL], and provided, further, that Landlord shall not be obligated to expend for Lessee’s purposesany repair or restoration an amount in excess of the insurance proceeds recovered therefor, and provided, further, that if the Premises be damaged, destroyed or rendered untenantable for their accustomed uses by fire or other casualty to the extent of more than fifty percent (50%) of the cost to replace the Premises during the last [CONFIDENTIAL] year of the Lease Term, then Lessee Landlord OR TENANT shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damagecasualty by giving to THE OTHER PARTY [CONFIDENTIAL], within sixty (60) days after the happening of such casualty, written notice of such termination. In making If such notice be given, this Lease shall terminate and Landlord shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the date of such casualty. Any time that Landlord repairs called or restores the Premises after damage or destruction, then Tenant shall promptly repair or replace its stock in trade, fixtures, furnishings, furniture, carpeting, wall covering, floor covering, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Notwithstanding anything to the contrary set forth herein, in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials the event all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term Center shall be damaged or destroyed by fire or other cause (notwithstanding that the Leased Premises are inoperable may be unaffected thereby), to the extent the cost of restoration thereof would exceed TWENTY-FIVE PERCENT (25%) of the amount it would have cost to replace the Center in its entirety at the time such damage or unfit for occupancydestruction occurred, or usethen Landlord may terminate this Lease by giving Tenant thirty (30) days prior notice of Landlord's election to do so, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which notice shall be credited on the next ensuing paymentsgiven, if anyat all, but if no further payments are to be made, any within ninety (90) days following the date of such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageoccurrence. In the event of minor damage to any part the termination of the Leased Premisesthis Lease as aforesaid, and if this Lease shall cease thirty (30) days after such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises notice is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessorgiven, and the party or parties causing said damage. Any damage rent and other charges hereunder shall be adjusted as of that is not covered by an insurance company will be the liability of Lesseedate.
Appears in 1 contract
Samples: Success Bancshares Inc
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto the Facility is so damaged by firefire or other casualty, casualty or structural defects that then Port shall repair the same provided that funds for such repairs are appropriated by Port, in its sole discretion, for such purpose and that such repairs can be made within two hundred ten (210) days after the date of such damage (the "Repair Period"). In the event such conditions are satisfied, this Lease shall remain in full force and effect except that so long as such damage or casualty is not attributable to Tenant, its Agents or Invitees, Tenant shall be entitled to a proportionate reduction of Base Rent during the Repair Period based upon the extent to which such damage and the making of such repairs materially interferes with Tenant's use or occupancy of the Premises less any insurance proceeds Tenant receives, or would have received if Tenant complied with the requirements set forth in Section 16 above, which proceeds are to be applied against the payment of Rent during any Repair Period. Port shall use its commercially reasonable efforts to notify Tenant within ninety (90) days after the date of such damage whether or not such repairs can be made within the Repair Period, and Port's determination thereof shall be binding on Tenant. If such repairs cannot be used for Lessee’s purposesmade within the Repair Period, then Lessee Port shall have the right option to notify Tenant of: (a) Port's intention to repair such damage and diligently prosecute such repairs to completion within days following damage a reasonable period after the Repair Period, subject to elect by notice to Lessor appropriation of funds, in which event this Lease shall continue in full force and effect and the monthly Base Rent shall be reduced as provided herein; or (b) Port's election to terminate this Agreement Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Port. In case of termination, the monthly Base Rent shall be reduced as provided above, and Tenant shall pay such reduced monthly Base Rent up to the date of termination. If Port elects not to appropriate funds for such repair, Port shall give written notice to Tenant within sixty (60) days after the date Port elects not to appropriate funds of its election to terminate this Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Port. In case of termination, the monthly Base Rent shall be reduced as provided above, and Tenant shall pay such reduced monthly Base Rent up to the date of termination. If at any time during the last six (6) months of the Term of this Lease, the Premises or the Facility is damaged or destroyed, then either Port or Tenant may terminate this Lease by giving written notice to the other party of its election to do so within thirty (30) days after the date of the occurrence of such damage; provided, however, Tenant may terminate only if such damage or destruction substantially impairs its use or occupancy of the Premises for the Permitted Use. In making The effective date of termination shall be specified in the repairs called for in this paragraphnotice of termination, Lessor which date shall not be liable for any delays resulting more than thirty (30) days from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion date of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposesnotice. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only Notwithstanding anything to the matters aforesaidcontrary in this Lease, but also (i) Port shall have no obligation to repair the Premises or the Facility, (ii) Tenant shall not be entitled to any occurrence which is beyond Lessee’s reasonable control abatement of Rent, and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however(iii) Tenant shall not be entitled to terminate this Lease, in the event the damage or destruction is attributable to any act or omission of total Tenant, its Agents, or substantial destruction to the Leased Premises that in Invitees. In no event shall Xxxxxx’s obligation Port be required to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor repair any damage to Tenant's Property or any part of paneling, decorations, railings, floor coverings, or any Improvements or other Alterations installed or made on the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage by or at the cost expense of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinancesTenant. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance companyFacility is substantially damaged or destroyed and Port intends to rebuild for public purposes inconsistent with this Lease, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including Port may terminate this Lease upon written notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeTenant.
Appears in 1 contract
Samples: Lease Agreement
Damage and Destruction. If (a) Notwithstanding the Leased provisions of Article 24 of the Xxxxxxxxx, which are incorporated herein by reference, in the event of damage or destruction to the Sublease Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same which cannot reasonably be used for Lessee’s purposesrepaired by Overlandlord within one hundred eighty (180) days after the date of damage, then Lessee shall have the right within days following damage to elect Subtenant may elect, by giving written notice to Lessor Sublandlord within seven (7) days of receipt by Subtenant of a copy of Overlandlord's notice (hereinafter "Overlandlord's Notice") of the estimated date by which the Demised Premises and Tenant's Parking Area shall be substantially repaired, to terminate this Agreement Sublease as to all of the Sublease Premises effective as of the date of the occurrence of the casualty, and in the event that such notice is given this Sublease shall terminate at the expiration of said seven (7) day period. Sublandlord shall promptly furnish to Subtenant a copy of Overlandlord's Notice. If the estimated date set forth in Overlandlord's Notice is not more than one hundred eighty (180) days after the date of damage. In making the repairs called for in this paragraph, Lessor or Subtenant shall not have terminated this Sublease pursuant to the provisions of the first sentence of this subparagraph 10(a), then, if Overlandlord has not substantially repaired the Sublease Premises and/or Subtenant's Parking Area by the later of (j) one hundred and eighty (180) days after the date of such damage or (ii) the estimated date specified in Overlandlord's Notice, which period may be liable for any delays resulting from extended by not more than thirty (30) days by fire or other casualty, strikes, governmental restrictionslockouts or other labor difficulties, inability to obtain necessary unavailability of materials or labor or any other matters which are cause beyond the reasonable control of Lessor. Lessee Overlandlord, Subtenant may, within seven (7) days after the expiration of the applicable period, terminate this Sublease by a written notice as of the date specified therein which shall be relieved from paying rent and other charges during any portion not earlier than twenty (20) days after the date of the Lease Term that giving of such notice and unless Overlandlord shall have substantially repaired the Leased Sublease Premises are inoperable or unfit for occupancyand/or Subtenant's Parking Area before said termination date, or usethis Sublease shall terminate as of said date. If Subtenant does not terminate this Sublease as heretofore provided in this subparagraph 10(a), in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods Subtenant shall be credited on the next ensuing payments, if any, but if have no further payments are right to be made, any such advance payments shall be refunded terminate this Sublease pursuant to Lesseethis subparagraph 10(a). The provisions For purposes of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.this
Appears in 1 contract
Damage and Destruction. If (a) Subject to the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fireprovisions of subsection (b) below, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as each of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee parties shall be relieved from paying rent and other charges during any portion bound to proceed with the formation of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals Venture and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, howevercontribute, in the event case of total or substantial destruction CarrAmerica, the Property and, in the case of RREEF, the Contribution Amount, as required by the terms of this Agreement, without regard to the Leased Premises that in no event occurrence during the Contract Period of any damage to or destruction of the Property (“Contract Period Damage”). CarrAmerica shall Xxxxxx’s obligation to restorebe responsible for the payment of any deductible under the applicable insurance policies covering any such Contract Period Damage, replace or rebuild exceed an amount equal and any insurance proceeds collected by CarrAmerica prior to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged Closing Date as a result of any neglect Contract Period Damage and not expended by CarrAmerica on repair, replacement or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy restoration of the Leased Premises, then Lessee Property pursuant to subsection (c) below shall be primarily responsible for seeing that delivered to the proper claims are placed with Xxxxxx’s Venture at Closing. Subject to subsection (d) below, CarrAmerica shall assign to the Venture at Closing the right to receive any insurance companyproceeds attributable to such Contract Period Damage and not theretofore collected by CarrAmerica and, to implement such assignment, shall execute such documents as RREEF shall reasonably request. CarrAmerica promptly shall deliver to the Venture any such insurance proceeds as shall be collected by CarrAmerica on or following the damaging party’s insurance company, and shall furthermore be responsible for seeing that Closing Date. In the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that event any Contract Period Damage is not covered by an insurance company will insurance, subject to subsection (b) below, CarrAmerica shall be responsible for the liability costs of Lesseerepairing any such damage to the Property; provided, however, if such uninsured Contract Period Damage exceeds $1,000,000, CarrAmerica may instead elect to terminate this Agreement by written notice to RREEF given prior to Closing. Upon any termination of this Agreement pursuant to this subsection, the Deposit (including any interest accrued thereon) shall be returned to RREEF, and neither party shall have any further rights or obligations hereunder, except as provided in Sections 3.02, 9.03, 9.15 and 9.17 hereof.
Appears in 1 contract
Samples: Formation and Contribution Agreement (Carramerica Realty Operating Partnership Lp)
Damage and Destruction. If the Leased Premises premises are hereafter damaged or any part thereof destroyed or any appurtenance thereto rendered partially untenantable for their accustomed use by fire or other casualty insured under the coverage which Landlord is so damaged by fireobligated to carry pursuant to Section 11.1 hereof, casualty or structural defects that Landlord shall promptly repair the same canto substantially the condition which they were in immediately prior to the happening of such casualty (excluding stock in trade, fixtures, furniture, furnishings, carpeting, floor covering, wall covering, drapes, ceiling and equipment), and from the date of such casualty until the Premises are so repaired and restored, the Minimum Monthly Rent payments payable hereunder shall abatx xx such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises; and in the event the kitchen area in the Premises is rendered unusable as a result of such damage or destruction, all rent, except Real Estate Taxes, shall abatx (xxless such damage or destruction was caused by the Tenant, its agents, employees or contractors in which event rent shall not abatx) xxtil the kitchen area is again rendered usable; provided, however, that Landlord shall not be used obligated to repair and restore if such casualty is not covered by the insurance which Landlord is obligated to carry pursuant to Section 11.1 hereof and no portion of the Minimum Monthly Rent and other payments payable hereunder shall abatx, xxd provided, further, that Landlord shall not be obligated to expend for Lessee’s purposesany repair or restoration an amount in excess of the insurance proceeds recovered by Landlord therefor, and provided, further, that if the Premises be damaged, destroyed or rendered untenantable for their accustomed uses by fire or other casualty to the extent of more than fifty percent (50%) of the cost to replace the Premises during the last three (3) years of the Lease Term, then Lessee Landlord or Tenant shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damagecasualty by giving to the other party within sixty (60) days after the happening of such casualty, written notice of such termination. In making If such notice be given, this Lease shall terminate and Landlord shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the date of such casualty. Any time that Landlord repairs called or restores the Premises after damage or destruction, then Tenant shall promptly repair or replace its stock in trade, fixtures, furnishings, furniture, carpeting, wall covering, floor covering, drapes, ceiling and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Notwithstanding anything to the contrary set forth herein, in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials the event all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term Center shall be damaged or destroyed by fire or other cause (notwithstanding that the Leased Premises are inoperable may be unaffected thereby), to the extent the cost of restoration thereof would exceed fifteen percent (15%) of the amount it would have cost to replace the Center in its entirety at the time such damage or unfit for occupancydestruction occurred, or usethen Landlord may terminate this Lease by giving Tenant thirty (30) days prior notice of Landlord's election to do so, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which notice shall be credited on the next ensuing paymentsgiven, if anyat all, but if no further payments are to be made, any within ninety (90) days following the date of such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageoccurrence. In the event of minor damage the termination of this Lease as aforesaid, this Lease shall cease thirty (30) days after such notice is given, and the rent and other charges hereunder shall be adjusted as of that date. Notwithstanding anything to the contrary set forth herein, in the event all or any part portion of the Leased PremisesCenter shall be damaged or destroyed by fire or other cause (notwithstanding that the Premises may be unaffected thereby), and if such damage does not render to the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at extent the cost of Lesseerestoration thereof would exceed thirty-five percent (35%) of the amount it would have cost to replace the Center in its entirety at the time such damage or destruction occurred, particularly items then Tenant may terminate this Lease by giving Landlord thirty (30) days prior notice of Tenant's election to do so, which need immediate attention and which Lessee and/or their employees can do and perform on their ownnotice shall be given, including but not limited to: the replacement if at all, within ninety (90) days following date of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinancessuch occurrence. In the event the structure of the Leased Premises termination of this Lease as aforesaid, this Lease shall cease thirty (30) days after such notice is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessorgiven, and the party or parties causing said damage. Any damage rent and other charges hereunder shall be adjusted as of that is not covered by an insurance company will be the liability of Lesseedate.
Appears in 1 contract
Samples: Lease (Hotel Discovery Inc)
Damage and Destruction. If In the Leased event the Premises are damaged by any peril covered AT LEAST NINETY PERCENT (90%) by standard policies of fire and extended coverage insurance to an extent which is less than fifty percent (50%) of the cost of replacement of the Premises, the damage to that portion of the Premises which Landlord is obligated to insure pursuant to the immediately preceding Section hereof, shall promptly be repaired by Landlord, at Landlord's expense, but in no event shall Landlord be required to repair or replace Tenant's stock-in-trade, trade fixtures, furniture, furnishings, special equipment and other items of construction and personal property which Tenant is required to insure pursuant to the immediately preceding Section hereof. In the event of such damage and (a) Landlord is not required to repair as provided herein, or (b) the Premises are damaged to the extent of fifty percent (50%) or more of the cost of replacement of the Premises, or (c) the Building is damaged to the extent of fifty percent (50%) or more of the cost of replacement, or (d) such damage is twenty-five percent (25%) or more of the cost of replacement of the Premises and the same occurs during the last year of the initial term or any extensions or renewal terms of this Lease, then, in any such event(s), Landlord may elect either to repair or rebuild the Premises or any part thereof the Building of which the Premises are a part, as the case may be, or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as Lease upon giving notice of such election, in writing, to Tenant within ninety (90) days after the happening of the date of event causing such damage. In making If such damage, repairing or rebuilding shall render the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or useuntenantable, in whole or in part, for Lessee’s purposes. Rentals a proportionate abatement of the rent and other charges paid in advance for any such periods additional rent stipulated herein shall be credited allowed from the date such damage occurred until the date Landlord completes the repairs or rebuilding, said proportion to be computed on the next ensuing paymentsbasis of the gross LEASEABLE area of the space rendered UNUSABLE TO TENANT. If Landlord is required or elects to repair the Premises as provided herein, if any, but if no further payments are Tenant shall repair its floor and wall COVERINGS which Tenant is obligated to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only insure pursuant to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or useterms hereof, in whole a manner and to at least a condition equal to that prior to such damage or in partdestruction. In addition, for Lessee’s purposes. It Tenant is understood, however, hereby given the sole option to terminate this Lease in the event of total the repairing or substantial destruction rebuilding to be effected by Landlord and required hereunder cannot be completed within one hundred twenty (120) days from the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum date of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part occurrence of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseedestruction OR IN THE EVENT SUCH DAMAGE IS TWENTY-FIVE PERCENT (25%) OR MORE OF THE COST OF REPLACEMENT OF THE PREMISES AND THE SAME OCCURS DURING THE LAST YEAR OF THE INITIAL TERM.
Appears in 1 contract
Samples: Etoys Inc
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto is so premises shall be damaged by fire, the elements, accident or other casualty (any of such causes being referred to as a “casualty”), but the premises shall not be thereby rendered wholly or structural defects that partially untenantable, then, subject to the provisions of this paragraph 22, Landlord shall promptly cause such damage to be repaired to the same cancondition as when possession was delivered and there shall be no abatement of rent. If, as the result of casualty, the premises shall be rented wholly or partially untenantable, then, subject to the provisions of this paragraph 22, Landlord shall cause such damage to be repaired to the same condition as when possession was delivered and all rent (other than any additional rent due Landlord by reason of Tenant’s failure to perform any of its obligations hereunder) shall be abated proportionately as to the portion of the premises rendered untenantable during the period of such untenantability. All such repairs shall be made at the expense of Landlord (unless said damages are the result of the intentional acts or negligence on the part of the Tenant or its employees or invitees); provided, however, that Landlord shall not be used liable for Lesseeinterruption to Tenant’s purposes, then Lessee shall have the right within days following business or for damage to or replacement or repair of Tenant’s personal property or to any leasehold improvements installed in the premises by or on behalf of Tenant, all of which damage, replacement or repair shall be undertaken and completed by Tenant promptly. If the premises are rendered wholly untenantable, or damaged as a result of any cause which is not covered by Landlord’s insurance or damaged or destroyed in whole or in part or if Landlord’s building is damaged to the extent of 50% or more of Landlord’s floor area, then, in any of such event, Landlord may elect by notice to Lessor to terminate this Agreement Lease by giving to Tenant notice of such election within ninety (90) days after the occurrence of such event. If such notice is given, the rights and obligations of the parties shall cease as of the date of such damage. In making the repairs called for in this paragraphnotice, Lessor shall not be liable for and rental (other than any delays resulting from strikes, governmental restrictions, inability additional rental due Landlord by reason of Tenant’s failure to obtain necessary materials or labor or other matters which are beyond the reasonable control perform any of Lessor. Lessee its obligations hereunder) shall be relieved from paying rent and other charges during any portion adjusted as of the Lease Term date of such termination. If Landlord’s building shall be so substantially damaged that the Leased Premises are inoperable or unfit for occupancy, or useit is reasonably necessary, in whole or Landlord’s sole judgment, to demolish same for the purpose of reconstruction, Landlord may demolish the same, in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which event the rent shall be credited on abated to the next ensuing paymentssame extent as if the premises were rendered untenantable by a casualty. If Landlord does not elect to terminate this Lease pursuant to this paragraph 22, if anyLandlord shall, but if no further payments are subject to be madethe prior rights of any mortgagee, disburse and apply any such advance payments insurance proceeds received by Landlord to the restoration and rebuilding of Landlord’s building in accordance with this paragraph 22. All insurance proceeds paid by Landlord’s insurer shall belong to and shall be refunded payable to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeLandlord.
Appears in 1 contract
Samples: Business Lease Agreement (Enviro Technologies, Inc.)
Damage and Destruction. If 11.1 In the Leased Premises event of any destruction, loss or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that Premises, Office Building or Common Areas (a "Casualty") due to fire, flood, earthquake or other casualty, Tenant shall give immediate Notice thereof to Landlord. Landlord shall, subject to the Leased Premises are inoperable provisions of Section 11.2 below and to Unavoidable Delays, at Landlord's expense (unless the destruction, loss or unfit for occupancy, damage was caused by an act or useomission of Tenant or any other Tenant Party, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which event the repairs shall be credited on at Tenant's expense), as soon as commercially possible proceed to repair the next ensuing paymentsPremises, if anyTenant's Fitout, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only Office Building or Common Areas or the portions thereof so affected as nearly as practical to the matters aforesaid, but also same condition that existed immediately prior to any the occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understoodof such Casualty; provided, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation the scope of Landlord's repair obligations exceed the scope of Tenant's Fitout in initially constructing the Office Building and common areas. At the same time, Tenant may, at its own expense, cause to restorebe repaired any lost, replace damaged or rebuild exceed an amount equal destroyed Alterations and Tenant's Equipment. Tenant shall comply with the provisions of Sections 7.2 (b) hereof in making such repairs. Except as otherwise provided in Section 11.2 below, no Casualty occurring to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to Premises or Office Building Project or any part thereof, shall (a) relieve Tenant from any of its obligations under this Lease, (b) constitute an actual or constructive eviction, (c) entitle or permit Tenant to terminate this Lease or to quit or surrender the Leased Premises or any part thereof, or (d) entitle Tenant to receive any suspension, diminution, abatement or reduction of Rent or any of its other obligations hereunder, and Tenant hereby waives any rights now or hereafter conferred upon it by statute or otherwise to that effect, and agrees that such event shall be governed by the terms of this Lease; provided, however, that to the extent Landlord received and retained proceeds of any loss of rents insurance attributable to the Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee Tenant shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance companyentitled to a credit therefor against its obligations under this Lease to pay Rent. Notwithstanding any other provision of Section 11.1, or the damaging party’s insurance company, and Landlord shall furthermore be responsible for seeing that the Building is safeguarded with respect to said repair all damage and that all proper notices with respect to said damage, are made in from a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseecasualty within 180 days.
