Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 26 contracts
Samples: Net Lease (Dave Inc./De), Standard Multi Tenant Office Lease Gross (Ventyx Biosciences, Inc.), Standard Industrial/Commercial Single Tenant Lease Net (Glass House Brands Inc.)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 15 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease (Exagen Inc.), Standard Industrial/Commercial Single Tenant Lease Gross, Lease Agreement (Liquidmetal Technologies Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 Lessors 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 4 contracts
Samples: Standard Industrial Commercial Single Tenant Lease Net (Ipl Systems Inc), Standard Industrial Commercial Single Tenant Lease Net (Immune Response Corp), Standard Industrial/Commercial Single Tenant Lease Gross (Laser Pacific Media Corp)
Damage Near End of Term. If at any time anytime during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 4 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease, Asset Purchase Agreement (Item 9 Labs Corp.), Standard Industrial/Commercial Single Tenant Lease
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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 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 10 days after Lessee’s Xxxxxx'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 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 on the date specified in the termination notice and Lessee’s Xxxxxx's option shall be extinguished.
Appears in 4 contracts
Samples: Standard Multi Tenant Office Lease (America Great Health), Standard Multi Tenant Office Lease (America Great Health), Standard Industrial/Commercial Multi Tenant Lease Net
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 3 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease (SMART Modular Technologies (WWH), Inc.), Standard Industrial/Commercial Single Tenant Lease Net (Global Health Trax Inc), Standard Industrial/Commercial Single Tenant Lease Net (Veterinary Centers of America Inc)
Damage Near End of Term. If at any time during the last 6 twelve (12) months of this Lease there is damage for which the cost to repair exceeds one six (6) month’s Base Rent, whether or not an Insured Loss, Lessor Landlord may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee Tenant within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoing, 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 10 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 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 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 on the date specified in the termination notice and LesseeTenant’s option shall be extinguished.
Appears in 3 contracts
Samples: Lease (Globeimmune Inc), Lease (Globeimmune Inc), Lease (Replidyne Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (a) exercising such option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance insurance thereof) needed to make the repairs on or before the earlier of (i) the date which is 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 3 contracts
Samples: Lease Agreement (Cumetrix Data Systems Corp), Lease Agreement (Cumetrix Data Systems Corp), Standard Industrial/Commercial Single Tenant Lease Gross (Cumetrix Data Systems Corp)
Damage Near End of Term. If at any time during the last 6 months of this Lease ease there is damage for which the cost to repair exceeds one month’s 's Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 days after Lessee’s Xxxxxx'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 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 on the date specified in the termination notice and Lessee’s Xxxxxx's option shall be extinguished.
Appears in 3 contracts
Samples: Standard Multi Tenant Office Lease (America Great Health), Standard Multi Tenant Office Lease (America Great Health), Standard Multi Tenant Office Lease (America Great Health)
Damage Near End of Term. If at any time during the last 6 months 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 or Lessee may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee the other within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Lease (SeaSpine Holdings Corp), Lease Agreement (SeaSpine Holdings Corp)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (Nutech Digital Inc), Standard Industrial/Commercial Single Tenant Lease (Immune Response Corp)
Damage Near End of Term. If lf at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (Dolby Laboratories, Inc.), Lease Agreement (Dolby Laboratories, Inc.)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease Net (SMART Global Holdings, Inc.), Sublease (Digirad Corp)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on as of the date specified set forth in the termination notice and Lessee’s option shall be extinguishedfirst sentence of this Paragraph 9.5.
Appears in 2 contracts
Samples: Standard Multi Tenant Office Lease (Eye Dynamics Inc), Standard Multi Tenant Office Lease (Eye Dynamics Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 (iI) the date which is 10 days after Lessee’s 's receipt of Lessor’s 's written notice purporting to terminate this Lease, or (iiII) the day prior to the date upon which such option options expires. If Lessee duly exercises such option during such period and end provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s '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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease (Ironclad Performance Wear Corp), Lease Agreement (Ironclad Performance Wear Corp)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 the period, then this Lease shall terminate on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Lease Agreement (Equinix Inc), Lease Agreement (Equinix Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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, Lessee or Lessor may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (Alphatec Holdings, Inc.), Standard Industrial/Commercial Single Tenant Lease (Alphatec Holdings, Inc.)
