Common use of Damage by Fire or Other Casualty Clause in Contracts

Damage by Fire or Other Casualty. Subject to the following sentences and to the last sentences of this Article, if, through no act, fault or negligence of Tenant or any of Tenant’s Agents, the Premises shall be partially damaged by fire or other casualty, the damage shall be repaired by Landlord within ninety (90) days, and the rent, until such repairs are made, shall be apportioned according to the portion of the Premises which are still usable. If the Premises and/or any portion of the Industrial Center shall be partially or totally damaged by fire or other casualty and such damage is caused, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage shall be repaired by Tenant, subject to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Lease Agreement (Proguard Acquisition Corp)

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Damage by Fire or Other Casualty. Subject If fire or other casualty shall render the whole or any material portion of the Premises untenantable, and the Premises can reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and the Office Complex to as near their condition prior to the following sentences fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will be doing so, such notice to be mailed within thirty (30) days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). If Lessor is required to repair the Office Complex and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then either party, by notice in writing to the last sentences other mailed within thirty (30) days from the date of such damage or destruction, may terminate this Article, if, through no act, fault or negligence Lease effective upon a date within thirty (30) days from the date of Tenant or any such notice. In the event that more than fifty percent (50%) of Tenant’s Agents, the value of the specific office structure of which the Premises shall be partially is a part is damaged or destroyed by fire or other casualty, and irrespective of If fire or other casualty shall render any material portion of the Premises or any material portion of the Office Complex untenantable and the insurance proceeds are not sufficient to make repairs, then Lessor may, by notice to Lessee, mailed within thirty (30) days from the date of such damages or destruction, terminate this Lease effective upon a date within thirty (30) days from the date of such notice. However, Lessee may within fifteen (15) days from Lessor's notice of termination elect to fund the repair cost shortfall and upon making such funds available to lessor or an independent escrowee within fifteen (15) days of Lessee's election notice, Lessor's termination election shall be rescinded, and Lessor shall proceed to repair or restore the Premises and the Office Complex. If the Premises or the Office Complex is damaged, and such damage is of the type insured against under the fire and special form property damage insurance maintained by Lessor hereunder, the cost of repairing said damage up to the amount of the deductible under said insurance policy shall be included as a part of the Operating Expenses. If the damage is not covered by such insurance policies and Lessor elects to repair the damage, then Lessee shall pay Lessor a pro rata share of the "deductible amount" (if any) under Lessor's insurance policies based on Lessee's percentage interest of the Premises and, if the damage was due to an act or omission of Lessee, Lessee shall pay Lessor the difference between the actual cost of repair and any insurance proceeds received by Lessor. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event and neither party hereto terminates this Lease pursuant to its rights herein or in the event that more than fifty percent (50%) of the value of the Office Complex is damaged or destroyed by fire or other casualty, and Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that fifty percent (50%) or less of the value of the Office Complex is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, then Lessor shall repair and restore the Premises and the Office Complex to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are untenantable shall be repaired by Landlord within ninety abated pro rata (90) days, and the rent, until such repairs are made, shall be apportioned according to based upon the portion of the Premises which are still usableis untenantable). If In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee. Anything herein contained to the Premises and/or contrary notwithstanding, Lessor shall not be obligated to spend more than the net insurance proceeds received by Lessor on account of any portion of the Industrial Center shall be partially or totally damaged by fire or other casualty and in order to repair or restore the Premises or the Office Complex following such damage casualty; provided, however, Lessor shall notify Lessee promptly after the casualty if Lessor is causedunwilling to expend more than the net insurance proceeds. In the event of a termination of this Lease pursuant to this Article XI, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage rent shall be repaired by Tenant, subject apportioned on a per diem basis and paid to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Office Lease Scottsdale Northsight (Jda Software Group Inc)

