Common use of DESTRUCTION-FIRE OR OTHER CAUSE Clause in Contracts

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) If the Premises (including the Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage to the Premises, but excluding damage to the Alterations and Tenant’s Property, shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used by Tenant), bears to the total area of the Premises. Tenant shall cooperate with Landlord in connection with the making of such repairs, including without limitation, the making or settlement of any insurance claims. Landlord shall have no obligation to repair any damage to, or to replace, any Alterations or Tenant’s Property. Landlord shall use its reasonable efforts to minimize interference with Tenant’s use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s obligation to repair the Premises shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirements.

Appears in 2 contracts

Samples: www.sec.gov, Agreement of Lease (National Financial Partners Corp)

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DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 10.1. (A) If the Premises (including the Alterations other than Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage damage, with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Property, comply with Requirements shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used Tenant, as determined by Tenant)Landlord in its reasonable discretion, bears to the total area of the PremisesPremises immediately prior to such casualty. Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property, which Tenant shall complete promptly after substantial completion of Landlord's repair obligations under this Article 10. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations unless Tenant shall have notified Landlord of the completion of such Alterations and the cost thereof, and shall have maintained adequate records with respect to such Alterations. Tenant shall make all necessary repairs to the Specialty Alterations and same shall be completed promptly after substantial completion of Landlord's repair obligations under this Article 10. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises (and any Alterations) shall be limited to repair of the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date Date, but not the distribution portions of such Building Systems located within the Premises, the floor and ceiling slabs of the Premises and the exterior walls of the Premises, all to substantially the same condition which existed on the Commencement Date, with such modifications as shall be required in order to comply with Requirements.

Appears in 2 contracts

Samples: Focal Communications Corp, Teltran International Group LTD

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 10.1. (A) If the Premises (including the Alterations other than Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage damage, with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Property, comply with Requirements shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used Tenant, as determined by Tenant)Landlord in its reasonable discretion, bears to the total area of the PremisesPremises immediately prior to such casualty. Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property, which Tenant shall complete promptly after substantial completion of Landlord's repair obligations under this Article 10. In addition, Landlord shall use its reasonable efforts not be obligated to minimize interference with Tenant’s use and occupancy in making repair any repairs pursuant damage to, or to this Section. Anything contained herein to the contrary notwithstandingreplace, if the Premises (including any Alterations) are damaged Alterations installed by fire or other casualty at any time prior to Tenant unless Tenant shall have notified Landlord of the completion of such Alterations and the Initial Alterationscost thereof, Landlord’s obligation to repair the Premises and shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date have maintained adequate records with such modifications as shall be required in order to comply with Requirements.respect to

Appears in 1 contract

Samples: Agreement of Lease (PNV Net Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) If the Premises (including the Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage to the Premises, but excluding damage to the Alterations and Tenant’s 's Property, shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used by Tenant), bears to the total area of the Premises. Tenant shall cooperate with Landlord in connection with the making of such repairs, including without limitation, the making or settlement of any insurance claims. Landlord shall have no obligation to repair any damage to, or to replace, any Alterations or Tenant’s 's Property. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: Agreement of Lease (National Financial Partners Corp)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) If the Premises (including the Alterations other than Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage to the Premises, but excluding damage to the Alterations and Tenant’s Property, shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed Substantially Completed (of which substantial completion Substantial Completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the ratio between the area of the part of the Premises which is not usable by Tenant (and not actually used Tenant, as determined by Tenant)Landlord in its reasonable discretion, bears to the total area of the PremisesPremises immediately prior to such casualty and Tenant's Share shall be redetermined based upon the proportion in which the ratio between the rentable area of the Premises remaining after such casualty bears to the rentable area of the Building, exclusive of the retail portions of the Building, remaining after such casualty. Tenant shall cooperate with Landlord in connection with Upon the making Substantial Comple- tion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations unless Tenant shall have notified Landlord of the completion of such Alterations and the cost thereof, and shall have maintained adequate records with respect to such Alterations. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s obligation to repair the Premises shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: PSW Technologies Inc

