Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 48 contracts
Samples: Form 10 K/A, Annual Report, Lease Agreement (Arterial Vascular Engineering Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee's option shall be extinguished.
Appears in 37 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (Cii Financial Inc), Standard Industrial/Commercial Single Tenant Lease (Guitar Center Inc), Lease Agreement (I O Magic Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 21 contracts
Samples: Lease Agreement (Idealab), Sublease Agreement (Exodus Communications Inc), Lease Agreement (Omnivision Technologies Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 15 contracts
Samples: Lease Agreement (Gsi Technology Inc), Lease Agreement (Gsi Technology Inc), Lease Agreement (Qad Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 8 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (Silicon Image Inc), Standard Industrial/Commercial Single Tenant Lease (Formfactor Inc), Standard Industrial/Commercial Single Tenant Lease (Formfactor Inc)
Damage Near End of Term. If II at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of o1 such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after alter the date xxxx of occurrence of such damage. Provided, however, if If Lessee at al that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date xxxx which is ten Is Ian (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date xxxx upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full lull force and effect. If II Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 4 contracts
Samples: Lease Agreement (Amexdrug Corp), Lease Agreement (Amexdrug Corp), Lease Agreement (Amexdrug Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's ’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's ’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's ’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 4 contracts
Samples: Lease Agreement (Parametric Sound Corp), Lease Agreement (Overstock Com Inc), Standard Industrial/Commercial Multi Tenant Lease (Interactive Health, Inc.)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day Initials:________ ________ -8- prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 4 contracts
Samples: Sublease Agreement (Artest Corp), Purchase and Sale Agreement (Artest Corp), Purchase and Sale Agreement (Artest Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's ’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's ’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's ’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 3 contracts
Samples: Lease Agreement (Emmaus Holdings, Inc.), Standard Industrial/Commercial Multi Tenant Lease (Emmaus Holdings, Inc.), Standard Industrial/Commercial Multi Tenant Lease (Align Technology Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance assurances thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 3 contracts
Samples: Lease Agreement (Micromem Technologies Inc), Lease Agreement (Micromem Technologies Inc), Lease Agreement (Micromem Technologies Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or for adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 3 contracts
Samples: Assignment and Assumption of Sublease (Marimba Inc), Assignment and Assumption of Sublease (Marimba Inc), Assignment and Assumption of Sublease (Marimba Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails falls to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 3 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Who Vision Systems Inc /Fl), Standard Industrial/Commercial Single Tenant Lease Net (Netcom Systems Inc), Standard Industrial/Commercial Single Tenant Lease Net (Netcom Systems Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage to the Premises for which the cost to repair (other than the repair of Tenant’s Trade Fixtures or Tenant-Owned Alterations and Utility Installations) exceeds one month's three (3) months’ Base Rent, whether or not an Insured Loss, Lessor Landlord may, at Lessor's Landlord’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of Lessor's Landlord’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails Tenant falls to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Lease (Penumbra Inc), Lease Agreement (Penumbra Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails falls to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5.option to the contrary. SEE ADDENDUM #58
Appears in 2 contracts
Samples: Lease Agreement (Meade Instruments Corp), Lease Agreement (Meade Instruments Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option Option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. , If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Lease Agreement (Futon World Inc), Lease Agreement (Futon World Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease Term (or the last 6 months of any Renewal Term) there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, Landlord may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so Tenant within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee Tenant may preserve this Lease by (a) exercising such option, option and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Xxxxxx’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's expense Landlord’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Tenant’s option shall be extinguished.
Appears in 2 contracts
Samples: Lease Agreement (Astra Space, Inc.), Lease Agreement (Astra Space, Inc.)
