Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore). (b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 3 contracts
Samples: Lease Agreement (Global Payments Inc), Lease Agreement (Global Payments Inc), Lease Agreement (Global Payments Inc)
Destruction or Damage. (a) If the Building Premises or the Premises are totally destroyed Building is partially damaged by storm, fire, earthquake, other insured peril, or other casualtyact of God, or damaged Landlord shall repair the same at Landlord’s expense, subject to the extent thatprovisions of this Article and provided such repairs can, in Landlord's ’s reasonable opinion the damage cannot opinion, be restored made within one hundred eighty sixty (18060) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore days. During such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) aboverepairs, this Lease shall remain in full force and effect, except that if there shall be damage to the Premises or the Building and such damage is not the result of the negligence or willful misconduct of Tenant, Tenant’s employees, agents, or invitees, Rent shall be abated for such portion of Premises and period of time as the Premises was unusable by Tenant, provided that such abated rent is a covered loss payable to Landlord shall notify under its insurance policy.
(b) If in Landlord’s reasonable opinion the partially damaged Premises or the Building can be repaired, but not within sixty (60) days, the Landlord may elect, upon written notice to Tenant in writing within forty-five thirty (4530) days of such damages, to repair such damages over a longer time period and continue this Lease in full force and effect, subject to rent abatement as described in the date of the damage that the damage will be restored (and will foregoing paragraph. Landlord’s notice shall include Landlord's a good faith estimate of the expected completion date of such repair based on the restoration will best information reasonably available to Landlord prior to sending the notice. In the event such repairs cannot be complete)made within an additional sixty (60) days, Tenant shall have the option to terminate this Lease provided that written notice is given to Landlord within thirty (30) days of receipt of Landlord’s notice stated in which case Rent this paragraph.
(c) If the partially damaged Premises or the Building is to be repaired under this Article, Landlord at its sole cost and expense shall xxxxx as repair such damages to any portion of the Building, the Premises which is not usableand the Tenant Improvements supplied by Landlord herein. Except in the event of Landlord’s gross negligence or willful misconduct or the extent that Landlord receives insurance proceeds therefor, Tenant shall be responsible for repairing and/or replacing any damage to Tenant’s equipment, furniture and fixtures, and Landlord shall restore other Alterations, additions and improvements made by Tenant to the Premises and the Building.
(d) If in Landlord’s reasonable opinion, the Premises or the Building is totally or substantially destroyed (i.e. cannot be repaired within sixty (60) days and Landlord does not elect to substantially the same condition repair anyway or Tenant elects to terminate as before the damage occurred as soon as practicableprovided above) by fire or other casualty, whereupon full Rent this Lease shall recommenceterminate upon notice by Landlord.
Appears in 3 contracts
Samples: Commercial Triple Net Lease (Extend Health Inc), Commercial Triple Net Lease (Extend Health Inc), Commercial Triple Net Lease (Extend Health Inc)
Destruction or Damage. (a) If the Building Premises or the Premises are totally destroyed portion of the Building necessary for Tenant’s occupancy is damaged by storm, fire, earthquake, or act of God, the elements of other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Section, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion the damage cannot ’s opinion, be restored completed within one hundred eighty (18090) days of the date ninety days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty determines that repairs can be completed within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect, except that if such damage is not the result of misconduct or willful misconduct of Tenant or Tenant’s agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant’s use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord shall notify under Section 19.
(b) If in Landlord’s opinion, such repairs to the Premises or portion of the Building necessary for Tenant’s occupancy cannot be completed within ninety (90) days, Landlord may elect, upon notice to Tenant in writing given within forty-five thirty (4530) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19. If Landlord does not so elect to make such repairs, this Lease shall terminate as to the date of such fire or other casualty.
(c) If any other portion of the Building or Project is totally destroyed or damaged to the extent that in Landlord’s opinion repair thereof cannot be completed within ninety (90) days, Landlord may elect upon notice to Tenant given within thirty (30) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19. If Landlord does not elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
(d) If the Premises are to be repaired under this Section, Landlord shall repair at its cost any injury or damage that to the Building and Building Standard Work in the Premises. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant’s Property unless damage will was a result of Landlord’s willful negligence. Landlord shall not be restored (and will include Landlord's good faith estimate liable for any loss of the date the business, inconvenience or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usablePremises, Building or Project as a result of any damage from fire or other casualty.
(e) This Lease shall be considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord and Tenant in such circumstances in the absence of express agreement, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application.
Appears in 3 contracts
Samples: Office Lease (Arcadia Biosciences, Inc.), Office Lease (Arcadia Biosciences, Inc.), Office Lease (Arcadia Biosciences, Inc.)
Destruction or Damage. (a) 20.01 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed or rendered inaccessible by stormfire or other cause or any other factors such as, firefor example, earthquakedamage to other parts of the Building or the areas surrounding the Building, floods, acts of terrorism, etc., then, whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or other casualtyits employees, agents or damaged visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises at its expense, with reasonable dispatch after notice to it of the damage or destruction provided, however, that Landlord shall not be required to repair or replace any of Tenant’s Property nor to restore any of Tenant’s initial installations in and to the Demised Premises (except and to the extent thatthat they become part of the realty and become Landlord’s property).
20.02 If the Building or the Demised Premises shall be partially damaged or partially destroyed or rendered inaccessible by fire or other cause or any other factors as set forth above, in Landlord's reasonable opinion the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered inaccessible or untenantable and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untentantable on account of fire or other cause, the rents shall xxxxx of the date of the damage or destruction and until Landlord shall repair, restore and rebuild the Buildings and the Demised Premises; provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
20.03 If the Building shall be totally damaged or destroyed by fire or other cause, or if the Building shall be damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than forty (40%) percent of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this Lease provided that Landlord terminates all other leases in the Building at the same time, by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date Landlord provides casualty. Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as has a result Landlord elects not to restore such damage, Landlord or Tenant shall have the reciprocal right to terminate should such a casualty occur in the last year of the Term. Such notice by Landlord must be sent no later than 180 days after such damage or casualty. In case of any damage or destruction mentioned in this Lease effective as Sections 20.01, 20.12 or 20.03, Tenant may terminate this Lease, by notice to Landlord, if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within 270 days from the date of such destruction damage or damage destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord may have been delayed in doing so by written notice to the adjustment of insurance, labor trouble, governmental controls, acts of God, or any other on cause beyond Landlord’s reasonable control.
20.04 No damages, compensation or before thirty (30) days following Landlord's notice described in the next sentence and Rent claim shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date business or annoyance arising from any repair or restoration of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises which is not usableor of the Building pursuant to this Article. In all events, and Landlord shall restore use commercially reasonable efforts to minimize interference with Tenant’s business and to remedy the Premises factors giving rise to substantially the same condition delay or interruption as before the damage occurred expeditiously as soon as practicable, whereupon full Rent shall recommencepossible.
Appears in 2 contracts
Samples: Lease Agreement (Blue Apron Holdings, Inc.), Lease Agreement (Blue Apron Holdings, Inc.)
Destruction or Damage. (a) 22.01 If the Building Demised Premises and/or access thereto shall be partially or the Premises are totally damaged or destroyed by storm, fire, earthquake, fire or other casualty, then, Landlord shall, subject to its right under Section 22.03 hereof, repair such damage and restore and rebuild the Demised Premises and/or access thereto as nearly as may be reasonably practical to its condition and character immediately prior to such damage or destruction, with reasonable diligence after notice to it of the damage or destruction.
22.02 If the Demised Premises and/or access thereto shall be partially or totally damaged or destroyed by fire or other casualty not attributable to the fault, negligence or misuse of the Demised Premises by the Tenant, its agents or employees under the provisions of this Lease, the rents payable hereunder shall be abated to the extent thatthat the Demised Premises shall be rendered untenantable from the date of such damage or destruction to the date the damage shall be substantially repaired, restored or rebuilt. Should Tenant reoccupy a portion of the Demised Premises during the period that the repair, restoration, or rebuilding is in progress and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy to the date the Demised Premises are made tenantable.
22.03 In case the Building shall be so damaged by such fire or other casualty that substantial renovation, reconstruction or demolition of the Building shall, in Landlord's reasonable opinion sole opinion, be required (whether or not the damage cannot be restored Demised Premises shall have been damaged by such fire or other casualty), then Landlord may, at its option, terminate this Lease and the term and estate hereby granted, by notifying Tenant in writing of such termination, within one hundred eighty (180) 60 days after the date of such damage. If at any time prior to Landlord giving Tenant the aforesaid notice of termination or commencing the repair and restoration pursuant to Section 22.01, the holder of a superior mortgage or any person claiming under or through the holder of such superior mortgage takes possession of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damageBuilding through foreclosure or otherwise, such holder or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant person shall have a further period of 60 days from the right date of so taking possession to terminate this Lease effective by appropriate written notice to Tenant. In the event that such a notice of termination shall be given pursuant to either of the two immediately preceding sentences, this Lease and the term and estate hereby granted shall expire as of the date of such destruction or damage by written notice termination with the same effect as if that were the date hereinbefore set for the expiration of the term of this Lease, and the fixed and additional rent due and to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent become due hereunder shall be accounted for as between Landlord and Tenant apportioned as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the such date of the damage of the estimated time needed if not earlier abated pursuant to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)Section 22.
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 2 contracts
Samples: Lease (Clarus Corp), Lease (Total Tel Usa Communications Inc)
Destruction or Damage. (a) 20.01 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed or rendered inaccessible by stormfire or other cause or any other factors such as, firefor example, earthquakedamage to other parts of the Building or the areas surrounding the Building, floods, acts of terrorism, etc., then, whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or other casualtyits employees, agents or damaged visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant’s Property nor to restore any of Tenant’s initial installations in and to the Demised Premises (except and to the extent thatthat they become part of the realty and become Landlord’s property).
20.02 If the Building or the Demised Premises shall be partially damaged or partially destroyed or rendered inaccessible by fire or other cause or any other factors as set forth above, in Landlord's reasonable opinion the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered inaccessible or untenantable and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore and rebuild the Building and the Demised Premises; provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
20.03 If the Building shall be totally damaged or destroyed by fire or other cause, or if the Building shall be damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than forty (40%) percent of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this Lease provided that Landlord terminates all other leases in the Building at the same time, by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date Landlord provides casualty. Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as has a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as on notice to Landlord at any time after any casualty occurs in the last year of the Term, affecting more than forty (40%) percent of the Demised Premises or more than forty (40%) percent of any other premises then leased to Tenant in the Building. Such notice from Landlord or Tenant must be sent no later than 180 days after such damage or casualty. In case of any damage or destruction mentioned in Section 20.01, 20.02 or 20.03 or in the event of any similar damage or destruction which prevents Tenant from utilizing more than thirty (30%) percent of the useable floor area of any other space rented by Tenant in the Building (unless the damage or destruction was caused by the actions of Tenant, its agents, contractors, employees and whether intentional, negligent or accidental), Tenant may terminate this Lease, by notice to Landlord, if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises and any such other space rented by Tenant in the Building within 270 days from the date of such destruction damage or damage destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord may have been delayed in doing so by written notice to the adjustment of insurance, labor trouble, governmental controls, act of God, or any other on cause beyond Landlord’s reasonable control.
