DAMAGE BY FIRE OR OTHER CAUSE. 15.1. If the Building or any portion thereof (exclusive of the Premises) is damaged or destroyed by any casualty to the extent that, in Landlord's reasonable judgment, (a) repair of such damage or destruction would not be economically feasible, or (b) the damage or destruction to the Building cannot be repaired within two hundred seventy (270) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from insurance remaining after any required payment to any mortgagee or lessor of Landlord are insufficient to repair such damage or destruction, Landlord shall have the right, at Landlord's option, to terminate this Lease (provided Landlord terminates the leases, where Landlord has the right to do so, of all of the other tenants of the Building similarly affected) by giving Tenant notice of such termination, within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction. 15.2. If the Premises or any portion thereof is damaged or destroyed by any casualty, and if, in Landlord's reasonable opinion, the Premises cannot be rebuilt or made fit for Tenant's purposes within two hundred seventy (270) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the insurance Landlord is required to maintain pursuant to Article 14 hereof (or the amount of proceeds which would have been available if Landlord was carrying such insurance) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice, within sixty (60) days after Landlord learns of the necessity for repairs as a result of such damage or destruction. 15.3. In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 or 15.2, but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15, this Lease shall not terminate and Rent shall be abated in proportion to the area of the Premises which cannot be used or occupied by Tenant as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.6) or to Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs as a result of such damage or destruction, for a reason other than force majeure or Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, in which case Tenant's termination notice shall be of no effect. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor shall any termination by Tenant occur if damage to or destruction of the Premises is the result of the negligence or willful act of Tenant, or Tenant's agents, employees, representatives, contractors, successors, assigns, licensees or invitees. 15.4. If any material portion of the Premises is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen (15) days after the date of such destruction. 15.5. Landlord shall have no liability to Tenant for inconvenience, loss of business, or annoyance arising from any repair of any portion of the Premises or the Building. Tenant hereby waives California Civil Code Sections 1932(2) and 1933(4), providing for termination of hiring upon destruction of the thing hired and Sections 1941 and 1942, providing for repairs to and of the Premises. 15.6. In the event of termination of this Lease pursuant to Sections 15.1, 15.2, 15.3 or 15.4, all Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall immediately vacate the Premises according to such notice of termination; provided, however, that those provisions of this Lease which are designated to cover matters of termination and the period thereafter shall survive the termination hereof. 15.7. In the event of any damage or destruction of all or any part of the Premises, Tenant shall: (a) immediately notify Landlord thereof, and (b) within thirty (30) days of such damage or destruction, deliver to Landlord all insurance proceeds received by Tenant with respect to the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements and Tenant's alterations and improvements, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such items, less any insurance proceeds actually received by Landlord from Landlord's or Tenant's insurance with respect to such items.
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DAMAGE BY FIRE OR OTHER CAUSE. 15.1. If Section 15.1 Except as otherwise expressly provided in this Article 15, if the Building (or any portion thereof (exclusive of thereof), or the Premises) , is damaged or destroyed by any casualty during the Term, Landlord shall diligently repair or restore the Building or the Premises, as the case may be, as soon as reasonably possible to substantially the extent thatcondition in which the Building or the Premises, in Landlord's reasonable judgmentas the case may be, (a) repair of existed immediately prior to such damage or destruction would destruction.
Section 15.2 If continuation of Tenant's business from the Premises (or a portion thereof) is not be economically feasiblepractical pending reconstruction of the Building (or portion thereof), or (b) the Premises, as the case may be, Rent due and payable hereunder shall equitably xxxxx for the portion of the Premises which is unusable by Tenant for the period commencing with the date of such casualty until the earlier of the date that reconstruction is substantially completed or that Tenant resumes the conduct of its business from such portion of the Premises.
Section 15.3 If there is damage or destruction to the Building (whether or not such damage affects the Premises) or to the Premises, to the extent that Landlord reasonably determines that the Building or the Premises, as the case may be, cannot be fully repaired or restored by Landlord within two one-hundred seventy eighty (270180) days after from the date Landlord learns of the necessity for repairs as a result casualty, said determination to be delivered to Tenant in writing within sixty (60) days of such damage or destruction, or if the proceeds from insurance remaining after any required payment to any mortgagee or lessor of Landlord are insufficient to repair such damage or destructioncasualty, Landlord and (solely in the event that the Premises is damaged or destroyed) Tenant shall have the rightoption, at upon written notice delivered to the other party within fifteen (15) days of Landlord's optionwritten notice, to terminate this Lease. If Landlord determines that the Building or the Premises, as the case may be, can be fully repaired or restored within such one-hundred eighty (180) day period, or if it is determined that such repair or restoration cannot be made within such period, but neither party elects to terminate this Lease within the aforementioned fifteen (provided 15) days, this Lease shall remain in full force and effect and Landlord terminates shall diligently repair and restore the leasesdamage or destruction as soon as reasonably possible.