Damage Near End of Term. If at any time during the last six twelve (612) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor either party may, at Lessor's either party’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's their election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease Modified Net (Ooma Inc), Standard Industrial/Commercial Single Tenant Lease Modified Net (Ooma Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage to the Premises for which the cost to repair (other than the repair of Tenant’s Trade Fixtures or Tenant-Owned Alterations and Utility Installations) exceeds one month's three (3) months’ Base Rent, whether or not an Insured Loss, Lessor Landlord may, at Lessor's Landlord’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of Lessor's Landlord’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Lease (Penumbra Inc), Lease (Penumbra Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresexpire. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Lease Agreement (Starbase Corp), Lease Agreement (Objectshare Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after LesseeXxxxxx's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Lease Agreement (Supergen Inc), Lease Agreement (Mohawk Industries Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this this- Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease (DCH Technology Inc), Standard Industrial/Commercial Multi Tenant Lease (DCH Technology Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, ; or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease (Homestead Com Inc), Lease Agreement (Homestead Com Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease (Intek Information Inc), Lease Agreement (Intek Information Inc)
Damage Near End of Term. If 10.5.1 Except as otherwise indicated below and as set forth in Section 8.2 above, if at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) 30 days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) 10 days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense ’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence termination notice and Lessee’s option shall be extinguished.
10.5.2 Provided, however, that the HVAC units that are installed by Lessee to service its clean room, and the clean room itself, shall not be subject to the foregoing provisions. Instead, Lessee shall have discretion as to whether to expend Lessee’s own funds to repair or replace such items in the event of this Paragraph 9.5damage described in Section 10.5.1 above, and Lessor shall have no responsibility therefor.
Appears in 2 contracts
Samples: Industrial/Commercial Multi Tenant Lease (Genelux Corp), Industrial/Commercial Multi Tenant Lease (Genelux Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's ' expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Lease Agreement (Pets Com Inc), Lease Agreement (Pets Com Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 2 contracts
Samples: Lease Agreement (Future Media Productions), Lease Agreement (Future Media Productions)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor Landlord may, at Lessor's Landlord’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of Lessor's Landlord’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease Modified Net (ADESTO TECHNOLOGIES Corp), Standard Industrial/Commercial Multi Tenant Lease (Opnext Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Lease Agreement (Gametech International Inc), Lease Addendum (Gametech International Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60sixty,(60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Burke Industries Inc /Ca/), Standard Industrial/Commercial Single Tenant Lease Net (Burke Industries Inc /Ca/)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (I) month's Base Monthly Basic Rent, whether or not an Insured Loss, Lessor Landlord may, at LessorLandlord's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of LessorLandlord's election to do so within thirty (30) days after the date of occurrence of such damage. Provided; provided, however, that if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premises, Premises then Lessee Tenant may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period") (i) exercising such option, option and (bii) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee Tenant duly exercises such option during such said Exercise period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at LessorLandlord's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Landlord may at Landlord's Option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Tenant of Landlord's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term of provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Lease Agreement (Infocrossing Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this LeaseLese, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises exercised such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance Insurance proceeds, . Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Lease Agreement (Synbiotics Corp)
Damage Near End of Term. If at any time during the last six (6) 6 months of the term of this Lease lease there is damage for which the cost to repair exceeds one month's Base I Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, Le ssor may terminate this Lease effective sixty (60) 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) 30 days after the date of occurrence of such damage. Provided, howeverNotwithstanding the forego ing, if Lessee lessee at that time has an exercisable option to extend this Lease or to purchase the PremisesPrem ises , then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) } providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of ({i) the date which is ten (10) 10 business days after LesseeLessee 's receipt of Lessorlessor's written notice purporting purportin, to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises exer cis es such option during such period and provides Lessor lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsIn insuran xx xxxxxx ds, Lessor shall, at Lessor's expense commercially reasonabl e expense, repair such damage dam;)ge as soon as reasonably possible and this Lease shall continue sha ll co ntinu e in full force and effect. If Lessee fails falls to exercise exe rcise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth in specified In the first sentence of this Paragraph 9.5termination notice and Lessee's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease Net (QUICKLOGIC Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of or (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Razorfish Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten thirty (1030) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Lease (Universal Access Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's optionopinion, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of the expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six twelve (612) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor either party may, at Lessor's their option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's their election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.. Eight-L 1993 -12- Initials_____/_____