Damage Near End of Term. If at any time during the last 6 six (6) months of the term of this Lease there is a damage for which the cost to repair exceeds one (1) month’s 's Base Rent, whether or not an Insured insured Loss, Lessor may may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided 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, 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 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 for adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s commercially reasonable expense, '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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 2 contracts
Samples: Single Tenant Lease (Microage Inc /De/), Single Tenant Lease (Microage Inc /De/)
Damage Near End of Term. If at any time during the last 6 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 insured Loss, Lessor may may, at Lessor's option, terminate this Lease effective 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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, 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 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 commercially reasonable expense, '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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (CCC Globalcom Corp), Standard Industrial/Commercial Single Tenant Lease (Incomnet Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after aGer the date of occurrence of such damage. Notwithstanding 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 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 10 days after aGer 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 commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effecteffect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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 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 10 days after Lessee’s Lxxxxx'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 commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effecteffect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified specified in the termination notice and Lessee’s Lxxxxx's option shall be extinguished.
Appears in 2 contracts
Samples: Lease Agreement (Ceribell, Inc.), Lease Agreement (Ceribell, Inc.)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, : (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 10 ten 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 commercially reasonable 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (Nextest Systems Corp), Standard Industrial/Commercial Single Tenant Lease (Nextest Systems Corp)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. effect If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Standard Multi Tenant Office Lease (Newave Inc), Standard Multi Tenant Office Lease (Newave Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Lease Agreement (Fox Factory Holding Corp), Standard Industrial/Commercial Single Tenant Lease (Fox Factory Holding Corp)
Damage Near End of Term. If at any time during the last 6 months of this Lease there is damage for which the cost to repair exceeds one month’s Base I Rent, whether or not an Insured Loss, Lessor or Lessee may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written | termination notice to the other party Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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 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 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Lease Agreement (Social Capital Suvretta Holdings Corp. I), Standard Industrial/Commercial Multi Tenant Lease Gross (Social Capital Suvretta Holdings Corp. I)
Damage Near End of Term. If at any time during the last 6 six (6) months of this Lease there is damage for which the cost to repair exceeds one the (1) month’s 's Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (a) exercising such option and (b) providing Lessor with any an 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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (Dippy Foods Inc), Standard Industrial/Commercial Single Tenant Lease (Dippy Foods Inc)
Damage Near End of Term. If It at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Lease Agreement (SMTC Corp), Standard Industrial/Commercial Single Tenant Lease Net (SMTC Corp)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date xxxx specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (Sugarmade, Inc.), Standard Industrial/Commercial Single Tenant Lease (Diversified Opportunities, Inc.)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (a) exercising such option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on our or before the earlier of (i) the Xxxxxx date which is 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 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 on the date xxxx specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease Net (AutoGenomics, Inc.), Standard Industrial/Commercial Single Tenant Lease Net (AutoGenomics, Inc.)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Single Tenant Lease (BridgeBio Pharma, Inc.), Standard Multi Tenant Office Lease (Genoptix Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding the foregoing, if Lessee at that the time has an exercisable option to extend this Lease 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 10 days after Lessee’s receipt of Lessor’s written notice purporting to terminate this Lease, 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 2 contracts
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after aGer the date of occurrence of such damage. Notwithstanding 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 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 10 days after aGer 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 commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effecteffect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 2 contracts
Samples: Lease Agreement, Standard Industrial/Commercial Multi Tenant Lease Net
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee Tenant within 30 days after the date of occurrence of such damage. Notwithstanding 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 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 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 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 on the date specified in the termination notice and Lessee’s Tenant's option shall be extinguished.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Lease Net (Fortunet, Inc.), Standard Industrial/Commercial Multi Tenant Lease Net (Fortunet, Inc.)