20.04 No damages, compensation or before thirty (30) days following Landlord's notice described in the next sentence and Rent claim shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date business or annoyance arising from any repair or restoration of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises which is not usableor of the Building pursuant to this Article. In all events, and Landlord shall restore use commercially reasonable efforts to minimize interference with Tenant’s business and to remedy the Premises factors giving rise to substantially the same condition delay or interruption as before the damage occurred expeditiously as soon as practicable, whereupon full Rent shall recommencepossible.
Appears in 2 contracts
Samples: Lease Agreement (Blue Apron Holdings, Inc.), Lease Agreement (Blue Apron Holdings, Inc.)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, fire earthquake, or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance, or if the Landlord's lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of for such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord's lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence: However, Landlord shall not be responsible for the restoration of any tenant improvements which were not originally completed by the Landlord.
Appears in 2 contracts
Samples: Lease Agreement (KnowBe4, Inc.), Lease Agreement (KnowBe4, Inc.)
Destruction or Damage. If the Building and/or the Premises are damaged or destroyed by fire or other casualty, and this Lease is not terminated as provided below, Landlord shall repair the damage and restore and rebuild the Building and/or the Premises (as the case may be), at its expense, within one hundred eighty (180) days following the date the damage or destruction occurred; provided, however, that -------- ------- Landlord shall not be required to repair or replace any of Tenant's Property or any alteration or Leasehold Improvements made by Tenant.
(a) If the Premises are partially damaged or totally destroyed by fire or other casualty, and such damage or destruction was not caused by the negligence of Tenant or Tenant's Representatives, the Rent shall equitably xxxxx, to the extent that the Premises are rendered untenantable in the reasonable judgment of Landlord, for the period from the date of such damage or destruction to the date such damage or destruction is repaired or restored. If such damage or destruction was caused by the negligence of Tenant or Tenant's Representatives, Rent shall xxxxx notwithstanding the foregoing to the extent covered by Landlord's rental loss insurance.
(b) If the Building or the Premises are totally substantially damage or destroyed by storm, fire, earthquake, fire or other casualty, or damaged Landlord may terminate this Lease by notice to Tenant within thirty (30) days after the date of the occurrence of such casualty, in which case this Lease shall terminate upon the 30th day after such notice, by which date Tenant shall vacate and surrender the Premises to Landlord, and the Rent shall be prorated to the extent thatdate of the casualty. The Premises or Building (whether or not the Premises are damaged) shall be deemed substantially damaged or destroyed if (i) Landlord is required to expend for repairs more than 20% of the replacement value of the Building immediately prior to the casualty, as determined by Landlord, or (ii) restoration is not possible in accordance with Landlord's reasonable opinion the damage cannot be restored estimate within one hundred eighty (180) days of following the date Landlord provides the damage or destruction occurred.
(c) Tenant written notice of may not terminate this Lease nor repair the Premises at Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and expense as a result Landlord elects not to restore such damageof any casualty, Landlord and no damages, compensation or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent claim shall be accounted payable by Landlord to Tenant or anyone claiming by, through or under Tenant for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to any inconvenience, loss of business or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days annoyance arising from any repair or restoration of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and or of the Building pursuant to this Section 17. Landlord shall restore attempt to make such repair or restoration promptly and in such manner as will not unreasonably interfere with Tenant's use and occupancy of the Premises Premises, but Landlord shall not be required to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencedo such repair or restoration work except during Normal Business Hours.
Appears in 2 contracts
Samples: Sublease Agreement (Accord Networks LTD), Sublease Agreement (Accord Networks LTD)
Destruction or Damage. (a) If the Building or the Premises are totally damaged or destroyed by storm, fire, earthquake, fire or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) 60 days of the date thereafter Landlord provides shall give Tenant written notice of Landlord's reasonable an estimate of the expected time necessary to restore the damage, or and if this Lease is not terminated as provided in clause (c) below, Landlord shall repair the damage is and restore and rebuild the Building and the Premises (including any Leasehold Improvements not covered made by standard "all risks" property insurance and Tenant), as a result Landlord elects not to restore such damagethe case may be, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written at its expense, with reasonable dispatch after notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the estimated time needed to restore, and whether the loss is covered Tenant’s Property or any alteration or Leasehold Improvements made by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)Tenant.
(b) If the Premises are partially damaged or destroyed by any fire or other casualty, the Rent shall equitably xxxxx, to the extent that the Premises are rendered untenantable, for the period from the date of such casualty damage or casualties but neither destruction to the date the damage is repaired or restored.
(c) If the Building or the Premises are substantially damaged or destroyed by fire or other casualty, either party is entitled to or neither party elects to may terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing by notice to the other within forty-five (45) 90 days of after the date of the damage that casualty, and this Lease shall terminate upon the damage will 30th day after such notice by which date Tenant shall vacate and surrender the Premises to Landlord. The Rent shall be restored prorated to the date of the casualty. The Premises and the Building (and will include whether or not the Premises are damaged) shall be deemed substantially damaged or destroyed if restoration is not possible in accordance with Landlord's good faith ’s reasonable estimate of within 180 days following the date the damage occurred. Landlord may terminate this Lease by notice to Tenant within 90 days after the date of the casualty if Landlord is required to expend for repairs more than 20% of the replacement value thereof immediately prior to the casualty.
(d) Tenant may not terminate this Lease or repair the Premises at Landlord’s expense as a result of a casualty, and no damages, compensation or claim shall be payable by Landlord for any casualty or any inconvenience, loss of business or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usable, and or of the Building pursuant to this Section. Landlord shall restore use its best efforts to make such repair or restoration promptly and in such manner as will not unreasonably interfere with Tenant’s use and occupancy of the Premises Premises, but Landlord shall not be required to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencedo such repair or restoration work except during normal business hours.
Appears in 2 contracts
Samples: Lease (Plures Technologies, Inc./De), Lease (CMSF Corp)
Destruction or Damage. 19.1 If all or any portion of the Premises becomes untenantable by fire or other casualty to the Premises, the Building required for use of the Building (a) collectively a “Casualty”), Landlord, with reasonable promptness, shall cause a general contractor selected by Landlord to provide Landlord and Tenant with a reasonable written estimate of the amount of time required using standard working methods to substantially complete the repair and restoration of the Premises and any Building Common Areas necessary to provide parking for and/or access to the Premises (“Completion Estimate”). If the Building or Completion Estimate indicates that the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged any Building Common Areas necessary to provide parking for and/or access to the extent that, in Landlord's reasonable opinion the damage Premises cannot be restored within one hundred eighty (180) 270 days from the date the repair is started, then either party shall have the right to terminate this Lease upon written notice to the other within 10 days after receipt of the Completion Estimate. In addition, Landlord, by notice to Tenant within 90 days after the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary Casualty, shall have the right to restore the damage, or terminate this Lease if the Premises have been “Materially Damaged” and there is less than 1 year of the Term remaining on the date of the Casualty. As used in this Section 19.1, the term “Materially Damaged” means any damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damagethe Premises that would cost more than $2,000,000 (in 2017 Dollars) to restore. Further, Landlord notwithstanding anything to the contrary contained in this Lease, in the event of damage or destruction to the Premises or the Building, Tenant shall have the right to terminate this Lease effective as under the following conditions: (a) the damage or destruction is caused by a peril not required to be insured against hereunder; or (b) the damage or destruction occurs during the last year of the date of Term and the cost to either party to repair such destruction or damage by written notice to the other on or before thirty would cost more than $2,000,000 (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore2017 dollars).
(b) 19.2 If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effectis not terminated, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (promptly and will include diligently, subject to reasonable delays for insurance adjustment or other matters beyond Landlord's good faith estimate of the date the restoration will be complete)’s reasonable control, in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises and Building Common Areas, excluding the Tenant Improvements. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by law.
19.3 Following Landlord’s restoration work, Tenant shall, at its sole expense, restore any Tenant Improvements performed by or for the benefit of Tenant; and Landlord shall assign any right it may have to insurance proceeds for the Tenant Improvements to Tenant. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business resulting in any way from the Casualty or the repair thereof. During any period of time that all or a material portion of the Premises or Common Areas is rendered untenantable as before a result of a Casualty, the damage occurred as soon as practicable, whereupon full Rent shall recommencexxxxx for the portion of the Premises or Common Areas that is untenantable and not used by Tenant for the operation of its business.
Appears in 2 contracts
Samples: Office Building Lease, Office Building Lease (Avalara Inc)
Destruction or Damage. (a) If 10.1 In the Building or event the Demised Premises are totally destroyed damaged by storm, fire, earthquake, act of God, the elements or other casualtycasualty in each case insured against by Landlord’s fire and extended coverage insurance policy covering the Building and, or damaged to the extent that, in if Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore cost of making such repairs does not exceed the damage, or if the damage is not covered proceeds of such insurance by standard "all risks" property insurance and as a result Landlord elects not to restore such damagemore than One Hundred Thousand Dollars ($100,000), Landlord or Tenant shall have forthwith repair the right to terminate this Lease effective as of the date same if such repairs can, in Landlord’s opinion, be completed within ninety (90) days after commencement of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that daterepairs. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this This Lease shall remain in full force and effect except that an abatement of Basic Rental shall be allowed Tenant for such part of the Demised Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable to the extent Landlord is reimbursed therefor by loss of rental income or other insurance. If such repairs cannot be made within ninety (90) days, or if such damage or destruction is not insured against by Landlord’s fire and extended coverage insurance policy covering the Building or if Landlord’s reasonable estimate of the cost of making such repairs exceeds the proceeds of such insurance by more than One Hundred Thousand Dollars ($100,000), Landlord may elect, upon notice to Tenant within thirty (30) days after the date of such fire or other casualty, to repair or restore such damage, in which event this Lease shall continue in full force and effect, but the Basic Rental shall be partially abated as provided in this Section 11.1. If Landlord elects not to make such repairs, this Lease shall notify Tenant in writing within forty-five (45) days terminate as of the date of the damage that the damage will be restored (and will include such election by Landlord's good faith estimate .