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) If the Premises (including the other than Alterations, Specialty Alterations and Tenant’s Property) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlordpromptly after Landlord learns of the same, the damage to the Premises, but excluding (exclusive of damage to the Alterations and and/or Tenant’s Property) shall, shall following completion of Landlord’s insurance adjustment, be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs which are required to be performed by Landlord shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant), (x) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the ratio between the area of the part of the Premises which is not usable by Tenant (and not actually used Tenant, as determined by Tenant)Landlord in its reasonable discretion, bears to the total area of the Premises immediately prior to such casualty, and (y) Tenant’s Share shall be redetermined based upon the proportion in which the ratio between the rentable area of the Premises remaining after such casualty bears to the rentable area of the Building remaining after such casualty. In the event that Tenant determines in its reasonable judgment that it is reasonably unable to conduct its business in the undamaged portion of the Premises or Tenant does not have reasonable access to the Premises, then Tenant may vacate the undamaged portion of the Premises and the Rental shall be totally abated until sixty (60) days after the damage has been repaired and/or Tenant once again has reasonable access to the Premises to perform its restoration work. Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairs, including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s Property. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations. Landlord shall use its reasonable efforts to minimize interference with Tenant’s use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s obligation to repair the Premises shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: Agreement of Lease (Learning Tree International Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) 15.01 If the Premises (including the Alterations) Building shall be partially damaged or destroyed, or if the Leaseback Space shall be partially damaged or destroyed, by fire fire, casualty or other cause, then whether or not the damage or destruction shall have resulted from the fault or neglect of Subtenant, or its servants, employees, agents, visitors or licensees (and if this Sublease shall not have been cancelled as in this Article hereinafter provided), Sublandlord will promptly and with due diligence and continuity repair the damage, and restore, replace, and rebuild the Building and the Leaseback Space at its expense in accordance with the provisions of the Xxxxxxxxx, after notice to it of the damage or destruction; provided, however, that Sublandlord shall not be required to repair or replace any of Subtenant's personal property, which repairs or replacements to Subtenant's personal property shall be made by Subtenant, at its own expense and subject to the provisions of this Sublease. If the Leaseback Space shall be partially damaged or partially destroyed, the Minimum Rent and Additional Rent payable hereunder shall be proportionately abated (on a per square foot basis) to the extent that the Leaseback Space shall have been rendered untenantable or unfit for the conduct of Subtenant's business in substantially the manner in which such business was being conducted immediately prior to such casualty, and if Tenant shall give prompt notice thereof to LandlordSubtenant does not occupy such damaged or destroyed part of the Leaseback Space for the conduct of business, for the damage to the Premises, but excluding damage to the Alterations and Tenant’s Property, shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and period from the date of such damage until one hundred twenty or destruction (120the "Damage Date") days after such repairs to the date that the damage shall be repaired or restored. If the Leaseback Space or a major part thereof shall be totally, or substantially completed (totally, damaged or destroyed or rendered completely, or substantially completely, untenantable or unfit for the conduct of Subtenant's business in substantially the manner in which substantial completion Landlord shall promptly notify Tenant) such business was being conducted immediately prior to such fire, casualty or other cause then the Fixed Rent, Escalation Minimum Rent and Additional Rent shall completely xxxxx as of the Damage Date until Sublandlord shall repair, restore, replace and rebuild the Leaseback Space Factor as provided in the first sentence of this Section 15.01; provided, however, that, should Subtenant reoccupy a portion of the Leaseback Space for the purpose of conducting business during the period the restoration work is taking place pursuant to this Section 15.01 and prior to the date when the same is made completely tenantable, Minimum Rent and Additional Rent shall be reduced apportioned and be payable by Subtenant in the proportion which the area of to the part of the Premises which is not usable Leaseback Space occupied by Tenant (and not actually used by Tenant), bears to the total area of the Premises. Tenant shall cooperate with Landlord in connection with the making of such repairs, including without limitation, the making or settlement of any insurance claims. Landlord shall have no obligation to repair any damage to, or to replace, any Alterations or Tenant’s Property. Landlord shall use its reasonable efforts to minimize interference with Tenant’s use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s obligation to repair the Premises shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirementsit.

