Common use of Destruction of Leased Premises Clause in Contracts

Destruction of Leased Premises. In the event of damage or destruction of the Leased Premises by fire or any other casualty, this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board elects not to repair the damage because of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a part.

Appears in 6 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

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Destruction of Leased Premises. In (A) If the event Leased Premises are damaged or destroyed by fire or other casualty covered by insurance, then (1) if totally destroyed or so that the Leased Premises are rendered unleaseable, this Lease shall terminate as of the date of such destruction and Tenant shall be liable for the rent only to the date of such destruction and awards for the Leased Premises shall belong to and be payable to Landlord; or (2) if only partially destroyed and still leasable, Landlord shall, within a reasonable time, repair the Leased Premises with a reasonable reduction in rent from the date of such partial destruction until there be again premises substantially similar in value to Tenant as the Leased Premises partially destroyed. Landlord's obligation to repair or restore the Leased Premises are stated herein as conditioned upon (a) all insurance proceeds and award for the Leased Premises being paid to Landlord, which are sufficient to cover the cost of said repairs and restorations, and (b) there remaining at least twenty four (24) months in the then existing term of this Lease. If Landlord does not repair the Leased Premises because either conditions (a) or (b) are nor met, Landlord shall notify Tenant and this Lease shall terminate as of the date of such partial destruction and Tenant shall be liable for rent only to the date of such partial destruction. (B) If the Leased Premises shall be damaged or destroyed by any hazard not covered by insurance, Landlord shall have the option to cancel this Lease by giving written notice of such cancellation to Tenant within thirty (30) days after the happening of such damage or destruction, but if such option not be exercised and if such damage is not the result of the actor omission of the Tenant, Tenant's employee or agent or invitee, then Landlord at its own expense shall proceed with due diligence to repair and restore the Leased Premises to their condition as existed before such damage or destruction with rent being reduced pro rata in proportion to the decrease in usefulness of the Leased Premises during repairs and restoration. If such damage is the result of the act or omission of the Tenant or Tenant's employee or agent or invitee, then Landlord at it's option may repair or restore the Leased Premises, the cost of which shall be paid for by Tenant in installments or in whole upon notice thereof being given to Tenant by Landlord. (C) Tenant shall give immediate written notice to Landlord or Leasing Agent, of any damage or destruction of the Leased Premises by fire whether it be total or any other casualty, this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board elects not to repair the damage because of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a partpartial.

Appears in 3 contracts

Samples: Lease Agreement (Genesis Financial Group Inc \Va\), Lease Agreement (Genesis Financial Group Inc \Va\), Lease Agreement (Genesis Financial Group Inc \Va\)

Destruction of Leased Premises. In the event of damage or destruction of the Leased Premises by fire or any other casualty, this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored partially or totally destroyed as the case may be result of a peril insured against by the Board insurance policies carried by Landlord and such damage renders the Premises partially or totally untenantable, Landlord shall repair the Premises to the lesser of (i) with respect to the Premises, the condition of the Premises inclusive of Landlord improvements, but exclusive of Tenant improvements, as of lease commencement adjusted for ordinary wear and tear; or (ii) the extent of the insurance proceeds actually received by Landlord allocable to the Premises plus insurance proceeds received by Tenant for the risks set forth herein, which Tenant shall promptly pay over to Landlord to the extent of the Board’s costs incurred by Landlord in such repairs and reconstruction in excess of the insurance proceeds, provided such repair if any, received directly by Landlord. Tenant's insurance carriers shall have not recourse against the Landlord for reimbursement. The Fixed Minimum Rental and or restoration returns other charges shall be abated in proportion to the amount of the Leased Premises rendered untenantable until so repaired. If: (i) more than Twenty percent (20%) of the floor area of the building in which the Leased Premises are located shall be damaged or destroyed by fire or other insured casualty; or (ii) if there is less than Three (3) years of the term of this Lease remaining; (iii) or if in Landlord's opinion the Premises is so extensively or substantially damaged so that reconstruction is impracticable; then Landlord may either elect that the Premises may be repaired or rebuilt or, at its sole option, terminate this Lease by giving Notice to substantially Tenant of its election to so terminate, such Notice to be given within Ninety (90) days after the same condition prior to occurrence of such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for Tenant's obligations to pay rent shall cease as of such other delays date. If Landlord is required or elects to repair or rebuild the Leased Premises as may result from government restrictionsherein provided, Tenant shall repair or replace its merchandise, trade fixtures, furnishings, and controls on construction, if any, equipment in a manner and to at least a condition equal to that prior to its damage or destruction. Tenant shall diligently undertake such repair or replacement in cooperation with Landlord and shall complete such replacement or repair no later than Thirty (30) days after Landlord notifies Tenant that the Premises are ready for strikes, national emergencies occupancy and all rent and other conditions beyond the control charges shall resume in full as of the Boardsuch date. It is agreed that Landlord and Tenant shall agree upon an equitable reduction in Rent in the event of damage or destruction, this Lease shall continue in full force is not terminated and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during destroyed to such an extent that it materially and adversely affects Tenant's business. Such abatement shall in no event exceed the period that the County is deprived proportion of the use square footage of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall is not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board elects not to repair the damage because of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a parttenantable.

