Common use of Damage to Demised Premises Clause in Contracts

Damage to Demised Premises. 11.1 In the event that the Demised Premises are totally destroyed, or so damaged by fire or other casualty not occurring through the fault or negligence of Tenant, its employees, agents or business invitees, that the same, in the opinion of Landlord, cannot be repaired and restored within a period of six (6) months, this Lease shall absolutely cease and terminate and the Rent shall be apportioned as of the date of the casualty and xxxxx for the balance of the term. Landlord shall serve notice upon Tenant within thirty (30) days after the casualty as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month period. 11.2 If the damage, caused as above, be only partial or such that the Demised Premises can, in the opinion of the Landlord, be restored to their present condition within a period of six (6) months, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Building, even though the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of Landlord's clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In the event the Landlord undertakes to make repairs to or restore the Demised Premises, Landlord shall not be obligated to restore or replace property owned by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction of the Rent. 11.5 In no event shall Landlord have any obligation to repair or restore the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverage.

Appears in 2 contracts

Samples: Lease Agreement (Syneron Medical Ltd.), Lease Amendment (Syneron Medical Ltd.)

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Damage to Demised Premises. 11.1 In A. If, during the event that term of this Lease, the Demised Premises are totally destroyed, or so damaged partially destroyed by fire or other casualty not occurring through casualty, so as to render the fault Demised Premises wholly unfit for occupancy or negligence make it impossible to conduct the business of TenantTenant thereon, its employees, agents or business invitees, and if it reasonably appears that the same, in the opinion of Landlord, Demised Premises cannot be repaired and restored within a period of six one hundred twenty (6120) months, this Lease shall absolutely cease and terminate and the Rent shall be apportioned as of days from the date of the casualty and xxxxx for the balance of the term. damage, then either Tenant or Landlord shall serve notice upon have the right to terminate this Lease from the date of such damage or destruction, by giving the other party written notice. Upon the giving of such notice, Tenant within thirty (30) days after the casualty as to whether shall immediately surrender the Demised Premises can and will all interest therein, including rights to insurance proceeds as provided in fact Paragraph 11 hereof, to Landlord, and in case of any such termination, Landlord may re-enter and repossess the Demised Premises discharged of this Lease and may dispossess all Parties then in possession thereof. If the Demised Premises cannot be repaired and restored in one hundred twenty (120) days from the date of such damage and neither Tenant nor Landlord elect to terminate the Lease, then, and upon the commencement of the repair or restoration, the Lease may not be terminated but rent may be abated according to the nature and extent of the damage. Full rent shall commence on the date that the repair and restoration is completed. If it reasonably appears that the Demised Premises may be repaired and restored within one hundred twenty (120) days from the six (6) month period. 11.2 If the damagedate of damage or destruction, caused as abovethen Landlord, be only partial or such that at its own sole cost and expense, shall repair and restore the Demised Premises canwith all reasonable speed; provided, however, that in the opinion of the Landlord, no event shall Landlord be restored required to their present condition within a period of six (6) months, Landlord agrees with reasonable promptness to repair and restore the same, reserving the right to enter upon the Demised Premises for at a cost greater than the net proceeds of moneys received from an insurance policy or insurance policies covering such loss or damages, nor shall Landlord be required to commence repair and restoration until such fact is determined. During the period of repair, a just portion of the rent reserved under Paragraph 4 hereof, but not Tenant's obligation to make payments or performance under any other paragraphs of this Lease, shall be abated according to the nature and extent of damages and Tenant’s ability to occupy a portion of the Demised Premises. Full rent shall recommence on the date that purpose. Landlord also reserves repairs are completed. B. If the right to enter upon damage or destruction does not render the Demised Premises whenever necessary to unfit for occupancy, then Landlord shall repair damage caused by and restore the Demised Premises as soon as practicable and, in that case, Tenant shall pay full rent during the repair period. All repairs resulting from such fire or other casualty to Tenant's Building, even though the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time paid by Landlord is in possessionout of any insurance proceeds received, taking into account the portion of the Demised Premises rendered untenantable and the duration of Landlord's clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, but if any. 11.3 In the event the Landlord undertakes to make repairs to or restore the Demised Premises, Landlord shall not be obligated to restore or replace property owned by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction of the Rent. 11.5 In no event shall Landlord have any obligation insurance proceeds are insufficient to repair or restore the Demised Premises if to their previous condition, Tenant shall pay any additional amounts required to make such repairs and restoration. C. In any event, all improvements, betterment, fixtures or equipment placed by Tenant on the cost thereof Demised Premises, for which insurance is not provided on behalf of Landlord by Tenant, shall exceed be repaired by Tenant at its own expense and not at the proceeds expense of any applicable insurance coverageLandlord.