Section 15.4 Notwithstanding anything contained herein to the contrary, where Landlord has in the right to do so, event the damage or destruction of all of the other tenants a material portion of the Building similarly affected) or the Premises, as the case may be, is not fully covered by giving Tenant notice of such terminationthe insurance proceeds received by Landlord, or if there are insufficient proceeds after any required payments to mortgagees or lessors, Landlord may, within sixty (60) days after of such casualty, terminate this Lease by written notice to Tenant, effective as of the date Landlord learns of the necessity for repairs as a result of such damage or destructioncasualty. If Landlord does not elect to terminate this Lease, this Lease shall remain in full force and effect and the Building shall be diligently repaired and restored in accordance with Section 15.1 hereof.
15.2. Section 15.5 If the Building or the Premises or any portion thereof is damaged or destroyed by any casualty, and if, in Landlord's reasonable opinion, the Premises cannot be rebuilt or made fit for Tenant's purposes within two hundred seventy (270) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the insurance Landlord is required to maintain pursuant to Article 14 hereof (or the amount of proceeds which would have been available if Landlord was carrying such insurance) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice, within sixty (60) days after Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.3. In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 or 15.2, but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15, this Lease shall not terminate and Rent shall be abated in proportion to the area of the Premises which cannot be used or occupied by Tenant as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.6) or to Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs as a result of such damage or destruction, for a reason other than force majeure or Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, in which case Tenant's termination notice shall be of no effect. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor shall any termination by Tenant occur if damage to or destruction of the Premises is the result of the negligence or willful act of Tenant, or Tenant's agents, employees, representatives, contractors, successors, assigns, licensees or invitees.
15.4. If any material portion of the Premises is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen sixty (1560) days after the date of such destruction.
15.5. Section 15.6 Landlord shall have no liability to Tenant for inconvenience, loss of business, or annoyance arising from any repair of any portion of the Premises or the BuildingProject. If the Premises are damaged by any casualty, Tenant hereby waives California Civil Code Sections 1932(2shall pay to Landlord that amount of Tenant's insurance proceeds (or the amount which would have been received by Tenant if Tenant was carrying the insurance required by this Lease) and 1933(4), providing for termination of hiring upon destruction of the thing hired and Sections 1941 and 1942, providing for repairs to and of the Premiseswhich insures such damage.
15.6. Section 15.7 In the event of termination of this Lease pursuant to Sections 15.1Article 15, 15.2, 15.3 or 15.4, then all Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall immediately vacate the Premises according to such notice of termination; provided, however, that those provisions of this Lease which are designated to cover matters of termination and the period thereafter shall survive the termination hereof.
15.7. In the event of any damage or destruction of all or any part of the Premises, Tenant shall: (a) immediately notify Landlord thereof, and (b) within thirty (30) days of such damage or destruction, deliver to Landlord all insurance proceeds received by Tenant with respect to the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements and Tenant's alterations and improvements, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such items, less any insurance proceeds actually received by Landlord from Landlord's or Tenant's insurance with respect to such items.
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Samples: Assignment of Lease (Advanced Life Sciences Holdings, Inc.)
DAMAGE BY FIRE OR OTHER CAUSE. 15.1. Section 15.1 If the Building or any a portion thereof (exclusive of the Premises) is damaged or destroyed by any casualty to the extent that, in Landlord's ’s reasonable judgment, (a) repair of such damage or destruction would not be economically feasible, or (b) the damage or destruction to the Building cannot be repaired within two three hundred seventy sixty (270360) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from insurance remaining after any required payment to any mortgagee or lessor of Landlord are insufficient to repair such damage or destruction, Landlord shall have the right, at Landlord's ’s option, to terminate this Lease (provided Landlord terminates the leases, where Landlord has the right to do so, of all of the other tenants of the Building similarly affected) by giving Tenant notice of such termination, within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.2. Section 15.2 If the Premises or any portion thereof is damaged or destroyed by any casualtycasualty against which Tenant is required to be insured under Section 14.1, and if, in Landlord's ’s reasonable opinion, the Premises cannot be rebuilt or made fit for Tenant's ’s purposes within two one hundred seventy eighty days (270180) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the insurance Landlord Tenant is required to maintain pursuant to Article 14 hereof (or the amount of proceeds which would have been available if Landlord Tenant was carrying such insurance) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice, within sixty (60) days after Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.3. Section 15.3 In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 or 15.215.2 or which is subject to Section 15.1 or 15.2 but the applicable party (or parties) does not elect to terminate the Lease, but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15untenantable, this Lease shall not terminate and Rent shall be abated in proportion to the area of the Premises which which, in Landlord’s reasonable opinion, cannot be used or occupied by Tenant as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.6) 25.6 or to Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If , provided that Tenant pays to Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs Tenant’s insurance proceeds as a result of such damage or destruction, for a reason other than force majeure or Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, required in which case Tenant's termination notice shall be of no effectSection 15.5. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor axxxx or shall any termination by Tenant occur if damage to or destruction of the Premises is the result of the negligence or willful act of Tenant, or Tenant's ’s agents, employees, representatives, contractors, successors, assigns, licensees or invitees.
