DAMAGES BY CASUALTY. 13.1 If the demised premises shall be damaged by fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date. 13.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the demised premises may be unaffected by such fire or other cause, Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, if at all, within the sixty (60) days following the date of said occurrence. Rent shall be adjusted as of the date of such termination. 13.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abated.
Appears in 2 contracts
Samples: Shopping Center Lease, Shopping Center Lease
DAMAGES BY CASUALTY. 13.1 If 17.1 Tenant shall give immediate written notice to Landlord of any damage caused to the demised premises shall be damaged Demised Premises by fire, the elements, unavoidable accident fire or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 17.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center Demised Premises shall be damaged or destroyed by fire or other causecasualty insurable under standard fire and extended coverage insurance and Landlord does not elect to terminate this lease as hereinafter provided, notwithstanding that Landlord shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the demised premises may be unaffected Demised Premises. In the event (a) the building in which the Demised Premises are located is destroyed or substantially damaged by a casualty not covered by Landlord's insurance, or (b) such fire building is destroyed or rendered untenantable to an extent in excess of fifty percent (50%) of the first floor area by a casualty covered by Landlord's insurance, or (c) the holder of a mortgage, deed of trust or other causelien on such building at the time of the casualty elects, Landlord may terminate this Lease and pursuant to such mortgage, deed of trust or other lien, to require the tenancy hereby created by giving to Tenant five (5) days prior written notice use of all or part of Landlord's election so to doinsurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, which notice deed of trust or other lien, or (d) the Demised Premises shall be givendamaged to the extent of fifty percent (50%) or more of the cost of replacement, if at all, then Landlord may elect either to terminate this lease or to proceed to rebuild and repair the Demised Premises. Landlord shall give written notice to Tenant of such election within the sixty (60) days after the occurrence of such casualty and, if it elects to rebuild and repair, shall proceed to do so with reasonable diligence and at its sole cost and expense.
17.3 Landlord's obligation to rebuild and repair under this Article 17 shall in any event be limited to restoring one of the following (as may be applicable): (a) if this lease does not include an attached exhibit describing Landlord's initial construction responsibility ("Landlord's Work"), restoring the date Demised Premises to substantially the condition in which the same existed prior to such casualty, exclusive of said occurrenceany alterations, additions, improvements, fixtures and equipment installed by Tenant; or (b) restoring Landlord's Work, as described in the applicable exhibit attached to this lease (if such an exhibit is attached), to substantially the same condition in which the same existed prior to the casualty. Rent shall be adjusted Tenant agrees that promptly after completion of such work by Landlord, Tenant will proceed with reasonable diligence and at Tenant's sole cost and expense to restore, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant, and, if an exhibit describing Tenant's Work is attached hereto, all items of Tenant's Work as described in such exhibit.
17.4 Notwithstanding anything to the contrary in this Article 17, if the casualty should occur during the last six (6) months of the term, and at least fifty percent (50%) of the Demised Premises has been damaged thereby, either party may, upon ten (10) days notice to the other party given within fifteen (15) days of the date of such terminationthe casualty, terminate this lease.
13.3 Notwithstanding 17.5 Tenant agrees that during any period of reconstruction or repair of the Demised Premises, it will continue the operation of its business within the Demised Premises to the extent practicable. During the period from the occurrence of the casualty until Landlord's repairs are completed, the minimum guaranteed rental and additional rental charges shall be proportionately reduced hereunder.
17.6 Tenant hereby waives the provisions of Section 13.1 California Civil Code Sections 1932(2) and 1933(4) and the provisions of this Article, if the demised premises shall be damaged by fire any successor or other causes resulting from the fault or negligence law of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abatedlike import.
