Damage and Destruction. Section 15.01 If the Premises are damaged by fire, earthquake, act of God or the elements, Landlord shall forthwith repair the same, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made within ninety (90) days under applicable state, federal and city and county laws and regulations. This Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety (90) days, either Landlord or Tenant may, upon written notice to the other within ninety (90) days after the date of such fire or other casualty, repair or restore such damage, this Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to the other given not less than sixty (60) days and not more than ninety (90) days after the date of such fire or other casualty, terminate this Lease as of the date of such fire or other casualty.
Appears in 2 contracts
Samples: Lease Agreement (Janus Hotels & Resorts Inc), Lease Agreement (Janus Hotels & Resorts Inc)
Damage and Destruction. Section 15.01 If the Premises are damaged by fire, earthquake, act of God or the elements, Landlord shall forthwith cause Owner to repair the same, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made within ninety (90) days under applicable state, federal and city and county laws and regulations. This Sub-Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Sub-Tenant or Sub-Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Sub-Tenant in the for such part of the Premises as shall be rendered unusable by Sub-Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety (90) days, either Landlord or Sub-Tenant may, upon written notice to the other within ninety (90) days after the date of such fire or other casualty, repair or restore such damage, this Sub-Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Sub-Tenant's occupancy) Sub-Tenant may, by written notice to the other given not less than sixty (60) days and not more than ninety (90) days after the date of such fire or other casualty, terminate this Sub-Lease as of the date of such fire or other casualty.
Appears in 1 contract
Damage and Destruction. Section 15.01 If the Premises are or Building is damaged by fire, earthquake, act of God fire or the elements, other casualty then Landlord shall forthwith repair notify Tenant in writing (“Landlord’s Damage Notice”) of the sameestimated time, subject in Landlord’s reasonable judgment, required to substantially complete the provisions repairs of this Section hereinafter set forth and provided such repairs can be made within ninety damage (90) days under applicable state, federal and city and county laws and regulationsthe “Landlord’s Restoration Work”). This Lease shall remain in full force and effect, except that if there shall be In the event of such damage to the Premises and or the Building by fire or other casualty: (i) Landlord may terminate the Lease if either (A) Landlord’s Restoration Work cannot, in Landlord’s opinion, reasonably be substantially completed within one hundred eighty (180) days after Landlord delivers Landlord’s Damage Notice to Tenant (when such repairs are made by a qualified contractor without the payment of overtime or other premiums), or (B) the damage is not fully covered by Landlord’s insurance policies obtained or required to be obtained by Landlord pursuant to Section 8.3(i) above the result damage cannot, in the professional judgment of a licensed contractor engaged by Txxxxx, be substantially completed by the date which is the earlier of the negligence Lease Expiration Date or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety one hundred eighty (90) days, either Landlord or Tenant may, upon written notice to the other within ninety (90180) days after the date of the damage; and (ii) if such fire or other casualtydamage is a Tenant Damage Event (as defined hereinbelow), repair or restore such damage, Tenant may terminate this Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove providedLease. If Landlord either party so elects not to make such repairs which cannot be made within ninety (90) daysterminate this Lease, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, it must do so by delivering written notice thereof to the other given not less than sixty party within thirty (60) days and not more than ninety (9030) days after Lxxxxxxx’s delivery of Landlord’s Damage Notice, which termination shall be effective upon the date of such fire or other casualtytermination notice is delivered. As used herein, terminate this Lease as of the date of such fire or other casualty.a “
Appears in 1 contract
Damage and Destruction. Section 15.01 15.01. If the Premises are damaged by fire, earthquake, act of God or the elements, Landlord shall forthwith repair the same, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made within ninety four (904) days months under applicable state, federal and city and county laws and regulations. This Lease shall remain in full force and effect, except that if there shall be damage to the Premises Premises, and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety four (904) daysmonths, either Landlord or Tenant may, upon written notice to the other Landlord, within ninety thirty (90) days after the date of such fire or other casualty, repair or restore such damage, this Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to the other given not less than sixty (60) days and not more than ninety (9030) days after the date of such fire or other casualty, terminate this Lease as of the date of such fire or other casualty. The Landlord shall be required to notify the Tenant within fifteen (15) days of such casualty of whether the repairs can be completed within said four (4) month period. Notwithstanding the foregoing, Tenant may elect to terminate this Lease by written notice to Landlord within thirty (30) days of such fire or other casualty if, as a result thereof, at least twenty-five percent (25%) of the floor space in the Premises has been damaged and Tenant reasonably determines that it cannot carry on its business in the Premises as intended thereby; provided, however, that Tenant may not terminate this Lease in such event if Landlord provides reasonable written assurance to Tenant within fifteen (15) days of such fire or other casualty that it can restore the Premises to substantially the same condition they were in prior to the fire or other casualty and the Premises are in fact so restored no later than (i) four (4) months from the date of the fire or other casualty and (ii) six (6) months prior to the expiration of the current Lease term. In the event that Tenant terminates this Lease under this section, Tenant shall be entitled to the return of any Rent (including Additional Rent) paid by Tenant with respect to the period of the Lease term following the fire or other casualty.