Appears in 1 contract

Samples: Lease Agreement (Twin Cities Power Holdings, LLC)

Damage to Demised Premises. 11.1 (a) In the event that the Demised Premises are is totally destroyed, destroyed or so damaged by fire or other casualty not occurring through the fault or negligence of Tenantthe Tenant or those employed by or acting for him, its employees, agents or business invitees, that the samethat, in Landlord's judgment, the opinion of Landlord, same cannot be repaired and or restored within a period of six one hundred eighty (6180) monthsdays, this Lease shall absolutely cease and terminate determine, and the Rent rent shall be apportioned abate as of the date of the casualty and xxxxx for the balance of the term. Landlord If Xxxdlord cannot locate alternate space for Tenant to continue operation during the course of the repairs, then Tenant shall serve notice upon Tenant have the right to terminate this Lease within thirty (30) days after the casualty as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month perioddays. 11.2 (b) If the damage, damage caused as above, above be only partial or and such that the Demised Premises canPremises, in the opinion of the Landlord's judgment, can be restored to their present condition within a the time period of six and under the conditions as provided in Subparagraph 13(a) above, the Landlord may, at its option, restore the same (6excluding fixtures and improvements owned by Tenant) months, Landlord agrees with reasonable promptness to restore the samepromptness, reserving the right to enter upon the Demised Premises for that purpose. The Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Buildingthe building of which the Demised Premises is a part, even though the effect of such entry would be to render the demised premise Demised Premises or a part thereof untenantable. In either event, event the Rent rent shall be apportioned and/or and suspended during the time the Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of the Landlord's possession. If a dispute arises as to the amount of rent due under this clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In (c) Landlord shall make such election to repair the event Demised Premises or terminate this Lease by giving notice thereof to Tenant within thirty (30) days from the day Landlord undertakes received notice that the Demised Premises had been destroyed or damaged by fire or other casualty. (d) Notwithstanding the fact that Landlord may have elected to make repairs repair the Demised Premises within said thirty (30) day period, if the mortgagee chooses to accelerate the mortgage due to damage by fire or restore other casualty to the Demised Premises or the building of which the Demised Premises is a part, Landlord shall have the right to rescind and/or cancel said election to repair and shall have the right to elect not to repair the damaged to the Demised Premises or the building of which the Demised Premises is a part, provided said notification of election not to repair is given to Tenant within thirty (30) days after date of the receipt of said notice of acceleration. (e) Landlord shall not be liable for any damage, compensation or claim by reason of inconvenience or annoyance arising from the necessity of repairing any portion of the building, the interruption in the use of the Demised Premises, Landlord shall not be obligated to restore or replace property owned the termination of this Lease by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction reason of the Rent. 11.5 In no event shall Landlord have any obligation to repair or restore destruction of the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coveragePremises.

Appears in 1 contract

Samples: Lease Agreement (Exigent International Inc)

Damage to Demised Premises. 11.1 In If the event that Building or the Demised ------------- -------------------------- Premises are totally destroyed, rendered partially or so damaged wholly untenantable by fire or other casualty not occurring through casualty, Landlord shall promptly, using the fault or negligence of Tenantinsurance proceeds as provided below, its employees, agents or business invitees, that the same, in the opinion of Landlord, cannot cause such damage to be repaired and restored within a period of six (6) months, this Lease all Minimum Base Rent payable hereunder shall absolutely cease and terminate and the Rent shall be apportioned as of the date of the casualty and xxxxx for the balance of the term. Landlord shall serve notice upon Tenant within thirty (30) days after the casualty proportionately as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month period. 11.2 If the damage, caused as above, be only partial or such that the Demised Premises can, in the opinion of the Landlord, be restored to their present condition within a period of six (6) months, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Building, even though the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable until the completion of such repairs. If the Building or the Demised Premises are damaged such that they cannot be repaired or rebuilt within one hundred eighty (180) days from the date of such damage, then either Landlord or Tenant may terminate this Lease. In the event either Landlord or Tenant exercised this election to terminate, they must do so within thirty (30) days of the date of such damage. In the event this Lease is not terminated, then Landlord shall commence such repairs within thirty (30 days of the expiration of the above thirty (30) days and complete the duration same as soon as possible, considering extent of Landlord's clauserepairs and weather. In the event any such repairs have not been completed within one hundred eighty (180) days of such damage, Tenant agrees may terminate this Lease. Any insurance which may be carried by Landlord or Tenant against loss or damage to pay the full amount claimed Building or the Demised Premises shall be pro-rated based upon the respective values of (i) the Building and any other improvements, alterations or additions paid for by Landlord. Tenant shall, and (ii) any improvements, alterations or additions paid for by Tenant; provided, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In the event the Landlord undertakes to make rebuilds or repairs to or restore the Demised Premises, Landlord shall not be obligated to restore or replace property owned by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement use all, or reduction the amounts needed, of the Rentinsurance proceeds for the costs of such rebuilding or repairing. If the insurance proceeds are not sufficient, any additional amounts required shall be paid by Landlord. If the Lease is terminated, all casualty insurance proceeds pertaining to the Building shall be payable to Landlord. 11.5 In no event shall Landlord have any obligation to repair or restore the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverage.

