Common use of DAMAGE TO OR DESTRUCTION OF PREMISES Clause in Contracts

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, during the Term, the Premises or any other portion of the Building (including, without limitation, the rooftop) is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, or other casualty (collectively, a “Casualty”) so that the Premises are rendered wholly or substantially unfit for occupancy or unsuitable for the conduct of the Business, such that the Premises cannot be repaired within one hundred eighty (180) days from the time of such damage, then this Lease, at the option of the Landlord or Tenant, may be terminated as of the date of such damage. Landlord shall give Tenant written notice within thirty (30) days of the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will elect to terminate this Lease or repair or rebuild the Premises. Should Landlord notify Tenant that the damages cannot be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option within sixty (60) days after such Casualty, may terminate this Lease upon written notice to Tenant. In the event that either Landlord or Tenant elects to terminate this Lease, then Tenant shall pay the Rent apportioned to the time of damage, and Tenant shall immediately surrender the Premises on the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereof, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and this Lease shall not be affected in any manner, except that the Rent shall be suspended from the date of such damage until the earlier of thirty (30) days from the date Landlord delivers the Premises to Tenant for the purpose of Tenant making tenant improvements thereto or the date the Premises are substantially ready for occupancy by Tenant.

Appears in 2 contracts

Samples: Letter Agreement (Westwood One Inc /De/), Westwood One Inc /De/

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DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, during the Termterm of this Sublease, the Subleased Premises or any other portion of the Building (including, without limitation, the rooftop) is are damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, or other casualty (collectively, a “Casualty”) so that the Premises same are rendered wholly or substantially unfit for occupancy or unsuitable occupancy, Sublessor shall promptly notify Sublessee whether the Subleased Premises can be repaired to be fully fit for the conduct of the Business, such that the Sublessee's occupancy. If pursuant to said notice said Subleased Premises cannot be repaired within one hundred eighty sixty (18060) days from the time of such damage, then this LeaseSublease, at the option of the Landlord Sublessor or TenantSublessee, may be terminated as of the date of such damage. Landlord damage and any insurance proceeds under Section 9(a) of this Sublease agreement shall give Tenant written notice within thirty (30) days of the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will elect paid to terminate this Lease or repair or rebuild the Premises. Should Landlord notify Tenant that the damages cannot be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this LeaseSublessor. Likewise if a substantial portion of the Building Premises (but not a substantial portion of the Subleased Premises) is are so damaged such that Landlord Sublessor determines that it will not repair such damages, and/or restore the Buildingpremises, then Landlord Sublessor at its sole option within sixty (60) days after such Casualty, may terminate this Lease upon written notice Sublease as of the date of last occupancy by Sublessee and any insurance proceeds under Section 9(a) shall be payable to TenantSublessor. In the event that either Landlord Sublessor or Tenant Sublessee elects to terminate this Leasethe Sublease, then Tenant the Sublessee shall pay the Rent rent apportioned to the time of damage, damage and Tenant shall immediately surrender the Subleased Premises on the effective date of the termination of this Lease to Landlord Sublessor who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminatesame. If neither the Lease is not terminated pursuant Sublessor or the Sublessee elects to terminate the terms hereofSublease, Landlord shall Sublessor agrees to repair or replace as required such damage to the Premises and the Subleased Premises (but not to any tenant Sublessee improvements made by Tenant) Sublessee to the extent it receives insurance proceeds), and this Lease Sublease shall not be affected in any manner, manner except that the Rent rent shall be suspended and shall not accrue from the date of such damage until such repairs have been completed. If said Subleased Premises shall be so slightly damaged by any of the above casualties as not to be rendered unfit for occupancy to any substantial extent and the same shall be repairable within sixty (60) days from the time of such damage, Sublessor shall repair the Subleased Premises (but not Sublessee improvements made by Sublessee) to the extent it receives insurance proceeds, and during the period from the date of such damage until the earlier repairs are completed the rent shall be apportioned so that Sublessee shall pay as rent an amount which bears the same ratio to the entire monthly rent as the portion of thirty (30) days from the date Landlord delivers Subleased Premises which Sublessee is able to occupy without disturbance during such period bears to the Premises to Tenant for entire Premises. If the purpose damage by any of Tenant making tenant improvements thereto the above casualties is so slight that Sublessee is not disturbed in its possession and enjoyment of the Subleased Premises, then Sublessor shall repair the same promptly and in that case the rent accrued or the date the Premises are substantially ready for occupancy by Tenantaccruing shall not xxxxx.

