Common use of DAMAGES TO PREMISES Clause in Contracts

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 2 contracts

Samples: Office Lease (Global Axcess Corp), Office Lease (Global Axcess Corp)

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DAMAGES TO PREMISES. If In the event the Leased Premises shall be are hereafter damaged or destroyed or rendered partially damaged untenable for their accustomed uses by fire or other casualty insured under Landlord's insurance policiesthe coverage which Landlord is obligated to carry pursuant to ARTICLE 19(a) hereof, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shallthen, except as otherwise provided hereinhereinafter provided, Landlord shall promptly repair said premises and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) same to substantially to the condition thereof in which they were immediately prior to the happening of such damage or destruction; limitedcasualty, however, provided that Landlord shall not be obligated to the extent expend for such repair an amount in excess of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part recovered as a result of a risk which is not covered by Landlordsuch damage and that in no event shall Landlord be required to repair or replace Tenant's insurance policies; (iii) Landlord's lender does not permit a sufficient amount stock in trade, interior partitions, fixtures, equipment, furniture, furnishings, wall covering, floor covering and draperies. From the date of such casualty until the Leased Premises are so repaired and restored, Minimum Annual Rental payments and all items of additional rental, except Taxes and Insurance, shall xxxxx in such proportion as the square footage of the insurance proceeds Leased Premises thus destroyed or rendered untenantable bears to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years total square footage of the Term; or (v) Lease Premises, provided, however, that in the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of event fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair Leased Premises or the damage as aforesaid, Shopping Center of which they are a part be hereafter destroyed or to cancel rendered untenable by fire or other casualty during the term of this Lease (based upon the cost to replace the premises immediately prior to such fire or other casualty as shown by written notice certificate of cancellation given to Tenant within sixty Landlord's architect) or if one (601) days after the date of or more department stores are damaged by fire or other casualty such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen that they will likely remain closed for business for a period exceeding twelve (1512) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused therebymonths, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect right to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease effective as of the effective date of such casualty, by giving Tenant, within thirty (30) days after the termination happening of this Leasesuch casualty, subject, however, to the provisions for abatement written notice of Rent hereinafter set forthsuch termination. Unless this Lease is terminated as aforesaidIf said notice be given within said thirty (30) day period, this Lease shall remain in full force terminate and effectMinimum Annual Rental and all other charges and items of additional rental shall xxxxx as aforesaid from the happening of such casualty, and Landlord shall promptly repay to Tenant any rental theretofore paid in advance which has not been earned at the date of such casualty. If said notice be not given and Landlord is required or elects to repair or rebuild the Leased Premises as herein provided, then Tenant shall promptly repair, restore, or repair and replace Tenant's improvementsits merchandise, trade fixtures, decorations, signs, furnishings and contents in the Premises equipment in a manner and to at least a condition equal to that existing prior to their its damage or destruction. Except as herein expressly provided to the contrary, and this Lease shall not terminate nor shall there be any abatement of rental or other charges or items of additional rental as the proceeds result of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such a fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Management and Leasing Agreement (Gotham Golf Corp)

DAMAGES TO PREMISES. If the Premises shall be partially or the Shopping Center are damaged or destroyed by fire fire, storm, Act of God, war, riot, unavoidable accident, public enemy or other casualty insured under to an extent greater than twenty percent (20%) of the replacement cost thereof, Landlord reserves the right, at Landlord's insurance policies’s sole discretion, of either terminating this Lease or restoring the Premises (if and if Landlord's lender(sto the extent damaged) shall permit insurance proceeds paid as a result thereof to the condition in which they were prior to such damage or destruction (not to include any replacement or other installation of trade fixtures, equipment or other property of Tenant ). If Landlord should elect to reconstruct the Premises, Tenant is to be so used, then upon receipt advised in writing by Landlord within a period of the insurance proceeds, forty five (45) days after said damage or destruction that Landlord shall, except will as otherwise provided herein, promptly soon as practicable repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, howeverabove set forth. During the time required for repairing and restoring the Premises as aforesaid, to the extent of that the insurance proceeds received by Landlord. If by reason of such occurrence: (i) same are rendered untenantable the Premises is rendered wholly untenantable; (ii) the Premises is damaged fixed minimum rent shall xxxxx on a per diem basis in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as proportion to that portion of the Premises rendered untenantableuntenantable and the Base Receipts amount used in computing percentage rent shall be reduced in like manner. If the Premises, in either event or any part thereof, should be damaged by fire, storm, war, riot, Act of Gold, unavoidable accident, public enemy or other casualty to an extent that is less than twenty percent (unless 20%) of the Lease replacement cost, Landlord shall, to the extent that the same is terminatedcovered by insurance repair such damage and the rent shall not be abated. If by reason of any such event, as aforesaid) from the date of such casualty until the Premises have been substantially repaired shall be rendered untenantable in part, Landlord shall speedily and restoredas soon as practicable after such destruction repair and restore the Premises to the condition in which they were prior to such damage or destruction (not to include any replacement or other installation of trade fixtures, equipment or other property of Tenant). Notwithstanding the above, if the Premises are damaged or destroyed by a casualty not covered by Landlord’s insurance, or until Tenant's business operations are restored if such damage to the Premises is suffered during the last two year of the then current term of this Lease and the damage is sufficiently extensive to result in the entire Premises, whichever shall first occur. Tenant shall continue the operation suspension of Tenant's business in ’s business, however temporary, or if the proceeds of any insurance are not made available to Landlord by its lender, then Landlord at its option may elect not to repair the Premises or any part thereof not and upon so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty notifying Tenant in writing this Lease shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement terminate as of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or date on which the damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restorationoccurred.