Appears in 1 contract
Samples: Lease Agreement (Mim Corp)
Damage and Destruction. Section 15.01 If the Premises Premises, the Building or any Building Systems are damaged by fire, earthquake, act of God fire or the elementsother casualty, Landlord shall forthwith repair the samesame without delay (and if Landlord is then carrying insurance on Leasehold Improvements made by Tenant or if Tenant at its sole option makes funds available to Landlord, subject to the provisions of this Section hereinafter set forth and Landlord shall also repair such Leasehold Improvements), provided that such repairs can be made under applicable laws within ninety sixty (9060) days under applicable stateafter Landlord obtains all necessary permits for such repairs but not later than one hundred eighty (180) days after the date of such damage (the “Repair Period”). In such event, federal and city and county laws and regulations. This this Lease shall remain in full force and effect, except that if there Tenant shall be damage entitled to an abatement of Rent while such repairs are being made. Such abatement in Rent shall be based upon the Premises and extent to which such damage is and the making of such repairs interfere with Tenant’s business in the Premises. Landlord’s repairs shall not include, and the Rent shall not be abated as a result of of, any damage by fire or other cause to Tenant’s Personal Property or any damage caused by the negligence or willful misconduct of Tenant or Tenant's agentsits Agents. Within twenty (20) days after the date of such damage, employees Landlord shall notify Tenant whether or inviteesnot, a proportionate reduction in Rent shall Landlord’s reasonable judgment made in good faith, such repairs can be allowed Tenant in made within the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusableRepair Period. If such repairs cannot be made within ninety (90) days, either Landlord or Tenant may, upon written notice to the other within ninety (90) days after the date of such fire or other casualty, repair or restore such damage, this Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) daysRepair Period, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant party hereto may, by written notice to the other given not less than sixty within thirty (60) days and not more than ninety (9030) days after the date of such fire or other casualtydamage, terminate this Lease as of the date of specified in such fire or other casualty.notice, which date shall be not less than thirty (30) nor more than sixty
Appears in 1 contract
Samples: Industrial Lease
Damage and Destruction. Section 15.01 6 7 If either the Premises are or the Building containing the Premises is totally destroyed or so substantially damaged as to be untenantable by fire, lightning, earthquake, act of God windstorm or the elementsother casualty, Landlord shall forthwith repair the same, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made within ninety (90) days under applicable state, federal and city and county laws and regulations. This Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made repaired within ninety one hundred twenty (90120) days, this Lease may be terminated by either Landlord or Tenant may, party upon thirty (30) days written notice to the other within ninety (90) days after other, and rent shall be accounted for between the date Lessor and Lessee as the termination date. In the event of partial destruction or damage to the Premises, so as to render the Premises partially, but not wholly untenantable, this Lease shall not terminate but the annual rental rate shall be reduced in proportion to the area of the Premises which cannot be used or occupied by Tenant as a result of such fire or other casualty. Landlord shall, repair or restore such damage, this Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to the other given not less than sixty (60) days and not more than ninety (90) days after the date event of such partial damage or destruction, and within a reasonable time after said fire or other