Appears in 1 contract

Samples: Lease (Delco Remy International Inc)

Damage to Demised Premises. 11.1 In If during the event that term hereof the Demised Premises are totally destroyed, or so the Building shall be destroyed or damaged by fire fire, lightning, storm or tempest, act of God or other casualty not occurring through the fault or negligence of Tenant, its employees, agents or business invitees, that the same, in the opinion of Landlord, cannot be repaired and restored within a period of six (6) months, this Lease shall absolutely cease and terminate and the Rent shall be apportioned accident so as of the date of the casualty and xxxxx for the balance of the term. Landlord shall serve notice upon Tenant within thirty (30) days after the casualty as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month period. 11.2 If the damage, caused as above, be only partial or such that the Demised Premises can, in the opinion of the LandlordUniversity, be restored to their present condition within a period of six (6) monthsacting reasonably, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Building, even though the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account the any portion of the Demised Premises rendered untenantable which portion constitutes in excess of fifty (50%) per cent in total of the area of the Demised Premises unfit for occupancy and incapable of being repaired within ninety (90) days of the happening of such damage, the term hereby granted shall at the option of the University cease and be at an end to all intents and purposes from the date of such damage or destruction and the duration Tenant shall immediately surrender and yield up possession of Landlord's clause, Tenant agrees the Demised Premises to pay the full amount claimed by LandlordUniversity. Tenant shallIf, however, have such portions of the right Demised Premises shall in the opinion of the University, acting reasonably, be capable of being repaired and rendered fit for occupancy by the Tenant within ninety (90) days from the happening of such damage or the portion constitutes less than fifty 50%) per cent in total area of the Demised Premises or neither the University nor the Tenant terminates the term as otherwise entitled above, this Lease and the term shall continue, but the amounts payable for Annual Rent shall cease and determine until such time as the Demised Premises are rebuilt and made fit for the purposes of the Tenant, provided that to proceed the extent such damage or destruction prevents use and occupancy by law the Tenant of part only of the Demised Premises then the Annual Rent shall xxxxx proportionately only until such time or times as various portions of the Demised Premises are rebuilt and made fit for the purposes of the Tenant having regard to recover the excess payment, if any. 11.3 portions of the Demised Premises which are so unusable by the Tenant. In the event situations contemplated in the Landlord undertakes preceding portions of this Section in which the Lease is not terminated, the University shall proceed forthwith and diligently to make effect any necessary repairs and rebuilding to or restore the Building and the Demised PremisesPremises provided that the University shall not, Landlord shall not except as otherwise required pursuant to Section 6.5(c), be obligated to restore responsible for the rebuilding or replace property owned by Tenant including but not limited torestoration of any alterations, furnitureimprovements, fixtures, improvementspartitions, inventorymaterials, equipment, etcequipment or furnishings made or installed by or for the Tenant. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction of the Rent. 11.5 In no event shall Landlord have any obligation to repair or restore the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverage.

Appears in 1 contract

Samples: Sublease Agreement (Altarex Corp)

Damage to Demised Premises. 11.1 a. In the event that the Demised Premises are is totally destroyed, destroyed or so damaged by fire or other casualty not occurring through the fault or negligence of Tenantthe Tenant or those employed by or acting for it, its employees, agents or business invitees, that the samethat, in Landlord’s judgment which judgment shall be determined within forty five (45) days from the opinion of Landlordcasualty date, the same cannot be repaired and or restored within a period of six three hundred sixty-five (6365) monthsdays, this Lease shall absolutely cease and terminate cease, and the Rent rent shall be apportioned xxxxx as of the date of the casualty and xxxxx for the balance of the term. Landlord shall serve notice upon Tenant within thirty (30) days after the casualty as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month period. 11.2 b. If the damage, damage caused as above, above be only partial or and such that the Demised Premises canPremises, in the opinion of the Landlord’s judgment, can be restored to their present condition within a the time period of six (6) monthsand under the conditions as provided in Subsection 12 above, the Landlord agrees may, at its option, restore the same with reasonable promptness to restore the samepromptness, reserving and shall give Tenant 24 hours’ prior notice and Tenant shall have the right to enter upon the Demised Premises for that purposeescort same during such times, if Tenant so desires. The Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Buildingthe building of which the Demised Premises is a part, even though the effect of such entry would be to may render the demised premise Demised Premises or a part thereof untenantable. In either event, event the Rent rent shall be apportioned and/or and suspended during the time the Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of the Landlord's clause’s possession. If Landlord elects to repair damage to the Demised Premises and it is unusable or inaccessible to Tenant in the ordinary conduct of its business until the damage is repaired, Tenant’s Base Rent and Operating Expenses and shall be abated in proportion to the amount of the Demised Premises which is unusable or inaccessible to Tenant agrees to pay in the full amount claimed by Landlord. Tenant shall, however, have ordinary conduct of its business until the right to proceed by law to recover the excess payment, if anyrepairs are completed. 11.3 In the event the c. If Landlord undertakes elects not to make repairs to or restore repair the Demised Premises, Landlord shall notify Tenant within ten (10) days of such decision of its election not be obligated to restore or replace property owned repair the Demised Premises and Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days from the day Landlord notified Tenant including but of Landlord’s election not limited to, furniture, fixtures, improvements, inventory, equipment, etcto repair the Demised Premises. 11.4 If such d. Notwithstanding the fact that Landlord may have elected to repair the Demised Premises within said forty-five (45) day period, if the mortgagee chooses to accelerate the mortgage due to damage resulted from by fire or other casualty to the act Demised Premises or omission the building of which the Demised Premises is a part, Landlord shall have the right to rescind and/or cancel said election to repair and shall have the right to elect not to repair the damage to the Demised Premises, provided said notification of election not to repair is given to Tenant or Tenant's employees, agents or business invitees, Tenant within forty-five (45) days after date of the receipt of said notice of acceleration e. Landlord shall not be entitled to liable for any abatement damage, compensation or reduction claim by reason of inconvenience or annoyance arising from the necessity of repairing any portion of the Rent. 11.5 In no event shall Landlord have any obligation to repair building, the interruption in the use of the Demised Premises, or restore the termination of this Lease by reason of the destruction of the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverageunless such damage or loss was caused by Landlord’s negligence or willful misconduct.

