DESTRUCTION OF PREMISES. In the event the premises are totally destroyed, then this lease will be forthwith terminated. In the event the demised premises are part of a building and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said building, then at the option of the Lessor, this lease shall terminate. In the event of partial destruction of the premises, which Lessor elects to or is bound to repair, the same shall be repaired by Lessor as soon as reasonably possible if such repairs can be made in ninety (90) working days after receipt of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option of Lessor, shall terminate; but if not so terminated, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately to the extent Lessee is deprived of the use of the premises. Lessee waives the provisions of sections 1932 (subdivision 2) and 1933 (subdivision 4) of the California Civil Code.
Appears in 2 contracts
Samples: Lease (Argonaut Technologies Inc), Lease (Argonaut Technologies Inc)
DESTRUCTION OF PREMISES. In the event of a partial destruction of the premises said promises during the said term, from any cause, Lessor shall forthwith repair the same, provided such repairs can be made within sixty (60) days from date of destruction under the laws and regulations of the State, Federal, County or Municipal authorities. Partial destruction shall not terminate this lease, except that Lessee shall be entitled to a proportionate deduction in rent while such repairs are totally destroyedbeing made, then this lease will be forthwith terminatedbased upon the extent to which the making of such repairs shall interfere with the business carried on by Lessee In the said premises. In the event the demised premises are part that Lessor does not elect to make, or cannot make, such repairs within such sixty (60) days of a building date of destruction, or such repairs cannot be made under such laws and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said buildingregulations, then this lease may be terminated at the option of either party. In respect to any partial destruction which Lessor is obligated to repair, or may elect to repair under the Lessorterms of this paragraph, the provisions of Section 1932, Subdivision 2 of the civil Code of the State of California are waived by Lessee. In the event that the building in which the premises are situated are destroyed to the extent of not less than thirty-three and one-third percent (33-1/3%) of the replacement cost thereof. Lessor may elect to terminate this lease, whether the promises are injured or not. A total destruction of the building in which the said promises are situated shall terminate this lease shall terminateeffective as of the date of destruction. In the event of partial destruction of the premises, which any dispute between Lessor elects and Lessee relative to or is bound to repair, the same shall be repaired by Lessor as soon as reasonably possible if such repairs can be made in ninety (90) working days after receipt of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option of Lessor, shall terminate; but if not so terminated, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately to the extent Lessee is deprived of the use of the premises. Lessee waives the provisions of sections 1932 (subdivision 2) this paragraph, they shall each select an arbitrator. the two arbitrators so selected shall select a third arbitrator and 1933 (subdivision 4) the three arbitrators so selected shall hear and determine the controversy and their decision shall be final and binding upon both Lessor and Lessee, who shall bear the cost of the California Civil Codesuch arbitration equally between them.
Appears in 2 contracts
Samples: Lease Agreement (Go Online Networks Corp /De/), Lease Agreement (Go Online Networks Corp)
DESTRUCTION OF PREMISES. In the event the premises are totally destroyed, then this lease will be forthwith terminated. In the event the demised premises are part of a building and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said building, then at the option of the Lessor, this lease shall terminate25. In the event of a partial destruction of the premisesPremises during the said term from any cause, which Lessor elects to or is bound to repairshall forthwith repair the same, the same shall be repaired by Lessor as soon as reasonably possible if provided such repairs can be made in ninety (90) working within ?? days after receipt of all permits under the laws, ordinances laws and regulations applicable theretoof State, and also if Federal, County or Municipal authorities, but such partial destruction shall in no way annul or void this Lease, except that Lessee shall be entitled to a proportionate reduction of rent while such repairs are being made, such proportionate reduction to be based upon the necessary financing therefor is obtainable extent to which the making of such repairs shall interfere with the business carried on a reasonable