casualty, terminate this Lease subject to matters beyond Landlord's control and to the extent availability of insurance proceeds, restore the Premises to as of near the date of such same structural condition as existed prior to said fire or other casualty, but without prejudice to Tenant's responsibility therefor should the fire or other casualty have resulted from the act, negligence, or fault of Tenant or its representatives, agents, or invitees. In the event of partial damage or destruction of the Premises (not caused by act, negligence, or fault of Tenant or its representatives, agents or invitees) which renders the remainder of the Premises impractical for use during restoration, the whole of the rent shall abatx xxxing the restoration period. In the event of partial damage or destruction of the Premises, should the repairs or restoration not be completed for any reason within one hundred twenty (120) days from the date of said fire or casualty, Tenant may terminate this Lease by giving the Landlord written notice to terminate not later that one hundred (100) days after the fire or other casualty. In no event shall Tenant have any option to terminate nor shall rent abatx xx the fire or other casualty be the result of the act, negligence or fault of Tenant, or its representatives, agents, employees or invitees.
Appears in 1 contract
Damage and Destruction. Section 15.01 If (a) If, during the Lease Term, the Premises or other improvements located thereon or therein are damaged by fireor destroyed, earthquakewhether partially or entirely, act of God or the elementsfrom any insured casualty, Landlord shall forthwith repair the sameshall, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made within ninety (90) days under applicable state, federal and city and county laws and regulations. This Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety (90) days, either Landlord or Tenant may, upon written notice to the other within ninety (90) days after the date discovery of such fire damage or destruction, commence to restore the Premises to substantially the same condition as prior to such casualty and, subject to the availability of necessary governmental permits to complete such restoration, diligently prosecute same to completion. Landlord's obligation shall not include repair or replacement of Tenant's equipment, furnishings, fixtures, cabling, signage, personal property or non-standard tenant improvements. Damage to or destruction of any portion of the Building, fixtures, or other casualtyimprovements on the Premises by fire, repair the elements, or restore such damage, any other cause shall not terminate this Lease continuing in full force and effect but or entitle Tenant to surrender the Rent Premises or otherwise affect the respective obligations of the Parties, any present or future law to the contrary notwithstanding. If the existing laws do not permit the Premises to be proportionately reduced restored to substantially the same condition as hereinabove provided. If they were in immediately before such casualty and Landlord elects not is unable to make get a variance to such repairs which cannot be made laws to permit the commencement of restoration of the Premises within ninety (90) daysthe 90 day period, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, party may terminate this Lease by giving written notice to the other given not less than sixty party within thirty (60) days and not more than ninety (9030) days after the date expiration of such fire or other casualty90 day period, terminate in which event this Lease shall terminate as of the date of such fire notice. Notwithstanding the foregoing, in the event that Landlord decides under this Section 19(a) or other casualtyunder Section 19(b) within ninety (90) days following the discovery of such damage or destruction, to demolish the Premises rather than rebuild them, Landlord may notify Tenant in writing within such 90- day period of such election, in which event the Lease will terminate as of the date of such notice to Tenant.
