DAMAGE TO PREMISES. If the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualty, Landlord shall apply any insurance proceeds, or, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective as of the date of such casualty by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such termination. If such notice is not given and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this Lease.
Appears in 1 contract
Samples: Lease (Emerge Interactive Inc)
DAMAGE TO PREMISES. 18.01 If the Leased Premises are hereafter shall be damaged or destroyed or rendered partially untenantable for their customary use by fire fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole or in part, Landlord shall apply any insurance proceedspromptly, orat its own expense, cause such damage to be repaired, and the rent shall not be abated; if by reason of such occurrence the Leased Premises shall be rendered untenantable only in part, Landlord shall promptly, at its own expense, cause the damage to be repaired, and meanwhile the rent shall be abated proportionately to the portion of the Leased Premises rendered untenantable; if by reasons of such occurrence the Leased Premises shall be rendered wholly untenantable, Landlord shall promptly, at its own expense, cause such damage to be repaired, and the rent meanwhile shall be abated in whole, unless within sixty (60) days after such occurrence Landlord shall give Tenant written notice that it has elected not to reconstruct the destroyed Leased Premises, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of which event this Lease to promptly repair and the same to substantially the same condition which they were in immediately prior to the happening tenancy hereby created shall cease as of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, said occurrence and the rent shall be adjusted as of such date. Landlord shall not be required to expend repair or replace any property which the Tenant may be entitled to remove from the Leased Premises. No damages, compensation or claims shall be payable by Landlord for such inconvenience, loss of business or annoyance arising from any repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Leased Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore building in which the entire Leased Premises during or after form a part. All rent paid in advance shall be apportioned in accordance with the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective foregoing provisions as of the date of such casualty by giving to damage; however, notwithstanding the foregoing, if the damage results wholly or in part from the fault of the Tenant, within 60 days after the happening of such casualtyits agents, written notice ofcontractors, such termination. If such notice is not given and Landlord is required employees or elects to repair or restore the Premises as herein providedinvitees, then Tenant shall promptly repair not be entitled to termination of any abatement or replace its~ leasehold improvements, stock reduction in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment rent. Notwithstanding anything herein to the same condition as they were in immediately prior to contrary, if fifty percent (50%) or more of the Leased Premises is untentable because of a casualty, and if independent third party construction experts indicate that repair and reconstruction of the destroyed Leased Premises will require in excess of sixty (60) days to place it back into a condition that Tenant has closed its businessmay occupy same, Tenant shall promptly reopen for then within five (5) business upon the completion of days after such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of determination ("Tenant's Final Termination Date"),Tenant may terminate this Lease. If Tenant does not so terminate, then Landlord shall proceed to rebuild and restore the Leased Premises as soon as practicable.
Appears in 1 contract
Samples: Lease Agreement (Sb Merger Corp)
DAMAGE TO PREMISES. If Upon the occurrence of any damage to the Premises, upon notice (the "Landlord Repair Notice") to Tenant from Landlord, Tenant shall assign to Landlord (or to any party designated by Landlord) all insurance proceeds payable to Tenant under Tenant's insurance required under Section 10.3.2(ii) and (iii) of this Lease, and Landlord shall repair any injury or damage to the Original Improvements installed in the Premises and shall return such Original Improvements to their original condition; provided that if the cost of such repair by Landlord exceeds the amount of insurance proceeds received by Landlord from Tenant's insurance carrier, as assigned by Tenant, the cost of such repairs shall be paid by Tenant to Landlord prior to Landlord's commencement of repair of the damage. In the event that Landlord does not deliver the Landlord Repair Notice within sixty (60) days following the date the casualty becomes known to Landlord, Tenant shall, at its sole cost and expense, repair any injury or damage to the Original Improvements installed in the Premises and shall return such Original Improvements to their original condition. Whether or not Landlord delivers a Landlord Repair Notice, prior to the commencement of construction, Tenant shall submit to Landlord, for Landlord's review and approval, all plans, specifications and working drawings relating thereto, and Landlord shall select the contractors to perform such improvement work. Landlord shall not be liable for any inconvenience or annoyance to Tenant or its visitors, or injury to Tenant's business resulting in any way from such damage or the repair thereof; provided however, that if such fire or other casualty shall have damaged the Premises or Common Areas necessary to Tenant's occupancy, and the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use not occupied by fire or other casualtyTenant as a result thereof, Landlord shall apply any insurance proceeds, or, in its sole discretion, cause Tenant to apply then during the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior time and to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until extent the Premises are so repaired and restore& unless delayed by action of the Tenantunfit for occupancy, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant be abated in proportion to the part ratio that the amount of rentable square feet of the Premises occupied by which is unfit for occupancy for the Tenant destroyed or rendered untenantablepurposes permitted under this Lease bears to the total rentable square feet of the Premises. The In the event that Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and deliver the Landlord shall not be required Repair Notice, Tenant's right to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses rent abatement pursuant to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord preceding sentence shall have the right to terminate this Lease effective as of the date of such casualty which is reasonably determined by giving Landlord to Tenant, within 60 days after be the happening of such casualty, written notice of, such termination. If such notice is not given and Landlord is required or elects date Tenant should have completed repairs to repair or restore the Premises as herein provided, then assuming Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord used reasonable due diligence in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this Leasetherewith.