Appears in 2 contracts
Samples: Sublease (Ariba Inc), Industrial Complex Lease (Ariba Inc)
DAMAGES BY CASUALTY. 13.1 If 17.1 Tenant shall give prompt written notice to Landlord of any material damage caused to the demised premises shall be damaged Demised Premises by fire, the elements, unavoidable accident fire or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 17.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center Demised Premises shall be damaged or destroyed by fire or other causecasualty insurable under standard fire and extended coverage insurance and Landlord does not elect to terminate this lease as hereinafter provided, notwithstanding that Landlord shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the demised premises may be unaffected Demised Premises. In the event (a) the Building is destroyed or substantially damaged by such fire a casualty not covered by Landlord's insurance, or (b) the Building is destroyed or rendered untenantable to an extent in excess of fifty percent (50%) of the first floor area by a casualty covered by Landlord's insurance, or (c) the holder of a mortgage, deed of trust or other causelien on the Building at the time of the casualty elects, Landlord may terminate this Lease and pursuant to such mortgage, deed of trust or other lien, to require the tenancy hereby created by giving to Tenant five (5) days prior written notice use of all or part of Landlord's election so to doinsurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, which notice deed of trust or other lien, or (d) the Building shall be givendamaged to the extent of fifty percent (50%) or more of the cost of replacement, if at all, then Landlord may elect either to terminate this lease or to proceed to rebuild and repair the Demised Premises. Landlord shall give written notice to Tenant of such election within the sixty (60) days after the occurrence of such casualty and, if it elects to rebuild and repair, shall proceed to do so with reasonable diligence and at its sole cost and expense. In the event that Landlord should fail to complete such repairs and material restoration within two hundred and forty (240) days following the date of said occurrence. Rent such casualty, Tenant may elect to terminate this lease by written notice to Landlord ("Tenant's Termination Notice"), such termination to be effective thirty (30) days after Landlord's receipt of such notice; provided, however, that if within ten (10) days of Landlord's receipt of Tenant's Termination Notice, Landlord shall notify Tenant that it estimates that such repairs and material restoration can be completed within thirty (30) days after the original date estimated by Landlord, then Tenant's Termination Notice shall be adjusted void and of no further force and effect. If, however, Landlord does not complete such repairs and material restoration within such thirty (30) day period, Tenant may at its option and as its sole remedy for such delay terminate this lease by delivering written notice to Landlord, within ten (10) days after the expiration of said period of time, whereupon the lease shall end on the date of such terminationnotice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this lease for the expiration of the term.
13.3 Notwithstanding 17.3 Landlord's obligation to rebuild and repair under this Article 17 shall in any event be limited to restoring Landlord's Work, as described in Sections 8.1 and 14.1 of this lease and in EXHIBIT B attached hereto, to substantially the same condition in which the same existed prior to the casualty. Tenant agrees that promptly after completion of such work by Landlord, Tenant will proceed with reasonable diligence and at Tenant's sole cost and expense to restore, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant, and, if an exhibit describing Tenant's Work is attached hereto, all items of Tenant's Work as described in such exhibit.
17.4 Tenant agrees that during any period of reconstruction or repair of the Demised Premises, it will continue the operation of its business within the Demised Premises to the extent practicable. During the period from the occurrence of the casualty until Landlord's repairs are completed, the minimum guaranteed rental shall be reduced to such extent as may be fair and reasonable under the circumstances; however, there shall be no abatement of the charges provided for herein unless, and then only to the extent, such charges are covered by Landlord's loss of rent insurance coverage.
17.5 Tenant hereby waives the provisions of Section 13.1 California Civil Code Sections 1932(2) and 1933(4) and the provisions of this Article, if the demised premises shall be damaged by fire any successor or other causes resulting from the fault or negligence law of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abatedlike import.
Appears in 1 contract
DAMAGES BY CASUALTY. 13.1 If 17.1 Tenant must give immediate written notice to the demised premises shall be damaged Landlord of any damage caused to the Demised Premises by fire, the elements, unavoidable accident fire or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 17.2 In the event that fifty (50%) percent the Demised Premises are damaged or more destroyed by fire or any other casualty, regardless of the rentable area extent of the Shopping Center shall be damage or destruction, Xxxxxxxx agrees to deliver to Tenant within ninety (90) days after Tenant delivers to Landlord written notice required by the terms of Section 17.1 above, a realistic construction schedule, prepared by a reputable general contractor acceptable to Landlord, setting forth such general contractor’s estimated time periods to substantially complete the repair and reconstruction. Thereafter, within six (6) months of the date of the damage or destroyed building or improvement and pursue the repair, reconstruction or replacement with reasonable diligence so as to restore the building to substantially the same condition it was in before the casualty.
17.3 In the event the Demised Premises are damaged or destroyed by fire or other causecasualty, notwithstanding that and the demised premises may be unaffected by such fire holder of any mortgage, deed of trust or other causelien senior to this Lease elects under the terms of its security documents to apply all or any portion of the insurance proceeds to the reduction of Landlord’s indebtedness, then Xxxxxxxx’s indebtedness, then Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, if at all, within the sixty (60) days following after Landlord delivers the Construction Schedule to Tenant. Any termination under this Section 17.3 will be effective on the date such notice is delivered to Tenant. If Landlord fails to terminate this Lease in the manner set forth above, then Landlord will be deemed to have waived the termination right under this Section 17.3.
17.4 Tenant agrees that during any period of said occurrence. Rent shall be adjusted as reconstruction or repair of the date Demised Premises, it will continue the operation of such termination.