Appears in 1 contract

Samples: Credit Suisse First Boston Usa Inc

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) A. If the Premises (including the other than Alterations, Specialty Alterations and Tenant's Property) shall be damaged by fire or other casualty, and if Tenant shall give prompt promptly following the giving of notice thereof to Landlord, the damage to the Premises, but excluding (exclusive of damage to the Alterations, Specialty Alterations and and/or Tenant’s 's Property) shall, shall following completion of Landlord's insurance adjustment, be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from until the date earlier of such damage until one hundred twenty (120i) sixty (60) days after such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant), (ii) the date Tenant substantially completes its work in the Premises after such casualty, or should have substantially completed such work by exercising due diligence after such casualty, and (iii) the date Tenant occupies the Premises for the conduct of its business after such casualty, (x) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the ratio between the area of the part of the Premises which is not usable by Tenant (and not actually used Tenant, as determined by Tenant)Landlord in its reasonable discretion, bears to the total area of the Premises immediately prior to such casualty, and (y) Tenant's Share shall be redetermined based upon the proportion in which the ratio between the rentable area of the Premises remaining after such casualty bears to the rentable area of the Building remaining after such casualty. In the event that Tenant is reasonably unable to conduct its business in the undamaged portion of the Premises or Tenant does not have reasonable access to the Premises, then Tenant may vacate the undamaged portion of the Premises and the Rental shall be totally abated until the damage has been repaired and/or Tenant once again Landlord's repair obligations have been substantially completed and Tenant has reasonable access to the Premises. Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Alterations, Specialty Alterations or Tenant’s 's Property. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises (and any Alterations) shall be limited to repair of (w) the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date with Date, but not the distribution portions of such modifications as shall be required in order Building Systems located within the Premises, (x) the floor and ceiling slabs of the Premises, (y) the exterior walls of the Premises, and (z) the lavatories and other core areas, all to comply with Requirementssubstantially the same condition which existed on the Commencement Date.

Appears in 1 contract

Samples: Agreement of Lease (BLC Financial Services Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 10.1. (A) If the Premises (including the Alterations other than Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give reasonably prompt notice thereof to Landlord, the damage damage, with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Property, comply with Requirements shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (Tenant, and is actually not actually used by Tenant), Tenant bears to the total area of the PremisesPremises immediately prior to such casualty. Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property, which Tenant shall complete promptly after substantial completion of Landlord's repair obligations under this Article 10. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations unless, if Landlord's insurers shall 26 required notice of the completion of such Alterations and the maintenance of adequate records in connection therewith (of which requirement Landlord shall advise Tenant promptly after request therefor), Tenant shall have notified Landlord of the completion of such Alterations and the cost thereof, and shall have maintained adequate records with respect to such Alterations. Tenant shall make all necessary repairs to the Specialty Alterations and same shall be completed promptly after substantial completion of Landlord's repair obligations under this Article 10. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises (and any Alterations) shall be limited to repair of the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date Date, but not the distribution portions of such Building Systems located within the Premises, the floor and ceiling slabs of the Premises and the exterior walls of the Premises, all to substantially the same condition which existed on the Commencement Date, with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: Agreement of Lease (Fibernet Telecom Group Inc\)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 10.1. (Aa) If the Premises (including the Alterations other than Specialty Alterations) shall be damaged by fire or other insured casualty, and if Tenant shall give prompt written notice thereof to Landlord, the damage damage, with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Property, comply with Requirements shall be diligently repaired by and at the expense of Landlord to substantially the condition that existed prior to the damagedamage (such repairs, with such modifications as shall be required in order to comply with Requirements“Landlord’s Restoration Work”), and from the date of such damage until one hundred twenty (120) days after such repairs that are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Electricity Additional Rent, Escalation Rent and Space Factor shall be reduced in the proportion which that the area of the part of the Premises which that is not usable by Tenant (and not actually used untenantable by Tenant), as determined by Landlord in Landlord’s reasonable discretion, bears to the total area of the PremisesPremises immediately prior to such casualty. Tenant Upon the substantial completion of Landlord’s Restoration Work (excluding Long Lead Work), Landlord shall cooperate with Landlord in connection with the making diligently prosecute to completion any items of such repairs, including without limitation, the making or settlement of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s Property, which Tenant shall complete promptly after substantial completion of Landlord’s repair obligations under this Article 10. In addition, Landlord shall use its reasonable efforts not be obligated to minimize interference with Tenant’s use and occupancy in making repair any repairs pursuant damage to, or to this Section. Anything contained herein to the contrary notwithstandingreplace, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to Alterations unless Tenant shall have notified Landlord of the completion of such Alterations and the Initial cost thereof, and shall have maintained adequate records with respect to such Alterations, . Tenant shall make all necessary repairs to the Specialty Alterations and same shall be completed promptly after substantial completion of Landlord’s obligation to repair the Premises shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirementsobligations under this Article 10.