Appears in 3 contracts

Samples: Commercial Sub Lease Agreement (XRG Inc), Commercial Sub Lease Agreement (XRG Inc), Commercial Sub Lease Agreement (XRG Inc)

Destruction of Leased Premises. In (A) If the event Leased Premises are damaged or destroyed by fire or other casualty covered by insurance, then (1) if totally destroyed or so that the Leased Premises are rendered unleaseable, this Lease shall terminate as of the date of such destruction and Tenant shall be liable for the rent only to the date of such destruction and awards for the Leased Premises shall belong to and be payable to Landlord; or (2) if only partially destroyed an still leaseable, Landlord shall, within a reasonable time, repair the Leased Premises with a reasonable reduction in rent from the date of such partial destruction until there be again premises substantially similar in value to Tenant as the Leased Premises partially destroyed. Landlord's obligation to repair or restore the Leased Premises are stated herein as conditioned upon (a) all insurance proceeds and award for the Leased Premises being paid to Landlord, which are sufficient to cover the cost of said repairs and restorations, and (b) there remaining at least twenty four (24) months in the then existing term of this Lease. If Landlord does not repair the Leased Premises because either conditions (a) or (b) are not met, Landlord shall notify Tenant and this Lease shall terminate as of the date of such partial destruction and Tenant shall be liable for rent only to the date of such partial destruction. (B) If the Leased Premises shall be damaged or destroyed by any hazard not covered by insurance, Landlord shall have the option to cancel this Lease by giving written notice of such cancellation to Tenant within thirty (30) days after the happening of such damage or destruction, but if such option not be exercised and if such damage is not the result of the act or omission of the Tenant, Tenant's employee or agent or invitee, then Landlord at its own expense shall proceed with due diligence to repair and restore the Leased Premises to their condition as existed before such damage or destruction with rent being reduced pro rata in proportion to the decrease in usefulness of the Leased Premises during repairs and restoration. If such damage is the result of the act or omission of the Tenant or Tenant's employee or agent or invitee, then Landlord at it's option may repair or restore the Leased Premises, the cost of which shall be paid for by Tenant in installments or in whole upon notice thereof being given to Tenant by Landlord. (C) Tenant shall give immediate written notice to Landlord or Leasing Agent, of any damage or destruction of the Leased Premises by fire whether it be total or any other casualty, this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board elects not to repair the damage because of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a partpartial.