Damage by Fire or Other Casualty. Subject If fire or other casualty shall render the whole or any material portion of the Premises untenantable, and the Premises can reasonably be expected to be repairable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and EastPark One to as near their condition prior to the following sentences fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will be doing so, such notice to be mailed within thirty (30) days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent for the period during which the Premises are untenantable shall be abated pro rata. If Lessor is required to repair EastPark One and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be repairable within one hundred twenty (120) days from the date of such event, then either party, by notice in writing to the last sentences other mailed within thirty (30) days from the date of such damage or destruction, may terminate this Article, if, through no act, fault Lease effective upon a date within thirty (30) days from the date of such notice. In the event that more than fifty percent (50%) of the value of EastPark One is damaged or negligence of Tenant or any of Tenant’s Agents, the Premises shall be partially damaged destroyed by fire or other casualty, the and irrespective of whether damage shall or destruction can be repaired within one hundred twenty (120) days thereafter, then at Lessor's option, by Landlord written notice to Lessee, mailed within forty-five (45) days from the date of such damage or destruction, Lessor may terminate this Lease effective upon a date within ninety (90) days, and days from the rent, until date of such repairs are made, notice to Lessee. If fire or other casualty shall be apportioned according to render the portion whole or any material part of the Premises which are still usable. If untenantable and the Premises and/or any portion cannot reasonably be expected to be repairable within one hundred twenty (120) days from the date of such event and neither party hereto terminates this Lease pursuant to its rights herein or in the event that more than fifty percent (50%) or the value of EastPark One is damaged or destroyed by fire or other casualty, and Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that fifty percent (50%) or less of the Industrial Center shall be partially value of EastPark One is damaged or totally damaged destroyed by fire or other casualty and such damage is caused, directly or indirectly, by neither the act, fault or negligence of Tenant or whole nor any of Tenant’s Agents, the damage shall be repaired by Tenant, subject to the terms hereof, and the rent shall not xxxxx as to any material portion of the Premises and/or is rendered untenantable, then Lessor shall repair and restore the Lease. If Premises and EastPark One to as near their condition prior to the damage fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are untenantable shall be so extensive as abated pro rata. In no event shall Lessor be obligated to render repair or restore any special equipment or improvements installed by Lessee at Lessee's expense. In the Premises wholly untenantableevent of a termination of this Lease pursuant to this Article, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from apportioned on a per diem basis and paid to the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Gross Lease Agreement (Integrated Information Systems Inc)