Appears in 2 contracts

Samples: Sublease (Mastech Corp), Sublease (Mastech Corp)

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, during the Lease Term, there is an insured partial destruction of the Premises of less than fifty (50%) percent of their actual replacement cost at the time of destruction, and if at least six (6) months remain of the Lease Term, then Landlord shall forthwith repair the Premises unless prohibited by law, regulation, or ordinance. If Landlord repairs the Premises, then the destruction shall not terminate this Lease or reduce Tenant’s obligations hereunder except that Tenant shall be entitled to a proportionate reduction of Base Rent and Additional Rent while the Premises are unusable by reason of the destruction. If, during the Lease Term, there is an insured total destruction of the Premises, or an insured partial destruction of fifty (50%) percent or more of their actual replacement cost at the time of destruction, or if repairs cannot be made under then-existing laws, regulations, and ordinances, then Landlord may elect either to repair the Premises or any other portion of to terminate the Building (including, without limitation, the rooftop) is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, or other casualty (collectively, a “Casualty”) so that the Premises are rendered wholly or substantially unfit for occupancy or unsuitable for the conduct of the Business, such that the Premises cannot be repaired within one hundred eighty (180) days from the time of such damage, then this Lease, at the option of the Landlord or Tenant, may be terminated Lease as of the date of such damagethe destruction. If Landlord shall give Tenant written notice does not elect within thirty (30) days of after the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will destruction to promptly repair the Premises, then Tenant may elect to terminate this the Lease or repair or rebuild by notifying Landlord of Tenant’s election to terminate. If, during the Premises. Should Landlord notify Tenant that the damages cannot be repaired within one hundred eighty last six (1806) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion months of the Building (but not a substantial portion Lease Term, there is an insured partial destruction of the PremisesPremises of less than fifty (50%) is so damaged such that Landlord determines that it will not repair such damages, and/or restore percent of their actual replacement cost at the Buildingtime of destruction, then Landlord at its sole option shall within sixty (60) days after such Casualty, may terminate this Lease upon written notice to Tenant. In the event that either Landlord or Tenant elects to terminate this Lease, then Tenant shall pay the Rent apportioned to the time of damage, and Tenant shall immediately surrender the Premises on the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereof, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and this Lease shall not be affected in any manner, except that the Rent shall be suspended from the date of such damage until the earlier of thirty (30) days from either elect to repair the Premises or to terminate the Lease as of the date of destruction. If Landlord delivers elects to repair the Premises Premises, then the destruction shall not terminate this Lease or reduce Tenant’s obligations hereunder except that Tenant shall be entitled to Tenant for the purpose proportionate reduction of Tenant making tenant improvements thereto or the date Rent and Additional Rent while the Premises are substantially ready for occupancy unusable by Tenantreason of the destruction.