Appears in 1 contract
Samples: Office Building Lease (Source Interlink Companies Inc)
Damage and Destruction. If the Leased Premises are hereafter damaged or destroyed or rendered partially untenantable for their accustomed use by fire or other casualty and such fire or other casualty, Landlord shall, unless this Lease is terminated as below, promptly repair the same to substantially the condition which they were in immediately prior to the happenings of such casualty (excluding stock in trade, fixtures, furniture, furnishings, carpeting, floor covering, wall covering, drapes and equipment), and from the date of such casualty until the Premises are so repaired and restored, the monthly Rent hereunder shall xxxxx in such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises; provided, however, Landlord shall not be obligated to expend for such repair or restoration an amount in excess of the insurance proceeds received by Landlord as a result of such damage. Landlord’s obligation to rebuild is contingent upon its receipt of insurance proceeds sufficient to make such repairs. In the event any mortgagee or lender requires such sums to be applied to any debt, Landlord will not be deemed to have received the proceeds. Notwithstanding the above, if the Premises or any part thereof material portion of the Project is wholly or any appurtenance thereto is so damaged partially damaged, destroyed or rendered untenantable for their accustomed use by fire, fire or other casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damage. In making casualty by giving to Tenant, within ninety (90) days after the repairs called for in this paragraphhappening of such casualty, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control written notice of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damagetermination. In the event of minor damage that Landlord is unable or unwilling to any part of rebuild the Leased PremisesPremises in their entirety to the condition existing prior to the casualty, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged whether as a result of failure to obtain insurance proceeds, failure to obtain sufficient insurance proceeds or for any neglect or negligence of Lesseeother reason, its employeeswithin ninety (90) days after the casualty, agentsthen, inviteesunless the casualty was caused by Tenant, or any independent contractors serving Lessee or in any way Tenant shall have the right to terminate this Lease effective as a result of Xxxxxx’s use and occupancy of the Leased Premisesdate of such casualty by giving to Landlord written notice of such termination unless the casualty was caused by Tenant in which case Tenant will have no right to terminate this Lease. If any notice of termination is given by either party, this Lease shall terminate and provided Tenant is not in default hereunder, Landlord shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the date of such casualty. If said notice is not given and Landlord is required or elects to repair or restore the Premises as herein provided and this Lease is not terminated by Tenant, then Lessee Tenant shall be primarily responsible for seeing that repair or replace its stock in trade fixtures, furnishings, furniture, carpeting, wall covering, floor covering, drapes and equipment to the proper claims are placed with Xxxxxx’s insurance company, or same condition as they were in immediately prior to the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseecasualty.
Appears in 1 contract
Samples: Lease Agreement (Precision Optics Corporation, Inc.)
Damage and Destruction. If during the Lease Term, the Leased Premises or any the Building becomes damaged or destroyed in whole or in part thereof or any appurtenance thereto is so damaged by fire, other casualty or structural defects any other cause (except condemnation), Tenant will immediately notify Landlord of such event. This Lease will remain in full force and effect, except that the same cannot Rent will be used abated proportionately to the extent and for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials period that all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any a portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or userendered untenantable. If Landlord determines, in whole its sole discretion, that the damage or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal and/or to the sum Building is so extensive that repair or restoration is uneconomical, or if Landlord otherwise decides not to repair or restore the Building, then this Lease will terminate on the first day after Landlord gives Tenant written notice of such termination. The Rent then will be adjusted and paid to the date of the damage or destruction. Tenant will immediately vacate and surrender the Leased Premises upon such termination. Tenant, however, will not be released from liability for any damage caused by Tenant or its agents or employees, or released from responsibility for any of its obligations under this Lease for the period before such termination. If Landlord decides to repair or restore the Leased Premises and/or the Building, it will do so with reasonable speed, subject to reasonable delays for: (a) adjusting losses under insurance proceeds available for reconstruction with respect to said damagepolicies; (b) labor troubles; or (c) any other cause beyond Landlord's reasonable control. In Notwithstanding the event provisions of minor damage to any part this Paragraph VI, within sixty (60) days after the date of material destruction of the Leased Premises, and if such damage does not render Landlord shall obtain from Landlord's architect or contractor an estimate of the time which will be required to repair the Leased Premises unusable for Lessee’s purposes, Lessee Premises. Landlord shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according communicate said estimate to all local, state or federal laws, rules, regulations or ordinancesTenant. In the event that said estimate of time exceeds one hundred eighty (180) days from the structure date of such destruction, then Tenant shall have the right, within ten (10) days after receipt of said estimate, to terminate this Lease without any further liability or obligation on the part of the Leased Premises is damaged as a result parties hereto for obligations thereafter accruing, provided that Tenant shall give written notice to Landlord within said ten (10) days and shall not be in breach or default of any neglect covenant or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building condition by which Tenant is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeobligated under this Lease.
Appears in 1 contract
Damage and Destruction. If the Leased Sublease Premises are damaged or any part thereof or any appurtenance thereto destroyed, but the Prime Lease is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposesterminated, then Lessee this Sublease shall continue, and Subtenant’s right to an abatement of the Base Rent due under this Sublease and/or repairs to the Sublease Premises from Prime Landlord under the Prime Lease shall be dependent upon whether Sublandlord, with respect to the Sublease Premises, receives an abatement of Base Rent or such repairs under the Prime Lease; provided, however, Subtenant may cancel this Sublease by reason of a casualty only in those instances where Sublandlord is entitled to terminate the Prime Lease pursuant to Article 11 of the Prime Lease. In order to enable Sublandlord to make a more informed decision with respect to whether to cancel the Prime Lease in the circumstances described in the preceding sentence, Subtenant shall, by written notice to Sublandlord, make an irrevocable election to cancel or not cancel this Sublease no later than five (5) business days after the date Subtenant is first notified by Sublandlord of Sublandlord’s right to so terminate the Prime Lease. If Subtenant fails to make such election, Subtenant shall be deemed to have elected not to cancel this Sublease. If Subtenant has elected not to cancel this Sublease, but either Sublandlord or Prime Landlord nevertheless elects to cancel the Prime Lease, then this Sublease shall terminate as otherwise provided herein. To the extent that Sublandlord receives such an abatement of Base Rent under the Prime Lease with respect to the Sublease Premises, such abatement of Base Rent shall be passed on to Subtenant (which shall in no event exceed the amount of Base Rent Subtenant shall have the right within days following damage to elect paid or as shall be payable under this Sublease for such period), after retention by notice to Lessor to terminate this Agreement as Sublandlord of the date actual out of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent pocket costs and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentsexpense, if any, but if no further payments are in obtaining such abatement. All other Base Rent and other sums due under this Sublease shall continue to be madedue and payable as provided under this Sublease, unaffected by such damage or destruction or reduction in Base Rent. Prime Landlord or Sublandlord may exercise any such advance payments shall be refunded and all rights described in the Prime Lease to Lessee. The provisions of this paragraph extend not only to terminate the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, Prime Lease in the event of total damage or substantial destruction destruction, without regard to the Leased Premises that in no event shall Xxxxxx’s obligation effect of such termination on this Sublease. If Prime Landlord is required, or elects, to restorerebuild or restore improvements, replace or rebuild exceed an amount equal alterations, additions and the like under the Prime Lease, then Prime Landlord and its respective employees, agents and contractors may have access to the sum Sublease Premises and may store materials in or about the Sublease Premises as reasonably necessary for Prime Landlord to complete such rebuilding or repair, without the same constituting a constructive eviction or giving Subtenant any right to terminate this Sublease or offset or axxxx rent, except to the limited extent Base Rent may be reduced under the conditions expressly set forth above. Subtenant hereby waives all claims for damages for injury, inconvenience, or interference with quiet enjoyment or Subtenant’s business, or any other loss occasioned by Prime Landlord’s work or entry under any provision of this Sublease. If the Sublease is not otherwise terminated by either Sublandlord or Subtenant as provided in this Section 9, Sublandlord agrees to provide Subtenant all insurance proceeds available for reconstruction actually received with respect to said damage. In the event of minor damage Subtenant Improvements (along with Sublandlord’s deductible applicable thereto) so as to any part of the Leased Premises, and if allow Subtenant to repair and/or rebuild such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that Subtenant Improvements as the same are properly disposed of according existed immediately prior to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseesuch casualty event.
Appears in 1 contract
Samples: Accuride Corp
Damage and Destruction. If The last two paragraphs of Article VI of the Lease shall be amended to read as follows: "Notwithstanding the preceding three (3) paragraphs of this Article VI, if Landlord or Tenant has the right to terminate the Lease pursuant to this Article VI due to damage or destruction to the Expanded Leased Premises or any part thereof or any appurtenance thereto is so damaged and Building D Expansion Space only (excluding the Second Expansion Space, the VAD Space, the 1997 Additional Space and the 1998 Additional Space) by fire, casualty other casualty, or structural defects that the same cannot be used for Lessee’s purposesany other cause (except condemnation), then Lessee Landlord or Tenant automatically shall have the right within days following damage pursuant to elect by notice to Lessor this Article VI to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that with respect to the Leased Premises are inoperable Second Expansion Space, the VAD Space, the 1997 Additional Space and the 1998 Additional Space regardless of whether the Second Expansion Space and/or the VAD Space and/or the 1997 Additional Space and/or the 1998 Additional Space has suffered any damage or unfit for occupancy, or use, in whole or in part, for Lessee’s purposesdestruction. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentsHowever, if any, but if no further payments are Landlord or Tenant has the right to be made, any such advance payments shall be refunded terminate the Lease pursuant to Lessee. The provisions of this paragraph extend not only Article VI due to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, damage or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Second Expansion Space and/or the VAD Space and/or the 1997 Additional Space and/or the 1998 Additional Space only, (excluding the Expanded Leased Premises that in no event and Building D Expansion Space), Landlord or Tenant shall Xxxxxx’s obligation not have any right to restore, replace or rebuild exceed an amount equal to terminate the sum of the insurance proceeds available for reconstruction Lease with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Expanded Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at and Building D Expansion Space. If Landlord or Tenant duly terminates the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded Lease under Article VI with respect to said damage the Second Expansion Space and/or the VAD Space and/or the 1997 Additional Space and/or the 1998 Additional Space, the Lease shall remain in full force and that all proper notices effect with respect to said damage, are made in a timely manner, including notice to Lessorthe Expanded Leased Premises and Building D Expansion Space, and the party Second Expansion Space and/or the VAD Space and/or the 1997 Additional Space and/or the 1998 Additional Space shall be stricken from the definition of "Leased Premises" under the Lease. Upon such damage or destruction to the Second Expansion Space and/or the VAD Space and/or the 1997 Additional Space and/or the 1998 Additional Space, the parties causing said damageagree to enter into an amendment to the Lease setting forth the reduced Leased Premises and other related changes to the Lease, including, without limitation, reduction of Basic Annual Rent and Tenant's Portion of Common Area Expenses, Taxes and Insurance. Any Notwithstanding anything set forth above in this Article VI, if Landlord or Tenant has the right to terminate the Lease pursuant to this Article VI due to damage that is or destruction to one of the Second Expansion Space or the VAD Space or the 1997 Additional Space or the 1998 Additional Space, then Landlord or Tenant shall not covered by an insurance company will be have the liability of Lesseeright to terminate the Lease under this provision with respect to the non-damaged Space in Building B, or with respect to the Expanded Leased Premises."
Appears in 1 contract
Samples: Medimmune Inc /De
Damage and Destruction. If 8.01 LESSEE covenants and agrees that in the Leased Premises event of damage to or destruction of the LEASED PREMISES, or any part thereof thereof, during the LEASE TERM, by fire or other casualty, LESSEE shall immediately notify LESSOR. LESSOR shall, but only to the extent insurance proceeds are available therefor, proceed to restore, repair, rebuild or replace the LEASED PREMISES to the same condition and character as the LEASED PREMISES are immediately prior to such damage or destruction; provided that LESSOR may elect to alter the LEASED PREMISES as long as the LEASED PREMISES continue to be suitable for use for LESSEE's described purpose under this LEASE. Any monies paid by any companies issuing the policies of insurance required by ARTICLE VI hereof shall be paid to LESSOR and used for the purpose of repairing, reconstructing or restoring the LEASED PREMISES. Any excess funds not so used shall be paid to LESSEE (unless required to be paid to any mortgagee of the LEASED PREMISES pursuant to any mortgage, in which event such monies shall be paid to such mortgagee). Any fixture acquired as a replacement hereunder, or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or useitem acquired, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance out of insurance proceeds under this ARTICLE VIII, whether or not a replacement of or substitute for any such periods shall be credited on the next ensuing paymentsdamaged or destroyed fixture, if any, but if no further payments are to be made, any the insurance proceeds with which such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or usefixture was purchased, in whole or in part, for Lessee’s purposeswere derived from insurance on property which was part of the LEASED PREMISES, shall be and become part of the LEASED PREMISES and subject to this LEASE. It is understoodSuch restoration, howeverrepairs, in replacements or rebuilding shall be commenced promptly and prosecuted with reasonable diligence. In the event case of total damage involving a loss of $100,000 or substantial destruction less, at LESSOR's option, and provided such payment would not be contrary to the Leased Premises that in no event shall Xxxxxx’s obligation to restoreprovisions of any mortgage on the LEASED PREMISES, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect may be paid to said damage. In LESSEE and applied to the event payment of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lesseethe aforesaid restoration, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their ownrepairs, replacements or rebuilding, including but not limited to: expenditures made for temporary repairs or for the replacement protection of light bulbsproperty pending the completion of permanent restoration, normal repair and cleaning of windowsrepairs, cleaning and clearing of toiletsreplacements, etcor rebuilding or to prevent interference with the business operated thereon. Lessee If the insurance proceeds shall promptly and properly remove be insufficient to pay all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure costs of the Leased Premises is damaged as a result of any neglect or negligence of Lesseerestoration, its employeesat LESSOR's option, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use LESSEE shall immediately pay the deficiency and occupancy LESSOR shall proceed to complete the restoration upon payment by LESSEE of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseecost thereof.
Appears in 1 contract
Samples: Lease Agreement (Fti Consulting Inc)
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto is so damaged by firefire or other casualty, casualty or structural defects that then Port shall repair the same provided that funds for such repairs are appropriated by Port, in its sole discretion, for such purpose and that such repairs can be made within two hundred ten (210) days after the date of such damage (the "Repair Period"). In the event such conditions are satisfied, this MOU shall remain in full force and effect except that so long as such damage or casualty is not attributable to DOE, its Agents or Invitees, DOE shall be entitled to a proportionate reduction of Rent during the Repair Period based upon the extent to which such damage and the making of such repairs materially interferes with DOE's use or occupancy of the Premises less any insurance proceeds DOE receives, which proceeds are to be applied against the payment of Rent during any Repair Period. Port shall use its commercially reasonable efforts to notify DOE within ninety (90) days after the date of such damage whether or not such repairs can be made within the Repair Period, and Port's determination thereof shall be binding on DOE. If such repairs cannot be used for Lessee’s purposesmade within the Repair Period, then Lessee Port shall have the right option to notify DOE of: (a) Port's intention to repair such damage and diligently prosecute such repairs to completion within days following damage a reasonable period after the Repair Period, subject to elect by notice to Lessor appropriation of funds, in which event this MOU shall continue in full force and effect and the monthly Rent shall be reduced as provided herein; or (b) Port's election to terminate this Agreement MOU as of the date mutually agreed by the parties. In case of termination, the monthly Rent shall be reduced as provided above, and DOE shall pay such reduced monthly Rent up to the date of termination. If Port elects not to appropriate funds for such repair, Port shall give written notice to DOE within sixty (60) days after the date Port elects not to appropriate funds of its election to terminate this MOU as of the date mutually agreed by the parties. In case of termination, the monthly Rent shall be reduced as provided above, and DOE shall pay such reduced monthly Rent up to the date of termination. If at any time during the last six (6) months of the Term of this MOU, the Premises is damaged or destroyed, then either Port or DOE may terminate this MOU by giving written notice to the other party of its election to do so within thirty (30) days after the date of the occurrence of such damage; provided, however, DOE may terminate only if such damage or destruction substantially impairs its use or occupancy of the Premises for the Permitted Use. In making The effective date of termination shall be specified in the repairs called for in this paragraphnotice of termination, Lessor which date shall not be liable for any delays resulting more than thirty (30) days from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion date of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposesnotice. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only Notwithstanding anything to the matters aforesaidcontrary in this MOU, but also (i) Port shall have no obligation to repair the Premises, (ii) DOE shall not be entitled to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premisesabatement of Rent, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.and
Appears in 1 contract
Samples: City And
Damage and Destruction. If the Leased Premises Improvements should be damaged or any part thereof destroyed by fire or any appurtenance thereto is so damaged by fireother casualty, casualty or structural defects that the same cannot Tenant shall give immediate written notice to Landlord. Except as otherwise provided in this Article 12, Tenant shall be used for Lessee’s purposes, then Lessee shall have the right within days following obligated to repair all damage to elect the Improvements, any alterations made by notice to Lessor to terminate this Agreement Tenant and Tenant's Property existing as of the date of the damage (collectively, the "Existing Improvements"), regardless of whether or not such damageExisting Improvements are covered in full or in part by any insurance carried or required to be carried by Landlord or Tenant under this Lease and regardless of the length of time which will be required to complete such repairs. In making Notwithstanding the repairs called for in this paragraphforegoing, Lessor shall Tenant may elect not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials rebuild or labor restore the Existing Improvements or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Premises, and instead elect to terminate this Lease Term that in accordance with this Article 12 by written notice (a "Tenant Termination Notice") delivered to Landlord within thirty (30) days following the Leased Premises are inoperable or unfit for occupancy, or usedate of the damage, in whole or which event this Lease shall terminate as of the date specified in partsuch Tenant Termination Notice, for Lessee’s purposes. Rentals and other charges paid in advance for any which date shall not be less than sixty (60) days nor more than ninety (90) days after the date Landlord receives such periods Tenant Termination Notice; provided, however, Tenant may terminate this Lease pursuant to a Tenant Termination Notice only if the Building shall be credited on damaged and if Tenant's contractor has determined, and Tenant has specified in its Tenant Termination Notice, that one or more of the next ensuing paymentsfollowing conditions is present: (i) repairs cannot reasonably be completed within one hundred eighty (180) days after the issuance of all necessary permits by the appropriate governmental authority, if anyand Landlord has not objected to such determination by written notice to Tenant within thirty (30) days after the date Landlord receives such Tenant Termination Notice, but if no further payments are provided that Landlord may so object only if, in the reasonable judgment of a contractor reasonably selected by Landlord, repairs can be completed within one hundred eighty (180) days after the issuance of all necessary permits by the appropriate governmental authority; or (ii) the damage or condition arising as a result of such damage is not fully covered by the insurance carried or required to be madecarried by Landlord and Tenant under this Lease and the amount not covered by such insurance (including the amount of any deductibles) (the "Shortfall Amount") is greater than an amount (the "Tenant Contribution") equal to One Million and No/100 Dollars ($1,000,000.00), any Tenant has specified the Shortfall Amount in its Tenant Termination Notice, and Landlord has not notified Tenant in writing within thirty (30) days after the date Landlord receives such advance Tenant Termination Notice that Landlord will fund an amount (the "Landlord Difference") equal to the difference between the Shortfall Amount less the Tenant Contribution on a progress payment basis, which progress payments shall be refunded made by Landlord only after exhaustion of any available insurance proceeds and the Tenant Contribution which shall be funded by Tenant, provided that if Landlord elects to Lesseefund the Landlord Difference and if the Landlord Difference exceeds an amount equal to One Million and No/100 Dollars ($1,000,000.00), then Landlord shall provide security for Landlord's obligation to pay the Landlord Difference, which security shall be reasonably acceptable to Tenant. In the event that neither of the conditions specified in items (i) or (ii) of this Section 12 are present, Tenant shall not have the right to terminate this Lease pursuant to the terms of this Section 12 and any Tenant Termination Notice shall be null and void. If Tenant terminates this Lease pursuant to this Section 12, the Rent shall be apportioned and paid to the date of termination Prior to commencing any repairs, Tenant shall submit to Landlord, for Landlord's reasonable approval, any plans and specifications in connection with such repairs. Landlord shall disburse to Tenant the insurance proceeds received by Landlord for the Improvements from Landlord's insurance carrier during the repair to the Improvements pursuant to Landlord's reasonable disbursement process. In no event will Tenant be entitled to any abatement of Rent payable hereunder even if Tenant must vacate all or a portion of the Premises during such repair of the Existing Improvements, except to the extent of any loss of rent insurance proceeds actually recovered by Landlord. The provisions of this paragraph extend not only to the matters aforesaidLease, but also to any occurrence which is beyond Lessee’s reasonable control including this Article 12, constitute an express agreement between Landlord and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction Tenant with respect to said damage. In the event of minor any and all damage to to, or destruction of, all or any part of the Leased PremisesPremises or Improvements, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state any statute or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result State of any neglect or negligence of LesseeCalifornia, its employeesincluding, agentswithout limitation, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use Sections 1932(2) and occupancy 1933(4) of the Leased PremisesCalifornia Civil Code, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said any rights or obligations concerning damage and that all proper notices with respect to said damage, are made or destruction in a timely manner, including notice to Lessorthe absence of an express agreement between the parties, and any other statute or regulation, now or hereafter in effect, shall have no application to this Lease or to any damage or destruction to all or any part of the party Premises or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeImprovements.