Appears in 1 contract

Samples: Lease Agreement (Oakridge Global Energy Solutions, Inc.)

Damage to Demised Premises. 11.1 In If, at any time during the event that term of this Lease, the Demised Premises are totally destroyed, is destroyed or so damaged in whole or in part by fire or other casualty not occurring through cause within the fault or negligence of Tenant, its employees, agents or business invitees, that the same, in the opinion of Landlord, cannot be repaired and restored within a period of six (6) months, this Lease shall absolutely cease and terminate and the Rent shall be apportioned as of the date extended coverage of the casualty and xxxxx for the balance of the term. Landlord shall serve notice upon insurance policies required to be carried by Tenant within thirty (30) days after the casualty as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month period. 11.2 If the damage, caused as above, be only partial or such that the Demised Premises can, in the opinion of the Landlord, be restored to their present condition within a period of six (6) months, Landlord agrees accordance with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Building, even though the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of Landlord's clausethis Lease, Tenant agrees shall cause the same to pay the full amount claimed be repaired, replaced or rebuilt within twelve (12) months after receipt by LandlordTenant of insurance proceeds payable under such casualty insurance policies. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In the event the Landlord undertakes to make repairs to or restore the Demised Premises, Landlord Tenant’s rebuilding obligations shall not be obligated reduced by any shortfall in receipt of insurance proceeds or any failure to restore or replace property owned by receive insurance proceeds as a result of said casualty. Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from shall bear the act or omission risk of Tenant or Tenant's employees, agents or business invitees, uninsured casualties and of under-insurance. Tenant shall not be entitled to any reduction or abatement or reduction of rent as a result of any casualty. Notwithstanding the Rent. 11.5 In no event shall Landlord have any obligation to repair or restore foregoing, if the Demised Premises if are destroyed or damaged at any time during the cost thereof shall exceed last three (3) years of the proceeds term of this Lease (including the last three [3] years of any applicable exercised Option Period) to the extent that, in Tenant’s reasonable discretion, the Demised Premises are not usable in their damaged condition for the normal conduct of Tenant’s business, then Tenant may, upon written notice to Landlord, elect to terminate this Lease. In such event, Tenant shall bear the risk of uninsured casualties and of under-insurance, and shall place the Demised Premises in a safe condition and pay to Landlord all insurance coverageproceeds received by Tenant plus the amount of any deductible carried by Tenant and any other amount necessary to equal the entire sum necessary to rebuild the Demised Premises (but excluding any ancillary insurance proceeds unrelated to the costs of rebuilding the Demised Premises). Such termination shall be effective on the date stated in Tenant's notice to Landlord and neither Landlord nor Tenant shall have any further obligations hereunder after such date, and Tenant’s obligation to pay rent shall likewise cease.

Appears in 1 contract

Samples: Lease

Damage to Demised Premises. 11.1 In the event that a fire, explosion or other casualty (collectively, "Casualty") destroys the Demised demised premises or the building in which the demised premises (collectively "Premises") are located or in the event of a Casualty which partially destroys the Premises are totally destroyedso as to render the demised premises wholly untenantable or unfit for occupancy, or should the demised premises be so damaged by fire or other casualty not occurring through the fault or negligence of Tenant, its employees, agents or business invitees, a Casualty so that the same, in the opinion of Landlord, demised premises cannot be repaired and restored within a period thirty days from the occurrence of six (6) monthssuch Casualty, then, at the option of the Landlord or Tenant, the term of this Lease shall absolutely cease and terminate become null and the Rent shall be apportioned as of void from the date of the casualty Casualty. If the Landlord so exercises said option to terminate this Lease, then the Tenant shall immediately surrender the demised premises and xxxxx for all the balance of Tenant's interest therein to the termLandlord. Landlord The Tenant shall serve notice upon only be obligated to pay any rent due hereunder up to and including the date the Tenant within thirty (30) days after so surrenders the casualty as to whether demised premises. In the Demised Premises event the demised premises are damaged by a Casualty so that said demised premises can and will in fact be repaired and restored made fit for occupancy within thirty days from the six (6) month period. 11.2 If the damage, caused as above, be only partial or such that the Demised Premises can, in the opinion of the Landlord, be restored to their present condition within a period of six (6) months, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Building, even though the effect occurrence of such entry would Casualty, the Landlord may enter and repair the demised premises, and any rent hereunder shall be abated only while the Landlord is making said repairs and the demised premises are wholly untenantable. In the event the demised premises are damaged by a Casualty but not so at to render the demised premise premises wholly untenantable and unfit for occupancy, then the Landlord agrees to repair the same within a reasonable period of time and the rent accrued and accruing shall not cease or a part thereof untenantable. In either event, the Rent terminate and shall be apportioned and/or suspended during abated with respect to the time Landlord is in possession, taking into account the portion purchase of the Demised Premises rendered untenantable and premises which are untenable. The Tenant shall immediately notify the duration of Landlord's clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In Landlord in the event the Landlord undertakes to make repairs to or restore the Demised Premises, Landlord shall not be obligated to restore or replace property owned by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction of the Rentoccurrence of a Casualty or any other damage to the Premises. 11.5 In no event shall Landlord have any obligation to repair or restore the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverage.

