Common use of Damage Repair Clause in Contracts

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, Landlord shall, within thirty. (30) days after the date of such casualty, provide Tenant with Landlord’s good faith written estimate (the “Estimate”) of how long it will take to repair or restore the Premises. 14.1.2 If the Estimate indicates that Landlord will require less than two hundred forty (240) days after the date of such casualty to perform such repairs or restoration, then this Lease shall continue in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below) or delay caused by Tenant. Pending the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof. 14.1.3 If Landlord indicates within the Estimate that it will require in excess of two hundred forty (240) days after the date of such casualty to fully repair or restore the Premises in accordance herewith, then within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenant. If such restoration is not substantially completed within two hundred forty (240) days after the date of the casualty, (or such longer period as was referenced in the Estimate, if applicable), then for a period of up to thirty (30) days after the expiration of such period (but in all events no later than the date Landlord substantially completes its restoration of the Premises), Tenant shall have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage.

Appears in 2 contracts

Samples: Lease Agreement (Wave2Wave Communications, Inc.), Lease Agreement (Wave2Wave Communications, Inc.)

AutoNDA by SimpleDocs

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, as determined by the parties in their reasonable discretion, or if the Building shall be damaged to such an extent that Tenant is denied reasonable access to the Premises (even though the interior, tenanted portions of the Premises are not damaged or the damage thereto does not, in and of itself, render the Premises untenantable), then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, belowthe applicable provisions of this Article 14, Landlord shall, within thirty. sixty (3060) days after the date of such casualty, provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the PremisesPremises or to restore access thereto. 14.1.2 If the Estimate indicates estimates that Landlord will require less than two hundred forty ten (240210) days after the date of such casualty to perform such repairs or restoration, then this Lease Landlord shall continue in full force use reasonable efforts to commence promptly and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and to diligently prosecute to completion the restoration of the Premises (or the applicable portion of the Building) to their condition immediately prior to such casualtyits previous condition, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below46.8) or delay caused by governmental delay, and pending substantial completion of such restoration (which shall mean and include Tenant. Pending 's right to lawfully occupy, or regain reasonable access to, the restoration of Premises), the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent and additional rent shall be abated from the date of the casualty in the same proportion as the untenantable portion of the Premises bears to the whole thereof, and this Lease shall continue in full force and effect. For purposes of the foregoing, if Tenant is denied reasonable access to the Premises by virtue of such casualty affecting other portions of the Building, then the Premises shall be deemed wholly untenantable. 14.1.3 If Landlord indicates estimates within the Estimate that it will require in excess of two hundred forty ten (240210) days after the date of such casualty to fully repair or restore the Premises (or the applicable portions of the Building) in accordance herewith, then within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, and Landlord fails or declines to exercise any other termination right pursuant to this Section 14if the Estimate is less than two hundred ten (210) days, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, will use all reasonable efforts to commence and diligently prosecute to completion the complete its restoration of the Premises to their condition immediately prior to such casualty(or the applicable portion of the Building) promptly, subject to Section 14.4 below and subject and, except as extended by reason of any Force Majeure or governmental delay (which shall equal one day of extension for each day of delay due to Force Majeure or governmental delay, not to exceed sixty (as defined herein60) or delay caused by Tenant. If days in the aggregate), in the event Landlord is unable to complete such restoration is not substantially completed within two hundred forty ten (240210) days after the date of the casualty, casualty (or such longer period as was referenced in the Estimate, if applicable), then for a period of up to within thirty (30) days after the expiration of such two hundred ten (210) day period (or such longer period as was referenced in the Estimate, if applicable) (but in all events no later than prior to the date Landlord substantially completes its restoration of the Premisessuch restoration), Tenant shall again have the right to terminate this Lease upon thirty (30) days prior written notice to LandlordLandlord ; provided, however, that if Landlord completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s 's notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage. 14.1.5 If more than fifty percent (50%) of the Premises is destroyed or rendered untenantable by fire or other casualty and Landlord restores the Premises pursuant to this Section 14, the Lease Term shall be tolled for the period commencing on the date of such fire or casualty and ending on the date upon which such restoration is completed.