Appears in 1 contract
Samples: Lease (Infonet Services Corp)
Damage and Destruction. (a) If the Leased Premises or any part thereof or any appurtenance thereto the Building is so damaged by fire, casualty earthquake, act of God, the elements or structural defects other casualty, Landlord shall promptly, but in no event later than thirty 00) days following the occurrence of such damage, give notice to Tenant stating the. number of days, in Landlord's reasonable judgment, that will be necessary to repair such damage. If such damage can substantially be repaired within one hundred twenty (120) days after the damage occurred, Landlord shall commence to repair such damage promptly and shall complete such repairs as soon as reasonably possible thereafter, subject to the provisions of this Section 22. During the making of such repairs by Landlord, this Lease shall remain in full force and effect, except that if the damage is not the result of the ______________________ intentional misconduct of Tenant, its agents, contractors, employees or invitees, Tenant shall be entitled to an abatement of Base Rent, while such repair is being made, in the proportion that the same Rentable Area of the Premises rendered unusable by such damage bears to the total Rentable Area of the Premises. If such damage cannot substantially be used for Lessee’s purposesrepaired within one hundred twenty (120) days after the damage, then Lessee as evidenced by a statement from Landlord's architect or general contractor to such effect, Landlord and Tenant shall each have the right option, exercisable at any time within thirty (30) days following damage to elect by after Landlord's notice to Lessor Tenant as provided above, to terminate this Agreement Lease This option to terminate shall be exercised, if at all, by Landlord or Tenant giving notice to the other party within such thirty (30) day period of its election to terminate this Lease, with such termination to be effective as of a date specified in such notice no later than thirty (30) days after the giving of such notice to the other party. If both parties elect to terminate this Lease, the termination date shall be the date specified in Landlord's notice. If either Landlord or Tenant elects to terminate this Lease by giving such notice of termination to the other party, this Lease and . all interest of Tenant in the Premises shall terminate on the date specified in such notice, and the Kent, proportionately abated as provided above, shall be paid up to the date of such termination, with. Landlord refunding to Tenant any Rent previously paid for any period of time subsequent to such date If neither party elects to terminate this Lease as provided above, Landlord promptly shall repair such damage, with this Lease continuing in full force and effect, but with the Base Rent proportionately abated as provided above. In making If Landlord is required to repair the repairs called Premises or the Building under this Section 22, Landlord shall repair at its cost any injury or damage to the Building and the. leasehold improvements in the Premises, and Tenant shall be responsible for and shall repair at its sole cost all trade fixtures, equipment, furniture and other property of Tenant in the Premises. Tenant waives any right to terminate this paragraphLease under Sections 1932__2) and 1933(4) of the California Civil Code, Lessor or under any similar Laws now or hereafter in effect. Tenant shall not be liable entitled to any compensation or damages from Landlord for damage to any delays resulting from strikesof Tenant's trade fixtures, governmental restrictions, inability to obtain necessary materials personal property or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in partequipment, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions loss of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, use of all or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such for any damage does not render to Tenant's business or profits, or for any disturbance to Tenant caused by any casualty or the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure restoration of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseefollowing such casualty.
Appears in 1 contract
Damage and Destruction. If at any time during the Term all or a portion of the Premises are damaged by a fire or other casualty, then Tenant shall promptly notify Landlord. Within 60 days after Landlord becomes aware of such damage, Landlord shall inform Tenant (the “Repair Estimate”) of the amount of time Landlord reasonably estimates to restore the Premises (including the restoration of any Alteration made by Landlord), except for modifications required by Applicable Laws, and excluding the repair, restoration or replacement of the fixtures, equipment, or Alterations made by Tenant or a Tenant Party. If the Leased Premises or any part thereof or any appurtenance thereto restoration time is so damaged by fire, casualty or structural defects that estimated to exceed 9 months from the same cannot be used for Lessee’s purposesdate of such damage, then Lessee shall have the right within days following damage to either Tenant or Landlord may elect by notice to Lessor to terminate this Agreement Lease effective as of the date of fire or other casualty by giving notice to the other within 15 days after Landlord’s notice, and Tenant shall promptly remove any salvageable personal property it seeks to retain from the Premises if Landlord deems the Premises safe for entry. In addition, Landlord shall have the right to terminate this Lease, if the loss is not covered by insurance, within 30 days of receiving notice of this fact. If this Lease is not, or cannot be, terminated in accordance with the foregoing, then, subject to receipt of sufficient insurance proceeds and delays due to Force Majeure, Landlord shall commence to restore the Premises (including any Alterations made by Landlord) to substantially the same condition that existed immediately prior to the fire or other casualty, except for modifications required by Applicable Laws, and excluding the repair, restoration or replacement of the fixtures, equipment, or Alterations made by Tenant or a Tenant Party. If neither party elects to terminate this Lease, but Landlord does not substantially complete the required repair and restoration within 60 days after the expiration of the estimated period of time set forth in the Repair Estimate, which period shall be extended to the extent of any Reconstruction Delays (hereinafter defined), then Tenant may terminate this Lease by written notice to Landlord within 10 days after the expiration of such 60 day period, as the same may be extended, but in any event prior to Landlord’s substantial completion of the required repair and restoration. For purposes of this Lease, the term “Reconstruction Delays” shall mean any delays caused by Tenant or events of Force Majeure. Notwithstanding the foregoing, each of Tenant (unless the damage was caused by Tenant’s negligence or intentional act) and Landlord may terminate this Lease if the Premises are damaged by a fire or other casualty during the last year of the Term and Landlord reasonably estimates that it will take more than 3 months to repair such damage. In making Rent shall be abated from the repairs called for time of a fire or other casualty until Landlord’s repair and restoration obligations are completed by the percentage equal to the area of the Premises that is untenantable, if any, divided by the total area of the Premises. Such abatement shall be the sole remedy of Tenant, and except as provided in this paragraphSection, Lessor Tenant waives any right to terminate this Lease by reason of damage or casualty loss. Landlord shall not be liable for any delays resulting from strikes, governmental restrictions, inability inconvenience to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancyTenant, or use, in whole or in part, for Lesseeinjury to Tenant’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or business resulting in any way as from a result fire or other casualty or the repair thereof. Tenant shall not interfere with or delay, and instead cooperate with Landlord, in Landlord’s completion of XxxxxxLandlord’s use repair and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing restoration obligations. Tenant agrees that the proper claims are placed with Xxxxxx’s insurance company, terms of this Section shall govern any damage or the damaging party’s insurance company, destruction and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party accordingly supersede any contrary statute or parties causing said damage. Any damage that is not covered by an insurance company will be the liability rule of Lesseelaw.
Appears in 1 contract
Samples: Lease (Repro Med Systems Inc)
Damage and Destruction. a. Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the Leased Premises or are only partially damaged and if the proceeds received by Landlord from the insurance policies described in Paragraph 15b (including the deductible amounts to be paid by Tenant, if any) are sufficient to pay for the necessary repairs, this Lease shall remain in effect and Landlord shall repair the damage as soon as reasonably possible. Landlord may elect to repair any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to Tenant's fixtures, equipment, or improvements. If the insurance proceeds received by Landlord (including the deductible amounts to be paid by Tenant, if any) are insufficient to pay the entire cost of repair, or if the damage is not covered by Landlord's insurance policies, Landlord may elect by notice to Lessor either (a)to repair the damage as soon as reasonably possible, in which case this Lease shall remain in full force and effect, or (b) to terminate this Agreement Lease as of the date the damage occurred. Landlord shall notify Tenant within 30 days after receipt of notice of the occurrence of the damage whether Landlord elects to repair the damage or terminate the Lease. If Landlord elects to repair the damage, Tenant shall pay Landlord the "deductible amount' (if any) under Landlord's insurance policies and, if the damage was due to an act or omission of Tenant, the difference between the actual cost of repair and any insurance proceeds received by Landlord. If Landlord elects to terminate this Lease, Tenant may elect to continue this Lease in full force and effect, in which case Tenant shall repair any damage to the Premises and any building in which the Premises are located. Tenant shall pay the cost of such damagerepairs, except that, upon satisfactory completion of such repairs, Landlord shall reimburse Tenant for any such repair costs from any insurance proceeds received by Landlord for the damage repaired by Tenant. Any excess proceeds shall be retained by Landlord, Tenant shall give Landlord written notice of such election within 10 days after receiving Landlord's termination notice. If the damage to the Premises occurs during the last 6 months of the Term, Landlord may elect to terminate this Lease as of the date the damage occurred, regardless of the sufficiency of any insurance proceeds. In making the repairs called for in this paragraphsuch event, Lessor Landlord shall not be liable for any delays resulting from strikesobligated to repair or restore the Premises and Tenant shall have no right to continue this Lease, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control Landlord shall notify Tenant of Lessor. Lessee shall be relieved from paying rent and other charges during any portion its election within 30 days after receipt of notice of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 1 contract
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto Project is so damaged by firefire or other casualty and Mortgagor has not been declared in default of the Bond Lease, casualty unless Mortgagor elects within ninety (90) days to prepay the Bonds in full in accordance with the provisions of the Bond Lease, (i) Mortgagor will promptly repair, replace, rebuild or structural defects that restore the property damaged or destroyed to substantially the same cannot be used for Lessee’s purposescondition as existed prior to the event causing such damage or destruction, then Lessee shall have with such changes or alterations (including substitution and addition of other property), as Mortgagor may deem necessary, with the right within days following damage to elect by notice to Lessor to terminate this Agreement as prior approval of the date Mortgagee, which approval is not to be unreasonably withheld, conditioned or delayed, for proper operation of the Mortgaged Property, and (ii) Mortgagor and Mortgagee will apply for such purpose so much as may be necessary of any Net Proceeds of insurance resulting from claims for losses, under the insurance policies required to be carried herein, resulting from such damage. In making the repairs called for event that Mortgagor is in this paragraphdefault of the Bond Lease, Lessor shall not all proceeds of insurance shall, at the election of the Mortgagee, be liable for any delays applied (1) first, to prepay the Obligations in such order as the Mortgagee, as defined in the Bond Lease, as the Mortgagee, in its sole discretion, and in accordance with the related documents, may determine, and (2) second, to the payment of accrued and unpaid PILOT Payments. All Net Proceeds of insurance resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control claims for losses not in excess of Lessor. Lessee $500,000 shall be relieved paid to Mortgagor by Mortgagee, assuming Mortgagor acts to promptly repair, replace, rebuild or restore the damaged property. All Net Proceeds of insurance resulting from paying rent claims for losses in excess of $500,000 shall be paid to and other charges during any portion held by the Mortgagee in a separate disbursement account, and the Mortgagee will apply so much as may be necessary of the Lease Term that Net Proceeds of such insurance to payment of the Leased Premises are inoperable costs incurred by Mortgagor for the repair, replacement, rebuilding or unfit for occupancyrestoration of the Project, either on completion thereof or useas the work progresses as directed by Mortgagor. In the event any Net Proceeds of insurance will be insufficient to pay in full the costs of repair, in whole replacement, rebuilding or in partrestoration under this Section, for Lessee’s purposes. Rentals and other charges paid in advance for any as determined by an independent architect or engineer approved by Mortgagee, then Mortgagor, prior to commencing such periods repair, replacement, rebuilding or restoration, shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only pay to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit Mortgagee for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, deposit in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed separate disbursement account an amount equal to the sum deficiency, which deposit shall first be exhausted before any disbursement of Net Proceeds of insurance. Mortgagor shall not, by reason of the insurance proceeds available for reconstruction with respect payment of any such deficiency be entitled to said damageany reimbursement from Mortgagee or the Issuer. In Any moneys held by the event Mortgagee in the separate disbursement account under the provisions of minor the preceding paragraph shall, at the written request of the Authorized Tenant Representative, be invested or reinvested by the Mortgagee in Eligible Investments (as defined in the Indenture). Any balance of such Net Proceeds remaining after payment of all the costs of repair, replacement, rebuilding or restoration under this Section and approval thereof by the Mortgagee shall be paid to Mortgagor, provided no default has been declared under the Bond Lease. If upon any damage to any part or destruction of the Leased PremisesProject Mortgagor elects to prepay the Basic Rent in full pursuant to the provisions of the Bond Lease rather than repair, replace, rebuild or restore the property damaged or destroyed, all Net Proceeds of insurance shall be applied to such prepayment of Basic Rent, and if any balance remaining after such damage does not render prepayment shall be applied to the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure balance of the Leased Premises is damaged as a result of any neglect or negligence of LesseeObligations and, its employees, agents, invitees, or any independent contractors serving Lessee or if the Obligations are paid in any way as a result of Xxxxxx’s use and occupancy of the Leased Premisesfull, then Lessee any balance shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, paid to Mortgagor or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeits assignees as their respective interests may appear.
Appears in 1 contract
Samples: Agreement in Lieu of Taxes
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord’s obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Premises or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of Tenant’s personal property, movable trade fixtures, equipment, furniture, appratus and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant’s liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, either Tenant or Landlord, at their respective option, may terminate this Lease by giving written notice thereof to the other within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 1 contract
Damage and Destruction. If 8.01 LESSEE covenants and agrees that in the Leased Premises event of damage to or destruction of the LEASED PREMISES, or any part thereof thereof, during the LEASE TERM, by fire or other casualty, LESSEE shall immediate1y notify LESSOR. LESSOR shall, but only to the extent insurance proceeds are available therefor, proceed to restore, repair, rebuild or replace the LEASED PREMISES to the same condition and character as the LEASED PREMISES are immediately prior to such damage or destruction; provided that LESSOR may elect to alter the LEASED PREMISES as long as the LEASED PREMISES continue to be suitable for use for LESSEE's described purpose under this LEASE. Any monies paid by any companies issuing the policies of insurance required by ARTICLE VI hereof shall be paid to LESSOR and used for the purpose of repairing, reconstructing or restoring the LEASED PREMISES. Any excess funds not so used shall be paid to LESSEE (unless required to be paid to any mortgagee of the LEASED PREMISES pursuant to any mortgage, in which event such monies shall be paid to such mortgagee). Any fixture acquired as a replacement hereunder, or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or useitem acquired, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance out of insurance proceeds under this ARTICLE VIII, whether or not a replacement of or substitute for any such periods shall be credited on the next ensuing paymentsdamaged or destroyed fixture, if any, but if no further payments are to be made, any the insurance proceeds with which such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or usefixture was purchased, in whole or in part, for Lessee’s purposeswere derived from insurance on property which was part of the LEASED PREMISES, shall be and become part of the LEASED PREMISES and subject to this LEASE. It is understoodSuch restoration, howeverrepairs, in replacements or rebuilding shall be commenced prompt1y and prosecuted with reasonable diligence. In the event case of total damage involving a loss of $100,000 or substantial destruction less, at LESSOR's option, and provided such payment would not be contrary to the Leased Premises that in no event shall Xxxxxx’s obligation to restoreprovisions of any mortgage on the LEASED PREMISES, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect may be paid to said damage. In LESSEE and applied to the event payment of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lesseethe aforesaid restoration, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their ownrepairs, replacements or rebuilding, including but not limited to: expenditures made for temporary repairs or for the replacement protection of light bulbsproperty pending the completion of permanent restoration, normal repair and cleaning of windowsrepairs, cleaning and clearing of toiletsreplacements, etcor rebuilding or to prevent interference with the business operated thereon. Lessee If the insurance proceeds shall promptly and properly remove be insufficient to pay all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure costs of the Leased Premises is damaged as a result of any neglect or negligence of Lesseerestoration, its employeesat LESSOR's option, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use LESSEE shall immediately pay the deficiency and occupancy LESSOR shall proceed to complete the restoration upon payment by LESSEE of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseecost thereof.
Appears in 1 contract
Samples: Lease Agreement (Fti Consulting Inc)
Damage and Destruction. If the Leased Premises Facilities or any part thereof shall be damaged or any appurtenance thereto is so damaged destroyed by firefire or other casualty during the Term, casualty and the proceeds of the insurance coverage received by PJP requirred to be obtained hereunder are sufficient to pay the costs of repairing or structural defects that restoring the same canin a good and workmanlike manner and in accordance with Generally Accepted Practices and Applicable Law, as nearly as possible to its value, condition and character immediately before such damage or destruction, then, subject to the terms of the Financing Documents, PJP shall proceed with such repair or restoration as soon as possible after the damage or loss occurs and shall complete such repair or restoration with due diligence and all due speed. In the event the proceeds of the insurance coverage required to be obtained hereunder are not sufficient to pay the costs of repairing or restoring the Facilities or portion thereof as contemplated herein, subject to the terms of the Financing Documents PTFI may require PJP to proceed with the repair or restoration of such Facilities (excluding any portion of such Facilities constituting an Alteration made in connection with any sale approved or permitted pursuant to Section 3.04 hereof) as contemplated herein, in which event PTFI shall be used for Lessee’s purposesobligated to pay all such costs in excess of the insurance proceeds (other than any deductible amount, then Lessee which shall be borne by PJP). Of the total amount paid by PTFI pursuant to the preceding sentence, an amount no greater than the amount of the Outstanding Investment shall constitute PSA Subordinated Debt owing by PJP to PTFI, and if the total amount anticipated to be paid by PTFI pursuant to the preceding sentence exceeds the amount of the Outstanding Investment, PTFI shall have the right option, exercisable within days following damage ninety (90) Days after the date on which PTFI made the last payment towards such costs of repair or restoration, to elect by notice to Lessor to terminate this Agreement as purchase all of the date assets of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials PJP or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion all of the Lease Term that Shares of PJP from the Leased Premises are inoperable or unfit Shareholders for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum Outstanding Investment minus $250,000 in accordance with the Option Agreement, provided that PTFI shall not have such option if PJP shall pay the portion of such costs which exceeds the amount of the Outstanding Investment. Upon such purchase, PTFI shall pay or assume the obligation to pay in accordance with the terms of agreements between PJP and Senior Secured Lenders all outstanding principal, all interest thereon and all other amounts payable to Senior Secured Lenders. Any excess insurance proceeds available for reconstruction with respect to said damage. In remaining after the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, inviteesFacilities, or any independent contractors serving Lessee portion thereof, have been repaired or restored as contemplated above shall be given to PTFI. However, in the event that the Facilities or any way portion thereof are not repaired or restored, as a result contemplated in the second sentence of Xxxxxx’s use this Section 10.04, any insurance proceeds received during the Initial Term shall be retained by PJP and occupancy any insurance proceeds received during the Renewal Term shall be paid to PTFI. Any decision not to repair or restore the Facilities or portion thereof under this Section 10.04 shall not constitute an abandonment of the Leased Premises, then Lessee shall be primarily responsible Facilities or portion thereof for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseepurposes hereof.
Appears in 1 contract
Samples: Power Sales Agreement (Freeport McMoran Copper & Gold Inc)
Damage and Destruction. If In the Leased Premises or any part thereof or any appurtenance thereto is so damaged event that the Building should be totally destroyed by fire, tornado or other casualty or structural defects in the event the Premises or the Building should be so damaged that the same rebuilding or repairs cannot be used for Lessee’s purposescompleted within two hundred ten (210) days after the date of such damage, then Lessee shall have the right within days following damage to elect by notice to Lessor to either party may at its option terminate this Agreement Lease, in which event Base Rental shall be abated during the unexpired portion of this Lease effective as of the date of such damage. In making the event the Building or the Premises should be damaged by fire, tornado or other casualty covered by Landlord’s insurance, but only to such extent that rebuilding or repairs called for can be completed within two hundred ten (210) days after the date of such damage, or if the damage should be more serious and both parties elect not to terminate this Lease, in this paragrapheither such event Landlord shall within sixty (60) days after the date of such damage commence to rebuild or repair the Building and/or the Premises and shall proceed with reasonable diligence to restore the Building and/or the Premises to substantially the same condition which existed immediately prior to the happening or the casualty, Lessor except that Landlord shall not be liable for required to rebuild, repair or replace any delays resulting from strikespart of the improvements, governmental restrictionsbetterments, inability to obtain necessary materials furniture, equipment, fixtures and other improvements which may have been placed by Tenant, Landlord or labor any other person within the Building or other matters which are beyond the reasonable control of Lessor. Lessee Premises and Tenant at its sole expense shall be relieved from paying rent and other charges during any portion obligated to restore the same to substantially the same condition which existed immediately prior to the happening of the Lease Term casualty. Landlord shall allow Tenant a fair diminution of Base Rental during the time and to the extent that the Leased Premises are inoperable or unfit for occupancy, or use, use by Tenant in whole or in part, for Lesseethe ordinary conduct of Tenant’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lesseebusiness. The provisions abatement shall continue only until the earlier of this paragraph extend not only to (a) sixty (60) days following the matters aforesaid, but also to any occurrence which is beyond Lesseecompletion of Landlord’s reasonable control and which renders restoration work or (b) the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lesseecompletion of Tenant’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damagerepairs. In the event any mortgagee under a deed of minor trust, security agreement or mortgage on the Building should require that the insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild, and this Lease shall terminate upon notice to Tenant. Any insurance which may be carried by Landlord or Tenant against loss or damage to any part the Building or to the Premises shall be for the sole benefit of the Leased Premisesparty carrying such insurance and under its sole control, and if such damage does not render Landlord’s entire obligation to rebuild or restore hereunder shall be limited to the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result extent of any neglect recoverable insurance proceeds available therefor. Landlord represents that it currently carries “replacement value” insurance coverage for damage or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or destruction to the Building. It is understood that Landlord shall in any way as a result of Xxxxxxno event be obligated to carry insurance on Tenant’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseecontents.