Appears in 1 contract
Samples: Office Lease (Quality Systems Inc)
DAMAGE TO PREMISES. If Upon the occurrence of any damage to the Premises, upon notice (the “Landlord Repair Notice”) to Tenant from Landlord, Tenant shall assign to Landlord (or to any party designated by Landlord) all insurance proceeds payable to Tenant under Tenant’s insurance required under Section 10.3.2(ii) and (iii) of this Lease, and Landlord shall repair any injury or damage to the Tenant Improvements and the Original Improvements installed in the Premises and shall return such Tenant Improvements and Original Improvements to their original condition; provided that if the cost of such repair by Landlord exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, as assigned by Tenant, the cost of such repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repair of the damage. In the event that Landlord does not deliver the Landlord Repair Notice within sixty (60) days following the date the casualty becomes known to Landlord, Tenant shall, at its sole cost and expense, repair any injury or damage to the Tenant Improvements and the Original Improvements installed in the Premises and shall return such Tenant Improvements and Original Improvements to their original condition. Whether or not Landlord delivers a Landlord Repair Notice, prior to the commencement of construction, Tenant shall submit to Landlord, for Landlord’s review and approval, all plans, specifications and working drawings relating thereto, and Landlord shall select the contractors to perform such improvement work. Landlord shall not be liable for any inconvenience or annoyance to Tenant or its visitors, or injury to Tenant’s business resulting in any way from such damage or the repair thereof. Notwithstanding the foregoing, (i) if such fire or other casualty shall have damaged the Premises or Common Areas necessary to Tenant’s occupancy, and the Premises are hereafter damaged or destroyed or rendered partially untenantable not occupied by Tenant as a result thereof, then during the time and to the extent the Premises are unfit for their customary use by fire or other casualty, Landlord occupancy until the Premises shall apply any insurance proceeds, or, in its sole discretion, cause Tenant be restored to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately existing prior to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to the Rent shall be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant abated in proportion to the part ratio that the amount of rentable square feet of the Premises occupied by which is unfit for occupancy for the purposes permitted under this Lease bears to the total rentable square feet of the Premises, and (ii) if Tenant destroyed cannot and does not operate its business from the Premises despite the fact that the Premises are not completely damaged, in which case rent shall xxxxx in full during the time and to the extent the Premises are unfit for occupancy until the earlier of the date Tenant operates its business from the Premises or rendered untenantablethe date the Premises shall be restored to the condition existing prior to such casualty. The In the event that Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and deliver the Landlord shall not be required Repair Notice, Tenant’s right to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses rent abatement pursuant to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord preceding sentence shall have the right to terminate this Lease effective as of the date of such casualty which is reasonably determined by giving Landlord to Tenant, within 60 days after be the happening of such casualty, written notice of, such termination. If such notice is not given and Landlord is required or elects date Tenant should have completed repairs to repair or restore the Premises as herein provided, then assuming Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord used reasonable due diligence in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this Leasetherewith.
Appears in 1 contract
Samples: Office Lease (Epicor Software Corp)
DAMAGE TO PREMISES. If Tenant will repair promptly at its expense any damage to the Premises are hereafter damaged and, upon demand, shall reimburse Landlord (as Additional Rent) for the cost of the repair of any damage elsewhere on or destroyed in the Center, caused by or rendered partially untenantable for their customary use arising from the installation or removal of property or fixtures in or from the Premises, regardless of fault or by fire whom such damage shall be caused (unless caused by Landlord, its agents, employees or other casualtycontractors). If Tenant fails to commence such repairs within five (5) days after notice to do so, or complete such repairs prior to the termination or sooner expiration of the Term, then Landlord shall apply any insurance proceeds, or, in its sole discretion, may make or cause Tenant to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior be made and Tenant agrees to the happening of such casualtypay to Landlord promptly upon Landlord's demand, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenantas Additional Rent, the Minimum Monthly Rent payments payable hereunder cost thereof with interest thereon at the Default Rate until paid. At Landlord's election, Tenant shall xxxxx also (i) repair or remediate promptly, and at Tenant's expense, or (ii) reimburse Landlord (as Additional Rent) for the Tenant in proportion cost of repairs or remediation of, any damage to or dangerous condition created within the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises Center, if such casualty is damage or dangerous condition was caused directly or indirectly created by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required employees or contractors. If Tenant fails to expend for commence such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyedremediation within five (5) days after Landlord's notice to do so, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then if Landlord shall have the right to terminate this Lease effective as of the date of such casualty by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such termination. If such notice is not given and Landlord is required or elects to undertake such repair or restore remediation for the Premises as herein providedaccount of Tenant, then Tenant agrees to pay to Landlord promptly upon Landlord's demand, as Additional Rent, the cost thereof with interest thereon at the Default Rate until paid. Tenant's obligations for Additional Rent hereunder shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment to survive the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI termination of this Lease.
Appears in 1 contract
Samples: Industrial Gross Lease Agreement (Asset Acceptance Capital Corp)
DAMAGE TO PREMISES. (a) If the Premises are hereafter damaged or shall be destroyed or rendered partially untenantable for their customary use untenantable, either wholly or in part, by fire or other casualtycasualty ("Casualty"), Tenant shall immediately notify Landlord in writing upon the occurrence of such Casualty. In the event of any Casualty, Landlord may elect either to (i) repair the damage caused by such casualty as soon as reasonably possible, in which case this Lease shall remain in full force and effect, or (ii) terminate this Lease as of the date the casualty occurred. Landlord shall notify Tenant within thirty (30) days after receipt of notice of the occurrence of the casualty whether Landlord elects to repair the damage or terminate this Lease. If Landlord shall elect to repair the damage, Tenant shall pay Landlord the portion of the "deductible amount" (if any) under Landlord's insurance allocable to the damage to the Premises and, if the damage shall have been due to an act or omission of Tenant, or Tenant's employees, agents, contractors or invitees, the difference between the actual cost of repair and any insurance proceeds received by Landlord. If Landlord elects to repair the damage as provided above, Landlord shall apply any insurance proceeds, or, in its sole discretion, cause work diligently to complete such repairs and deliver possession of the Premises to Tenant to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From within 180 days from the date of the casualty. If Landlord does not deliver possession within 210 days after the date of the casualty, Tenant may terminate this Lease upon written notice to Landlord. Landlord shall use its best efforts to provide Tenant with alternate space in the Building or in other building(s) owned by Landlord within five (5) miles of the Property during such repair period.
(b) If the casualty until to the Premises are so repaired and restore& unless delayed by action shall occur during the last six (6) months of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, Lease Term and the damage shall be estimated by Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of require more than 50% of the cost thirty (30) days to replace repair, either Landlord or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right Tenant may elect to terminate this Lease effective as of the date the casualty shall have occurred, regardless of the sufficiency of any insurance proceeds. The party electing to terminate this Lease shall give written notification to the other party of such casualty by giving to Tenant, election within 60 ten (10) days after Tenant's notice to Landlord of the happening occurrence of such casualty, written notice of, such termination. If such notice is not given and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this Lease.
Appears in 1 contract
DAMAGE TO PREMISES. A. In the event of any damage to or destruction of the Premises, any Improvements thereon, or any other State property caused in whole or in part by Tenant, its contractors, agents, servants, employees, or invitees arising in whole or in part from Tenant's failure to implement Sound Farming and Conservation Practices (hereinafter collectively referred to as "Damage"), Tenant shall, at Tenant's sole cost and expense, promptly repair such Damage. All determinations as to whether Tenant has implemented Sound Farming and Conservation practices shall be made by Landlord in consultation with NRCS or the appropriate Soil Conservation District on the basis of Tenant's Farm Conservation Plan. If the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualtythere is no approved plan, Landlord shall apply any insurance proceedsmake this determination in consultation with NRCS or the appropriate Soil Conservation District. If Landlord determines that such Damage should not be repaired, Tenant shall be responsible to Landlord for the diminution in value of the Premises. In the event that Tenant, after receipt of a written notice from Landlord describing Tenant's failure to comply with Tenant's obligations under this Paragraph, fails to commence and substantially correct the conditions described in said notice, Landlord may, upon being notified by Landlord that Tenant is in violation of the terms and conditions of the Lease, terminate this Lease or, in its sole discretion, cause enter upon the Premises and perform such work as Landlord determines is necessary to correct said conditions. Tenant to apply the proceeds of insurance described shall, after written demand therefor by Landlord, reimburse Landlord for all costs incurred by Landlord in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior to the happening performance of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenantwork. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated liable to repair and restore Tenant or any person claiming by or through Tenant for any loss occasioned by the damage or destruction of the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord and/or any Improvements thereon. This Lease shall not be required construed to expend require or obligate Landlord to cause any Damage to the Premises to be repaired for such repair or restoration the benefit of Tenant.