Appears in 1 contract

Samples: Lease (Boron Lepore & Associates Inc)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the Premises. 14.1.2 If the Estimate indicates that Landlord will require less than two one hundred forty eighty (240180) days after the date of such casualty to perform such repairs or restoration, then this Lease shall continue in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualtyprevious condition, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, belowherein) or delay caused by Tenant. Pending substantial completion of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof. 14.1.3 If Landlord indicates within the Estimate that it will require in excess of two one hundred forty eighty (240180) days after the date of such casualty to fully repair or restore the Premises in accordance herewith, then within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by written notice to the otherLandlord, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, and Landlord fails or declines to exercise any other termination right pursuant to otherwise provided in this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenantrestoration. If such restoration is not substantially completed within two one hundred forty eighty (240180) days after the date of the casualty, casualty (or such longer period as was referenced in the Estimate, if applicable), then for a period of up to thirty (30) days after the expiration of such period (but in all events no later than the date Landlord substantially completes its restoration of the Premises), Tenant shall have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s 's notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage.

Appears in 1 contract

Samples: Lease Agreement (Net2000 Communications Inc)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the Premises. 14.1.2 If the Estimate indicates that Landlord will require less than two one hundred forty eighty (240180) days after the date of such casualty to perform such repairs or restoration, then this Lease shall continue in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below) or not to exceed thirty (30) days in the aggregate, and subject further to delay caused by Tenant. Pending the restoration Substantial Completion (as defined in EXHIBIT C) of the Premises so that Tenant shall have the ability to resume normal business operationssuch restoration, Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof. 14.1.3 If Landlord indicates within the Estimate that it will require in excess of two one hundred forty eighty (240180) days after the date of such casualty to fully repair or restore the Premises in accordance herewith, then within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. Pending such termination, the Rent shall be abated from the date of the fire or other casualty in the same proportion as the untenantable portion of the Premises bears to the whole thereof. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenant. If such restoration is not substantially completed within two one hundred forty eighty (240180) days after the date of the casualty, casualty (or such longer period as was referenced in the Estimate, if applicable), then for a period of up to thirty (30) days after the expiration of such period (but in all events no later than the date Landlord substantially completes its restoration of the Premises), Tenant shall have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s 's notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage.

Appears in 1 contract

Samples: Lease Agreement (MCK Communications Inc)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, then Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s good faith written estimate (the “Estimate”) of how long it will take to repair or restore the Premises. 14.1.2 If neither party elects to terminate this Lease in accordance with the Estimate indicates that Landlord will require less than two hundred forty (240) days after the date of such casualty to perform such repairs or restorationterms hereof following any casualty, then this Lease Landlord shall continue in full force and effect, and Landlord shall, commence promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualtyprevious condition, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below) or delay herein and delays caused by Tenant. Pending ; and pending substantial completion of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent and Additional Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof, and this Lease shall continue in full force and effect. 14.1.3 If Landlord indicates estimates within the Estimate that it will require in excess of two one hundred forty eighty (240180) days after the date Tenant’s right of such casualty termination hereunder expires to fully repair or restore the Premises in accordance herewith, then then, within thirty (30) days after Landlord delivers Tenant the Estimate, either Tenant and Landlord or Tenant shall each have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effecteffect except as otherwise specifically set forth herein. Notwithstanding the foregoing, Tenant shall not have the right to terminate this Lease if the fire or other casualty was the result of Tenant’s gross negligence or willful misconduct. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, Lease and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, will use all reasonable efforts to commence and diligently prosecute to completion the complete its restoration of the affected portions of the Premises promptly, and in the event Landlord is unable to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenant. If complete such restoration is not substantially completed within two one hundred forty eighty (240180) days after the date Tenant’s right of the casualty, termination hereunder expires (or such longer period as was referenced in the Estimate, if applicable), as such period may be extended due to Force Majeure (not to exceed ninety (90) days) or due to any delays caused by Tenant (and not limited as to the number of days) then for a period of up to within thirty (30) days after the expiration of such period (but in all events no later than prior to the date Landlord substantially completes its restoration of the Premises), Tenant shall again have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; , provided, however, that if Landlord substantially completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage. 14.1.5 If at any time in the course of its restoration of damaged portions of the Premises, Landlord believes in good faith that its original Estimate is no longer accurate for reasons other than Force Majeure (in which event the provisions of Section 14.1 4 shall control), Landlord shall have the right to deliver a revised Estimate to Tenant of the additional time period which Landlord believes will be required to fully repair or restore the Premises in accordance herewith, and, unless Tenant terminates this Lease by written notice to Landlord within ten (10) business days after its receipt of such revised Estimate from Landlord, Tenant shall be deemed to have agreed that, for all purposes of this Section 14.1, the one hundred eighty (180) day time limit otherwise imposed upon completion of Landlord’s restoration of the damaged portions of the Premises shall be extended by the number of additional days needed to complete estimated by Landlord within such revised Estimate. If Tenant elects to terminate this Lease as to the damaged Building after receiving such a revised Estimate from Landlord, as aforesaid, such termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing hereunder with respect to such Building shall terminate and be of no legal force and effect except as otherwise specifically set forth herein.