Appears in 1 contract
Damage and Destruction. If at any time during the Term all or a portion of the Premises are damaged by a fire or other casualty, Landlord shall notify Tenant within sixty (60) days after Landlord becomes aware of such damage as to the amount of time Landlord reasonably estimates it will take to restore the Premises. If the Leased Premises or any part thereof or any appurtenance thereto restoration time is so damaged by fireestimated to exceed nine (9) months from the issuance of all permits, casualty or structural defects that subject to extensions for Force Majeure, Landlord may elect to terminate this Lease and if such restoration period is greater than twelve (12) months from the same cannot be used for Lessee’s purposesissuance of all permits, then Lessee Tenant may, as its sole remedy, terminate this Lease on or before thirty (30) days after receipt of Landlord’s notice describing the estimated restoration time that is greater than twelve (12) months. In addition, Landlord, by notice to Tenant within ninety (90) days after the date of the fire or other casualty shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as lease if: (1) any Mortgagee requires that the insurance proceeds be applied to the payment of the date mortgage debt or ground lease, or (2) a material uninsured loss to the Building or Premises occurs. If neither party either elects to terminate this Lease as provided above or if neither party has the right to terminate this Lease as provided above, then, subject to receipt of sufficient insurance proceeds, Landlord shall promptly commence to restore the Premises, subject to delays arising from the collection of insurance proceeds or from Force Majeure events. Such restoration shall be to substantially the same condition that existed prior to the fire or other casualty, except for modifications required by Applicable Laws. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant insurance with respect to any Alterations, provided if the estimated cost to repair such Alterations exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such damagerepairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within fifteen (15) days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs to such Alterations. In making no event shall Landlord be required to spend more for the repairs called for in this paragraphrestoration of the Premises than the proceeds received by Landlord, Lessor whether insurance proceeds or proceeds from Tenant. Landlord shall not be liable for any delays inconvenience to Tenant, or injury to Tenant’s business resulting in any way from strikes, governmental restrictions, inability to obtain necessary materials or labor the fire or other matters which are beyond casualty, or the reasonable control of Lessorrepair thereof. Lessee If this Lease is not terminated by Landlord or Tenant in accordance with this section, Tenant shall be relieved responsible for and shall pay to Landlord Tenant’s Share of any deductible or retention amount payable under the property insurance for the Building following any such casualty. Tenant at Tenant’s expense shall promptly perform, subject to delays arising from paying rent the collection of insurance proceeds, or from Force Majeure events, all repairs or restoration not required to be done by Landlord and other charges shall promptly re-enter the Premises and commence doing business in accordance with this Lease. Notwithstanding the foregoing, either party may terminate this Lease if the Premises are damaged during any portion the last year of the Lease Term and Landlord reasonably estimates that the Leased Premises are inoperable or unfit for occupancyit will take more than three (3) months to repair such damage. Provided no Event of Default by Tenant has occurred, or use, in whole or in part, for LesseeBase Rent and Tenant’s purposes. Rentals Share of Operating Expenses and other charges paid in advance for any such periods Real Property Taxes shall be credited abated for the period of repair and restoration commencing on the next ensuing paymentsdate of such casualty event in the proportion which the area of the Premises, if any, but if no further payments are which is untenantable bears to be made, any such advance payments the total area of the Premises. Such abatement shall be refunded the sole remedy of Tenant, and except as provided herein, Tenant waives any right to Lesseeterminate this Lease by reason of damage or casualty loss. The Tenant agrees that the terms of this Section 16 shall govern any damage or destruction and shall accordingly supersede any contrary statute or rule of law. Landlord and Tenant agree that the provisions of this paragraph extend not Section 16 shall only to apply when the matters aforesaid, but also to any occurrence which Premises is beyond Lessee’s reasonable control and which renders physically damaged or the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum structural integrity of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged degraded as a result of any neglect a fire or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as other casualty. In no event shall a result of Xxxxxx’s use and occupancy temporary closure of the Leased Building or the Project for the purpose of protecting public health constitute physical damage to the Premises, then Lessee nor shall Tenant’s inability to productively use the Premises during any such temporary closure be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in deemed a timely manner, including notice to Lessor, and the party or parties causing said damagecasualty. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 1 contract
Samples: Industrial Triple Net Lease (Chardan NexTech Acquisition 2 Corp.)
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto is so are damaged by firefire or other casualty, casualty or structural defects Landlord shall repair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord reasonably determines that the same cancost of repair would exceed twenty percent (20%) of the full replacement cost of the Premises (“Replacement Cost”) and the damage is not be used covered by Landlord’s insurance, or (ii) Landlord reasonably determines that the cost of repair would exceed fifty percent (50%) of the Replacement Cost; or (iii) Landlord reasonably determines that the cost of repair would exceed ten percent (10%) of the Replacement Cost and the damage occurs during the final twelve (12) months of the Term. Should Landlord elect not to repair the damage for Lesseeone of the preceding reasons, Landlord shall so notify Tenant in writing within sixty (60) days after the damage occurs and Tenant shall elect to either (i) repair the damage at its cost and receive any insurance proceeds paid by reason of such damage, subject to the rights of Landlord’s purposeslender, then Lessee or (ii) terminate this Lease and this Lease shall have terminate as of the right within days following damage to elect by date of that notice to Lessor and the obligations of the parties shall terminate as if the Term had naturally expired. Unless either party elects to terminate this Agreement Lease in accordance with the above, this Lease shall continue in effect for the remainder of the Term. However, provided that if the damage to the Premises is so extensive that it prevents Tenant’s substantial use and enjoyment of the Premises for more than thirty (30) consecutive days, then Tenant may elect to terminate this Lease by written notice to Landlord within ten (10) days from and after Tenant’s inability to use the Premises for thirty (30) consecutive days and this Lease shall terminate as of the date of such damagenotice and the obligations of the parties shall terminate as if the Term had naturally expired. Commencing on the date of any damage to the Premises which renders a portion thereof unusable, and ending on the date the damage is repaired or this Lease is terminated, whichever occurs first, the Rent to be paid under this Lease shall be abated in the same proportion that the floor area of the Premises that is rendered unusable by the damage bears to the total floor area of the Premises (which the parties agree is 80,808 square feet). In making addition, the repairs called for in provisions of this paragraph, Lessor Section shall not be liable for deemed to require Landlord to repair any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials improvements or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered fixtures installed by an insurance company will be the liability of LesseeTenant.
Appears in 1 contract
Samples: Lease (Diamond Resorts Parent, LLC)
Damage and Destruction. 22.1 If the Leased Premises or any part thereof or any appurtenance thereto the Project is so damaged by firean insured casualty, casualty occurring more than nine (9) months prior to the expiration of the term hereof, Landlord shall forthwith repair same, or structural defects cause same to be repaired, to the extent that the same sufficient insurance proceeds are made available to Landlord therefor and provided that such repairs cannot , in Landlord’s reasonable opinion, be used for Lessee’s purposes, then Lessee shall have the right made within ninety (90) days following damage to elect by notice to Lessor to terminate this Agreement as of from the date of such damage (without payment of overtime or other premiums) under the laws and regulations of the federal, state and local governmental authorities having jurisdiction thereof. If Landlord is not so required to repair such damage, Landlord shall have the option within forty-five (45) days from the date of such damage either to (i) notify Tenant of Landlord’s election to repair such damage, in which event Landlord shall thereafter repair same, or (ii) notify Tenant of Landlord’s election to immediately terminate this Lease, in which event this Lease shall be so terminated, and Tenant shall also have the right to terminate this Lease if such casualty occurred within the last nine (9) months of the Lease term. In making the repairs called Landlord shall refund to Tenant any rent previously paid for in this paragraphany period of time subsequent to such termination. Notwithstanding any contrary provision herein, Lessor and regardless of whether caused by casualty, (a) Landlord shall not be liable for required to repair any delays resulting from strikesdamage to the property of Tenant or to repair or replace any paneling, governmental restrictionsdecorations, inability railings, floor coverings, alterations, additions, fixtures or improvements installed on the Premises by or at the expense of Tenant, and (b) any damage caused by the negligence or willful misconduct of Tenant or any of its agents, contractors, employees, invitees or guests shall be promptly repaired by Tenant, at its sole cost and expense, to obtain necessary materials or labor or other matters which are beyond the reasonable control satisfaction of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understoodLandlord; provided, however, in the event of total or substantial destruction that Landlord shall bear said cost and expense to the Leased Premises that in no event shall Xxxxxx’s obligation to restoreextent it receives proceeds, replace or rebuild exceed an amount equal to covering such damage, from insurance obtained by Landlord as part of Operating Costs. Tenant hereby waives the sum provisions of Section 1932, subdivision 2, and Section 1933, subdivision 4, of the insurance proceeds available for Civil Code of California, and any similar law, statute or ordinance now or hereafter in effect. Notwithstanding the foregoing, (i) if the reconstruction with respect to said damage. In the event of minor damage to any part of the Leased PremisesPremises will, and in Landlord’s reasonable discretion, require more than nine (9) months from the date of the casualty, Tenant may terminate this Lease by giving written notice received by Landlord within thirty (30) days following Tenant’s receipt of written notice from Landlord of the project reconstruction period. Further, if reconstruction actually exceeds nine (9) months (subject to force majeure), Tenant may terminate this Lease upon sixty (60) days notice to Landlord; provided, that if such damage does not render the Leased Premises unusable for Lesseereconstruction is completed within such 60-day period, Tenant’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee termination notice shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, deemed null and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseevoid.
Appears in 1 contract
Samples: Lease (Beverly Hills Bancorp Inc)
Damage and Destruction. A. If the Leased Premises or any part thereof or any appurtenance thereto is so shall be damaged by fire, casualty the elements, unavoidable accident or structural defects that other casualty, without the same canfault of Tenant, but are not be used for Lessee’s purposes, then Lessee shall have thereby rendered untenantable (including as a result of a loss of necessary access or essential service from the right within days following damage to elect by notice to Lessor to terminate this Agreement as remainder of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, Project) in whole or in part, for Lessee’s purposesLandlord shall at its own expense cause such damage to be repaired and the Fixed Annual Rent and Additional Rent payable by Tenant hereunder shall not be abated. Rentals and other charges paid in advance for any If by reason of such periods occurrence, the Premises shall be credited on rendered untenantable only in part, Landlord shall cause the next ensuing paymentsdamage to be repaired, and the Fixed Annual Rent meanwhile shall be abated proportionately as to the portion of the Premises rendered untenantable, until the Premises has been restored to the extent required to be restored by Landlord as required hereby. Landlord shall use commercially reasonable efforts to commence restoration and to complete restoration as soon as possible after receipt of insurance proceeds, if anyapplicable. If the Premises shall be rendered wholly untenantable by reason of such occurrence, but if no further payments are Landlord shall cause such damage to be maderepaired, any such advance payments and the Fixed Annual Rent meanwhile shall be refunded to Lessee. The provisions of this paragraph extend not only abated in whole, until the Premises has been restored to the matters aforesaidextent required to be restored by Landlord as required hereby, but also except that Landlord shall have the right, to any occurrence which is beyond Lessee’s reasonable control and which renders be exercised by notice in writing delivered to Tenant within ninety (90) days after said occurrence, to elect not to reconstruct the Leased destroyed Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in partpart of Additional Rent, including without limitation charges for Lessee’s purposes. It Operating Costs and Taxes and Assessments attributable to any period during which the Premises shall be in untenantable condition, nor shall there be any abatement in Additional Rent nor the Fixed Annual Rent if such damage is understood, however, in the event caused by a negligent or intentional act or omission of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageTenant. In the event Landlord elects not to repair the destroyed Premises but fails to provide notice of minor damage its election not to any part of reconstruct the Leased PremisesPremises as prescribed herein, Tenant may at its option cancel and if such damage does not render the Leased Premises unusable for Lessee’s purposesterminate this Lease, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention as its sole and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeexclusive remedy against Landlord.
Appears in 1 contract
Damage and Destruction. If at any time during the Term all or a portion of the Premises are damaged by a fire or other casualty, then Tenant shall promptly notify Landlord upon becoming aware thereof. Within 30 days after Landlord becomes aware of such damage, Landlord shall notify Tenant as to the amount of time Landlord reasonably estimates it will take to restore the Premises (including the restoration of Landlord’s Work and any Alteration made by Landlord), including for modifications required by Applicable Laws, and excluding the repair, restoration or replacement of the fixtures, equipment, or Alterations made by Tenant or a Tenant Party (“Landlord’s Repair Notice”). If the Leased Premises or any part thereof or any appurtenance thereto restoration time is so damaged by fire, casualty or structural defects that estimated to exceed 9 months from the same cannot be used for Lessee’s purposesissuance of all permits, then Lessee shall have either Landlord or Tenant (unless the right within days following damage to was caused by Tenant) may elect by notice to Lessor to terminate this Agreement Lease effective as of the date of casualty by giving notice to the other within 15 days after Landlord’s notice. Notwithstanding anything to the contrary contained in this Section, in the event such restoration is not, in fact, substantially completed within the time period set forth in Landlord’s Repair Notice, as such time period shall be extended for delays caused by Tenant or any Tenant Party and/or delays due to Force Majeure, then Tenant (unless the damage was caused by Tenant) shall have the option to terminate this Lease on 30 days prior written notice, provided, however, that if Tenant gives such notice of termination pursuant to this paragraph and Landlord then substantially completes the restoration and repair within such 30 day time period, then Tenant’s notice of termination shall be deemed revoked and this Lease shall continue in full force and effect. In addition, Landlord, by notice to Tenant within 30 days after the date of the fire or other casualty, shall have the right to terminate this Lease if the loss is not covered by the insurance maintained or required to be maintained by Landlord under this Lease. If this Lease is not, or cannot be, terminated in accordance with the foregoing, then, subject to delays due to Force Majeure (as defined below), Landlord shall commence to restore the Premises to substantially the same condition that existed immediately prior to the fire or other casualty (including Landlord’s Work and any Alteration made by Landlord), including modifications required by Applicable Laws, and excluding the repair, restoration or replacement of the fixtures, equipment, or Alterations made by Tenant or a Tenant Party Notwithstanding the foregoing, either party may terminate this Lease if the Premises are damaged by a fire or other casualty during the last year of the Term and Landlord reasonably estimates that it will take more than 3 months to repair such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control Base Rent and Tenant’s Share of Lessor. Lessee Real Property Taxes and Operating Expenses shall be relieved from paying rent abated for the period of Landlord’s repair and other charges during any portion restoration obligations commencing on the date of such casualty event in the proportion which the area of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentsPremises, if any, but if no further payments are which is untenantable bears to be made, any such advance payments shall be refunded to Lesseethe total area of the Premises. The provisions Tenant agrees that the terms of this paragraph extend not only to the matters aforesaid, but also to Section 16 shall govern any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, damage or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party accordingly supersede any contrary statute or parties causing said damage. Any damage that is not covered by an insurance company will be the liability rule of Lesseelaw.
Appears in 1 contract
Samples: Attornment and Non Disturbance Agreement (Prelude Therapeutics Inc)
Damage and Destruction. If the Leased Premises Premises, the Building or any part thereof Building Systems are damaged by fire or other casualty, Landlord shall repair the same without delay (and if Landlord is then carrying insurance on the Leasehold Improvements or if Tenant at its sole option makes funds available to Landlord, Landlord shall also repair the Leasehold Improvements), provided that such repairs can be made under Applicable Laws within sixty (60) days after Landlord obtains all necessary permits for such repairs but not later than two hundred ten (210) days after the date of such damage (the "Repair Period"). In such event, this Lease shall remain in full force and effect, except that Tenant shall be entitled to an abatement of Rent while such repairs are being made. Such abatement in Rent shall be based upon the extent to which such damage and the making of such repairs interfere with Xxxxxx’s business in the Premises. Xxxxxxxx’s repairs shall not include, and the Rent shall not be abated as a result of, any damage by fire or other cause to Tenant’s Personal Property or any appurtenance thereto is so damaged damage caused by fire, casualty the negligence or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within willful misconduct of Tenant or its Agents. Within twenty (20) days following damage to elect by notice to Lessor to terminate this Agreement as of after the date of such damage, Landlord shall notify Tenant whether or not, in Landlord’s reasonable judgment made in good faith, such repairs can be made within the Repair Period. If such repairs cannot be made within the Repair Period, then either party hereto may, by written notice to the other given within thirty (30) days after the date of such damage, terminate this Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Landlord. In making case of termination, the repairs called for Rent shall be reduced by a proportionate amount based upon the extent to which such damage interferes with the conduct of Xxxxxx’s business in this paragraphthe Premises, Lessor and Tenant shall not be liable pay such reduced Rent up to the date of termination. Landlord shall refund to Tenant any Rent previously paid for any delays resulting from strikesperiod of time subsequent to such date of termination. Notwithstanding the foregoing, governmental restrictionsin the event the Premises are damaged or destroyed by reason of flood or earthquake, inability and such damage or destruction is not fully covered by insurance proceeds payable under the insurance policies Landlord is required to obtain necessary materials or labor or other matters carry hereunder (excluding any deductible, for which are beyond the reasonable control of Lessor. Lessee Landlord shall be relieved from paying rent and other charges during any portion responsible), Landlord may terminate this Lease by written notice to Tenant within thirty (30) days of the date Landlord receives written notice that such damage is not covered by insurance. Such notice from Landlord shall include adequate written evidence of the denial of insurance coverage. If Landlord does not elect to terminate this Lease as provided above, this Lease shall remain in full force and effect, and Landlord shall repair and restore the Premises as provided above. If at any time during the last six (6) months of the Term of this Lease there is substantial damage that Landlord would be required to repair hereunder, Landlord or Tenant may, at the respective option of each, terminate this Lease as of the date such damage occurred by giving written notice to the other party of its election to do so within thirty (30) days after the date of such damage; provided, however, Landlord may terminate this Lease only if it would take more than thirty (30) days to repair such damage. The parties intend that the Leased Premises are inoperable provisions of this Section govern fully their rights and obligations in the event of damage or unfit for occupancydestruction, or use, and Landlord and Tenant each hereby waives and releases any right to terminate this Lease in whole or in partpart under Section 1932, for Lessee’s purposes. Rentals subdivision 2, Section 1933, subdivision 4, and other charges paid Sections 1941 and 1942 of the Civil Code of California or under any similar law, statute or ordinance now or hereafter in advance for any such periods shall be credited on the next ensuing paymentseffect, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders extent such rights are inconsistent with the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeprovisions hereof.
Appears in 1 contract
Samples: Office Lease
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord’s obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Center or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of Tenant is personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such -loss,, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Ten4nt to surrender possession of the Leased Premises is damaged as a result nor affect Tenant’s liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 1 contract
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord’s obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Center or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of. Tenant 1’s personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant’s liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 1 contract
Damage and Destruction. If A. In the Leased event that any Facilities located on the Premises are damaged or any part thereof destroyed, and the net proceeds of insurance are sufficient to cover Lessee’s estimated cost of rebuilding (or any appurtenance thereto if Lessee failed to maintain insurance it is so damaged by firerequired to maintain under this Lease and the proceeds of such insurance, casualty had it been maintained, would have been sufficient to cover Lessee’s estimated cost of rebuilding), Lessee shall repair and rebuild the Facilities, and this Lease shall continue in full force and effect, and Lessee shall commence and continue such repair or structural defects that rebuilding with reasonable diligence and shall complete such repair and rebuilding within a reasonable time after the same cannot be used for Lessee’s purposesis commenced; provided, then Lessee shall have however, that any delay in the right within days following damage to elect by notice to Lessor to terminate this Agreement as completion of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from fire or other casualty, strikes, shortages of material or labor, governmental restrictionslaws, inability to obtain necessary materials rules and regulations, the elements or labor or other matters which are beyond the reasonable control of LessorLessee, shall extend such reasonable time within which Lessee may complete such repairs or rebuilding by the period of such delay. Lessee Subject to the terms of any Leasehold Mortgage, the net proceeds of any insurance, to the extent that such proceeds are received by any Leasehold Mortgagee, less any expenses of recovery thereof (including reasonable attorneys’ fees), shall be relieved from paying rent made available to Lessee to be applied to the cost and other charges during any portion expense of repair or rebuilding the damage or destruction insured against, subject to reasonable conditions and payable on receipt of the Lease Term that usual architect’s certificates respecting the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on progress of the next ensuing payments, if anywork, but if no further payments are to be made, any Leasehold Mortgagee holding such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed insurance proceeds may withhold an amount equal reasonably necessary to ensure completion of such repairs or rebuilding (not to exceed ten percent (10%) of such proceeds) until completion and the sum expiration of the insurance proceeds available for reconstruction with respect to said damage. In the event period within which mechanics’ or materialmen’s liens may be filed and until receipt of minor damage to any part of the Leased Premises, and if satisfactory evidence that no such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state liens exist or federal laws, rules, regulations have been satisfied or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeotherwise removed.