Appears in 1 contract
Samples: Cacheflow Inc
Damage and Destruction. Section 15.01 If In the event the Premises or the Building are damaged by firefire or other perils covered by extended coverage insurance, earthquake, act of God or the elements, Landlord shall County agrees to forthwith repair the same, subject to the provisions of ; and this Section hereinafter set forth and provided such repairs can be made within ninety (90) days under applicable state, federal and city and county laws and regulations. This Lease shall remain in full force and effect, except that if Provider shall be entitled to a proportionate reduction of the rent while such repairs are being made, such proportionate reduction to be based upon the extent to which the making of such repairs shall materially interfere with the business carried on by the Provider in the Premises. If the damage is due to the fault or neglect of Provider or its employees, there shall be damage to no abatement of rent. In the event the Premises and such damage is not or the Building are damaged as a result of any cause other than the negligence or willful misconduct perils covered by fire and extended coverage insurance, then County shall forthwith repair the same, provided the extent of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall the destruction be allowed Tenant in less than ten (10%) percent of the for such part then full replacement cost of the Premises or the Building of which the Premises are a part, and provided that the rent to be proportionately reduced as hereinabove in this Paragraph 24 provided. In the event the destruction of the Premises or the Building is to an extent greater than ten (10%) percent of the full replacement cost, then County shall be rendered unusable by Tenant in have the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety option; (90l) days, either Landlord or Tenant may, upon written notice to the other within ninety (90) days after the date of such fire or other casualty, repair or restore such damage, this Lease continuing in full force and effect effect, but the Rent rent to be proportionately reduced as hereinabove in this Paragraph 24 provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord ; or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy2) Tenant may, by written give notice to Provider at any time within sixty (60) days after such damage terminating this Lease as of the other given not date specified in such notice, which date shall be no less than thirty (30) and no more than sixty (60) days after the giving of such notice. In the event of giving such notice, this Lease shall expire and not more than ninety all interest of the Provider in the Premises shall terminate on the date so specified in such notice and the Rent, reduced by a proportionate amount, based upon the extent, if any, to which such damage materially interfered with the business carried on by the Provider in the Premises, shall be paid up to the time of such termination. In case County shall fail to complete such repairs within one hundred eighty (90180) days after from the date of such damage, Provider may at any time after such one-hundred eighty (180) day period give County thirty (30) days’ notice in writing of termination of this Lease, then at the expiration of such thirty day period, this Lease shall terminate as completely as if that were the date fixed for expiration of the term of this Lease unless, County shall have substantially completed repairs prior to the expiration of such thirty day period. Notwithstanding anything to the contrary contained in this Paragraph 24, County shall not have any obligation whatsoever to repair, reconstruct or restore the Premises when the damage resulting from any casualty covered under this Paragraph 24 occurs during the last twelve (12) months of the Term of this Lease or any extension thereof. County shall not be required to repair any injury or damage by fire or other casualtycause, terminate this Lease as or to make any repairs or replacements of any panels, decoration, office fixtures, railings, floor covering, partitions, or any other property installed in the Premises by Provider. Provider shall not be entitled to any compensation or damages from County for loss of the date use of the whole or any part of the Premises. Provider's personal property or any inconvenience or annoyance occasioned by such fire damage, repair, reconstruction or other casualtyrestoration.
Appears in 1 contract
Samples: Development and Construction
Damage and Destruction. Section 15.01 (a) If the Premises are damaged Building is totally destroyed by fire, earthquaketornado or other casualty (a "Total Casualty"), act of God or the elements, Landlord which determination shall forthwith repair the same, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made within ninety sixty (9060) days under applicable stateof the date of such casualty by Landlord in good faith and in a commercially reasonable manner, federal and city and county laws and regulationsthen either Landlord or Tenant may elect to terminate the Term of this Lease as hereinafter provided. This The term "Total Casualty" shall mean that the Building cannot be repaired or restored in a commercially reasonable manner to a physical condition that is structurally sound or cannot be repaired or restored without first accomplishing the demolition of the base Building. If a Total Casualty is determined to have occurred, then either Landlord or Tenant may elect to terminate the Term of this Lease shall remain in full force and effectby giving written notice of such election to the other party within thirty (30) days after the date of Landlord's determination that a Total Casualty has occurred. If either Landlord or Tenant timely elects to terminate the Term of this Lease, except that if there then the termination shall be damage effective as of the date of such election or as of a date specified in the notice, which date may not be later than sixty (60) days following the date of the election by that party. In addition to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agentsforegoing, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of if the Premises as shall be rendered unusable by Tenant in or the conduct of its business during the time such part Building is so unusable. If damaged that Landlord reasonably determines in good faith and in a commercially reasonable manner (and provides written notice of such determination to Tenant within sixty (60) days of such casualty) that rebuilding or repairs cannot be made completed within ninety one hundred and eighty (90) days, either Landlord or Tenant may, upon written notice to the other within ninety (90180) days after the date of such fire or other casualty, repair or restore such damage, this or prior to the expiration of the seventh (7th) Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Year hereunder, Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to the other given not less than sixty (60) days and not more than ninety (90) days after the date of such fire or other casualtyat its option, terminate this Lease. If this Lease is terminated in accordance with the terms of this subparagraph (a), Rent will xxxxx for the unexpired portion of the Lease Term effective as of the date of such fire or other casualty. If neither Landlord nor Tenant timely elects to terminate, then the parties' shall perform their respective repair and restoration obligations as set forth in subparagraph (b) below.