Damage Near End of Term. If at any time during the last 6 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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 10 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Somera Communications Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 with 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 proceeds, Lessor shall, at Lessor’s '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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Agouron Pharmaceuticals Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Graphon Corp/De)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding the foregoing, . if Lessee at that time #me 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 Which is 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 commercially reasonable 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (a) exercising such option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) undertaking and completing all needed to make the repairs on or before the earlier of (i) the date which is 10 ten 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 commercially reasonable expense, repair repairs such damage as soon as reasonably possible and possible, this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide commences such funds or assurance repair during such period, then this Lease shall terminate on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease (Cupertino Electric Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month’s month s Base Rent, whether or not an Insured Loss, Lessor may at Lessor s option, terminate this Lease effective 60 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 30 shiny (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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 adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is 10 ten (10) days after Lessee’s Lessee s receipt of Lessor’s 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 commercially reasonable expense, '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 on as of the date specified set forth in the termination notice and Lessee’s option shall be extinguished.first sentence of this paragraph 9.5
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months 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 Insurance Loss, Lessor may terminate this Lease effective 60 ninety (90) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (a) exercising such option options and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereoftherefor) needed to make the repairs on or before the earlier of (i) the date which is 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Sublease Agreement (Xoma Corp /De/)
Damage Near End of Term. If at any time during the last 6 six (6) months of this Lease there is damage for which the cost to repair exceeds one month’s (1) months' Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.and
Appears in 1 contract
Samples: Sublease Agreement (Andromedia Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.,
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Overhill Farms Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months of this Lease 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten days after Lessee’s receipt of Lessor’s written notice purporting to terminate this Lease, or (ii) the day prior to the date rate 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 commercially reasonable 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Prolong International Corp)
Damage Near End of Term. If at any time during the last 6 six (6) months of the term of this Lease there is Is damage for which the cost to repair exceeds one (1) month’s Base Rent, whether or not an Insured Loss, Lessor may may, at Lessor’s option, terminate this Lease effective 60 sixty (80) 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, if Lessee however, H Losses at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease 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 In Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is 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 In Insurance proceeds, Lessor shall, at Lessor’s commercially reasonable expense, expense repair such damage as soon as reasonably possible and this Lease shall continue in 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 on as of the date specified in expiration of said sixty (60) day period following the termination occurrence of such damage by giving written notice and Lesseeto 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 grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Tenant Lease (Invivo Corp)
Damage Near End of Term. If at any time during the last 6 B months of this Lease there is Is damage for which the cost to repair exceeds one month’s 's Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding the foregoing, . 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 Insurance proceeds (or Or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is 10 days after Lessee’s 's receipt of Lessor’s 's written notice purporting to terminate this Lease, or (iiII) 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 Lessors commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in In full force and effectaffect. If Lessee Losses fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified in In the termination notice and Lessee’s Lesses's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Motorcar Parts America Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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 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 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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, 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 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 commercially reasonable expense, '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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Gross (Simpson Manufacturing Co Inc /Ca/)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 90 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement (RxSight, Inc.)
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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, 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 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 w adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s commercially reasonable expense, 's expense repair such damage as soon as reasonably possible and this Lease shall continue in 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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Saba Petroleum Co)
Damage Near End of Term. If at any time during the last lest 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding the foregoing, if . 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 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 commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in In full force and effect. If Lessee fails fells to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement (Trimedyne Inc)
Damage Near End of Term. If at any time during the last 6 months of this Lease there is damage for which the cost to repair exceeds one six (6) month’s Base Rent, whether or not an Insured Loss, Lessor or Lessee may terminate this Lease effective 60 thirty (30) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished. Notwithstanding anything to the contrary contained in this Lease, Lessee shall have the right to cancel this Lease upon written notice to Lessor in the event any damage to the Premises cannot be repaired within twelve (12) months from the date of loss.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoing, if Lessee at that time has an exercisable option to extend the term of this Lease or to purchase the Premises, then Lessee may preserve this Lease by, 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 (iI) the date which is 10 ten (10) days after Lessee’s receipt of Lessor’s written notice purporting to terminate this Lease, or (iiU) 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 commercially reasonable expense, promptly repair such damage as soon as reasonably possible in a commercially reasonable manner 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 on the date specified in In the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Industrial/Commercial Single Tenant Lease (Stevanato Group S.p.A.)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 thirty (30) 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, shall at Lessor’s '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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement (Etoys Inc)
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor's option, terminate this Lease effective 60 days following the date of occurrence of such damage See Rider Paragraph 23 by giving a written termination notice to Lessee of Lessor's election to do so within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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 adequate assurance thereof) needed to make the repairs on or before the earlier of (iI) the date which is 10 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 exercise 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 commercially reasonable expense, '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 on as of the date specified set forth in the termination notice and Lessee’s option shall be extinguishedfirst sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months of this Lease there is damage for which the cost to repair exceeds one two (2) month’s 's Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, however if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee Lease may preserve this Lease byby 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"), (aI) 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 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 commercially reasonable expense, 's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. 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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Gross (American Custom Components Inc)
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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, 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 for adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is 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 for adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s commercially reasonable expense, '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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Lease Agreement (BGF Industries Inc)
Damage Near End of Term. If (a) Subject to Paragraph 9.4(b), if at any time during the last 6 six months of the term of this Lease there is damage for which the cost to repair exceeds one month’s Base Rentsubstantial damage, whether or not an Insured Loss, which falls within the classification of Premises Partial Damage, Lessor or Lessee may at its option cancel and terminate this Lease effective 60 days following as of the date of occurrence of such damage by giving a written termination notice to Lessee the other party of its election to do so within 30 days after the date of occurrence of such damage. .