15.4. Section 15.4 If the Building or the Premises or any material portion of the Premises thereof is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, Term then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen sixty (1560) days after the date of such destruction.
15.5. Section 15.5 Landlord shall have no liability to Tenant for inconvenience, loss of business, or annoyance arising from any repair of any portion of the Premises Promises or the Building. If Landlord is required by this Lease or by any mortgagee or lessor of Landlord to repair or if Landlord undertakes to repair, Tenant hereby waives California Civil Code Sections 1932(2shall pay to Landlord that amount of Tenant’s insurance proceeds (or the amount which would have been received by Tenant if Tenant was carrying the insurance required by this Lease) which insures such damage as a contribution towards such repair, and 1933(4), providing for termination of hiring upon destruction of the thing hired Landlord shall use reasonable efforts to have such repairs made promptly and Sections 1941 and 1942, providing for repairs to and of the Premisesin a manner which will not unnecessarily interfere with Tenants occupancy.
15.6. Section 15.6 In the event of termination of this Lease pursuant to Sections 15.1, 15.2, 15.3 or 15.4, then all Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall immediately vacate the Premises according to such notice of termination; provided, however, that those provisions of this Lease which are designated to cover matters of termination and the period thereafter shall survive the termination hereof.
15.7. In the event of any damage or destruction of all or any part of the Premises, Tenant shall: (a) immediately notify Landlord thereof, and (b) within thirty (30) days of such damage or destruction, deliver to Landlord all insurance proceeds received by Tenant with respect to the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements and Tenant's alterations and improvements, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such items, less any insurance proceeds actually received by Landlord from Landlord's or Tenant's insurance with respect to such items.
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DAMAGE BY FIRE OR OTHER CAUSE. 15.1Section 16.01. Subject to Sections 16.02 and 16.03 hereof, if the Building is damaged by fire or other casualty so as to affect the Premises, Tenant shall immediately notify Landlord, who shall (but only if the proceeds from Landlord's insurance available to Landlord
(i) are free from collection by Landlord's mortgagee, ground or primary lessor, and
(ii) are sufficient) have the damage repaired with reasonable speed at the expense of Landlord, subject to delays which may arise by reason of adjustment of loss under insurance policies and to other delays beyond Landlord's reasonable control. Provided such damage was not the result of the negligence or willful misconduct of Exhibit 10.74 Tenant, or Tenant's employees or invitees, an abatement in the Rental hereunder shall be allowed as to that portion of the Premises rendered untenantable by such damage until such time as Landlord determines that such damaged portion of the Premises has been made tenantable for Tenant's use.
Section 16.02. If the Building or any portion thereof (exclusive of the Premises) is Premises are damaged or destroyed by any casualty to the extent that, in Landlord's reasonable judgment, (a) repair of such damage or destruction would not be economically feasible, or (b) the damage or destruction to the Building cannot be repaired within two hundred seventy (270) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from insurance remaining after any required payment to any mortgagee or lessor of Landlord are insufficient to repair such damage or destruction, Landlord shall have the right, at Landlord's option, to terminate this Lease (provided Landlord terminates the leases, where Landlord has the right to do so, of all of the other tenants of the Building similarly affected) by giving Tenant notice of such termination, within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.2. If the Premises or any portion thereof is damaged or destroyed by any casualtycause whatsoever, and if, in the Landlord's reasonable opinion, opinion the Premises cannot be rebuilt or made fit for Tenant's purposes within two hundred seventy (270) 120 days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the insurance Landlord is required remaining after payment of any such proceeds to maintain pursuant to Article 14 hereof (Landlord's mortgagee, ground, or the amount of proceeds which would have been available if Landlord was carrying such insurance) primary lessor, are insufficient to repair such or restore the damage or by destruction, then either Landlord or Tenant shall have the rightmay, at the option of either partyits option, to terminate this Lease by giving the other written noticeTenant, within sixty (60) 60 days after Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.3. In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 or 15.2, but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15, this Lease shall not terminate and Rent shall be abated in proportion to the area of the Premises which cannot be used or occupied by Tenant as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.6) or to Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs as a result of such damage or destruction, notice of termination, and thereupon Rental and any other payments for a reason other than force majeure or which Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate is liable under this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, in which case Tenant's termination notice shall be of no effect. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor shall any termination by Tenant occur if damage to or destruction of the Premises is the result of the negligence or willful act of Tenant, or Tenant's agents, employees, representatives, contractors, successors, assigns, licensees or invitees.
15.4. If any material portion of the Premises is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen (15) days after the date of such destruction.
15.5. Landlord shall have no liability to Tenant for inconvenience, loss of business, or annoyance arising from any repair of any portion of the Premises or the Building. Tenant hereby waives California Civil Code Sections 1932(2) and 1933(4), providing for termination of hiring upon destruction of the thing hired and Sections 1941 and 1942, providing for repairs to and of the Premises.