10.2 A total destruction of the date Building shall automatically terminate this Lease.
10.3 If the restoration will Demised Premises are to be complete)repaired under this Article 11, in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore repair at its cost any injury or damage to the Building itself and building standard tenant improvements in the Demised Premises to substantially be constructed or installed by Landlord as set forth in Exhibit “B.” Tenant shall perform and pay the same condition cost of repairing any other improvement in the Demised Premises and shall be responsible for carrying such casualty insurance as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceit deems appropriate with respect to such other tenant improvements.
Appears in 2 contracts
Samples: Gross Lease (ENDRA Life Sciences Inc.), Gross Lease (Endra Inc.)
Destruction or Damage. (a) 22.01 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, firethen, earthquakewhether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant’s Property nor to restore any Tenant’s Work.
22.02 If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause, the rents payable hereunder shall be abated (except if same was a result of the action or damaged inaction of Tenant, its employees or invitees, and except to the extent that, in Landlord's reasonable opinion of Tenant’s insurance coverage which is required by the terms of this lease) to the extent that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall axxxx as of the date of the damage or destruction and until Landlord shall repair, restore and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date the same are made completely Tenantable, rents allocable to such portion shall be payable by Tenant from the date or such occupancy.
22.03 If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than 20% of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date casualty. In case of any damage or destruction mentioned in this Article Tenant may terminate this lease, by notice to Landlord, if Landlord provides Tenant written notice of Landlord's reasonable estimate has not completed the making of the time necessary to restore required repairs and restored and rebuilt the damage, or if Building and the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of Demised Premises within twelve (12) months from the date of such destruction damage or damage destruction, or within such period after such date (not exceeding six months) as shall equal the aggregate period Landlord may have been delayed in doing so by written notice to the adjustment of insurance, labor trouble, governmental controls, act of God, or any other on cause beyond Landlord’s reasonable control.
22.04 No damages, compensation or before thirty (30) days following Landlord's notice described in the next sentence and Rent claim shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date business or annoyance arising from any repair or restoration of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as to not unreasonably interfere with Tenant’s use and occupancy.
22.05 Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors, then, without prejudice to any other remedies with may be available against Tenant, there shall be no abatement of Tenant’s rents, but the total amount of such rents not abated (which is would otherwise have been abated) shall not usableexceed the amount of the uncollected insurance proceeds.
22.06 Landlord will not carry insurance of any kind on Tenant’s Property or Tenant’s Work, and, except as provided by law or by reason of its fault or its breach of any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same.
22.07 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and Landlord any provision, law or statute of the State of New Jersey, providing for such a contingency in the absence of an express agreement, now or hereafter in force, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application in such case.
Appears in 2 contracts
Samples: Lease Agreement (Angion Biomedica Corp.), Lease (Angion Biomedica Corp.)
Destruction or Damage. (a) If 11.1 In the event the Demised Premises or any portion of the Building or the Premises Development necessary for Tenant’s occupancy are totally destroyed damaged by storm, fire, earthquake, act of God, the elements or other casualty in each case insured against by Landlord’s fire and extended coverage insurance policy covering the Building and the Development and, if Landlord’s reasonable estimate of the cost of making such repairs does not exceed the proceeds of such insurance by more than One Hundred Thousand Dollars ($100,000), Landlord shall forthwith repair the same if such repairs can, in Landlord’s opinion, be completed within one hundred twenty (120) days after commencement of such repairs. This Lease shall remain in full force and effect except all Basic rent and other sums due hereunder from Tenant, including Basic Rental, shall be abated for such part of the Demised Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable to the extent Landlord is reimbursed therefor by loss of rental income or other insurance. If such repairs cannot, in Landlord’s opinion, be made within one hundred twenty (120) days, or if such damage or destruction is not insured against by Landlord’s fire and extended coverage insurance policy covering the Building or the Development or if Landlord’s reasonable estimate of the cost of making such repairs exceeds the proceeds of such insurance by more than Two Hundred Thousand Dollars ($200,000), Landlord may elect, upon notice to Tenant within thirty (30) days after the date of such fire or other casualty, to repair or damaged to the extent thatrestore such damage, in which event this Lease shall continue in full force and effect, but all rent and other sums due hereunder from Tenant, including Basic Rental shall be partially abated as provided in this Section 11.1. If Landlord elects not to make such repairs, this Lease shall terminate as of the date of such election by Landlord's reasonable opinion . If the estimated time to repair such damage cannot be restored within or destruction exceeds one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or then Tenant shall have the right to terminate this Lease effective be providing Landlord at least thirty (30) days prior written notice of such election provided such damage or destruction was not caused by Tenant or its agents, employees, or contractors and provided Tenant is not in Default of this Lease beyond applicable notice, grace or cure periods at the time of the giving of such notice of termination.
11.2 A total destruction of the Building, as determined by Landlord’s architect shall automatically terminate this Lease as of the date of such destruction the fire, earthquake, act of God, or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)casualty.
(b) 11.3 If the Demised Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate be repaired under this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effectSection 11, Landlord shall notify repair at its cost any injury or damage to the Building itself and building standard tenant improvements in the Demised Premises to be constructed or installed by Landlord as set forth in Exhibit ”H.” Tenant shall perform and pay the cost of repairing any other improvement in writing within forty-five (45) days the Demised Premises and shall be responsible for carrying such casualty insurance as it deems appropriate with respect to such other tenant improvements and contents.
11.4 Landlord’s obligations to restore the Demised Premises, the Building, and the Development as set forth in this Section 11 shall be subject to the consent of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete)mortgagee, in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceif any.
Appears in 2 contracts
Samples: Lease (Covisint Corp), Lease (Covisint Corp)
Destruction or Damage. (a) 21.1 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property.
21.2 If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause not attributable to the fault or negligence of Tenant, its agents, or damaged employees, the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall abatx xx of the date of the damage or destruction and usual Landlord shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.3 If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate the Lease by notice to Landlord, if Landlord provides Tenant written notice of Landlord's reasonable estimate has not completed the making of the time necessary to restore required repairs and restored and rebuilt the damage, or if Building and the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of Demised Premises within eight (8) months from the date of such destruction damage or damage by written notice to the other on destruction, or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.period after such
Appears in 2 contracts
Samples: Lease Agreement (Paradyne Corp), Lease Agreement (Globespan Semiconductor Inc)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed is partially damaged by storm, fire, earthquake, or other casualtyAct of God, or damaged Landlord shall repair the same at Landlord's expense, subject to the extent thatprovisions of this Article and provided such repairs can, in Landlord's reasonable opinion the damage cannot opinion, be restored made within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore 60 days. During such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) aboverepairs, this Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's employees, an abatement of Rents shall be allowed Tenant for such portion of Premises and period of time as the Premises was unusable by Tenant.
(b) If in Landlord's reasonable opinion the partially damaged Premises can be repaired, but not within 60 days, the Landlord shall notify may elect, upon written notice to Tenant in writing within forty-five ten (4510) days of such damages, to repair such damages over a longer time period and continue this Lease in full force and effect, but with Rents partially abated as provided in Article 11(a). In the date event such repairs cannot be made within sixty (60) days, Tenant shall have the option to terminate this Lease, without any liability to Landlord, provided that notice is given to Landlord within ten (10) days of the damage that the damage will be restored (and will include receipt of Landlord's good faith estimate of notice stated in this paragraph.
(c) If the date the restoration will partially damaged Premises is to be complete)repaired under this Article, in which case Rent Landlord shall xxxxx as repair such damages to any portion of the Premises which is not usableitself, and to the Tenant Improvements supplied by Landlord herein. Tenant shall restore be responsible for its equipment, furniture and fixtures, and Tenant Improvements made by Tenant located on the Premises.
(d) If in Landlord's reasonable opinion, the Premises to is totally or substantially destroyed by fire or other casualty, this Lease shall automatically terminate, unless otherwise mutually agreed in writing by the same condition as before parties hereto.
(e) If the damage occurred as soon as practicablepartially or totalling damaged Premises was caused by a negligent act or omission of Tenant, whereupon full Rent Tenant shall recommencepay Landlord the difference between the actual cost of rebuilding and any insurance proceeds received by Landlord.
Appears in 2 contracts
Samples: Lease (Advanta Corp), Commercial Lease (Advanta Corp)
Destruction or Damage. (a) If In the Building event the Market Square Tower is damaged or the Premises are totally destroyed by storm, fire, earthquake, fire or other casualty, Landlord shall have the option of determining whether the same shall be repaired or damaged rebuilt and shall notify Tenant in writing of its election within thirty days after the date on which the damage or destruction shall occur. If Landlord shall fail to notify Tenant of its decision within the specified time Landlord shall be conclusively deemed to have elected not to repair or reconstruct. If Landlord shall elect not to repair or reconstruct, this Lease shall be terminated and of no further force or effect from and after the date of the damage or destruction, or from the date on which Tenant is dispossessed, or surrenders possession, whichever is later, but all monetary obligations of the parties to each other existing at the date of termination shall survive said termination and be promptly paid to the others. If Landlord shall elect to repair or reconstruct, this Lease shall continue in full force and effect unless the extent thatof the damage to the leased premises is sufficient to deprive Tenant of its use and enjoyment of said premises for ninety days or more, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or which event Tenant shall have the right to terminate this Lease by so notifying Landlord of such fact within fourteen days after receiving Landlord's statement of its election to repair. If Tenant shall elect to so terminate, the cancellation shall be effective as of the date and under the terms specified in the preceding paragraph. If Tenant's possession and/or use of such destruction the demised premises shall be interrupted or substantially impaired due to damage caused by written notice fire or other casualty, there shall be an abatement of rentals for the period in which, and to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and extent which, Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed is unable to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)occupy said premises.
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 2 contracts
Samples: Lease Agreement (Quaker Fabric Corp /De/), Lease Agreement (Quaker Fabric Corp /De/)
Destruction or Damage. (a) If the Building or the Premises are totally damaged or destroyed by storm, fire, earthquake, fire or other casualty, and this Lease is not terminated as provided below, Landlord shall repair the damage and restore or damaged rebuild the Building and the Premises (as the case may be), at its expense, with reasonable dispatch after notice to it of the damage or destruction, to the extent thatthat insurance proceeds are available for such repair, in Landlord's reasonable opinion the damage canrestoration or rebuilding; provided, however, that Landlord shall not be restored within one hundred eighty (180) days required to repair or replace any of the date Landlord provides Tenant written notice of LandlordTenant's reasonable estimate of the time necessary to restore the damageProperty, or if the damage is not covered any alteration of Leasehold Improvements made by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord Tenant or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered nonstandard building improvements made by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged or destroyed by any fire or other casualty, the Rent shall equitably abate, to the extent that the Premises are rendered untenantable, xxx the period from the date of such damage or destruction to the date the damage is repaired or restored.