Appears in 1 contract
Samples: Lease Covering
Damage and Destruction. If the Leased Premises are hereafter damaged or any part thereof destroyed or any appurtenance thereto rendered partially untenantable for their accustomed use by fire or other casualty insured under the coverage which Landlord is so damaged by fireobligated to carry pursuant to Section 11.1 hereof, casualty or structural defects that Landlord shall promptly repair the same canto substantially the condition which they were in immediately prior to the happening of such casualty (excluding stock in trade, fixtures, furniture, leasehold improvements, furnishings, carpeting, floor covering, wall covering, drapes, ceiling and equipment), and from the date of such casualty until the Premises are so repaired and restored, the Minimum Monthly Rent payments and Monthly Common Area Maintenance Charges payable hereunder shall axxxx in such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises; provided, however, that Landlord shall not be used obligated to repair and restore the Premises if such casualty is not covered by the insurance which Landlord is obligated to carry pursuant to Section 11.1 hereof and provided, further, that Landlord shall not be obligated to expend for Lessee’s purposesany repair or restoration an amount in excess of the insurance proceeds recovered therefor, and provided, further, that if the Premises be damaged, destroyed or rendered untenantable for their accustomed uses by fire or other casualty to the extent of more than fifty percent (50%) of the cost to replace the Premises during the last two (2) years of the Lease Term, then Lessee either Tenant or Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damagecasualty by giving to the other, within sixty (60) days after the happening of such casualty, written notice of such termination. In making If such notice be given, this Lease shall (without further obligation or liability) terminate and Landlord shall promptly repay to Tenant any rent theretofore paid in advance, which was not earned at the date of such casualty. Any time that Landlord repairs called or restores the Premises after damage or destruction, then Tenant shall promptly repair or replace Tenant’s stock in trade, fixtures, furnishings, furniture, leasehold improvements, carpeting, wall covering, floor covering, drapes, ceiling and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed the Premises, Tenant shall promptly reopen for business upon the completion of such repairs. Should Landlord not repair the Premises to substantially the condition which they were in immediately prior to the casualty, as herein above described, within one hundred eighty (180) days of the casualty, Tenant shall have the right to terminate this paragraphLease if Tenant provides written notice to Landlord within ten (10) days after the expiration of the one hundred eighty (180) day period. Notwithstanding anything to the contrary set forth herein, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials in the event all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term Hotel Complex shall be damaged or destroyed by fire or other cause (notwithstanding that the Leased Premises are inoperable may be unaffected thereby), to the extent the cost of restoration thereof would exceed fifteen percent (15%) of the amount it would have cost to replace the Hotel Complex in the Hotel Complex’s entirety at the time such damage or unfit for occupancydestruction occurred, then either Tenant or useLandlord may terminate this Lease (without further obligation or liability) by giving the other thirty (30) days prior notice of such party’s election to do so, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which notice shall be credited on the next ensuing paymentsgiven, if anyat all, but if no further payments are to be made, any within ninety (90) days following the date of such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageoccurrence. In the event of minor damage to any part the termination of the Leased Premisesthis Lease as aforesaid, and if this Lease shall cease thirty (30) days after such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises notice is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessorgiven, and the party or parties causing said damagerent and other charges hereunder shall be adjusted as of that date. Any damage that is not covered by an insurance company will be the liability of Lessee.51
Appears in 1 contract
Samples: Lease (Premier Exhibitions, Inc.)
Damage and Destruction. If In the Leased event the Premises are damaged by any peril covered by standard policies of fire and extended coverage insurance and ISO Special Form Insurance to an extent which is less than fifty percent (50%) of the cost of replacement of the Premises, the damage to that portion of the Premises which Landlord is obligated to insure pursuant to the immediately preceding Section hereof, shall promptly be repaired by Landlord, at Landlord's expense, but in no event shall Landlord be required to repair or replace Tenant's stock-in-trade, trade fixtures, furniture, furnishings, special equipment and other items of construction and personal property which Tenant is required to insure pursuant to the immediately preceding Section hereof. In the event of such damage and (a) Landlord is not required to repair as provided herein, or (b) the Premises are damaged to the extent of fifty percent (50%) or more of the cost of replacement of the Premises, or (c) the Building is damaged to the extent of fifty percent (50%) or more of the cost of replacement, or (d) such damage is twenty-five percent (25%) or more of the cost of replacement of the Premises and the same occurs during the last year of the initial term or any extensions or renewal terms of this Lease, then, in any such event(s), Landlord may elect either to repair or rebuild the Premises or any part thereof the Building of which the Premises are a part, as the case may be, or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as Lease upon giving notice of such election, in writing, to Tenant within ninety (90) days after the happening of the date of event causing such damage. In making If such damage, repairing or rebuilding shall render the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or useuntenantable, in whole or in part, for Lessee’s purposesa proportionate abatement of the rent and additional rent stipulated herein shall be allowed from the date such damage occurred until the date Landlord completes the repairs or rebuilding, said proportion to be based on the degree to which Xxxxxx's use of the Premises is impaired. Rentals If Landlord is required or elects to repair the Premises as provided herein, Tenant shall repair its floor and wall covering s which Tenant is obligated to insure pursuant to the terms hereof, in a manner and to at least a condition equal to that prior to such damage or destruction; in addition, Tenant shall repair or replace its stock-in-trade, trade fixtures, furniture, furnishings, special equipment and other charges paid items of construction and personal property which tenant is required to insure pursuant to this Lease in advance a manner and to a condition Tenant deems appropriate and adequate for any such periods shall be credited on the next ensuing paymentsconduct of its business within the Premises. In addition, if any, but if no further payments are Tenant is hereby given the sole option to be made, any such advance payments shall be refunded to Lessee. The provisions of terminate this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, Lease in the event of total the repairing or substantial destruction rebuilding to be effected by Landlord and required hereunder cannot be completed within one hundred twenty (120) days from the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum date of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part occurrence of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseedestruction.
Appears in 1 contract
Samples: Lease (Celebrateexpress Com Inc)
Damage and Destruction. If at any time prior to the Leased Premises Closing, Seller ---------------------- reasonably determines that the Real Property has been destroyed or damaged by earthquake, flood or other casualty and that such damage will require more than $1,000,000.00 to repair (a "Casualty"), or if a proceeding is instituted for the taking of all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that material portion of the same cannot be used for Lessee’s purposesReal Property under the power of eminent domain (a "Taking"), then Lessee Buyer shall have the right within days following damage to elect by giving written notice to Lessor Seller and Title Company within fifteen (15) days after the date of receipt of written notice of any such Casualty or Taking, either to: (i) consummate the purchase of the Property in accordance with this Agreement, in which event Seller shall assign to Buyer at the Closing (A) any insurance proceeds payable to Seller on account of such Casualty (excluding rental income insurance proceeds allocable to the period prior to Closing) or (B) any award payable to Seller by reason of the Taking (excluding any award for a temporary taking to the extent allocable to the period prior to Closing), as the case may be; or (ii) terminate this Agreement effective as of the date such notice of termination is given. If Buyer fails to give such notice within such 15-day period, then Buyer shall be deemed to have elected to terminate this Agreement as pursuant to this Article 7. The Closing Date shall be deferred, if necessary, --------- to permit Buyer to have the 15-day period following receipt of notice of a Casualty or a Taking to make the election specified hereinabove. If Buyer terminates this Agreement pursuant to this Article 7, then the Deposit shall be returned to Buyer, and --------- neither Seller nor Buyer shall have any further obligations under this Agreement, except Buyer's obligation to perform the Continuing Obligations. However, notwithstanding the foregoing, Buyer's delivery of Buyer's work product to Seller in compliance with Section 4.4 shall be a condition precedent to ----------- Buyer's right to obtain disbursement of the date Deposit upon termination of this Agreement pursuant to this Article 7. Before Closing, Seller shall continue to --------- carry and maintain its current insurance pertaining to the Property, including the insurance required to be carried by Seller pursuant to Section 9.2 of the New Lease. In addition to the foregoing, if Seller reasonably determines that the Real Property has been destroyed or damaged by earthquake, flood or other casualty and that such damage will require less than $1,000,000.00 to repair, then at Closing Seller shall assign to Buyer any insurance proceeds payable to Seller on account of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only Casualty (excluding rental income insurance proceeds allocable to the matters aforesaid, but also period prior to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeClosing).
Appears in 1 contract
Samples: Purchase and Sale Agreement and Escrow Instructions (Netiq Corp)
Damage and Destruction. If and whenever the Leased Premises or any part thereof or any appurtenance thereto is so shall be damaged by fire, casualty fire or structural defects other cause to such an extent that the same canLeased Premises shall not, in the opinion of the Commission, be capable with due diligence of being repaired, restored or rebuilt within a period of one hundred and eighty (180) days after the occurrence of such damage or if the Commission decides that it will not be used for Lessee’s purposesrebuild the Leased Premises, then the Commission may terminate this Lease upon thirty (30) days notice given within forty-five (45) days after the occurrence of such damage and the Lessee shall thereupon immediately surrender the Leased Premises and this Lease to the Commission and Rent shall be apportioned to the date of such termination, unless the Leased Premises shall also have been damaged to the right within days following damage extent of rendering them completely unsuitable for the purpose for which they were leased in which event Rent shall be apportioned to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making If the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term damage is such that the Leased Premises are inoperable or unfit for occupancycan be partially used by the Lessee, or use, the Rent payable hereunder shall xxxxx in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only proportion to the matters aforesaid, but also to any nature and extent of the damage from the time of the occurrence which is beyond Lessee’s reasonable control and which renders thereof until the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event completion of total or substantial destruction such repairs to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to by the sum of Commission. TI the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage Commission does not render elect to terminate this Lease as aforesaid, then the Commission shall proceed with due diligence to repair the Building and/or Leased Premises unusable for Lessee’s purposes, Lessee and upon completion of such repairs by the Commission the Rent shall promptly repair recommence fifteen (15) days after such damage completion or at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure re-opening of the Leased Premises is damaged as a result of any neglect or negligence of Lesseefor business, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee whichever shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseefirst occur.
Appears in 1 contract
Samples: Validian Corp
Damage and Destruction. In the event the Building is damaged or destroyed in whole or in part by fire or other insured casualty during the Term and Tenant does not terminate this Lease under the option given it in this Paragraph 14, then upon receipt of the insurance proceeds from the insurance required in Paragraph 9 herein, Tenant shall repair and restore the Building substantially to the same condition that the Building was in prior to the fire or casualty with reasonable dispatch and in the event that the insurance proceeds are insufficient to restore the Building to its condition prior to the fire or casualty, Tenant shall pay the amount necessary to complete the restoration. If the Leased Premises manufacturing area of the Building is more than 50% destroyed or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that if the same Building cannot be used for Lessee’s purposesrestored within a period of two hundred seventy (270) days ("Substantial Casualty"), then Lessee as reasonably determined by Tenant, Tenant shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease upon written notice to Landlord given within forty-five (45) days from the occurrence of such casualty, in which event Landlord shall receive all insurance proceeds hereunder, and Tenant shall not repair or restore the Premises. Upon termination of this Lease under this Paragraph 13 all prepaid rent shall be prorated as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee casualty loss and shall be relieved from paying rent repaid to Tenant. Tenant shall give immediate notice to Landlord in case of fire or accident in the Building. If Tenant is required or elects to repair or rebuild the Building as provided for above, Tenant shall promptly repair or replace the Building substantially to the condition existing prior to its damage or destruction. Both Landlord and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods Tenant shall be credited on the next ensuing payments, if any, but if no further payments are entitled to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, participate in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum settlement discussions of the insurance proceeds available for reconstruction claim with respect to said damagethe insurer. In the event of minor damage If a casualty loss shall occur to any part Addition(s) and not the Building as provided above, the Lease shall not terminate but Tenant shall have the right to rebuild or demolish and remove the damaged Addition(s) and restore the Building substantially to its condition prior to the construction of the Leased Premises, Addition and if such damage Tenant (or its leasehold mortgagee) shall receive and retain all insurance proceeds paid under the Tenant's separate insurance coverage for the Addition(s) less the cost above to restore the Building. If a casualty loss occurs to the Building during the Term and Tenant is required or elects to repair the Building and does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according elect to all local, state or federal laws, rules, regulations or ordinances. In the event the structure terminate this Lease as of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy date of the Leased Premisescasualty loss, then Lessee as provided above, there shall be primarily responsible for seeing that no reduction or abatement in the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect Base Rent due to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability Tenant's loss of Lesseeuse of Building.
Appears in 1 contract
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord’s obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Premises or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys’ fees, inclined by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of Tenant’s personal property, movable trade fixtures, equipment, furniture, apparatus and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises, If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant’s liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, either Tenant or Landlord, at their respective option, may terminate this Lease by giving written notice thereof to the other within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 1 contract
Samples: To Lease (Radiation Therapy Services Holdings, Inc.)
Damage and Destruction. If at any time during the Term of this Lease, the Leased Premises shall be so destroyed or so injured by fire or other casualty as to be unfit for full occupancy and use by Lessee, and such destruction or injury could reasonably be repaired within one hundred eighty (180) days from the date of such destruction or injury, then Lessee shall not be entitled to surrender possession of the Leased Premises; provided, however, that Xxxxxx’s obligation to pay Rent shall be equitably reduced to the extent of the diminution in use to Lessee resulting from such destruction or injury until full use and occupancy is restored to Lessee. Lessee shall repair the damage with all reasonable speed at least to the extent of the value of the insurance available from all sources and as nearly as possible to the character and quality of the Improvements existing immediately prior to such occurrence. If the Leased Premises shall be so destroyed or any part thereof injured by fire or any appurtenance thereto is so damaged by fireother casualty that such destruction or injury could not reasonably be repaired within one hundred eighty (180) days from the date of such destruction or injury, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by option, upon written notice given to Lessor within 90 days from the date of such destruction or injury, to terminate this Agreement Lease, and upon giving of such notice this Lease shall be terminated as of the date of such damagedestruction or injury. In making the repairs called for event Lessee does not elect to terminate this Lease in this paragraphaccordance with the foregoing options, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall repair the damage and restore or rebuild the building and improvements as promptly as reasonably possible after the one hundred eighty (180) day period. All insurance proceeds received by Lessee for the loss shall be relieved from paying rent available to Lessee for rebuilding with disbursement of said funds following the terms to be agreed upon in writing in advance of any construction. If this Lease is terminated under the immediately preceding or following paragraphs, Lessee shall promptly raze the Improvements, remove the foundations, fill the site with dirt covered with topsoil and other charges during leave it in a neat, clean, graded, level and safe condition, provided that such request is made by Lessor within 90 days following the time of such termination. Any insurance proceeds available to Lessee (following restoration or otherwise) shall, subject to the rights of any portion Leasehold Mortgagee as provided in Sections 28 and 38, be collected by and paid to the Lessee. Any proceeds remaining after completion of Xxxxxx’s obligations under this Article shall be paid to Xxxxxx, except that any Rent outstanding and unpaid shall first be paid to the Lease Term that Lessor out of such remaining proceeds. Further, notwithstanding the foregoing, if any Improvements on the Leased Premises are inoperable “totally destroyed” (as hereinafter defined) during the last fifteen (15) years of the Term, Lessee may elect to terminate this Lease by giving written notice of termination to Lessor within 90 days after the Improvements on the Leased Premises are “totally destroyed” (as hereinafter defined). Insurance proceeds payable with respect to total destruction shall be applied to pay Lessee’s reasonable costs of demolition as outlined in the immediately preceding paragraph, and the outstanding indebtedness then secured by any Leasehold Mortgage, but only if and to the extent such costs and indebtedness exceed the amount of the insurance deductible, and all remaining insurance proceeds shall be paid to Lessor. For the purposes of this paragraph the terms "totally destroyed" and “total destruction” shall mean that the total aggregate cost to repair or unfit for occupancy, replace the damage to the Improvements on the Leased Premises exceeds fifty percent (50%) of the greater of (i) fair market value or use(ii) the replacement cost value of the Improvements on the Leased Premises immediately prior to the occurrence of such damage. The Annual CAM Charge and all rent shall be equitably abated during any period that the Improvements on the Leased Premises are unusable, in whole or in part. If Lessee elects to terminate this Lease pursuant to the terms of this Section, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods all Parties shall be credited on relieved of all further obligations owed under this Lease from and after such termination, unless the next ensuing payments, if any, but if no further payments are to be made, any survival of such advance payments shall be refunded to Lesseeobligation(s) is specifically provided for herein. The provisions of this paragraph extend not only to Section shall survive the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, expiration or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event termination of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseethis Lease.
Appears in 1 contract
Samples: Ground Lease
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss, Lessor provided, however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord's obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Center or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys' fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of. Tenant I s personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a xxxx therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord's obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant's fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Tenant to surrender possession of the Leased Premises is damaged as a result nor affect Tenant's liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 1 contract
Damage and Destruction. If In the event that the Private Improvements on the Leased Premises or any part thereof or any appurtenance thereto is so shall be damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor fire or other matters which are beyond casualty, and such damage renders the reasonable control of Lessor. Lessee shall be relieved from paying rent Private Improvements totally destroyed and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, untenantable in whole or in part, for Lessee’s purposes. Rentals Sub-Lessee shall give immediate notice thereof to Sub-Lessor and other charges paid in advance for any such periods the same shall be credited on the next ensuing paymentsrepaired, if anyrestored and/or rebuilt by Sub-Lessee at its sole cost and expense, but if no further payments are then only to be madethe extent of any applicable insurance proceeds plus the deductible amount thereto, to the condition at least equal to that which existed prior to its damage or destruction and in compliance with all laws and regulations applicable at the time of repair and/or restoration of any such advance payments shall be refunded to Lesseeimprovements constructed thereon, and in accordance with a schedule as reasonably approved by the Sub-Lessor. The provisions For the purposes of this paragraph extend not only the term "totally destroyed" shall mean that the total aggregate cost to repair or replace the damage to the matters aforesaidPrivate Improvements exceeds fifty percent (50%) of the "actual cash value" of the Private Improvements at the time of the casualty event. Notwithstanding the foregoing, but also if any such damage or destruction occurs to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased PremisesPrivate Improvements during the last ten (10) years of the Term, or any appurtenance theretorenewal or extension thereof, inoperable or unfit for occupancy or useSub-Lessee, in whole or in partat its election, for Lessee’s purposes. It is understoodmay elect to repair the same or, however, in terminate this Agreement and demolish the event same and tender possession of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of City/or Sub-Lessor by removal and grading the insurance proceeds available for reconstruction with respect to said damagearea previously occupied by such improvements, and leave the same in a neat and clean condition. In the event of minor any damage or destruction to the Private Improvements or any part of the Leased Premises, and if such damage does not render other improvements on the Leased Premises unusable for Lessee’s purposesincluding, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: , improvements on any sub-parcel, the replacement Rent Payment shall be abated (or refunded as appropriate) for all such periods of light bulbstime during which the Private Improvements are untenantable, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according due to all local, state or federal laws, rules, regulations or ordinances. In the event the structure no fault of the Leased Premises is damaged as a result Sub- Lessee. Absent termination of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee this Agreement there shall be primarily responsible no abatement of CAM Charges during any period or repair or reconstruction. If Sub-Lessee elects to terminate this Agreement pursuant to the terms of this Paragraph 13, it shall be relieved of all further obligations owed under the Agreement, unless the survival of such obligation(s) is specifically provided for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeherein.
Appears in 1 contract
Samples: Sub Lease
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same canNewhall shall not be used for Lessee’s purposesrequired to repair any damage or destruction of any completed portion of the Center, including New Spaces that have been completed by Newhall, in the event of any total or partial damage or destruction thereof. If there is any damage to any of the New Spaces that have not been completed by Newhall, then Lessee with respect to those New Spaces, this Agreement, if applicable, shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of be terminated from the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikesunless, governmental restrictionsOwner provides Newhall within fifteen (15) days after such damage occurs, inability with written notice of its intent to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of provide Newhall with the insurance proceeds available for reconstruction with respect to repair said damage. In such case, Newhall shall proceed to diligently complete the event of minor damage to any part repair and restoration of the Leased Premises, and if New Spaces that were under construction provided Owner has provided Newhall with the insurance proceeds less the remaining construction budget for such New Space after Newhall's payment of all outstanding invoices as the date of such damage does not render or destruction and Newhall's Subsidy and Pro-Rata Share of Operating Expense obligations shall be abated and reduced by the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result amount of any neglect rental loss insurance proceeds received by Owner for such Space under Owner or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed Newhall's casualty insurance policies. If Owner elects not to provide Newhall with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded proceeds payable with respect to said damage any New Space under construction, Newhall shall be released from any obligation to construct or repair such New Space, Newhall's Subsidy obligation shall be reduced by the amount of the Pro-Forma Rent applicable to such New Space, Newhall's Pro Rata Share shall be reduced to reflect the elimination of such New Space, Owner and that all proper notices with respect to said damage, are made in Newhall shall enter into a timely manner, including notice to Lessor, Subsidy Reduction Amendment and the party or parties causing said damageremaining undisbursed construction budget applicable to such New Space shall be paid to Owner. Any prepaid Subsidy payments by Newhall shall be prorated based upon the number of actual days elapsed as of any such damage that is not covered by an insurance company will be the liability of Lesseeor destruction.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Newhall Land & Farming Co /Ca/)
Damage and Destruction. In the event the Premises or the Building is damaged or destroyed in whole or in part by fire or other insured casualty during the Term, Landlord shall repair and restore the Premises and Building to the same condition that the Premises or the Building were in prior to the fire or casualty with reasonable dispatch, provided that Landlord shall not be obligated to expend for such repair an amount in excess of the insurance proceeds recoverable by Landlord or assigned to Landlord as a result of such damage. If the Leased fire or other casualty renders all or a portion of the Premises or any part thereof or any appurtenance thereto is untenable, the monthly installments of Base Rent shall be reduced in direct proportion to the amount of the Premises so damaged by fireor destroyed until such time as the Premises is restored, casualty or structural defects provided that the same fire or casualty is not attributable to the willful or negligent act or omission of Tenant, its employees or agents. In the event Landlord’s insurance proceeds are insufficient to restore the Premises and Building to its condition prior to the fire or casualty, Landlord may terminate this Lease upon thirty (30) days written notice to Tenant. If the Premises and Building cannot be used for Lessee’s purposesrestored within a period of one hundred eighty (180) days, then Lessee as determined by Landlord in its reasonable discretion, Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease upon written notice to Tenant. Such notice shall be given to Tenant within thirty (30) days from the occurrence of such casualty. Tenant shall, at the Landlord’s cost and expense, remove such of its furniture and other belongings from the Building as Landlord shall require in order to repair and restore the Building and Premises. Landlord shall use reasonable discretion as to the extent of the date untenability of the Building and of the time required for the repair and rebuilding of the same and no such damage. In making the repairs called for damage or untenability shall be deemed either an actual or constructive eviction or result in any abatement of rent, except as provided in this paragraph, Lessor Paragraph 14. Tenant shall not be liable for any delays resulting from strikes, governmental restrictions, inability give immediate notice to obtain necessary materials Landlord in case of fire or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, accident in the event of total Premises. If Landlord is required or substantial destruction elects to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace repair or rebuild exceed an amount the Premises or Building as provided for above, Tenant shall promptly repair or replace its merchandise, trade fixtures, furnishings, equipment, personal property and leasehold improvements in a manner and to a condition equal to the sum of the insurance proceeds available for reconstruction with respect that existing prior to said damageits damage or destruction. In the event of minor damage to If Tenant shall use any part of the Leased PremisesPremises for storage during the period of repair, and if Landlord shall have the right to charge Tenant for such damage does storage at a rate not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see to exceed that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinancesset forth in Paragraph 3 above. In the event the structure Building is damaged or destroyed to the extent of more than fifty (50%) percent of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy value of the Leased Building, Landlord may, in its sole discretion, elect to terminate this Lease upon in default. Tenant also agrees that any mortgagee or ground lessor may elect to treat this Lease as prior in time to its interest in the Premises, and in the event of such election and upon notification to Tenant to that effect, this Lease shall thereupon be deemed so prior, whether this Lease is, in fact, dated prior or subsequent to the date of such other interest. In the event Tenant fails to execute and deliver such instrument(s) evidencing the subordination of this Lease, then Lessee Landlord shall be primarily responsible for seeing that have the proper claims are placed with Xxxxxxright to execute such instrument(s) on Tenant’s insurance company, or the damaging party’s insurance companybehalf, and shall furthermore be responsible Tenant hereby irrevocably appoints landlord as agent and attorney for seeing that the Building is safeguarded with respect purpose of executing such instruments necessary to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and effectuate the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeforegoing.