Appears in 1 contract
Samples: Microstrategy Inc
Damage and Destruction. The last sentence of Section 15.01 If 11.2 of the Premises are damaged by fireLease is hereby deleted and replaced in its entirety with the following: “In addition, earthquake, act of God or the elements, Landlord shall forthwith repair the same, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made within ninety (90) days under applicable state, federal and city and county laws and regulations. This Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage restoration is not substantially complete on or before the result later of (i) the date that occurs fifteen (15) months after the date of discovery of the negligence or willful misconduct of Tenant or Tenant's agentsdamage, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in and (ii) the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety (90) days, either Landlord or Tenant may, upon written notice to the other within date that occurs ninety (90) days after the date expiration of the estimated period of time to substantially complete such fire or other casualtyrestoration, repair or restore such damageas set forth in Landlord’s Completion Notice (the “Outside Restoration Date”), this Lease continuing in full force and effect but which Outside Restoration Date shall be extended to the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety extent of any delays (90x) days, then either Landlord caused by Tenant or (provided the damage affects the Premises or Common Areas necessary y) caused by Force Majeure (up to Tenant's occupancy) Tenant may, by written notice to the other given not less than a maximum of sixty (60) days and of additional delay due to Force Majeure, provided that there shall be no such maximum for Force Majeure delays due to epidemics or pandemics caused by communicable diseases such as, but not more than ninety limited to, the 2020 Pandemic), then Tenant shall have the additional right during the first ten (9010) business days after following the date of Outside Restoration Date until such fire or other casualtyrepairs are complete, to terminate this Lease as by delivery of written notice to Landlord (the “Damage Termination Notice”), which termination shall be effective on a date specified by Tenant in such Damage Termination Notice (the “Damage Termination Date”), which Damage Termination Date shall not be less than ten (10) business days, nor greater than thirty (30) days, following the date of such fire or other casualtyDamage Termination Notice was delivered to Landlord.”
Appears in 1 contract
Samples: Lease (Penumbra Inc)
Damage and Destruction. Section 15.01 15.01. If the Premises are damaged by fire, earthquake, act of God or the elements, Landlord shall forthwith repair the same, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made within ninety four (904) days months under applicable state, federal and city and county laws and regulations. This Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety four (904) daysmonths, either Landlord or Tenant may, upon written notice to the other Landlord within ninety thirty (90) days after the date of such fire or other casualty, repair or restore such damage, this Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to the other given not less than sixty (60) days and not more than ninety (9030) days after the date of such fire or other casualty, terminate this Lease as of the date of such fire or other casualty. The Landlord shall be required to notify the Tenant within fifteen (15) days of such casualty of whether the repairs can be completed within said four (4) month period. Notwithstanding the foregoing, Tenant may elect to terminate this Leae by written notice to Landlord within thirty (30) days of such fire or other casualty if, as a result therof, at least twenty-five percent (25%) of the floor space in the Premises has been damaged and Tenant reasonably determines that it cannot carry on its business in the Premises as intended thereby; provided, however, that Tenant may not terminate this Lease in such event if Landlord provides reasonable written assurance to Tenant within fifteen (15) days of such fire or other casualty that it can restore the Premises to substantially the same condition they were in prior to the fire or other casualty and the Premises are in fact so restored no later then (i) four (4) months from the date of the fire or other casualty and (ii) six (6) months prior to the expiration of the current Lease term. IN the event that Tenant terminates this Lease under this section, Tenant shall be entitled to the return of any Rent (including Additional Rent) paid by Tenant with respect to the period of the Lease term following the fire or other casualty.