Appears in 1 contract

Samples: Assignment Agreement (ICF International, Inc.)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the Premises. 14.1.2 If the Estimate indicates that Landlord will require less than two one hundred forty eighty (240180) days after the date of such casualty to perform such repairs or restoration, then this Lease shall continue in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualtyprevious condition, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, belowherein) or delay caused by Tenant. Pending substantial completion of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof. 14.1.3 If Landlord indicates within the Estimate that it will require in excess of two one hundred forty eighty (240180) days after the date of such casualty to fully repair or restore the Premises in accordance herewith, then within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenantrestoration. If such restoration is not substantially completed within two one hundred forty eighty (240180) days after the date of the casualty, casualty (or such longer period as was referenced in the Estimate, if applicable), then for a period of up to thirty (30) days after the expiration of such period (but in all events no later than the date Landlord substantially completes its restoration of the Premises), Tenant shall have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s 's notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage.

Appears in 1 contract

Samples: Lease Agreement (Marcam Solutions Inc)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the Premises. 14.1.2 If the Estimate indicates that Landlord will require less than two one hundred forty (240180) days after the date of such casualty governmental permits and approvals are obtained to perform such repairs or restoration, then this Lease shall continue in full force and effect, and Landlord shall, promptly after adjusting the insurance claim claim, promptly (within, in any event, no more than forty-five (45) days of the date of the Estimate) apply for and obtaining obtain governmental approvals for reconstruction, reconstruction and promptly commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualtyprevious condition, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, belowherein) or delay caused by Tenant. Pending substantial completion of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof. 14.1.3 If Landlord indicates within the Estimate that it will require in excess of two one hundred forty eighty (240180) days after the date of such casualty obtaining governmental permits and approvals to fully repair or restore the Premises in accordance herewith, then within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenantrestoration. If such restoration is not substantially completed within two one hundred forty eighty (240180) days after the date of the casualty, obtaining permits and approvals as aforesaid (or such longer period as was referenced in the Estimate, if applicable), then for a period of up to thirty (30) days after the expiration of such period (but in all events no later than the date Landlord substantially completes its restoration of the Premises), Tenant shall have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s 's notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage.

Appears in 1 contract

Samples: Lease (Arbor National Holdings Inc)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, then Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s good faith written estimate (the “Estimate”) of how long it will take to repair or restore the Premises. 14.1.2 If neither party elects to terminate this Lease in accordance with the Estimate indicates that Landlord will require less than two hundred forty (240) days after the date of such casualty to perform such repairs or restorationterms hereof following any casualty, then this Lease Landlord shall continue in full force and effect, and Landlord shall, commence promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualtyprevious condition, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below) or delay herein and delays caused by Tenant. Pending ; and pending substantial completion of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent and Additional Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof, and this Lease shall continue in full force and effect provided Tenant can conduct its intended business use in the remaining portion of the Premises. 14.1.3 If Landlord indicates estimates within the Estimate that it will require in excess of two one hundred forty twenty (240120) days after the date Tenant’s right of such casualty termination hereunder expires to fully repair or restore the Premises in accordance herewith, then then, within thirty (30) days after Landlord delivers Tenant the Estimate, either Tenant and Landlord or Tenant shall each have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of terminationcasualty, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effecteffect except as otherwise specifically set forth herein. Notwithstanding the foregoing, Tenant shall not have the right to terminate this Lease if the fire or other casualty was the result of Tenant’s gross negligence or willful misconduct. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, Lease and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, will use all reasonable efforts to commence and diligently prosecute to completion the complete its restoration of the affected portions of the Premises promptly, and in the event Landlord is unable to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenant. If complete such restoration is not substantially completed within two one hundred forty twenty (240120) days after the date Tenant’s right of the casualty, termination hereunder expires (or such longer period as was referenced in the Estimate, if applicable), as such period may be extended due to Force Majeure or due to any Tenant Delays (as such term is defined in Exhibit C hereof, and not limited as to the number of days) then for a period of up to within thirty (30) days after the expiration of such period (but in all events no later than prior to the date Landlord substantially completes its restoration of the Premises), Tenant shall again have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord substantially completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage. 14.1.5 If at any time in the course of its restoration of damaged portions of the Premises, Landlord believes in good faith that its original Estimate is no longer accurate for reasons other than Force Majeure (in which event the provisions of Section 14.1.4 shall control), Landlord shall have the right to deliver a revised Estimate to Tenant of the additional time period which Landlord believes will be required to fully repair or restore the Premises in accordance herewith, and, unless Tenant terminates this Lease by written notice to Landlord within ten (10) business days after its receipt of such revised Estimate from Landlord, Tenant shall be deemed to have agreed that, for all purposes of this Section 14.1, the 240 day time limit otherwise imposed upon completion of Landlord’s restoration of the damaged portions of the Premises shall be extended by the number of additional days needed to complete estimated by Landlord within such revised Estimate. If Tenant elects to terminate this Lease as to the damaged Building after receiving such a revised Estimate from Landlord, as aforesaid, such termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing hereunder with respect to such Building shall terminate and be of no legal force and effect except as otherwise specifically set forth herein.