Appears in 1 contract

Samples: Agreement of Lease (Travelzoo Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) 8.01. If the Premises (including the Alterations) shall be damaged by fire all or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage to the Premises, but excluding damage to the Alterations and Tenant’s Property, shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area any portion of the part of the Premises which is not usable by Tenant (and not actually used by Tenant), bears to the total area of the Premises. Tenant shall cooperate with Landlord in connection with the making of such repairs, including without limitation, the making or settlement of any insurance claims. Landlord shall have no obligation to repair any damage to, or to replace, any Alterations or Tenant’s Property. Landlord shall use its reasonable efforts to minimize interference with Tenant’s use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged demised premises becomes untenantable by fire or other casualty at to the demised premises (collectively a “Casualty”), Landlord, within 90 days following the occurrence of such Casualty, shall cause a reputable, independent general contractor selected by Landlord to provide Landlord and Tenant with a written estimate of the amount of time required using standard working methods to repair and restore the core and shell of the Building and any time common areas of the Building necessary to provide access to the demised premises (“Completion Estimate”). If the Completion Estimate indicates that the core and shell or any common areas of the Building necessary to provide access to the demised premises cannot be made tenantable within 270 days from the date of the Casualty, then either party shall have the right to terminate this Lease upon written notice to the other within 30 days after receipt of the Completion Estimate. In addition, Landlord, by notice to Tenant within 75 days after the date of the Casualty, shall have the right to terminate this Lease if (i) the demised premises have been materially damaged and there is less than 18 months of the term of this Lease remaining on the date of the Casualty, or (ii) the Building shall be so damaged or destroyed (whether or not the demised premises are damaged or destroyed) that repair or restoration shall require the expenditure of more than 50% percent of the full insurable value of the Building (which, for purposes of this Section 8.01, shall mean replacement cost less the cost of footings, foundations and other structures below the street and first floors of the Building) immediately prior to the completion Casualty, provided, with respect to this clause (ii), Landlord shall terminate the leases of other office tenants of the Initial Alterations, Landlord’s obligation to repair the Premises shall be limited to repair Building covering at least 70% of the Premises to substantially leased office space in the condition of Building (including the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirementsdemised premises).

Appears in 1 contract

Samples: Agreement of Lease (Oppenheimer Holdings Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 10.1. (A) If the Premises (including the Alterations other than ------------- Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord. The damage, the damage with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Propertycomply with Requirements, shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as and until the date which is the earlier to occur of (x) the date on which Tenant shall be required in order substantially complete its repair of Specialty Alterations and Tenant's Property pursuant to comply with Requirementsthis Section 10.1 (of which substantial completion Tenant shall promptly notify Landlord), and from (y) the date of such damage until one hundred twenty which is ten (12010) days after date on which Landlord shall notify Tenant that such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and is actually not actually used by Tenant), bears to the total area of the PremisesPremises immediately prior to such casualty. Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property, which Tenant shall complete promptly after substantial completion of Landlord's repair obligations under this Article 10. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations unless Tenant shall have notified Landlord of the completion of such Alterations and the cost thereof, and shall have maintained adequate records with respect to such Alterations. Tenant shall make all necessary repairs to the Specialty Alterations which Tenant desires to maintain in the Premises and same shall be completed promptly after substantial completion of Landlord's repair obligations under this Article 10. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises (and any Alterations) shall be limited to repair of the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date Date, but not the distribution portions of such Building Systems located within the Premises, the floor and ceiling slabs of the Premises and the exterior walls of the Premises, all to substantially the same condition which existed on the Commencement Date, with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: Musicmaker Com Inc