basis from local lending agencies; but if by Lessee in the Premises. If such repairs cannot be so mademade in ?? days, then Lessor may, at his option, make same within a reasonable time, this leaseLease continuing in full force and effect and the rent to be proportionately reduced as aforesaid in ?? days, or such repairs cannot be made under such laws and regulations, this Lease may be terminated at the option of Lessoreither party. In respect to any partial destruction which Lessor is obligated to repair or may elect to repair under the terms of this paragraph, shall terminate; but if not so terminatedthe provision of Section 1932, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's businessSubdivision 2, and of Section 1933, Subdivision 4, of the rent for such period shall Civil Code of the State of California are waived by Lessee. In the event that the building in which the Premises may be reduced proportionately situated be destroyed to the extent Lessee is deprived of not less than 33 1/3% of the use replacement cost thereof, Lessor may elect to terminate this Lease, whether the Premises be injured or not. A total destruction of the premisesbuilding in which the Premises may be situated shall terminate this Lease. In the event of any dispute between Lessor and Lessee waives relative to the provisions of sections 1932 (subdivision 2) this paragraph, they shall each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and 1933 (subdivision 4) the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding upon both Lessor and Lessee, who shall bear the cost of the California Civil Code.such arbitration equally between them. ASSIGNMENT AND SUBLETTING
Appears in 1 contract
Samples: Cidco Inc
DESTRUCTION OF PREMISES. In the event of a partial destruction of the premises during the term hereof, from any cause, Lessor shall forthwith repair the same, provided that such repairs can be made within sixty (60) days under existing governmental laws and regulations, but such partial destruction shall not terminate this lease, except that Lessee shall be entitled to a proportionate reduction of rent while such repairs are totally destroyedbeing made, then based upon the extent to which the making of such repairs shall interfere with the business of Lessee on the premises. If such repairs cannot be made within said sixty (60) days, Lessor, at his option, may make the same within a reasonable time, this lease will continuing in effect with the rent proportionately abated as aforesaid, and in the event that Lessor shall not elect to make such repairs which cannot be forthwith terminatedmade within sixty (60) days, this lease may be terminated at the option of either party. In the event that the building in which the demised premises are part of a building and such building may be situated is damaged destroyed to such an extent that the cost of repairs exceeds not less than one-third of the cost of replacement of said building, then at costs thereof. Lessor may elect to terminate this lease whether the option demised premises be injured or not. A total destruction of the Lessor, building in which the premises may be situated shall terminate this lease shall terminatelease. In the event of partial destruction any dispute between Lessor and Lessee with respect to the provisions hereof, the matter shall be settled by arbitration in such a manner as the parties may agree upon, or if they cannot agree, in accordance with the rules of the premises, which Lessor elects to or is bound to repair, the same shall be repaired by Lessor as soon as reasonably possible if such repairs can be made in ninety (90) working days after receipt of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option of Lessor, shall terminate; but if not so terminated, then Lessor shall repair the same as soon as reasonably possibleAmerican Arbitration Association. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately to the extent Lessee is deprived of the use of the premises. Lessee waives the provisions of sections 1932 (subdivision 2) and 1933 (subdivision 4) of the California Civil Code.DATED 10-20-94 DATE 10/21/94 ---------------------------- -------------------------- SIGN [SIGNATURE ILLEGIBLE] SIGN [SIGNATURE ILLEGIBLE] -----------------------------Lessor ---------------------------Lessor
Appears in 1 contract
Samples: Restoration Hardware Inc