(c) If the Building or the Premises is substantially damaged or destroyed by fire or other casualty, Landlord may terminate this Lease by notice to Tenant within ninety (90) days after the date of the casualty, and this Lease shall terminate upon the thirtieth (30th) day after such notice, by which date Tenant shall vacate and surrender the Premises to Landlord. The Rent shall be prorated to the date of the casualty. The Premises or Building (whether or not the Premises are damaged) shall be deemed substantially damaged or destroyed if (i) the amount of the damage is more than twenty percent (20%) of the replacement value of the Building immediately prior to the casualty or casualties but neither party (ii) restoration is entitled not possible in accordance with Landlord's reasonable estimate within one hundred eighty (180) days following the date the damage occurred. If, by reason of such casualty, the Premises are rendered untenantable in some material portion, and the amount of time required to or neither party elects repair the damage is reasonably determined by Landlord to be in excess of one hundred eighty (180) days from the date of such casualty, then Tenant shall have the right to terminate this Lease as provided in subparagraph by giving Landlord written notice of termination within thirty (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (4530) days of after the date Landlord delivers Tenant notice that the amount of time required to repair the damage that the damage will has been determined by Landlord to be restored in excess of one hundred eighty (and will include Landlord's good faith estimate 180) days.
(d) No damages, compensation or claim shall be payable by Landlord for any casualty, or any inconvenience, loss of the date the business or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usable, and or of the Building pursuant to this Section. Landlord shall restore use its best efforts to make such repair or restoration promptly and in such manner as will not unreasonably interfere with Tenant's use and occupancy of the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencePremises.
Appears in 1 contract
Samples: Office Lease Agreement (Talk Com)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed or damaged by storm, fire, earthquake, or other casualty, or damaged to Landlord shall notify Tenant in writing, within ninety (90) days following such casualty, whether Landlord reasonably deems that restoration can be accomplished within one (1) year after the extent that, in Landlord's reasonable opinion the damage casualty occurs. If Landlord notifies Tenant that such restoration cannot be restored accomplished within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damagesuch period, or if substantial damage occurs during the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damagelast year of the Term, Landlord or Tenant shall have the right to terminate this Lease effective shall terminate as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. If Landlord shall provide Tenant with notice deems that restoration can be accomplished within forty-five (45) days following such period and the date casualty does not occur during the last year of the damage of Term, Rent shall abate in such proportion as the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If usx xx the Premises are damaged by any such casualty or casualties but neither party is entitled has been destroyed, Tenant shall pay to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of all insurance proceeds covering the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usablePremises, and Landlord shall shall, to the extent of available insurance proceeds, restore the Property And Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence. Notwithstanding anything thereinabove to the contrary, if any such casualty causes material damage and is not covered by Landlord's insurance, or if Landlord's mortgagee does not make the insurance proceeds available to Landlord for restoration, Landlord shall have the right to terminate this Lease at the time Landlord provides Tenant the notice required above.
Appears in 1 contract
Samples: Lease Agreement (Med E America Corp)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, fire earthquake, or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance, or if the Landlord's lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of for such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord's lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx axxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence: However, Landlord shall not be responsible for the restoration of any tenant improvements which were not originally completed by the Landlord.
Appears in 1 contract
Samples: Lease Agreement (American Recreational Enterprises Inc)
Destruction or Damage. (a) Tenant shall promptly notify Landlord of any material damage to the Premises resulting from fire or any other casualty. If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss—Special Form property insurance, or if the Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord’s lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises shall be partially or totally damaged or destroyed by fire or other cause, then whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other cause not attributable to the fault or negligence of Tenant, its agents, or employees, the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage shall be repaired or restored; provided, however, if the damage shall be attributable to the fault or negligence of Tenant, its agents or employees, then rent shall continue but shall be reduced by any amounts received by Landlord pursuant to Landlord's coverage for business interruption and/or rent insurance attributable to the Demised Premises. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not the Demised Premises are totally destroyed damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty then in either such case Landlord may terminate this Lease by stormgiving Tenant notice to such effect within ninety (90) days after the date of the casualty. In case of any damage or destruction mentioned in this Article, fireTenant may terminate the Lease by notice to Landlord, earthquakeif (i) said damage occurs during the last year of the term or (ii) Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within six (6) months from the date of such damage or destruction, or within such period after such date (not exceeding ten (10) months) as shall equal the aggregate period Landlord may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's reasonable control.
21.04. No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of business, or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy during such time that Tenant is able to use the Demised Premises during Landlord's restoration.
21.05. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of negligence or willful misconduct on the part of Tenant or any of its employees, agents or contractors in connection with the processing of any claim, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant's rents.
21.06. Landlord will not carry insurance of any kind on Tenant's Property, and, except as provided by law or by reason of its fault or its breach of any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same; to the extent that Tenant shall maintain insurance on Tenant's Property, Landlord shall not be obligated to repair any damage thereto or replace the same.
21.07. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days and any law of the date State of New Jersey providing for such a contingency in the absence of an express agreement, and any other law of like import, now of hereafter in force, shall have no application in such case.
21.08. If the Demised Premises and/or access thereto become partially or totally damaged or destroyed by any casualty not insured against, then Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of upon giving the date of such destruction or damage by written notice to the other on or before Tenant thirty (30) days following Landlord's notice described in and upon the next sentence and Rent shall be accounted for as between Landlord and Tenant as expiration of that date. Landlord shall provide Tenant with said thirty (30) day notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, period this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of terminate as if such termination date were the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceExpiration Date.
Appears in 1 contract
Destruction or Damage. (a) If the Building Premises or the Premises are totally destroyed portion of the Building necessary for Tenant's occupancy is damaged by storm, fire, earthquake, act of God, the elements or other casualty, Landlord shall, subject to the provisions of this Article, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion, be completed within ninety (90) days. If Landlord determines that repairs can be completed within ninety (90) days, this Lease shall remain in full force and effect, except that if such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant's use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord under Section 19(d).
(b) If in Landlord's reasonable opinion, such repairs to the Premises or portion of the Building necessary for Tenant's occupancy cannot be completed within ninety (90) days, Landlord may elect, upon notice to Tenant given within thirty (30) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19(a). If Landlord does not so elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
(c) If any other portion of the Building or Project is totally destroyed or damaged to the extent that, that in Landlord's reasonable opinion the damage repair thereof cannot be restored completed within ninety (90) days, Landlord may elect upon notice to Tenant given within thirty (30) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19(a). If Landlord does not elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
(d) If the Premises are to be repaired under this Article, Landlord shall repair at its cost any injury or damage to the Building and Building Standard Work in the Premises. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold improvements and Tenant's Property. Landlord shall not be liable for any loss of business, inconvenience or annoyance arising from any repair or restoration of any portion of the Premises, Building or Project as a result of any damage from fire or other casualty.
(e) If Landlord is not obligated to and elects not to repair following a casualty, or if the casualty materially affects Tenant's use of or access to the Premises and the repair which Landlord elects or is obligated to perform is reasonably expected to take more than one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damagecomplete, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage casualty by delivering written notice to the other on or before thirty Landlord.
(30f) days following Landlord's notice described in the next sentence and Rent This Lease shall be accounted for as between considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any in such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete)circumstances, in which case Rent the absence of express agreement, shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application.
Appears in 1 contract
Samples: Office Building Lease (Scoop Inc/Ca)
Destruction or Damage. (a) A. If any portion of the Building Leased Premises or the Premises are totally destroyed common areas necessary for Tenant's occupancy is damaged by storm, fire, earthquake, or other casualty, or damaged to Landlord shall, promptly repair the extent thatdamage, if such repairs can, in Landlord's reasonable opinion the damage cannot opinion, be restored completed within one hundred eighty ninety (18090) days of the date days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty determines that repairs can be completed within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect. If such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, Landlord employees, contractors, licensees or invitees, the rent shall notify be abated to the extent Tenant's use of the Leased Premises is impaired, based upon the reasonable relative value to Tenant in writing within forty-five (45) days that the damaged space bears to the value of Tenant's total Leased Premises, commencing with the date of the damage that the damage will be restored (and will include Landlord's good faith estimate continuing until substantial completion of the repairs required of Landlord.
B. If, in Xxxxxxxx's opinion, such repairs cannot be completed within ninety (90) days, Landlord may elect, upon notice to Tenant given within thirty (30) days after the date the restoration will be complete)of such fire or other casualty, to repair such damage, in which case event this Lease shall continue in full force and effect, but the Base Rent shall xxxxx as be partially abated to the extent Tenant's use of the Leased Premises is impaired, based upon the reasonable relative value to Tenant that the damaged space bears to the value of Tenant's total Leased Premises, commencing with the date of damage and continuing until substantial completion of the repairs required of Landlord.
C. Tenant shall be responsible at its sole cost for the restoration and replacement of any other Leasehold Improvements and Tenant's property. Landlord shall not be liable for any loss of business, loss of Xxxxxx’s personal property, inconvenience or annoyance arising from any fire or other casualty or any restoration of any portion of the Premises which Property arising from fire or other casualty.
D. If such damage is the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees, contractors, licensees or invitees, Rent shall not usablebe abated, and Tenant shall pay Landlord shall restore for repairs and for all costs associated with such damages, including but not limited to the Premises to substantially loss of all rental income from all tenants of the same condition Property as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceresult of such damage.
Appears in 1 contract
Samples: Commercial Lease Agreement
Destruction or Damage. (a) If the Building or the Premises are totally damaged or destroyed by storm, fire, earthquake, fire or other casualty, and this Lease is not terminated as provided below, Landlord shall repair the damage and restore or damaged rebuild the Building and the Premises (as the case may be), at its expense, with reasonable dispatch after notice to it of the damage or destruction, to the extent thatthat insurance proceeds are available for such repair, in Landlord's reasonable opinion the damage canrestoration or rebuilding; provided, however, that Landlord shall not be restored within one hundred eighty (180) days required to repair or replace any of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damageTenant’s Property, or if the damage is not covered any alteration of Leasehold Improvements made by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord Tenant or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered nonstandard building improvements made by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged or destroyed by any fire or other casualty, the Rent shall equitably xxxxx, to the extent that the Premises are rendered untenantable, for the period from the date of such damage or destruction to the date the damage is repaired or restored.