Appears in 1 contract

Samples: Deed of Lease (Alliance Bankshares Corp)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, as agreed to by Landlord and Tenant or determined by the local fire marshal or building inspector, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s good faith written estimate (the “Estimate”) of how long it will take to repair or restore the Premises. 14.1.2 If the Estimate indicates that Landlord will require less than two one hundred forty eighty (240180) days after the date of such casualty to perform such repairs or restoration, then this Lease shall continue in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.847.7, below) or delay caused by Tenant). Pending termination of this Lease or substantial completion of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent shall be abated from the date of the casualty in the same proportion as the untenantable portion of the Premises bears to the whole thereof, as agreed to by Landlord and Tenant, or determined by the governmental official set forth above. 14.1.3 If Landlord indicates within the Estimate that it will require in excess of two one hundred forty eighty (240180) days after the date of such casualty to fully repair or restore the Premises in accordance herewith, then within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenant). If such restoration is not substantially completed within two one hundred forty eighty (240180) days after the date of the casualty, casualty (or such longer period as was referenced in the EstimateEstimate and agreed to by Tenant, if applicable), then for a period of up to thirty (30) days after the expiration of such period (but in all events no later than the date Landlord substantially completes its restoration of the Premises), Tenant shall have the right to terminate this Lease upon thirty (30) days prior written notice to LandlordLandlord without any cost, fee or penalty of any kind or nature; provided, however, that if Landlord completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damagedamage and shall not be subject to extension by virtue of the other provisions hereof including, but not limited to, Force Majeure.

Appears in 1 contract

Samples: Deed of Lease (NCI, Inc.)

AutoNDA by SimpleDocs

Damage Repair. 14.1.1 A If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, or if access to the Premises shall be denied by virtue of damage caused in a fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, this Section 4.4. Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the Premises. 14.1.2 Premises to the extent described in Section 4.4.3, below. B If the Estimate indicates that Landlord will require less than two hundred forty ten (240210) days after the date of such casualty to perform such repairs or restoration, then this Lease Landlord shall continue in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of restore the Premises to their condition immediately prior to such casualty, subject to in accordance with Section 14.4 below and subject to Force Majeure (as defined in Section 47.84.4.3, below) or delay caused by Tenant. Pending the restoration substantial completion of the Premises so that Tenant shall have the ability to resume normal business operationssuch restoration, Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof. 14.1.3 . C If Landlord indicates within in the Estimate that it will require in excess of two hundred forty ten (240210) days after the date of such casualty to fully repair or restore the Premises in accordance herewithwith this Section 4.4, then within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by a written notice to the other, which other specifying the effective date of termination. The effective date of termination specified in the notice shall not be effective as of less than thirty (30) nor more than forty-five (45) days after the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. 14.1.4 is given. D If neither party elects to terminate the Lease, as aforesaidLease under Section 4.4.1.C., and Landlord fails or declines to exercise any other termination right pursuant to this Section 144.4, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of shall restore the Premises to their condition immediately prior to such casualtyin accordance with Section 4.4.3, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenantbelow. If such restoration is not substantially completed within two hundred forty ten (240210) days after the date of the casualty, casualty (or such longer period as was referenced indicated in the Estimate, if applicable), then for a period of up to thirty (30) days after the expiration of such period (but in all events no later than the date Landlord substantially completes its restoration of the Premises), Tenant Tenant, as its sole remedy, shall have the right to terminate this Lease upon thirty (30) days days' prior written notice to Landlord; provided, however, that if Landlord completes such restoration prior to the end of the such thirty (30) day notice period, Tenant’s 's notice of termination shall be deemed rescinded and ineffective for all purposesrescinded, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage.