13.3 Notwithstanding its business within the provisions of Section 13.1 of this Article, if Demised Premises to the demised premises shall be damaged by fire or other causes resulting extent practicable. During the period from the fault or negligence occurrence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and any casualty at the expense of Tenant Demised Premises until Xxxxxxxx’s required repairs are completed, the Base Rent will be reduced to such extent as may be fair and reasonable under the direction and supervision circumstances; however, there will be no abatement of Landlord and rent shall not be abatedthe other charges provided for in this Lease.
Appears in 1 contract
DAMAGES BY CASUALTY. 13.1 17.1 If the demised premises Building is damaged or destroyed by fire, tornado, or other casualty, Tenant shall give prompt written notice thereof to Landlord.
17.2 If during the last two (2) years of the term of this Lease, the Building is totally destroyed by fire, tornado, or other casualty, or if during such two-year period it should be so damaged that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date of such damage, this Lease shall, at the option of Tenant (to be exercised by written notice delivered to Landlord within forty-five (45) days after the occurrence of the casualty), terminate and the rent shall be abated during the unexpired portion of this Lease, effective with the date of such damage. In such event, all insurance proceeds shall be allocated in the same manner as is specified in Section 15.5 above.
17.3 If the Building is damaged by fire, the elementstornado, unavoidable accident or other casualty, casualty but are not thereby rendered untenantable in wholeunder such circumstances as entitle Tenant to terminate pursuant to Section 17.2 above, or partif under such circumstances but Tenant shall not have elected to terminate this Lease, Landlord this Lease shall at its own expense cause such damage to be repairednot terminate, and Tenant shall, at Tenant's sole cost and expense, proceed with reasonable diligence to rebuild and repair such Building to substantially the condition in which they existed prior to such damage. The rent payable hereunder shall not be abatedin no event xxxxx during the period in which the Demised Premises or Building are untenantable.
17.4 Tenant shall not, without Landlord's prior written consent, keep anything within the Demised Premises or Building for any purpose which invalidates any insurance policy carried on the Demised Premises or Building. If All property kept, stored or maintained within the Demised Premises by reason of such occurrence the demised premises Tenant shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the demised premises may be unaffected by such fire or other cause, Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, if at all, within the sixty (60) days following the date of said occurrence. Rent shall be adjusted as of the date of such termination.
13.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abated.sole risk. ARTICLE 18
Appears in 1 contract
Samples: Ground Lease Agreement (Chicago Pizza & Brewery Inc)
DAMAGES BY CASUALTY. 13.1 If the demised premises shall be damaged by fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.premises
13.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the demised premises may be unaffected by such fire or other cause, Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, if at all, within the sixty (60) days following the date of said occurrence. Rent shall be adjusted as of the date of such termination.
13.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abated.
Appears in 1 contract
Samples: Shopping Center Lease
DAMAGES BY CASUALTY. 13.1 If 17.1 Tenant must give immediate written notice to the demised premises shall be damaged Landlord of any damage caused to the Demised Premises by fire, the elements, unavoidable accident fire or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 17.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center shall be Demised Premises are damaged or destroyed by fire or other causecasualty insurable under standard Special Form or similar property insurance and Landlord does not elect to terminate this lease as hereinafter provided, notwithstanding that Landlord must proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the demised premises Demised Premises. In the event (a) the building in which the Demised Premises are located is destroyed or substantially damaged by a casualty not covered by Landlord’s insurance, or (b) such building is destroyed or rendered untenantable to an extent in excess of fifty percent of the first floor area by a casualty covered by landlord’s insurance, or (c) the holder of a mortgage, deed of trust or other lien on such building at the time of the casualty elects, pursuant to such mortgage, deed of trust or other lien, to require the use of all or part of Landlord’s insurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, deed of trust or other lien, then Landlord may elect either to terminate this lease or to proceed to rebuild and repair the Demised Premises. Landlord must give written notice to Tenant of such election within sixty days after the occurrence of such casualty and, if it elects to rebuild and repair, must proceed to do so with reasonable diligence and at its sole cost and expense.
17.3 Landlord’s obligation to rebuild and repair under this Article 17 is in any event limited to restoring one of the following (as may be unaffected applicable): (a) if this lease does not include an attached exhibit describing Landlord’s initial construction responsibility (defined in such exhibit as “Landlord’s Work”), restoring the Demised Premises to substantially the condition in which the same existed immediately prior to such casualty, exclusive of any alterations, additions, improvements, fixtures and equipment installed by Tenant; or (b) rebuilding concrete floors, walls made of metal studs and drywall, a roof (but no ceiling), and Landlord’s Work, as described in an exhibit attached to this lease, to substantially the same condition in which the same existed immediately prior to the casualty. Tenant agrees that promptly after completion of such fire work by Landlord, Tenant will proceed with reasonable diligence and at Tenant’s sole cost and expense to restore, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant, or, if an exhibit describing Tenant’s Work is attached hereto, all items of Tenant’s Work as described in such exhibit, as the case may be, and to re-commence business operations at the Demised Premises as soon as reasonably possible.