(b) Notwithstanding Paragraph 9.4(a), in the foregoing, if event that 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 10 days after Lessee’s receipt of Lessor’s written notice purporting to terminate renew this Lease, or and the time within which said option may be exercised has not yet expired, Lessee shall exercise such option, if it is to be exercised at all, no later than twenty (ii20) business days after the day prior to occurrence of an Insured Loss falling within the date upon which such option expiresclassification of Premises Partial Damage during the last six months of the term of this Lease. If Lessee duly exercises such option during such period and provides Lessor with funds said twenty (or adequate assurance thereof20) to cover any shortage in insurance proceedsbusiness day period, Lessor shall, at Lessor’s commercially reasonable 's expense, repair such any damage to the Base Building, other than tenant improvements, fixtures and Utility Installations constructed by Lessee, as soon as reasonably possible at Lessor's expense, in which event Lessee shall, at Lessee's expense, repair all other damage to the Premises and to Lessee's fixtures, equipment, tenant improvements or Utility Installations as soon as reasonably possible, and in such event this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such said twenty (20) business day period, then Lessor may at Lessor's option terminate and cancel this Lease shall terminate on as of the date specified in the termination expiration of said twenty (20) business day period by giving written notice and Lessee’s option shall be extinguished.to Lessee of Lessor's election to do so within ten (10) business days after
Appears in 1 contract
Samples: Lease (Vans Inc)
Damage Near End of Term. If at any time during the last 6 12 months 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 either Landlord or Tenant may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee the other party within 30 days after the date of occurrence of such damage. Notwithstanding 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 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 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 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 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 on the date specified in the termination notice and LesseeTenant’s option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 days after Lessee’s Lessed'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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Multi Tenant Office Lease (Villageedocs Inc)
Damage Near End of Term. If at any time during the last 6 months 2 years 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Lumenis LTD)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date Pages 7 of 16 8 specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Digitalthink Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 with thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in In the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement (Security Associates International Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 and Lessee may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee or Lessor within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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 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) a. the date which is 10 ten (10) days after Lessee’s 's receipt of Lessor’s 's written notice purporting to terminate this Lease, or (ii) b. 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Introbiotics Phamaceuticals Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding the foregoing, if Lessee at that the 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 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial Commercial Single Tenant Lease (Accuride Corp)
Damage Near End of Term. If at any time lime during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date data of occurrence of such damage. Notwithstanding the foregoing, if 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 Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is 10 ten days after Lessee’s receipt of Lessor’s written write 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, shall at Lessor’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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Osmetech PLC)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and LesseeXxxxxx’s option shall be extinguished.
Appears in 1 contract
Samples: Standard Multi Tenant Office Lease Gross (Signing Day Sports, Inc.)
Damage Near End of Term. If at any time during the last 6 months 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 or Lessee may terminate this Lease effective 60 ninety (90) days following the date of occurrence of such damage by giving a written termination notice to Lessee the other party within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 thirty (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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months 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 insured Loss, Lessor may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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, shall at Lessor’s '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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement (Communications & Power Industries Inc)
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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, within twenty (a20) exercising such option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make days following the repairs on occurrence of the damage, or before the earlier expiration of (i) the date which is 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 time provided in such option expiresfor its exercise, whichever is earlier ("Exercise Period"), exercising such option. If 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, said Exercise Period Lessor shall, at Lessor’s commercially reasonable expense, '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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Lease Agreement (Phoenix International Life Sciences Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Intest Corp)
Damage Near End of Term. If lf at any time during the last 6 six months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 1O 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.. (See Addendum Paragraph 68)
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Capstone Turbine Corp)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after alter the date data of occurrence of such damage. Notwithstanding 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, (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 10 ten days after Lessee’s receipt of Lessor’s Lessors 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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Eschelon Telecom Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (North Valley Bancorp)
Damage Near End of Term. If at any time during the last 6 months of this Lease there is damage for which the cost to repair exceeds one month’s months Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 days after Lessee’s Lessees receipt of Lessor’s Lessors 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 Lessors 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 on the date specified in the termination notice and Lessee’s Lessees option shall be extinguished.