Appears in 1 contract

Samples: Lease Agreement (Schmitt Industries Inc)

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) 14.01 If, during the TermTerm or Renewal Term of this Lease, the Leased Premises or any other portion shall be damaged to such an extent that the repair of such damage and the restoration of the Building Leased Premises can be accomplished, with reasonable diligence, within one hundred twenty (including120) days after such damage, without limitationLessee shall promptly repair such damage and cause the Leased Premises to be restored to their condition prior to the event causing the damage. If, during the Term or Renewal Term of this Lease, the rooftop) is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of GodLeased Premises shall be destroyed or damaged, or other casualty (collectivelypartially destroyed or damaged, a “Casualty”) so to such an extent that the Premises are rendered wholly repair of such destruction or substantially unfit for occupancy or unsuitable for damage and the conduct restoration of the Business, such that the Leased Premises cannot be repaired accomplished, with reasonable diligence, within one hundred eighty twenty (180120) days from the time of such after destruction or damage, then this Lease, at the option Lessee shall promptly notify Lessor in writing of the Landlord or Tenant, may be terminated as of such fact within forty-five (45) days after the date of such damage. Landlord shall give Tenant written notice within thirty (30) days of the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will elect to terminate this Lease destruction or repair or rebuild the Premises. Should Landlord notify Tenant that the damages cannot be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option within sixty (60) days after such Casualty, may terminate this Lease upon written notice to Tenant. In the event that either Landlord or Tenant elects to terminate this Lease, then Tenant shall pay the Rent apportioned to the time of damage, and Tenant Lessee shall immediately surrender thereafter have the Premises on the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereofright, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and this Lease shall not be affected in any manner, except that the Rent shall be suspended from the date of such damage until the earlier during a period of thirty (30) days from following such notification, to terminate this Lease by written notice to the date Landlord delivers Lessor, declaring this Lease to be terminated provided, however, that, as a condition precedent to such termination, all proceeds of insurance required to be maintained by Lessee under Article 12.01, an amount equal to the insurance proceeds which would have been available but for such failure shall be paid by Lessee to Lessor. Unless such notice of immediate termination shall be given within such 30-day period, this Lease shall continue in full force and effect and Lessee shall promptly repair such destruction or damage and cause the Leased Premises to be restored to its condition prior to the event causing the destruction or damage. In the event the Leased Premises are destroyed or damaged, or partially destroyed or damaged, the monthly rent payable by Lessee shall be abated proportionately according to the floor area of the Leased Premises which is useable by Lessee, provided that if there is damage to the Leased Premises which results in Tenant being unable to use the Leased Premises for ordinary business operations, even if such damage is not to the entire Leased Premises, monthly Rent shall be completely abated. Such abatement shall continue for the purpose of Tenant making tenant improvements thereto period commencing with such damage or destruction and ending when Lessee completes repair work or reconstruction, provided Lessee diligently commences and expeditiously completes the date repair work or reconstruction. In the Premises event the taxiway(s) and/or runway(s) are substantially ready damaged or destroyed or rendered inaccessible to the extent that Lessee is not able to perform ordinary business operations at the Leased Premises, the monthly rent payable by Lessee shall be abated for occupancy by Tenantthe period commencing with such damage or destruction and ending when the taxiway(s) and/or runway(s) are repaired and accessible to Lessee such that Lessee can resume ordinary business operations.

