Destruction and Damage. Should the Leased Premises be destroyed or rendered wholly or partially unusable as the result of a fire or other accidental occurrence, and the Lessor decides not to restore the Leased Premises, the Lessor shall be entitled, without liability towards the Lessee, within ninety (90) days of such fire or other occurrence, to notify the Lessee in writing of its decision, and the term of this lease shall thereupon be deemed to have ended. If the Lessee is not then in default of performing any of its obligations under the lease or otherwise liable towards the Lessor in virtue thereof, the Lessee’s responsibility for paying the rent shall be deemed to have ceased on the day immediately following such fire or other occurrence. If, on the other hand, the Lessor decides to restore the Leased Premises or the building, as the case may be, and provided the Lessee is not liable towards the Lessor for the payment of costs, damages or rent, the Lessee’s responsibility for paying the rent shall be suspended as of the day immediately following such fire or other occurrence and shall not revive until such time as the Leased Premises are again made available for the Lessee’s occupation thereof. Subject to the foregoing, should the Leased Premises be partially damaged by a fire or other accidental occurrence that is not due to the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, the damage thereto shall be repaired by the Lessor and, until such repairs are completed, the amount of the rent shall be adjusted pro rata to the portion of the Leased Premises still usable by the Lessee. Notwithstanding the foregoing, should damage by a fire or other accidental occurrence be caused to the Leased Premises through the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, and without prejudice to the subrogation rights of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor in accordance with clause 12.1.
Appears in 1 contract
Samples: Lease Agreement
Destruction and Damage. Should the Leased Premises be destroyed or rendered wholly or partially unusable as the result of a fire or other accidental occurrence, and the Lessor decides not to restore the Leased Premises, the Lessor shall be entitled, without liability towards the Lessee, within ninety (90) days of such fire or other occurrence, to notify the Lessee in writing of its decision, and 6.01 If during the term of this Lease, the buildings, and improvements erected thereon or therein, shall be destroyed or damaged in whole or in part by fire or any other cause, Tenant shall give to Landlord prompt notice thereof, and Tenant, at its own cost and expense, shall, promptly repair, replace and rebuild the same with a structure of substantially the same character and condition as existed immediately prior to such occurrence, and Landlord shall, in no event, be called upon to repair, replace or rebuild any such buildings, improvements or equipment, nor to pay any of the cost or expenses thereof, and the Tenant shall not be entitled to an abatement of rent by reason of the damage or destruction to The Premises.
6.02 For the purpose of paying towards the cost of such repairs, replacement or rebuilding, in the event of a loss in excess of $25,000.00, Landlord and Tenant shall deposit the proceeds of insurance with the Landlord as trustee and such trustee shall make available and pay from time to time, but in no event more frequently than once in each month, all net sums received under insurance policies covering such loss or losses as provided for herein, at the request of or at the direction of Tenant to the parties whom Tenant may employ to repair, replace or rebuild the same, as such repairs, replacements or rebuildings shall progress or to Tenant, if Tenant shall make or pay for such repairs, re- placement or rebuilding, in reimbursement for work and materials actually incorporated in The Premises. Such payment shall be made by such trustee upon written request from an officer of Tenant, or in the event that an architect has been retained to supervise said work, then said payments by said trustee shall be made upon appropriate requisition certificates of the architect in charge of such work; provided, however, that in each instance of requisition prior to the completion of such work, said officer of Tenant or the architect, if any, shall also certify to the trustee and Landlord, and, at Landlord's request, to the holder of any mortgage to which this lease is subordinate, that the cost of the then remaining work necessary for completion thereof does not exceed ninety (90%) percent of the balance of said insurance proceeds as will remain after payment over the sum so requisitioned, and that such work has been prosecuted in accordance with the plans and specifications therefor.
6.03 If in the course of such work any mechanic's, construction, or other lien, or order for the payment of money, shall thereupon be deemed filed against The Premises or against Landlord or Tenant or any contractor of Tenant, or if Tenant shall be in default in the payment of any rent or additional rent then due and payable, or if there is any existing and unremedied default on the part of Tenant under the agreements, terms, covenants and conditions of this lease as to which Landlord has served notice upon Tenant and with respect to which Tenant has failed to cure within the time provided for herein, such trustee shall not make any payment of such insurance proceeds until and unless such lien or order shall have endedbeen fully bonded, satisfied, canceled, discharged of record or complied with, and/or until such default shall have been cured. In the event of a loss less than $25,000.00, such proceeds of insurance shall be assigned or paid directly to Tenant, to be applied by it in accordance with the provisions of this Article headed "DESTRUCTION AND DAMAGE".
6.04 If the Lessee is not then net amount of such insurance proceeds shall be insufficient for the proper and effective repair, replacement or rebuilding of such damaged or destroyed buildings, improvements or equipment, Tenant shall pay the additional sums required, and if the amount of such insurance proceeds shall be in default excess of performing any of its obligations under the lease or otherwise liable towards the Lessor in virtue cost thereof, the Lessee’s responsibility for paying the rent excess shall be deemed paid to and retained by Tenant.