(c) If the Building or the Premises is substantially damaged or destroyed by fire or other casualty, Landlord may terminate this Lease by notice to Tenant within ninety (90) days after the date of the casualty, and this Lease shall terminate upon the thirtieth (30th) day after such notice, by which date Tenant shall vacate and surrender the Premises to Landlord. The Rent shall be prorated to the date of the casualty. The Premises or Building (whether or not the Premises are damaged) shall be deemed substantially damaged or destroyed if (i) the amount of the damage is more than twenty percent (20%) of the replacement value of the Building immediately prior to the casualty or casualties but neither party (ii) restoration is entitled not possible in accordance with Landlord’s reasonable estimate within one hundred eighty (180) days following the date the damage occurred. If, by reason of such casualty, the Premises are rendered untenantable in some material portion, and the amount of time required to or neither party elects repair the damage is reasonably determined by Landlord to be in excess of one hundred eighty (180) days from the date of such casualty, then Tenant shall have the right to terminate this Lease as provided in subparagraph by giving Landlord written notice of termination within thirty (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (4530) days of after the date Landlord delivers Tenant notice that the amount of time required to repair the damage that the damage will has been determined by Landlord to be restored in excess of one hundred eighty (and will include Landlord's good faith estimate 180) days.
(d) No damages, compensation or claim shall be payable by Landlord for any casualty, or any inconvenience, loss of the date the business or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usable, and or of the Building pursuant to this Section. Landlord shall restore use its best efforts to make such repair or restoration promptly and in such manner as will not unreasonably interfere with Xxxxxx’s use and occupancy of the Premises to substantially the same condition as before the damage occurred as soon as practicablePremises. BRWHP Properties 0000 Xxxxxxxx Xxxx, whereupon full Rent shall recommence.Xxxxxxxx, XX 13 of 32 01/01/09
Appears in 1 contract
Samples: Office Lease Agreement (Generation Income Properties, Inc.)
Destruction or Damage. (a) If the Building Demised Premises and/or access thereto shall be partially or the Premises are totally damaged or destroyed by storm, fire, earthquakeby casualties, by the elements or other casualtyActs of God, or damaged Landlord shall, subject to the extent thatits rights under Paragraph (c) hereof, in Landlord's reasonable opinion repair the damage cannot and restore and rebuild the Demised Premises and/or access thereto as nearly as may be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonably practical to its condition and character immediately prior to such damage or destruction, with reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written diligence after notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date it of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)or destruction.
(b) If the Demised Premises and/or access thereto shall be partially or totally damaged or destroyed by fire, by casualties, by the elements, or Acts of God, not attributable to the fault, negligence or misuse of the Demised Premises by the Tenant, its agents or employees under the provisions of this Lease, the rents and other charges payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable from the date of such damage until the Demised Premises shall be substantially restored and rendered tenantable for Tenant's business operations. Should Tenant reoccupy a portion of the Demised Premises during the period that the repair, restoration or rebuilding is in progress and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy to the date the Demised Premises are damaged made tenantable.
(c) In the case of substantial (i.e., 33% percent or more) or total damage or destruction of the rentable area of the Demised Premises or access thereto, Landlord shall, within Thirty (30) days of such damage or destruction, notify Tenant, in writing, as to whether or not such damage or destruction can reasonably be renovated or reconstructed within 135 days from the date of said written notice. If, in Landlord's or Tenant's reasonable judgment, the damage or destruction cannot be renovated or reconstructed within said 135 day period, then either Tenant or Landlord may, at its option, terminate this Lease and the term and estate hereby granted, by notifying the other party, in writing, of such termination within Twenty (20) days after the date of Landlord's notice, in which case Landlord shall immediately return any prepaid rent and Security Deposit.
(d) If Landlord's notice states that the damage can reasonably be renovated or reconstructed within 135 days from the date of said notice, then Landlord shall promptly proceed with all due diligence to restore and rebuild the Demised Premises; and this Lease shall continue in full force and effect and rent shall abate pursuant to Paragraph (b). In the event that the Demised Premixxx xre not fully repaired and restored within said 135-day period, and the Landlord has proceeded with all due diligence but has been delayed by adjustment of insurance, labor trouble, governmental controls, Acts of God, or any other cause beyond Landlord's control, then the time for Landlord to complete said reconstruction and repair shall be extended by such casualty or casualties additional time as equals the aggregate period the Landlord has been delayed; but neither if such delay shall exceed an additional thirty (30) days each party is entitled to or neither party elects shall have the option to terminate this Lease as provided by notifying the other part in subparagraph writing of such termination within Twenty (20) days after the date of such notice, in which case Landlord shall immediately return any prepaid rent and Security Deposit.
(e) If at any time prior to Landlord giving Tenant such notice of termination pursuant to Paragraph (c) above or commencing the repair and restoration pursuant to Paragraph (a), the holder of a superior mortgage or any person claiming under or through the holder of such superior mortgage takes possession of the Building through foreclosure or otherwise, such holder or person shall have a further period of Sixty (60) abovedays from the date of so taking possession to terminate this Lease by appropriate notice to Tenant. In the event that such a notice of termination shall be given pursuant to Paragraph (c), this Lease and Term and estate hereby granted shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days expire as of the date of such termination with the damage same effect as if that were the damage will be restored (and will include Landlord's good faith estimate date set forth as the expiration of the Term of this Lease and the fixed and additional rent due and to become due hereunder shall be apportioned as of such date if not earlier abated pursuant to Paragraph (b).
(f) During the period of repair and restoration will of the Demised Premises, Landlord shall use its best efforts to assist Tenant in securing alternate office space.
(g) No damages, compensation or claim shall be complete)payable by Landlord for inconvenience, in which case Rent shall xxxxx as to loss of business or annoyance arising from any repair or restoration of any portion of the Demised Premises which is not usable, and or of the Building pursuant to this Section unless due to Landlord's neglect. Landlord shall restore use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy.
(h) Landlord will not carry insurance of any kind on Tenant's property, and, except as provided by law or its breach of any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same.
(i) The provisions of this section shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire, by casualties, by the elements or Acts of God.
(j) Notwithstanding any of the foregoing provisions of this section, if Landlord or the holder of any superior mortgage shall be unable to substantially collect all of the same condition as insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises, or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant, or any of its employees, agents, or contractors, then, without prejudice to any other remedies which may be available against Tenant, the abatement of Tenant's rents provided for in this section shall not be effective to the extent of the uncollected insurance proceeds.
(k) Landlord and Tenant hereby waive all rights to recover against each other for any loss or damage arising from any cost covered by any casualty insurance required under this Lease, or otherwise actually carried by each of them. Landlord and Tenant will cause their respective insurers to issue appropriate waiver of subrogation right endorsements to all policies and insurance carried in connection with the Demised Premises or the contents of either of them. Landlord and Tenant hereby agree to look first to the proceeds of their respective insurance policies before the damage occurred as soon as practicable, whereupon full Rent shall recommenceproceeding against each other in connection with any claim relating to any matter covered by this Lease.
Appears in 1 contract
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises (including Landlord's Work and any Tenant's Finish Work that was performed by Landlord), at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause, or damaged the rents payable hereunder shall be abated to the extent thatthat the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage shall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, in the rents shall axxxx as of the date of the damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises (including Landlord's reasonable opinion Work and any Tenant's Finish Work that was performed by Landlord), provided, however, that should Tenant reoccupy a portion of the damage canDemised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause as to require a reasonably estimated expenditure of more than twenty five percent (25%) of the replacement cost of the Building then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within sixty (60) days after the date of the casualty. If the Building or the Demised Premises shall be partially or totally damaged or destroyed by fire or other cause and Landlord elects not be restored to exercise the aforementioned termination right (or if such right is not created), Landlord shall deliver to Tenant, within one hundred eighty sixty (18060) days of the date casualty, a written certification from M. Xxxxxxx Company, Inc. or other contractor of Landlord provides Tenant written notice of (a) the extent of damage to the Building, in reasonable detail, and (b) the time within which substantial restoration of the Demised Premises (including Landlord's reasonable estimate Work and any Tenant's Finish Work that was performed by Landlord) will occur (the "Estimated Completion Date"). If the Estimated Completion Date is more than twelve (12) months from the date of the time necessary casualty to restore the damageDemised Premises, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damageaforesaid, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before Landlord within thirty (30) days following Landlordof Tenant's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date receipt of the damage of contractor's written statement setting forth the estimated time needed to restoreEstimated Completion Date, otherwise this Lease will remain in full force and whether the loss is covered by Landlord's insurance coverage (and if not, whether effect unless Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party Tenant elects to terminate this Lease as provided elsewhere in subparagraph this Article. In any event, in case of any damage or destruction mentioned in this Article, and neither Landlord nor Tenant has exercised an aforementioned termination right, Tenant shall again have the right, but not the obligation, to terminate the Lease upon thirty (30) days notice to Landlord, if Landlord has not substantially completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises, as aforesaid, by the later of (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five the date which is twelve (4512) days of months after the date of such damage or destruction, or (b) the damage that Estimated Completion Date, which termination notice Landlord may vitiate if prior to the damage will expiration of such thirty (30) days Landlord substantially completes the repairs, restorations and/or rebuilding of the Building and the Demised Premises. Such period for repair, restoration and rebuilding shall be restored extended for such time (and will include not exceeding four (4) months) as shall equal the aggregate period Landlord may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's good faith estimate reasonable control. Any termination of the date the this Lease pursuant to this Section 21.04 shall be without further liability of Tenant to Landlord.
21.04. No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of business, or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Demised Premises which is not usable, and or of the Building pursuant to this Article. Landlord shall restore use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy during such time that Tenant is able to use the Demised Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceduring Landlord's restoration.