15.6. In the event of termination of this Lease pursuant to Sections 15.1, 15.2, 15.3 or 15.4, all Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall immediately vacate the Premises according to such notice of termination; Premises, provided, however, that those provisions of this Lease which are designated to cover matters of termination and the period thereafter shall survive the termination hereof.
15.7Section 16.03. In the event of any damage or destruction of all or any part of the Premises, Tenant shall: If either
(a) immediately notify Landlord thereofthe Building is damaged or destroyed to the extent that, and (b) within thirty (30) days of in Landlord's reasonable opinion it would not be economically feasible to repair or restore such damage or destruction, deliver to Landlord all insurance proceeds received by Tenant with respect to or
(b) in Landlord's reasonable judgment, the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements and Tenant's alterations and improvements, and upon any damage or destruction theretoto the Building cannot be repaired or restored within 60 days after such damage or destruction, Landlord may, at its option, terminate this Lease by giving Tenant, within 60 days after such damage, notice of such termination requiring Tenant to vacate the Premises 60 days after delivery of the notice of termination, and thereupon Rental and any other payments shall be apportioned and paid to the date on which possession is relinquished and Tenant shall immediately pay vacate the Premises according to Landlord such notice of termination, provided, however, that those provisions of this Lease which are designed to cover matters of termination and the full replacement cost of such items, less any insurance proceeds actually received period thereafter shall survive the termination hereof.
Section 16.04. No damages shall be payable by Landlord for inconvenience, loss of business, or annoyance arising from Landlord's any repair or restoration of any portion of the Premises, or the Building. Landlord shall use its best efforts to have such repairs made promptly so as not to unnecessarily interfere with Tenant's insurance with respect to such itemsoccupancy.
Section 16.05. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Building, the Building Standard Leasehold Improvements, the Non-Building Standard Leasehold Improvements, the alterations, or the Premises by fire or other casualty.
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DAMAGE BY FIRE OR OTHER CAUSE. 15.115.01. If the Building or any material portion thereof (exclusive of the Premises) is damaged or destroyed by any casualty to the extent that, in Landlord's ’s reasonable judgment, (a) repair of such damage or destruction would not be economically feasiblefeasible (provided, Landlord shall not make such determination based solely on the amount of Base Rent payable by Tenant), or (b) the damage or destruction to the Building cannot be repaired within two three hundred seventy sixty (270360) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from Landlord’s insurance remaining after any required payment to any mortgagee or lessor of Landlord are insufficient to repair such damage or destruction, Landlord shall have the right, at Landlord's ’s option, to terminate this Lease (provided Landlord terminates the leases, where Landlord has the right to do so, of all of the other tenants of the Building similarly affected) by giving Tenant notice of such termination, within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.215.02. If the Premises or any portion thereof is damaged or destroyed by any casualty, and if, in Landlord's ’s reasonable opinion, the Premises cannot be rebuilt or made fit for Tenant's ’s purposes within two one hundred seventy eighty days (270180) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the Landlord’s insurance remaining after any required payment to any mortgagee or lessor of Landlord is required to maintain pursuant to Article 14 hereof (or the amount of proceeds which would have been available if Landlord was carrying such insurance) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice, within sixty (60) days after Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.315.03. In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 15.01 or 15.215.02, but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15untenantable, this Lease shall not terminate and Rent shall be abated as of the date of the partial destruction or damage in proportion to the area of the Premises which which, in Landlord’s reasonable opinion, cannot be used or occupied by Tenant as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.625.06) or to Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs as a result of such damage or destruction, for a reason other than force majeure or Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, in which case Tenant's termination notice shall be of no effect. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor or shall any termination by Tenant occur if damage to or destruction of the Premises is the result of the negligence or willful act misconduct of Tenant, or Tenant's ’s agents, employees, representatives, contractors, successors, assigns, licensees or invitees.
15.415.04. If any material portion of the Building or the Premises or any portion thereof is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen sixty (1560) days after the date of such destruction.
15.515.05. Landlord shall have no liability to Tenant for inconvenience, loss of business, or annoyance arising from any repair of any portion of the Premises or the Building. Tenant hereby waives California Civil Code Sections 1932(2) If Landlord is required by this Lease or by any mortgagee or lessor of Landlord to repair, or if Landlord undertakes to repair, Landlord shall use reasonable efforts to have such repairs made promptly and 1933(4), providing for termination of hiring upon destruction of the thing hired and Sections 1941 and 1942, providing for repairs to and of the Premisesin a manner which will not unnecessarily interfere with Tenant’s occupancy.
15.615.06. In the event of termination of this Lease pursuant to Sections 15.115.01, 15.215.02, 15.3 or 15.415.04, then all Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall immediately vacate the Premises according to such notice of termination; provided, however, that those provisions of this Lease which are designated to cover matters of termination and the period thereafter shall survive the termination hereof.