Damage by Fire or Other Casualty. Subject If fire or other casualty shall render the whole or any material portion of the Premises untenantable, and the Premises can reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and the Complex to as near their condition prior to the following sentences fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for Force Majeure) and notify Lessee that it will be doing so, such notice to be mailed within thirty (30) days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). If Lessor is required to repair the Complex and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. For purposes of this Lease, "Force Majeure" shall be deemed to mean delay caused by act or neglect of Lessee or those acting for or under Lessee, or by labor disputes, casualties, acts of God or the public enemy, governmental embargo restrictions, shortages of fuel, labor or building materials, action or nonaction of public utilities, or of local, state or federal governments affecting the Tenant Improvements (such as a delay in the issuance of a building permit or other governmental approval), or other causes beyond Lessor's reasonable control. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then either party, by notice in writing to the last sentences other mailed within thirty (30) days from the date of such damage or destruction, may terminate this Article, if, through no act, fault Lease effective upon a date within thirty (30) days from the date of such notice. In the event that more than sixty percent (60%) of the value of the Complex is damaged or negligence of Tenant or any of Tenant’s Agents, the Premises shall be partially damaged destroyed by fire or other casualty, and in the event a material portion of the building of which the Premises is a part is damaged or destroyed by such fire or other casualty, and irrespective of whether damage shall or destruction can be repaired made tenantable within one hundred twenty (120) days thereafter, then at Lessor's option, by Landlord written notice to Lessee, mailed within forty-five (45) days from the date of such damage or destruction, Lessor may terminate this Lease effective upon a date within ninety (90) daysdays from the date of such notice to Lessee. If fire or other casualty shall render any portion of the Premises or any material portion of the building of which the Premises is a part untenantable and the insurance proceeds are not sufficient to make repairs, then Lessor may, by notice to Lessee, mailed within thirty (30) days from the date of such damages or destruction, terminate this Lease effective upon a date within thirty (30) days from the date of such notice. If the Premises or the Complex is damaged, and such damage is of the renttype insured against under the fire and special form property damage insurance maintained by Lessor hereunder, until such repairs are made, the cost of repairing said damage up to the amount of the deductible under said insurance policy shall be apportioned according included as a part of the Operating Expenses. If the damage is not covered by such insurance policies and Lessor elects to repair the damage, then Lessee shall pay Lessor a pro rata share of the "deductible amount" (if any) under Lessor's insurance policies based on Lessee's percentage interest of the Premises and, if the damage was due to an act or omission of Lessee, Lessee shall pay Lessor the difference between the actual cost of repair and any insurance proceeds received by Lessor. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event and neither party hereto terminates this Lease pursuant to its rights herein or in the event that more than sixty percent (60%) of the value of the Complex is damaged or destroyed by fire or other casualty, and Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that sixty percent (60%) or less of the value of the Complex is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, then Lessor shall repair and restore the Premises and the Complex to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which are still usableis untenantable). If In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee. Anything herein contained to the Premises and/or contrary notwithstanding, Lessor shall not be obligated to spend more than the net insurance proceeds available to Lessor on account of any portion of the Industrial Center shall be partially or totally damaged by fire or other casualty and in order to repair or restore the Premises or the Complex following such damage casualty; provided, however, Lessor shall notify Lessee promptly after the casualty if Lessor is causedunwilling to expend more than available net insurance proceeds. In the event of a termination of this Lease pursuant to this Article, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage rent shall be repaired by Tenant, subject apportioned on a per diem basis and paid to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Lease (Papa Johns International Inc)

Damage by Fire or Other Casualty. Subject If fire or other casualty shall render the whole or any material portion of the Premises untenantable, and the Premises can reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and the Complex to as near their condition prior to the following sentences fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will be doing so, such notice to be mailed within thirty (30) days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). If Lessor is required to repair the Complex and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then either party, by notice in writing to the last sentences other mailed within thirty (30) days from the date of such damage or destruction, may terminate this Article, if, through no act, fault Lease effective upon a date within thirty (30) days from the date of such notice. In the event that more than fifty percent (50%) of the value of the Complex is damaged or negligence of Tenant or any of Tenant’s Agents, the Premises shall be partially damaged destroyed by fire or other casualty, and irrespective of whether damage or destruction can be made tenantable within one hundred twenty (120) days thereafter, then at Lessor's option, by written notice to Lessee, mailed within forty-five (45) days from the date of such damage shall be repaired by Landlord or destruction, Lessor may terminate this Lease effective upon a date within ninety (90) daysdays from the date of such notice to Lessee. If fire or other casualty shall render any portion of the Premises or any material portion of the Complex untenantable and the insurance proceeds are not sufficient to make repairs, then Lessor may, by notice to Lessee, mailed within thirty (30) days from the date of such damages or destruction, terminate this Lease effective upon a date within thirty (30) days from the date of such notice. If the Premises or the Complex is damaged, and such damage is of the renttype insured against under the fire and special form property damage insurance maintained by Lessor hereunder, until such repairs are made, the cost of repairing said damage up to the amount of the deductible under said insurance policy shall be apportioned according included as a part of the Operating Expenses. If the damage is not covered by such insurance policies and Lessor elects to repair the damage, then Lessee shall pay Lessor a pro rata share of the "deductible amount" (if any) under Lessor's insurance policies based on Lessee's percentage interest of the Premises and, if the damage was due to an act or omission of Lessee, Lessee shall pay Lessor the difference between the actual cost of repair and any insurance proceeds received by Lessor. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event and neither party hereto terminates this Lease pursuant to its rights herein or in the event that more than fifty percent (50%) of the value of the Complex is damaged or destroyed by fire or other casualty, and Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that fifty percent (50%) or less of the value of the Complex is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, then Lessor shall repair and restore the Premises and the Complex to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which are still usableis untenantable). If In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee. Anything herein contained to the Premises and/or contrary notwithstanding, Lessor shall not be obligated to spend more than the net insurance proceeds available to Lessor on account of any portion of the Industrial Center shall be partially or totally damaged by fire or other casualty and in order to repair or restore the Premises or the Complex following such damage casualty; provided, however, Lessor shall notify Lessee promptly after the casualty if Lessor is causedunwilling to expend more than available net insurance proceeds. In the event of a termination of this Lease pursuant to this Article, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage rent shall be repaired by Tenant, subject apportioned on a per diem basis and paid to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Lease (Vanstar Corp)