6.05 The repairs, replacement or rebuilding to be performed by Tenant shall not be delayed by Tenant because of failure to receive the insurance proceeds or by reason of Tenant's inability to adjust the amount of insurance to be paid. Tenant shall proceed to repair, replace or rebuild the structures, improvements and equipment promptly, and, in the event that such work shall not be commenced within ten (10) days from the date of loss and shall not be expeditiously prosecuted to completion, Landlord shall have ceased on the day immediately following right to cancel and terminate this lease by giving to Tenant not less than fifteen (15) days notice of intention to do so, and, if upon the expiration of the time fixed in such fire or other occurrence. Ifnotice, on such work shall not have been commenced and the other handagreements, terms, covenants and conditions herein complied with, or, if after commencement thereof, the Lessor decides to restore the Leased Premises or the buildingwork shall not have been expeditiously prosecuted, as the case may be, this lease and provided the Lessee is not liable towards term hereof may be terminated by the Lessor for the payment of costsLandlord, damages or rent, the Lessee’s responsibility for paying the rent and all such insurance proceeds shall belong to and shall be suspended as retained by Landlord, and Tenant shall remain liable for all of its obligations under this Lease.
6.06 Such work and the day immediately following such fire or other occurrence performance thereof shall be subject to and shall not revive until such time as the Leased Premises are again made available for the Lessee’s occupation thereof. Subject to the foregoing, should the Leased Premises be partially damaged by a fire or other accidental occurrence that is not due to the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, the damage thereto shall be repaired by the Lessor and, until such repairs are completed, the amount of the rent shall be adjusted pro rata to the portion of the Leased Premises still usable by the Lessee. Notwithstanding the foregoing, should damage by a fire or other accidental occurrence be caused to the Leased Premises through the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, and without prejudice to the subrogation rights of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor performed in accordance with clause 12.1the provisions of the Article of this Lease headed "ALTERATIONS, IMPROVEMENTS AND ADDITIONS".
6.07 The fifteen (15) day period mentioned in Article 6 shall be extended by such period as Tenant may be delayed by strikes, labor or material shortages, embargoes, governmental restrictions or priorities, or other causes beyond Tenant's reasonable control; provided, however, that lack of required monetary funds shall not be deemed to be a cause beyond Tenant's reasonable control.
6.08 If, at any time during the last one (1) year of the original term, or during the last one (1) year of any renewal term, of this Lease, the buildings and improvements on The Premises shall be so destroyed or damaged by fire or any other cause that the cost of the restoration exceeds fifty (50%) percent of the full replacement cost of such buildings, improvements or equipment immediately prior to such destruction or damage, either party may, within the period of ten (10) days after the date on which such destruction or damage occurs, give notice to the other of its election to terminate this lease, and this lease and the term of this Lease shall cease and expire on the date of expiration of the period of ten (10) days after the date on which such notice is given with the same force and effect as if such date were the date originally set forth in this lease for the expiration of this Lease and the term of this Lease, and, in such event, Tenant shall have no obligation to repair, replace or rebuild such buildings, improvements or equipment and the proceeds of insurance referred to in Article 6 shall be paid to and belong to Landlord.
Appears in 1 contract
Destruction and Damage. Should 22.01 If the Leased Demised Premises and/or access thereto shall be partially or totally damaged or destroyed or rendered wholly or partially unusable as the result of a by fire or other accidental occurrencecasualty, then, Landlord shall, subject to its rights under Section 22.03 hereof, repair the damage and restore and rebuild the Demised Premises and/or access thereto as nearly as may be reasonably practical to its condition and character immediately prior to such damage or destruction, with reasonable diligence after notice to it of the damage or destruction.
22.02 If the Demised Premises and/or access thereto shall be partially or totally damaged or destroyed by fire or other casualty not attributable to the fault, negligence or misuse of the Demised Premises by the Tenant, its agent or employees under the provisions of this Lease, the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable from the date of such damage or destruction to the date the damage shall be substantially repaired or restored or rebuilt. Should Tenant reoccupy a portion of the Demised Premises during the period that the repair, restoration, or rebuilding is in progress and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy to the date the Demised Premises are made tenantable.
22.03 In case of substantial damage or destruction of the Demised Premises, Tenant may terminate this Lease by notice to Landlord, if Landlord has not completed the making of required repairs and restored and rebuilt the Demised Premises and/or access thereto within 12 months from the date of such damage or destruction, and such additional time after such date (but in no event to exceed 9 months) as shall equal the Lessor decides not to restore aggregate period Landlord may have been delayed in doing so by adjustment of insurance or Unavoidable Delays. In case the Leased Premises, the Lessor Building shall be entitled, without liability towards the Lessee, within ninety (90) days of so damaged by such fire or other occurrencecasualty that substantial renovation, to notify reconstruction or demolition of the Lessee Building shall, in writing of its decisionLandlord’s opinion, and be required (whether or not the term of this lease Demised Premises shall thereupon be deemed to have ended. If the Lessee is not then in default of performing any of its obligations under the lease or otherwise liable towards the Lessor in virtue thereof, the Lessee’s responsibility for paying the rent shall be deemed to have ceased on the day immediately following been damaged by such fire or other occurrencecasualty), then Landlord may, at its option, terminate this Lease and the Term and estate hereby granted, by notifying Tenant of such termination, within sixty (60) days after the date of such damage. If, on If at any time prior to Landlord giving Tenant the other handaforesaid notice of termination or commencing the repair and restoration pursuant to Section 22.01, the Lessor decides holder of a superior mortgage or the lessor of a superior lease or any person claiming under or through the holder of such superior mortgage or the lessor of such superior lease takes possession of the Building through foreclosure or otherwise, such holder, lessor, or person shall have a further period of sixty (60) days from the date of so taking possession to restore terminate this Lease by appropriate written notice to Tenant. In the Leased event that such a notice of termination shall be given pursuant to either of the next two preceding sentences, this Lease and the Term and estate hereby granted shall expire as of the date of such termination with the same effect as if that were the date hereinabove set for the expiration of the Term, and the Fixed Rent and additional rent due and to become due hereunder shall be apportioned as of such date if not earlier abated pursuant to Section 22.02. Nothing contained in this Section 22.03 shall relieve Tenant from any liability to Landlord or to its insurers in connection with any damage to the Demised Premises or the building, as the case may be, and provided the Lessee is not liable towards the Lessor for the payment of costs, damages or rent, the Lessee’s responsibility for paying the rent shall be suspended as of the day immediately following such Building by fire or other occurrence casualty if Tenant shall be legally liable in such respect.