15.715.07. In the event of any damage or destruction of all or any part of the Premisesdescribed in Section 15.03 above, Tenant shall: (a) immediately notify Landlord thereofshall use commercially reasonable efforts to offer to temporarily relocate Tenant, and (b) within thirty (30) days of until such damage or destructiondestruction has been repaired, deliver to Landlord all insurance proceeds received by Tenant with respect to the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted comparable space in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements and Tenant's alterations and improvements, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such items, less any insurance proceeds actually received other nearby buildings owned by Landlord from on terms and conditions mutually satisfactory to Tenant and Landlord's or Tenant's insurance with respect to such items.
Appears in 1 contract
Samples: Lease Agreement (Sigmatel Inc)
DAMAGE BY FIRE OR OTHER CAUSE. 15.1. If 14.1 Except as otherwise expressly provided in this Article 14, if the Building (or any portion thereof (exclusive of the Premisesthereof) is damaged or destroyed by any casualty during the Term, Landlord shall diligently repair or restore the Building (exclusive of the Premises Improvements, Tenant’s Property and Alterations) as soon as reasonably possible to substantially the extent that, condition in Landlord's reasonable judgment, (a) repair of which the Building existed immediately prior to such damage or destruction would not be economically feasible, or (b) the damage or destruction to the Building cannot be repaired within two hundred seventy (270) days after the date Landlord learns exclusive of the necessity for repairs Premises Improvements, Tenant’s Property and Alterations). Except as a result of such damage or destructionotherwise expressly provided in this Article 14, or if the proceeds from insurance remaining after Premises (or any required payment portion thereof) is damaged or destroyed during the Term, Tenant shall diligently repair or restore, in accordance with the provisions governing Alterations as set forth in Section 9, the Premises Improvements, the Tenant’s Property and the Alterations in the Premises as soon as reasonably possible to any mortgagee or lessor of Landlord are insufficient substantially the condition in which such items existed immediately prior to repair such damage or destruction, Landlord shall have the right, at Landlord's option, to terminate this Lease (provided Landlord terminates the leases, where Landlord has the right to do so, of all of the other tenants of the Building similarly affected) by giving Tenant notice of such termination, within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.2. If the Premises or any portion thereof is damaged or destroyed by any casualty14.2 Except as provided in this Section 14.2, and if, in Landlord's reasonable opinion, the Premises cannot be rebuilt or made fit for Tenant's purposes within two hundred seventy (270) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the insurance Landlord is required to maintain pursuant to Article 14 hereof (or the amount of proceeds which would have been available if Landlord was carrying such insurance) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice, within sixty (60) days after Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.3. In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 or 15.2, but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15, this Lease shall not terminate and Rent shall be abated in proportion to the area of the Premises which cannot be used or occupied by Tenant as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.6) or to Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs as a result of such damage or destruction, for a reason other than force majeure or Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, in which case Tenant's termination notice shall be of no effect. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor shall any termination by Tenant occur if damage to or destruction of the Premises is the result of the negligence or willful act of Tenant, or Tenant's agents, employees, representatives, contractors, successors, assigns, licensees or invitees.
15.4. If any material portion of the Premises is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen (15) days after the date of such destruction.
15.5. Landlord shall have no liability to Tenant for inconvenience, loss of business, business or annoyance arising from any repair casualty or any restoration. If the Premises is not tenantable pending reconstruction as provided in Section 14.1, and in fact is not occupied by Tenant, Rent due and payable hereunder shall equitably xxxxx commencing with the date of any portion such casualty until the earlier of the Premises or the Building. Tenant hereby waives California Civil Code Sections 1932(2date (i) and 1933(4), providing for termination of hiring upon destruction that reconstruction of the thing hired and Sections 1941 and 1942, providing for repairs Building is substantially completed by Landlord to and the extent required to be completed by Landlord as provided in Section 14.2 or (ii) that Tenant resumes the conduct of its business from such portion of the Premises.
15.614.3 If there is damage or destruction to the Building (whether or not such damage affects the Premises), to the extent that Landlord reasonably determines that the Building (exclusive of the Premises Improvements, Tenant’s Property and Alterations) cannot be fully repaired or restored within (i) one hundred eighty (180) days from the date of the casualty and occurs at any time during the Term or (ii) three (3) months from the Casualty Date (the “Casualty Date”) and occurs during the last Lease Year of the Term, then, Landlord shall have the option, upon written notice delivered to Tenant within fifteen (15) days of Tenant’s receipt of Landlord’s written notice of the length of such restoration, together with an analysis of an architect substantiating the time required for any restoration (such notice to be provided within sixty (60) days of such Casualty Date), to terminate this Lease. If the restoration to the Premises is prohibited by any Requirements or the insurance proceeds are insufficient or otherwise not available, then Landlord may elect to terminate this Lease upon giving written notice of such election to Tenant within sixty (60) days after the Casualty Date.