Damage by Fire or Other Casualty. Subject If fire or other casualty shall render the whole or any material portion of the Premises untenantable, and the Premises can reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and the Office Complex to as near their condition prior to the following sentences fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will be doing so, such notice to be mailed within thirty (30) days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). If Lessor is required to repair the Office Complex and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then either party, by notice in writing to the last sentences other mailed within thirty (30) days from the date of such damage or destruction, may terminate this Article, if, through no act, fault or negligence Lease effective upon a date within thirty (30) days from the date of Tenant or any such notice. In the event that more than fifty percent (50%) of Tenant’s Agents, the value of the specific office structure of which the Premises shall be partially is a part is damaged or destroyed by fire or other casualty, and irrespective of whether damage or destruction can be made tenantable within one hundred twenty (120) days thereafter, then at Lessor's option, by written notice to Lessee, mailed within forty-five (45) days from the date of such damage shall be repaired by Landlord or destruction, Lessor may terminate this Lease effective upon a date within ninety (90) daysdays from the date of such notice to Lessee. Further, if the foregoing damage or destruction results in a materially adverse effect on Lessee's use and enjoyment of the Premises, the Lessee shall have the same right to terminate as is provided to Lessor (and within the same time periods) in the foregoing sentence. If fire or other casualty shall render any material portion of the Premises or any material portion of the Office Complex untenantable and the insurance proceeds are not sufficient to make repairs, then Lessor may, by notice to Lessee, mailed within thirty (30) days from the date of such damages or destruction, terminate this Lease effective upon a date within thirty (30) days from the date of such notice. However, Lessee may within fifteen (15) days from Lessor's notice of termination elect to fund the repair cost shortfall and upon making such funds available to lessor or an independent escrowee within fifteen (15) days of Lessee's election notice, Lessor's termination election shall be rescinded, and Lessor shall proceed to repair or restore the rentPremises and the Office Complex. If the Premises or the Office Complex is damaged, until and such repairs are madedamage is of the type insured against under the fire and special form property damage insurance maintained by Lessor hereunder, the cost of repairing said damage up to the amount of the deductible under said insurance policy shall be apportioned according included as a part of the Operating Expenses. If the damage is not covered by such insurance policies and Lessor elects to repair the damage, then Lessee shall pay Lessor a pro rata share of the "deductible amount" (if any) under Lessor's insurance policies based on Lessee's percentage interest of the Premises and, if the damage was due to an act or omission of Lessee, Lessee shall pay Lessor the difference between the actual cost of repair and any insurance proceeds received by Lessor. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event and neither party hereto terminates this Lease pursuant to its rights herein or in the event that more than fifty percent (50%) of the value of the Office Complex is damaged or destroyed by fire or other casualty, and Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that fifty percent (50%) or less of the value of the Office Complex is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, then Lessor shall repair and restore the Premises and the Office Complex to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which are still usableis untenantable). If In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee. Anything herein contained to the Premises and/or contrary notwithstanding, Lessor shall not be obligated to spend more than the net insurance proceeds received by Lessor on account of any portion of the Industrial Center shall be partially or totally damaged by fire or other casualty and in order to repair or restore the Premises or the Office Complex following such damage casualty; provided, however, Lessor shall notify Lessee promptly after the casualty if Lessor is causedunwilling to expend more than the net insurance proceeds. In the event of a termination of this Lease pursuant to this Article XI, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage rent shall be repaired by Tenant, subject apportioned on a per diem basis and paid to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Office Lease (Jda Software Group Inc)