Appears in 1 contract

Samples: Lease

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, If during the Term, term of this Agreement the Premises or any other portion of the Building (including, without limitation, the rooftop) Access Area is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, or other casualty (collectively, a “Casualty”) so that the Premises same are rendered wholly or substantially unfit for occupancy or unsuitable for the conduct of the BusinessAccess Activities, such that the Premises and if said Access Area cannot be repaired within one hundred eighty sixty (18060) days from the time of such damage, or in some other reasonable time period agreed to by the parties, then this LeaseAgreement, at the option of the Landlord or TenantCPC, may be terminated as of the date of such damage. Landlord In the event CPC elects to terminate the Agreement, CPC shall give Tenant written notice within thirty (30) days pay the Access Fee, apportioned to the time of such damage, and shall immediately surrender the date of damage if such damage canAccess Area to CPI and CPC shall be relieved from any further liability hereunder. If CPC does not be repaired within one hundred eighty (180) days and whether it will elect to terminate this Lease Agreement or repair or rebuild if any damage by any of the Premises. Should Landlord notify Tenant that above casualties, rendering the damages cannot Access Area wholly unfit, can be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option within sixty (60) days after such Casualtythereafter, may terminate this Lease upon written notice or in some other reasonable time period agreed to Tenant. In by the event that either Landlord or Tenant elects parties, CPI agrees to terminate this Lease, then Tenant shall pay the Rent apportioned to the time of damage, and Tenant shall immediately surrender the Premises on the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereof, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) promptly and this Lease Agreement shall not be affected in any manner, manner except that the Rent Access Fee shall be suspended and shall not accrue from the date of such damage until such repairs have been completed; however, CPC shall continue to pay any portion of the Access Fee which is based upon actual costs which continue to be incurred prior to completion of the repairs. If said Access Area shall be so slightly damaged by any of the above casualties as not to be rendered wholly unfit for occupancy, CPI shall repair the Access Area promptly and during the period from the date of such damage until the earlier repairs are completed, the Access Fee shall be apportioned so that CPC shall pay an amount which bears the same ratio to the entire Access Fee as the portion of thirty (30) days the Access Area which CPC is able to utilize without disturbance during the period bears to the entire Access Area. If the damage by any of the above casualties is so slight that CPC is not disturbed in its Access Activities, then same shall be promptly repaired by CPI and in that case, the Access Fee accrued or accruing shall not abate. CPI's obligations to repair damages under this Xxxxxon shall be limited to the dollar amount of any insurance proceeds which are actually received by CPI specifically as a result of the damage to or destruction of the Access Area buildings or portions of the Access Area for which CPI has maintenance obligations under this Agreement; however, if CPI insures the buildings in the Access Area for less than reasonable replacement cost, CPI shall be required to repair damages and rebuild under this paragraph to the replacement cost of the buildings, minus any environmental remediation of or debris removal from the date Landlord delivers the Premises to Tenant Access Area specifically required for the purpose of Tenant making tenant improvements thereto or the date the Premises are substantially ready for occupancy by Tenantrebuilding.

Appears in 1 contract

Samples: Access Agreement (Corn Products International Inc)

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) IfWithout prejudice to paragraph 9 of this Contract, during in case the Termleased premises/permanent improvements placed on the premises shall be partially damaged or destroyed, by any cause not covered by insurance, LESSEE shall immediately repair, restore or reconstruct or cause to be repaired, restored or reconstructed said damage or destroyed improvements to the Premises condition thereof immediately prior to such damage or any other portion destruction. The failure of the Building (includingLESSEE to complete the repair, without limitation, the rooftop) is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, reconstruction or other casualty (collectively, a “Casualty”) so that the Premises are rendered wholly or substantially unfit for occupancy or unsuitable for the conduct of the Business, such that the Premises cannot be repaired within one hundred eighty (180) days from the time of such damage, then this Lease, at the option of the Landlord or Tenant, may be terminated as of the date of such damage. Landlord shall give Tenant written notice restoration to its original condition within thirty (30) calendar days from the occurrence of the date of loss/damage if such damage cannot shall be repaired within one hundred eighty (180) days and whether it a material breach which will elect entitle the LESSOR to terminate this Lease lease, unless the LESSOR grants an extension. If the damage is so extensive as to amount virtually to the total destruction of the premises or repair the permanent improvements, the lease will be deemed terminated after occurrence of the casualty and the rent shall be apportioned to the time of the damage. Notwithstanding the above provisions, if the premises or rebuild the Premises. Should Landlord notify Tenant that building is damaged by fire or other casualty due to the damages cannot fault or negligence of the LESSEE or its servants, employees, agents, visitors or licensees, then, without prejudice to any other rights, remedies or cause of action the LESSOR may have against the LESSEE, the damage shall be repaired within one hundred eighty (180) days by the LESSEE or by LESSOR at the LESSEE’s expense and that it has elected the LESSEE shall be liable to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of pay the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option within sixty (60) days after such Casualty, may terminate this Lease upon written notice to Tenantrent. In the event that either Landlord the leased premises are totally destroyed or Tenant elects to terminate this Leasecannot be used for the purposes of the LESSEE or rendered uninhabitable by fortuitous event, then Tenant as determined jointly by the LESSOR and LESSEE, whether insured against or not, the lease shall pay the Rent apportioned to the time of damagebe terminated and extinguished, and Tenant the LESSEE’s obligation to pay further rentals shall immediately surrender likewise be deemed extinguished. In which case, the Premises on Security Deposit and the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereofunused Advance Rent, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and this Lease if any, shall not be affected in any manner, except that the Rent forfeited and shall be suspended from returned by the date of such damage until LESSOR to the earlier of LESSEE within thirty (30) days days’ from the date Landlord delivers joint- determination by the Premises to Tenant for LESSOR and the purpose LESSEE that the lease has been extinguished. If the destruction is partial, as determined jointly by the LESSOR and LESSEE, LESSEE may choose between a proportional reduction of Tenant making tenant improvements thereto the rent or rescission of the date the Premises are substantially ready for occupancy by Tenantlease.