14.4 Notwithstanding the foregoing, if the Premises shall be substantially destroyed by fire or other casualty and if in the reasonable opinion of Tenant it would not be economically feasible to rebuild or restore the Premises and Tenant elects not to rebuild or restore the Premises, then Tenant may elect by notice to Tenant within sixty (60) days after the Casualty Date to terminate this Lease as of the Casualty Date and if such notice shall be given this Lease and the Term and estate hereby granted shall terminate as of the Casualty Date with the same force and effect as if the Casualty Date were the Expiration Date of the Term of this Lease and Tenant shall pay the Rent thereunder justly apportioned to the Casualty Date.
14.5 Supplementing the provisions of this Article 14, in the event the Premises are not substantially repaired by Landlord (to the extent Landlord is so obligated to repair the same as provided in Article 14 hereof) within nine (9) months of the date that Tenant notifies Landlord of the casualty, Tenant shall have the option to terminate the Lease. In order to effectively exercise the aforesaid option, Tenant shall so notify Landlord in writing not later than thirty (30) days after the expiration of the aforesaid nine (9) month period, specifying therein the termination date of this Lease. In the event Tenant exercised the aforesaid option of Tenant, this Lease shall terminate and expire as of the date specified in such notice as if such date was the date originally set forth as the expiration date of this Lease.
14.6 In the event of termination of this Lease pursuant to Sections 15.1this Article 14, 15.2, 15.3 or 15.4, then (1) all Rent shall be apportioned and paid to the earlier of the date on which possession is relinquished or the date of such damage, whichever last occursCasualty Date, and (2) Tenant shall immediately vacate the Premises according as required herein and (3) If neither Landlord nor Tenant timely elects to such notice of termination; providedterminate this Lease, however, that those provisions of this Lease which are designated to cover matters of termination shall remain in full force and effect and the period thereafter shall survive the termination hereof.
15.7. In the event of any damage or destruction of all or any part of the Premises, Tenant shall: (a) immediately notify Landlord thereof, Building and (b) within thirty (30) days of such damage or destruction, deliver to Landlord all insurance proceeds received by Tenant with respect to the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements diligently repaired and Tenant's alterations and improvements, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such items, less any insurance proceeds actually received by Landlord from Landlord's or Tenant's insurance restored in accordance with respect to such itemsSection 14.4.
Appears in 1 contract
DAMAGE BY FIRE OR OTHER CAUSE. 15.1Section 15.01. If the Building or any portion thereof (exclusive of the Premises) is damaged or destroyed by any casualty to the extent that, in Landlord's reasonable judgment, (a) repair of such damage or destruction would not be economically feasible, or (b) the damage or destruction to the Building cannot be repaired within two one hundred seventy eighty (270180) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from insurance remaining after any required payment to any mortgagee or lessor of Landlord are insufficient to repair such damage or destruction, Landlord shall have the right, at Landlord's option, to terminate this Lease (provided Landlord terminates the leases, where Landlord has the right to do so, of all of the other tenants of the Building similarly affected) by giving Tenant notice of such termination, within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.2Section 15.02. If the Premises or any portion thereof is damaged or destroyed by any casualtycasualty against which Tenant is required to be insured under Section 14.01, and if, in Landlord's reasonable opinion, the Premises cannot be rebuilt or made fit for Tenant's purposes within two one hundred seventy eighty days (270180) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the insurance Landlord Tenant is required to maintain pursuant to Article 14 hereof (or including the amount of proceeds which would have been available if Landlord Tenant was carrying such insurance) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice, within sixty (60) days after Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.3Section 15.03. In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 15.01 or 15.2, 15.02 but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15untenantable, this Lease shall not terminate and Rent shall be abated in proportion to the area of the Premises which which, in Landlord's reasonable opinion, cannot be used or occupied by Tenant for the conduct of Tenant's business as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.625.06) or to Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If , provided that Tenant pays to Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs as a result of such damage or destruction, for a reason other than force majeure or Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, insurance proceeds as required in which case Tenant's termination notice shall be of no effectSection 15.05. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor abatx xx shall any termination by Tenant occur if damage to or destruction of the Premises is the result of the negligence or willful act of Tenant, or Tenant's agents, employees, representatives, contractors, successors, assigns, licensees or invitees.
15.4Section 15.04. If any material portion of the Building or the Premises or any portion thereof is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen sixty (1560) days after the date of such destruction.
15.5Section 15.05. Landlord shall have no liability to Tenant for inconvenience, loss of business, or annoyance arising from any repair of any portion of the Premises or the Building. If Landlord is required by this Lease or by any mortgagee or lessor of Landlord to repair or if Landlord undertakes to repair, Tenant hereby waives California Civil Code Sections 1932(2shall pay to Landlord that amount of Tenant's insurance proceeds (or the amount which would have been received by Tenant if Tenant was carrying the insurance required by this Lease) which insures such damage as a contribution towards such repair, and 1933(4), providing for termination of hiring upon destruction of the thing hired Landlord shall use reasonable efforts to have such repairs made promptly and Sections 1941 and 1942, providing for repairs to and of the Premisesin a manner which will not unnecessarily interfere with Tenant's occupancy.