17.4 Tenant agrees that during any period of reconstruction or repair of the Demised Premises, it will continue the operation of its business within the Demised Premises to the extent practicable. During the period from the occurrence of the casualty until Landlord’s repairs are completed, the minimum guaranteed rental will be reduced to such extent as may be fair and reasonable under the circumstances; however, there will be no abatement of the other causecharges provided for herein.
17.5 Notwithstanding the above, should the Demised Premises be damaged by casualty to the extent it becomes uninhabitable and Landlord does not restore the Demised Premises to a habitable condition within two hundred seventy (270) days of the casualty, then Tenant may terminate this Lease and lease by written notice to Landlord delivered on or before the tenancy hereby created by giving to Tenant five earlier of (5i) thirty (30) days prior after the end of such two hundred seventy (270) day period or (ii) Landlord’s restoration of the Demised Premises to a habitable condition. Additionally, should the casualty occur in the last twelve (12) months of the lease term, then either Landlord or Tenant may terminate this lease by written notice of Landlord's election so to do, which notice shall be given, if at all, within the other delivered on or before sixty (60) days following after the date of said occurrence. Rent shall be adjusted as of the date occurrence of such terminationcasualty.
13.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abated.
Appears in 1 contract
Samples: Office Lease (Quality Systems Inc)
DAMAGES BY CASUALTY. 13.1 If Section 12.1 Tenant shall give immediate written notice to Landlord of any damage caused by the demised premises shall be damaged Leased Premises by fire, the elements, unavoidable accident fire or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 Section 12.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center Leased Premises shall be damaged or destroyed by fire or other cause, notwithstanding that the demised premises may be unaffected by such casualty insurable under standard fire or other cause, and extended coverage insurance and Landlord may does not elect to terminate this Lease (as hereinafter provided), Landlord shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the tenancy hereby created Leased Premises, to the extent of the insurance proceeds available therefore. In the event (a) the Capital Center in which the Leased Premises are located shall be destroyed or substantially damaged by giving a casualty not covered by Landlord's insurance, or (b) such Capital Center shall be destroyed or rendered untenantable to Tenant five an extent in excess of fifty percent (550%) days prior written notice of the first floor area by a casualty covered by Landlord's insurance, or (c) the holder of a mortgage, deed of trust or other lien on the Capital Center at the time of the casualty elects, pursuant to such mortgage, deed of trust, or other lien, to require the use of all or part of Landlord's insurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, deed of trust, or other lien, then Landlord may elect either to terminate this Lease or to proceed to rebuild and repair the Leased Premises. Landlord shall give written notice to Tenant of such election so to do, which notice shall be given, if at all, within the sixty (60) days following after the date occurrence of said occurrencesuch casualty and if it elects to rebuild and repair the Leased Premises, shall proceed to do so with reasonable diligence and at its sole cost and expense.
Section 12.3 Landlord's obligations to rebuild and repair under this Article XII shall in any event be limited to restoring the Leased Premises to substantially the condition in which the same existed prior to such casualty, exclusive of any alterations, additions, improvements, fixtures, and equipment installed by Tenant, or Landlord's Work, if any, to substantially the same condition in which the same existed prior to the casualty, as the case may be. Rent Landlord further agrees that promptly after completion of such work by it, Landlord will proceed or Landlord will, at its option, cause Tenant to proceed with reasonable diligence and at Tenant's sole cost and expense to restore, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant.
Section 12.4 Tenant agrees that during any period of reconstruction or repair of the Leased Premises it will continue the operation of its business within the Leased Premises to the extent practicable. During the period from the occurrence of the casualty until Landlord's repairs are completed, the Minimum Annual Rental shall be adjusted reduced to such extent as may be fair and reasonable under the circumstances; however, there shall be no abatement of additional rent or other charges provided for herein. In the event that Landlord is required to make structural repairs to the Leased Premises for damages to the Leased Premises not caused by Tenant's actions and such repairs result in a reduction of the date amount of such termination.
13.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of space available to Tenant under this Lease, then the direction and supervision rent for the Leased Premises will xxxxx by an amount equal to the percentage of Landlord and rent shall area which is unavailable for use by Tenant for any day in which the Leased Premises are not be abatedavailable.