Appears in 1 contract
Samples: Lease Agreement (Globespan Inc/De)
Destruction or Damage. (a) If 13.1 In the event the Leased Premises or any portion of the Building or the Premises are totally destroyed necessary for Tenant's occupancy is damaged by storm, fire, earthquake, act of God, the elements or other casualty, or damaged to the extent that, casualty in each case insured against by Landlord's reasonable opinion fire and extended coverage insurance policies, covering the Building and, if such damage does not occur during the last twenty-four (24) months of the Term hereof, Landlord shall forthwith repair the same and this Lease shall remain in full force and effect except that an abatement of Basic Annual Rent and Increased Charges shall be allowed Tenant for such part of the Leased Premises as shall be rendered unusable Landlord shall advise Tenant of the length of time it will take to rebuild the Leased Premises within thirty (30) days after such casualty. If such repairs cannot reasonably be restored completed within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore after such damage, Landlord or Tenant shall have the right option to terminate this Lease effective as of the date of such destruction fire or damage other casualty, by giving written notice to the other on or before of such termination within thirty (30) days following after Tenant has received Landlord's notice described notice. Further, in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of event that date. Landlord shall provide Tenant with notice within forty-five fifty percent (4550%) days following the date or more of the damage Leased Premises are destroyed or rendered untenantable by fire or other casualty during the last twenty-four (24) months of the estimated time needed to restoreTerm of the Lease, and whether the loss is covered by Landlord's insurance coverage (and if noteither Landlord or Tenant may, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to at its option, terminate this Lease effective as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of such fire or other casualty by giving notice as hereinabove provided in this Section 13.1. If the damage that or destruction cannot be insured against,
13.2 If the damage will Leased Premises are to be restored (and will include Landlord's good faith estimate of the date the restoration will be complete)repaired under this Section, in which case Rent no event shall xxxxx Landlord be required to repair or replace Tenant's trade fixtures, equipment and personal property, such as to signs, wall coverings, carpeting and drapes, or any portion of improvements in the Leased Premises which is not usable, have been constructed by Tenant and Landlord Tenant shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencebe responsible for repairing same.
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Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, firethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, earthquakeor its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant’s Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other cause the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage shall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be damaged or destroyed by fire or other cause, then, within thirty (30) days after the occurrence of the fire or other casualty, or damaged Landlord shall notify Tenant of the date on which Landlord in good faith believes the repair and restoration of the Building will be complete (the “Estimated Restoration Date”). Notwithstanding anything to the extent thatcontrary expressed in this Article 21, if the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty, then in Landlord's reasonable opinion the damage cannot be restored either such case, Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following after the date of the casualty. In case of any damage of the estimated time needed to restoreor destruction mentioned in this Article, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to Tenant may terminate this Lease by notice to Landlord if the Estimated Restoration Date is later than one hundred eighty (180) days after the occurrence of the fire or other casualty. In addition, if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises prior to the Estimated Restoration Date, or within such period after such date (not exceeding three (3) months) as provided shall equal the aggregate period Landlord may have been delayed in subparagraph (a) abovedoing so by labor trouble, governmental controls, act of God, or any other unforeseeable cause beyond Landlord’s reasonable control, Tenant may terminate this Lease by notice to Landlord.
21.04. No damages, compensation, or claim shall remain in full force and effectbe payable by Landlord for inconvenience, Landlord shall notify Tenant in writing within forty-five (45) days loss of the date business, or annoyance arising from any repair or restoration of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises which or of the Building pursuant to this Article. Landlord shall use commercially reasonable efforts to perform such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant’s use and occupancy during such time that Tenant is able to use the Demised Premises during Landlord’s restoration.
21.05. Landlord will not usablecarry insurance of any kind on Tenant’s Property, and Landlord shall restore not be obligated to repair any damage thereto or replace the same.
21.06. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises to substantially by fire or other casualty, and any law of the same condition as before State of New Jersey providing for such a contingency in the damage occurred as soon as practicableabsence of an express agreement, whereupon full Rent and any other law of like import, now or hereafter in force, shall recommencehave no application in such case.
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Destruction or Damage. (a) If In the Building event of a fire or other casualty in the Premises are totally destroyed by stormPremises, Tenant shall immediately give notice thereof to Landlord. The following provisions shall apply to fire, earthquake, act of God, the elements or other casualtycasualty occurring in the Premises and/or the Building: (a) if the damage is to improvements to the Premises that Tenant is required to insure pursuant to Section 12.2 of the Lease, Tenant, at its cost, shall promptly repair such damage; (b) if: (i) Subsection 13(a) does not apply, (ii) the damage is to the Premises, and (iii) Landlord determines that the Premises can be made tenantable with all damage substantially repaired within two hundred seventy (270) days from the date of damage or damaged destruction, then Landlord shall be obligated to repair and restore the Premises and shall proceed diligently to do so; provided, however, that Landlord shall have no obligation to repair or restore the Premises except to the extent thatthat Landlord realizes insurance proceeds, if any, sufficient for such purposes and for all other restoration and repair purposes; (c) if a portion of the Building outside the boundaries of the Premises are damaged or destroyed (whether or not the Premises are also damaged or destroyed) and Landlord determines that the Premises and the Building can both be made tenantable with all damage substantially repaired within two hundred seventy (270) days from the date of damage or destruction, and provided that sufficient insurance proceeds are available to Landlord to complete all repair and restoration obligations, then Landlord shall be obligated to repair and restore the Building and Premises; (d) if the Premises or the Building is damaged and restoration is not required to be undertaken pursuant to Subsections 13(a), 13(b), or 13(c), Landlord shall notify Tenant within sixty (60) days after the date of such damage or destruction and either Tenant or Landlord may terminate this Lease within thirty (30) days after the date of such notice; (e) during any period when Tenant’s use of the Premises is significantly affected by damage or destruction, rent shall xxxxx proportionately, as reasonably determined by Landlord, until such time as the Premises are made tenantable, and no portion of the rent so abated shall be subject to subsequent recapture; and (f) the proceeds from any insurance paid by reason of damage to or destruction of the Building or any part thereof, insured by Landlord, shall belong to and be paid to Landlord subject to the rights of any beneficiary of any deed of trust that constitutes an encumbrance. If Landlord undertakes restoration pursuant to Subsection 13(d) or 13(e), the proceeds from any property insurance maintained by Tenant covering the Premises shall be paid to Landlord. Landlord shall apply such insurance proceeds to the repair and restoration of Tenant’s Alterations and improvements in Landlord's reasonable opinion the Premises. Except with respect to any repairs undertaken if Section 13(d) applies and the Lease has not been terminated, if Landlord fails to complete restoration within two hundred seventy (270) days after the date of such damage canor destruction, Tenant may terminate this Lease by written notice to Landlord given within ten (10) days after the expiration of such two hundred seventy (270) day period (but in no event after completion of restoration); provided that if after Landlord commences such restoration and thereafter determines that Landlord will not be restored complete such restoration within one two hundred eighty seventy (180270) days of the date of such damage or destruction, Landlord provides may deliver Tenant written a notice of Landlord's reasonable estimate ’s new proposed outside date of the time necessary to restore the damagecompletion of such restoration and if Tenant does not terminate this Lease within ten (10) days of such notice, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall not have the right to terminate this Lease effective as of unless Landlord fails to complete such restoration by the proposed outside date of in such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)notice.
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Samples: Lease Agreement (Wilshire Financial Services Group Inc)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed is partially damaged by storm, fire, earthquake, or other casualtyAct of God, or damaged Landlord shall repair the same at Landlord’s expense, subject to the extent thatprovision of the Article and provided such repairs can, in Landlord's ’s reasonable opinion opinion, be made within sixty (60) days. During such repairs, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant. Tenant’s employees, agents, or invitee’s, an abatement of Rents shall be allowed Tenant for such portion of Premises and period of time as the Premises was unusable by Tenant.
(b) If in Landlord’s reasonable opinion the partially damaged Premises can be repaired, but not within sixty (60) days, the Landlord shall notify may elect, upon written notice to Tenant in writing within forty-five thirty (4530) days of such damages, to repair such damages over a longer time period and continue the date Lease in full force and effect, but with Rents partially abated as provided in Article 11(a). In the event such repairs cannot be made within sixty (60) days, Tenant shall have the option to terminate the Lease provided that written notice is given to Landlord within thirty (30) days of receipt of Landlord’s notice stated in this paragraph.
(c) If the damage that the damage will partially damaged Premises is to be restored (and will include Landlord's good faith estimate of the date the restoration will be complete)repaired under this Article, in which case Rent Landlord shall xxxxx as repair such damages to any portion of the Premises which is not usableitself, and to the Tenant Improvements supplied by Landlord herein. Except in the event of Landlord’s gross negligence or willful misconduct, Tenant shall restore be responsible for Tenant’s equipment, furniture and fixtures, and other alteration, additions and improvements made by Tenant to the Premises to and Building.
(d) If in Landlord’s reasonable opinion, the Premises is totally or substantially destroyed by fire or other casualty, the same condition as before the damage occurred as soon as practicable, whereupon full Rent Lease shall recommenceterminate upon notice by Landlord.
Appears in 1 contract
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant’s Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualty, or damaged cause then the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored; provided, however, if the damage shall be attributable to the fault or negligence of Tenant, its agents or employees, then rent shall continue but shall be reduced by any amounts received by Landlord pursuant to Landlord’s coverage for business interruption and/or rent insurance attributable to the Demised Premises. If all or a substantial majority of the Demised Premises shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the Rents shall xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises; provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, Rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty, then in either such case, Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate this Lease by notice to Landlord provides Tenant written notice of Landlord's reasonable estimate if Landlord has not completed the making of the time necessary to restore required repairs and restored and rebuilt the damageBuilding and the Demised Premises within twelve (12) months from the date of such damage or destruction, or if within such period after such date (not exceeding six (6) months) as shall equal the damage is not covered aggregate period Landlord may have been delayed in doing so by standard "all risks" property insurance and as a result adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord’s reasonable control (“Force Majeure”).
21.04. No damages, compensation, or claim shall be payable by Landlord elects not for inconvenience, loss of business, or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall endeavor to restore such damagerepair or restoration promptly and in such manner as not unreasonably to interfere 4846-0294-9028.v11 with Tenant’s use and occupancy during such time that Tenant is able to use the Demised Premises during Landlord’s restoration.
21.05. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors in connection with the processing of any claim, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant’s rents.
21.06. Landlord will not carry insurance of any kind on Tenant’s Property, and shall not be obligated to repair any damage thereto or replace the same.
21.07. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and any law of the State of New Jersey providing for such a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall have no application in such case.
21.08. If the Demised Premises and/or access thereto become partially or totally damaged or destroyed by any casualty not insured against, then Landlord shall have the right to terminate this Lease effective as of upon giving the date of such destruction or damage by written notice to the other on or before Tenant thirty (30) days following Landlord's days’ notice described in and upon the next sentence and Rent shall be accounted for as between Landlord and Tenant as expiration of that date. Landlord shall provide Tenant with said thirty (30) day notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) aboveperiod, this Lease shall remain in full force and effectterminate as if such termination date were the Expiration Date. In the event of an uninsured casualty, Landlord shall notify give Tenant in writing notice within forty-five sixty (4560) days after the casualty, whether or not Landlord intends to restore the Demised Premises and/or access to the Demised Premises regardless of the date lack of insurance coverage. In the damage that event Landlord (i) informs Tenant it has elected not to restore the damage will be restored Demised Premises and/or access thereto due to the casualty being uninsured; or (and will include Landlord's good faith estimate of ii) if the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which casualty is not usableinsured, fails to inform Tenant within sixty (60) days after the casualty that Landlord is uninsured for the casualty, Tenant shall also have the right, upon thirty (30) days’ notice, to terminate the Lease, and Landlord this Lease shall restore terminate as if such termination date provided by Tenant were the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceExpiration Date.