Appears in 1 contract

Samples: County of Charleston   Lease Agreement (Dgse Companies Inc)

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's ’s insurance policies, and if Landlord's ’s lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's ’s trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's ’s insurance policies; (iii) Landlord's ’s lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the the-Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty forty-five (6045) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen thirty (1530) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eightytwenty-first (181st121st) and one hundred ninetythirty-sixth (196th136th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty twenty (180120) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty twenty (180120) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty twenty (180120) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required requited for completion has expired with the Building not having been substantially restored. In such case, Tenant's ’s fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's ’s additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's ’s liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement Abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's ’s improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a a. condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's ’s business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's ’s business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's ’s subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Office Lease (SOI Holdings, Inc.)

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises same (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contentscontents unless caused by Landlord's negligence or misconduct) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (ia) the Premises is are rendered wholly untenantable; (iib) the Premises is are damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iiic) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (ivd) the Premises is are damaged in whole or in part during the last two years year of the Lease Term; or (ve) the Building building containing the Premises is damaged (whether or not the Premises is are damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen thirty (1530) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined causes beyond its reasonable control (including, without limitation, those encompassed in Section 2the meaning of the term force majeure) ["Delays"], from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the such cause for the Delays delay within fifteen (15) days after of the occurrence thereof, such said notice to contain the reason for the Delays delay and a good faith estimate of the period of the Delays delay caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays such delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and upon Landlord's determination that it will restore the Premises, Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is are rendered wholly untenantable, then the Rent and other charges payable by Tenant shall be fully abated, or if only partially damageddamaged and Tenant can reasonably continue to conduct business, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until fifteen (15) days after the Premises have been substantially repaired and restored, and Tenant has received notice from Landlord, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of RentRent or other charges. Except for the abatement of the Rent and other charges hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Office Lease (Capital Bank Corp)

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceedscasualty, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises same (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (ia) the Premises is are rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policiesb); (iiic) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (ivd) the Premises is are damaged in whole or in part during the last two years year of the Lease Term; or (ve) the Building building containing the Premises is damaged (whether or not the Premises is are damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined causes beyond its reasonable control (including, without limitation, those encompassed in Section 2the meaning of the term force majeure) ["Delays"], from completing the restoration ----- ------- within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the such cause for the Delays delay within fifteen (15) days after of the occurrence thereof, such said notice to contain the reason for the Delays delay and a good faith estimate of the period of the Delays delay caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is are rendered wholly untenantable, then the Rent and other charges payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until fifteen (15) days after notice by Landlord to Tenant that the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent and other charges hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Office Lease (Incara Pharmaceuticals Corp)