22.04 No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant’s use and occupancy.
22.05 Landlord will not carry insurance of any kind on Tenant’s Property and shall not revive until such time as be obligated to repair any damage thereto or replace the Leased same.
22.06 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises are again made available for the Lessee’s occupation thereof. Subject to the foregoing, should the Leased Premises be partially damaged by a fire or other accidental occurrence that is not due to casualty, and any statute or regulation providing for such a contingency in the fault absence of, an express agreement, now or negligence hereafter in force, shall have no application in such case.
22.07 Notwithstanding any of the Lessee foregoing provisions of this Lease if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds)applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, mandatariesagents or contractors, visitors or other persons it has admitted into the Leased Premisesthen, the damage thereto shall be repaired by the Lessor and, until such repairs are completed, the amount of the rent shall be adjusted pro rata to the portion of the Leased Premises still usable by the Lessee. Notwithstanding the foregoing, should damage by a fire or other accidental occurrence be caused to the Leased Premises through the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, and without prejudice to any other remedies which may be available against Tenant, the subrogation rights abatement of Tenant’s rents provided for in this Article shall not be effective to the extent of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor in accordance with clause 12.1uncollected insurance proceeds.
Appears in 1 contract
Destruction and Damage. Should 22.01 If the Leased Demised Premises and/or access thereto shall be partially or totally damaged or destroyed or rendered wholly or partially unusable as the result of a by fire or other accidental occurrencecasualty, then, Landlord shall, subject to its rights under Section 22.03 hereof, repair the damage and restore and rebuild the Demised Premises and/or access thereto as nearly as may be reasonably practical to its condition and character immediately prior to such damage or destruction, with reasonable diligence after notice to it of the damage or destruction.
22.02 It the Demised Premises and/or access thereto shall be partially or totally damaged or destroyed by fire or other casualty not attributable to the fault, negligence or misuse of the Demised Premises by the Tenant, its agent or employees under the provisions of this Lease, the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable from the date of such damage or destruction to the date the damage shall be substantially repaired or restored or rebuilt. Should Tenant reoccupy a portion of the Demised Premises during the period that the repair, restoration, or rebuilding is in progress and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy to the date the Demised Premises are made tenantable.
22.03 In case of substantial damage or destruction of the Demised Premises, Tenant may terminate this Lease by notice to Landlord, if Landlord has not completed the making of required repairs and restored and rebuilt the Demised Premises and/or access thereto within 9 months from the date of such damage or destruction, and such additional time after such date (but in no event exceed 9 months) as shall equal the Lessor decides not to restore aggregate period Landlord may have been delayed in doing so by adjustment of insurance or Unavoidable Delays. In case the Leased Premises, the Lessor Building shall be entitled, without liability towards the Lessee, within ninety (90) days of so damaged by such fire or other occurrencecasualty that substantial renovation, reconstruction or demolition of the Building shall, in Landlord's opinion, be required (whether or not the Demised Premises shall have been damaged by such fire or other casualty), then Landlord may, at its option, terminate this Lease and the Term and estate hereby granted, by notifying Tenant of such termination, within sixty (60) days after the date of such damage. If at any time prior to notify Landlord giving tenant the Lessee in writing aforesaid notice of its decisiontermination or commencing the repair and restoration pursuant to Section 22.01, the holder of a superior mortgage or the lessor of a superior lease or any person claiming under or through the holder of such superior mortgage or the lessor of such superior lease takes possession of the Building through foreclosure or otherwise, such holder, lessor, or person shall have a further period of sixty (60) days from the date of so taking possession to terminate this Lease by appropriate written notice to Tenant. In the event that such a notice of termination shall be given pursuant to either of the next two preceding sentences, this Lease and the Term and estate hereby granted shall expire as of the date of such termination with the same effect as if that were the date hereinabove set for the expiration of the Term, and the term Fixed Rent and additional rent due and to become due hereunder shall be apportioned as of such date if not earlier abated pursuant to Section 22.02. Nothing contained in this lease Section 22.03 shall thereupon relieve Tenant from any liability to Landlord or to its insurers in connection with any damage to the Demised Premises or the Building by fire or other casualty if Tenant shall be deemed legally liable in such respect.