Appears in 1 contract
Samples: Lease Agreement (Xg Sciences Inc)
Damage and Destruction. 22.1 If the Leased Premises or any part thereof or any appurtenance thereto the Project is so damaged by firean insured casualty, casualty occurring more than six (6) months prior to the expiration of the term hereof, Landlord shall forthwith repair same, or structural defects cause same to be repaired, to the extent that the same insurance proceeds are made available to Landlord therefor and provided that such repairs cannot , in Landlord's reasonable opinion, be used for Lessee’s purposes, then Lessee shall have the right made within ninety (90) days following damage to elect by notice to Lessor to terminate this Agreement as of from the date of such damage (without payment of overtime or other premiums) under the laws and regulations of the federal, state and local governmental authorities having jurisdiction thereof. Tenant hereby acknowledges that Landlord's right to proceeds under the property insurance policies described in Section 12.2. above shall be subject to the rights of any mortgagees, trust deed holders or other secured parties having an interest in the Building. If Landlord is not so required to repair such damage, Landlord shall have the option within thirty (30) days from the date of such damage either to (i) notify Tenant of Landlord's election to repair such damage, in which event Landlord shall thereafter repair same, or (ii) notify Tenant of Landlord's election to immediately terminate this Lease, in which event this Lease shall be so terminated. In making the repairs called Landlord shall refund to Tenant any rent previously paid for in this paragraphany period of time subsequent to such termination. Notwithstanding any contrary provision herein, Lessor and regardless of whether caused by casualty, (a) Landlord shall not be liable for required to repair any delays resulting from strikesdamage to the property of Tenant or to repair or replace any paneling, governmental restrictionsdecorations, inability railings, floor coverings, alterations, additions, fixtures or improvements installed on the Premises by or at the expense of Tenant, and (b) any damage caused by the negligence or willful misconduct of Tenant or any of its agents, contractors, employees, invitees or guests shall be promptly repaired by Tenant, at its sole cost and expense, to obtain necessary materials or labor or other matters which are beyond the reasonable control satisfaction of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeLandlord.
Appears in 1 contract
Damage and Destruction. If In the Leased Premises event the Facility is damaged, lost or any part thereof destroyed, (a) the Mortgagor promptly shall notify the Mortgagee of such event, (b) the Mortgagor, unless otherwise instructed by the Mortgagee, promptly shall commence and diligently pursue to completion the restoration, replacement or any appurtenance thereto is so damaged rebuilding of the Facility as nearly as possible to its value, condition and character immediately prior to such damage, loss or destruction, regardless of whether the insurance proceeds, if any, shall be sufficient for the purpose or shall be otherwise applied by firethe Mortgagee as provided in this Mortgage, casualty or structural defects that (c) the same canMortgagee may, but shall not be used obligated to, make proof of loss if not made promptly by the Mortgagor and settle, adjust or compromise any claims for Lessee’s purposesdamage, then Lessee loss or destruction (and the Mortgagor hereby authorizes and empowers the Mortgagee to make any such proof of loss, settlement, adjustment or compromise, and the Mortgagor hereby authorizes and directs each insurance company concerned to make payment for any such damage, loss or destruction directly to the Mortgagee) and (d) the Mortgagee shall have the right within days following damage to elect by notice apply the insurance proceeds, first, to Lessor to terminate this Agreement as reimburse the Mortgagee for all reasonable costs and expenses incurred in connection with the collection of such proceeds, and, second, at the option of the date of such damage. In making the repairs called for in this paragraphMortgagee, Lessor shall not be liable for (i) to pay all or any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion part of the Lease Term that Obligations then due in the Leased Premises are inoperable or unfit for occupancyorder and manner determined by the Mortgagee in its sole discretion, (ii) to cure any then current default under this Mortgage, or use(iii) to repair, restore or replace, in whole or in part, for Lessee’s purposesthe portion of the Facility so damaged, lost or destroyed. Rentals and other charges Notwithstanding anything in this Mortgage or at law or in equity to the contrary, no insurance proceeds that are paid to the Mortgagee as provided in advance for any such periods this Mortgage shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessordeemed trust funds, and the party Mortgagee shall be entitled to dispose of such proceeds as provided in this Mortgage. The Mortgagor expressly assumes all risk of loss, including a decrease in the use, enjoyment or parties causing said damage. Any damage that is value, of the Mortgaged Property from any casualty whatsoever, whether or not covered by an insurance company will be the liability of Lesseeinsurable or insured against.
Appears in 1 contract
Samples: Facility Agreement (Vencor Inc)
Damage and Destruction. If the Leased Premises or the Building in which Premises are located are damaged by fire, earthquake, act of God, the elements or other casualty Landlord shall promptly repair such damages, subject to the provisions of this Section 19, if in Landlord’s judgement, such repairs can be made within One Hundred and Eighty Days (180) under the laws and regulations of the state, federal, county and municipal authorities having jurisdiction. During the making of such repairs by Landlord, this Lease shall remain in full force and effect, except that if the damage is not the result of any act, neglect, default or omission of Tenant, its agents, employees or invitees, Tenant shall be entitled to a reduction of rent while such repair is being made in the proportion that the net rentable area of the Premises rendered untenantable by such damage bears to the total net rentable area of the Premises. If such repairs cannot be made within One Hundred and Eighty (180) days, Landlord shall have the option to either (a) repair such damage, this Lease continuing in full force and effect but with the rent proportionately reduced upon the conditions and as hereinabove in this Section 19, provided, or (b) gives notice to Tenant at any time within thirty (30) Days after the occurrence of such damage terminating this Lease as of a date specified in such notice which date shall not be less than thirty (30) days nor more than sixty (60) days after the giving of such notice. If Landlord elects to terminate this Lease by giving such notice of termination to Tenant, this Lease and all interest of Tenant in the Premises shall terminate on the date specified in such notice, and the rent, proportionately reduced as hereinabove in this Section 19 provided, shall be paid up to the date of such termination, Landlord hereby agreeing to refund to Tenant any rent, theretofore paid for any period of time subsequent to such date. If Landlord elects or is required to repair the Premises or the Building in which the Premises are located under this Section 19, Landlord shall repair at its cost any injury or damage to the Building, and Tenant shall be responsible for and shall repair at its sole cost all fixtures, equipment, furniture or any other property of Tenant in the Premises. Landlord shall in no event be required to repair any improvements installed in the Premises by Tenant at Tenant’s sole cost and expense. Tenant hereby waives the provision of any state or local law, to the extent said provisions may be waived, which are in conflict with Section 19. Tenant shall not be entitled to any compensation or damages from Landlord for damage to any of Tenant’s fixtures, personal property, or equipment, for loss of use of the Premises or any part thereof thereof, for any damage to Tenant’s business or profits or for any appurtenance thereto is so damaged disturbance to Tenant caused by fire, any casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee restoration of the Premises following such casualty. A total destruction of the Building shall have the right within days following damage to elect by notice to Lessor to automatically terminate this Agreement as of the date of such damageLease. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.Initial ________
Appears in 1 contract
Samples: Commercial Lease (Silicom Ltd.)
Damage and Destruction. A. If during the term, the Demised Premises or the Shopping Center and other improvements in which the Demised Premises are located are totally or partially destroyed or damaged from a risk covered by the insurance required to be maintained under this Lease, rendering the Demised Cuyamaca Bank/La Mesa Lease Initial Standard Shopping Center Lease Initial 28731-6/1822140.2 [Word] 01/30/03 Premises totally or partially inaccessible or unusable, Landlord shall restore the Demised Premises or the Shopping Center and other improvements in which the premises are located to substantially the same condition as they were in immediately before the event. Such damage or destruction shall not terminate the Lease. If existing laws do not permit the restoration, either party can terminate the Lease immediately by giving notice to the other party. If the Leased Premises or any part thereof or any appurtenance thereto is so damaged cost of restoration exceeds the amount of the proceeds received from the insurance carried, Landlord can elect to terminate the Lease by fire, casualty or structural defects giving notice to Tenant within 30 days after determining that the same cannot be used for Lessee’s purposes, then Lessee shall have restoration cost will exceed the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damageinsurance proceeds. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials case of damage or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Demised Premises that in no event shall Xxxxxxonly, if Landlord so elects to terminate the Lease, Tenant, within 15 days after receiving Landlord’s obligation notice to restoreterminate, replace or rebuild exceed an can elect to pay to Landlord, at the time Tenant notifies Landlord of its election, the difference between the amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lesseerestoration, particularly items in which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: case Landlord shall restore the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etcDemised Premises. Lessee Landlord shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and give Tenant satisfactory evidence that all proper notices with respect sums contributed by Tenant as above provided have been expended by Landlord in paying the cost of restoration. If Landlord elects to said damageterminate the Lease and Tenant does not elect to contribute to the cost of restoration as provided above, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeLease shall terminate.
Appears in 1 contract
Samples: Center Lease (Community Bancorp Inc)
Damage and Destruction. If the Leased Premises are hereafter damaged or any part thereof ---------------------- destroyed or any appurtenance thereto rendered partially untenantable for their accustomed use by fire or other casualty insured under the coverage which Landlord is so damaged by fireobligated to carry hereunder, casualty or structural defects that Landlord shall promptly repair the same canto substantially the condition which they were in immediately prior to the happenings or such casualty (excluding stock in trade, fixtures furniture, furnishings, carpeting, floor covering, wall covering, drapes and equipment). From the date of such casualty, until the Premises are so repaired and restored, the monthly rent payments hereunder shall xxxxx in such proportion as the part of said Premises thus destroyed or rendered untenantable bears in the total Premises; provided however, that Landlord shall not be used obligated to repair and restore if such casualty is caused directly or indirectly by the negligence of Tenant, its agents or employees; and provided further, that Landlord shall not be obligated to expend for Lessee’s purposessuch repair or restoration an amount in excess of the insurance proceeds recovered as a result of such damage. Notwithstanding that above, if the Premises are wholly or partially damaged, destroyed or rendered untenantable for their accustomed use by fire or other casualty then Lessee Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damage. In making casualty by giving Tenant, within sixty (60) days after the repairs called for in happening of such casualty, written notice of such a termination if such notice is given, this paragraph, Lessor Lease shall not be liable for terminate and Landlord shall promptly repay to Tenant any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any which was not earned at the date of such periods shall be credited on a casualty. If said notice is not given and Landlord is required or elects to repair or restore the next ensuing paymentsPremises as herein provided, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee then Tenant shall promptly repair such damage at or replace its stock in trade fixtures, furnishings, furniture, carpeting, wall covering, floor covering, drapes and equipment to the cost of Lesseesame condition as they were in immediately prior to the casualty and, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their ownif Tenant has closed its business, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee Tenant shall promptly and properly remove all rubbish and hazardous wastes and see that reopen for business upon the same are properly disposed completion of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseesuch repairs.
Appears in 1 contract
Samples: Center Lease (Intellisys Group Inc)
Damage and Destruction. If at any time prior to the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any Closing Date a material portion of the Lease Term that the Leased Premises are inoperable Property is destroyed or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of fire or any neglect other casualty, then at Buyer’s option, to be exercised within ten (10) days after receipt of notice of such destruction or negligence damage, this Agreement shall terminate, the Deposit shall be returned to Buyer, and except as expressly set forth herein, neither party shall have any further liability or obligation to the other hereunder. If Buyer does not timely notify Seller in writing of Lesseeits election to terminate this Agreement, its employeesBuyer shall be deemed to have elected not to terminate this Agreement. For purposes hereof, agents, inviteesthe term “material” shall be deemed to be (i) a damage or destruction in excess of One Hundred Seventy Five Thousand Dollars ($175,000), or (ii) without regard to the foregoing value threshold, any independent contractors serving Lessee damage or destruction which results in permanent loss of ingress, egress or access to the Property or any way parking spaces or areas required to comply with applicable law. If less than a material portion of the Property is damaged or destroyed or if a material portion is damaged or destroyed and Buyer elects or is deemed to have elected not to terminate this Agreement, the parties shall proceed to the Closing Date without reduction in the Purchase Price (other than Seller’s deductible, excluding any deductibles or self-insured retentions with respect to earthquake damage or other uninsured amounts) and, upon the Closing, all property insurance proceeds paid or payable to Seller as a result of Xxxxxx’s use such casualty shall belong to Buyer and occupancy shall be paid over and assigned to Buyer; provided, however, that if the damage or destruction results from an uninsured loss, then Buyer shall be entitled to credit against the Purchase Price in the full amount of the Leased Premisesloss. Notwithstanding the foregoing, then Lessee if the credit to be provided by Seller to Buyer at Closing on account of any uninsured casualty under the preceding sentence exceeds Fifty Thousand Dollars ($50,000), Seller shall have the right to terminate this Agreement in lieu of providing said credit in which event the Deposit shall be primarily responsible for seeing that refunded to Buyer. In the proper claims are placed with Xxxxxxevent Seller exercises its right to terminate this Agreement, Buyer shall have three (3) business days after the delivery of Seller’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including termination notice to Lessorelect to assume the portion of the uninsured casualty in excess of Fifty Thousand Dollars ($50,000) (in which event Buyer shall receive a credit against the Purchase Price equal to Fifty Thousand Dollars ($50,000) and otherwise be obligated, and subject to the party terms of this Paragraph 20.2, to close the purchase of the Property without any further adjustment to the Purchase Price in accordance with the terms of this Agreement). Seller shall have no obligation to make any repairs to the Property in the event of a damage or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseedestruction.
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Damage and Destruction. If before the Leased Premises or any part thereof or any appurtenance thereto is so Closing the Improvements are damaged by fireany casualty and the cost to restore such Improvements is more than ONE MILLION DOLLARS ($1,000,000.00), casualty then, whether or structural defects that the same cannot be used for Lesseecovered by Seller’s purposesproperty insurance, then Lessee Buyer shall have the right within days following damage to elect right, by giving written notice to Lessor Seller within ten (10) business days after Seller gives Buyer written notice of the occurrence of such casualty, to terminate this Agreement, in which event this Agreement shall terminate in accordance with Section 11.14 below. If Buyer has the right to terminate this Agreement as pursuant to the preceding sentence but Buyer does not exercise such right, then this Agreement shall remain in full force and effect without adjustment to the Purchase Price and, at the Closing, (a) all insurance proceeds actually received by Seller (or paid to or for the benefit of Seller) in connection with such casualty (except to the extent previously expended by Seller for repairs or restoration of the date Improvements actually completed prior to the Closing) plus the amount of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee deductible under Seller’s property insurance policy shall be relieved from paying rent paid to Buyer by Seller through Escrow, and other charges during any portion (b) Seller shall unconditionally assign and transfer to Buyer of the Lease Term that the Leased Premises are inoperable or unfit for occupancySeller’s right, or use, title and interest in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the additional insurance proceeds available for reconstruction otherwise payable to Seller with respect to the damaged or destroyed Improvements. If before the Closing the Improvements are damaged by any casualty and the cost to restore such Improvements is ONE MILLION DOLLARS ($1,000,000.00) or less and such cost is not fully covered by Seller’s property insurance (subject to any applicable deductible), then Buyer shall have the right, by giving written notice to Seller within ten (10) business days after Seller gives written notice of the occurrence of such casualty to Buyer, to terminate this Agreement, in which event this Agreement shall terminate in accordance with Section 11.14 below, unless (a) Seller, at its expense, fully repairs and restores the damaged Improvements prior to the Closing, or (b) Seller notifies Buyer in writing within said damageten (10) day business period that Buyer will receive a credit at the Closing against the Purchase Price in the amount of the cost to fully repair and restore the damaged Improvements as reasonably determined by Seller and Buyer. In the event of minor either (a) or (b), above, except as provided in (b), there shall be no adjustment to the Purchase Price. If before the Closing the Improvements are damaged by any casualty and the cost to restore such Improvements is ONE MILLION DOLLARS ($1,000,000.00) or less, and such damage is fully covered by Seller’s property insurance (subject to any applicable deductible), then this Agreement shall remain in full force and effect without adjustment to the Purchase Price, subject, however, to the following: (a) as to any insurance proceeds for such casualty that have not actually and unconditionally been paid over to Seller prior to the Closing, at the Closing Seller shall assign to Buyer all of Seller’s right, title and interest in and to such proceeds; and (b) as to any insurance proceeds for such casualty that have been actually and unconditionally paid over to Seller (or paid to or for the benefit of Seller) prior to the Closing, the amount of such proceeds shall be a credit to Buyer against the Purchase Price for the Property, and (c) the amount of any deductible under Seller’s property insurance policy shall be a credit to Buyer against the Purchase Price for the Property. Seller shall give notice to Buyer promptly after the occurrence of any casualty damage to any part the Improvements. Buyer shall have a period of ten (10) business days (or such shorter period as Buyer may elect by giving notice to Seller) after Seller has given the notice to Buyer required by this Section 11.6.1 to evaluate the extent of the Leased Premisesdamage and make the determination as to whether to terminate this Agreement. If necessary, the Closing shall be postponed until Seller has given the notice to Buyer required by this Section 11.6.1 and if the period of ten (10) business days described in this Section 11.6.1 has expired. With respect to any termination right in favor of Buyer in this Section 11.6.1, unless Buyer expressly elects in writing to terminate this Agreement pursuant to such right, Buyer’s failure to notify Seller of its election to terminate shall be conclusively deemed a waiver of Buyer’s election to terminate this Agreement pursuant to this Section. Seller assumes all risks and liability for damage does not render to or injury occurring to the Leased Premises unusable for Lessee’s purposesProperty by fire, Lessee shall promptly repair such damage at the cost of Lesseestorm, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, inviteesaccident, or any independent contractors serving Lessee other casualty or in any way as a result of Xxxxxx’s use and occupancy of cause until the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeClosing has been consummated.