B. All repairs by Tenant of Damage to the Premises and/or any amount in excess other State property comprising part of the insurance proceeds recovered as a result of such damageState Park shall be completed in accordance with plans and specifications submitted to and approved by Landlord. However, if The parties shall comply with all the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective as of the date of such casualty by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such termination. If such notice is not given requirements and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock procedures set forth in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment Paragraph 9 hereof to the same condition extent as they were in immediately prior to though the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this Leaserepair is an Improvement.
Appears in 1 contract
Samples: Farm Lease
DAMAGE TO PREMISES. If In the Premises event that the premises are hereafter totally destroyed, or so damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualtycasualty not occurring through the fault or negligence of Tenant, Landlord shall apply any insurance proceedsits employees, oragents or business invitees, that the same, in its sole discretionthe reasonable opinion of Landlord cannot be repaired and restored within a period of nine (9) months, cause Tenant to apply the proceeds of insurance described in Article XI of this Lease to promptly repair shall absolutely cease and terminate and the same to substantially the same condition which they were in immediately prior to the happening Rent shall be apportioned as of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such the casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the balance of the term. Landlord shall serve notice upon Tenant within thirty (30) calendar days after the casualty as to whether the premises can and will in proportion fact be repaired and restored within the nine (9) months period. If the damage, caused as above, be only partial or such that the premises can in the reasonable opinion of the Landlord, be restored to their present condition within a period of nine (9) months, Landlord agrees with reasonable promptness to restore the same, reserving the right to enter upon the premises for that purpose. Landlord also reserves the right to enter upon the premises whenever necessary to repair damaged caused by fire or other casualty to Tenant's Building, even though the effect of such entry would be to render the premises or a part of Premises occupied by the Tenant destroyed or rendered thereof untenantable. The 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 premises rendered untenantable the duration of Landlord's possession and the interference with the Tenant's business. In the event Landlord undertakes to make repairs to or to restore the premises, Landlord shall not be obligated to repair and restore or replace property owned by Tenant including, but not limited to, furniture, fixtures, improvements, inventory, equipment, etc., unless damage is caused by the gross negligence of the Landlord. If such damage results from the negligent act or omission of Tenant or Tenant's employees or agents, Tenant shall not be entitled to any abatement or reduction of the rent.
11. Alterations Tenant shall have the right with Landlord's prior consent in writing to make changes or alterations in the building located on the Premises, or to construct improvements on the Premises; provided, however, that Tenant shall not make any alterations, additions or deletions to the building located on the Premises if such casualty alteration, addition or deletion shall (i) convert the building located on the Premises to a structure which is caused directly not a complete, self-contained operating unit; (ii) diminish or indirectly reduce the parking area of the Premises below that required by local ordinances. Notwithstanding the negligence foregoing, Tenant may make such structural changes, alternations, additions or intentional act of deletions as are approved in advance and in writing by Landlord, which approval may not be unreasonably withheld or delayed. If Landlord fails to respond within thirty (30) calendar days to any request submitted by Tenant under this Section 11, such request shall be deemed approved by Landlord. If Landlord shall consent, all alterations, including but not limited to, electrical and plumbing installations installed or made by Tenant shall, at Landlord's option, belong to Landlord except Tenant, its agents, and employees's trade fixtures, and the Landlord shall following: Custom walk-in Freezer/Cooler, Cash Registers, Checkout Counters, Shelving, Overhead Lighting, Alarm Systems and other improvements/equipment not be required permanently attached by Tenant to expend for such repair or restoration any amount in excess of the insurance proceeds recovered building. All damage to the building as a result of Tenant's removal of such damageimprovements/equipment etc. Howevershall be repaired promptly by Tenant and at Landlord's satisfaction, if with due observance of the stipulation in article 15. Improvements within a maximum range of US$ 25.000,00 will not require the prior consent of Landlord.
12. Utilities
12.1 Generally All heat, light, power, water, sewerage, trash removal, and other utilities and utility services used in, on or about the Premises shall be damaged, destroyed, or rendered untenantable paid for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord by Tenant and shall have the right to terminate this Lease effective as of the date of such casualty be contracted for by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such termination. If such notice is not given and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this Leaseown name.
Appears in 1 contract
Samples: Lease Agreement (Cost U Less Inc)
DAMAGE TO PREMISES. (a) If the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use untenantable, either wholly or in part, by fire or other casualtycasualty ("Casualty"), Tenant will immediately notify Landlord shall apply any insurance proceeds, orin writing upon the occurrence of such Casualty. Landlord may elect either to (i) repair the damage caused by such casualty as soon as reasonably possible, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of which case this Lease to promptly repair the same to substantially the same condition which they were will remain in immediately prior to the happening of such casualty, including all floor coverings, wall coverings, drapes full force and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyedeffect, or rendered untenantable for their accustomed uses to (ii) terminate the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective Term as of the date the Casualty occurred. Landlord will notify Tenant within 30 days after receipt of such casualty notice of the Casualty whether Landlord elects to repair the damage or terminate the Lease Term. If Landlord elects to repair the damage, Tenant will pay Landlord Tenant's Pro Rata Share of the deductible amount (which deductible shall not exceed $25,000) under Landlord's insurance allocable to the damage to the Premises and, if the damage was due to an act or omission of Tenant or its employees, agents, contractors or invitees, the difference between the actual cost of repair and any insurance proceeds received by giving Landlord.
(b) If (i) based on the estimate of Landlord's architect or contractor, it will take Landlord more than 9 months to Tenantrebuild the Premises or (ii) the Casualty occurs during the last 6 months of the Lease Term and the damage is estimated by Landlord to require more than 30 days to repair, Tenant may elect to terminate the Lease Term as of the date the Casualty occurred, which must be exercised by written notification to Landlord within 60 10 days after the happening occurrence of such casualty, written notice of, such termination. the Casualty.