DESTRUCTION OF PREMISES. In the event the premises are totally destroyed, then this lease will be forthwith terminated. In the event the demised premises are part of a building and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said building, then at the option of the Lessor, this lease shall terminate25. In the event of a partial destruction of the premisesPremises during the term of this Lease from any cause covered by insurance carried, which Lessor elects or required to or is bound to repairbe carried, the same shall be repaired by Lessor as soon as reasonably possible if under this Lease, Lessor shall forthwith repair the same, provided such repairs can be made in ninety within two hundred seventy (90270) working days after receipt of all permits following such partial destruction under the laws, ordinances laws and regulations applicable theretoof State, and also if Federal, County or Municipal authorities, but such partial destruction shall in no way annul or void this Lease, except that Lessee shall be entitled to a proportionate reduction of rent while such repairs are being made, such proportionate reduction to be based upon the necessary financing therefor extent to which the making of such repairs shall interfere with the business carried on by Lessee in the Premises. If the cause of such repairs is obtainable on not so covered by insurance or cannot be made in two hundred seventy (270) days, Lessor may, at his option, make same within a reasonable basis from local lending agencies; but if time, this Lease continuing in full force and effect and the rent to be proportionately reduced as aforesaid in this paragraph provided. In the event that Lessor does not so elect to make such repairs the cause of which is not so covered by insurance or such repairs cannot be so mademade in two hundred seventy (270) days under such laws and regulations, then this lease, Lease may be terminated at the option of Lessoreither party. In respect to any partial destruction which Lessor is obligated to repair or may elect to repair under the terms of this paragraph, shall terminate; but if not so terminatedthe provision of Section 1932, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's businessSubdivision 2, and of Section 1933, Subdivision 4, of the rent for such period shall Civil Code of the State of California are waived by Lessee. In the event that the Building be reduced proportionately destroyed to the extent Lessee is deprived of not less than 33 1/3% the replacement cost thereof, Lessor may elect to terminate this Lease, whether the Premises be injured or not. A total destruction of the use Building shall terminate this Lease. In the event of the premises. any dispute between Lessor and Lessee waives relative to the provisions of sections 1932 (subdivision 2) this paragraph, they shall each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and 1933 (subdivision 4) the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding upon both Lessor and Lessee, who shall bear the cost of the California Civil Codesuch arbitration equally between them.
Appears in 1 contract
DESTRUCTION OF PREMISES. In the event of a partial destruction of the premises Premises or to the building in which the Premises are totally destroyedcontained, then such that these and occupancy by Tenant is adversely affected during the term of this lease will Lease, from any cause, Landlord shall forthwith repair the same and restore the same to the condition as of the date of this Lease (but Landlord shall have no obligation to repair or restore Tenant’s trade fixtures or Tenant owned alterations), provided that such repairs can be forthwith terminatedmade within one hundred twenty (120) days under existing governmental laws and regulations, but such partial destruction shall not terminate this Lease and, if the destruction is not attributable to Tenant’s negligence, Tenant shall be entitled to a proportionate reduction of rent while such repairs are being made, based upon the extent to which the making of such repairs shall interfere with the business of Tenant on the Premises (as determined in Tenant’s commercially reasonable discretion). In If such repairs cannot be completed within said one hundred twenty (120) days, Landlord, at its option, may make the same within a reasonable time, this Lease continuing in effect with the rent proportionately abated and in the event the demised premises are part of a building and that Landlord shall not elect to make such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said building, then at the option of the Lessorwhich cannot be made within one hundred twenty (120) days, this lease shall terminateLease may be terminated by either party by written notice sent tot the other. In the event of partial a destruction of fifty percent (50%) or more of the premisesbuilding in which the Premises may be situated, which Lessor elects either the Landlord or Tenant shall have the right and option to or is bound terminate this lease by written notice to repair, the same shall be repaired by Lessor as soon as reasonably possible if such repairs can be made in ninety other within thirty (9030) working days after receipt the date of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option of Lessor, shall terminate; but if not so terminated, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately to the extent Lessee is deprived of the use of the premises. Lessee waives the provisions of sections 1932 (subdivision 2) and 1933 (subdivision 4) of the California Civil Codedestruction.