Appears in 3 contracts

Samples: Lease Agreement (Genesis Financial Group Inc \Va\), Lease Agreement (Genesis Financial Group Inc \Va\), Lease Agreement (Genesis Financial Group Inc \Va\)

Destruction of Leased Premises. If the Leased Premises or any part thereof shall be damaged by fire or other casualty, this Lease and all of the terms, covenants and conditions hereof shall, subject to the provisions hereinafter set forth, continue in full force and effect. The Tenant shall give prompt notice of such damage or casualty to Landlord, and Landlord shall, subject to the provisions of this paragraph hereafter set forth, upon receiving such notice, proceed, with reasonable diligence and in a manner consistent with the provisions of any underlying leases and mortgages, to repair, or cause to be repaired, such damage, and if the Leased Premises shall be rendered untenantable by reason of such damage, the fixed minimum rent shall be abated for the period from the date of such damage to the date when the damage shall have been repaired as aforesaid; provided, however, that if Landlord shall be unable to collect the insurance proceeds applicable to such damage because of some action or inaction on the part of Tenant, or the employees, licensees, or invitees of Tenant, the cost of repairing such damage shall be paid by Tenant and there shall be no abatement of rent. Tenant acknowledges and agrees that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any trade fixtures, equipment, improvements or appurtenances removable by Tenant under the provisions of this Lease, and that Landlord shall not be obligated to repair any damage thereto or replace the same. Landlord shall not be liable for any inconvenience or annoyance in any way from such damage or the repair thereof. In the event that the Leased Premises or the building(s) shall be damaged substantially or destroyed by such fire or other casualty during the last year of the term of this lease, or of any renewal term, then Landlord may, at its option, terminate this lease and the term and estate hereby granted by notifying Tenant, in writing, of such termination within thirty (30) days after the date of such damage, in which case this Lease and the term and estate hereby granted shall expire as of the date specified in such notice (which date shall not be less than thirty (30) days after the giving of such notice), as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Lease, and the rent and all other sums payable by Tenant under this lease shall be apportioned to the date of such termination. Nothing herein contained shall relieve Tenant from any liability to Landlord or to its insurer in connection with any damage to the Leased Premises or to the property by fire or other casualty if Tenant shall be legally liable in such respect. Anything contained herein to the contrary notwithstanding, it is specifically understood and agreed that Landlord’s obligation to repair and rebuild pursuant to the foregoing shall be limited to a basic building. Except as herein provided, there shall be no obligation to repair or rebuild in the case of fire or other casualty. The provisions of this paragraph shall be considered an express agreement governing any case of damage or destruction of the Leased Premises by fire or any other casualty, this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board . Notwithstanding anything to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that contrary set forth in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. Section In the event that the Board elects not to repair the damage because (i) of a lack of insurance proceedssale, transfer for value by the Landlord herein, or because it successors or assigns, of its interest in the damages are so extensive Building and/or Property as described herein; or (ii) the Landlord herein, or its successors or assigns, intend to demolish the Building (the Building shall be deemed demolished for the purpose of this paragraph even though all or part of the foundation, or all or part of the steel structure, roof and exterior walls of the building shall remain), or decide to make repair economically unfeasible, in which event and at a substantial alteration to the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensationBuilding, or claimto the Premises; or (iii) the Landlord herein or its successors or assigns enters into a lease (a) covering the entire Premises under the Lease or, (b) the entire Building (including or diminution of rent other than as described above will be allowed excluding the land thereunder); or paid, by (iv) the Board, by reason of inconvenience, annoyance, Landlord or injury to business, arising from the necessity of repairing the Leased Premises its successors or any portion of assigns shall sell or transfer the Building of which they are the Premises form a partpart then in any of the aforesaid events, (i) through (iv), the Landlord herein, its successors or assigns shall have the option to cancel this Lease and the term hereof by Notice to the Tenant at least one hundred eighty (180) days prior to the effective date of such cancellation (“Cancellation Date”) and this Lease and the term hereof shall end and expire on the Cancellation Date set forth in such notice as if such date were the date originally set forth herein for the end or expiration of this Lease and the term hereunder.

Appears in 1 contract

Samples: Office Lease (Kalahari Greentech Inc.)