22.04 No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to have endedthis Article. If the Lessee is Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not then in default unreasonably to interfere with Tenant's use and occupancy.
22.05 Landlord will not carry insurance of performing any kind on Tenant's Property, and, except as provided by law or its breach of any of its obligations under hereunder, shall not be obligated to repair any damage thereto or replace the lease or otherwise liable towards the Lessor in virtue thereof, the Lessee’s responsibility for paying the rent same.
22.06 The provisions of this Article shall be deemed to have ceased on considered an express agreement governing any case of damage or destruction of the day immediately following such Demised Premises by fire or other occurrence. Ifcasualty, on and any statute or regulation providing for such a contingency in the other handabsence of, an express agreement, now or hereafter in force, shall have no application in such case.
22.07 Notwithstanding any of the Lessor decides foregoing provisions of this Lease if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to restore collect all of the Leased insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the building, as the case may be, and provided the Lessee is not liable towards the Lessor for the payment of costs, damages or rent, the Lessee’s responsibility for paying the rent shall be suspended as of the day immediately following such Building by fire or other occurrence and shall not revive until such time as cause, by reason of some action or inaction on the Leased Premises are again made available for the Lessee’s occupation thereof. Subject to the foregoing, should the Leased Premises be partially damaged by a fire part of Tenant or other accidental occurrence that is not due to the fault or negligence any of the Lessee or its employees, mandatariesagents or contractors, visitors or other persons it has admitted into the Leased Premisesthen, the damage thereto shall be repaired by the Lessor and, until such repairs are completed, the amount of the rent shall be adjusted pro rata to the portion of the Leased Premises still usable by the Lessee. Notwithstanding the foregoing, should damage by a fire or other accidental occurrence be caused to the Leased Premises through the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, and without prejudice to any other remedies which may be available against Tenant, the subrogation rights abatement of Tenant's rents provided for in this Article shall not be effective to the extent of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor in accordance with clause 12.1uncollected insurance proceeds.
Appears in 1 contract
Destruction and Damage. Should 22.01 If the Leased Demised Premises and/or access thereto shall be partially or totally damaged or destroyed or rendered wholly or partially unusable as the result of a by fire or other accidental occurrencecasualty, then, Landlord shall, subject to its rights under Section 22.03 hereof, repair the damage and restore and rebuild the Demised Premises and/or access thereto as nearly as may be reasonably practical to its condition and character immediately prior to such damage or destruction, with reasonable diligence after notice to it of the damage or destruction.
22.02 If the Demised Premises and/or access thereto shall be partially or totally damaged or destroyed by fire or other casualty not attributable to the fault, negligence or misuse of the Demised Premises by the Tenant, its agent or employees under the provisions of this Lease, the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable from the date of such damage or destruction to the date the damage shall be substantially repaired or restored or rebuilt. Should Tenant reoccupy a portion of the Demised Premises during the period that the repair, restoration, or rebuilding is in progress and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy to the date the Demised Premises are made tenantable.
22.03 In case of substantial damage or destruction of the Demised Premises, Tenant may terminate this Lease by notice to Landlord, if Landlord has not completed the making of required repairs and restored and rebuilt the Demised Premises and/or access thereto within 12 months from the date of such damage or destruction, and such additional time after such date (but in no event exceed 9 months) as shall equal the Lessor decides not to restore aggregate period Landlord may have been delayed in doing so by adjustment of insurance or Unavoidable Delays. In case the Leased Premises, the Lessor Building shall be entitled, without liability towards the Lessee, within ninety (90) days of so damaged by such fire or other occurrencecasualty that substantial renovation, reconstruction or demolition of the Building shall, in Landlord's opinion, be required (whether or not the Demised Premises shall have been damaged by such fire or other casualty), then Landlord may, at its option, terminate this Lease and the Term and estate hereby granted, by notifying Tenant of such termination, within sixty (60) days after the date of such damage. If at any time prior to notify Landlord giving tenant the Lessee in writing aforesaid notice of its decisiontermination or commencing the repair and restoration pursuant to Section 22.01, the holder of a superior mortgage or the lessor of a superior lease or any person claiming under or through the holder of such superior mortgage or the lessor of such superior lease takes possession of the Building through foreclosure or otherwise, such holder, lessor, or person shall have a further period of sixty (60) days from the date of so taking possession to terminate this Lease by appropriate written notice to Tenant. In the event that such a notice of termination shall be given pursuant to either of the next two preceding sentences, this Lease and the Term and estate hereby granted shall expire as of the date of such termination with the same effect as if that were the date hereinabove set for the expiration of the Term, and the term Fixed Rent and additional rent due and to become due hereunder shall be apportioned as of such date if not earlier abated pursuant to Section 22.02. Nothing contained in this lease Section 22.03 shall thereupon relieve Tenant from any liability to Landlord or to its insurers in connection with any damage to the Demised Premises or the Building by fire or other casualty if Tenant shall be deemed legally liable in such respect.
22.04 No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to have endedthis Article. If the Lessee is Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not then in default unreasonably to interfere with Tenant's use and occupancy.