Appears in 1 contract

Samples: Lease Agreement (Houston Operating Co)

Damage to Demised Premises. 11.1 (a) In the event that the Demised Premises are is totally destroyed, destroyed or so damaged by fire or other casualty not occurring through the fault or negligence of Tenantthe Tenant or those employed by or acting for him, its employees, agents or business invitees, that the samethat, in Landlord's judgment, the opinion of Landlord, same cannot be repaired and or restored within a period of six one hundred eighty (6180) monthsdays, this Lease shall absolutely cease and terminate determine, and the Rent rent shall be apportioned abate as of the date of the casualty and xxxxx for the balance of the term. Landlord If Xxxdlord cannot locate alternate space for Tenant to continue operation during the course of the repairs, then Tenant shall serve notice upon Tenant have the right to terminate this Lease within thirty (30) days after the casualty as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month perioddays. 11.2 (b) If the damage, damage caused as above, above be only partial or and such that the Demised Premises canPremises, in the opinion of the Landlord's judgment, can be restored to their present condition within a the time period of six and under the conditions as provided in Subparagraph 13(a) above, the Landlord may, at its option, restore the same (6excluding fixtures and improvements owned by Tenant) months, Landlord agrees with reasonable promptness to restore the samepromptness, reserving the right to enter cater upon the Demised Premises for that purpose. The Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Buildingthe building of which the Demised Premises is a part, even though the effect of such entry would be to render the demised premise Demised Premises or a part thereof untenantable. In either event, event the Rent rent shall be apportioned and/or and suspended during the time the Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of the Landlord's possession. If a dispute arises as the amount of rent due under this clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In (c) Landlord shall make such election to repair the event Demised Premises or terminate this Lease by giving notice thereof to Tenant within thirty (30) days from the day Landlord undertakes received notice that the Demised Premises had been destroyed or damaged by fire or other casualty. (d) Notwithstanding the fact that Landlord may have elected to make repairs repair the Demised Premises within said thirty (30) day period, if the mortgagee chooses to accelerate the mortgage due to damage by fire or restore other casualty to the Demised Premises or the building of which the Demised Premises is a part, Landlord shall have the right to rescind and/or cancel said election to repair and shall have the right to elect not to repair the damaged to the Demised Premises or the building of which the Demised Premises is a part, provided said notification of election not to repair is given to Tenant within thirty (30) days after date of the receipt of said notice of acceleration. (e) Landlord shall not be liable for any damage, compensation or claim by reason of inconvenience or annoyance arising from the necessity of repairing any portion of the building, the interruption in the use of the Demised Premises, Landlord shall not be obligated to restore or replace property owned the termination of this Lease by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction reason of the Rent. 11.5 In no event shall Landlord have any obligation to repair or restore destruction of the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coveragePremises.

Appears in 1 contract

Samples: Lease Agreement (Exigent International Inc)

Damage to Demised Premises. 11.1 In the event that the Demised Premises are partially or totally destroyed, or so damaged destroyed by fire or other casualty casualty, which is not occurring through the fault or negligence of Tenant, its employees, agents or business invitees, that the same, in the opinion of Landlord, cannot be repaired and restored within a period of six (6) months, this Lease shall absolutely cease and terminate and the Rent shall be apportioned as of the date of the casualty and xxxxx for the balance of the term. Landlord shall serve notice upon Tenant within thirty (30) days after the casualty as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month period. 11.2 If the damage, caused as above, be only partial or such that the Demised Premises can, in the opinion of the Landlord, be restored to their present condition within a period of six (6) months, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire the negligent or other casualty to Tenant's Building, even though the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of Landlord's clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In the event the Landlord undertakes to make repairs to or restore the Demised Premises, Landlord shall not be obligated to restore or replace property owned by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission willful actions of Tenant or Tenant's employees, agents or business invitees, Landlord and Tenant shall not be entitled have the option either to any abatement rebuild and repair the Demised Premises or reduction to terminate this Lease as hereinafter provided. (Partial destruction for these purposes shall mean that Tenant is unable to reasonably carry on its operations from the Demised Premises.) Either party shall give notice in writing to the other of the Rent. 11.5 In no event shall Landlord have any obligation election to rebuild and repair or to terminate this Lease, as the case may be, within forty-five (45) days of the happening of the event of destruction or damage. In the event Landlord elects to rebuild and restore the Demised Premises, and Tenant does not remain in possession and operate Tenant's business during the period of rebuilding and repair, the Minimum Annual Rental shall abatx (xxless the casualty is a result of vandalism or burglary) based upon the portion of the Demised Premises until the Demised Premises have been rebuilt and repaired. If Tenant remains in possession and operated Tenant's business during the period of rebuilding and repair, the Minimum Annual Rental shall ablate (unless the casualty is a result of vandalism or burglary) based upon the loss of business, if any, resulting from such destruction during the period of building and repair, using a base figure, the gross sales of Tenant and of all licensees, concessionaires and tenants of Tenant, from all business conducted upon or from the Demised Premises, for the same period for the year immediately prior to the year, in which the casualty occurs, provided, however, (a) if the cost thereof casualty shall exceed occur during the proceeds first six (6) months of any applicable insurance coveragethe Demised Term, the Minimum Annual Rental shall abatx xxxpletely (unless the casualty is a result of vandalism or burglary) until Landlord rebuilds and repairs the Demised Premises, and (b) if the casualty shall occur during the period beginning on the first day of the seventh month and ending the last day of the twelth month of the first year of the Demised Term, the Minimum Annual Rental shall abatx (xxless the casualty is a result of vandalism or burglary) based upon the loss of business, if any, resulting from such destruction during the period of rebuilding and repair using as a base figure, the average of the monthly gross sales of Tenant and of all licensees, concessionaires and tenants or Tenant, from all business conducted upon or from the Demised Premises, for the period beginning on the first day of the first calendar month of the Demised Term and ending on the last day of the calendar month of the Demised Term occurring immediately prior to the casualty. In the event Landlord elects to rebuild and repair, Landlord shall proceed with the same as soon as practical and in all events such rebuilding and repair shall be completed within one hundred eighty (180) days after notice has been given of Landxxxx'x xntent to rebuild and repair, subject only to delays beyond Landlord's reasonable control.