Destruction of Leased Premises. In the event of damage the building or destruction of improvements on the Leased Premises are damaged or destroyed in whole or in part by fire or any other casualty, cause whatsoever during the term of this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destructionLease, this Lease shall continue in full force and effecteffect without any abatement in rent, except for abatement taxes, charges, assessments or other obligations of rent Tenant referred to in this Lease, and Tenant shall, at its own cost and expense, with all reasonable dispatch and diligence, rebuild, restore and/or repair the building or improvements as provided hereinaforesaid to a condition equal or greater in value to that just prior to said damage or destruction in accordance with plans and specifications to be approved in writing by Landlord prior to commencement of said rebuilding, restoration and/or repair. If Tenant shall complete said rebuilding, restoration and/or repair of the condition is such building or improvements as aforesaid within a period not to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of exceed six (6) months from the date of said damage or destruction, subject to extension in the occurrence until event of delays beyond the Leased Premises have been fully restored control of Tenant arising from acts of God, general labor strikes, the acts of Landlord or other contingencies which could not be anticipated or provided for by Tenant. For the Boardpurpose of making such repairs and restorations, Landlord agrees that the proceeds of insurance maintained under Article V, Paragraph 1 above and any additional proceeds received by Landlord, subject to the rights of Mortgagee, if any, may be used on account of the payment therefor in accordance with pay-out procedures established by Landlord or Mortgagee, if any, to insure that there are sufficient funds available for such repairs and restoration and that such work is done in a good and workmanlike manner in accordance with the plans and specifications approved by Landlord and free from any liens for services, materials or supplies. Any unpaid or prepaid rent for the month in which said condition occurs Tenant's obligation to rebuild, restore and/or repair shall be prorated and credited absolute whether or paid not the insurance proceeds available therefor shall be sufficient to defray the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board elects not to repair the damage because of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a partentire cost thereof.

Appears in 1 contract

Samples: Lease Agreement (Officeland Inc)

Destruction of Leased Premises. In 10.01 Landlord agrees, subject to and excepting the event other provisions of damage or destruction of the Leased Premises by fire or any other casualtythis Article, this Lease shall not be terminated, but that if the Leased Premises shall be damaged by fire or other casualty during the terms of this lease, Landlord shall, at Landlord's own expense, use best efforts to cause the damage to be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to within a reasonable time after such damage or destruction. Due allowancehas occurred, however, which period shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided hereinnot exceed six months. If the condition is by reason of such as to make the entire Leased Premises untenantableoccurrence, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that any portion of the Leased Premises is thereby rendered untenantable and Tenant cease use of said portion, the rent and other charges payable by Tenant hereunder shall be abated in proportion to the area of the Leased Premises which continues is rendered untenantable and which is not used by Tenant, said abatement to be tenantable and appropriate for continue until the County’s use sooner of the time when the Leased Premises is repaired or until Tenant uses the damages portion of the Leased Premises. The Board will proceed at its expense Landlord's obligation to restore under this Article shall be limited to the extent of its insurance proceeds made available by any mortgagee having control over the disposition of such proceeds, and as expeditiously as may be practicable . If Landlord shall fail to commence repair the damage. Notwithstanding any within two months of the foregoingcasualty and diligently pursue same to completion, all as a result of the Board shall not be required mortgage failing to expend any fundsmake available casualty insurance proceeds for such repair, other than insurance proceeds, either party may terminate this Lease upon written notice to repair the Leased Premises which have been damaged by casualty. other. 10.02 In the event that the Board elects not to repair the damage because forty percent or more of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises shall be damaged or any portion destroyed by fire or other cause during the Term of this Lease, Landlord or Tenant shall have the Building right, to be exercised by written notice to the other party, within sixty days from and after said occurrence, to elect to cancel and terminate this Lease. Upon the giving of which they are a partsuch notice, the term of this Lease shall expire by lapse of time upon the ninetieth day after such notice is given, and Tenant shall vacate the Leased Premises and surrender the same to Landlord on such date of expiration.