22.05 Landlord will not carry insurance of performing any kind on Tenant's Property, and, except as provided by law or its breach of any of its obligations under hereunder, shall not be obligated to repair any damage thereto or replace the lease or otherwise liable towards the Lessor in virtue thereof, the Lessee’s responsibility for paying the rent same.
22.06 The provisions of this Article shall be deemed to have ceased on considered an express agreement governing any case of damage or destruction of the day immediately following such Demised Premises by fire or other occurrencecasualty, and any statute or regulation providing for such a contingency in the absence of, an express agreement, now or hereafter in force, shall have no application in such case.
22.07 Landlord shall maintain appropriate insurance for the Building. If, on Notwithstanding any of the other hand, foregoing provisions of this Lease if Landlord or the Lessor decides lessor of any superior lease or the holder of any superior mortgage shall be unable to restore collect all of the Leased insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the building, as the case may be, and provided the Lessee is not liable towards the Lessor for the payment of costs, damages or rent, the Lessee’s responsibility for paying the rent shall be suspended as of the day immediately following such Building by fire or other occurrence and shall not revive until such time as cause, by reason of some action or inaction on the Leased Premises are again made available for the Lessee’s occupation thereof. Subject to the foregoing, should the Leased Premises be partially damaged by a fire part of Tenant or other accidental occurrence that is not due to the fault or negligence any of the Lessee or its employees, mandatariesagents or contractors, visitors or other persons it has admitted into the Leased Premisesthen, the damage thereto shall be repaired by the Lessor and, until such repairs are completed, the amount of the rent shall be adjusted pro rata to the portion of the Leased Premises still usable by the Lessee. Notwithstanding the foregoing, should damage by a fire or other accidental occurrence be caused to the Leased Premises through the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, and without prejudice to any other remedies which may be available against Tenant, the subrogation rights abatement of Tenant's rents provided for in this Article shall not be effective to the extent of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor in accordance with clause 12.1uncollected insurance proceeds.
Appears in 1 contract
Samples: Office Lease Agreement (Star Telecommunications Inc)
Destruction and Damage. Should 17.01 If the Leased Demised Premises and/or access thereto, or any part thereof, shall be destroyed or rendered wholly or partially unusable as the result of a damaged by fire or other accidental occurrencecause, Tenant shall give immediate notice thereof to Landlord, and this Lease shall continue in full force and effect except as hereinafter set forth. In such event, Landlord shall, subject to compliance with the Lessor decides not provisions of any superior mortgage or superior lease, and to its rights under Section 17.03, repair the damage and restore and rebuild the Demised Premises with reasonable diligence as nearly as may be practicable to its condition immediately prior to such damage. If the proceeds of Tenant's insurance coverage are in the opinion of Landlord insufficient to restore and rebuild the Leased Demised Premises, Landlord's obligation to repair the Lessor damage and restore and rebuild the Demised Premises shall be entitled, without liability towards the Lessee, within ninety (90) days subject to Tenant's payment to Landlord of such insufficiency prior to commencement of any work.
17.02 If the Demised Premises shall be partially or totally damaged or rendered partially or totally untenantable by fire or other occurrence, to notify the Lessee in writing of its decision, and the term of this lease shall thereupon be deemed to have ended. If the Lessee is not then in default of performing any of its obligations under the lease or otherwise liable towards the Lessor in virtue thereof, the Lessee’s responsibility for paying the rent shall be deemed to have ceased on the day immediately following such fire or other occurrence. If, on the other hand, the Lessor decides to restore the Leased Premises or the building, as the case may be, and provided the Lessee is not liable towards the Lessor for the payment of costs, damages or rent, the Lessee’s responsibility for paying the rent shall be suspended as of the day immediately following such fire or other occurrence and shall not revive until such time as the Leased Premises are again made available for the Lessee’s occupation thereof. Subject to the foregoing, should the Leased Premises be partially damaged by a fire or other accidental occurrence that is not due to cause without the fault or negligence neglect of the Lessee or its Tenant, Tenant's employees, mandatariesagents, contractors, visitors or other persons it has admitted into the Leased Premises, the damage thereto shall be repaired by the Lessor andlicensees, until such repairs are completed, made the amount Rent shall be apportioned according to the part of the rent Demised Premises which is usable by Tenant and shall be adjusted pro rata abated from the date of such damage to the date rent loss insurance shall be exhausted. However, if the proceeds of Tenant's insurance coverage are in the opinion of Landlord insufficient to restore and rebuild the Demised Premises, Landlord's obligation to repair the damage and restore and rebuild the Demised Premises shall be subject to Tenant's payment to Landlord of such insufficiency prior to commencement of any work.
17.03 If the Demised Premises are totally or substantially damaged or are rendered wholly or substantially untenantable by fire or other cause, and if Landlord shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Landlord shall decide to demolish it or not to rebuild it (whether or not the Demised Premises have been damaged), then in any of such events Landlord may, within one hundred twenty (120) days after the occurrence of such casualty, give Tenant notice of such decision, and thereupon the Term of this Lease shall expire upon the date set forth in such notice as fully and completely as if such date were the Expiration Date of this Lease. Tenant shall then forthwith quit, surrender and vacate the Demised Premises. Such termination and surrender shall be without prejudice to Landlord's rights and remedies against Tenant under the Lease provisions in effect prior to such termination, and the Rent reserved hereunder shall be apportioned as of such date if not earlier abated pursuant to Section 17.02.