Appears in 1 contract

Samples: Contract of Lease (U.S. Auto Parts Network, Inc.)

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, during If the TermPremises shall be damaged or rendered totally or partially un-tenantable by fire or other casualty, the Premises Lessee shall, within thirty (30) days from the date of said damage or any other portion of destruction, commence to repair or replace said improvements, according to the Building (including, without limitation, the rooftop) is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, or other casualty (collectively, a “Casualty”) original plans and specifications so that the Lessee may continue with occupancy and the same shall be completed within one hundred eighty (180) days thereafter. Provided, however, in the event the Premises are rendered wholly shall be totally destroyed by fire or substantially unfit for occupancy other casualty, the Lessee shall have the option not to rebuild the Premises and to terminate this Lease be giving written notice to Lessor of its election to so terminate, such notice to be given within thirty (30) days after the occurrence of such damage or unsuitable destruction. Lessee's obligation to pay for the conduct cost of rebuilding or repairing any such damage or destruction to the improvements located at the Premises shall be limited to the insurance monies payable by reason of such damage or destruction. Provided, however, if the cost of repairing or replacing said improvements exceed the amount of the Businessinsurance proceeds as the result of Tenant's desire to construct a building at the Premises which exceeds that which was located at the Premises prior to such casualty, it shall be Lessee's responsibility to pay all additional monies necessary for such repairs or replacements. However, it is further agreed that the Premises rent herein required to be paid shall abatx xxxing said period of untenantability or if the improvements shall be damaged but not rendered untenantable thereby, the rental shall abatx xx an amount proportionate to the decrease in the utility of the Premises. It is agreed by the parties that if the building cannot be replaced or repaired within one hundred eighty (180) days from the time of such damage, then this Lease, at the option of the Landlord or Tenant, may be terminated as of the date of such damage. Landlord shall give Tenant written notice within thirty (30) days of the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will elect to terminate this Lease or repair or rebuild the Premises. Should Landlord notify Tenant that the damages cannot be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option within sixty (60) days after such Casualty, may terminate this Lease upon written notice to Tenant. In the event that either Landlord or Tenant elects to terminate this Lease, then Tenant shall pay the Rent apportioned to the time of damage, and Tenant shall immediately surrender the Premises on the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereof, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and this Lease shall not be affected in any mannerbuilding, except due to the inability of either party to obtain materials or labor needed, strikes, or acts of God or governmental restrictions that would prohibit, limit, or delay said construction, then the Rent shall be suspended from the date time for completion of such damage until the earlier of thirty (30) days from the date Landlord delivers the Premises to Tenant for the purpose of Tenant making tenant improvements thereto or the date the Premises are substantially ready for occupancy by Tenant.said repairs and

Appears in 1 contract

Samples: Lease (Southern Community Bancorp)