Appears in 1 contract
DAMAGES BY CASUALTY. 13.1 If Tenant shall give immediate written notice to the demised premises shall be damaged Landlord of any damage caused to the Demised Premises by fire, the elements, unavoidable accident fire or other casualty, but .
13.2 If the Demised Premises are not thereby rendered untenantable in whole, damaged or partdestroyed by fire or other casualty (“Casualty”), Landlord shall at its own expense cause such damage to be repairedwill, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following after the date of said occurrencethe Casualty, written notice notify Tenant of the number of days, from the date of the Casualty, that Landlord estimates will be required to complete the repair and restoration (“Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date’s Casualty Notice”).
13.2 13.3 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center Demised Premises shall be damaged or destroyed by fire or other causeCasualty insurable under standard fire and extended coverage insurance and Landlord does not elect to terminate this Lease as hereinafter provided, notwithstanding Landlord shall proceed with reasonable diligence to rebuild and repair the Demised Premises, provided that the demised premises may repair of any damage which is exclusively caused by the negligence or willful misconduct of Tenant or any Tenant Parties shall be unaffected paid by Tenant. In the event (a) the building in which the Demised Premises are located is destroyed or substantially damaged by a casualty not covered by Landlord’s insurance, or (b) such fire building is destroyed or rendered untenantable to an extent in excess of thirty percent (30%) of the floor area by a casualty covered by Landlord’s insurance, or (c) the holder of a mortgage, deed of trust or other causelien on such building at the time of the casualty elects, pursuant to such mortgage, deed of trust or other lien, to require the use of all or part of Landlord’s insurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, deed of trust or other lien, or (d) the Demised Premises shall be damaged to the extent of 50% or more of the cost of replacement, or (e) Tenant fails to pay any repair costs for which it is liable within thirty (30) days of invoice, then Landlord may elect either to terminate this Lease or to proceed to rebuild and repair the Demised Premises.
13.4 If a material portion of the Demised Premises is damaged by Casualty such that Tenant is prevented from conducting its business in the Demised Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord’s Casualty Notice estimates that the damage caused thereby cannot be repaired within one hundred eighty (180) days after the date of the Casualty, then Tenant may terminate this Lease and the tenancy hereby created by giving delivering written notice to Tenant five Landlord of its election to terminate within thirty (530) days prior written notice after Xxxxxx’s receipt of Landlord's election so ’s Casualty Notice.
13.5 Landlord’s obligation to dorebuild and repair under this Article 13 shall in any event be limited to restoring the Demised Premises to substantially the same condition in which the same existed prior to the casualty, which notice but in no event shall Landlord be givenrequired to expend an amount greater than the insurance proceeds actually received by Landlord in connection with such casualty. Xxxxxx agrees that promptly after completion of such work by Xxxxxxxx, if Xxxxxx will proceed with reasonable diligence and at allXxxxxx’s sole cost and expense to restore, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant.
13.6 Xxxxxx agrees that during any period of reconstruction or repair of the Demised Premises, it will continue the operation of its business within the sixty (60) days following Demised Premises to the date of said occurrenceextent practicable. Rent shall be adjusted as During the period from the occurrence of the date casualty until Xxxxxxxx’s repairs are completed, Rent and all other charges will equitably xxxxx in proportion to the nature and extent of such termination.
13.3 Notwithstanding the provisions interference with Xxxxxx’s normal operation of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting its business from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abatedDemised Premises.
Appears in 1 contract
Samples: Lease (Sg Blocks, Inc.)
DAMAGES BY CASUALTY. 13.1 If 17.1 Tenant must give immediate written notice to the demised premises shall be damaged Landlord of any damage caused to the Demised Premises by fire, the elements, unavoidable accident fire or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 17.2 In the event that fifty (50%) percent the Demised Premises are damaged or more destroyed by fire or any other casualty, regardless of the rentable area extent of the Shopping Center shall be damage or destruction, Landlord agrees to deliver to Tenant, within ninety (90) days after Tenant delivers to Landlord the written notice required by the terms of Section 17.1 above, a realistic construction schedule, prepared by a reputable general contractor acceptable to Landlord, setting forth such general contractor's estimated time periods to substantially complete the repair and reconstruction. Thereafter, within six (6) months of the date of the damage or destruction, Landlord must begin the repair, replacement, or reconstruction of the damaged or destroyed building or improvement and pursue the repair, reconstruction or replacement with reasonable diligence so as to restore the building to substantially the same condition it was in before the casualty.