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) If Subject to the Premises (including terms of this Section 10.1, if the Alterations) shall be Landlord Restoration Items are damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to then Landlord, the damage to the Premises, but excluding damage to the Alterations at Landlord's sole cost and Tenant’s Propertyexpense, shall be diligently repaired by and at repair, or shall cause the expense of Condominium Association to diligently repair, with reasonable dispatch, the Landlord Restoration Items to substantially the condition prior to the damage, with such modifications as shall be are required in order to comply with RequirementsRequirements (with the understanding that if applicable Requirements require that the Premises, after the performance of such restoration by Landlord or the Condominium Association, be comprised of less Usable Area than the Usable Area of the Premises immediately prior to the occurrence of such fire or other casualty, then the Fixed Rent that is otherwise due hereunder from and from after the date of such damage until one hundred twenty (120) days after such repairs fire or other casualty shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) adjusted to reflect the Fixed Rent, Escalation Rent and Space Factor shall be reduced reduction in Rentable Area that derives from the proportion which the area of the part restoration of the Premises which is not usable by Tenant (and not actually used by Tenantbeing performed in compliance with such Requirements), bears to the total area of the Premises. Tenant shall cooperate with Landlord in connection with the making of such repairs, including without limitation, the making or settlement of any insurance claims. Landlord shall have no obligation to repair (or to cause the Condominium Association to repair) any damage to, or to replace (or to cause the Condominium Association to replace), any Alterations or Tenant’s PropertyTenant Restoration Items. Landlord shall use its reasonable efforts to minimize interference with Tenant’s use and occupancy in making any repairs pursuant to this Section. Anything contained herein Subject to the contrary notwithstandingterms of this Section 10.1, if the Premises (including any Alterations) are damaged by such fire or other casualty at any time renders all of the Premises untenantable or inaccessible, then the Rental due hereunder shall abaxx xxtil the date that is two hundred seventy (270) days after the date that Landlord (or the Condominium Association) Substantially Completes the restoration of the Landlord Restoration Items. Subject to the terms of this Section 10.1, if such fire or other casualty renders part (but not all) of the Premises untenantable or inaccessible, then the Fixed Rent due hereunder, and the Escalation Rent that would have otherwise been due hereunder assuming that such fire or other casualty did not occur, shall abaxx xx the proportion that (i) the Rentable Area of the portion so rendered untenantable or inaccessible, bears to (ii) the Rentable Area of the Premises, until the date that is two hundred seventy (270) days after the date that Landlord (or the Condominium Association) Substantially Completes the restoration of the Landlord Restoration Items. Tenant shall not be entitled to an abatement of Rental pursuant to this Section 10.1 that extends (a) for more than thirty-six (36) calendar months in respect of a particular fire or other casualty, or (b) beyond the date that a Permitted Occupant uses the Premises (or the applicable portion thereof) for the conduct of business. The Premises (or the applicable portion thereof) shall be deemed untenantable for purposes of this Section 10.1 if, by reason of such fire or other casualty, Tenant could not be reasonably expected to use the Premises as offices for the ordinary conduct of Tenant's business. The Premises, or the applicable portion thereof, shall be deemed to be tenantable for purposes of this Article 10 to the extent that a Permitted Occupant uses the Premises (or such portion thereof) after the applicable fire or after casualty for the conduct of such Permitted Occupant's business. If a fire or other casualty occurs in a Deliverable Unit during the period from the Commencement Date therefor to the Rent Commencement Date therefor, then the Rent Commencement Date for such Deliverable Unit shall be extended for a number of days equal to the sum of (x) the number of days in the period from the date of the applicable fire or other casualty to the date that Landlord Substantially Completes the restoration of the Landlord Restoration Items, and (y) the number of days in the period beginning on the date that Landlord Substantially Completes the Landlord Restoration Items and ending on the date that Tenant restores the Initial Alterations to the condition that existed immediately prior to such fire or other casualty; provided, however, that in no event shall the completion number described in this clause (y) exceed two hundred seventy (270). If (A) after the Statutory Condominium Declaration becomes effective, the unit owners of the Initial AlterationsCondominium do not make the election contemplated by Section 339-cc of the Real Property Law to restore the 92 97 Building after the occurrence of a fire or other casualty (to the extent that such election is required to be made by such unit owners), Landlord’s obligation to repair or (B) applicable Requirements prohibit Landlord from restoring the Premises Landlord Restoration Items, then (x) Landlord shall be limited to repair give Tenant prompt notice thereof, and (y) this Lease shall thereupon terminate, in which case (I) Tenant shall surrender possession of the Premises to substantially Landlord in accordance with the condition terms of Article 20 hereof, (II) any Rental due hereunder shall be apportioned as of the Premises on date of such termination, and (III) any portion of the Commencement Date with Rental that is then prepaid by Tenant and relates to the period after the date of such modifications as termination shall be required in order promptly refunded by Landlord to comply Tenant (with Requirementsthe understanding that Landlord's obligation to make any such refund shall survive such termination of this Lease).