Appears in 1 contract
Samples: Commercial Lease Agreement
DESTRUCTION OF PREMISES. In the event the premises are totally destroyed, then this lease will be forthwith terminated. In the event the demised premises are part of a building and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said building, then at the option of the Lessor, this lease shall terminate. In the event of a partial destruction of the premisessaid Premises during the Lease Term from any cause which is covered by Lessor's property insurance, which Lessor elects to or is bound to repairshall forthwith repair the same, the same shall be repaired by Lessor as soon as reasonably possible if provided such repairs can be made in ninety within one hundred eighty (90180) working days after receipt the date of all permits the casualty, but such partial destruction shall in no way annul or void this Lease, except that Lessee shall be entitled to a proportionate reduction of Rent. With respect to any partial destruction which Lessor is obligated to repair or may elect to repair under the lawsterms of this paragraph, ordinances and regulations applicable theretothe provision of Section 1932, Subdivision 2, and also if of Section 1933, Subdivision 4, of the necessary financing therefor Civil Code of the State of California are waived by Lessee. In the event that the building in which the subject Premises may be situated is obtainable on a reasonable basis from local lending agencies; but if such repairs destroyed to an extent greater than thirty-three and one-third percent (33 1/3%) of the replacement cost thereof or which cannot be so madecompleted within 6 months after the casualty, then this leaseLessor or Lessee may, at their sole option, elect to terminate this Lease. A total destruction of the building in which the subject Premises are situated shall terminate this Lease. Notwithstanding the above, Lessor is only obligated to repair or rebuild to the extent of available insurance proceeds including any deductible amount paid by Lessee. Should Lessor determine that insufficient or no insurance proceeds are available for repair or reconstruction of Premises, Lessor, at its sole option, may terminate the Lease. Lessee shall have the option of Lessor, shall terminate; but if not so terminated, then Lessor shall continuing this Lease by agreeing to pay all repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately costs to the extent Lessee is deprived of the use of the premises. Lessee waives the provisions of sections 1932 (subdivision 2) and 1933 (subdivision 4) of the California Civil Codesubject Premises.
Appears in 1 contract
Samples: Cei Systems Inc
DESTRUCTION OF PREMISES. In the event of a partial destruction of the premises said Premises during the said term, from any cause, Landlord shall forthwith repair the same, provided such repairs can be made within sixty (60) days under the laws and regulations of State, Federal, County or Municipal authorities, but such partial destruction shall in no wise annul or void this Lease, except that Tenant shall be entitled to a proportionate deduction of rent while such repairs are totally destroyedbeing made, then such proportionate deduction to be based upon the extent to which the making of such repairs shall interfere with the business carried on by Tenant in the said Premises. If such repairs cannot be made in sixty (60) days, Landlord may, at his option, make same within a reasonable time, this lease will Lease continuing in full force and effect and the rent to be forthwith terminatedproportionately rebated as aforesaid in this paragraph provided. In the event the demised premises are part of a building that Landlord does not so elect to make such repairs which cannot be made in sixty (60) days, or such repairs cannot be made under such laws and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said buildingregulations, then this Lease may be terminated at the option of either party. In respect to any partial destruction which Landlord is obligated to repair or may elect to repair under the Lessorterms of this paragraph, the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4, of the Civil Code of the State of California are waived by Tenant. In the event that the building in which the demised Premises may be situated be destroyed to the extent of not less than 33 1/3% of the replacement cost thereof, Landlord may elect to terminate this lease Lease, whether the demised Premises be injured or not. A total destruction of the building in which the said Premises may be situated shall terminateterminate this Lease. In the event of partial destruction of the premises, which Lessor elects any dispute between Landlord and Tenant relative to or is bound to repair, the same shall be repaired by Lessor as soon as reasonably possible if such repairs can be made in ninety (90) working days after receipt of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option of Lessor, shall terminate; but if not so terminated, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately to the extent Lessee is deprived of the use of the premises. Lessee waives the provisions of sections 1932 (subdivision 2) this paragraph, they shall each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and 1933 (subdivision 4) the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding on both Landlord and Tenant, who shall bear the cost of the California Civil Codesuch arbitration equally between them.