Appears in 1 contract
Samples: Lease Agreement (Mim Corp)
Damage and Destruction. Section 15.01 If (a) If, during the Term, the Premises or other improvements located thereon or therein are damaged or destroyed, whether partially or entirely, from any insured casualty, Landlord shall, within one hundred and fifty (150) days after such casualty, substantially complete the restoration of the Premises to substantially the same condition as prior to such casualty. Landlord's obligation shall not include repair or replacement of Tenant's equipment, furnishings, fixtures or personal property. Damage to or destruction of any portion of the building, fixtures, or other improvements on the Premises by fire, earthquake, act of God or the elements, or any other cause shall not terminate this Lease or entitle Tenant to surrender the Premises or otherwise affect the respective obligations of the parties, any present or future law to the contrary notwithstanding. If the existing laws do not permit the Premises to be substantially restored to substantially the same condition as they were in immediately before such casualty and Landlord is unable to get a variance to such laws to permit the restoration of the Premises within the 150-day period, then either party may terminate this Lease by giving written notice to the other party within thirty (30) days after the expiration of such 150-day period, in which event this Lease shall terminate as of the date of such notice. Notwithstanding the foregoing, Landlord shall forthwith repair the same, subject to the provisions of this Section hereinafter set forth and provided such repairs can be made notify Tenant within ninety (90) days under applicable state, federal and city and county laws and regulations. This Lease following a casualty whether Landlord shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence restore or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety (90) days, either Landlord or Tenant may, upon written notice to the other within ninety (90) days after the date of such fire or other casualty, repair or restore such damage, this Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects rebuild the Premises or Common Areas necessary demolish the Premises. In the event that Landlord elects to Tenant's occupancy) Tenant maydemolish the Premises rather than rebuild it, by written notice to the other given not less than Lease shall terminate sixty (60) days and not more than ninety (90) days after following the date of such fire or other casualty, terminate this Lease as delivery of the date notice of such fire or other casualtyLandlord's election to so demolish the Premises.
Appears in 1 contract
Samples: Office Lease (Regan Holding Corp)
Damage and Destruction. Section 15.01 If (a) If, during the Term, the Premises or other improvements located thereon or therein are damaged by fireor destroyed, earthquakewhether partially or entirely, act of God or the elementsfrom any insured casualty, Landlord shall forthwith repair shall, within one hundred twenty (120) days after the samediscovery of such damage or destruction, commence to restore the Premises to substantially the same condition as prior to such casualty and, subject to the provisions availability of this Section hereinafter set forth and provided necessary governmental permits to complete such repairs can be made restoration, prosecute same to diligent completion within ninety two hundred seventy (90270) days under applicable stateafter Landlord commences to restore the Premises. Landlord's obligation shall not include repair or replacement of Tenant's equipment, federal and city and county laws and regulationsfurnishings, fixtures, personal property or nonstandard tenant improvements. This Damage to or destruction of any portion of the building, fixtures, or other improvements on the Premises by fire, the elements, or any other cause shall not terminate this Lease shall remain in full force and effector entitle Tenant to surrender the Premises or otherwise affect the respective obligations of the parties, except that if there shall be damage any present or future law to the contrary notwithstanding. If the existing laws do not permit the Premises to be restored to substantially the same condition as they were in immediately before such casualty and Landlord is unable to get a variance to such damage is not laws to permit the result commencement of the negligence or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part restoration of the Premises as shall be rendered unusable within the 120 day period, then either party may terminate this Lease by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made within ninety (90) days, either Landlord or Tenant may, upon giving written notice to the other party within ninety thirty (9030) days after the date expiration of such fire or other casualty120 day period, repair or restore such damage, in which event this Lease continuing in full force and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to the other given not less than sixty (60) days and not more than ninety (90) days after the date of such fire or other casualty, shall terminate this Lease as of the date of such fire notice. Notwithstanding the foregoing, in the event that Landlord decides under this Section 19(a) or other casualtyunder Section 19(b) within one hundred twenty (120) days following the discovery of such damage or destruction, to demolish the Premises rather than rebuild it, Landlord may notify Tenant in writing within such 120-day period of such election, in which event the Lease will terminate as of the date of such notice to Tenant. In the event Landlord fails to complete restoration of the Premises as provided in Sections 19(a) or 19(b) within the 270 day period specified, Tenant may terminate this Lease by giving written notice to the Landlord within thirty (30) days after the expiration of such 270 day period, in which event this Lease shall terminate as of the date of such notice.