Appears in 1 contract
Samples: Lease Agreement (EGAIN Corp)
Damage Near End of Term. If H at any time anytime during the last six (6) months of the term of this Lease there is Is damage for which the cost to repair exceeds one month's Base Rentrent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing b)providing Lessor with wlth any shortage in insurance proceeds (or adequate assurance thereofassurance/hereof) needed to make the repairs on or before the earlier of (i0) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or for adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Intertrust Technologies Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1 ) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty the (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed limited to make those repairs required to be paid by Lessee pursuant to the repairs on or before the earlier terms of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Industrial Lease (American Craft Brewing International LTD)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or Or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Lease Agreement (Pacific Sunwear of California Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor Lessee may, at Lessor's option, terminate this Lease effective effectively sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Lease Agreement (Canmax Inc /Wy/)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the PremisesPromises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (iiif) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If It Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then than Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Natural Alternatives International Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Purchase Agreement (Industrial Rubber Products Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty five (305) days after the date of occurrence of such damage. Provided; provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) if such damage results from an Uninsured Loss, providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, if such damage results from an Uninsured Loss, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence of this Paragraph 9.5grant to the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Lease (Skechers Usa Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (I) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereofthereof ) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Source Scientific Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term Term of this Lease there is damage Damage for which the cost to of repair exceeds one (1) month's Base ’s worth of Annual Rent, whether or not an Insured Loss, Lessor Landlord or Tenant may, at Lessor's either’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage Damage by giving written notice to Lessee the other of Lessor's that party’s election to do so within thirty (30) days after the date of occurrence of such damageDamage. Provided, however, if Lessee at that time Tenant has an exercisable option to extend this Lease or to purchase the Premisesat that time, then Lessee Tenant may preserve this Lease by by, within twenty (a20) days following the occurrence of the Damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier (“Exercise Period”), (i) exercising such option, option and (bii) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresextent required of Tenant under Section 16.2. If Lessee Tenant duly exercises such option during such period said Exercise Period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsproceeds to the extent required of Tenant under Section 16.2, Lessor shalland subject to the provisions of Sections 16.2 and 16.3 of this Lease, at Lessor's expense Landlord shall commence repair of such damage Damage as soon as reasonably possible practicable, but no later than the Restoration Commencement Date and complete repair of such Damage as soon as practicable but no later than the Restoration Completion Date, and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Landlord may at Landlord’s option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such Damage by giving written notice to Tenant of Landlord’s election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Build to Suit Lease (Intuit Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.59.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Chatcom Inc)
Damage Near End of Term. If at any time during the last six (6) 6 months of the term of this Lease Sublease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, Sublessor or Sublessee may terminate this Lease effective sixty (60) Sublease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so the other Party within thirty (30) 30 days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee Sublessee at that time has an exercisable option to extend this Lease Sublease or to purchase the Premises, then Lessee Sublessee may preserve this Lease by Sublease by, (a) exercising such option, option and (b) providing Lessor Sublessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) 10 days after LesseeXxxxxxxxx's receipt of LessorSublessor's written notice purporting to terminate this LeaseSublease, or (ii) the day prior to the date upon which such option expires. If Lessee Sublessee duly exercises such option during such period and provides Lessor Sublessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Sublessor shall, at LessorSublessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease Sublease shall continue in full force and effecteffect. If Lessee Sublessee fails to exercise such option and provide such funds or assurance during such period, then this Lease Sublease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Sublessee's option(s) shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.59.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after LesseeXxxxxx's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance Insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Lease Renewal (Egghead Inc /Wa/)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth 15 expirations of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expirations of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Gross (Consolidated Capital of North America Inc)
Damage Near End of Term. If at any time during daring the last six twelve (612) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, or Lessee may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so the other party within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee's option shall be extinguished.