17.3 In the event the Demised Premises are damaged or destroyed by fire or other causecasualty, notwithstanding that and the demised premises may be unaffected by such fire holder of any mortgage, deed of trust or other causelien senior to this Lease elects under the terms of its security documents to apply all or any portion of the insurance proceeds to the reduction of Landlord's indebtedness, then Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, if at all, within the sixty (60) days following after Landlord delivers the Construction Schedule to Tenant. Any termination under this Section 17.3 will be effective on the date such notice is delivered to Tenant. If Landlord fails to terminate this Lease in the manner set forth above, then Landlord will be deemed to have waived the termination right under this Section 17.3.
17.4 Tenant agrees that during any period of said occurrence. Rent shall be adjusted as reconstruction or repair of the date Demised Premises, it will continue the operation of such termination.
13.3 Notwithstanding its business within the provisions of Section 13.1 of this Article, if Demised Premises to the demised premises shall be damaged by fire or other causes resulting extent practicable. During the period from the fault or negligence occurrence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and any casualty at the expense of Tenant Demised Premises until Landlord's required repairs are completed, the Base Rent will be reduced to such extent as may be fair and reasonable under the direction and supervision circumstances; however, there will be no abatement of Landlord and rent shall not be abatedthe other charges provided for in this Lease.
Appears in 1 contract
DAMAGES BY CASUALTY. 13.1 If 15.1 Tenant shall give immediate written notice to Landlord of any damage caused to the demised premises shall be damaged Demised Premises by fire, the elements, unavoidable accident fire or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 15.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center Demised Premises shall be damaged or destroyed by fire or other causecasualty insured under standard fire and extended coverage insurance, notwithstanding that the demised premises may be unaffected by such fire or other cause, and Landlord may does not elect to terminate this Lease as hereinafter provided, Landlord shall proceed with reasonable diligence, at its sole cost and expense, to rebuild and repair the tenancy hereby created Demised Premises. In the event (a) the Shopping Center shall be destroyed or substantially damaged by giving a casualty not covered by Landlord's insurance or (b) the Shopping Center shall be destroyed and untenantable to Tenant five an extent in excess of fifty percent (550%) days prior written notice of the floor area by a casualty covered by Landlord's insurance, or (c) the holder of a mortgage, deed of trust or other lien on the Demised Premises at the time of the casualty elects, pursuant to such mortgage, deed of trust or other lien, to require the use of all or part of Landlord's insurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, deed of trust or other lien, then Landlord may elect either to terminate this Lease or to proceed to rebuild and repair the Demised Premises. Landlord shall give written notice to Tenant of such election so to do, which notice shall be given, if at all, within the sixty (60) days following after the date occurrence of said occurrencesuch casualty, and if it elects to rebuild and repair, shall proceed to do so with reasonable diligence and at its sole cost and expense.
15.3 Landlord's obligation to rebuild and repair under this Article XV shall in any event be limited to restoring the Demised Premises to substantially the condition in which the same existed prior to such casualty, exclusive of any alterations, additions, improvements, fixtures and equipment installed by Tenant or Landlord's Work, as described in Exhibit B, if any, to substantially the same condition in which the same existed prior to the casualty, as the case may be. Rent Tenant agrees that promptly after completion of such work by Landlord, Tenant will proceed with reasonable diligence and at Tenant's sole cost and expense to restore, repair and replace all alterations, additional improvements, fixtures, signs and equipment installed by Tenant, all items of Tenant's Work as described in Exhibit: B.
15.4 Tenant agrees that during any period of reconstruction or repair of the Demised Premises, it will continue the operation of its business within the Demised Premises to the extent practicable. At Landlord's sole discretion, during the period from the occurrence of the casualty until Landlord's repairs are completed, the Minimum Guaranteed Rental shall be adjusted reduced to such extent as of may be fair and reasonable under the date of such terminationcircumstances.
13.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of 15.5 Tenant or will secure at Tenant's agentssole cost Property Insurance Coverage normally covered in a Fire and Extended Coverage Policy. This coverage is to provide coverage for Tenant's equipment, employeesfixtures, invitees, visitors or uninvited visitors the same alterations and improvements and/or betterments. Loss of rents coverage shall also be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abatedincluded.
Appears in 1 contract
Samples: Lease Agreement (Etravnet Com Inc)
DAMAGES BY CASUALTY. 13.1 12.1 If the demised premises shall be damaged by fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 12.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center Propeerty shall be damaged or destroyed by fire or other cause, notwithstanding that the demised premises may be unaffected by such fire or other cause, Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, if at all, within the sixty (60) days following the date of said occurrence. Rent shall be adjusted as of the date of such termination.
13.3 12.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abated.