Appears in 1 contract

Samples: Lease Agreement (Ameritrade Holding Corp)

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Damage to Demised Premises. 11.1 (a) In the event that the Demised Premises Improvements are totally completely destroyed, or so are damaged by fire in excess of fifty-one percent (51%) of the value thereof due to any cause whatsoever, Lessee shall have the following options: (i) Within ninety (90) days of such destruction or other casualty not occurring through damage, or such later time if permits are required for the fault reconstruction, Lessee shall commence and diligently pursue to completion the repair, restoration or negligence replacement of Tenantthe damaged or destroyed Demised Premises and Improvements, its employees, agents or business invitees, that the same, in the opinion of Landlord, cannot be repaired and restored within a period of six (6) months, this Lease shall absolutely cease remain in full force and effect, with Basic Rent abated until such time as the Demised Premises has been repaired, restored, or replaced; or (ii) Lessee shall terminate and this Lease on ninety (90) days prior notice to Lessor. If Lessee elects to terminate this Lease, all insurance proceeds on the Rent policies required hereunder shall be apportioned as paid to Lessor with no obligation to rebuild the Improvements or otherwise restore the Demised Premises to the pre-destruction condition. If Lessee elects this option, the Lease will terminate on the date in the notice of termination which shall be no later than sixty (60) days after the date of the casualty notice and xxxxx for the balance of the termLease will terminate effective on such date. Landlord shall serve notice upon Tenant within thirty (30) days after the casualty as Lessee will be responsible prior to whether such date to remove any Furniture, Fixtures and Equipment, inventory and proprietary items that remain in the Demised Premises can and will in fact be repaired and restored within the six (6) month periodPremises. 11.2 If the damage, caused as above, be only partial or such that the Demised Premises can, in the opinion of the Landlord, be restored to their present condition within a period of six (6b) months, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Building, even though the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of Landlord's clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In the event that damage to the Landlord undertakes Improvements, due to make repairs to or restore any cause whatsoever, is less than fifty-one percent (51%) percent, the Demised PremisesLessee shall, Landlord shall not be obligated to at its own expense, repair, restore or replace property owned by Tenant including but not limited tothe damaged Improvements with due diligence, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission and this Lease shall continue in full force and effect with no abatement of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction of the Basic Rent. 11.5 In no event shall Landlord have any obligation to repair or restore the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverage.

Appears in 1 contract

Samples: Lease Agreement (LIVE VENTURES Inc)