Appears in 1 contract
Damage and Destruction. Section 15.01 If the Premises are or the Building is damaged by fire, earthquake, act of God fire or the elementsother casualty, Landlord shall forthwith promptly repair such damage to the sameextent of the insurance proceeds (after deduction of Landlord's costs of adjustment and collection) available for restoration of the Premises or the Building, as the case may be, subject to the provisions of this Section hereinafter set forth and provided 22, if, in Landlord's judgment, such repairs can be made within ninety one hundred twenty (90120) days under applicable statedays. During the making of such repairs by Landlord, federal and city and county laws and regulations. This this Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence any act, neglect, default or willful misconduct omission of Tenant or Tenant's , its agents, employees or invitees, a proportionate reduction in Rent Tenant shall be allowed Tenant entitled to a reduction of Rent while such repair is being made in the for proportion that the Premises Rentable Area rendered untenantable by such part damage bears to the total Premises Rentable Area. In the event (i) the uninsured portion of any damage to or destruction of the Premises as shall Building equals or exceeds ten percent (10%) of the replacement cost of the Building; or (ii) the Term will expire within one (1) year from the date of any material damage to or destruction of the Premises; or (iii) the damage cannot, in Landlord's reasonable opinion, be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable. If such repairs cannot be made repaired within ninety one hundred twenty (90120) days, Landlord shall have the option either Landlord or Tenant may, upon written notice (a) to the other within ninety (90) days after the date of such fire or other casualty, repair or restore such damage, this Lease continuing in full force and effect but with the Rent to be proportionately reduced upon the conditions and as hereinabove provided. If Landlord elects not provided above, or (b) at any time within thirty (30) days after the occurrence of such damage, to make give notice to Tenant terminating this Lease as of a date specified in such repairs notice, which candate shall not be made within ninety less than thirty (9030) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to the other given not less 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 not more than ninety (90) days after all interest of Tenant in the Premises shall terminate on the date specified in such notice, and the Rent, proportionately reduced as provided above, shall be paid up to the date of such fire termination, with Landlord refunding to Tenant any Rent previously paid for any period of time subsequent to such date. If Landlord elects or is required to repair the 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 fixtures, equipment, furniture or any other casualtyproperty of Tenant in the Premises. Tenant shall not be entitled to any compensation or damages from Landlord for damage to any of Tenant's fixtures, terminate this Lease as personal property or equipment, for loss of use of all or any part of the date Premises, for any damage to Tenant's business or profits, or for any disturbance to Tenant caused by any casualty or the restoration of the Premises following such fire or other casualty. 23.