Appears in 1 contract
Samples: Lease Agreement
DAMAGES BY CASUALTY. 13.1 If 17.1 Tenant shall give immediate written notice to the demised premises Landlord of any damage caused to the Demised Premises by fire or other casualty.
17.2 In the event that the Demised Premises shall be damaged by fire, the elements, unavoidable accident or destroyed fire or other casualty, but are casualty insurable under standard fire and extended coverage Insurance and Landlord or Tenant does not thereby rendered untenantable in whole, or partelect to terminate this lease as hereinafter provided, Landlord shall proceed with reasonable diligence and at its own sole cost and expense cause such damage to be repaired, rebuild and repair the rent shall not be abatedDemised Premises. If by reason of Landlord fails to complete such occurrence repair or rebuilding within 180 days from the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion date of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrencecasualty, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord Tenant may at its election terminate this Lease at any time thereafter prior to such completion by written note to Landlord. In the event (a) the building in which the Demised Premises are located is destroyed or substantially damaged by a casualty not covered by Landlord's or Tenant's insurance, or (b) such building is destroyed or rendered untenantable to an extent in excess of fifty percent (50%) of the first floor area by a casualty covered by Landlord's Insurance, or any portion of Tenant's service center is destroyed, (c) the holder of a mortgage, deed of trust or other lien on such building at the time of the casualty elects, pursuant to such mortgage, deed of trust or other lien, to require the use of all or part of Landlord's Insurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, deed of trust or other lien, or (d) Landlord and Tenant determine within 60 days of the tenancy hereby created by giving casualty that restoration of the Demised Premises cannot be completed within 180 days of the casualty, or (e) the Demised Premises shall be damaged to the extent of 50% or more of the cost of replacement, then Landlord or Tenant may elect either to terminate this lease. Written notice to Tenant or Landlord of such election shall be delivered to the other party within the sixty (60) days following after the date occurrence of said occurrencesuch casualty and if such election to terminate is so delivered, written notice of Landlord shall proceed to rebuild and repair with reasonable diligence and at its sole cost and expense.
17.3 Landlord's election so obligation to do andrebuild and repair under this Article 17 shall in any event be limited to restoring one of the following (as may be applicable):
(a) If this lease does not include an attached exhibit describing Landlord's Initial construction responsibility ("Landlord's Work"), restoring the Demised Premises to substantially the condition in which the same existed prior to such casualty, exclusive of any alterations, additions, Improvements, fixtures and equipment installed by Tenant, or (b) restoring Landlord's Work, as described in the event applicable exhibit attached to this lease (if such an exhibit is attached), to substantially the same condition in which the same existed prior to the casualty. Tenant agrees that promptly after completion of such terminationwork by Landlord, rent Tenant will proceed with reasonable diligence and at Tenant's sole cost and expense to restore, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant, or, if an exhibit describing Tenant's Work is attached hereto, all Items of Tenant's Work as described in such exhibit, as the case may be.
17.4 Tenant agrees that during any period of reconstruction or repair of the Demised Premises, it will continue the operation of Its business within the Demised Premises to the extent practicable. During the period from the occurrence of the casualty until Landlord's repairs are completed, the minimum guaranteed rental and all charges hereunder shall be adjusted reduced to such extent as of such date.
13.2 In may be fair and reasonable under the event that fifty (50%) percent or more of the rentable area of the Shopping Center circumstances which shall be damaged or destroyed by fire or other cause, notwithstanding that the demised premises may be unaffected by such fire or other cause, Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, 100% if at all, within the sixty (60) days following the date of said occurrence. Rent shall be adjusted as of the date of such termination.
13.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors service center is inoperable or uninvited visitors substantially compromised and Tenant does not use or occupy the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abatedDemised Premises during such period.