Appears in 1 contract

Samples: Alexanders Inc

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DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (Aa) If Subject to the provisions of Subsection 10.l(b) below, if the Premises (including the Alterations) shall be damaged rendered untenantable by fire or other insured casualty, Landlord shall restore the Premises (excluding Tenant’s trade fixtures and if improvements) and make them tenantable as soon as possible after receipt of the proceeds of property insurance. Rent shall xxxxx during the period of untenantability in proportion to the area of the Premises rendered untenantable, and for up to ninety (90) days after its delivery to Tenant shall give prompt notice thereof in a repaired condition by Landlord to Landlord, the damage allow Tenant to refixture the Premises, but excluding damage in no event after the date on which Tenant re-opens for business to the Alterations and Tenant’s Property, public. All such restoration shall be diligently completed within one hundred eighty (180) days of the date of the casualty or Tenant shall be entitled to terminate this Lease in its sole discretion; provided that Landlord must give Tenant written notice of the date of delivery of the Premises in a repaired by and condition at the expense of Landlord to substantially the condition least 30 days prior to the damage, with such modifications as shall be required in order to comply with Requirements, anticipated delivery date and from the date Tenant must give notice of such damage until one hundred twenty (120) days after such repairs shall be substantially completed (of which substantial completion termination to Landlord shall promptly notify Tenant) not later than the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part day before Landlord tenders delivery of the Premises which is not usable by to Tenant in a repaired condition. Landlord shall advise Tenant within sixty (and not actually used by Tenant), bears to 60) days of any insured casualty whether Landlord estimates that it can rebuild the total area Premises within such period of the Premisestime. Tenant shall cooperate with have the right to extend such period of time for rebuilding by written notice to Landlord in connection with from time-to-time. Notwithstanding the making of such repairsforegoing, including without limitation, the making or settlement of any insurance claims. Landlord shall have no obligation to repair any damage tothe Premises if the casualty is a kind or nature that is uninsured, or to replace, any Alterations or Tenant’s Property. Landlord shall use its reasonable efforts to minimize interference with Tenant’s use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises such casualty occurs less than eighteen (including any Alterations18) are damaged by fire or other casualty at any time months prior to the completion Termination Date or the last day of any option term, unless Tent shall first notify Landlord that it exercises the Initial Alterationsnext available option term, Landlord’s obligation to repair the Premises shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirementsif any.

Appears in 1 contract

Samples: Buffalo Wild Wings (Diversified Restaurant Holdings, Inc.)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 10.1. (A) If the Premises (including the Alterations which shall include Landlord's Work but not Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage damage, with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Property, comply with Requirements shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with and until such modifications repairs which are required to be performed by Landlord (excluding Long Lead Work the absence of which does not in and of itself materially impair Tenant's ability to conduct its business in the Premises in substantially the same manner as prior to such casualty) shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs shall be substantially completed Substantially Completed (of which substantial completion Substantial Completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used by Tenant), bears to the total area of the PremisesPremises immediately prior to such casualty. Tenant shall cooperate with Landlord in connection with Upon the making Substantial Completion of such repairsrepairs (excluding Long Lead Work the absence of which does not in and of itself materially impair Tenant's ability to conduct its business in the Premises in substantially the same manner as prior to such casualty), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations unless Tenant shall have notified Landlord of the completion of such Alterations and the cost thereof. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises (and any Alterations) shall be limited to repair of the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date Date, but not the distribution portions of such Building Systems located within the Premises, the floor and ceiling slabs of the Premises and the exterior walls of the Premises, all to substantially the same condition which existed on the Commencement Date, with such modifications as shall be required in order to comply with Requirements. If a fire or other casualty occurs during the period beginning on (x) the Commencement Date and ending on the day immediately prior to the Tenth Floor Space Rent Commencement Date, or (y) the Seventh Floor Space Commencement Date and ending on the day immediately prior to the Seventh Floor Space Rent Commencement Date, as the case may be, then Tenant, as and for the abatement of Rental as contemplated by this Article 10 by reason of the occurrence of a fire or other casualty during such period, shall have the right to credit against the Rental due hereunder from and after the Applicable Rent Commencement Date an amount equal to the abatement of Rental to which Tenant would have been entitled under this Article 10 if such fire or other casualty occurred immediately after the Applicable Rent Commencement Date.

Appears in 1 contract

Samples: Agreement of Lease (Liveperson Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 10.1. (A) If the Premises (including the Alterations other than ------------- Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage damage, with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Property, comply with Requirements shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent Rent, all additional rental and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used Tenant, as determined by Tenant)Landlord in its reasonable discretion, bears to the total area of the PremisesPremises immediately prior to such casualty. Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property, which Tenant shall complete promptly after substantial completion of Landlord's repair obligations under this Article 10. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations unless Tenant shall have notified Landlord of the completion of such Alterations and the cost thereof, and shall have maintained adequate records with respect to such Alterations. Tenant shall make all necessary repairs to the Specialty Alterations and same shall be completed promptly after substantial completion of Landlord's repair obligations under this Article 10. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises (and any Alterations) shall be limited to repair of the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date Date, but not the distribution portions of such Building Systems located within the Premises, the floor and ceiling slabs of the Premises and the exterior walls of the Premises, all to substantially the same condition which existed on the Commencement Date, with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: Xoom Inc