Appears in 1 contract
Samples: Lease (CTC Communications Group Inc)
Damage and Destruction. Section 15.01 If the Premises are or any part thereof shall be damaged by firefire or other casualty, earthquake, act of God or the elements, Tenant shall give immediate notice thereof to Landlord shall forthwith repair the same, subject to the provisions of and this Section hereinafter set forth and provided such repairs can be made within ninety (90) days under applicable state, federal and city and county laws and regulations. This Lease shall remain continue in full force and effecteffect except as hereinafter set forth. If the Premises or any part thereof or any portion of the Building are partially damaged or rendered partially unusable by fire or other casualty, except that if there such damages shall be damage repaired by and at the expense of Landlord and this Lease shall not terminate, and the Base Rent, until such repair shall be completed, shall be apportioned from the day following the casualty according to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part which is so unusable. If such said repairs canare not completed within one hundred eighty (180) days from the date of said damage or if said repairs have not commenced within thirty (30) days from the date of said damage, or Landlord is not proceeding diligently after commencing with said repairs, then this Lease shall be made within ninety (90) days, either immediately terminable at the option of the Tenant. Landlord or shall give Tenant may, upon written notice to the other within ninety ten (9010) days after the date of such any casualty as to whether said repairs can be completed within one hundred eighty (180) days; if said repairs cannot be completed within one hundred eighty (180) days or if Landlord fails to give proper notice within ten (10) days, then Tenant shall have the right, at Tenant's option, to terminate this Lease anytime after receipt of Landlord's notice or said ten (10) day period. If the Premises are totally destroyed by fire or other casualty, repair or restore such damage, then the Base Rent and all other charges due from Tenant pursuant to this Lease continuing in full force shall be paid up to the time of the casualty and effect but the Rent to be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) daysat either party's option this Lease shall terminate, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to is given the other given not less than sixty (60) party within 30 days and not more than ninety (90) days after the date of such fire or other casualty, terminate this Lease as of the date of such fire or other casualtydestruction.
Appears in 1 contract
Damage and Destruction. Section 15.01 If the Premises are Building is damaged by fire, earthquake, act of God or the elements, Landlord shall forthwith repair the same, subject to the provisions of this Section hereinafter set forth and provided destroyed in whole or in part such repairs can be made within ninety (90) days under applicable state, federal and city and county laws and regulations. This Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees or invitees, a proportionate reduction in Rent shall be allowed Tenant in ability to use the for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part Building is so unusable. If such repairs cannot be made within ninety (90) dayssubstantially impaired, either Landlord or Tenant may, may terminate this Lease upon written and by delivery of notice of such termination by Landlord or Tenant to the other within ninety (90) days after party, all Rent shall xxxxx effective on the date of such fire damage or other casualtydestruction, and Landlord and Tenant shall be entitled to receive the insurance proceeds from their respective insurance policies. In the event such damage or destruction does not substantially impair Tenant's ability to use the Building as aforesaid (i) if the damage or destruction can be repaired with insurance proceeds not less than one hundred eighty (180) days prior to the expiration of the then - current Term, then Landlord shall repair or restore such damage, this Lease continuing in full force and effect but the Rent to otherwise payable by Tenant shall be proportionately reduced as hereinabove provided. If Landlord elects not to make such repairs which cannot be made within ninety (90) days, then either Landlord or (provided the damage affects the Premises or Common Areas necessary to Tenant's occupancy) Tenant may, by written notice to the other given not less than sixty (60) days and not more than ninety (90) days after the date of such fire or other casualty, terminate this Lease effective as of the date of such fire damage, equitably based on the reduction in usability of the Building to Tenant until such time as the repair is completed, whereupon the full Rent provided for in this Lease shall be payable; and (ii) if the damage or destruction cannot be repaired with insurance proceeds not less than one hundred eighty (180) days prior to the expiration of the then-current Term, either Landlord or Tenant may terminate this Lease, which termination shall be effective on the date specified in a notice of termination delivered by Landlord or Tenant to the other casualtyparty, which termination date shall not be less than fifteen (15) days nor more than thirty (30) days following the date of such delivery. In such event (i) Rent otherwise payable by Tenant shall be equitably reduced effective as of the date of such damage, based on the reduction in usability of the Building to Tenant until the termination date, and (ii) Landlord and Tenant shall be entitled to receive the insurance proceeds from their respective insurance policies.
Appears in 1 contract
Samples: Lease (Impax Laboratories Inc)