(c) If such notice the Property is not given destroyed or damaged by Casualty and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment Property pursuant to the same condition as they were in immediately prior provisions of this Article 10, any Rent payable during the period of such damage, repair and/or restoration will be reduced according to the casualtydegree, if any, to which Tenant's use of the Premises is impaired.
(d) The provisions of this Article 10 will govern the rights and if obligations of Landlord and Tenant has closed its business, Tenant shall promptly reopen for business upon in the completion event of such repairsany damage or destruction of or to the Property. Tenant shall reimburse Landlord for waives the protection of any cost incurred by Landlord statute, code or judicial decision which grants a tenant the right to terminate a lease in connection with any casualty to the Premises, which are not otherwise covered by event of the insurance described in Article XI damage or destruction of this Leasethe leased property.
Appears in 1 contract
DAMAGE TO PREMISES. a) If the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use untenantable, either wholly or in part, by fire or other casualtycasualty (“Casualty”), Tenant will immediately notify Landlord shall apply any insurance proceeds, orin writing upon the occurrence of such Casualty. Landlord may elect either to (i) repair the damage caused by such casualty as soon as reasonably possible, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of which case this Lease will remain in full force and effect, or (ii) if (A) Landlord estimates it will take more than nine (9) months to promptly repair the same to substantially Premises or (B) the same condition which they were in immediately prior to Casualty occurs during the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action last six (6) months of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Lease Term and Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of estimates it will require more than 50% of thirty (30) days to repair, terminate the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective Term as of the date the Casualty occurred. Landlord will notify Tenant within thirty (30) days after receipt of such casualty notice of the Casualty whether Landlord elects to repair the damage or terminate the Lease Term. If Landlord elects to repair the damage, Tenant will pay Landlord the portion of the deductible amount under Landlord’s insurance allocable to the damage to the Premises and, if the damage was due to an act or omission of Tenant or its employees, agents, contractors or invitees, the difference between the actual cost of repair and any insurance proceeds received by giving Landlord.
b) If based on the estimate of Landlord’s architect or contractor, it will take Landlord more than nine (9) months to Tenantrebuild the Premises or (ii) the Casualty occurs during the last six (6) months of the Lease Term and the damage is estimated by Landlord to require more than thirty (30) days to repair, Tenant may elect to terminate the Lease Term as of the date the Casualty occurred, which must be exercised by written notification to Landlord within 60 thirty (30) days after the happening occurrence of such casualty, written notice of, such termination. the Casualty.
c) If such notice the Property is not given destroyed or damaged by Casualty and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment Property pursuant to the same condition as they were in immediately prior provisions of this Article 10, any Rent payable during the period of such damage, repair and/or restoration will be reduced according to the casualtydegree, if any, to which Xxxxxx’s use of the Premises is impaired.
d) The provisions of this Article 10 will govern the rights and if obligations of Landlord and Tenant has closed its business, Tenant shall promptly reopen for business upon in the completion event of such repairsany damage or destruction of or to the Property. Tenant shall reimburse Landlord for waives the protection of any cost incurred by Landlord statute, code or judicial decision which grants a tenant the right to terminate a lease in connection with any casualty to the Premises, which are not otherwise covered by event of the insurance described in Article XI damage or destruction of this Leasethe leased property.
Appears in 1 contract
DAMAGE TO PREMISES. If the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualty, Landlord shall apply any insurance proceeds, or, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& restored unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective as of the date of such casualty by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such termination. If such notice is not given and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this Lease.
Appears in 1 contract
Samples: Lease (Emerge Interactive Inc)
DAMAGE TO PREMISES. If If, because of damage to the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualtyPremises, Landlord shall apply any insurance proceeds, or, in its sole discretion, cause Tenant has the right to apply terminate the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term (a) under Paragraph 11.2A of this Lease, or (b) under Paragraph II. 2D (I) of this Lease solely on the ground that the cost of restoration are not reasonable within the meaning of said Paragraph 11.2D(I); then Landlord in either case Tenant shall have the right option to terminate avoid such termination and have the Lease continue if Tenant fulfills the conditions set forth in this Lease effective as Paragraph. The option shall be exercised by written notice to Landlord that Tenant will pay for all of the date costs and expenses of such casualty said restoration to the extent that same are not covered and paid by giving to Tenant, insurance. Such notice must be given within 60 ten (10) days after the happening Landlord has given Tenant notice of termination under such casualtyParagraphs, written notice of, such termination. If and if such notice is not given and Landlord is required within the specified time, such option shall be of no further force or elects to repair or restore the Premises as herein providedeffect. If Tenant exercised such an option, then Landlord shall give Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes written notice of Landlord's estimate of (a) the costs and equipment to the same condition as they were in immediately prior to the casualtyexpenses of restoration, and (b) the Landlord's anticipated insurance proceeds, if Tenant has closed its businessany. Within thirty (30) days of Tenant's receipt of this notice, Tenant shall promptly reopen deposit with Landlord the amount of the difference stated in Landlord's written estimate between Landlord's insurance proceeds and the costs and expenses of restoration. If Tenant does not deposit such funds within the specified time, then Landlord's notice of termination shall be deemed valid as originally given, and Tenant's exercise of the option granted in this Paragraph shall be null and void. When the Premises have been rebuilt, Landlord shall account to Tenant for business upon the completion actual costs and expenses of such repairsrebuilding and the actual insurance proceeds. Within thirty (30) days of Landlord's accounting, Tenant shall pay to Landlord any further sum necessary to fully reimburse Landlord for the difference between its actually recovered insurance proceeds and its actual costs of construction, or Landlord shall reimburse the Tenant for any cost incurred amount paid by Landlord Tenant in connection with any casualty to excess of the Premisesdifference between Landlord's actually recovered insurance proceeds and its actual costs of construction, which are not otherwise covered by as the insurance described in Article XI of this Lease.case may be
Appears in 1 contract
Samples: Lease (Quickturn Design Systems Inc)
DAMAGE TO PREMISES. If the Demised Premises shall be partially damaged by any casually insurable under the Landlord’s insurance policy. Landlord shall, upon receipt of the insurance proceeds, provided same are hereafter sufficient to cover the cost, and, subject to the rights of any mortgagees. repair the same with reasonable speed, and a just and proportionate part of the rent shall be abated until so repaired. The obligation of the Landlord hereunder shall be limited to the basic building of storefront. If more than fifty (50%) percent of the Demised Premises shall be rendered untenantable or should be damaged as a result of a risk which is not covered by Landlord’s insurance, or if fifty (50%) percent or more of the gross leasable area of the Shopping Center shall be damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualtycause, notwithstanding that the Demised Premises may be unaffected by such event, then or in any such event. Landlord may elects to repair the damage or cancel this Lease within ninety (90) days of said occurrence by notice of cancellation to Tenant and Tenant shall apply vacate the Demised Premises. Unless this Lease is terminated by Landlord. Tenant shall hold the proceeds of all insurance carried by Tenant on its property and improvements in trust for the purpose of repair and replacement in the event Landlord elects to repair the damage any abatement of rent shall and five (5) days after notice by Landlord to Tenant that the Demised Premises have been repaired. If any damage is caused by the negligence of Tenant or its employees the damages shall be repaired by Landlord upon receipt of the insurance proceeds, or, in its sole discretion, cause Tenant to apply but there shall be no abatement of rent. In the proceeds event that a portion of insurance described in Article XI of this Lease to promptly repair the same Demised Premises is damaged or destroyed so as to substantially the same condition interiere with Tenant’s use of premises which they were damage in immediately prior to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall landlord determination cannot be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act remedied within hundred eighty (180) days of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damagedestruction. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord Tenant shall have the right to terminate this Lease effective as of the date of such casualty lease by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such termination. If such notice is not given and Landlord is required or elects to repair or restore landlord within sixty (60) days of Landlord’s Determination that the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are cannot otherwise covered by the insurance described in Article XI of this Leasebe restored within one hundred eighty(180)days.