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 SECTION 10.1. (A) If the Premises (including the Alterations other than Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage damage, with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Property, comply with Requirements shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent Rent, all additional rental and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used Tenant, as determined by Tenant)Landlord in its reasonable discretion, bears to the total area of the PremisesPremises immediately prior to such casualty. Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property, which Tenant shall complete promptly after substantial completion of Landlord's repair obligations under this Article 10. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations unless Tenant shall have notified Landlord of the completion of such Alterations and the cost thereof, and shall have maintained adequate records with respect to such Alterations. Tenant shall make all necessary repairs to the Specialty Alterations and same shall be completed promptly after substantial completion of Landlord's repair obligations under this Article 10. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises (and any Alterations) shall be limited to repair of the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date Date, but not the distribution portions of such Building Systems located within the Premises, the floor and ceiling slabs of the Premises and the exterior walls of the Premises, all to substantially the same condition which existed on the Commencement Date, with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: NBC Internet Inc

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) If the Premises (including the Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt upon notice thereof to Landlord, Landlord the damage to the Premises, but excluding damage to the Alterations and Tenant’s Property, shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty the later of (120i) days after such repairs by Landlord as are required pursuant to this Section 10.1(A) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) or (ii) the earlier of (x) substantial completion by Tenant of such repairs to Alterations or Tenant’s Property to substantially the condition prior to such damage, provided that Tenant shall promptly commence and diligently pursue such repairs or (y) ninety (90) days after Landlord shall have delivered notice of substantial completion of Landlord’s repairs as set forth in item (i) above, the Fixed Rent, Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used by Tenant for purposes of conducting Tenant’s normal business operations), bears to the total area of the Premises. Tenant shall reasonably cooperate with Landlord without any material expense to Tenant in connection with the making of such repairs, including including, without limitation, the making or settlement of any insurance claims. Landlord shall have no obligation to repair any damage to, or to replace, any Alterations or Tenant’s Property. Landlord shall use its reasonable efforts to minimize interference comply with Tenant’s use and occupancy the provisions of Section 4.4 hereof in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s obligation to repair the Premises shall be limited to repair of the Premises to substantially the condition of the Premises on the Commencement Date with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: Agreement of Lease (Kbw, Inc.)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 10.1. (A) If the Premises (including the Alterations other than Specialty Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to LandlordLandlord and the damage, the damage with such modifications as shall be required in order to the Premises, but excluding damage to the Alterations and Tenant’s Property, comply with Requirements shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with Requirements, and from the date of such damage until one hundred twenty (120) days after such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Escalation Rent and Rent, Office Space Factor and Accessory Space Factor (as applicable and taking into account which portion of the Premises is damage or rendered unusable and making adjustment for the fact that the Fixed Rent per rentable square foot is different with respect to the Office Premises and the Accessory Premises and that Tenant's Share has been calculated without taking into account the Accessory Premises) shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and is actually not actually used by Tenant), bears to the total area of the Premises immediately prior to such casualty (it being understood and agreed that Tenant's Share has been determined with respect to the Office Premises only and that Tenant is not obligated to pay Operating Payments or Tax Payments with respect to the Accessory Premises). Tenant shall cooperate with Landlord in connection with Upon the making substantial completion of such repairsrepairs (excluding Long Lead Work), including without limitation, the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, any Specialty Alterations or Tenant’s 's Property, which Tenant shall complete promptly after substantial completion of Landlord's repair obligations under this Article 10. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations unless, if Landlord's insurers shall require notice of the completion of such Alterations and the maintenance of adequate records in connection therewith, Tenant shall have notified Landlord of the completion of such Alterations and the cost thereof, and shall have maintained adequate records with respect to such Alterations. Tenant shall make all necessary repairs to the Specialty Alterations and same shall be completed promptly after substantial completion of Landlord's repair obligations under this Article 10. Landlord shall use its reasonable efforts to minimize interference with Tenant’s 's use and occupancy in making any repairs pursuant to this Section. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s 's obligation to repair the Premises (and any Alterations) shall be limited to repair of the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date Date, but not the distribution portions of such Building Systems located within the Premises, the floor and ceiling slabs of the Premises and the exterior walls of the Premises, all to substantially the same condition which existed on the Commencement Date, with such modifications as shall be required in order to comply with Requirements.