Appears in 1 contract
Samples: The Lease Renewal Agreement (Western Sierra Bancorp)
DESTRUCTION OF PREMISES. In the event of damage or partial destruction of the premises Premises during the Term, from any cause covered by insurance carried, or required to be carried, by Lessor under this Lease, Lessor shall forthwith repair the same, provided (a) no Event of Default is continuing, (b) such repairs can, in Lessor’s reasonable judgment, be completed by within one hundred eighty (180) days after such damage under the laws and regulations of State, Federal, County or Municipal authorities, and (c) Lessee shall assign to Lessor the proceeds of the insurance Lessee is required to carry on the improvements and betterments in the Premises in accordance with paragraph 10.2. Such damage or partial destruction shall in no way annul or void this Lease. Lessee shall be entitled to a proportionate reduction of rent while such repairs are totally destroyedbeing made, then such proportionate reduction to be based upon the extent to which the making of such repairs shall interfere with the business carried on by Lessee in the Premises. If the cause of such repairs is not so covered by insurance or cannot, in Lessor’s reasonable judgment, be completed within one hundred eighty (180) days after the damage or partial destruction, Lessor shall provide Lessee written notice thereof (“Lessor’s Damage Notice”) within sixty (60) days after such damage occurs and Lessor may, at its option, elect (and shall notify Lessee of such election in Lessor’s Damage Notice) to (a) make such repairs within a reasonable time, this lease will be forthwith terminatedLease continuing in full force, or (b) terminate this Lease by notice to Lessee. In the event that Lessor does not so elect to make such repairs because the demised premises damage is not covered by insurance or cannot be made in one hundred eighty (180) days under applicable laws and regulations, Lessee or Lessor may terminate this Lease by written notice to the other given within thirty (30) days after delivery of Lessor’s Damage Notice. In respect to any partial destruction which Lessor is obligated to repair or may elect to repair under the terms of this paragraph, the provisions of Section 1932, Subdivision 2, and of Section 1933, Subdivision 4, of the Civil Code of the State of California are part of a building and such building waived by Lessee. In the event that the Building is damaged to such an extent that and the cost of repairs exceeds one-third to repair the damage and restore the Building to its previous condition (including any required code upgrades) would, in Lessor’s reasonable judgment, exceed 33 1/3% of the replacement cost of replacement of said buildingthe Building and other improvements on the Premises, then at Lessor may elect to terminate this Lease, whether the option Premises are damaged or not. A total destruction of the Lessor, Building shall terminate this lease shall terminateLease. In the event of partial destruction of the premises, which any dispute between Lessor elects and Lessee relative to or is bound to repair, the same shall be repaired by Lessor as soon as reasonably possible if such repairs can be made in ninety (90) working days after receipt of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option of Lessor, shall terminate; but if not so terminated, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately to the extent Lessee is deprived of the use of the premises. Lessee waives the provisions of sections 1932 (subdivision 2) and 1933 (subdivision 4) this paragraph, such dispute shall be resolved by mandatory arbitration pursuant to the Commercial Arbitration Rules of the California Civil CodeAmerican Arbitration Association, using a panel of three (3) neutral arbitrators. The three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding upon both Lessor and Lessee, who shall bear the cost of such arbitration equally between them.
Appears in 1 contract
Samples: Lease Is (Exar Corp)
DESTRUCTION OF PREMISES. In the event of a partial destruction of the ----------------------- premises during the term from any cause, Lessor shall forthwith repair the same, provided the repairs can be made within thirty (30) days, or such other period of time upon which Lessor and Lessee shall agree, under the laws and regulations of applicable governmental authorities. Any partial destruction shall neither annul nor void this lease, except that the Lessee shall be entitled to a proportionate reduction of rent while the repairs are totally destroyedbeing made, then any proportionate reduction being based on the extent to which the making of repairs shall interfere with the business carried on by Lessee in the premises. If the repairs are made within thirty (30) days, this lease will shall continue in full force and effect and the rent shall be forthwith terminatedproportionately rebated as previously set forth in this section. In the event that Lessor does not elect to make repairs that cannot be made in the demised premises are part of a building specified time, or those repairs cannot be made under the laws and such building is damaged to such an extent that the cost of repairs exceeds one-third regulations of the cost of replacement of said buildingapplicable governmental authorities, then this lease may be terminated at the option of the Lessor, this lease shall terminateeither party. In the event of any partial destruction that Lessor is obligated to repair or may elect to repair under the terms of the premises, which Lessor elects to or is bound to repairthis paragraph, the same shall be repaired by Lessor as soon as reasonably possible if such provisions of any applicable law-authorizing Lessee to make repairs can be made in ninety (90) working days after receipt of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option expense of Lessor, shall terminate; but if not so terminated, then Lessor shall repair are hereby waived by Lessee. Should the same as soon as reasonably possible. During building in which the time such repairs demised premises are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall situated be reduced proportionately destroyed to the extent Lessee is deprived of not less than Forty Percent (40%) of the use of the premisesreplacement cost thereof, this lease shall be terminated. Any dispute between Lessor and Lessee waives relative to the provisions of sections 1932 (subdivision 2) this section shall be subject to arbitration, pursuant to Section 25, below. Each party shall select an arbitrator and 1933 (subdivision 4) the two arbitrators so selected shall select a third arbitrator between them, the controversy being heard by the three arbitrators so selected. The decision of the California Civil Codethree arbitrators shall be final and binding on both Lessor and Lessee, who shall bear the cost of the arbitration equally between them.