Appears in 1 contract
Samples: Sublease (NationsHealth, Inc.)
DAMAGE TO PREMISES. If the building in which the Premises are hereafter located is damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualty, Landlord shall apply any insurance proceeds, or, in its sole discretion, cause Tenant Williams xxxxx xxve notice to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior to the happening CTC of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this damage as quickly as practicable under the circumstances. If a Landlord or Williams xxxxxxxxs an option to terminate a particular Lease due to be insured by the Tenant. From the date damage or destruction of such casualty until the Premises are so repaired and restore& unless delayed by action of subject to such Lease, or if Williams xxxxxxx not to rebuild such building or portion thereof in which the TenantRack Space is located, the Minimum Monthly Rent payments payable POP Collocation Service and license granted hereunder or under the relevant Collocation Service Order(s) shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective as of the date of such casualty exercise or decision as to the affected Rack Space and the service fees paid by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such terminationCTC shall be modified accordingly. If such notice is not given and neither the Landlord is required or elects of the affected Premises nor Williams xxxxxxxxs the right to repair or restore terminate, Williams xxxxx xxpair the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment particular Rack Space to substantially the same condition as they were it was in immediately prior to the casualtydamage, and if Tenant has closed its businesscompleting the same with reasonable speed. In the event that Williams xxxxx xxil to complete the repair within a reasonable time period, Tenant CTC shall promptly reopen for business upon thereupon have the completion option to terminate relevant POP Collocation Services with respect to the affected Rack Space, which option shall be the sole remedy available to CTC against Williams xxxxx xxis Exhibit relating to such failure. If the Rack Space or any portion thereof shall be rendered unusable by reason of such repairs. Tenant damage, the service fees for such Rack Space shall reimburse Landlord proportionately abate, baxxx xn the amount of square footage which is rendered unusable, for any cost incurred by Landlord in connection with any casualty the period from the date of such damage to the date when such damage shall have been repaired for the portion of the Rack Space rendered unusable. 13. Conduct in Rack Space & Premises: CTC shall abide by Williams' xxx xxxlicable Landlord's rules with regard to conduct in the Premises of which it has been made aware by either Landlord or Williams. Xxxx xules include, which but are not otherwise covered limited to, a prohibition against smoking in the Rack Space or the Premises by CTC's employees, agents, representatives, contractors, subcontractors, invitees or licensees. Further, CTC shall maintain the insurance described Rack Space in Article XI a safe condition, including but not limited to the preclusion of this Leasestoring combustible materials in the Rack Space. Expiration of Collocation Service Term for Short-Term Rack Spaces.* *THIS PORTION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION
Appears in 1 contract
Samples: Dark Fiber Iru Agreement (CTC Communications Group Inc)
DAMAGE TO PREMISES. (a) If the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use untenantable, either wholly or in part, by fire or other casualtycasualty ("Casualty"), Tenant will immediately notify Landlord shall apply any insurance proceeds, orin writing upon the occurrence of such Casualty. Landlord may elect either to (i) repair the damage caused by such casualty as soon as reasonably possible, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of which case this Lease to promptly repair the same to substantially the same condition which they were will remain in immediately prior to the happening of such casualty, including all floor coverings, wall coverings, drapes full force and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyedeffect, or rendered untenantable for their accustomed uses to (ii) terminate the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective Term as of the date the Casualty occurred. Landlord will notify Tenant within 30 days after receipt of such casualty notice of the Casualty whether Landlord elects to repair the damage or terminate the Lease Term. If Landlord elects to repair the damage, Tenant will pay Landlord the portion of the deductible amount (which deductible shall not exceed $25,000) under Landlord's insurance allocable to the damage to the Premises and, if the damage was due to an act or omission of Tenant or its employees, agents, contractors or invitees, the difference between the actual cost of repair and any insurance proceeds received by giving Landlord.
(b) If (i) based on the estimate of Landlord’s architect or contractor, it will take Landlord more than 9 months to Tenantrebuild the Premises or (ii) the Casualty occurs during the last 6 months of the Lease Term and the damage is estimated by Landlord to require more than 30 days to repair, Tenant may elect to terminate the Lease Term as of the date the Casualty occurred, which must be exercised by written notification to Landlord within 60 10 days after the happening occurrence of such casualty, written notice of, such termination. the Casualty.
(c) If such notice the Property is not given destroyed or damaged by Casualty and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment Property pursuant to the same condition as they were in immediately prior provisions of this Article 10, any Rent payable during the period of such damage, repair and/or restoration will be reduced according to the casualtydegree, if any, to which Tenant's use of the Premises is impaired.