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DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, during the Termterm of this lease, the Premises or any other portion of renewal or extension thereof the Building (demised premises are damaged or destroyed by casualty including, without limitationbut not limited to, fire or earthquake, and the rooftop) damage is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, or other casualty (collectively, a “Casualty”) so extensive that the Premises are rendered wholly or substantially unfit for occupancy or unsuitable for the conduct ordinary business of the Business, such that the Premises Lessees cannot reasonably be conducted therein, and such damage cannot with reasonable diligence be repaired within one hundred eighty (180) 120 days from the time happening of such damagecasualty, then this Lease, at the option of either Lessor or Lessees, to be exercised within thirty (30) days after the Landlord or Tenanthappening of such casualty, may be terminated this lease shall cease and terminate as of the date of such damagecasualty, and Lessees shall forthwith vacate and surrender said premises. Landlord If (1) neither Lessor nor Lessees shall give Tenant written notice within thirty (30) days of the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will elect to terminate this Lease lease, or repair or rebuild (2) the Premises. Should Landlord notify Tenant demised premises are so damaged by such casualty that the damages ordinary business of the Lessees cannot reasonably be conducted therein, but such damage can, with reasonable diligence be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building120 days, then Landlord at its sole option within sixty (60) days after such CasualtyLessor shall, may terminate this Lease upon written notice with all reasonable diligence, unless prevented by strikes, lockouts or other labor disturbances or inability to Tenant. In the event that either Landlord or Tenant elects to terminate this Leaseobtain materials, then Tenant shall pay the Rent apportioned to the time of damagerepair and restore said premises, and Tenant no rent shall immediately surrender accrue or be payable during or for the Premises on the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereof, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and this Lease shall not be affected in any manner, except that the Rent shall be suspended period from the date of such damage until casualty to the earlier date when said premises shall have been repaired and restored. If the demised premises are so slightly damaged by such casualty that the ordinary business of thirty (30) days Lessees can reasonably be conducted therein, then Lessor shall with all reasonable diligence, unless prevented by strikes, lockouts or other labor disturbances or inability to obtain materials, repair and restore said premises, and there shall be no allowance or deduction from the date Landlord delivers rent herein provided on account of such damage. Lessees shall promptly notify Lessor in the Premises event the demised premises are so damaged by such casualty. Lessor's only responsibility shall be to Tenant make repairs if and as herein agreed to be made, and nothing in this lease is intended to or shall be construed to make Lessor liable for the purpose of Tenant making tenant improvements thereto or the date the Premises are substantially ready for occupancy by Tenantany damage due to such casualty.