Appears in 1 contract
Samples: Single Tenant Lease (Micrel Inc)
Damage Near End of Term. If Subject to the following sentence, if at any time during the last six (6) months year of the term Term of this Lease as extended from time to time there is damage for which the cost to repair exceeds one month's Base Rentsubstantial damage, whether or not an Insured Loss, Lessor maywhich falls within the classification of Partial Damage, Landlord may at Lessor's option, its option cancel and terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so Tenant, within thirty (30) days after the date of occurrence of such damage, of Landlord’s election to terminate. ProvidedNotwithstanding the foregoing, however, if Lessee at in the event that time Tenant has an exercisable option to extend or renew this Lease or to purchase Lease, and the Premisestime within which said option may be exercised has not yet expired, then Lessee may preserve this Lease by (a) exercising Tenant shall exercise such option, and if it is to be exercised at all, no later than thirty (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (1030) days after Lessee's receipt the occurrence of Lessor's written notice purporting to terminate this Lease, or (ii) an Insured Loss falling within the day prior to classification of Partial Damage during the date upon which such option expireslast year of the Term. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds the thirty (or adequate assurance thereof) to cover any shortage in insurance proceeds30)-day period, Lessor Landlord shall, at Lessor's expense Landlord’s expense, repair such damage damage, but not Tenant’s fixtures, equipment or tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that in no event shall Landlord be obligated to spend for such repairs more than the amount of available insurance proceeds, plus the amount of any deductible elected by Landlord. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such the thirty (30)-day period, then Landlord may at Landlord’s option terminate and cancel this Lease shall terminate as of the date set forth in of the first sentence occurrence of this Paragraph 9.5such damage.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may mar preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense shall repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Lease (Ilive Inc/Nv)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease Term there is damage for which the cost to repair exceeds one three (3) month's Base Basic Rent, whether or not an Insured Loss, Lessor Landlord or Tenant may, at Lessorsuch party's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessorthe notifying party's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverPROVIDED, HOWEVER, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premiseswhich has not expired, then Lessee Tenant may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee Tenant duly exercises such option during such period said Exercise Period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at LessorLandlord's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Landlord may at Landlord's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Tenant of Landlord's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is a damage for which the cost to repair exceeds one on month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, or Lessee may terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee the other of Lessor's its election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then the Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Releasenow Com Corp)
Damage Near End of Term. If at any time during the last six twelve (612) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rentdamage, whether or not an Insured Loss, Lessor maywhich falls within the classification of Building Partial Damage or Premises Partial Damage, at Lessor's option, either party may terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to the other party Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee may preserve this Lease by lease by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) 30 days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement
Damage Near End of Term. If at any time during the last twelve (12) months of the initial term of this Lease, or during the last six (6) months of the term of this Lease any option term, there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor or Lessee may, at Lessor's their option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's such election to do so within thirty (30) days after the date of the occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with the required funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Lease Agreement (Modtech Inc)
Damage Near End of Term. If at any time during the last six fifteen (615) months of the term Term of this Lease there is damage for which the cost to repair exceeds one three (3) month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written termination notice to Lessee of Lessor's election to do so within thirty sixty (3060) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time time, has an exercisable option to extend this Lease or to purchase the PremisesExtension Option under Paragraph 52, below, then Lessee may preserve this Lease by by, (a) exercising such option, Extension Option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option Extension Option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense ’s commercially reasonable expense, repair such damage as soon as reasonably possible possible, and this Lease shall continue in full force and effecteffect (i.e., the damages shall be treated as a Premises Partial Damage and the provisions of Paragraph 9.2 or 9.3, above, as applicable, shall apply). If Lessee fails to exercise such option Extension Option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence termination notice and Lessee’s Extension Option shall be null, void and of this Paragraph 9.5no force or effect.
Appears in 1 contract
Samples: Industrial Lease (Solyndra, Inc.)