(d) The provisions of this Article 10 will govern the rights and if obligations of Landlord and Tenant has closed its business, Tenant shall promptly reopen for business upon in the completion event of such repairsany damage or destruction of or to the Property. Tenant shall reimburse Landlord for waives the protection of any cost incurred by Landlord statute, code or judicial decision which grants a tenant the right to terminate a lease in connection with any casualty to the Premises, which are not otherwise covered by event of the insurance described in Article XI damage or destruction of this Lease.the leased property
Appears in 1 contract
DAMAGE TO PREMISES. If the building in which the Premises are hereafter located is damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualty, Landlord CNS shall apply any insurance proceeds, or, in its sole discretion, cause Tenant give Notice to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior to the happening THE CUSTOMER of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by damage as quickly as practicable under the Tenantcircumstances. From If the date landlord of such casualty until the Premises are so repaired and restore& unless delayed by action or CNS exercises an option to terminate a particular lease or license due to damage or destruction of the TenantPremises subject to such lease or license, or if landlord determines not to rebuild such building or portion thereof in which the Licensed Area is located, the Minimum Monthly Rent payments payable hereunder relevant Colocation Services Order and this License shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective as of the date of such casualty exercise or decision as to the affected Licensed Area, and the Colocation Services fees and charges paid by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such terminationTHE CUSTOMER shall be adjusted accordingly. If such notice is not given neither the landlord of the affected Premises nor CNS exercises the right to terminate, then once the landlord has restored the building and Landlord is required or elects the Premises, CNS shall repair the particular Licensed Area to substantially the same condition it was in prior to the damage, completing the same with reasonable speed considering all of the facts and circumstances. In no event shall CNS have any obligation to repair or restore replace THE CUSTOMER-provided Equipment. In the Premises as herein providedevent that CNS shall fail to complete the repair within a reasonable time period under the circumstances, then Tenant THE CUSTOMER shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes thereupon have the option to terminate the relevant Colocation Services Order and equipment this License with respect to the same condition as they were in immediately prior affected Licensed Area, which option shall be the sole remedy available to THE CUSTOMER against CNS under this Agreement relating to such failure. If the Licensed Area or any portion thereof shall be rendered unusable by reason of such damage, the Colocation Services fees and charges for such Licensed Area shall proportionately xxxxx, based on the amount of square footage of the Licensed Area which is rendered unusable, for the period from the date of such damage to the casualty, and if Tenant has closed its business, Tenant date when such damage shall promptly reopen have been repaired for business upon the completion portion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this LeaseLicensed Area rendered unusable.
Appears in 1 contract
Samples: Master Services Agreement
DAMAGE TO PREMISES. If the Premises premises are hereafter damaged or destroyed or rendered partially untenantable for their customary accustomed use by fire or other casualtycasualty insured under the coverage which Landlord carries pursuant to Section 11.1 hereof, Landlord shall apply any insurance proceeds, or, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior to the happening of such casualtycasualty (excluding stock in trade, including all fixtures, furniture, furnishings, carpeting, floor coverings, wall coveringscovering, drapes and equipment required by this Lease to be insured by the Tenant. From equipment), and from the date of such casualty until the Premises premises are so repaired and restore& unless delayed by action of the Tenantrestored, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in such proportion to as the part of Premises occupied by the Tenant said premises thus destroyed or rendered untenantable. The untenantable bears to the total premises; PROVIDED, HOWEVER, that ----------------- Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agentsagents and employees and no portion of the Minimum Monthly Rent and other payments payable hereunder shall xxxxx, and employeesPROVIDED, and the FURTHER, that Landlord shall not be required obligated to ----------------- expend for such repair or restoration any an amount in excess of the insurance proceeds recovered as a result of such damage. However, and PROVIDED, FURTHER, that if ----------------- the Premises premises be damaged, destroyed, destroyed or rendered untenantable for their accustomed uses by fire or other casualty to the extent of more than 50% of the cost to replace the premises or restore if the entire Premises premises shall be damaged, destroyed or rendered untenantable in any respect during or after the last five three Lease years of the original term of this LeaseTerm, then Landlord shall have the right to terminate this Lease effective as of the date of such casualty by giving to Tenant, within 60 days after the happening of such casualty, written notice of, of such termination. If such notice is not given be given, this Lease shall terminate and Landlord is required shall promptly repay to Tenant any rent theretofore paid in advance which was not earned at the date of such casualty. Any time that Landlord repairs or elects to repair restores the premises after damage or restore the Premises as herein provideddestruction, then Tenant shall promptly repair or replace its~ leasehold improvements, its stock in trade, fixtures, furnishings, furniture, carpeting, wall coveringscovering, floor coveringscovering, drapes and equipment to the same condition as they were in immediately prior to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty to the Premises, which are not otherwise covered by the insurance described in Article XI of this Lease.
Appears in 1 contract
Samples: Lease (Bank of the Ozarks Inc)
DAMAGE TO PREMISES. (a) If the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use untenantable, either wholly or in part, by fire or other casualtycasualty ("Casualty"), Tenant will immediately notify Landlord shall apply any insurance proceeds, orin writing upon the occurrence of such Casualty. Landlord may elect either to (i) repair the damage caused by such casualty as soon as reasonably possible, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of which case this Lease to promptly repair the same to substantially the same condition which they were will remain in immediately prior to the happening of such casualty, including all floor coverings, wall coverings, drapes full force and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyedeffect, or rendered untenantable for their accustomed uses to (ii) terminate the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Lease, then Landlord shall have the right to terminate this Lease effective Term as of the date of such casualty by giving to Tenant, the Casualty occurred. Landlord will notify Tenant within 60 sixty (60) days after receipt of notice of the happening of such casualty, written notice of, such terminationCasualty whether Landlord elects to repair the damage or terminate the Lease Term. If such Landlord elects to repair the damage, Tenant will pay Landlord the portion of the deductible amount (which deductible shall not exceed $25,000) under Landlord's insurance allocable to the damage to the Premises and, if the damage was due to an act or omission of Tenant or its employees, agents, contractors or invitees, the difference between the actual cost of repair and any insurance proceeds received by Landlord.
(b) If (i) based on the estimate of Landlord's architect or contractor, it will take Landlord more than nine (9) months to rebuild the Premises or (ii) the Casualty occurs during the last six (6) months of the Lease Term and the damage is estimated by Landlord to require more than thirty (30) days to repair, Tenant may elect to terminate the Lease Term as of the date the Casualty occurred, which must be exercised by written notification to Landlord within ten (10) days after receipt of notice regarding the estimate of the time required to rebuild..
(c) If the Premises is not given destroyed or damaged by Casualty and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment pursuant to the same condition as they were in immediately prior provisions of this Article 10, any Rent payable during the period of such damage, repair and/or restoration will be reduced according to the casualtydegree, if any, to which Tenant's use of the Premises is impaired.
(d) The provisions of this Section will govern the rights and if obligations of Landlord and Tenant has closed its business, Tenant shall promptly reopen for business upon in the completion event of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty damage or destruction of or to the Premises. Tenant waives the protection of any statute, code or judicial decision which are not otherwise covered by grants a tenant the insurance described right to terminate a lease in Article XI the event of this Leasethe damage or destruction of the leased property.