17.04 Unless Landlord shall serve a termination notice as provided for in Section 17.03 hereof, Landlord shall make the repairs and restorations as above-described, with all reasonable expedition subject to delays due to adjustment of insurance claims and Events of Force Majeure. No damages, compensation or claims shall be payable by Landlord for delay, inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Leased Demised Premises still usable or of the Building.
17.05 For purposes of this Article 17, casualty damage which Landlord is responsible to repair shall not be deemed to include damage caused by vandalism, unknown cause or other act not normally covered under fire and extended coverage insurance policies applicable to office buildings in the Lessee. Notwithstanding area in which the foregoing, should Building is located.
17.06 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by a fire or other accidental occurrence be caused to casualty, and any laws now or hereinafter in force providing for such a contingency in the Leased Premises through the fault or negligence absence of an express agreement shall have no application in such case.
17.07 Notwithstanding any of the Lessee foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds applicable to damage or destruction of the Demised Premises or the Building by reason of some action or inaction on the part of Tenant or any of its employees, mandatariesagents or contractors, visitors or other persons it has admitted into the Leased Premisesthen, and without prejudice to any other remedies which may be available against Tenant, the subrogation rights abatement of Tenant's rent provided for in this Article shall not be effective to the extent of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor in accordance with clause 12.1uncollected insurance proceeds.
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Destruction and Damage. Should 17.01 If the Leased Demised Premises and/or access thereto, or any part thereof, shall be destroyed or rendered wholly or partially unusable as the result of a damaged by fire or other accidental occurrencecause, Tenant shall give immediate notice thereof to Landlord, and this Lease shall continue in full force and effect except as hereinafter set forth. In such event, Landlord shall, subject to compliance with the Lessor decides not provisions of any superior mortgage or superior lease, and to its rights under Section 17.03, repair the damage and restore and rebuild the Demised Premises with reasonable diligence as nearly as may be practicable to its condition immediately prior to such damage. If the proceeds of Tenant’s insurance coverage are in the opinion of Landlord insufficient to restore and rebuild the Leased Demised Premises, Landlord’s obligation to repair the Lessor damage and restore and rebuild the Demised Premises shall be entitled, without liability towards the Lessee, within ninety (90) days subject to Tenant’s payment to Landlord of such insufficiency prior to commencement of any work.
17.02 If the Demised Premises shall be partially or totally damaged or rendered partially or totally untenantable by fire or other occurrence, to notify the Lessee in writing of its decision, and the term of this lease shall thereupon be deemed to have ended. If the Lessee is not then in default of performing any of its obligations under the lease or otherwise liable towards the Lessor in virtue thereof, the Lessee’s responsibility for paying the rent shall be deemed to have ceased on the day immediately following such fire or other occurrence. If, on the other hand, the Lessor decides to restore the Leased Premises or the building, as the case may be, and provided the Lessee is not liable towards the Lessor for the payment of costs, damages or rent, the Lessee’s responsibility for paying the rent shall be suspended as of the day immediately following such fire or other occurrence and shall not revive until such time as the Leased Premises are again made available for the Lessee’s occupation thereof. Subject to the foregoing, should the Leased Premises be partially damaged by a fire or other accidental occurrence that is not due to cause without the fault or negligence neglect of the Lessee or its Tenant, Tenant’s employees, mandatariesagents, contractors, visitors or other persons it has admitted into the Leased Premises, the damage thereto shall be repaired by the Lessor andlicensees, until such repairs are completed, made the amount Rent shall be apportioned according to the part of the rent Demised Premises which is usable by Tenant and shall be adjusted pro rata abated from the date of such damage to the date rent loss insurance shall be exhausted. However, if the proceeds of Tenant’s insurance coverage are in the opinion of Landlord insufficient to restore and rebuild the Demised Premises, Landlord’s obligation to repair the damage and restore and rebuild the Demised Premises shall be subject to Tenant’s payment to Landlord of such insufficiency prior to commencement of any work.
17.03 If the Demised Premises are totally or substantially damaged or are rendered wholly or substantially untenantable by fire or other cause, and if Landlord shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Landlord shall decide to demolish it or not to rebuild it (whether or not the Demised Premises have been damaged), then in any of such events Landlord may, within one hundred twenty (120) days after the occurrence of such casualty, give Tenant notice of such decision, and thereupon the Term of this Lease shall expire upon the date set forth in such notice as fully and completely as if such date were the Expiration Date of this Lease. Tenant shall then forthwith quit, surrender and vacate the Demised Premises. Such termination and surrender shall be without prejudice to Landlord’s rights and remedies against Tenant under the Lease provisions in effect prior to such termination, and the Rent reserved hereunder shall be apportioned as of such date if not earlier abated pursuant to Section 17.02.
17.04 Unless Landlord shall serve a termination notice as provided for in Section 17.03 hereof, Landlord shall make the repairs and restorations as above-described, with all reasonable expedition subject to delays due to adjustment of insurance claims and Events of Force Majeure. No damages, compensation or claims shall be payable by Landlord for delay, inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Leased Demised Premises still usable or of the Building.