Damage to Demised Premises. 11.1 In the event that the Demised Premises are is partially or totally destroyeddestroyed by fire or other casualty, then, subject to the following terms of this Article, Landlord shall repair or so damaged restore the same to substantially the same condition as existed prior to such fire or other casualty. Notwithstanding the foregoing provision, in the event the Demised Premises or any portion of the Building is partially or totally destroyed by fire or other casualty not occurring through and such damage will cost in excess of Two Hundred Thousand Dollars ($200,000.00) to repair or restore, Landlord in its sole discretion shall have the fault option to either rebuild and repair the Demised Premises or negligence damaged portion of Tenant, its employees, agents the Building or business invitees, that the same, in the opinion of Landlord, cannot be repaired and restored within a period of six (6) months, to terminate this Lease shall absolutely cease and terminate and unless Tenant elects to make the Rent shall be apportioned as of the date of the casualty and xxxxx for the balance of the termneeded repairs at its expense. Landlord shall serve give notice upon in writing to Tenant of Landlord's election to rebuild and repair or to terminate this Lease, as the case may be, within thirty (30) days after of the happening of the event of destruction or damage ("Landlord's Casualty Election"). Landlord shall use all commercially reasonable efforts to provide temporary premises, in another building owned or run by Landlord and, if reasonably possible, located within a radius of 5 miles of the Demised Premises, for Tenant following a casualty loss unless Xxxxxxxx has elected to terminate the Lease as permitted above; provided, however, that Landlord shall have no obligation to whether provide temporary premises for Tenant if the period in which the Demised Premises can and will in fact be repaired and restored within the six are unavailable for Tenant's use is ten (610) month period. 11.2 days or less. If the damage, caused as above, be only partial or such that the Demised Premises canis rendered partially or wholly untenable from fire or other casualty, in and if Landlord does not provide temporary premises as required above, or if the opinion temporary premises offered to Tenant is outside of the 5 mile radius of the Demised Premises, Tenant shall have the option to terminate the Lease, so long as Tenant provides written notice to Landlord of Tenant's exercise of the option to terminate within thirty (30) days of receipt of Landlord, be restored 's Casualty Election. In the event Landlord elects to their present condition within a period of six (6) monthsrebuild and repair and Tenant does not exercise its option to terminate this Lease, Landlord agrees shall proceed with the same as soon as practical and in all events shall use commercially reasonable promptness efforts to restore cause such rebuilding and repair to be completed to substantially the same, reserving the right same condition as existed prior to enter upon such destruction as soon as is reasonably possible. If the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by is rendered partially or wholly untenable from fire or other casualty to Tenant's Buildingcasualty, even though then the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Base Rent and any additional rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account abated proportionately as to the portion of the Demised Premises rendered untenantable and the duration of Landlord's clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In the event the Landlord undertakes to make repairs to or restore the Demised Premises, Landlord shall not be obligated to restore or replace property owned by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction of the Rent. 11.5 In no event shall Landlord have any obligation to repair or restore untenable until the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverageis repaired or this Lease is terminated as set forth in this Article IX.

Appears in 1 contract

Samples: Lease Agreement

Damage to Demised Premises. 11.1 (a) In the event that the Demised Premises are is totally destroyed, destroyed or so damaged by fire or other casualty not occurring through the fault or negligence of Tenantthe Tenant or those employed by or acting for him, its employees, agents or business invitees, that the samethat, in Landlord's judgment, the opinion of Landlord, same cannot be repaired and or restored within a period of six one hundred eighty (6180) monthsdays, this Lease shall absolutely cease and terminate determine, and the Rent rent shall be apportioned xxxxx as of the date of the casualty and xxxxx for the balance of the term. Landlord shall serve notice upon Tenant within thirty (30) days after the casualty as to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month period. 11.2 (b) If the damage, damage caused as above, above be only partial or and such that the Demised Premises canPremises, in the opinion of the Landlord's judgment, can be restored to their present condition within a period of six one hundred eighty (6180) monthsdays, the Landlord agrees with reasonable promptness to may, at its option, restore the same, excluding fixtures and improvements owned by Tenant, with reasonable promptness, reserving the right to enter upon the Demised Premises for that purpose. The Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Buildingthe building of which the Demised Premises is a part, even though the effect of such entry would be to render the demised premise Demised Premises or a part thereof untenantable. In either event, event the Rent rent shall be apportioned and/or and suspended during the time the Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of the Landlord's possession. If a dispute arises as to the amount of rent due under this clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 (c) In the event that Landlord does not notify Tenant that in the Landlord's judgement, the damage cannot be repaired within 180 days, or in the event that Landlord undertakes fails to make repairs notify Tenant if Landlord exercises its election to repair the damage within 180 days, then Tenant shall have the right to give notice to Landlord, after the expiration of 30 days from the date of damage, that unless Landlord advises Tenant within 10 days after receipt of such notice that Landlord intends to complete the repair of the damage to the Demised Premises within 180 days from the date of the damage, it shall be deemed conclusive that Landlord has elected not to complete said repairs, and the Tenant may elect to terminate the Lease, commencing the 11th day after such notice, at any time prior to the receipt of notice from Landlord of its election to repair the damage to the Demised Premises. (d) Notwithstanding the fact that Landlord may have given notice of election to repair the Demised Premises within said thirty (30) day period, if the mortgagee chooses to accelerate the mortgage due to damage by fire or restore other casualty to the Demised Premises or the building of which the Demised Premises is a part, Landlord shall have the right to rescind and/or cancel said election to repair and shall have the right to elect not to repair the damaged to the Demised Premises or the building of which the Demised Premises is a part, provided said notification of election not to repair is given to Tenant within thirty (30) days after date of the receipt of said notice of acceleration. (e) Landlord shall not be liable for any damage, compensation or claim by reason of inconvenience or annoyance arising from the necessity of repairing any portion of the building, the interruption in the use of the Demised Premises, Landlord shall not be obligated to restore or replace property owned the termination of this Lease by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement or reduction reason of the Rent. 11.5 In no event shall Landlord have any obligation to repair or restore destruction of the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coveragePremises.