DAMAGES TO PREMISES. If the Building or Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to a condition at least equal to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value replacement cost thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen thirty (1530) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by (x) written notice given to Landlord within thirty (30) days of the date of such occurrence if the Premises is damaged in whole or in part during the last twelve (12) months of the Term and the period for repair to the Premises shall exceed ninety (90) days; or (y) written notice given to Landlord at any time between the one hundred eightyfifty-first day (181st151st) and one hundred ninetysixty-sixth sixty (196th166th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty fifty (180150) days of such casualty. However, if Landlord is prevented by Delays as defined in Section SECTION 2, from completing the restoration within said one hundred eighty fifty (180150) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty fifty (180150) days, equal to the Delays in which to restore the damaged areas of the BuildingBuilding including the Premises; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forthforth and any prepaid Rent shall be refunded to Tenant upon the termination of this Lease. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly with reasonable promptness repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal comparable to that existing prior to their damage or destructionother Class "A" office buildings in the Maryland Farms Office Park in Brentwood, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacementTennessee. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantableuntenantable or inaccessible to Tenant for Tenant's Permitted Use, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantableuntenantable or inaccessible to Tenant for Tenant's Permitted Use, in either event (unless the this Lease is terminated, terminated as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored Substantially Complete (as determined by the standards set forth in the entire Premises, whichever shall first occurWorkletter). Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business managementas determined by Tenant in Tenant's reasonable judgment. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Office Lease (Lifepoint Hospitals Holdings Inc)

DAMAGES TO PREMISES. If the Premises shall be partially Premises, the Building/s or any part thereof is damaged by fire or other casualty insured under Landlord's insurance policiescasualty, cause or condition whatsoever and if Landlord's lender(s) Landlord shall permit insurance proceeds paid as a result thereof determine not to be so used, then upon receipt of the insurance proceedsrestore said Premises or Building/s, Landlord shallmay, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant given within sixty (60) days after such damage, terminate this Lease. Such termination shall become effective as of the date of such occurrence, and thereupon the damage. If this Lease is not terminated as above provided and if the Premises are made partially or wholly untenantable, Landlord, at its expense, shall terminate. Tenant shall vacate and surrender restore the same with reasonable promptness to the condition in which Landlord furnished the Premises to Tenant at the commencement of the Lease Term as to those items that were provided to the Premises at Landlord's expense without any reimbursement by Tenant. Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed shall be under no obligation to restore any alteration, improvements or additions to the damaged portions Premises made by Tenant or paid for by Tenant, including, but not limited to, any of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the cause initial tenant finish done or paid for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust or any subsequent changes, alterations or additions made by Tenant for the purposes or reimbursed by Tenant. If as a result of such repair, restoration, or replacement. If, by reason of such fire or other casualty, cause or condition whatsoever the Premises are made partially or wholly untenantable and, if Landlord has not given the sixty (60) days notice above provided for and fails within one hundred twenty (120) days after such damage occurs to eliminate substantial interference with Tenant's use of said Premises or substantially to restore said Premises, Tenant may terminate this Lease as of the end of said one hundred twenty (120) days by notice to Landlord given not later than five (5) days after expiration of said one hundred twenty (120) day period. If the Premises are rendered totally untenantable but this Lease is rendered wholly untenantablenot terminated, then all rent shall xxxxx from the Rent payable by Tenant shall be fully abated, date of the fire or if only partially damaged, such Rent other relevant cause or condition until the Premises are ready for occupancy and other charges shall be abated proportionately as reasonably accessible to that Tenant. If a portion of the Premises rendered is untenantable, rent shall be prorated on a per diem basis and apportioned in either event (unless accordance wit the Lease portion of the Premises which is terminated, as aforesaid) from usable by the date of such casualty Tenant until the Premises have been substantially repaired and restored, or until damaged part is ready for the Tenant's business operations are restored in the entire Premisesoccupancy. In all cases, whichever due allowance shall first occur. Tenant shall continue the operation be made for reasonable delay caused by adjustment of Tenant's business in the Premises insurance loss, strikes, labor difficulties or any part thereof not cause beyond Landlord's reasonable control. For the purposes of this Lease, said Premises shall be considered tenantable so damaged during any such period long as and to the extent reasonably practicable from that the standpoint of prudent business managementPremises are occupied. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forthIn any event, Tenant shall not be entitled to, and hereby waives, all claims against Landlord he responsible for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repairremoval, or restoration, when applicable, of all its damaged property and debris from the Premises, upon request by Landlord or else Tenant must reimburse Landlord for the cost of removal.