Appears in 1 contract

Samples: Jetfax Inc

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, during In the Term, event of a partial destruction of the Premises from any cause covered by Landlord's standard fire and extended coverage insurance, Landlord shall immediately repair such destruction, provided the cost of repair does not exceed the insurance proceeds and such repairs can be made within ninety (90) days, but such partial destruction shall in no way annul or void this Lease, and Tenant shall not be entitled to a proportionate reduction of rent while such repairs are being made. If such partial destruction was caused by any other portion of the Building (including, without limitation, the rooftop) is damaged risk not covered by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of GodLandlord's insurance, or other casualty if the cost of repair exceeds the insurance proceeds payable, Landlord may, at its option, make such repairs, provided the repairs can be made within ninety (collectively90) days, a “Casualty”) so that and the Premises are rendered wholly Lease shall remain in full force and effect. If the Landlord does not elect to make repairs it is not obligated to make, or substantially unfit for occupancy or unsuitable for the conduct of the Business, if such that the Premises repairs cannot be repaired made within one hundred eighty ninety (18090) days from the time of days, or if such damagerepairs cannot be made under law, then this Lease, Lease may be terminated at the option of the Landlord or Tenant, may be terminated as of the date of such damage. Landlord shall give Tenant written notice within thirty (30) days of the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will elect to terminate this Lease or repair or rebuild the Premises. Should Landlord notify Tenant that the damages cannot be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option within sixty (60) days after such Casualty, may terminate this Lease upon written notice to Tenanteither party. In the event that either the building is destroyed to the extent of not less than thirty-three and one-third percent (33 1/3%) of the replacement cost of it, Landlord or Tenant elects may elect to terminate this Lease, then whether the Premises are injured or not and without liability to Tenant. A total destruction of the Premises, or of the building, shall terminate this Lease. In the event of any dispute between Landlord and Tenant shall pay the Rent apportioned relative to the time provisions of damagethis section, and Tenant they shall immediately surrender submit their dispute to arbitration in accordance with the Premises on the effective date rules of the termination American Arbitration Association. The arbitration shall take place in the State of this Lease New Jersey. New Jersey law shall apply. A written decision is to be required and requested from the Arbitrator by both parties. The arbitration shall be final and binding upon both Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminateTenant. If the Lease is not terminated pursuant American Arbitration Association and/or the Arbitrator refuses to provide the terms hereof, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and parties with a written opinion then this Lease shall not be affected in any manner, except that the Rent clause requiring Arbitration shall be suspended from the date void and of no force and effect. The cost of such damage until the earlier of thirty (30) days from the date arbitration shall be borne equally between Landlord delivers the Premises to Tenant for the purpose of Tenant making tenant improvements thereto or the date the Premises are substantially ready for occupancy by and Tenant.

Appears in 1 contract

Samples: Lease (Yardville National Bancorp)

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) 14.1 If, during the TermTerm of this Lease, the Leased Premises or any other portion shall be damaged to such an extent that the repair of such damage and the restoration of the Building (includingLeased Premises can be accomplished, without limitationwith reasonable diligence, the rooftop) is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, or other casualty (collectively, a “Casualty”) so that the Premises are rendered wholly or substantially unfit for occupancy or unsuitable for the conduct of the Business, such that the Premises cannot be repaired within one hundred eighty (180) days from the time of after such damage, then Lessee shall promptly repair such damage and cause the Leased Premises to be restored to their condition prior to the event causing the damage. If, during the Term of this Lease, at the option Leased Premises shall be destroyed or damaged to such an extent that the repair of such destruction or damage and the restoration of the Landlord or Tenant, may be terminated as of the date of such damage. Landlord shall give Tenant written notice within thirty (30) days of the date of damage if such damage Leased Premises cannot be repaired accomplished, with reasonable diligence, within one hundred eighty (180) days and whether it will elect to terminate this Lease after destruction or repair or rebuild the Premises. Should Landlord damage, then Lessee shall promptly notify Tenant that the damages cannot be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt Lessor in writing of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building fact within forty-five (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option within sixty (6045) days after such Casualty, may terminate this Lease upon written notice to Tenant. In the event that either Landlord or Tenant elects to terminate this Lease, then Tenant shall pay the Rent apportioned to the time of damage, and Tenant shall immediately surrender the Premises on the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereof, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and this Lease shall not be affected in any manner, except that the Rent shall be suspended from the date of such damage until destruction or damage, and Lessee shall thereafter have the earlier right, during a period of thirty (30) days from following such notification, to terminate this Lease by written notice to the date Landlord delivers Lessor, declaring this Lease to be terminated provided, however, that, as a condition precedent to such termination, all proceeds of insurance required to be maintained by Lessee under Article 11.1 shall be paid to Lessor, or, if Lessee fails to maintain the insurance required to be maintained by Lessee under Article 11.1, an amount equal to the insurance proceeds which would have been available but for such failure shall be paid by Lessee to Lessor. Unless such notice of immediate termination shall be given within such 30-day period and proceeds of insurance are paid to Lessor, this Lease shall continue in full force and effect and Lessee shall promptly repair such destruction or damage and cause the Leased Premises to Tenant be restored to their condition prior to the event causing the destruction or damage. In the event the Leased Premises are destroyed or damaged, or partially destroyed or damaged, the monthly rent payable by Lessee shall be abated proportionately according to the floor area of the Leased Premises which is useable by Lessee. Such abatement shall continue for the purpose of Tenant making tenant improvements thereto period commencing with such damage or destruction and ending when Lessee completes repair work or reconstruction, provided Lessee diligently commences and expeditiously completes the date the Premises are substantially ready for occupancy by Tenantrepair work or reconstruction.