Appears in 1 contract

Samples: Lease Agreement (TechTarget Inc)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, then Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the Premises. 14.1.2 If neither party elects to terminate this Lease in accordance with the Estimate indicates that Landlord will require less than two hundred forty (240) days after the date of such casualty to perform such repairs or restorationterms hereof following any casualty, then this Lease Landlord shall continue in full force and effect, and Landlord shall, commence promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualtyprevious condition, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, belowherein (not to exceed 120 days) or delay and delays caused by Tenant. Pending ; and pending substantial completion of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof, and this Lease shall continue in full force and effect. 14.1.3 If Landlord indicates estimates within the Estimate that it will require in excess of two hundred forty (240) days after the date of such casualty to fully repair or restore the Premises in accordance herewith, then then, within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or Tenant shall have the right to terminate this Lease by written notice to the otherLandlord, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effecteffect except as otherwise specifically set forth herein. The foregoing notwithstanding, in the event the damage is confined to less than all of the Buildings, Tenant shall have the additional right to terminate this Lease only as to the affected Building or Buildings. Notwithstanding the foregoing, Tenant shall have no right to terminate this Lease if the fire or other casualty was the result of Tenant's willful misconduct. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, Lease and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, will use all reasonable efforts to commence and diligently prosecute to completion the complete its restoration of the affected portions of the Premises promptly, and in the event Landlord is unable to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenant. If complete such restoration is not substantially completed within two hundred forty (240) days after the date of the casualty, casualty (or such longer period as was referenced in the Estimate, if applicable), as such period may be extended due to Force Majeure (not to exceed 120 days) or due to any Tenant Delays (as such term is defined in Exhibit C hereof, and not limited as to the number of days) then for a period of up to within thirty (30) days after the expiration of such period (but in all events no later than prior to the date Landlord substantially completes its restoration of the Premises), Tenant shall again have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord substantially completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s 's notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage. 14.1.5 If at any time in the course of its restoration of damaged portions of the Premises, Landlord believes in good faith that its original Estimate is no longer accurate for reasons other than Force Majeure (in which event the provisions of Section 14.1.4 shall control), Landlord shall have the right to deliver a revised Estimate to Tenant of the additional time period which Landlord believes will be required to fully repair or restore the Premises in accordance herewith, and, unless Tenant terminates this Lease by written notice to Landlord within ten (10) business days after its receipt of such revised Estimate from Landlord, Tenant shall be deemed to have agreed that, for all purposes of this Section 14.1, the 240 day time limit otherwise imposed upon completion of Landlord's restoration of the damaged portions of the Premises shall be extended by the number of additional days needed to complete estimated by Landlord within such revised Estimate. If Tenant elects to terminate this Lease as to the damaged Building(s) after receiving such a revised Estimate from Landlord, as aforesaid, such termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing hereunder with respect to such Building(s) shall terminate and be of no legal force and effect except as otherwise specifically set forth herein. 14.1.6 If more than fifty percent (50%) of the Premises is destroyed or rendered untenantable by fire or other casualty and Landlord restores the Premises pursuant to this Section 14, the Lease Term shall be tolled for the period commencing on the date of such fire or casualty and ending on the date upon which such restoration is completed.