15.6Section 15.06. In the event of termination of this Lease pursuant to Sections 15.1Section 15.01, 15.215.02, 15.3 or 15.415.04, then all Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall immediately vacate the Premises according to such notice of termination; provided, however, that those provisions of this Lease which are designated to cover matters of termination and the period thereafter shall survive the termination hereof.
15.7. In the event of any damage or destruction of all or any part of the Premises, Tenant shall: (a) immediately notify Landlord thereof, and (b) within thirty (30) days of such damage or destruction, deliver to Landlord all insurance proceeds received by Tenant with respect to the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements and Tenant's alterations and improvements, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such items, less any insurance proceeds actually received by Landlord from Landlord's or Tenant's insurance with respect to such items.
Appears in 1 contract
Samples: Office Lease Agreement (Management Network Group Inc)
DAMAGE BY FIRE OR OTHER CAUSE. 15.1. SECTION 15.1 If the Building or any portion thereof (exclusive of the Premises) is damaged or destroyed by any casualty to the extent that, in Landlord's reasonable judgment, (a) repair of such damage or destruction would not be economically feasible, or (b) the damage or destruction to the Building cannot be repaired within two three hundred seventy sixty (270360) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from insurance remaining after any required payment to any mortgagee or lessor of Landlord are insufficient to repair such damage or destruction, then both Landlord and Tenant shall have the right, at Landlord's option, right to terminate this Lease (provided Landlord terminates the leases, where Landlord has the right to do so, of all of the other tenants of the Building similarly affected) by giving Tenant written notice of such termination, termination to the other within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.2. SECTION 15.2 If the Premises or any portion thereof is damaged or destroyed by any casualtycasualty against which Tenant is required to be insured under Section 14.1, and if, in Landlord's reasonable opinion, the Premises cannot be rebuilt or made fit for Tenant's purposes within two one hundred seventy eighty days (270180) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the insurance Landlord Tenant is required to maintain pursuant to Article 14 hereof (or the amount of proceeds which would have been available if Landlord Tenant was carrying such insurance) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice, within sixty (60) days after Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.3. SECTION 15.3 In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 or 15.215.2 or which is subject to Section 15.1 or 15.2 but the applicable party (or parties) does not elect to terminate the Lease, but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15untenantable, this Lease shall not terminate and Rent Rent, including Tenant's Operating Costs Payment, shall be abated in proportion to the area of the Premises which which, in Landlord's reasonable opinion, cannot be used or occupied by Tenant as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.6) or to Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If , provided that Tenant pays to Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs as a result of such damage or destruction, for a reason other than force majeure or Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, insurance proceeds as required in which case Tenant's termination notice shall be of no effectSection 15.5. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor abate or shall any termination by Tenant occur if damage to or destruction of the xx xxe Premises is the result of the negligence or willful act of Tenant, or Tenant's agents, employees, representatives, contractors, successors, assigns, licensees or invitees.
15.4. SECTION 15.4 If the Building or the Premises or any material portion of the Premises thereof is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen sixty (1560) days after the date of such destruction.
15.5. SECTION 15.5 Landlord shall have no liability to Tenant for inconvenience, loss of business, or annoyance arising from any repair of any portion of the Premises or the Building. If Landlord is required by this Lease or by any mortgagee or lessor of Landlord to repair or if Landlord undertakes to repair, Tenant hereby waives California Civil Code Sections 1932(2shall pay to Landlord that amount of Tenant's insurance proceeds (or the amount which would have been received by Tenant if Tenant was carrying the insurance required by this Lease) which insures such damage as a contribution towards such repair, and 1933(4), providing for termination of hiring upon destruction of the thing hired Landlord shall use reasonable efforts to have such repairs made promptly and Sections 1941 and 1942, providing for repairs to and of the Premisesin a manner which will not unnecessarily interfere with Tenant's occupancy.
15.6. SECTION 15.6 In the event of termination of this Lease pursuant to Sections 15.1, 15.2, 15.3 or 15.4, then all Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall immediately vacate the Premises according to such notice of termination; provided, however, that those provisions of this Lease which are designated to cover matters of termination and the period thereafter shall survive the termination hereof.
15.7. In the event of any damage or destruction of all or any part of the Premises, Tenant shall: (a) immediately notify Landlord thereof, and (b) within thirty (30) days of such damage or destruction, deliver to Landlord all insurance proceeds received by Tenant with respect to the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements and Tenant's alterations and improvements, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such items, less any insurance proceeds actually received by Landlord from Landlord's or Tenant's insurance with respect to such items.