Appears in 1 contract

Samples: Standard Lease (Interactive Technologies Com LTD)

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord if the Premises and any areas necessary for access to the Premises cannot be repaired in one hundred eighty (180) days, or at any time between the one hundred ----------------- T /s/ RDG INITIALS -------- LL /s/ illegible ----------------- eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined in Section SECTION 2, from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Lease Agreement (Software Spectrum Inc)

DAMAGES TO PREMISES. If the Premises shall be partially Premises, the Building/s or any part thereof is damaged by fire or other casualty insured under Landlord's insurance policiescasualty, cause or condition whatsoever and if Landlord's lender(s) Landlord shall permit insurance proceeds paid as a result thereof determine not to be so used, then upon receipt of the insurance proceedsrestore said Premises or Building/s, Landlord shallmay, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant given within sixty (60) days after such damage, terminate this Lease. Such termination shall become effective as of the date of such occurrence, and thereupon the damage. If this Lease is not terminated as above provided and if the Premises are made partially or wholly untenantable, Landlord, at its expense, shall terminate. Tenant shall vacate and surrender restore the same with reasonable promptness to the condition in which Landlord furnished the Premises to Tenant at the commencement of the Lease Term as to those items that were provided to the Premises at Landlord's expense without any reimbursement by Tenant. Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed shall be under no obligation to restore any alteration, improvements or additions to the damaged portions Premises made by Tenant or paid for by Tenant, including, but not limited to, any of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the cause initial tenant finish done or paid for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust or any subsequent changes, alterations or additions made by Tenant for the purposes or reimbursed by Tenant. If as a result of such repair, restoration, or replacement. If, by reason of such fire or other casualty, cause or condition whatsoever the Premises are made partially or wholly untenantable and, if Landlord has not given the sixty (60) days notice above provided for and fails within one hundred twenty (120) days after such damage occurs to eliminate substantial interference with Tenant's use of said Premises or substantially to restore said Premises, Tenant may terminate this Lease as of the end of said one hundred twenty (120) days by notice to Landlord given not later than five (5) days after expiration of said one hundred twenty (120) day period. If the Premises are rendered totally untenantable but this Lease is rendered wholly untenantablenot terminated, then all rent shall abate from the Rent payable by Tenant shall be fully abated, date of the fire or if only partially damaged, such Rent other relevant cause or condition xxxxl the Premises are ready for occupancy and other charges shall be abated proportionately as reasonably accessible to that Tenant. If a portion of the Premises rendered is untenantable, rent shall be prorated on a per diem basis and apportioned in either event (unless accordance wit the Lease portion of the Premises which is terminated, as aforesaid) from usable by the date of such casualty Tenant until the Premises have been substantially repaired and restored, or until damaged part is ready for the Tenant's business operations are restored in the entire Premisesoccupancy. In all cases, whichever due allowance shall first occur. Tenant shall continue the operation be made for reasonable delay caused by adjustment of Tenant's business in the Premises insurance loss, strikes, labor difficulties or any part thereof not cause beyond Landlord's reasonable control. For the purposes of this Lease, said Premises shall be considered tenantable so damaged during any such period long as and to the extent reasonably practicable from that the standpoint of prudent business managementPremises are occupied. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forthIn any event, Tenant shall not be entitled to, and hereby waives, all claims against Landlord he responsible for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repairremoval, or restoration, when applicable, of all its damaged property and debris from the Premises, upon request by Landlord or else Tenant must reimburse Landlord for the cost of removal.

Appears in 1 contract

Samples: Standard Lease (Interactive Technologies Com LTD)

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises same (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (ia) the Premises is are rendered wholly untenantable; (iib) the Premises is are damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iiic) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (ivd) the Premises is are damaged in whole or in part during the last two years of the Lease Term; or (ve) the Building building containing the Premises is damaged (whether or not the Premises is are damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined causes beyond its reasonable control (including, without limitation, those encompassed in Section 2the meaning of the term FORCE MAJEURE) ("Delays"), from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the such cause for the Delays delay within fifteen (15) days after of the occurrence thereof, such said notice to contain the reason for the Delays delay and a good faith estimate of the period of the Delays delay caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is are rendered wholly untenantable, then the Rent and other charges payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.partially

Appears in 1 contract

Samples: Commencement Agreement (Onlinetradinginc Com Corp)