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Damage by Fire or Other Casualty. Subject If fire or other casualty shall render the whole or any material portion of the Premises untenantable, and the Premises can reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and the Office/Warehouse Complex to as near their condition prior to the following sentences fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will be doing so, such notice to be mailed within thirty (30) days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent (Base Rent and Additional Rent) for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). If Lessor is required to repair the Office/Warehouse Complex and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then either party, by notice in writing to the last sentences other mailed within thirty (30) days from the date of such damage or destruction, may terminate this Article, if, through no act, fault Lease effective upon a date within thirty (30) days from the date of such notice. In the event that more than fifty percent(50%) of the value of the Office/Warehouse Complex is damaged or negligence of Tenant or any of Tenant’s Agents, the Premises shall be partially damaged destroyed by fire or other casualty, and irrespective of whether the Office/Warehouse Complex or Premises can be made tenantable within one hundred twenty (120) days thereafter, then at Lessor's option, by written notice to Lessee, mailed within forty-five (45) days from the date of such damage shall be repaired by Landlord or destruction, Lessor may terminate this Lease effective upon a date within ninety (90) daysdays from the date of such notice to Lessee. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event and neither party hereto terminates this Lease pursuant to its rights herein or in the event that more than fifty percent (50%) of the value of the Office/Warehouse Complex is damaged or destroyed by fire or other casualty, and Lessor does not terminate this Lease pursuant to its option granted herein, or in the rentevent that fifty percent (50%) or less of the value of the Office/Warehouse Complex is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, until such repairs then Lessor shall repair and restore the Premises and the Office/Warehouse Complex to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are made, untenantable shall be apportioned according to abated pro rata (based upon the portion of the Premises which are still usableis untenantable). If In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee at Lessee's expense; provided, however, this sentence shall not apply to any improvements listed in Exhibit D. In the Premises and/or any portion event of the Industrial Center a termination of this Lease pursuant to this Article, rent shall be partially or totally damaged by fire or other casualty apportioned on a per diem basis and such damage is caused, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage shall be repaired by Tenant, subject paid to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Fargo Electronics Inc

Damage by Fire or Other Casualty. Subject If fire or other casualty shall render the whole or any material portion of the Premises untenantable, and the Premises can reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and the Office Complex to as near their condition prior to the following sentences fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will be doing so, such notice to be mailed within thirty (30) days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent for the period during which the Premises or a material portion thereof are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). If Lessor is required to repair the Office Complex and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then either party, by notice in writing to the last sentences other mailed within thirty (30) days from the date of such damage or destruction, may terminate this Article, if, through no act, fault or negligence Lease effective upon a date within thirty (30) days from the date of Tenant or any such notice. In the event that more than fifty percent (50%) of Tenant’s Agents, the value of the specific office structure of which the Premises shall be partially is a part or fifty percent (50%) of the square footage of the Premises is damaged or destroyed by fire or other casualty, and irrespective of whether damage or destruction can be made tenantable within one hundred twenty (120) days thereafter, then at either party's option, by written notice to the other party, mailed within forty-five (45) days from the date of such damage shall be repaired by Landlord or destruction, such party may terminate this Lease effective upon a date within ninety (90) daysdays from the date of such notice to the other party. 37 If fire or other casualty shall render any portion of the Premises or any material portion of the Office Complex untenantable and the insurance proceeds are not sufficient to make repairs, then Lessor may, by notice to Lessee, mailed within thirty (30) days from the date of such damages or destruction, terminate this Lease effective upon a date within thirty (30) days from the date of such notice. If the Premises or the Office Complex is damaged, and such damage is of the renttype insured against under the fire and special form property damage insurance maintained by Lessor hereunder, until such repairs are made, the cost of repairing said damage up to the amount of the deductible under said insurance policy shall be apportioned according included as a part of the Operating Expenses. If the damage is not covered by such insurance policies and Lessor elects to repair the damage, then Lessee shall pay Lessor a pro rata share of the "deductible amount" (if any) under Lessor's insurance policies based on Lessee's percentage interest of the Office Complex and, if the damage was due to an act or omission of Lessee, Lessee shall pay Lessor the difference between the actual cost of repair and any insurance proceeds received by Lessor. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event and neither party -38- hereto terminates this Lease pursuant to its rights herein or in the event that more than fifty percent (50%) of the value of the Office Complex is damaged or destroyed by fire or other casualty, and Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that fifty percent (50%) or less of the value of the Office Complex is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, then Lessor shall repair and restore the Premises and the Office Complex to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which are still usableis untenantable). If In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee. Anything herein contained to the Premises and/or contrary notwithstanding, Lessor shall not be obligated to spend more than the net insurance proceeds received by Lessor on account of any portion of the Industrial Center shall be partially or totally damaged by fire or other casualty in order to repair or restore the Premises or the Office Complex following such casualty; provided, however, Lessor shall notify Lessee promptly after the casualty if such proceeds are insufficient and such damage if Lessor is causedunwilling to expend more than the net insurance proceeds. In the event of a termination of this Lease pursuant to this Article XI, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage rent shall be repaired by Tenant, subject apportioned on a per diem basis and paid to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Purchase Agreement and Escrow Instructions (Udc Homes Inc)