Appears in 1 contract

Samples: Lease (Tsi International Software LTD)

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Destruction of Leased Premises. In the event of damage the building or destruction of improvements on the Leased Premises are damaged or destroyed in whole or in part by fire or any other casualty, cause whatsoever during the term of this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destructionLease, this Lease shall continue in full force and effecteffect without any abatement in rent, except for abatement taxes, charges, assessments or other obligations of rent Tenant referred to in this Lease, and Tenant shall, at its own cost and expense, with all reasonable dispatch and diligence, rebuild, restore and/or repair the building or improvements as provided hereinaforesaid to a condition equal or greater in value to that just prior to said damage or destruction in accordance with plans and specifications to be approved in writing by Landlord prior to commencement of said rebuilding, restoration and/or repair. If Tenant shall complete said rebuilding, restoration and/or repair of the condition is such building or improvements as aforesaid within a period not to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of exceed six (6) months from the date of said damage or destruction, subject to extension in the occurrence until event of delays beyond the Leased Premises have been fully restored control of Tenant arising from acts of God, general labor strikes, the acts of Landlord or other contingencies which could not be anticipated or provided for by Tenant. For the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated purpose of making such repairs and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyedrestorations, then during the period Landlord agrees that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as subject to the rights of Mortgagee, if any, may be practicable to repair the damage. Notwithstanding any used on account of the foregoingpayment therefor in accordance with pay-out procedures established by Landlord or Mortgagee, the Board shall not be required to expend any funds, other than insurance proceedsif any, to insure that there are sufficient funds available for such repairs and restoration and that such work is done in a good and workmanlike manner in accordance with the plans and specifications approved by Landlord and free from any liens for services, materials or supplies. Tenant's obligation to rebuild, restore and/or repair shall be absolute whether or not the Leased Premises which have been damaged by casualtyinsurance proceeds available therefor shall be sufficient to defray the entire cost thereof. In If any surplus remains after completion of such rebuilding, restoring or repair, such surplus shall be paid over to and become the event that the Board elects not to repair the damage because property of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a partLandlord.

Appears in 1 contract

Samples: Lease Agreement (Thermoview Industries Inc)

Destruction of Leased Premises. In 10.01 Landlord agrees, subject to and excepting the event other provisions of damage or destruction of the Leased Premises by fire or any other casualtythis Article, this Lease shall not be terminated, but that if the Leased Premises shall be damaged by fire or other casualty during the term of this lease, Landlord shall, at Landlord's own expense, use best efforts to cause the damage to be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to within a reasonable time after such damage or destruction. Due allowancehas occurred, however, which period shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided hereinnot exceed six months. If the condition is by reason of such as to make the entire Leased Premises untenantableoccurrence, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that any portion of the Leased Premises is thereby rendered untenantable and Tenant ceases use of said portion, the rent and other charges payable by Tenant hereunder shall be abated in proportion to the area of the Leased Premises which continues is rendered untenantable and which is not used by Tenant, said abatement to be tenantable and appropriate for continue until the County’s use sooner of the time when the Leased Premises is repaired or until Tenant uses the damaged portion of the Leased Premises. The Board will proceed at its expense Landlord's obligation to restore under this Article shall be limited to the extent of its Landlord's deductible on Landlord's property insurance policy and the insurance proceeds made available by any mortgagee having control over the disposition of such proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, if there is such a casualty damage materially adversely affecting Tenant's use and enjoyment of the Board shall Leased Premises, and if Tenant does not be required to expend any funds, other than insurance proceeds, to repair vacate the Leased Premises which have been damaged by casualty. but continues to use the same, the rent shall be equitably adjusted based upon the fair rental value of the Leased Premises in its impaired condition, during the period of materially adverse impairment. 10.02 In the event that the Board elects not to repair the damage because fifty percent or more of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises shall be damaged or any portion destroyed by fire or other cause during the Term of this Lease and same shall not be repairable by Landlord within six months, Landlord or Tenant shall have the Building right, to be exercised by written notice to the other party, within sixty days from and after said occurrence, to elect to cancel and terminate this Lease. Upon the giving of which they are a partsuch notice, the term of this Lease shall expire by lapse of time upon the thirtieth day after such notice is given, and Tenant shall vacate the Leased Premises and surrender the same to Landlord on such date of expiration.