DAMAGES TO PREMISES. If the Premises shall be partially are damaged or destroyed by fire fire, storm, Act of God, war, riot, unavoidable accident, public enemy or other casualty insured under Landlord's insurance policiesto an extent greater than twenty percent (20%) of the replacement cost thereof or the damage cannot reasonably be repaired within one hundred twenty (120) days, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof Landlord reserves the right of either terminating this Lease or restoring the Premises. Tenant is to be so used, then upon receipt advised in writing by Landlord within a period of forty-five (45) days after said damage or destruction whether Landlord has elected to terminate the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly Lease or to repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior above set forth. If the Landlord elects to repair and restore the Premises, such damage or destruction; limited, howeverwork will be done as speedily and as soon as practicable. During the time required for repairing and restoring the Premises as aforesaid, to the extent of that the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is same are rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain xxxxx on a per diem basis in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as proportion to that portion of the Premises rendered untenantable. If the Premises, in either event or any part thereof, should be damaged by fire, storm, war, riot, Act of God, unavoidable accident, public enemy or other casualty to an extent that is less than twenty percent (unless 20%) of the Lease replacement cost and the damage can be repaired within one hundred twenty (120) days, Landlord shall, to the extent that the same is terminatedcovered by insurance, as aforesaid) from repair such damage and the date Rent shall not be abated. If by reason of any such casualty until event, the Premises have been substantially repaired shall be rendered untenantable in part, Landlord shall speedily and restoredas soon as practicable after such destruction repair and restore the Premises to the condition in which they were prior to such damage or destruction and during the time required for repairing or restoring, the Rent shall xxxxx on the portion of the Premises rendered untenantable. Notwithstanding the above, if the Premises are damaged or destroyed by a casualty not covered by Landlord’s insurance, or until Tenant's business operations are restored if damage to the Premises is suffered during the last two (2) years of the then-current term of this Lease and the damage is sufficiently extensive to result in the entire Premises, whichever shall first occur. Tenant shall continue the operation suspension of Tenant's business ’s business, however temporary, or if the proceeds of any insurance are not made available by a beneficiary in a deed of trust in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from Landlord, then Landlord at its option may elect not to repair the standpoint of prudent business management. However, if such damages or other casualty Premises and upon so notifying Tenant in writing this Lease shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement terminate as of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or date on which the damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restorationoccurred.

Appears in 1 contract

Samples: Lease Agreement (Metromedia International Group Inc)

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DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's ’s insurance policies, and if Landlord's ’s lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon Landlord’s receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises same as hereinafter defined (exclusive of improvements made by Tenant, Tenant's trade fixtures, equipment, furnishings, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction); limited, however, to the extent of the insurance proceeds actually received by Landlord. If by reason of such occurrence: (ia) the Premises is are rendered wholly untenantable; or (iib) the Premises is are damaged in whole or in part as a result of a risk which is not covered by Landlord's ’s insurance policies; or (iiic) Landlord's ’s lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; or (ivd) the Premises is are damaged in whole or in part during the last two years year of the Initial Lease Term; or (ve) the Building containing the Premises is damaged (whether or not the Premises is are damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaidaforesaid within one hundred twenty (120) days of damage, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease Table of Contents shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen thirty (1530) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eightytwenty-first (181st121st) and one hundred ninety-sixth fiftieth (196th150th) days day after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty twenty (180120) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2strike, act of God, unavailability of materials, weather, Tenant induced delays or other cause beyond its reasonable control, from completing the restoration within said one hundred eighty twenty (180120) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty twenty (180120) days, equal to the Delays period Landlord is delayed by causes beyond its reasonable control, in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of ’s termination period shall begin to run upon the expiration of Landlord's ’s additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's ’s liability for the Rent all rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for the prior abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's ’s improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition substantially equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is are rendered wholly untenantable, then the Rent all rent and other charges payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until fifteen (15) days after notice by Landlord to Tenant that the Premises have been substantially repaired and restored, or until Tenant's Tenant resumes or can resume its normal business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's ’s business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management, except for such abatement of Rent and other charges as hereinabove set forth. However, if such damages or other Table of Contents casualty shall be were caused by the gross negligence or other wrongful conduct of Tenant or of Tenant's ’s subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of RentRent or other charges. Except for the abatement of the Rent and other charges hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Borland Software Corp