Appears in 1 contract

Samples: Sublease Agreement (Information Analysis Inc)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted permitte1 pursuant to Sections 14.2 and/or 14.5, below, Landlord shall, within thirty. thirty (30) days after the date da~ of such casualtycasualty (sixty (60) days if the casualty involves more than 25% of the square footage or more than I25% of the replacement cost of the Premises), provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the Premises. 14.1.2 If the lfthe Estimate indicates that Landlord will require less than two hundred forty h~dred ten (240210) days after from the date of the occurrence of such fire or other casualty to perform achieve Substantial Completion (as defined herein) of such repairs or restoration, then this Lease shall continue connnoe in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below), not to exceed one hundred twenty (120) or days in the aggregate, and subject further to delay caused by Tenant. Pending Tenant.1Pending Substantial Completion (as defined herein) of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent shall be abated from the date of the fire or other casualty in the same proportion as the untenantable portion of the Premises Pre~ses bears to the whole thereofthereof In addition, if the casualty renders the Premises as a whole unusable (as determined by Tenant in its reasonable judgment), and Tenant in fact ceases use of the Premises (other than in a de minimis fashion) as a result of the extent of such casualty, then the Rlent shall xxxxx in its entirety from the date of the fire or other casualty until the date of Substantial Completion of such restoration. 14.1.3 If Landlord lfLandlord indicates within the Estimate that it will require in excess of two hundred forty ten (240210) days after the date of such casualty to fully repair or restore the Premises in accordance herewith, then thJn within thirty (30) days after Landlord delivers Tenant the Estimate, either Landlord or then Tenant shall have the th1 right to terminate this Lease by written notice to the otherLandlord, which termination shall be effective as of the date of specified in such notice of terminationoftermination, which shall not be more than ninety (90) days ttlereafter, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure . Pending Substantial Completion (as defined herein) or delay caused by Tenant. If of such restoration is not substantially completed within two hundred forty (240) days after or such termination, whichever first occurs, the Rent shall be abated from the date of the casualty, (fir6 or such longer period as was referenced other casualty in the Estimate, if applicable), then for a period of up to thirty (30) days after same proportion as the expiration of such period (but in all events no later than the date Landlord substantially completes its restoration untenantable portion of the Premises), Tenant shall have the right Premises bears to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage.tie whole I31

Appears in 1 contract

Samples: Lease Agreement (OMNICELL, Inc)

Damage Repair. 14.1.1 If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualtycasualty (the “Casualty”), then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, then Landlord shall, within thirty. thirty (30) days after the date of such casualty, provide Tenant with Landlord’s good faith written estimate (the “Estimate”) of how long it will take to repair or restore the Premises. 14.1.2 If the Estimate indicates that Landlord will require less than two hundred forty (240) days after the date of such casualty to perform such repairs or restoration, then this Lease shall continue determines as set forth in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below) or delay caused by Tenant. Pending the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof. 14.1.3 If Landlord indicates within the its Estimate that it will require in excess of two one hundred forty twenty (240120) days after the date of such casualty Casualty to fully repair or restore the Premises in accordance herewith, then then, within thirty (30) days after Landlord delivers Tenant the Estimate, either Tenant and Landlord or Tenant shall each have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of terminationCasualty, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effecteffect except as otherwise specifically set forth herein. Notwithstanding the foregoing, Tenant shall not have the right to terminate this Lease if the fire or other casualty was the result of Tenant’s gross negligence or willful misconduct. 14.1.4 14.1.3 If neither party elects to terminate this Lease in accordance with the Leaseterms hereof following any Casualty, as aforesaidthen Landlord, and Landlord fails or declines subject to exercise any other termination right pursuant the receipt of insurance proceeds sufficient to this Section 14fully repair the Casualty, Landlord shall, shall commence promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualtyprevious condition, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay herein and delays caused by Tenant. If ; and pending substantial completion of such restoration, the Base Rent and Additional Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof, and this Lease shall continue in full force and effect provided Tenant can conduct its intended business use in the remaining portion of the Premises. 14.1.4 In the event Landlord is unable to complete such restoration is not substantially completed within two one hundred forty twenty (240120) days after the date of the casualty, Casualty (or such longer period as was referenced in the Estimate, if applicable), as such period may be extended due to Force Majeure or due to any Tenant Delays (as such term is defined in Exhibit C hereof, and not limited as to the number of days) then for a period of up to within thirty (30) days Deed of Lease Alliance Home Funding, LLC Page 20 of 63 after the expiration of such period (but in all events no later than prior to the date Landlord substantially completes its restoration of the Premises), Tenant shall again have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord substantially completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage. 14.1.5 If at any time in the course of its restoration of damaged portions of the Premises, Landlord believes in good faith that its original Estimate is no longer accurate for reasons other than Force Majeure (in which event the provisions of Section 14.1.4 shall control), Landlord shall have the right to deliver a revised Estimate to Tenant of the additional time period which Landlord believes will be required to fully repair or restore the Premises, and, unless Tenant terminates this Lease by written notice to Landlord within ten (10) business days after its receipt of such revised Estimate from Landlord, Tenant shall be deemed to have agreed that, for all purposes of this Section 14.1, to the number of additional days needed to fully repair and restore the Premises as estimated by Landlord within such revised Estimate. If Tenant elects to terminate this Lease as to the damaged Building after receiving such a revised Estimate from Landlord, as aforesaid, such termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing hereunder with respect to such Building shall terminate and be of no legal force and effect except as otherwise specifically set forth herein.