Appears in 1 contract

Samples: Lease (Transwitch Corp /De)

Destruction of Leased Premises. In the event of damage or destruction of the Leased Premises by fire or any other casualty, this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board leased premises are damaged to the extent that a substantial part of the building(s) or improvements are rendered unfit for occupancy, and such damage is not a result of UNITED WAY’s negligence, either the CITY or UNITED WAY may elect to terminate the lease as described in Section XX. The CITY shall have no obligation or duty to repair, rebuild or reconstruct the leased premises should such damage occur. However, in the event the CITY elects in its sole discretion to reconstruct the leased premises, the parties may mutually agree to continue the lease in full force and effect for the remainder of the term thereof. To the extent any proceeds of the property insurance maintained by UNITED WAY are not used for repairing, rebuilding or reconstructing the leased premises, such surplus proceeds will be retained by UNITED WAY in an amount not to repair exceed any program aggregate net loss from all three (3) buildings for the calendar year in which the damage because of a lack of insurance proceedsto, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole optiondestruction of, the Board may terminate this Lease forthwithleased premises occurs and for nine (9) months after the expiration of such year, and any remainder of such proceeds will be retained by giving the County a written notice CITY and reimbursed to the CDBG program. UNITED WAY covenants and agrees that it will not hold the CITY or any of its intention agents or employees responsible for any loss occasioned by fire, theft, rain, windstorm, hail or any other cause whatsoever, whether said cause be the direct, indirect or merely a contributing factor in producing the loss to terminate within sixty (60) days after any personal property that may be stored on the date leased premises, whether caused in whole or in part by the negligence of the casualty. No compensationCITY or its officials, officers, agents or claim, or diminution of rent other than as described above will employees; and UNITED WAY agrees all personal property is to be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a partstored at UNITED WAY’s risk.

Appears in 1 contract

Samples: Lease Agreement

Destruction of Leased Premises. SECTION 11.01: In the event of damage the leased premises shall be partially or destruction of the Leased Premises totally destroyed by fire or other casualty insured under the insurance carried by Lessor pursuant to Section 10.02 of this Lease, as to become partially or totally untenantable, the damage to the leased premises shall promptly be repaired by Lessor, to the extent of any proceeds received from such insurance, unless Lessor shall elect not to rebuild as hereinafter provided, and a just and proportionate part of the fixed minimum rental and all other charges shall be abated, annually until so repaired. In no event shall Lessor be required to repair or replace Lessee's merchandise, trade fixtures, furnishings, or equipment. If more than thirty-five percent (35%) of the leased premises or more than thirty-five percent (35%) of the floor area of the: building in which the leased premises are located shall be destroyed by fire or other casualty, this Lease shall not be terminatedthen Lessor may elect whether to repair or rebuild the leased premises or the building of which the leased premises are a part, but the Leased Premises shall be promptly and fully repaired and restored as the case may be, or to terminate this Lease by giving written notice to Lessee of it election to so terminate, such notice to be by given within thirty (30) days after the Board to the extent occurrence of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowanceIf less than 35% of the leased premises is destroyed by fire or other casualty, however, the rent shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond abated by the control percentage of the Boardleased space which is unusable until restored by Lessor. It is agreed that in In the event of damage total or destructionpartial destruction while repairs are being made, this Lease shall continue in full force Lessee must be able to operate his business and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of derive benefit from the use of the damaged portion remaining space. Notwithstanding the foregoing, if the restoration work cannot be accomplished is Sixty (60) days Lessee shall have the option to terminate the Lease upon notice to Lessor. If any restoration work is not completed within Sixty (60) days Lessee shall have the further option of said Leased Premisesterminating the Lease. No rent will be due and payable during any period in which the leased premises are being restored by Lessor. SECTION 11.02: Each party hereto does hereby remise, release, and discharge the County shall only be required to pay rent prorated to reflect that portion other party hereto and any officer, agent, employee, or representative of such, of and from any liability whatsoever hereinafter arising from loss, damage, or injury caused by fire or other casualty from which insurance (permitting waiver of liability and containing a waiver of subrogation) is carried by the Leased Premises which continues to be tenantable and appropriate for injured party at the County’s use time of the Leased Premises. The Board will proceed at its expense loss, damage, or injury to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board elects not to repair the damage because of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, recovery by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a partinjured party under such insurance.

Appears in 1 contract

Samples: Triple Net Lease (Star Services Group Inc)

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