Appears in 1 contract
Samples: Standard Multi Tenant Office Lease (Icon Vapor, Inc.)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (a) exercising such 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 10 ten 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) thereof to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s '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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Aci Telecentrics Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 twenty (20) 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Acadia Pharmaceuticals Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 days day 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 thereofof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s '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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Navarre Corp /Mn/)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding the foregoing, 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 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 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 proceedsthe extent otherwise required by this Section 9, Lessor shall, at Lessor’s 's and/or Lessee's, as applicable, 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement (Litronic Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 days after Lessee’s Xxxxxx'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 '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 on the date specified in the termination notice and Lessee’s Xxxxxx's option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 commercially reasonable 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Bebe Stores Inc)
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, however if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee Lease may preserve this Lease byby 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"), (aI) 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 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 commercially reasonable expense, 's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. effect If Lessee fails to exercise such the option and provide such funds or assurance during such period, then than this Lease shall terminate on as of the date specified set forth in the termination notice and Lessee’s option shall be extinguishedfirst sentence of this Paragraph 9.5.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.. DAMAGE OR DESTRUCTION - continued
Appears in 1 contract
Samples: Building Lease (Sew Cal Logo Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s '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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease (Burke Flooring Products Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months of this Lease there is damage for which the cost to repair exceeds one month’s two (2) months Base Rent, whether or not an Insured insured Loss, Lessor either party may terminate this the Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee the other party within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoing, if Lessee at a 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 (iI) the date which is 10 ten days after Lessee’s 's receipt of Lessor’s 's written notice purporting to terminate this Lease, or (iiII) 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 commercially reasonable 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 on the date specified in the termination notice and an Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement (Lifepoint Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 insured Loss, Lessor may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 six (6) months of this Lease there is damage for which the cost to repair exceeds one four (4) month’s 's Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 10 ten 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Lease Agreement (New Focus Inc)
Damage Near End of Term. If at any time during the last 6 six (6) months 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 terminate this Lease effective 60 sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding 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, (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 (iI) the date which is 10 thirty (30) 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 a shortage in insurance proceeds, Lessor shall, at Lessor’s '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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Netguru Inc)
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after aGer the date of occurrence of such damage. Notwithstanding 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 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 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 commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effecteffect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease Net (International Stem Cell CORP)
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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, 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 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 commercially reasonable expense, '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 on as of the date specified 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 then (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Farah Inc)
Damage Near End of Term. If at any time during the last 6 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 may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee Lessor may preserve this Lease 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 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 commercially reasonable '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 on the date specified in the termination notice and Lessee’s option shall be extinguished.shall
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after aGer the date of occurrence of such damage. Notwithstanding 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, (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 10 days after aGer 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 commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effecteffect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 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 insured Loss. Lessor may, Lessor may at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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, 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 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 commercially reasonable expense, '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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Single Tenant Lease (Informix Corp)
Damage Near End of Term. If at any time during the last 6 months of this Lease ease there is damage for which the cost to repair exceeds one month’s 's Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 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 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Samples: Standard Multi Tenant Office Lease (America Great Health)
Damage Near End of Term. If at any time during the last 6 months of this Lease there is damage for which the cost to repair exceeds one month’s month‘s Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 days after LesseeLesser’s receipt of LessorLessee’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 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 on the date specified in the termination notice and Lessee’s option shall be extinguished.
Appears in 1 contract
Samples: Standard Multi Tenant Office Lease Gross (Ventyx Biosciences, Inc.)
Damage Near End of Term. If at any time lime during the last 6 months of this Lease there is Is damage for which the cost to repair exceeds one month’s 's Base Rent, . whether or not an Insured en insured Loss, Lessor may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee Losses within 30 days after the date of occurrence of such damage. Notwithstanding the foregoing, if If Lessee at that time has an exercisable execrable 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 In Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i1) the date which is Is 10 days after 9 <PAGE> 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 Lassoes commercially reasonable 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 on the date specified in the termination notice and Lessee’s 's option shall be extinguished.
Appears in 1 contract
Damage Near End of Term. If at any time during the last 6 months 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 terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding 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, (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 10 days after Lessee’s Xxxxxx'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 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 on the date specified in the termination notice and Lessee’s Xxxxxx's option shall be extinguished.
Appears in 1 contract
Samples: Office Lease
Damage Near End of Term. If at any time during the last 6 six (6) months of this the term of the Lease there is damage for which the cost to repair exceeds one month’s Base RentPartial Damage, whether or not an Insured Loss, Lessor may may, at Lessor's option, terminate this Lease effective 60 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 30 thirty (30) days after the date of occurrence of such damage. Notwithstanding the foregoingProvided, 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, within twenty (a20) days following the date of 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 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 commercially reasonable '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 on as of the date specified 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 termination notice and Lessee’s grant of option shall be extinguishedto the contrary.
Appears in 1 contract
Samples: Standard Industrial Lease (L L Brown International Inc)