Appears in 1 contract

Samples: Deed of Lease (Alliance Bankshares Corp)

Damage Repair. 14.1.1 If the Building or Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then, unless this Lease is terminated for reasons permitted pursuant to Sections 14.2 and/or 14.5, below, then Landlord shall, within thirty. thirty (30) days after 26 the date of such casualty, provide Tenant with Landlord’s 's good faith written estimate (the "Estimate") of how long it will take to repair or restore the Premises. 14.1.2 If neither party elects to terminate this Lease in accordance with the Estimate indicates that Landlord will require less than two hundred forty (240) days after the date of such casualty to perform such repairs or restorationterms hereof following any casualty, then this Lease Landlord shall continue in full force and effect, and Landlord shall, commence promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to completion the restoration of the Premises to their condition immediately prior to such casualtyprevious condition, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below) or delay herein and delays caused by Tenant. Pending ; and pending substantial completion of such restoration, the restoration of the Premises so that Tenant shall have the ability to resume normal business operations, Base Rent and Additional Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof, and this Lease shall continue in full force and effect. 14.1.3 If Landlord indicates estimates within the Estimate that it will require in excess of two one hundred forty eighty three (240183) days after the date Tenant's right of such casualty termination hereunder expires to fully repair or restore the Premises in accordance herewith, then then, within thirty (30) days after Landlord delivers Tenant the Estimate, either Tenant and Landlord or Tenant shall each have the right to terminate this Lease by written notice to the other, which termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effecteffect except as otherwise specifically set forth herein. Notwithstanding the foregoing, Tenant shall not have the right to terminate this Lease if the fire or other casualty was the result of Tenant's negligence or willful misconduct. 14.1.4 If neither party elects to terminate the Lease, as aforesaid, Lease and Landlord fails or declines to exercise any other termination right pursuant to this Section 14, Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, will use all reasonable efforts to commence and diligently prosecute to completion the complete its restoration of the affected portions of the Premises promptly, and in the event Landlord is unable to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined herein) or delay caused by Tenant. If complete such restoration is not substantially completed within two one hundred forty eighty three (240183) days after the date Tenant's right of the casualty, termination hereunder expires (or such longer period as was referenced in the Estimate, if applicable), as such period may be extended due to Force Majeure or due to any Tenant Delays (as such term is defined in Exhibit C hereof, and not limited as to the number of days) then for a period of up to within thirty (30) days after the expiration of such period (but in all events no later than prior to the date Landlord substantially completes its restoration of the Premises), Tenant shall again have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord substantially completes such restoration (such that Tenant may lawfully re-enter and occupy the Premises in accordance with the terms of this Lease) prior to the end of the thirty (30) day notice period, Tenant’s 's notice of termination shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of casualty damage. 14.1.5 If at any time in the course of its restoration of damaged portions of the Premises, Landlord believes in good faith that its original Estimate is no longer accurate for reasons other than Force Majeure (in which event the provisions of Section 14.1.4 shall control), Landlord shall have the right to deliver a revised Estimate to Tenant of the additional time period which Landlord believes will be required to fully repair or restore the Premises in accordance herewith, and, unless Tenant terminates this Lease by written notice to Landlord within ten (10) business days after its receipt of such revised Estimate from Landlord, Tenant shall be deemed to have agreed that, for all purposes of this Section 14.1, the 183 day time limit otherwise imposed upon completion of Landlord's restoration of the damaged portions of the Premises shall be extended by the number of additional days needed to complete 27 estimated by Landlord within such revised Estimate. If Tenant elects to terminate this Lease as to the damaged Building after receiving such a revised Estimate from Landlord, as aforesaid, such termination shall be effective as of the date of such notice of termination, and all liabilities and obligations of Landlord and Tenant thereafter accruing hereunder with respect to such Building shall terminate and be of no legal force and effect except as otherwise specifically set forth herein.

Appears in 1 contract

Samples: Deed of Lease (Interliant Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!