17.05 For purposes of this Article 17, casualty damage which Landlord is responsible to repair shall not be deemed to include damage caused by vandalism, unknown cause or other act not normally covered under fire and extended coverage insurance policies applicable to office buildings in the Lessee. Notwithstanding area in which the foregoing, should Building is located.
17.06 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by a fire or other accidental occurrence be caused to casualty, and any laws now or hereinafter in force providing for such a contingency in the Leased Premises through the fault or negligence absence of an express agreement shall have no application in such case.
17.07 Notwithstanding any of the Lessee foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds applicable to damage or destruction of the Demised Premises or the Building by reason of some action or inaction on the part of Tenant or any of its employees, mandatariesagents or contractors, visitors or other persons it has admitted into the Leased Premisesthen, and without prejudice to any other remedies which may be available against Tenant, the subrogation rights abatement of Tenant’s rent provided for in this Article shall not be effective to the extent of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor in accordance with clause 12.1uncollected insurance proceeds.
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Samples: Sublease (Radiation Therapy Services Holdings, Inc.)
Destruction and Damage. Should If the Leased Premises be destroyed or rendered wholly or partially unusable as the result of a Building are damaged by fire or other accidental occurrenceinsured casualty, Landlord will give Tenant written notice of the time that Landlord has determined in its reasonable discretion will be needed to repair the damage and the Lessor decides not election (if any) that Landlord has made according to restore this section. The notice will be given before the Leased Premises, 30TH DAY (the Lessor shall be entitled, without liability towards "NOTICE DATE") after the Lessee, within ninety (90) days of such fire or other occurrence, to notify the Lessee in writing of its decision, and the term of this lease shall thereupon be deemed to have endedinsured casualty. If the Lessee is not then in default of performing any of its obligations under Premises or the lease or otherwise liable towards the Lessor in virtue thereof, the Lessee’s responsibility for paying the rent shall be deemed to have ceased on the day immediately following such Building are damaged by fire or other occurrenceinsured casualty to an extent Landlord has determined in its reasonable discretion can be repaired within 120 DAYS after the date of such damage, after the notice date, Landlord will promptly begin to repair the Building and Premises to a condition comparable to its condition prior to the date of such damage and will use reasonable diligence to pursue the completion of such repair. IfIn that event this Lease will continue in full force and effect, except that Rent will be abated on a pro rata basis from the date of the damage until the date of the completion of such repairs (the "REPAIR period"), based on the other handproportion of the rentable area of the Premises that is unsuitable for Tenant's business, as reasonably determined by Tenant in its good faith discretion, as a result of such damage. If the Lessor decides to restore the Leased Premises or the buildingBuilding are damaged by fire or other insured casualty to an extent Landlord has determined in its reasonable discretion cannot be repaired within 120 DAYS after the notice date, as the case then (1) Landlord may be, and provided the Lessee is not liable towards the Lessor for the payment of costs, damages or rent, the Lessee’s responsibility for paying the rent shall be suspended cancel this Lease as of the day immediately following date of the damage by written notice given to Tenant on or before the notice date, or (2) Tenant may cancel this Lease as of the date of the damage by written notice given to Landlord within 10 DAYS after Tenant's actual receipt of Landlord's written notice that the repairs cannot be made within such fire 120-DAY period. In any event, if written notice as to the time that Landlord has determined in its reasonable discretion will be needed to repair the damage and the election (if any) that Landlord has made according to this section is not actually received by Tenant on or other occurrence before the notice date, then Tenant may cancel this Lease as of the date of the damage by written notice given to Landlord within 10 DAYS after the notice date. If neither Landlord nor Tenant so elects to cancel this Lease, Landlord will use reasonable diligence to proceed to repair the Building and shall Premises to a condition comparable to its condition prior to the date of such damage, and Rent will be abated on a pro rata basis during the repair period, based on the proportion of the rentable area of the Premises that is unsuitable for Tenant's business, as reasonably determined by Tenant in its good faith discretion, as a result of such damage, and if such repair is not revive until completed prior to the date 120 DAYS after the date of such damage (as such time period may be extended for up to 45 days for delays beyond the control of Landlord of which Tenant is given notice, so long as Landlord diligently prosecutes such repair to completion), Tenant may terminate this Lease as of the Leased date of such damage by giving written notice to Landlord on or before the date 30 DAYS after the expiration of such 120-DAY period. If the Premises or the Building are again made available damaged by any casualty against which Landlord is not required hereby to carry and maintain insurance, or if the insurance proceeds along with any deductible are insufficient to pay for the Lessee’s occupation thereof. Subject repair of any damage to the foregoing, should Premises or the Leased Premises be partially damaged by a fire or other accidental occurrence that is not due to the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, the damage thereto shall be repaired by the Lessor and, until such repairs are completed, the amount of the rent shall be adjusted pro rata to the portion of the Leased Premises still usable by the Lessee. Notwithstanding the foregoing, should damage by a fire or other accidental occurrence be caused to the Leased Premises through the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, and without prejudice to the subrogation rights of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor in accordance with clause 12.1.Building,
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Samples: Lease Agreement (Innotrac Corp)
Destruction and Damage. Should 22.01 If the Leased Demised Premises and/or access thereto shall be partially or totally damaged or destroyed or rendered wholly or partially unusable as the result of a by fire or other accidental occurrencecasualty, then, Landlord shall, subject to its rights under Section 22.03 hereof, repair the damage and restore and rebuild the Demised Premises and/or access thereto as nearly as may be reasonably practical to its condition and character immediately prior to such damage or destruction, with reasonable diligence after notice to it of the damage or destruction.