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Damage and Destruction. If In the Leased event the Premises or any part thereof or any appurtenance thereto is so are damaged by fire, explosion or other casualty or structural defects occurrence to an extent which is less than twenty-five percent (25%) of the cost of replacement of the Premises, the damage shall promptly be repaired by Landlord, at Landlord's expense, provided that the same canLandlord shall not be used obligated to expend for Lessee’s purposessuch repairs an amount in excess of the insurance proceeds recovered or recoverable as a result of such damage and that in no event shall Landlord be required to repair or replace Tenant's stock in trade, then Lessee shall have fixtures, furniture, furnishings, or floor coverings and equipment. In the right within days following event of such damage and (a) Landlord is not required to repair as hereinabove provided, or (b) the Premises are damaged by fire, explosion or any other casualty or occurrence to the extent of twenty-five percent (25%) or more of the cost of replacement of the Premises, or (c) the building of which the Premises are a part is damaged to the extent of fifty percent (50%) or more of the cost of replacement, Landlord may elect by notice either to Lessor repair or rebuild the Premises, or the building of which the Premises are a part, as the case may be, or to terminate this Agreement as Lease upon giving notice of such election in writing to Tenant within ninety (90) days after the happening of the date of such event causing the damage. In making If the repairs called for in this paragraphcasualty, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancyrepairing, or userebuilding shall render the Premises untenantable, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods a proportionate abatement of the Fixed Rent shall be credited allowed from the date when the damage occurred until the date Landlord completes the repairs or rebuilding, said proportion to be computed on the next ensuing paymentsbasis of the relation which the gross square foot floor area of the space rendered untenantable bears to the gross square foot area of the Premises. If Landlord is required or elects to repair the Premises as herein provided, if anyTenant shall repair or replace its stock in trade, but if no further payments are to be madefixtures, any such advance payments furniture, furnishings, floor coverings and equipment. Landlord shall procure and maintain "all risks" property insurance on all buildings and improvements now or hereafter erected on the Site. Such insurance shall be refunded to Lessee. The provisions for the full replacement cost of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damagesuch improvements. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed accordance with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.sub-
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Damage and Destruction. If at any time during the Term all or a portion of the Premises are damaged by a fire or other casualty, Landlord shall notify Tenant within sixty (60) days after Landlord becomes aware of such damage as to the amount of time Landlord reasonably estimates it will take to restore the Premises. If the Leased Premises or any part thereof or any appurtenance thereto restoration time is so damaged by fireestimated to exceed nine (9) months from the issuance of all permits, casualty or structural defects that subject to extensions for Force Majeure (up to a maximum of 120 days of such Force Majeure extensions), Landlord may elect to terminate this Lease and if such restoration period is greater than twelve (12) months from the same cannot be used for Lessee’s purposesissuance of all permits, then Lessee Tenant may, as its sole remedy, terminate this Lease on or before thirty (30) days after receipt of Landlord’s notice describing the estimated restoration time that is greater than twelve (12) months. In addition, Landlord, by notice to Tenant within ninety (90) days after the date of the fire or other casualty shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as lease if: (1) any Mortgagee requires that the insurance proceeds be applied to the payment of the date mortgage debt or ground lease, or (2) a material uninsured loss to the Premises occurs. If neither party either elects to terminate this Lease as provided above or if neither party has the right to terminate this Lease as provided above, then, subject to receipt of sufficient insurance proceeds, Landlord shall promptly commence to restore the Premises, subject to delays arising from the collection of insurance proceeds or from Force Majeure events. During such restoration, Landlord shall endeavor to consult with Tenant’s specialists and consultants to ensure that such improvements are restored to be suitable for Tenant’s use; provided, however, Landlord shall be entitled to reject any changes requested by Tenant’s specialists and consultants to Landlord’s planned improvements to the extent such changes are unreasonable or incur costs that exceed the insurance proceeds received by Landlord for such restoration improvements and Landlord shall have the right to reject, in Landlord’s sole, absolute, and unfettered discretion, any such changes that do incur costs that exceed the insurance proceeds received by Landlord. Such restoration shall be to substantially the same condition that existed prior to the fire or other casualty, except for modifications required by Applicable Laws. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant insurance with respect to any Alterations, provided if the estimated cost to repair such Alterations exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such damagerepairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. In making Within fifteen (15) days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs called for in to such Alterations. Notwithstanding the foregoing, if this paragraphLease is terminated pursuant to the provisions of this Section 16, Lessor the total amount that Tenant is required to assign or pay to Landlord under this sentence shall not be liable for any delays resulting from strikesexceed the cost of restoring the Alterations to a Building-standard configuration and condition, governmental restrictions, inability as reasonably determined by Landlord and Landlord shall promptly return to obtain necessary materials or labor or other matters which are beyond Tenant the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentsamount, if any, but if no further payments are to be made, by which the sum of such insurance proceeds plus any such advance payments additional excess costs paid to Landlord by Tenant on an estimated basis exceeds the actual cost of such restoration. Landlord agrees that one hundred percent (100%) of the property insurance proceeds payable to Tenant under Tenant’s insurance with respect to any Alterations which are assigned or endorsed over to Landlord (or to any party designated by Landlord) and any excess costs of repairs paid by Tenant to Landlord, as required pursuant to this Section, shall be refunded used by Landlord to Lesseerestore the Alterations. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in In no event shall Xxxxxx’s obligation Landlord be required to restore, replace or rebuild exceed an amount equal to spend more for the sum restoration of the Premises than the proceeds received by Landlord, whether insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.or
Appears in 1 contract
Samples: Single Tenant Industrial Triple Net Lease (GenMark Diagnostics, Inc.)
Damage and Destruction. If at any time during the Term all or a portion of the Premises are damaged by a fire or other casualty, Landlord shall notify Tenant within sixty (60) days after Landlord becomes aware of such damage as to the amount of time Landlord reasonably estimates it will take to restore the Premises. If the Leased Premises or any part thereof or any appurtenance thereto restoration time is so damaged by fireestimated to exceed nine (9) months from the issuance of all permits, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to Landlord may elect by notice to Lessor to terminate this Agreement Lease and Tenant may, as its sole remedy, terminate this Lease on or before thirty (30) days after receipt of Landlord's notice describing the estimated restoration time that is greater than nine (9) months. If neither Landlord or Tenant elects to terminate this Lease under the terms of this Section 16, but the damage required to be repaired by Landlord is not repaired within the period nine (9) months from the issuance of all permits (the “9 Month Period”) (subject to extension for any Force Majeure events, provided that in no event shall such extension exceed 90 days), then Tenant (subject to the provisions of this Section 16), within thirty (30) days after the end of such 9 Month Period, may terminate this Lease by written notice to Landlord, in which event this Lease shall terminate as of the date of receipt of the notice. Notwithstanding the foregoing, if Landlord is diligently proceeding to complete the repair of such damage, then Tenant shall not have the right to terminate this Lease if, prior to the expiration of the 9 Month Period, Landlord, at Landlord’s sole option, gives written notice to Tenant that the repairs will be completed within thirty (30) days after the end of such 9 Month Period, and the repairs are actually completed within such thirty (30) day period. If the repairs are not completed within thirty (30) days after the end of such 9 Month Period, then Tenant may terminate this Lease by written notice to Landlord. Such notice of termination shall be given within sixty (60) days after the end of such 9 Month Period, and shall be effective upon receipt thereof by Landlord. In making addition, Landlord, by notice to Tenant within ninety (90) days after the date of the fire or other casualty shall have the right to terminate this lease if: (1) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt or ground lease, or (2) a material uninsured loss to the Building or Premises occurs. If neither party either elects to terminate this Lease as provided above or if neither party has the right to terminate this Lease as provided above, then Landlord shall promptly commence to restore the Premises, subject to delays arising from Force Majeure events. Such restoration shall be to substantially the same condition that existed prior to the fire or other casualty, except for modifications required by Applicable Laws. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant insurance with respect to the Improvements and any Alterations, provided if the estimated cost to repair such Improvements and Alterations exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Within fifteen (15) days of demand, Tenant shall also pay Landlord for any additional excess costs that are determined during the performance of the repairs called for in this paragraph, Lessor to such Alterations. Landlord shall not be liable for any delays inconvenience to Tenant, or injury to Tenant’s business resulting in any way from strikes, governmental restrictions, inability to obtain necessary materials or labor the fire or other matters which are beyond casualty, or the reasonable control of Lessorrepair thereof. Lessee If this Lease is not terminated by Landlord or Tenant in accordance with this section, Tenant shall be relieved responsible for and shall pay to Landlord all Commercially Reasonable Deductibles or Self-insurance Retentions. Tenant at Tenant's expense shall promptly perform, subject to delays arising from paying rent the collection of insurance proceeds, or from Force Majeure events, all repairs or restoration not required to be done by Landlord and other charges shall promptly re-enter the Premises and commence doing business in accordance with this Lease. Notwithstanding the foregoing, either party may terminate this Lease if the Premises are damaged during any portion the last year of the Lease Term and Landlord reasonably estimates that it will take more than the Leased Premises are inoperable or unfit for occupancylesser of (a) three (3) months, or use(b) one-third of the remainder of the Term, in whole to repair such damage. Provided no monetary Event of Default or in partmaterial non-monetary Event of Default by Tenant has occurred, for Lessee’s purposes. Rentals Base Rent and other charges paid in advance for any such periods Operating Expenses and Real Property Taxes shall be credited abated for the period of repair and restoration commencing on the next ensuing paymentsdate of such casualty event in the proportion which the area of the Premises, if any, but which is untenantable bears to the total area of the Premises. For the sake of clarity, such abatement shall apply even if no further payments are to be made, any such advance payments shall be refunded to Lessee. The this Lease is terminated in accordance with the foregoing provisions of this paragraph extend not Section 16. Such abatement shall be the sole remedy of Tenant, and except as provided herein, Tenant waives any right to terminate this Lease by reason of damage or casualty loss. Tenant agrees that the terms of this Section 16 shall govern any damage or destruction and shall accordingly supersede any contrary statute or rule of law. Consequently, Tenant waives any right to terminate the Lease by reason of damage or casualty loss accorded Tenant by any law currently existing or hereafter enacted, including without limitation, all rights pursuant to California Civil Code Sections 1932(2.), 1933(4.), 1941 and 1942 and any similar or successor laws. Landlord and Tenant agree that the provisions of this Section 16 shall only to apply when the matters aforesaid, but also to any occurrence which Premises is beyond Lessee’s reasonable control and which renders physically damaged or the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum structural integrity of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged degraded as a result of any neglect a fire or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as other casualty. In no event shall a result of Xxxxxx’s use and occupancy temporary closure of the Leased Building or the Property for the purpose of protecting public health constitute physical damage to the Premises, then Lessee nor shall Tenant’s inability to productively use the Premises during any such temporary closure be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in deemed a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseecasualty.
Appears in 1 contract
Samples: Single Tenant Industrial Triple Net Lease (Velo3D, Inc.)
Damage and Destruction. (a) In case of any material damage to or destruction of any portion of the Premises, Tenant shall promptly give written notice thereof to Landlord. If any portion of the Leased Premises shall be partially damaged by fire or other casualty, then Landlord, except as otherwise provided herein, shall proceed promptly and with due diligence to repair and restore the damaged portion to substantially the same condition and quality as prior to such damage. If any part of the Premises shall be damaged, but not such a substantial portion thereof as to impair Tenant's ability to conduct Tenant's business in Tenant's normal course, then such portion thereof as has been rendered untenantable by reason of such damage shall be repaired by Landlord and until such repairs are completed, the Base Rent payable hereunder shall be abated to the extent that such Base Rent for such portion relates to the total space for the period from the date of such damage to the date when such portion shall have been made tenantable. Tenant understands that Landlord will not carry insurance of any kind on Tenant's property, to wit; Tenant's goods, inventory, furniture or furnishings or any fixtures, equipment, or improvements, and that Landlord shall not be obligated to repair any damage thereto or replace the same. (b) In the event the Premises is totally destroyed or such portion thereof is damaged as will prevent Tenant from conducting Tenant's business in Tenant's normal course, Landlord, at Landlord's sole expense, shall promptly and with due diligence repair and restore the Premises or any part the damaged portion thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that to substantially the same condition and quality as prior to such damage. (i) If in the reasonable opinion of a licensed architect retained by Landlord, the Premises cannot be used substantially repaired or restored within one hundred (100) days from the date of damage or destruction, the Lease and the leasehold interest herein granted may be terminated by either party by written notice delivered to the other party within thirty (30) days after the date of receipt of notice from Landlord's architect setting forth the projected repair period. Notice of termination by either party to the other party will specify a date, not less than ten (10) days after the date of such notice, for Lessee’s purposessuch termination. In the event of giving of such notice of termination, this Lease shall expire as of the date specified in such notice with the same effect as if such date where the date hereinbefore specified for the expiration of the Term, and the Base Rent payable hereunder shall be apportioned as of such date of such fire or other casualty, subject to abatement, if any, as and to the extent provided in Section 13(a) hereof. -------------- (ii) Notwithstanding the provisions of this Section 13fa). in the event the Premises is destroyed or damaged to the extent of thirty-three percent (33%) or more of the replacement value thereof during the last two (2) years of the Term or during the last two (2) years of any Option Period of the Lease, then Lessee shall have the right within days following damage to either Tenant or Landlord may elect by notice to Lessor to terminate this Agreement Lease as of the date of such damagedamage or destruction by giving written notice to the other within sixty (60) days of such damage or destruction except Tenant can negate Landlord's termination if Tenant exercises the renewal option. In making the repairs called for in If this paragraphLease is terminated as herein provided, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying then all prepaid rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments by Tenant shall be refunded by Landlord to LesseeTenant. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee14.
Appears in 1 contract
Samples: Force Protection Inc
Damage and Destruction. If the Leased Premises are damaged or any part thereof destroyed, but the Prime Lease is not terminated, then this Sublease shall continue, and Subtenant’s right to an abatement of the Base Rent due under this Sublease and/or repairs to the Premises from Prime Landlord under the Prime Lease shall be dependent upon whether Sublandlord receives, with respect to the Premises, an abatement of Base Rent (as such term is defined in the Prime Lease) or any appurtenance thereto is repairs under the Prime Lease. To the extent that Sublandlord receives such an abatement of Base Rent under the Prime Lease, such abatement of Base Rent shall be passed on to Subtenant (which shall in no event exceed the amount of Base Rent and Additional Rent Subtenant shall have paid or as shall be payable under this Sublease, in each case, on a per square foot basis and applicable to the area so damaged for such period), after retention by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as Sublandlord of the date actual out of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent pocket costs and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentsexpenses, if any, but if no further payments are in obtaining such abatement. All other Base Rent, Additional Rent and other sums due under this Sublease shall continue to be madedue and payable as provided under this Sublease, unaffected by such damage or destruction or reduction in Base Rent. If such damage or destruction results from any act or omission of Subtenant, then Subtenant shall indemnify against and hold Sublandlord harmless from all losses, costs and expenses (including reasonable attorneys’ fees) incurred by Sublandlord as a result thereof, such advance payments shall be refunded indemnification to Lesseeoperate whether or not Subtenant has placed and maintained the insurance specified in this Article, and whether or not proceeds from such insurance (such insurance having been placed and maintained) actually are collectible from the insurance company. The provisions of this paragraph extend not only Prime Landlord or Sublandlord may exercise any and all rights to terminate the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, Prime Lease in the event of total any damage or substantial destruction, whether or not such damage or destruction affects the Premises and without regard to the Leased Premises that in no event shall Xxxxxx’s obligation effect of such termination on the Sublease. If Prime Landlord or Sublandlord is required, or elects, to restorerebuild or restore improvements, replace alterations, additions and the like under the Prime Lease, then Prime Landlord or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, Sublandlord and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agentsagents and contractors may have access to the Premises and may store materials in or about the Premises as reasonably necessary for Prime Landlord or Sublandlord to complete such rebuilding or repair, inviteeswithout the same constituting a constructive eviction or giving Subtenant any right to terminate this Sublease or offset or xxxxx rent, except to the limited extent Base Rent may be reduced under the conditions expressly set forth above. Subtenant hereby waives all rights to terminate this Sublease because of damage or destruction of the Premises or any portion thereof. Subtenant hereby waives all claims for damages for injury, inconvenience, or interference with quiet enjoyment or Subtenant’s business, or any independent contractors serving Lessee other loss occasioned by Prime Landlord’s or in Sublandlord’s work or entry under any way as a result provision of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseethis Sublease.
Appears in 1 contract
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto the Facility is so damaged by firefire or other casualty, casualty or structural defects that then Port shall repair the same provided that funds for such repairs are appropriated by Port, in its sole discretion, for such purpose and that such repairs can be made within the Repair Period. In the event such conditions are satisfied, this Lease shall remain in full force and effect except that so long as such damage or casualty is not attributable to Tenant, its Agents or Invitees, Tenant shall be entitled to a proportionate reduction of Base Rent during the Repair Period based upon the extent to which such damage and the making of such repairs materially interferes with Tenant's use or occupancy of the Premises less any insurance proceeds Tenant receives, or would have received if Tenant complied with the requirements set forth in Section 16 above, which proceeds are to be applied against the payment of Rent during any Repair Period. Port shall use its commercially reasonable efforts to notify Tenant within ninety (90) days after the date of such damage whether or not such repairs can be made within the Repair Period, and Port's determination thereof shall be binding on Tenant. If such repairs cannot be used for Lessee’s purposesmade within the Repair Period, then Lessee Port shall have the right option to notify Tenant of: (a) Port's intention to repair such damage and diligently prosecute such repairs to completion within days following damage a reasonable period after the Repair Period, subject to elect by notice to Lessor appropriation of funds, in which event this Lease shall continue in full force and effect and the monthly Base Rent shall be reduced as provided herein; or (b) Port's election to terminate this Agreement Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Port. In case of termination, the monthly Base Rent shall be reduced as provided above, and Tenant shall pay such reduced monthly Base Rent up to the date of termination. If Port elects not to appropriate funds for such repair, Port shall give written notice to Tenant within sixty (60) days after the date Port elects not to appropriate funds of its election to terminate this Lease as of the date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by Port. In case of termination, the monthly Base Rent shall be reduced as provided above, and Tenant shall pay such reduced monthly Base Rent up to the date of termination. If at any time during the last six (6) months of the Term, the Premises or the Facility is damaged or destroyed, then either Port or Tenant may terminate this Lease by giving written notice to the other party of its election to do so within thirty (30) days after the date of the occurrence of such damage; provided, however, Tenant may terminate only if such damage or destruction substantially impairs its use or occupancy of the Premises for the Permitted Use. In making The effective date of termination shall be specified in the repairs called for in this paragraphnotice of termination, Lessor which date shall not be liable for any delays resulting more than thirty (30) days from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion date of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposesnotice. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only Notwithstanding anything to the matters aforesaidcontrary in this Lease, but also (i) Port shall have no obligation to repair the Premises or the Facility, (ii) Tenant shall not be entitled to any occurrence which is beyond Lessee’s reasonable control abatement of Rent, and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however(iii) Tenant shall not be entitled to terminate this Lease, in the event the damage or destruction is attributable to any act or omission of total Tenant, its Agents, or substantial destruction to the Leased Premises that in Invitees. In no event shall Xxxxxx’s obligation Port be required to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor repair any damage to Tenant's Property or any part of paneling, decorations, railings, floor coverings, or any Improvements or other Alterations installed or made on the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage by or at the cost expense of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinancesTenant. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance companyFacility is substantially damaged or destroyed and Port intends to rebuild for public purposes inconsistent with this Lease, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including Port may terminate this Lease upon written notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeTenant.
Appears in 1 contract
Samples: Lease Agreement
Damage and Destruction. If the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for Anything in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only Sublease to the matters aforesaidcontrary notwithstanding, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, (a) in the event of total damage or substantial destruction to the Leased Subleased Premises that in no event shall Xxxxxx’s obligation to restoreor the material services relating thereto (i.e., replace heat, air conditioning, elevator service, electricity and water) or rebuild exceed an amount equal the means of ingress or egress therefrom by fire or other casualty, whether to the sum Building or otherwise (collectively, “Casualty”) and Sublandlord or Overlandlord has not substantially completed its portion of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part restoration of the Leased affected portion of the Subleased Premises to substantially its condition immediately prior to the Casualty (excepting any leasehold improvements made by Subtenant) within 270 days from the occurrence of such Casualty (and provided access to the Subleased Premises is also restored), then the Subtenant may elect to terminate this Sublease on notice to the Sublandlord at any time after such 270 day period and before the completion of such restoration, or (b) if the Casualty shall occur in the last eighteen (18) months of the term of this Sublease, then, provided the Casualty was not caused by the uninsurable acts or omissions of Subtenant, its partners, officers, directors, employees, agents, contractors, representatives, invitees, permitted assigns, or affiliates, Subtenant may terminate this Sublease by written notice to Sublandlord within 30 days following the receipt of notice by Sublandlord that such restoration cannot be completed within the 270-day period. Such notice by Sublandlord shall be given within 45 days of the Casualty. If Subtenant elects to terminate under this provision, this Sublease shall terminate on the date of the occurrence of the Casualty as the effective date of termination. Within 30 days of the date that Subtenant has delivered the foregoing notice of termination, Subtenant shall vacate and surrender possession of the Subleased Premises, Fixed Rent, Additional Rent and other amounts payable under this Sublease shall be prorated as of such effective date and the parties shall have no further obligations hereunder. A determination as to the time necessary to substantially restore the Subleased Premises shall be made promptly after such occurrence by a licensed, reputable general contracting firm or architect, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee contractor or architect shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see determine that the same are properly disposed of according to all localSubleased Premises cannot be restored within such 270-day period, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeSubtenant may terminate this Sublease.
Appears in 1 contract
Damage and Destruction. If the Leased Premises are hereafter damaged or any part thereof destroyed or any appurtenance thereto rendered partially untenantable for their permitted use by fire or other casualty insured under the coverage which Landlord is so damaged by fireobligated to carry pursuant to Section 11.1 hereof, casualty or structural defects that Landlord shall promptly repair the same canto substantially the condition which they were in immediately prior to the happening of such casualty (excluding stock in trade, fixtures, furniture, furnishings, carpeting, floor covering, wall covering, drapes and equipment), and from the date of such casualty until the Premises are so repaired and restored, only the Minimum Monthly Rent payments payable hereunder shall abatx xx such proportion as the part of said Premises thus destroyed or rendered untenantable bears to the total Premises; PROVIDED, HOWEVER, that Landlord shall not be used obligated to repair and restore if such casualty is not covered by the insurance which Landlord is obligated to carry pursuant to Section 11.1 hereof or is caused directly or indirectly by the negligence of Tenant, its agents, and employees and in either of such events, no portion of the Minimum Monthly Rent and other payments payable hereunder shall abatx, xxd PROVIDED, FURTHER, that Landlord shall not be obligated to expend for Lessee’s purposesany repair or restoration an amount in excess of the insurance proceeds received by Landlord therefor, and provided, further, that if the Premises be damaged, destroyed or rendered untenantable for their accustomed uses by fire or other casualty to the extent of more than fifty percent (50%) of the cost to replace the Premises during the last year of the Lease Term, then Lessee Landlord shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement Lease effective as of the date of such damagecasualty by giving to Tenant, within sixty (60) days after the happening of such casualty, written notice of such termination. In making If such notice be given, this Lease shall terminate and Landlord shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the date of such casualty. Any time that Landlord repairs called or restores the Premises after damage or destruction, then Tenant shall promptly repair or replace its stock in trade, fixtures, furnishings, furniture, carpeting, wall covering, floor covering, drapes, equipment and Premises to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Notwithstanding anything to the contrary set forth herein, in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials the event all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term Center shall be damaged or destroyed by fire or other cause (notwithstanding that the Leased Premises are inoperable may be unaffected thereby), to the extent the cost of restoration thereof would exceed twenty-five percent (25%) of the amount it would have cost to replace the Center in its entirety at the time such damage or unfit for occupancydestruction occurred, then Landlord or useTenant may terminate this Lease by giving the other ninety (90) days prior notice of Landlord's election to do so, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods which notice shall be credited on the next ensuing paymentsgiven, if anyat all, but if no further payments are to be made, any within ninety (90) days following the date of such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damageoccurrence. In the event of minor damage to any part the termination of the Leased Premisesthis Lease as aforesaid, and if this Lease shall cease ninety (90) days after such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises notice is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessorgiven, and the party or parties causing said damage. Any damage rent and other charges hereunder shall be adjusted as of that is not covered by an insurance company will be the liability of Lesseedate.