Appears in 1 contract
Samples: Lease Agreement (Carecentric Inc)
DAMAGE BY FIRE OR OTHER CAUSE. 15.1. 15.01 If the Building or any portion thereof (exclusive of the Premises) is damaged or destroyed by any casualty to the extent that, in Landlord's reasonable judgment, (a) repair of such damage or destruction would not be economically feasible, or (b) the damage or destruction to the Building cannot be repaired within two three hundred seventy sixty (270360) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from Landlord's insurance remaining after any required payment to any mortgagee or lessor of Landlord are insufficient to repair such damage or destruction, Landlord shall have the right, at Landlord's option, to terminate this Lease (provided Landlord terminates the leases, where Landlord has the right to do so, of all of the other tenants of the Building similarly affected) by giving Tenant notice of such termination, within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.2. 15.02 If the Premises or any portion thereof is damaged or destroyed by any casualty, and if, in Landlord's reasonable opinion, the Premises cannot be rebuilt or made fit for Tenant's purposes within two one hundred seventy eighty days (270180) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction, or if the proceeds from the Landlord's insurance remaining after any required payment to any mortgagee or lessor of Landlord is required to maintain pursuant to Article 14 hereof (or the amount of proceeds which would have been available if Landlord was carrying such insurance) are insufficient to repair such damage or destruction, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving the other written notice, within sixty (60) days after Landlord learns of the necessity for repairs as a result of such damage or destruction.
15.3. 15.03 In the event of partial destruction or damage to the Building or the Premises which is not subject to Section 15.1 15.01 or 15.215.02, but which renders the Premises partially but not wholly untenantable or renders the Premises wholly untenantable for a short enough period of time that this Lease is not otherwise terminated in accordance with the terms of this Article 15untenantable, this Lease shall not terminate and Rent shall be abated in proportion to the area of the Premises which which, in Landlord's reasonable opinion, cannot be used or occupied by Tenant as a result of such casualty. Landlord shall in such event, within a reasonable time after the date of such destruction or damage, subject to force majeure (as defined in Section 25.625.06) or to any delay caused by Tenant Delay and to the extent and availability of insurance proceeds, restore the Premises to as near the same condition as existed prior to such partial damage or destruction. If Landlord fails to proceed with reasonable diligence to rebuild the Premises, or if the Premises are not repaired or rebuilt within two hundred seventy (270) days after Landlord learns of the necessity for repairs as a result of such damage or destruction, for a reason other than force majeure or Tenant Delays, then Tenant may, at Tenant's sole option, elect to terminate this Lease upon thirty (30) days written notice to Landlord, unless Landlord cures the failure within such thirty (30) day period of time, in which case Tenant's termination notice shall be of no effect. In no event shall Rent xxxxx (except to the extent Landlord recovers insurance therefor) nor abate or shall any termination by Tenant occur if damage to or destruction of the Premises txx Xxemises is the result of the negligence or willful act misconduct of Tenant, or Tenant's agents, employees, representatives, contractors, successors, assigns, licensees or invitees.
15.4. 15.04 If any material portion of the Building or the Premises or any portion thereof is destroyed by fire or other causes at any time during the last year of the Term, such that the Premises or a material portion thereof cannot be occupied for in excess of thirty (30) days as a result thereof, then either Landlord or Tenant shall have the right, at the option of either party, to terminate this Lease by giving written notice to the other within fifteen sixty (1560) days after the date of such destruction.
15.5. 15.05 Landlord shall have no liability to Tenant for inconvenience, loss of business, or annoyance arising from any repair of any portion of the Premises or the Building. Tenant hereby waives California Civil Code Sections 1932(2) If Landlord is required by this Lease or by any mortgagee or lessor of Landlord to repair, or if Landlord undertakes to repair, Landlord shall use reasonable efforts to have such repairs made promptly and 1933(4), providing for termination of hiring upon destruction of the thing hired and Sections 1941 and 1942, providing for repairs to and of the Premisesin a manner which will not unnecessarily interfere with Tenant's occupancy.
15.6. 15.06 In the event of termination of this Lease pursuant to Sections 15.115.01, 15.215.02, 15.3 or 15.415.04, then all Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall immediately vacate the Premises according to such notice of termination; provided, however, that those provisions of this Lease which are designated to cover matters of termination and the period thereafter shall survive the termination hereof.
15.7. In the event of any damage or destruction of all or any part of the Premises, Tenant shall: (a) immediately notify Landlord thereof, and (b) within thirty (30) days of such damage or destruction, deliver to Landlord all insurance proceeds received by Tenant with respect to the Leasehold Improvements and Tenant's alterations and improvements to the Premises (excluding proceeds for Tenant's furniture and other personal property), whether or not this Lease is terminated as permitted in this Article 15, and Tenant hereby assigns to Landlord all rights to receive such insurance proceeds. If Tenant fails to receive insurance proceeds covering the full replacement cost of such Leasehold Improvements and Tenant's alterations and improvements to the Premises which are damaged, Tenant shall be deemed to have self-insured the replacement cost of such Leasehold Improvements and Tenant's alterations and improvements, and upon any damage or destruction thereto, Tenant shall immediately pay to Landlord the full replacement cost of such items, less any insurance proceeds actually received by Landlord from Landlord's or Tenant's insurance with respect to such items.
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