Appears in 1 contract
Samples: Verdant Brands Inc
DESTRUCTION OF PREMISES. In the event of a partial destruction of the said premises during the said term, from any cause, Lessor shall forthwith repair the same, provided such repairs can be made within sixty (60) days under the laws and regulations of State, Federal, County or Municipal authorities, but such partial destruction shall in no wise annul or void this lease, except that Lessee shall be entitled to proportionate deduction of rent while such repairs are totally destroyedbeing made, then such proportionate deduction to be based upon the extent to which the making of such repairs shall interfere with the business carried on by Lessee in the said premises. If such repairs cannot be made in sixty (60) days, Lessor may, at his option, make same within a reasonable time, this lease will continuing in full force and effect and the rent to be forthwith terminatedproportionately rebated as aforesaid in this paragraph provided. In the event the demised premises are part of a building that Lessor does not so elect to make such repairs which cannot be made in sixty (60) days, or such repairs cannot be made under such laws and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said buildingregulations, then this lease may be terminated at the option of either party. In the Lessorevent that the building in which the demised premises may be situated is destroyed to the extent of not less than 33 1/3 % of the replacement cost thereof, Lessor may elect to terminate the lease, whether the demise premises be injured or not. A total destruction of the building in which the said premises may be situated shall terminate this lease shall terminatelease. In the event of partial destruction of any dispute between Lessor and Lessee relative to the premisesprovisions this paragraph, which Lessor elects to or is bound to repairthey shall each select an arbitrator, the same two arbitrators so selected shall select a third arbitrator and the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be repaired by final and binding upon Lessor as soon as reasonably possible if and Lessee, who shall bear the cost of such repairs can be made in ninety (90) working days after receipt of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option of Lessor, shall terminate; but if not so terminated, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately to the extent Lessee is deprived of the use of the premises. Lessee waives the provisions of sections 1932 (subdivision 2) and 1933 (subdivision 4) of the California Civil Codearbitration equally between them.
Appears in 1 contract
Samples: Atlantic Syndication Network Inc
DESTRUCTION OF PREMISES. In the event the premises are totally destroyed, then this lease will be forthwith terminated. In the event the demised premises are part of a building and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said building, then at the option of the Lessor, this lease shall terminate. In the event of a total or partial destruction of the premisesPremises from any cause, which Lessor elects Tenant shall give immediate notice thereof to or is bound to repairLandlord and Landlord shall forthwith repair the same, the same shall be repaired by Lessor as soon as reasonably possible if provided such repairs can be made within ninety (90) days by working in the usual and ordinary manner without overtime or other premium charges for expedited work or materials and under the laws and regulations of State, County of Municipal authorities, but such destruction or damage shall in no way annul or void this Lease. Landlord's obligation to repair shall not include the restoration or replacement of Tenant's trade fixtures, equipment, merchandise or any improvements or alternations made by Tenant to the Premises. Tenant shall be required to restore or replace same in the event of damage. Tenant shall be entitled to a proportionate deduction of rent while such repairs are being made (provided the destruction or damage shall not have been caused by the fault or neglect of Tenant, its agents, servants, employees or invitees), such proportionate deduction to be based upon the extent to which the making of such repairs shall interfere with the business carried on by Tenant in the Premises. If such repairs cannot be made in said manner in ninety (90) working days after receipt of all permits under the lawsdays, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if or such repairs cannot be so mademade under such laws and regulations, then this lease, Lease may be terminated at the option of Lessoreither party. In respect to any damage or destruction which Landlord is obligated to repair or may elect to repair under the terms of this paragraph, shall terminate; but if not so terminatedthe provisions of Section 1932, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's businessSubdivision 2, and Section 1933, Subdivision 4, or the rent for such period shall Civil Code of the State of California, are waived by Tenant. In the event that the Building be reduced proportionately damaged or destroyed to the extent Lessee is deprived of not less than 33-1/3% of the use of replacement cost hereof, Landlord may, at Landlord's sole option, elect to terminate this Lease, whether the premises. Lessee waives the provisions of sections 1932 (subdivision 2) and 1933 (subdivision 4) of the California Civil CodePremises be injured or not.