Appears in 1 contract
Samples: Triple Net Lease Agreement
DAMAGE TO PREMISES. (a) If the Premises Building, the Premises, or any portion of the Landlord Personalty are hereafter damaged or destroyed or rendered partially untenantable for their customary use or unusable, either wholly or in part, by fire or other casualtycause of damage or loss (“Damage Event”), Tenant will immediately notify Landlord in writing upon the occurrence of such Damage Event. Landlord may elect either to (i) repair the damage and replace the loss of property caused by such Damage Event (including the loss of Landlord Personalty) as soon as reasonably possible, in which case this Lease will remain in full force and effect, or (ii) terminate the Lease Term as of the date the Damage Event occurred; and in either event Landlord shall apply any receive and retain all insurance proceeds, or, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of this Lease to promptly repair the same to substantially the same condition which they were in immediately prior from such Damage Event relating to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by this Lease to be insured by the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the TenantPremises, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall Personalty. Landlord will notify Tenant within 30 days after receipt of notice of the Damage Event whether Landlord elects to repair the damage and replace the loss of property caused by such Damage Event (including the loss of Landlord Personalty) or to terminate the Lease Term. Unless Tenant establishes that the Damage Event was caused solely by the willful misconduct of Landlord, Tenant will immediately pay Landlord upon demand an amount equal to the lesser of (x) the deductible amount (up to $50,000) under either the Casualty Insurance for Landlord or the Landlord Insurance (as applicable) allocable to the damage to and the loss of the Premises and the Landlord Personalty, or (y) the cost to repair such damage and replace such loss (as reasonably estimated by Landlord) if such cost is less than $50,000; such payment to be made by Tenant whether Landlord elects to terminate the Lease Term or Landlord elects to repair the damage and replace the loss. If the Damage Event was caused by the gross negligence or willful misconduct of Tenant or its employees, agents, contractors or invitees, Tenant’s liability to Landlord under the preceding sentence for the deductible amount will not be limited to $50,000. Upon any Damage Event, Tenant shall assign to Landlord and cause the insurer to remit promptly to Landlord all insurance proceeds payable under any of the Property Insurance for Landlord, and if such proceeds are unavailable to Landlord or inadequate as a result of Tenant’s failure to obtain and maintain the Property Insurance for Landlord required by Section 8.01 of this Lease, then Tenant shall immediately pay to expend for such repair or restoration any Landlord an amount in excess cash equal to the amount of the insurance proceeds recovered that would have been payable to Landlord as a result of such damage. HoweverDamage Event if Tenant had maintained the Property Insurance for Landlord required by Section 8.01, if plus any deductible amount.
(b) If (i) based on the estimate (the “Restoration Estimate”) of Landlord or Landlord’s architect or contractor, it will take Landlord more than six (6) months to rebuild the Premises be damaged, destroyedand replace or repair the Landlord Personalty following a Damage Event affecting the Premises or the Landlord Personalty, or rendered untenantable for their accustomed uses (ii) the Damage Event occurs during the last six (6) months of the Lease Term and the damage to the extent of Premises or the Landlord Personalty is estimated by Landlord to require more than 50% 30 days to repair and replace, then, provided (x) the Damage Event was not the result of the cost gross negligence or willful misconduct of Tenant, or its employees, agents, contractors or invitees, and (y) Tenant cannot reasonably be expected to replace continue its business operations in the Premises while the replacement, repair or restore the entire Premises during or after the last five years of the original term of this Leaserestoration work proceeds, then Landlord shall have the right Tenant may elect to terminate this the Lease effective Term as of the date of such casualty the Damage Event occurred, which election to terminate must be exercised by giving written notification to Tenant, Landlord within 60 10 business days after the happening occurrence of the Damage Event, and, if such casualty, written notice oftermination is based upon the facts described in clause (b)(i) above, such termination10-day period shall be extended to the date 10 business days after Tenant’s receipt of the Restoration Estimate. Tenant’s failure to elect to terminate timely under this Section 11.01(b) shall be deemed an election not to terminate the Lease.
(c) If such notice is not given the Premises are destroyed or damaged by a Damage Event and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment same pursuant to the same condition as they were in immediately prior provisions of this Article 11, any Rent payable during the period of such damage, repair and/or restoration will be reduced according to the casualtydegree, if any, to which Tenant’s use of the Premises is impaired, but any such reduction in Rent will be limited to the amount that Landlord receives as insurance proceeds from such Damage Event under the Rent Loss Insurance for Landlord maintained by Tenant under Section 8.01(f).
(d) The provisions of this Article 11 will govern the rights and if obligations of Landlord and Tenant has closed its business, Tenant shall promptly reopen for business upon in the completion event of such repairsany damage or loss or destruction of or to the Premises or the Landlord Personalty. Tenant shall reimburse Landlord for waives the protection of any cost incurred by Landlord statute, code or judicial decision which grants a tenant the right to terminate a lease in connection with any casualty to the Premises, which are not otherwise covered by event of the insurance described in Article XI damage or destruction or loss of this Leasethe leased property.
Appears in 1 contract
DAMAGE TO PREMISES. If Tenant shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use by fire or other casualtycasualty ("Casualty Notice"). Landlord shall notify Tenant ("Landlord's Repair Notice") within sixty (60) days after receipt of a Casualty Notice as to the amount of time, Landlord shall apply any insurance proceedsreasonably estimates it will take to repair and restore the Premises. If the repair and restoration is estimated to exceed three (300) days, or, in its sole discretion, cause then Tenant may elect to apply the proceeds of insurance described in Article XI of terminate this Lease to promptly repair the same to substantially the same condition which they were in immediately prior upon written notice to the happening of such casualty, including all floor coverings, wall coverings, drapes and equipment required by other party given no later than thirty (30) days after Landlord delivers Landlord's Repair Notice. If Tenant elects not to terminate this Lease to be insured by or if Landlord estimates that the Tenant. From the date of such casualty until the Premises are so repaired and restore& unless delayed by action of the Tenant, the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion to the part of Premises occupied by the Tenant destroyed or rendered untenantable. The Landlord shall not be obligated construction time to repair and restore the Premises if such casualty is caused directly will take three hundred (300) days or indirectly by the negligence or intentional act of Tenant, its agents, and employees, and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of this Leaseless, then Landlord shall promptly repair and restore the Premises (but not any Tenant Alterations or Trade Fixtures or machinery, equipment or other personal property of Tenant), subject to actual receipt by Landlord of sufficient insurance proceeds to complete such repair and restoration, delays arising from the collection of insurance proceeds, Tenant Delay or Force Majeure events. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage, whether carried by Landlord or Tenant, for damages to the Premises, except for those proceeds of Tenant's insurance for Tenant Alterations, Trade Fixtures, Tenant's personal property and Rental Interruption Insurance. All such insurance proceeds shall be payable to Landlord whether or not the Premises is to be repaired and restored; provided, however, if this Lease is not terminated and the parties proceed to repair and restore Tenant Alterations and Trade Fixtures at Tenant's cost, to the extent Landlord received proceeds of Tenant's insurance covering Tenant Alterations and Trade Fixtures, such proceeds shall be applied to reimburse Tenant for its cost of repairing and restoring Tenant Alterations and Trade Fixtures. Tenant shall have the right to terminate the Lease by written notice if Landlord does not complete the restoration of the Premises by the date which is sixty (60) days after the estimated completion date set forth in Landlord's notice above, subject to Force Majeure events. Tenant shall not have the right to terminate this Lease effective as pursuant to this Section 7.01 if any damage or destruction was caused by the act or neglect of the date of such casualty by giving to Tenant or its employees, agents, contractors or invitees. Tenant at Tenant, within 60 days after the happening of such casualty, written notice of, such termination. If such notice is not given 's sole cost and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant expense shall promptly repair perform, subject to delays arising from the collection of insurance proceeds or replace its~ leasehold improvementsForce Majeure events, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment all repairs or restoration not required to the same condition as they were in immediately prior be done by Landlord pursuant to the casualty, and if Tenant has closed its business, Tenant shall promptly reopen for business upon the completion of such repairsthis Section 0. Tenant shall reimburse pay to Landlord for with respect to any cost incurred by Landlord in connection with any casualty damage to the Premises, which are not otherwise covered by Premises the amount of the deductible under any insurance described in Article XI policy within thirty-five (35) days after presentment of this LeaseLandlord's invoice.