Appears in 1 contract

Samples: Lease

DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, during In the Term, the Premises or any other portion event of a partial ------------------------------------ destruction of the Building (includingpremises from any cause covered by Lessor's standard fire and extended coverage insurance, without limitation, Lessor shall forthwith repair the rooftop) is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts premises provided the cost of public enemy, acts of God, or other casualty (collectively, a “Casualty”) so that the Premises are rendered wholly or substantially unfit for occupancy or unsuitable for the conduct of the Business, repair does not exceed said insurance proceeds and such that the Premises cannot repairs can be repaired within one hundred eighty (180) days from the time of such damage, then this Lease, at the option of the Landlord or Tenant, may be terminated as of the date of such damage. Landlord shall give Tenant written notice within thirty (30) days of the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will elect to terminate this Lease or repair or rebuild the Premises. Should Landlord notify Tenant that the damages cannot be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option made within sixty (60) days after under the laws and regulations of state, county and/or municipal authorities, but such Casualtypartial destruction shall in no way annul or void this lease, except that Lessee shall be entitled to a proportionate reduction of base monthly rental and additional rental while such repairs are being made; such proportionate reduction to be based upon the extent to which the making of such repairs interferes with the business carried on by the Lessee in said premises. If such partial destruction was caused by any risk not covered by Lessor's insurance or if the cost of repair exceeds the insurance proceeds payable, or if such repairs cannot be made within sixty (60) days, Lessor may, at its option, make such repairs, the rent shall be abated as provided above, and the lease shall remain in full force and effect. If the Lessor does not elect to make repairs which it is not obligated to make, this lease may terminate this Lease upon written notice to Tenantbe terminated by Lessor or Lessee. In the event that either Landlord or Tenant elects the building in which the demised premises are situated is destroyed to the extent of not less than fifty percent (50%) of the replacement cost thereof, Lessor may elect to terminate this Leaselease, then Tenant shall pay whether the Rent apportioned demised premises are injured or not and without liability to the time Lessee. A total destruction of damagethe building in which the said premises may be situated, shall terminate this lease. The provisions of subdivision 2 of Section 1932 of the California Civil Code, and Tenant of Subdivision 4 of Section 1933 of that Code, shall immediately surrender not apply to this lease, and Lessee waives the Premises on benefits of such provisions. Notwithstanding anything to the effective contrary in this lease, Lessee shall have the option to terminate this lease in the event either of the following occurs: (i) the premises cannot be or are not in fact fully repaired by Lessor within nine (9) months after the date of any damage or destruction not caused by the termination negligence or intentional misconduct of this Lease to Landlord who may enter upon and repossess Lessee, Lessee's agents, employees or invitees or (ii) if the same and all further rights and obligations premises are damaged by any peril within twelve (12) months of the parties hereunder will terminate. If last day of the Lease is lease term and cannot terminated pursuant to the terms hereof, Landlord shall repair or replace as required such damage to the Premises are not in fact substantially restored within six (but not any tenant improvements made by Tenant6) and this Lease shall not be affected in any manner, except that the Rent shall be suspended from months after the date of such damage, provided such damage until was not caused by the earlier negligence or intentional misconduct of thirty (30) days from the date Landlord delivers the Premises to Tenant for the purpose of Tenant making tenant improvements thereto Lessee, Lessee's agents, employees or the date the Premises are substantially ready for occupancy by Tenantinvitees.

Appears in 1 contract

Samples: Office Lease (Evolve Software Inc)

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