22.02 If the Demised Premises and/or access thereto shall be partially or totally damaged or destroyed by fire or other casualty, the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable from the date of such damage or destruction to the date the damage shall be substantially repaired or restored or rebuilt. Should Tenant reoccupy a portion of the Demised Premises during the period that the repair, restoration, or rebuilding is in progress and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy to the date the Demised Premises are made tenantable.
22.03 In case of substantial damage or destruction of the Demised Premises, Tenant may terminate this Lease by notice to Landlord, if Landlord has not completed the making of required repairs and restored and rebuilt the Demised Premises and/or access thereto within 12 months from the date of such damage or destruction, and such additional time after such date (but in no event exceed 9 months) as shall equal the Lessor decides not to restore aggregate period Landlord may have been delayed in doing so by adjustment of insurance or Unavoidable Delays. In case the Leased Premises, the Lessor Building shall be entitled, without liability towards the Lessee, within ninety (90) days of so damaged by such fire or other occurrencecasualty that substantial renovation, reconstruction or demolition of the Building shall, in Landlord's opinion, be required (whether or not the Demised Premises shall have been damaged by such fire or other casualty), then Landlord may, at its option, terminate this Lease and the Term and estate hereby granted, by notifying Tenant of such termination, within sixty (60) days after the date of such damage. If at any time prior to notify Landlord giving tenant the Lessee in writing aforesaid notice of its decisiontermination or commencing the repair and restoration pursuant to Section 22.01, the holder of a superior mortgage or the lessor of a superior lease or any person claiming under or through the holder of such superior mortgage or the lessor of such superior lease takes possession of the Building through foreclosure or otherwise, such holder, lessor, or person shall have a further period of sixty (60) days from the date of so taking possession to terminate this Lease by appropriate written notice to Tenant. In the event that such a notice of termination shall be given pursuant to either of the next two preceding sentences, this Lease and the Term and estate hereby granted shall expire as of the date of such termination with the same effect as if that were the date hereinabove set for the expiration of the Term, and the term Fixed Rent and additional rent due and to become due hereunder shall be apportioned as of such date if not earlier abated pursuant to Section 22.02. Nothing contained in this lease Section 22.03 shall thereupon relieve Tenant from any liability to Landlord or to its insurers in connection with any damage to the Demised Premises or the Building by fire or other casualty if Tenant shall be deemed legally liable in such respect.
22.04 No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to have endedthis Article. If the Lessee is Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not then in default unreasonably to interfere with Tenant's use and occupancy.
22.05 Landlord will not carry insurance of performing any kind on Tenant's Property, and, except as provided by law or its breach of any of its obligations under hereunder, shall not be obligated to repair any damage thereto or replace the lease or otherwise liable towards the Lessor in virtue thereof, the Lessee’s responsibility for paying the rent same.
22.06 The provisions of this Article shall be deemed to have ceased on considered an express agreement governing any case of damage or destruction of the day immediately following such Demised Premises by fire or other occurrence. Ifcasualty, on and any statute or regulation providing for such a contingency in the other handabsence of, an express agreement, now or hereafter in force, shall have no application in such case.
22.07 Notwithstanding any of the Lessor decides foregoing provisions of this Lease if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to restore collect all of the Leased insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the building, as the case may be, and provided the Lessee is not liable towards the Lessor for the payment of costs, damages or rent, the Lessee’s responsibility for paying the rent shall be suspended as of the day immediately following such Building by fire or other occurrence and shall not revive until such time as cause, by reason of some action or inaction on the Leased Premises are again made available for the Lessee’s occupation thereof. Subject to the foregoing, should the Leased Premises be partially damaged by a fire part of Tenant or other accidental occurrence that is not due to the fault or negligence any of the Lessee or its employees, mandatariesagents or contractors, visitors or other persons it has admitted into the Leased Premisesthen, the damage thereto shall be repaired by the Lessor and, until such repairs are completed, the amount of the rent shall be adjusted pro rata to the portion of the Leased Premises still usable by the Lessee. Notwithstanding the foregoing, should damage by a fire or other accidental occurrence be caused to the Leased Premises through the fault or negligence of the Lessee or its employees, mandataries, visitors or other persons it has admitted into the Leased Premises, and without prejudice to any other remedies which may be available against Tenant, the subrogation rights abatement of Tenant's rents provided for in this Article shall not be effective to the extent of the Lessor’s insurers, the Lessee shall be liable for payment to the Lessor of the amount of all costs and damages sustained by the Lessor. The Lessor shall have the right to repair such damage at the Lessee’s expense without any consequent reduction or adjustment of the rent, the parties agreeing that in such an event, the Lessee shall remain bound to pay all of the rent for the entire original term of the lease, notwithstanding any termination thereof by the Lessor in accordance with clause 12.1uncollected insurance proceeds.
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