Appears in 1 contract
Samples: Lease Agreement (SunOpta Inc.)
DAMAGE TO PREMISES. (a) If the Premises are hereafter damaged or destroyed or rendered partially untenantable for their customary use untenantable, either wholly or in part, by fire or other casualtycause of damage (“Damage Event”), Tenant will immediately notify Landlord shall apply any insurance proceeds, orin writing upon the occurrence of such Damage Event. Landlord may elect either to (i) repair the damage caused by such Damage Event as soon as reasonably possible, in its sole discretion, cause Tenant to apply the proceeds of insurance described in Article XI of which case this Lease will remain in full force and effect, or (ii) terminate the Lease Term as of the date the Damage Event occurred. Landlord will notify Tenant within thirty (30) days after receipt of notice of the Damage Event whether Landlord elects to promptly repair the same damage or terminate the Lease Term. If Landlord elects to substantially repair the same condition damage, Tenant will pay Landlord the portion of the deductible amount (which they were in immediately prior deductible shall not exceed Twenty-Five Thousand Dollars, legal currency of the United States of America ($25,000)) under Landlord’s insurance allocable to the happening damage to the Premises. Notwithstanding anything else contained in this Lease, in addition to any other obligations of Tenant under this Lease, if a fire occurs at the Property that is found to have resulted from or been caused by Tenant’s actions or wrongful or negligent failure to act, any costs charged to Landlord by the fire department or other official services in connection with such casualty, including all floor coverings, wall coverings, drapes fire shall be Tenant’s responsibility and equipment required by such costs (together with interest at the rate of 10% per annum) will be deemed to be Additional Rent under this Lease and will be payable to be insured by Landlord immediately on demand.
(b) If (i) based on the Tenant. From estimate (the date “Restoration Estimate”) of such casualty until Landlord’s architect or contractor, it will take Landlord more than two (2) months to rebuild the Premises are so repaired and restore& unless delayed by action following a Damage Event affecting the Premises, or (ii) the Damage Event occurs during the last six (6) months of the Tenant, Lease Term and the Minimum Monthly Rent payments payable hereunder shall xxxxx for the Tenant in proportion damage to the part Premises is estimated by Landlord to require more than thirty (30) days to repair, then, provided the Damage Event was not the result of Premises occupied by the Tenant destroyed acts or rendered untenantable. The Landlord shall not be obligated to repair and restore the Premises if such casualty is caused directly or indirectly by the negligence or intentional act omissions of Tenant, its agentsTenant may elect to terminate the Lease Term as of the date the Damage Event occurred, which must be exercised by written notification to Landlord within ten (10) working days after the occurrence of the Damage Event, and, if such termination is based upon the facts described in paragraph (i) above, such ten (10) day period shall be extended to the date ten (10) working days after Tenant’s receipt of the Restoration Estimate.
(c) Notwithstanding anything to the contrary in this paragraph and in the Civil Code, and employees, as material consideration for Landlord and the Landlord shall not be required to expend for such repair or restoration any amount in excess of the insurance proceeds recovered as a result of such damage. However, if the Premises be damaged, destroyed, or rendered untenantable for their accustomed uses to the extent of more than 50% of the cost to replace or restore the entire Premises during or after the last five years of the original term of Tenant entering into this Lease, if Tenant terminates this Lease under Paragraph 11.01(b), then Tenant hereby covenants to Landlord that it will promptly reinstate this Lease for the Lease Term which would have existed but for such termination by Tenant. If after the Lease is reinstated, Tenant is still prevented from using all or a substantial portion of the Premises for any purpose whatsoever (including, without limitation, the storage of goods, inventory, or materials) due to the Damage Event for an additional two (2) consecutive month period following the reinstatement of the Lease (i.e. Tenant is prevented from using all or a substantial portion of the Premises for a total of four (4) consecutive months), then following such second two (2) month period (i.e. Tenant is prevented from using all or a substantial portion of the Premises for a total of four (4) consecutive months), Tenant shall have the right to terminate this Lease effective as of the date by providing written notice to Landlord of such casualty termination within ten (10) days following such four (4) consecutive month period, and except as otherwise expressly set forth in this Lease, the parties shall have no further obligations to each other under this Lease. This paragraph and the covenants and obligations contained therein shall survive any termination of this Lease.
(d) If the Property or Building is destroyed or damaged by giving to Tenant, within 60 days after the happening of such casualty, written notice of, such termination. If such notice is not given a Damage Event and Landlord is required or elects to repair or restore the Premises as herein provided, then Tenant shall promptly repair Property or replace its~ leasehold improvements, stock in trade, fixtures, furnishings, furniture, carpeting, wall coverings, floor coverings, drapes and equipment Building pursuant to the same condition as they were in immediately prior provisions of this Article 11, any Rent payable during the period of such damage, repair and/or restoration will be reduced according to the casualtydegree, if any, to which Tenant’s use of the Premises is impaired.
(e) The provisions of this Article 11 will govern the rights and if obligations of Landlord and Tenant has closed its business, Tenant shall promptly reopen for business upon in the completion event of such repairs. Tenant shall reimburse Landlord for any cost incurred by Landlord in connection with any casualty damage or destruction of or to the Property (including the Building) or the Premises, which are not otherwise covered by the insurance described in Article XI of this Lease.
Appears in 1 contract