DAMAGES TO PREMISES. If the Premises demised premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policiescause, the damages shall be repaired by and at the expense of Landlord within one hundred twenty (120) days of such damage and the rent until such repairs shall be made shall be apportioned according to the part of the demised premises which is usable by Tenant. In the event of partial damage, the rent shall be apportioned according to the percentage of area that is rendered substantially untenantable. If the demised premises are substantially damaged or are rendered substantially untenantable by fire or other cause, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant engineer certifies within sixty (60) days after the date of such occurrencecasualty that it cannot restore or rebuild the same within 180 days, or if the building shall be so damaged that Landlord shall decide to demolish it or to rebuild it, then or in any of such events Landlord may, within ninety (90) days after such fire or other cause, give Tenant a notice in writing of such decision, and thereupon the term of this Lease lease shall terminate. expire thirty (30) days thereafter and Tenant shall vacate the demised premises and surrender the Premises same to Landlord within fifteen (15) days after receipt of such notice of terminationLandlord. In additionIf Tenant shall not be in default under this lease then, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty (180) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaidlease under the conditions provided for in the sentence immediately preceding, Tenant's liability for the Rent and other charges reserved hereunder rent shall cease as of the effective date of day following the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forthcasualty. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property The demised premises shall be held in trust by Tenant deemed to be "substantially damaged" or "rendered substantially untenantable" for the purposes of such repair, restoration, or replacement. If, this paragraph if the loss by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion cause exceeds thirty (30%) percent of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date value of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restorationsaid premises.

Appears in 1 contract

Samples: Priceline Com Inc

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen thirty (1530) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eightytwenty-first (181st121st) and one hundred ninetythirty-sixth (196th136th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty twenty (180120) days of such casualty. However, if Landlord is prevented by Delays as defined in Section SECTION 2, from completing the restoration within said one hundred eighty twenty (180120) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty twenty (180120) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for (or abatement of Rent hereinafter set forth. Notwithstanding the foregoing, Landlord shall use commercially reasonable efforts to provide Tenant temporary space which is reasonably acceptable to Tenant during the time period in which the damage to the Building (including the Premises) is being repaired. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Office Lease (Medicalogic/Medscape Inc)

DAMAGES TO PREMISES. 19.1 If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceedscasualty, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of Tenant Improvements, other improvements made by Tenant, Tenant's ’s trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: , (ia) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is are damaged in whole or in part during the last two (2) years of the TermTerm (unless Tenant commits to renew the Lease pursuant to an outstanding renewal right); or (vb) the Building containing the Premises is damaged (whether or not the Premises is are damaged) to an extent of fifty percent (50%) or more of the then existing fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen the forty-five (1545) days after day period commencing upon Tenant’s receipt of such notice of termination. In addition, without limiting any other remedies Tenant may have under applicable law, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one two hundred eighty-seventy first (181st271st) and one two hundred ninety-eighty sixth (196th286th) days day after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the PremisesPremises but excluding Tenant Improvements, other improvements made by Tenant, Tenant’s trade fixtures, decorations, signs, and contents) within one two hundred eighty seventy (180270) days of such casualtycasualty (the “Rebuild Period”). However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day periodthe Rebuild Period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereofof the Delays, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord the Rebuild Period shall have an additional be extended by a period beyond said one hundred eighty (180) days, equal to the Delays in which to restore and Landlord shall diligently pursue restoration of the damaged areas of the BuildingBuilding to completion; and Tenant may not elect to terminate this Lease until said additional period required for completion the extended Rebuild Period has expired with the Building not having been substantially restored. In such casethe event the Rebuild Period is so extended, Tenant's ’s fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentenceRebuild Period as extended pursuant to this Article 19. Upon the termination of this Lease as aforesaid, Tenant's ’s liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter as set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain forth in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restorationSection 19.3 hereof.

Appears in 1 contract

Samples: Commencement Agreement (Healthways, Inc)