Damage Near End of Term. If at any time during the last six (6) 6 months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, or Lessee may terminate this Lease (but Lessee's termination rights shall only apply if Lessee did not cause the damage) effective sixty 60 thirty (6030) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) 30 days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, . then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i1) the date which is ten (10) 10 days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, ;Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease Net (Divine Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds [ILLEGIBLE] one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, Rant. whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Chipcards Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) exercising days following the occurrence of the damage, or before the expiration of the time provided in such optionoption for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercise such option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
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Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Packetvideo Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) BUSINESS days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Identix Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, Landlord or Tenant may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other Party of Lessor's its election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, that if Lessee Landlord elects to end the Lease pursuant to this Paragraph 9.5 but Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is a damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, Provided however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Damage Near End of Term. If Subject to the following sentence, if at any time during the last six (6) months year of the term Term of this Lease as extended from time to time there is damage for which the cost to repair exceeds one month's Base Rentsubstantial damage, whether or not an Insured Loss, Lessor maywhich falls within the classification of Partial Damage, either party may at Lessor's option, its option cancel and terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so the other party, within thirty (30) days after the date of occurrence of such damage, of the: first party's election to terminate. ProvidedNotwithstanding the foregoing, however, if Lessee at in the event that time Tenant has an exercisable option to extend or renew this Lease or to purchase Lease, and the Premisestime within which said option may be exercised has not yet expired, then Lessee may preserve this Lease by (a) exercising Tenant shall exercise such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed if it is to make the repairs on or before the earlier of (i) the date which is ten (10) be exercised at all, no later than thirty days after Lessee's receipt the occurrence of Lessor's written notice purporting to terminate this Lease, or (ii) an Insured Loss falling within the day prior to classification of Partial Damage during the date upon which such option expireslast year of the Term. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsthe thirty day period, Lessor Landlord shall, at LessorLandlord's expense expense, repair such damage damage, but not Tenant's fixtures, equipment or tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that if Landlord has maintained the required insurance coverages as set forth in Section 11.3, in no event shall Landlord be obligated to spend for such repairs more than the amount of available insurance proceeds, plus the amount of any deductible elected by Landlord. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such the thirty day period, then Landlord may at Landlord's option terminate and cancel this Lease shall terminate as of the date set forth in of the first sentence occurrence of this Paragraph 9.5such damage.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if it Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or funds:(or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If Subject to the following sentence, if at any time during the last six (6) months year of the term Term of this Lease as extended from time to time there is damage for which the cost to repair exceeds one month's Base Rentsubstantial damage, whether or not an Insured Loss, Lessor maywhich falls within the classification of Partial Damage, either Landlord or Tenant may at Lessor's option, its option cancel and terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee the other party to this Lease of Lessor's such election to do so within thirty (30) days after the date of occurrence of such damage. ProvidedNotwithstanding the foregoing, however, if Lessee at in the event that time Tenant has an exercisable option to extend or renew this Lease or to purchase Lease, and the Premisestime within which said option may be exercised has not yet expired, then Lessee Tenant may preserve this Lease by (a) exercising only exercise such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed if it is to make the repairs on or before the earlier of (i) the date which is ten (10) be exercised at all, no later than thirty days after Lessee's receipt the occurrence of Lessor's written notice purporting to terminate this Lease, or (ii) an Insured Loss falling within the day prior to classification of Partial Damage during the date upon which such option expireslast year of the Term. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsthe thirty day period, Lessor Landlord shall, at Lessor's expense Landlord’s expense, repair such damage damage, but not Tenant’s fixtures, equipment or tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that in no event shall Landlord be obligated to spend for such repairs more than the amount of available insurance proceeds, plus the amount of any deductible elected by Landlord. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such the thirty day period, then Landlord may at Landlord’s option terminate and cancel this Lease shall terminate as of the date set forth in of the first sentence occurrence of this Paragraph 9.5such damage.
Appears in 1 contract
Samples: Standard Industrial Lease (Alphatec Holdings, Inc.)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising Initials _________ _________ such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date case set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. (a) If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rentdamage, whether or not an Insured Loss, Lessor maywhich falls within the classification of the Premises Partial Damage, Landlord may at LessorLandlord's option, option cancel and terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee Tenant of LessorLandlord's election to do so within thirty (30) 30 days after the date of occurrence of such damage. Provided, however, if Lessee at .