Appears in 1 contract
Samples: Industrial Complex Lease (Pilot Network Services Inc)
DAMAGES BY CASUALTY. 13.1 If 17.1 Tenant shall give immediate written notice to Landlord of any damage caused to the demised premises shall be damaged Demised Premises by fire, the elements, unavoidable accident fire or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 17.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center Demised Premises shall be damaged or destroyed by fire or other cause, notwithstanding that the demised premises may be unaffected by such casualty insurable under standard fire or other causeand extended coverage insurance and Landlord does not elect to terminate this lease as hereinafter provided, Landlord may shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the Demised Premises; provided, however, in the event that such repair and rebuilding shall reasonably be expected to require more than two hundred and ten (210) days, Tenant shall have the right to terminate this Lease and the tenancy hereby created by giving lease upon written notice to Tenant five Landlord delivered to Landlord within thirty (530) days prior written notice of Tenant's receipt of Landlord's election so Election Notice (as defined below). In the event (a) the building in which the Demised Premises are located is destroyed or substantially damaged by a casualty not covered by Landlord's insurance, or (b) such building is destroyed or rendered untenantable to doan extent in excess of fifty percent (50%) of the first floor area by a casualty covered by Landlord's insurance, which notice or (c) the holder of a mortgage, deed of trust or other lien on such building at the time of the casualty elects, pursuant to such mortgage, deed of trust or other lien, to require the use of all or part of Landlord's insurance proceeds in satisfaction of all or part of the indebtedness secured by the mortgage, deed of trust or other lien, or (d) the Demised Premises shall be givendamaged to the extent of fifty percent (50%) or more of the cost or replacement, if at all, then Landlord may elect either to terminate this lease or to proceed to rebuild and repair the Demised Premises. Landlord shall give written notice to Tenant ("Landlord's Election Notice") of such election within the sixty (60) days following after the occurrence of such casualty and, if it elects to rebuild and repair, shall proceed to do so with reasonable diligence and at its sole cost and expense; provided, however, in the event that such repair and rebuilding shall reasonably be expected to require more than two hundred and ten (210) days, Tenant shall have the right to terminate this lease upon written notice to Landlord delivered to Landlord within thirty (30) days of tenant's receipt of Landlord's Election Notice. Provided, further, in the event (i) of a fire or other casualty to the Demised Premises where Landlord has elected to rebuild the Demised Premises and Tenant has not terminated the lease pursuant to a termination right contained in this Section 17.2, and (ii) the Demised premises are not materially rebuilt by Landlord in accordance with Section 17.3 below within two hundred and ten days (210) from the date of said occurrencethe casualty, then Tenant may provide Landlord with not less than thirty (30) days' prior written notice of its intent to terminate this lease ("Tenant's Termination Notice"). Rent Provided, however, Tenant's right to terminate the lease shall be adjusted as voided if the Demised Premises are materially rebuilt prior to the termination date set out in Tenant's Termination notice. In addition to the foregoing, Tenant shall have the right to terminate this lease upon written notice to Landlord in the event that a casualty to the building containing the Demised Premises during the last twelve (12) months of the date lease term destroys or renders the Demised Premises untenantable to an extent in excess of thirty percent (30%) of the floor area thereof.
17.3 Landlord's obligation to rebuild and repair under this Article 17 shall in any event be limited to restoring Landlord's Work, as described in the applicable exhibit attached to this lease (if such an exhibit is attached), to substantially the same condition in which the same existed prior to the casualty. Tenant agrees that promptly after completion of such terminationwork by Landlord, Tenant will proceed with reasonable diligence and at Tenant's sole cost and expense to restore, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant, and, if an exhibit describing Tenant's Work is attached hereto, all items of Tenant's Work as described in such exhibit.
13.3 Notwithstanding 17.4 Tenant agrees that during any period of reconstruction or repair of the provisions Demised Premises, it will continue the operation of Section 13.1 of this Article, if its business within the demised premises shall be damaged by fire or other causes resulting Demised Premises to the extent practicable. During the period from the fault or negligence occurrence of Tenant or Tenantthe casualty until Landlord's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abated.repairs are completed,
Appears in 1 contract
Samples: Industrial Complex Lease (Apbiotech)
DAMAGES BY CASUALTY. 13.1 12.1 If the demised premises shall be damaged by fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole, or part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence the demised premises shall be rendered untenantable only in part, Landlord shall at its own expense cause the damage to be repaired, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the demised premises rendered untenantable. If the demised premises shall be rendered wholly untenantable by reason of such occurrence, the Landlord shall at its own expense cause such damage to be repaired, and the fixed minimum rent shall xxxxx until the demised premises have been restored and rendered tenantable, or Landlord may at its election terminate this Lease and the tenancy hereby created by giving to Tenant within the sixty (60) days following the date of said occurrence, written notice of Landlord's election so to do and, in the event of such termination, rent shall be adjusted as of such date.
13.2 12.2 In the event that fifty (50%) percent or more of the rentable area of the Shopping Center Property shall be damaged or destroyed by fire or other cause, notwithstanding that the demised premises may be unaffected by such fire or other cause, Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, if at all, within the sixty (60) days following the date of said occurrence. Rent shall be adjusted as of the date of such termination.
13.3 12.3 Notwithstanding the provisions of Section 13.1 of this Article, if the demised premises shall be damaged by fire or other causes resulting from the fault or negligence of Tenant or Tenant's agents, employees, invitees, visitors or uninvited visitors the same shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall not be abated.
Appears in 1 contract
Samples: Commercial Lease