Appears in 1 contract
Samples: Havana Republic Inc/Fl
Damage and Destruction. If at any time during the Term all or a portion of the Premises are damaged by a fire or other casualty, then Tenant shall promptly notify Landlord. Within 60 days after Landlord becomes aware of such damage, Landlord shall inform Tenant of the amount of time Landlord reasonably estimates to restore the Premises (including the restoration of any Alteration made by Landlord), except for modifications required by Applicable Laws, and excluding the repair, restoration or replacement of the fixtures, equipment, or Alterations made by Tenant or a Tenant Party. If the Leased Premises or any part thereof or any appurtenance thereto restoration time is so damaged by fire, casualty or structural defects that estimated to exceed 9 months from the same cannot be used for Lessee’s purposesissuance of all required permits, then Lessee shall have either Tenant (unless the right within days following damage to was caused by Tenant’s negligence or intentional act) or Landlord may elect by notice to Lessor to terminate this Agreement Lease effective as of the date of fire or other casualty by giving notice to the other within 15 days after Landlord’s notice, and Tenant shall promptly remove any salvageable personal property it seeks to retain from the Premises if Landlord deems the Premises safe for entry. In addition, Landlord shall have the right to terminate this Lease, if the loss is not covered by insurance, within 30 days of receiving notice of this fact. If this Lease is not, or cannot be, terminated in accordance with the foregoing, then, subject to receipt of sufficient insurance proceeds and delays due to Force Majeure, Landlord shall commence to restore the Premises (including any Alterations made by Landlord) to substantially the same condition that existed immediately prior to the fire or other casualty, except for modifications required by Applicable Laws, and excluding the repair, restoration or replacement of the fixtures, equipment, or Alterations made by Tenant or a Tenant Party. Notwithstanding the foregoing, each of Tenant (unless the damage was caused by Tenant’s negligence or intentional act) and Landlord may terminate this Lease if the Premises are damaged by a fire or other casualty during the last year of the Term and Landlord reasonably estimates that it will take more than 3 months to repair such damage. In making Rent shall be abated from the repairs called for time of a fire or other casualty until Landlord’s repair and restoration obligations are completed by the percentage equal to the area of the Premises that is untenantable, if any, divided by the total area of the Premises. Such abatement shall be the sole remedy of Tenant, and except as provided in this paragraphSection, Lessor Tenant waives any right to terminate this Lease by reason of damage or casualty loss. Landlord shall not be liable for any delays resulting from strikes, governmental restrictions, inability inconvenience to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancyTenant, or use, in whole or in part, for Lesseeinjury to Tenant’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or business resulting in any way as from a result fire or other casualty or the repair thereof. Tenant shall not interfere with or delay, and instead cooperate with Landlord, in Landlord’s completion of XxxxxxLandlord’s use repair and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing restoration obligations. Tenant agrees that the proper claims are placed with Xxxxxx’s insurance company, terms of this Section shall govern any damage or the damaging party’s insurance company, destruction and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party accordingly supersede any contrary statute or parties causing said damage. Any damage that is not covered by an insurance company will be the liability rule of Lesseelaw.
Appears in 1 contract
Samples: Lease (AeroVironment Inc)
Damage and Destruction. If In the Leased event the Premises are damaged by any peril covered by standard policies of fire and extended coverage insurance to an extent which is less than fifty percent (50%) of the cost of replacement of the Premises, the damage to that portion of the Premises which Landlord is obligated to insure pursuant to the immediately preceding paragraph hereof, shall promptly be repaired by landlord, at Landlord's expense but in no event shall Landlord be required to repair or replace Tenant's stock-in-trade, trade fixtures, furniture, furnishings, special equipment and personal property which Tenant is required to insure pursuant to the immediately preceding paragraph hereof. In the event of such damage and (a) Landlord is not required to repair as provided herein, or (b) the Premises are damaged to the extent of fifty percent (50%) or more of the cost of replacement of the Premises, or (c) the Building is damaged to the extent of fifty percent (50%) or more of the cost of replacement, or (d) such damage is twenty-five percent (25%) or more of the cost of replacement of the Premises and the same occurs during the last year of initial term or any extensions or renewal terms of this Lease, then, in any such event (s), Landlord may elect either to repair or rebuild the Premises or any part thereof the Building of which the Premises are a part, as the case may be, or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as Lease upon giving notice of such election, in writing, to Tenant within ninety (90) days after the happening of the date of event causing such damage. In making If such damage, repairing or rebuilding shall render the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or useuntenantable, in whole or in part, for Lessee’s purposes. Rentals a proportionate abatement of the rent and other charges paid in advance for any such periods additional rent stipulated herein shall be credited allowed from the date such damage occurred until the date Landlord completes the repairs or rebuilding, said proportion shall be computed on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions basis of this paragraph extend not only the relation which the gross leasable area of the space rendered untenantable bears to the matters aforesaidgross leasable area of the Premises. If Landlord is required or elects to repair the Premises as provided herein, but also Tenant shall repair or replace its floor and wall coverings pursuant to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or useterms hereof, in whole a manner and to at least a condition equal to that prior to such damage or destruction; in partaddition, Tenant shall repair or replace its stock-in-trade, trade fixtures, furniture, furnishings, special equipment in a manner and to a condition Tenant deems appropriate and adequate for Lessee’s purposesthe conduct of its business within the Premises. It In addition, Tenant is understood, however, hereby given the sole option to terminate this Lease in the event of total repairing or substantial destruction rebuilding to be effected by Landlord and required hereunder cannot be completed within one hundred twenty (120) days from the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum date of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part occurrence of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseedestruction.
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Damage and Destruction. If Other than damage or destruction caused by the Leased Premises VILLAGE or any part thereof or any appurtenance thereto is so damaged by fireBOARD, casualty or structural defects that in the same cannot be used for Lessee’s purposes, then Lessee shall have event the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or useDEMISED AREA, in whole or in part, for Lessee’s purposes. Rentals and should be destroyed or so damaged by fire, windstorm or other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only casualty to the matters aforesaid, but also to any occurrence which extent the DEMISED AREA is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable rendered untenantable or unfit for occupancy the purposes intended, the VILLAGE may, at the VILLAGE’s sole option, either cancel this Agreement by giving sixty (60) day written notice to the BOARD, or userepair or replace the damaged/destroyed facilities, at the VILLAGE’s expense. If the VILLAGE opts to repair or replace the damaged/destroyed facilities, then the VILLAGE shall cause the damaged/destroyed facilities to be repaired or replaced, and placed in whole a safe, secure and useable condition within one hundred eighty (180) days from the date of said damage or destruction, or other reasonable period of time as mutually agreed to by the Parties, which shall be determined based upon the scope and nature of the damages, costs of the necessary repairs and available funding for such repairs. Should the damaged/destroyed facilities not be repaired and rendered tenantable within the aforementioned time period, then the BOARD may, at its sole option, place the VILLAGE in partdefault. Any damage or destruction sustained to all or portions of the DEMISED AREA that can be substantiated as having been caused as a result of the actions of one Party shall be repaired by such Party at such Party’s sole cost and expense. In that event, the responsible Party shall cause the damaged/destroyed facilities to be repaired or replaced, and placed in a safe, secure and useable condition within one hundred eighty (180) days from the date of said damage or destruction, or other reasonable period of time as mutually agreed to by the Parties, which shall be determined based upon the scope and nature of the damages, costs of the necessary repairs and available funding for Lessee’s purposessuch repairs. It is understoodShould the damaged/destroyed facilities not be repaired and rendered tenantable within the aforementioned time period, howeverthen the other Party may, at its sole option, place the Party responsible for the repairs in default. The Parties agree that in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum cancellation of the insurance proceeds available for reconstruction Agreement due to damage or destruction, the Parties shall surrender the DEMISED AREA in compliance with respect to said damage. In the event Article XX of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseethis Agreement.
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Samples: Joint Use Agreement
Damage and Destruction. If 11.1. During the Leased Premises Term, should the whole or any part or parts of the Improvements then on the Demised Premises be partially or wholly damaged or destroyed by fire or other casualty, Tenant shall give prompt notice thereof to Landlord and such destruction or damage shall not operate to terminate this Lease, but this Lease shall continue in full force and effect without any abatement or reduction of Rent. Tenant, at its own cost and expense, agrees to fully restore, rebuild or repair the Building and Improvements to a condition at least equal in value to the value immediately prior to a loss caused by fire or other insured casualty. Landlord shall in no event be called upon to rebuild the Business of any Improvements, nor to pay any of the costs or expenses thereof and Tenant shall be required to continue to pay rent. If such damage or destruction by reason of fire, the elements or any appurtenance thereto is so damaged by fireother cause be of such major part of the Demised Premises as shall render the remaining portion thereof incapable of being used as provided for herein, casualty or structural defects that shall occur after commencement of the same cannot be used last year of any applicable Term and Tenant shall not, within thirty (30) days following the casualty, elect to renew this Lease as and if provided for Lessee’s purposesherein, then Lessee Tenant shall have the right within days following damage option of canceling and terminating this Lease on giving Landlord sixty (60) days’ written notice of Tenant’s intention to elect do so and this Lease shall terminate on the thirtieth (3011’) day after receipt by notice to Lessor Landlord of Tenant’s notice. If Tenant elects to terminate this Agreement as of Lease in accordance with the date of such damage. In making foregoing option, and Tenant is in full compliance with the repairs called for in insurance requirements under this paragraphLease, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee Tenant shall be relieved from paying rent and other charges during any portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if under no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation duty to restore, replace rebuild or rebuild exceed an amount equal to repair the sum of the Improvements, and all insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged payable as a result of any neglect such damage or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy destruction of the Leased Premises, then Lessee or Improvements shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect paid to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of LesseeLandlord.
Appears in 1 contract
Samples: Ground Lease Agreement (EVO Transportation & Energy Services, Inc.)
Damage and Destruction. If In case the Leased Premises or any part thereof or any appurtenance thereto is so the Building are damaged by fire, condemnation or other casualty so as to render all or structural defects a portion of the Premises unusable by Tenant for the uses described in Section 7, and Landlord determines and notifies Tenant within thirty (30) days after such casualty that the same such damage cannot reasonably be used for Lessee’s purposesrepaired within one hundred twenty (120) days after Landlord receives permits, then Lessee approvals and licenses required to begin reconstruction, then, either party shall have the right option of terminating this Lease by providing written notice of such election to the other within ten (10) business days following damage to elect by notice to Lessor to terminate this Agreement as of the date of Landlord’s original notice to Tenant. If neither party elects to terminate this Lease pursuant to the preceding sentence, Landlord shall proceed with reasonable diligence to restore the Premises (exclusive of Alterations performed by or on behalf of Tenant and any Tenant’s property), but only to the extent of insurance proceeds received by Landlord therefor, to a usable condition, and Base Rent and Expense Charges shall be equitably reduced during restoration of the Premises. If the Premises should be damaged by fire, condemnation or other casualty so as to render all or a portion of the Premises unusable by Tenant for the uses described in Section 7, and Landlord determines and notifies Tenant within thirty (30) days after such damagecasualty that such casualty can reasonably be repaired within one hundred twenty (120) days after Landlord receives permits, approvals and licenses required to begin reconstruction, Landlord at its option, shall proceed with reasonable diligence to restore the Premises, but only to the extent of insurance proceeds received by Landlord therefor, to a usable condition and Base Rent and Expense Charges shall be equitably reduced during restoration of the Premises. In making Landlord hereby agrees to notify Tenant within sixty (60) days after Landlord is notified of such casualty of Landlord’s determination as to whether the repairs called for damage can reasonably be repaired within one hundred twenty (120) days after Landlord receives permits, approvals and licenses required to begin reconstruction and, if Landlord determines that such damage can reasonably be repaired within one hundred twenty (120) days after Landlord receives permits, approvals and licenses required to begin reconstruction, whether Landlord elects to terminate this Lease, if Landlord has such right, or to restore the Premises. Notwithstanding any other provision contained in this paragraphSection , Lessor the commencement of repairs or restoration by Landlord hereunder shall not in no event be deemed a representation or warranty by Landlord that such repairs or restoration can or will, in fact, be completed within the time period estimated by Landlord for such repair and in no event shall Landlord be liable to Tenant for any delays resulting from strikes, governmental restrictions, failure or inability to obtain necessary materials complete said repairs or labor restoration within any such estimated period; provided, however, if the Premises have not been restored as required under this Section 16 within thirty (30) days following the expiration of Landlord’s estimated restoration period (as set forth in Landlord’s notice to Tenant), subject to extension on account of Tenant Delays and Force Majeure delays, then Tenant may elect to terminate this Lease by delivery of thirty (30) days prior written notice to Landlord delivered at any time after the expiration of such 60-day period and provided further that such termination notice shall be null and void and this Lease shall remain in full force and effect if Landlord substantially completes its restoration obligation prior to the expiration of such 30-day period. Furthermore, notwithstanding any other provision contained herein to the contrary, if the Premises or any material portion thereof are destroyed or materially damaged by fire or other matters which are beyond casualty at any time during the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any portion last year of the Lease Term that or during the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for last year of any such periods shall be credited on the next ensuing paymentsrenewal term, if anyapplicable, but if no further payments are and, at the time of such casualty event this Lease has not been renewed for an additional term pursuant to any tenant renewal option rights as may be made, any such advance payments shall be refunded to Lesseecontained in Rider No. The provisions 2 attached hereto and made a part of this paragraph extend not only Lease, then, either of Landlord or Tenant shall have the right, at their option, to terminate this Lease by giving written notice of such election to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders other party within thirty (30) days after the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understooddate of such destruction; provided, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s Tenant have the right to terminate this Lease if the damage or destruction of the Premises is the result of the negligence or willful act of Tenant or Tenant's agents, employees, representatives, contractors or successors or assigns. Tenant acknowledges and agrees that Xxxxxxxx's obligation to restorerepair and restore under this Section 16 shall be limited to the repair and restoration of those improvements in place as of the Commencement Date, replace exclusive of any Alterations made or rebuild exceed paid for by Tenant. If this Lease is terminated by either party under this Section 16, Landlord shall be entitled to retain for its benefit, and Tenant shall immediately disburse to Landlord, the proceeds of insurance maintained by Tenant on the Alterations performed in or to the Premises during the Term; provided, that, Landlord shall reimburse to Tenant from such insurance proceeds an amount equal to the sum unamortized costs incurred by Tenant to perform any alterations and improvements made by Tenant to the Premises without reimbursement from any work allowances paid by Landlord (based on straight-line amortization over the remaining term of the insurance proceeds available for reconstruction with respect to said damage. In Lease), less the event deductible of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for LesseeTenant’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according to all local, state or federal laws, rules, regulations or ordinances. In the event the structure of the Leased Premises is damaged as a result of any neglect or negligence of Lessee, its employees, agents, invitees, or any independent contractors serving Lessee or in any way as a result of Xxxxxx’s use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lesseeinsurance.
Appears in 1 contract
Damage and Destruction. If during the Lease Term, the Leased Premises or any the Building becomes damaged or destroyed in whole or in part thereof or any appurtenance thereto is so damaged by fire, other casualty or structural defects any other cause (except condemnation), Tenant will immediately notify Landlord of such event. This Lease will remain in full force and effect, except that the same cannot Rent will be used abated proportionately to the extent and for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date of such damage. In making the repairs called for in this paragraph, Lessor shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials period that all or labor or other matters which are beyond the reasonable control of Lessor. Lessee shall be relieved from paying rent and other charges during any a portion of the Lease Term that the Leased Premises are inoperable or unfit for occupancy, or userendered untenantable. If Landlord determines, in whole its sole discretion, that the damage or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal and/or to the sum Building is so extensive that repair or restoration is uneconomical, or if Landlord otherwise decides not to repair or restore the Building, either of which determinations shall be made within sixty (60) days of the date that such casualty occurred, then this Lease will terminate on the first day after Landlord gives Tenant written notice of such termination. The Rent then will be adjusted and paid to the date of the damage or destruction. Tenant will immediately vacate and surrender the Leased Premises upon such termination. Tenant, however, will not be released from liability for any damage caused by Tenant or its agents or employees, or released from responsibility for any of its obligations under this Lease for the period before such termination. If Landlord decides to repair or restore the Leased Premises and/or the Building, it will do so with reasonable speed, subject to reasonable delays for: (a) adjusting losses under insurance proceeds available for reconstruction with respect to said damagepolicies; (b) labor troubles; or (c) any other cause beyond Landlord's reasonable control. In Notwithstanding the event provisions of minor damage to any part this Section, within sixty (60) days after the date of material destruction of the Leased Premises, and if such damage does not render Landlord shall obtain from Landlord's architect or contractor an estimate of the time which will be required to repair the Leased Premises unusable for Lessee’s purposes, Lessee Premises. Landlord shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention and which Lessee and/or their employees can do and perform on their own, including but not limited to: the replacement of light bulbs, normal repair and cleaning of windows, cleaning and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see that the same are properly disposed of according communicate said estimate to all local, state or federal laws, rules, regulations or ordinancesTenant. In the event that said estimate of time exceeds one hundred fifty (150) days from the structure date of such destruction, then Tenant shall have the right, within ten (10) days after receipt of said estimate, to terminate this Lease without any further liability or obligation on the part of the Leased Premises is damaged as a result parties hereto for obligations thereafter accruing, provided that Tenant shall give written notice to Landlord within said ten (10) days and shall not be in breach or default of any neglect covenant or negligence of Lesseecondition by which Tenant is obligated under this Lease. Landlord will cooperate with Tenant, its employeesto the extent space is available within the Property, agentstemporarily relocate Tenant, inviteesat Tenant's expense, or during any independent contractors serving Lessee or in any way as a result of Xxxxxx’s construction period during which Tenant is unable to use and occupancy of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.
Appears in 1 contract
Damage and Destruction. If the Leased Premises all or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Lessee’s purposes, then Lessee shall have the right within days following damage to elect by notice to Lessor to terminate this Agreement as of the date Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of such damage. In making the repairs called for in this paragraphoccurrence of the loss; provided, Lessor however, Landlord shall not be liable for any delays resulting from strikesobligated to commence such repair, governmental restrictionsrestoration or rebuilding until insurance proceeds are received by Landlord, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Lessor. Lessee and Landlord's obligation hereunder shall be relieved from paying rent and other charges during limited to the proceeds actually received by Landlord under any portion of the Lease Term that the Leased Premises are inoperable insurance policy or unfit for occupancy, or use, in whole or in part, for Lessee’s purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing paymentspolicies, if any, but if no further payments are less those amounts (i) which have been required to be made, applied towards the reduction of any such advance payments shall be refunded to Lessee. The provisions of this paragraph extend not only to indebtedness secured by a mortgage covering the matters aforesaid, but also to any occurrence which is beyond Lessee’s reasonable control and which renders the Leased Premises, Center or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Lessee’s purposes. It is understood, however, in the event of total or substantial destruction to the Leased Premises that in no event shall Xxxxxx’s obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage. In the event of minor damage to any part of the Leased Premisesportion thereof, and if such damage does not render the Leased Premises unusable (ii) which are used to reimburse Landlord for Lessee’s purposes, Lessee shall promptly repair such damage at the cost of Lessee, particularly items which need immediate attention all costs and which Lessee and/or their employees can do and perform on their ownexpenses, including but not limited to: to attorneys' fees, incurred by Landlord to recover any such insurance proceeds. Xxxxxx agrees to notify Landlord in writing not less than thirty (30) days prior, to the replacement date Tenant opens for business in the Premises of light bulbsthe actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), normal but exclusive of Tenant 1 s personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a bill therefore, and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord's obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Xxxxxx's fixtures, furniture, furnishings, floor coverings, equipment and cleaning of windows, cleaning stock in trade and clearing of toilets, etc. Lessee shall promptly and properly remove all rubbish and hazardous wastes and see reopen for business in the Premises within thirty (30) days after notice from Landlord that the same Premises are properly disposed of according ready for re-occupancy. No damage or destruction to all local, state or federal laws, rules, regulations or ordinances. In the event the structure Premises shall allow Xxxxxx to surrender possession of the Leased Premises is damaged as a result nor affect Xxxxxx's liability for the payment of any neglect rents or negligence of Lessee, its employees, agents, invitees, charges or any independent contractors serving Lessee other covenant herein contained, except as may be specifically provided in this Lease. Notwithstanding anything to the contrary contained in this Section or elsewhere in any way as a result of Xxxxxx’s use this Lease, Landlord, at its option, may terminate this Lease by giving Tenant notice thereof within one hundred and occupancy eighty (180) days from the date of the Leased Premises, then Lessee shall be primarily responsible for seeing that the proper claims are placed with Xxxxxx’s insurance company, or the damaging party’s insurance company, and shall furthermore be responsible for seeing that the Building is safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely manner, including notice to Lessor, and the party or parties causing said damage. Any damage that is not covered by an insurance company will be the liability of Lessee.casualty if:
Appears in 1 contract