(b) Notwithstanding Paragraph 9.5(a) in the event that time Tenant has an exercisable option to extend or renew this Lease or to purchase Lease, and the Premisestime within which said option may be exercised has not yet expired, then Lessee may preserve this Lease by (a) exercising Tenant shall exercise such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed if it is to make the repairs on or before the earlier of (i) the date which is ten (10) be exercised at all, no later than 20 days after Lessee's receipt the occurrence of Lessor's written notice purporting to terminate an Insured Loss falling within the classification of Premises Partial Damage during the last six months of the term of this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedssaid 20 day period, Lessor Landlord shall, at LessorLandlord's expense expense, repair such damage damage, but not Tenant's fixtures, equipment or tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect, provided Tenant first deposits with Landlord any shortfall in necessary funds. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such said 20 day period, then Landlord may at Landlord's option terminate and cancel this Lease shall terminate as of the date set forth expiration of said 20 day period by giving written notice to Tenant of Landlord's election to do so within 10 days after the expiration of said 20 day period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Lease (Brooks Automation Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set sot forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Lease Agreement (Sonicport Com)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) Initials /s/ DEH/PAS providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice ??ce purporting to terminate this Lease, or (ii) the day prior to ???? the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance Insurance proceeds, Lessor shall, at Lessor's expense ’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Lease Amendment (Copart Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an any exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance Insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Vantagemed Corp)
Damage Near End of Term. If at any time during the last six three (63) months years of the term of this Lease Term there is damage for which the cost to repair exceeds one month's 25% of the Base RentRent which is to be paid for the remainder of the Term, whether or not an Insured Lossinsurance proceeds are available to restore the Premises, Lessor Landlord may, at LessorLandlord's option, terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee Tenant of LessorLandlord's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee Tenant may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period said Exercise Period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at LessorLandlord's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Landlord may at Landlord's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Tenant of Landlord's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six twelve (612) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, either Lessee or Lessor may, at Lessor's its option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's its election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Leaselease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.59.
Appears in 1 contract
Samples: Lease Agreement (Mossimo Inc)
Damage Near End of Term. If at any time during the last six (6) months of or the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise whichever is earlier ("Exercise Period"), (i) exercising such option, option and (b) providing ii)providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Lease Agreement (Idealab)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period") (i) exercising such option, and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Vitria Technology Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor' election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Gross (Intellisys Group Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails falls to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial Commercial Multi Tenant Lease (Rockford Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, or Lessee may at Lessor's option, their respective options terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessorthe party's election to do so within thirty (30) days after the date of occurrence of such damage. Provided; provided, however, that if Lessee at that the time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or option before the earlier of (i) the date which is within ten (10) days after of Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such an option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsperiod, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5Paragraph; provided, however, that in the event Lessor fails to repair the damage to the Premises in a timely manner, Lessee shall have the option to use the proceeds of such insurance obtained by Lessor to perform the repairs of the Premises.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then the Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Lease Agreement (Steri Oss Inc)
Damage Near End of Term. If at any time during the last six (6) 6 months of this Lease (determined for this purpose with the assumption that Lessee shall exercise any option to extend the term of this Lease the Lease) there is damage for which the cost to repair exceeds one month's six months Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) 30 days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) thereof needed to make the repairs on or before the earlier of (i) the date which is ten (10) 10 days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense ’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercised Period"), (ii) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Dental Medical Diagnostic Systems Inc)