Damage by Fire or Other Casualty. Subject Lessor shall not be liable for any damage or injury to the following sentences Premises or to Lessee arising from any act of gross negligence on the part of the Lessee, or for any other damage or injury to Lessee or property occasioned from or by any cause whatsoever, except damage or injury due to the grossly negligent or willful act or Lessor, its employees, agents or invitees. Lessee covenants and agrees with Lessor to assume full responsibility and liability for any injuries or damages sustained by any person or persons on the Premises during the term of this Lease or any extensions thereof, and to save Lessor harmless therefrom, unless such injuries or damages are due to the last sentences grossly negligent or willful act of this ArticleLessor, ifits employees, through no act, fault agents or negligence of Tenant or any of Tenant’s Agents, invitees. In the event the Premises shall be partially damaged or the Building of which the Premises are a part is destroyed or injured by fire fire, earthquake or other casualtycasualty to the extent that either is untenable in whole or in part, then Lessor may, at its option, proceed with reasonable diligence to rebuild and restore the damage Premises or such part thereof as may be damaged, provided that within thirty (30) days after such destruction or injury, Lessor shall be repaired by Landlord within ninety notify Lessee in writing of its intentions to do so, and provided further that Lessor can complete such rebuilding and restoration in one hundred twenty (90120) days, and during the rentperiod of such rebuilding and restoration, until such repairs are madethe rent hereunder shall be abated. If Lessor shall fail to notify Lessee, as aforesaid, then this Lease, at the expiration at the time for giving said notice as provided for herein, shall be apportioned according to the portion terminated as of the Premises which are still usable. If the Premises and/or any portion time of the Industrial Center shall be partially injury or totally damaged by fire or other casualty and such damage is caused, directly or indirectly, by the act, fault or negligence of Tenant or any of Tenant’s Agents, the damage shall be repaired by Tenant, subject to the terms hereof, and the rent shall not xxxxx as to any portion of the Premises and/or the Lease. If the damage shall be so extensive as to render the Premises wholly untenantable, the rent shall cease until such time as the Premises shall become tenantable, unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event the rent shall not xxxxx or cease. However, if the damage is so extensive that the Premises cannot be made tenantable within eight (8) months from the date of the fire or other casualty, as reasonably determined by Landlord within sixty (60) days of the date of casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord and Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. In any event, Landlord shall not be liable to the Tenant by reason of fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition prior to such casualty and to otherwise make the Leased Premises suitable for Tenant’s usedestruction.

Appears in 1 contract

Samples: Agreement (Rodi Power Systems Inc)

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