Appears in 1 contract
Samples: Lease Agreement (UroGen Pharma Ltd.)
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause not attributable to the fault or negligence of Tenant, its agents, or damaged employees, the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant Demised Premises shall have been rendered untenantable and for the right to terminate this Lease effective as of period from the date of such damage or destruction or damage by written notice to the other on date the damage shall be repaired or before thirty (30) days following restored; provided, however, if the damage shall be attributable to the fault or negligence of Tenant, its agents or employees, then rent shall continue but shall be reduced by any amounts received by Landlord pursuant to Landlord's notice described in coverage for business interruption and/or rent insurance attributable to the next sentence and Rent Demised Premises. If the Demised Premises or a major part thereof shall be accounted for totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall axxxx as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the damage will same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within ninety (90) days after the date of the casualty. Within such ninety (90) day period, Landlord shall advise Tenant of the estimated length of time needed by Landlord to restore the Demised Premises from the date of the notice if Landlord determines not to cancel. If such time period is greater than ten (10) months, Tenant may terminate the Lease by notice to Landlord within thirty (30) days of such notice. If Tenant does not cancel within that time, Tenant may thereafter cancel if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within the nine (and will include 9) month period (or greater period in the notice if Tenant did not cancel) or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's good faith estimate reasonable control.
21.04. No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of the date the business, or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Demised Premises which is not usable, and or of the Building pursuant to this Article. Landlord shall restore use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy during such time that Tenant is able to use the Demised Premises during Landlord's restoration.
21.05. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the holder of any superior mortgage shall be unable to substantially collect all of the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.insurance
Appears in 1 contract
Samples: Lease Agreement (Intelligroup Inc)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion opinion, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "“all risks" ” property insurance, or if the Landlord’s lender legally requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice delivered to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with written notice within forty-five no later than sixty (4560) days following the date of the such damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage coverage, and whether or not Landlord’s lender requires the insurance proceeds be applied to its loan. If the Premises are destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that the Premises cannot be used to conduct Tenant’s business, in Tenant’s reasonable opinion, and, in Landlord’s reasonable opinion, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord’s reasonable estimate of the time necessary to restore the damage, Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice delivered to Landlord on or before thirty (30) days following receipt of Landlord’s notice and if not, whether Rent shall be accounted for as between Landlord nevertheless elects to restore)and Tenant as of that date.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to to, or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five no later than sixty (4560) days of after the date of the such damage that the such damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usableusable for the period of untenantability, and Landlord shall promptly commence to diligently restore the Premises to substantially the same condition as before the such damage occurred as soon as practicable, whereupon full Rent shall recommence. If, regardless of any damage to the Premises, Tenant’s Exclusive Parking Areas are damaged by any casualty described in Paragraph 23(a), above, and cannot be restored within two hundred seventy (270) days of the date Landlord provides Tenant with written notice of Landlord’s reasonable estimate of the time necessary to restore the damage (Landlord to give such notice no later than sixty (60) days following the date of such damage), then, provided that such damage, or the casualty causing such damage, was not caused by Tenant or Tenant’s Affiliates, Tenant shall have the right to terminate this Lease upon written notice to Landlord, which notice shall be given no later than fifteen (15) days after the date of Landlord’s notice to Tenant and which notice shall specify Tenant’s requested termination date, which date shall be no earlier than thirty (30) days and no later than one hundred twenty (120) days after the date of Landlord’s notice to Tenant regarding the estimated time necessary to complete the restoration.
(c) If such damage occurs within the last twelve (12) months of the Term, either party shall have the right, upon delivery of written notice to the other party within thirty (30) days following such damage, to cancel and terminate this Lease as of the date of such damage, provided, however, that Tenant may not elect to terminate this Lease if such damage was caused by the intentional act of Tenant, its agents, servants, employees or invitees.
(d) Tenant agrees that Landlord’s obligation to restore, and the abatement of Rent provided herein, or Tenant’s right to terminate as above set forth in this Section 23, shall be Tenant’s sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. If prior to any such election to terminate Tenant has elected to extend the Term pursuant to the provisions of this Lease and such election may not then according to its terms be rescinded or terminated, then for purposes of this Section 23 the Term shall be deemed to expire on such extended date.
Appears in 1 contract
Samples: Industrial/R&d Lease Agreement (TNAV Holdings, Inc.)
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause not attributable to the fault or negligence of Tenant, its agents, or damaged employees, the rents payable hereunder shall be abated to the extent thatthat the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage shall be repaired or restored; provided, in however, if the damage shall be attributable to the fault or negligence of Tenant, its agents or employees, then rent shall continue but shall be reduced by any amounts received by Landlord pursuant to Landlord's reasonable opinion coverage for business interruption and/or rent insurance attributable to the Demised Premises. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage canor destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate the Lease by notice to Landlord, if Landlord provides Tenant written notice of Landlord's reasonable estimate has not completed the making of the time necessary to restore required repairs and restored and rebuilt the damage, or if Building and the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of Demised Premises within twelve (12) months from the date of such destruction damage or damage destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord may have been delayed in doing so by written notice to the adjustment of insurance, labor trouble, governmental controls, act of God, or any other on or before thirty (30) days following cause beyond Landlord's notice described in the next sentence and Rent reasonable control.
21.04. No damages, compensation, or claim shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date business, or annoyance arising from any repair or restoration of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises which is not usable, and or of the Building pursuant to this Article. Landlord shall restore use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy during such time that Tenant is able to use the Demised Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceduring Landlord's restoration.
Appears in 1 contract
Destruction or Damage. (a) If the Building or the Premises are totally damaged or destroyed by storm, fire, earthquake, fire or other casualty, and this Lease is not terminated as provided below, Landlord shall repair the damage and restore or damaged rebuild the Building and the Premises (as the case may be), at its expense, with reasonable dispatch after notice to it of the damage or destruction, to the extent thatthat insurance proceeds are available for such repair, in Landlord's reasonable opinion the damage canrestoration or rebuilding; provided, however, that Landlord shall not be restored within one hundred eighty (180) days required to repair or replace any of the date Landlord provides Tenant written notice of LandlordTenant's reasonable estimate of the time necessary to restore the damageProperty, or if the damage is not covered any alteration of Leasehold Improvements made by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord Tenant or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered nonstandard building improvements made by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged or destroyed by any fire or other casualty, the Rent shall equitably xxxxx, to the extent that the Premises are rendered untenantable, for the period from the date of such damage or destruction to the date the damage is repaired or restored.
(c) If the Building or the Premises is substantially damaged or destroyed by fire or other casualty, Landlord may terminate this Lease by notice to Tenant within ninety (90) days after the date of the casualty, and this Lease shall terminate upon the thirtieth (30th) day after such notice, by which date Tenant shall vacate and surrender the Premises to Landlord. The Rent shall be prorated to the date of the casualty. The Premises or Building (whether or not the Premises are damaged) shall be deemed substantially damaged or destroyed if (i) the amount of the damage is more than twenty percent (20%) of the replacement value of the Building immediately prior to the casualty or casualties but neither party (ii) restoration is entitled not possible in accordance with Landlord's reasonable estimate within one hundred eighty (180) days following the date the damage occurred. If, by reason of such casualty, the Premises are rendered untenantable in some material portion, and the amount of time required to or neither party elects repair the damage is reasonably determined by Landlord to be in excess of one hundred eighty (180) days from the date of such casualty, then Tenant shall have the right to terminate this Lease as provided in subparagraph by giving Landlord written notice of termination within thirty (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (4530) days of after the date Landlord delivers Tenant notice that the amount of time required to repair the damage that the damage will has been determined by Landlord to be restored in excess of one hundred eighty (and will include Landlord's good faith estimate 180) days.
(d) No damages, compensation or claim shall be payable by Landlord for any casualty, or any inconvenience, loss of the date the business or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usable, and or of the Building pursuant to this Section. Landlord shall restore use its best efforts to make such repair or restoration promptly and in such manner as will not unreasonably interfere with Tenant's use and occupancy of the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencePremises.
Appears in 1 contract
Samples: Office Lease Agreement (Talk Com)
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause not attributable to the fault or negligence of Tenant, its agents, or damaged employees, the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage cannot shall be restored within one hundred eighty repaired or restored. If the Demised Premises or a major part thereof shall be totally (180which shall be deemed to include substantially totally) days damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises for the ordinary conduct of its work during the period of restoration work is taking place and prior to restore the damagedate that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building shall be totally damaged or destroyed by fire or other cause, or if the damage is Building shall be so damaged or destroyed by fire or other cause (whether or not covered by standard "all risks" property insurance the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty, and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate all other leases, then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within sixty (60) days after the date of the casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate the Lease by notice to Landlord, if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within twelve (12) months from the date of such damage or destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's reasonable control. In connection with any damage pursuant to this Section 21.03, if the Building is damaged during the last two (2) years of the term, then Tenant may cancel this Lease effective as of the date of such destruction or damage the casualty by written notice to the other on or before notifying Landlord within thirty (30) days following Landlord's notice described in of the next sentence and Rent casualty.
21.04. No damages, compensation, or claim shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that datebusiness, or annoyance arising from any repair or restoration of any portion 2of the Demised Premises or of the Building pursuant to this Article. Landlord shall provide use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy during such time that Tenant with notice within forty-five (45) days following is able to use the date of the damage of the estimated time needed to restore, and whether the loss is covered by Demised Premises during Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)restoration.
(b) If the Premises are damaged by 21.05. Landlord will not carry insurance of any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease kind on Tenant's Property, and, except as provided in subparagraph (a) aboveby law or by reason of its fault or its breach of any of its obligations hereunder, this Lease shall remain in full force and effectnot be obligated to repair any damage thereto or replace the same; to the extent that Tenant shall maintain insurance on Tenant's Property, Landlord shall notify Tenant in writing within forty-five (45) days of not be obligated to repair any damage thereto or replace the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencesame.