Damage Near End of Term. If at Notwithstanding any time provisions of Sections 14.2 or 14.3 to the contrary, if damage to or destruction of the Facility occurs during the last twenty-four (24) months of the Term, and if such damage or destruction cannot be fully repaired and restored within six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days immediately following the date of occurrence of such damage loss, either party shall have the right to terminate this Lease by giving written notice to Lessee of Lessor's election to do so the other within thirty (30) days after the date of occurrence damage or destruction, in which event Lessor shall be entitled to retain the insurance proceeds and Lessee shall pay to Lessor on demand the amount of such damage. Providedany deductible or uninsured loss arising in connection therewith; provided, however, that any such notice given by Lessor shall be void and of no force and effect if Lessee at that time has (a) exercises an exercisable available option to extend this Lease the Term for one Extended Term within thirty (30) days following receipt of such termination notice, or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing so long as Lessee is not in default of any kind, and no event has occurred which with the giving of notice or the passage of time, or both, would constitute such a default, under this Lease, the Other Lease and the Tenant Leases, purchases the Leased Property from Lessor with any shortage for a purchase price equal to the Fair Market Value Purchase Price of the Leased Property immediately prior to such damage or destruction. In the event Lessee purchases the Leased Property pursuant to this Section 14.7, the terms set forth in Article XVIII shall apply except that the Fair Market Value Purchase Price shall be reduced by the amount of the insurance proceeds which shall be retained by Lessor, and the sale/purchase must be closed within ninety (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (1090) days after the date of the written notice from Lessee to Lessor of Lessee's receipt of Lessor's written notice purporting intent to terminate this Leasepurchase, or (ii) the day prior to the unless a different closing date is agreed upon which such option expires. If Lessee duly exercises such option during such period in writing by Lessor and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.Lessee
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10910) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Multi Tenant Industrial Lease (American Medical Systems Holdings Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's Lessees written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, . Lessor shall, at Lessor's expense Lessees expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease Gross (Embedded Support Tools Corp)
Damage Near End of Term. If at any time during the last six (6) months of the term Term of this Lease there is a casualty damage or destruction for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's ’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's ’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's ’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Purchase, Sale and Leaseback Agreement (Dividend Capital Total Realty Trust Inc.)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend extent this Lease lease or to purchase the Premisespremises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) ), needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Leaselease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, shall at Lessor's expense repair such damage as soon as reasonably possible and this Lease lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Dynatem Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Interwave Communications International LTD)
Damage Near End of Term. If Subject to the following sentence, if at any time during the last six (6) months year of the term Term of this Lease as extended from time to time there is damage for which the cost to repair exceeds one month's Base Rentsubstantial damage, whether or not an Insured Loss, Lessor maywhich falls within the classification of Partial Damage, either Tenant or Landlord may at Lessor's option, its option cancel and terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so the other party, within thirty (30) days after the date of occurrence of such damage, of its election to terminate. ProvidedNotwithstanding the foregoing, however, if Lessee at in the event that time Tenant has an exercisable option to extend or renew this Lease or to purchase Lease, and the Premisestime within which said option may be exercised has not yet expired, then Lessee may preserve this Lease by (a) exercising Tenant shall exercise such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed if it is to make the repairs on or before the earlier of (i) the date which is ten (10) be exercised at all, no later than thirty days after Lessee's receipt the occurrence of Lessor's written notice purporting to terminate this Lease, or (ii) an Insured Loss falling within the day prior to classification of Partial Damage during the date upon which such option expireslast year of the Term. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsthe thirty day period, Lessor Landlord shall, at LessorLandlord's expense expense, repair such damage damage, but not Tenant's fixtures, equipment or tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that in no event shall Landlord be obligated to spend for such repairs more than the amount of available insurance proceeds, plus the amount of any deductible elected by Landlord. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such the thirty day period, then Landlord may at Landlord's option terminate and cancel this Lease shall terminate as of the date set forth in of the first sentence occurrence of this Paragraph 9.5such damage.
Appears in 1 contract
Samples: Standard Industrial Lease (Redline Performance Products Inc)
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor Landlord may, at LessorLandlord's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of LessorLandlord's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after LesseeTenant's receipt of LessorLandlord's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly --10-- Initials /s/ MB / XXX ------------ exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at LessorLandlord's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i1) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails falls to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date Date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after alter Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease (as extended by Lessee pursuant to any of Lessee's exercised renewal options), there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is either ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.
Appears in 1 contract
Samples: Sublease Agreement (Genoptix Inc)