Appears in 1 contract
Samples: Intellisys Group Inc
DESTRUCTION OF PREMISES. In the event the premises are totally destroyed, then this lease will be forthwith terminated. In the event the demised premises are part of a building and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said building, then at the option of the Lessor, this lease shall terminate25. In the event of a partial destruction of the premisesPremises during the said term from any cause covered by Insurance except earthquake, which Lessor elects to or is bound to repairshall forthwith repair the same, the same shall be repaired by Lessor as soon as reasonably possible if provided such repairs can be made within ninety (90) days under the laws and regulations of State, Federal, County or Municipal authorities, but such partial destruction shall in no way annul or void this Lease, except that Lessee shall be entitled to a proportionate reduction of rent while such repairs are being made, such proportionate reduction to be based upon the extent to which the making of such repairs shall interfere with the business carried on by Lessee in the Premises. If such repairs cannot be made in ninety (90) working days after receipt of all permits under the lawsdays, ordinances and regulations applicable theretoLessor may, and also if the necessary financing therefor is obtainable on at his option, make same within a reasonable basis from local lending agencies; but if time not to exceed one hundred eighty (180) days, this Lease continuing in full force and effect and the rent to be proportionately reduced as aforesaid in this paragraph provided. In the event that Lessor does not so elect to make such repairs which cannot be made in ninety (90) days, or such repairs cannot be so mademade under such laws and regulations within one hundred eighty (180) days, then this lease, Lease may be terminated at the option of Lessoreither party. In respect to any partial destruction which Lessor is obligated to repair or may elect to repair under the terms of this paragraph, shall terminate; but if not so terminatedthe provision of Section 1932, then Lessor shall repair the same as soon as reasonably possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's businessSubdivision 2, and of Section 1933, Subdivision 4, of the rent for such period shall Civil Code of the State of California are waived by Lessee. In the event that the building in which the Premises may be reduced proportionately situated be destroyed to the extent Lessee is deprived of not less than thirty three and one third percent (331/3%) of the use replacement cost thereof, Lessor may elect to terminate this Lease, whether the Premises be injured or not. A total destruction of the premisesbuilding in which the Premises may be situated shall terminate this Lease. In the event of any dispute between Lessor and Lessee waives relative to the provisions of sections 1932 (subdivision 2) this paragraph, they shall each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and 1933 (subdivision 4) the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding upon both Lessor and Lessee, who shall bear the cost of the California Civil Code.such arbitration equally between them. Assignment and Subletting
Appears in 1 contract
DESTRUCTION OF PREMISES. In the event the premises are totally destroyed, then this lease will be forthwith terminated. In the event the demised premises are part of a building and such building is damaged to such an extent that the cost of repairs exceeds one-third of the cost of replacement of said building, then at the option of the Lessor, this lease shall terminate. In the event of partial destruction of the premises, which Lessor elects to or is bound to repair, the same shall be repaired by Lessor as soon as reasonably possible if such repairs can be made in ninety (90) working days after receipt of all permits under the laws, ordinances and regulations applicable thereto, and also if the necessary financing therefor is obtainable on a reasonable basis from local lending agencies; but if such repairs cannot be so made, then this lease, at the option of Lessor, shall terminate; but if not so terminated, then Lessor shall repair the same as soon as reasonably reasonable possible. During the time such repairs are being made Lessor shall not unreasonably interfere with Lessee's business, and the rent for such period shall be reduced proportionately to the extent Lessee is deprived of the use of the premises. Lessee waives lessee wives the provisions of sections 1932 (subdivision 2) and 1933 (subdivision 4) of the California Civil Code. In the event of partial or total destruction, Lessee shall have the right to cancel this lease.
Appears in 1 contract
Samples: Lease (Resound Corp)