Appears in 1 contract

Samples: Lease Agreement (Britesmile Inc)

Damage to Demised Premises. 11.1 In the event that the Demised Premises are is partially or totally destroyeddestroyed by fire or other casualty, then, subject to the following terms of this Article, Landlord shall repair or so damaged restore the same to substantially the same condition as existed prior to such fire or other casualty. Notwithstanding the foregoing provision, in the event the Demised Premises or any portion of the Building is partially or totally destroyed by fire or other casualty not occurring through and such damage will cost in excess of Two Hundred Thousand Dollars ($200,000) to repair or restore, Landlord in its sole discretion shall have the fault option to either rebuild and repair the Demised Premises or negligence of Tenant, its employees, agents or business invitees, that the same, in the opinion of Landlord, cannot be repaired and restored within a period of six (6) months, this Lease shall absolutely cease and terminate and the Rent shall be apportioned as damaged portion of the date of the casualty and xxxxx for the balance of the termBuilding or to terminate this Lease. Landlord shall serve give notice upon in writing to Tenant of Landlord's election to rebuild and repair or to terminate this Lease, as the case may be, within thirty (30) days after of the casualty as happening of the event of destruction or damage ("Landlord's Casualty Election"). Landlord shall use all commercially reasonable efforts to whether the Demised Premises can and will in fact be repaired and restored within the six (6) month period. 11.2 If the damage, caused as above, be only partial or such that the Demised Premises canprovide temporary premises, in the opinion of the Landlordanother school owned or run by Landlord and, be restored to their present condition if reasonably possible, located within a period radius of six (6) months, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Building, even though the effect 5 miles of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of Landlord's clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In the event the Landlord undertakes to make repairs to or restore the Demised Premises, for Tenant following a casualty loss unless Landlord has elected to terminate the Lease as permitted above; provided, however, that Landlord shall not be obligated have no obligation to restore or replace property owned by provide temporary premises for Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from if the act or omission of Tenant or period in which the Demised Premises are unavailable for Tenant's employeesuse is ten (10) days or less. If the Demised Premises is rendered partially or wholly untenable from fire or other casualty, agents and if Landlord does not provide temporary premises as required above, or business inviteesif the temporary premises offered to Tenant is outside of the 5 mile radius of the Demised Premises, Tenant shall not be entitled have the option to any abatement or reduction terminate the Lease, so long as Tenant provides written notice to Landlord of Tenant's exercise of the Rent. 11.5 In no event shall Landlord have any obligation option to repair or restore the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverage.terminate within thirty

Appears in 1 contract

Samples: Lease

Damage to Demised Premises. 11.1 In If the event that Building or the Demised ------------- -------------------------- Premises are rendered partially or wholly untenantable by fire or other casualty, Landlord shall promptly, using the insurance proceeds as provided below, cause such damage to be repaired and all Minimum Base Rent payable hereunder shall abate proportionately as to the portion of the Demised Premises renderxx xxtenantable until the completion of such repairs. If the Building or the Demised Premises are totally destroyed, or so damaged by fire or other casualty not occurring through the fault or negligence of Tenant, its employees, agents or business invitees, such that the same, in the opinion of Landlord, they cannot be repaired and restored or rebuilt within a period of six one hundred eighty (6180) months, this Lease shall absolutely cease and terminate and the Rent shall be apportioned as of days from the date of such damage, then either Landlord or Tenant may terminate this Lease. In the casualty and xxxxx for the balance of the term. event either Landlord shall serve notice upon or Tenant exercises this election to terminate, they must do so within thirty (30) days after of the casualty date of such damage. In the event this Lease is not terminated, then Landlord shall commence such repairs within thirty (30) days of the expiration of the above thirty (30) days and complete the same as soon as possible, considering extent of repairs and weather. In the event any such repairs have not been completed within one hundred eighty (180) days of such damage, Tenant may terminate this Lease. Any insurance which may be carried by Landlord or Tenant against loss or damage to whether the Building or the Demised Premises can shall be pro-rated based upon the respective values of (i) the Building and will in fact be repaired and restored within the six (6) month period. 11.2 If the damageany other improvements, caused as above, be only partial alterations or such that the Demised Premises can, in the opinion of the additions paid for by Landlord, be restored to their present condition within a period of six and (6ii) monthsany improvements, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the Demised Premises alterations or additions paid for that purpose. Landlord also reserves the right to enter upon the Demised Premises whenever necessary to repair damage caused by fire or other casualty to Tenant's Building, even though the effect of such entry would be to render the demised premise or a part thereof untenantable. In either event, the Rent shall be apportioned and/or suspended during the time Landlord is in possession, taking into account the portion of the Demised Premises rendered untenantable and the duration of Landlord's clause, Tenant agrees to pay the full amount claimed by Landlord. Tenant shall; provided, however, have the right to proceed by law to recover the excess payment, if any. 11.3 In the event the Landlord undertakes to make rebuilds or repairs to or restore the Demised Premises, Landlord shall not be obligated to restore or replace property owned by Tenant including but not limited to, furniture, fixtures, improvements, inventory, equipment, etc. 11.4 If such damage resulted from the act or omission of Tenant or Tenant's employees, agents or business invitees, Tenant shall not be entitled to any abatement use all, or reduction the amounts needed, of the Rentinsurance proceeds for the costs of such rebuilding or repairing. If the insurance proceeds are not sufficient, any additional amounts required shall be paid by Landlord. If the Lease is terminated, all casualty insurance proceeds pertaining to the Building shall be payable to Landlord. 11.5 In no event shall Landlord have any obligation to repair or restore the Demised Premises if the cost thereof shall exceed the proceeds of any applicable insurance coverage.

Appears in 1 contract

Samples: Lease (Delco Remy International Inc)

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