Appears in 1 contract

Samples: Agreement (General Media Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 (A) If the Premises (including the Alterations) shall be damaged by fire or other casualty, and if Tenant shall give prompt notice thereof to Landlord, the damage to the Premises, but excluding damage to the Alterations and Tenant’s Property, shall be diligently repaired by and at the expense of Landlord to substantially the condition prior to the damage, with such modifications as shall be required in order to comply with RequirementsRequirements shall be diligently repaired by and at the expense of Landlord (subject to Landlord’s receipt of the proceeds of Tenant’s “all-risk” property insurance as herein provided) to substantially the condition prior to the damage. The proceeds of “all-risk” property insurance policies providing coverage for Tenant’s Alterations (including, without limitation, the Initial Alterations) and from Tenant’s other improvements, betterments and fixtures shall be paid to Landlord, except to the date extent hereinafter expressly provided to the contrary. Concurrently with the collection of any property insurance proceeds, as aforesaid, Tenant shall pay to Landlord (i) the amount of any deductible under such damage until one hundred twenty policy insuring Tenant’s Alterations (120including, without limitation, the Initial Alterations) and Tenant’s other improvements, betterments and fixtures; and (ii) the amount, if any, by which the cost of repairing and restoring Tenant’s Alterations (including, without limitation, the Initial Alterations) and Tenant’s other improvements, betterments and fixtures, as estimated by an independent reputable contractor designated by Landlord, exceeds the available insurance proceeds therefor. The amounts due in accordance with the immediately preceding subparagraphs (i) and (ii) shall be Additional Rent under this Lease; and shall be payable by Tenant to Landlord within thirty (30) days after demand therefor is made by Landlord accompanied by the contractor’s estimate referred to in the preceding subparagraph (ii), but subject to Sections 10.3 and 10.4. Until such repairs which are required to be performed by Landlord (excluding Long Lead Work) shall be substantially completed (of which substantial completion Landlord shall promptly notify Tenant) the Fixed Rent, Rent and Escalation Rent and Space Factor shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant (and not actually used Tenant, as determined by Tenant)Landlord in its reasonable discretion, bears to the total area of the PremisesPremises immediately prior to such casualty and, during such period, Tenant’s Share and Tenant’s Tax Share shall each be redetermined based upon the proportion in which the rentable area of the Premises usable after such casualty bears to the rentable area of the Premises immediately prior to such casualty. If Tenant disagrees with Landlord’s determination of the abatement of Rent to which Tenant shall cooperate with Landlord be entitled in connection with a fire or other casualty under this Article, Landlord or Tenant may submit such issue to arbitration pursuant to the making provisions of Section 38.7 of this Lease within sixty (60) days from the date of Landlord’s determination (provided, however, that in such event Tenant shall abide by Landlord’s determination and perform all other obligations under this Article in accordance with Landlord’s determination, subject to refund or credit when the matter is resolved by arbitration or by mutual agreement). If Tenant obtains an arbitration decision that Landlord was obligated to axxxx Rent in excess of that abated as a result of Landlord’s determination, Landlord shall within ten (10) Business Days of such repairsdecision permit the abatement of such additional Rent, including without limitationtogether with interest at the Applicable Rate on the amount of Rent so abated calculated from the date that such Rent should have been abated. Upon the substantial completion of such repairs (excluding Long Lead Work), the making or settlement Landlord shall diligently prosecute to completion any items of any insurance claimsLong Lead Work remaining to be completed. Landlord shall have no obligation to repair any damage to, or to replace, all or any Alterations or portion of Tenant’s Property, which Tenant shall complete promptly after substantial completion of Landlord’s repair obligations under this Article 10. In addition, Landlord shall not be obligated to repair any damage to, or to replace, any Alterations (including, without limitation, the Initial Alterations) unless Tenant shall have previously delivered to Landlord “as built” plans and specifications for the Initial Alterations and all other Alterations. Landlord shall use its reasonable efforts to minimize interference with Tenant’s use and occupancy in making any repairs pursuant to this SectionLease. Anything contained herein to the contrary notwithstanding, if the Premises (including any Alterations) are damaged by fire or other casualty at any time prior to the completion of the Initial Alterations, Landlord’s obligation to repair the Premises and any Alterations shall be limited to repair of the Premises to substantially part of the condition of Building Systems serving the Premises on the Commencement Date (but not the distribution portions of such Building Systems located within the Premises), the floor and ceiling slabs of the Premises and the exterior walls of the Premises, all to substantially the same condition which existed on the Commencement Date, with such modifications as shall be required in order to comply with Requirements. Tenant and Landlord shall mutually cooperate in connection with the collection of any insurance monies that may be due in the event of loss resulting from a fire or other casualty, and both parties shall execute and deliver such proofs of loss and other instruments which may be required to recover any such insurance monies.

Appears in 1 contract

Samples: Agreement of Lease (Coty Inc /)

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