DAMAGES TO PREMISES. If (a) In the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof event of any partial damage (defined to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such mean damage or destruction; limited, howeverother than to Tenant owned alterations, to the extent repair cost of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises which damage or destruction is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of less than fifty percent (50%) or more of the fair market then replacement value thereofof the Premises (not including the value of the Land) just prior to said damage or destruction) or loss by fire or other casualty whatsoever to the Improvements or any part or portion thereof during the Term, then Tenant shall give immediate written notice thereof to Landlord may elect either if the same equals or exceeds $50,000.00, and shall, without regard to repair the damage as aforesaidavailability and adequacy of insurance proceeds for such purposes, with reasonable diligence at Tenant’s sole cost and expense, complete all necessary Repairs. Tenant covenants and agrees to commence efforts to settle the insurance claim promptly after any event of loss or casualty and to expeditiously, diligently and continuously prosecute such efforts to settlement, or to cancel this Lease by written notice failing settlement, the commencement of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen (15) days after receipt of such notice of terminationlitigation. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) event that settlement or collection cannot be obtained within one hundred eighty (180) days of after such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty (180) day periodcasualty or loss, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereofhas failed to diligently pursue such claim, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have the right, but not the obligation, to commence Repairs or to declare an additional period beyond said one hundred eighty (180) days, equal to the Delays in which to restore the damaged areas Event of Default. If any part or portion of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease Improvements is damaged or lost as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason result of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abatedlikewise, without regard to the availability and adequacy of insurance proceeds for such purpose, repair the part or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantableso damaged or lost. Such Repairs shall be without cost, in either event charge or expense of any kind to Landlord. Notwithstanding any other provisions hereof, if the Improvements are partially damaged during the last two (unless 2) years of this Lease, if the cost of repair exceeds twenty-five percent (25%) of the replacement value of the Premises (not including the value of the Land), Landlord or Tenant shall have the right to terminate this Lease is terminated, as aforesaidby written notice to the other not later than forty-five (45) days from the date of damage and all insurance proceeds (except for insurance proceeds for Tenant’s personal property) resulting from such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by paid over to Landlord and Landlord shall have the negligence or other wrongful conduct of right to adjust, compromise and settle any and all claims related thereto in its sole and absolute discretion without any liability to Tenant or of Tenant's subtenantswhatsoever, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, and Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of have no further obligations under the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restorationLease.

Appears in 1 contract

Samples: Lease Agreement (Select Comfort Corp)

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty forty-five (6045) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen (15) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eightytwenty-first (181st121st) and one hundred ninety-sixth fiftieth (196th150th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty twenty (180120) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty twenty (180120) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then Landlord shall have an additional period beyond said one hundred eighty twenty (180120) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen thirty (1530) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Metavante Corp

DAMAGES TO PREMISES. If the Premises shall be partially damaged by fire or other casualty insured under Landlord's insurance policies, and if Landlord's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the Premises (exclusive of improvements made by Tenant, Tenant's trade fixtures, decorations, signs, and contents) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (i) the Premises is rendered wholly untenantable; (ii) the Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord's insurance policies; (iii) Landlord's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises is damaged in whole or in part during the last two years of the Term; or (v) the Building containing the Premises is damaged (whether or not the Premises is damaged) to an extent of fifty percent (50%) or more of the fair market value thereof, then Landlord may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate. Tenant shall vacate and surrender the Premises to Landlord within fifteen thirty (1530) days after receipt of such notice of termination. In addition, Tenant may also terminate this Lease by written notice given to Landlord at any time between the one hundred eightytwenty-first (181st121st) and one hundred ninetythirty-sixth (196th136th) days after the occurrence of any such casualty, if Landlord has failed to restore the damaged portions of the Building (including the Premises) within one hundred eighty twenty (180120) days of such casualty. However, if Landlord is prevented by Delays as defined in Section 2, from completing the restoration within said one hundred eighty twenty (180120) day period, and if Landlord provides Tenant with written notice of the cause for the Delays within fifteen (15) days after the occurrence thereof, such notice to contain the reason for the Delays and a good faith estimate of the period of the Delays caused thereby, then then. Landlord shall have an additional period beyond said one hundred eighty twenty (180120) days, equal to the Delays in which to restore the damaged areas of the Building; and Tenant may not elect to terminate this Lease until said additional period required for completion has expired with the Building not having been substantially restored. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration set forth in the preceding sentence. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Notwithstanding the foregoing, Landlord shall use commercially reasonable efforts to provide Tenant temporary space which is reasonably acceptable to Tenant during the time period in which the damage to the Building (including the Premises) is being repaired. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration, or replacement. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the Premises have been substantially repaired and restored, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. However, if such damages or other casualty shall be caused by the negligence or other wrongful conduct of Tenant or of Tenant's subtenants, licensees, contractors, or invitees, or their respective agents or employees, there shall be no abatement of Rent. Except for the abatement of the Rent hereinabove set forth, Tenant shall not be entitled to, and hereby waives, all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair, or restoration.

Appears in 1 contract

Samples: Office Lease (Spheris Leasing LLC)

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