Appears in 1 contract
Samples: Lease Agreement (Pxre Group LTD)
Destruction or Damage. (a) 20.01 If the Building or the Premises are totally destroyed is materially damaged by storm, fire, earthquake, act of God, the elements or other casualty, or damaged Landlord shall may elect to the extent that, in Landlord's reasonable opinion the repair such damage cannot be restored by giving Tenant written notice within one hundred eighty thirty (18030) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence casualty and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect. If such damage is not the result of the negligence or willful misconduct of Tenant or Tenant’s agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant’s use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord under Section 20.02. If Landlord does not so elect to make such repairs, this Lease shall notify Tenant in writing within forty-five (45) days terminate as of the date of such fire or other casualty.
20.02 If Landlord elects to repair the Premises under Section 20.01 above or the damage that to the Premises and the Building is not material, Landlord shall repair at its cost any injury or damage will to the Building and Building Standard Work in the Premises. Tenant shall be restored (responsible at its sole cost and will include Landlord's good faith estimate expense for the repair, restoration and replacement of the date the any other Leasehold Improvements and Tenant’s Property. Landlord shall not be liable for any loss of business inconvenience or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usablePremises, and Landlord shall restore the Premises to substantially the same condition Building or Project as before the a result of any damage occurred as soon as practicable, whereupon full Rent shall recommencefrom fire or other casualty.
Appears in 1 contract
Samples: Lease Agreement (Sezzle Inc.)
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant’s Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualty, or damaged cause then the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored; provided, however, if the damage shall be attributable to the fault or negligence of Tenant, its agents or employees, then rent shall continue but shall be reduced by any amounts received by Landlord pursuant to Landlord’s coverage for business interruption and/or rent insurance attributable to the Demised Premises. If all or a substantial majority of the Demised Premises shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the Rents shall xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises; provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, Rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty, then in either such case, Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate this Lease by notice to Landlord if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within twelve (12) months from the date of such damage or destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord provides may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord’s reasonable control.
21.04. No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of business, or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall endeavor to restore such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant’s use and occupancy during such time that Tenant is able to use the Demised Premises during Landlord’s restoration.
21.05. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors in connection with the processing of any claim, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant’s rents.
21.06. Landlord will not carry insurance of any kind on Tenant’s Property, and shall not be obligated to repair any damage thereto or replace the same.
21.07. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and any law of the State of New Jersey providing for such a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall have no application in such case.
21.08. If the Demised Premises and/or access thereto become partially or totally damaged or destroyed by any casualty not insured against, and Landlord does not elect, by written notice of Landlord's reasonable estimate of to Tenant delivered within forty-five (45) days after the time necessary casualty event, to use its own funds to restore the damageDemised Premises, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant then either Party shall have the right to terminate this Lease effective as of the date of such destruction or damage by written upon thirty (30) days’ notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)Party.
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Destruction or Damage. (a) 22.01. If the Building Demised Premises and/or access thereto shall be partially or the Premises are totally damaged or destroyed by storm, fire, earthquake, fire or other casualty, then, Landlord shall, subject to its rights under Section 22.03 hereof, repair the damage and restore and rebuild the Demised Premises and/or access thereto as nearly as may be reasonably practical to its condition and character immediately prior to such damage or destruction, with reasonable diligence after notice to it of the damage or destruction.
22.02. If the Demised Premises and/or access thereto shall be partially or totally damaged or destroyed by fire or other casualty not attributable to the fault, negligence or misuse of the Demised Premises by the Tenant, its agents or employees under the provisions of this Lease, the rents payable hereunder shall be abated to the extent thatthat the Demised Premises shall have been rendered untenantable from the date of such damage or destruction to the date the damage shall be substantially repaired or restored or rebuilt. Should Tenant reoccupy a portion of the Demised Premises during the period that the repair, restoration, or rebuilding is in progress and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy to the date Demised Premises are made tenantable.
22.03. In case the Building shall be so damaged by such fire or other casualty that substantial renovation, reconstruction or demolition of the Building shall, in Landlord's reasonable opinion be required (whether or not the damage cannot be restored Demised Premises shall have been damaged by such fire or other casualty), then Landlord may, at its option, terminate this Lease and the term and estate hereby granted, by notifying Tenant in writing of such termination, within one hundred eighty (180) 60 days after the date of such damage. If at any time prior to Landlord giving Tenant the aforesaid notice of termination or commencing the repair and restoration pursuant to Section 22.01, the holder of a superior mortgage or any person claiming under or through the holder of such superior mortgage takes possession of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damageBuilding through foreclosure or otherwise, such holder or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant person shall have a further period of 60 days from the right date of so taking possession to terminate this Lease effective by appropriate written notice to Tenant. In the event that such a notice of termination shall be given pursuant to either of the next two preceding sentences, this Lease and the term and estate hereby granted shall expire as of the date of such destruction termination with the same effect as if that were the date hereinbefore set for the expiration of the term of this Lease, and the fixed and additional rent due and to become due hereunder shall be apportioned as of such date if not earlier abated pursuant to Section 22.02. Nothing contained in this Section 22.03 shall relieve Tenant from any liability to Landlord or to its insurers in connection with any damage by written notice to the Demised Premises or the Building by fire or other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent casualty if Tenant shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)legally liable in such respect.
(b) If the Premises are damaged 22.04. No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any such casualty repair or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days restoration of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises which is or of the Building pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not usableunreasonably to interfere with Tenant's use and occupancy.
22.05. Landlord will not carry insurance of any kind on Tenant's property, and, except as provided by law or its breach of any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same.
22.06. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and any law to the contrary, now or hereafter in force, shall have no application in such case.
22.07. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the holder of any superior mortgage shall restore be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of the Tenant or any of its employees, agents or contractors, then, without prejudice to substantially any other remedies which may be available against Tenant, the same condition as before abatement of Tenant's rents provided for in this Article shall not be effective to the damage occurred as soon as practicable, whereupon full Rent shall recommenceextent of the uncollected insurance proceeds.
Appears in 1 contract
Destruction or Damage. (a) a. If the Building Premises or the Premises are totally destroyed portion of the Building necessary for Tenant's occupancy is damaged by storm, fire, earthquake, or act of God, the elements of other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Article, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion the damage cannot opinion, be restored completed within one hundred eighty (180) days of the date days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty determines that repairs can be completed within one hundred eighty (30180) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect, Landlord except that if such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees, contractors, licensees or invitees, the Base Rent shall notify Tenant in writing within forty-five (45) days be abated to the extent Tenant's use of the Premises is impaired, commencing with the date of damage and continuing until completion of the, repairs required of Landlord under Section 19d
b. See addendum One - Additional Provisions.
c. See addendum One - Additional Provisions.
d. If the Premises are to be repaired under this Article, Landlord shall repair at its cost any injury or damage that to the damage will Building and Building Standard Work in the Premises. Tenant shall be restored (responsible at its sole cost and will include Landlordexpense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's good faith estimate Property. Landlord shall not be liable for any loss of the date the business, inconvenience or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usablePremises, Building or Project as a result of any damage from fire or other casualty.
e. This Lease shall be considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord and Tenant in such circumstances in the absence of express agreement, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application.
Appears in 1 contract
Samples: Lease Agreement (Air Methods Corp)
Destruction or Damage. (a) a. If the Premises or a material portion of the Building or the Premises are totally destroyed necessary for Tenant’s occupancy is damaged by storm, fire, earthquake, act of God, the elements or other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Article, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion the damage cannot ’s opinion, be restored completed within one hundred eighty (18090) days of the date ninety days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty determines that repairs can be completed within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect, except that if such damage is not the result of the negligence or willful misconduct of Tenant or Tenant’s agents, employees, contractors, licensees or invitees, the Rent shall be abated to the extent Tenant’s use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord under Section 19d.
b. If Landlord’s estimate of the time required for repair exceeds ninety (90) days, either party shall notify Tenant in writing have the right to terminate this Lease by giving notice to the other within forty-five thirty (4530) days after Tenant’s receipt of the estimate. If Landlord does not substantially complete repair and restoration of damage or does not restore access to the Premises within the ninety 90 day period, measured from the date of the casualty or loss of access, Tenant shall have the right to terminate this Lease by giving written notice to Landlord within sixty (60) days after expiration of the estimated repair period. If the damage or destruction occurs during the last year of the Term, either party may terminate this Lease by giving notice to the other Party
c. If any other portion of the Building or Project is totally destroyed or damaged to the extent that in Landlord’s opinion repair thereof cannot be completed within ninety (90) days, Landlord may elect upon notice to Tenant given within thirty (30) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19a. If Landlord does not elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
d. If the Premises are to be repaired under this Article, Landlord shall repair at its cost any injury or damage that to the damage will Building and Building Standard Work in the Premises. Tenant shall be restored (responsible at its sole cost and will include Landlord's good faith estimate expense for the repair, restoration and replacement of the date the any other Leasehold Improvements and Tenant’s Property. Landlord shall not be liable for any loss of business, inconvenience or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usablePremises, Building or Project as a result of any damage from fire or other casualty.
e. This Lease shall be considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord and Tenant in such circumstances in the absence of express agreement, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application.
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Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be artially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause not attributable to the fault or negligence of Tenant, its agents, or damaged employees, the rents payable hereunder shall be abated to the extent thatthat the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage shall be repaired or restored; provided, in however, f the damage shall be attributable to the fault or negligence of tenant, its agents or employees, then rent shall continue but shall be reduced by any amounts received by Landlord pursuant to Landlord's reasonable opinion coverage for business interruption and/or rent insurance attributable to the Demised Premises. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage canor destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building, or the Demised Premises shall be totally damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (15%) of the full insurable value of the Building immediately prior to the casualty then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate the Lease by notice to Landlord, if landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within twelve (12) months from the date of such damage or destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord provides Tenant written notice may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's reasonable estimate control.
21.04. No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of business, or annoyance arising from any repair or restoration of any portion of the Demised Pr mises or of the Building, pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy during such time necessary that Tenant is able to restore use the damageDemised Premises during Landlord's restoration.
21.05. Not-withstanding any of the foregoing provisions of this Article, if Landlord or if the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the in urance proceeds (including rent insurance proceeds) applicable to damage is or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors in connection with the processing of any claim, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant's rents.
21.06. Landlord will not covered carry insurance of any kind on Tenant's Property, and, except as provided by standard "all risks" property law or by reason of its fault or its breach f any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same; to the extent that Tenant shall maintain insurance and as a result Landlord elects not to restore such damageon Tenant's Property, Landlord shall not be obligated to repair any damage thereto or Tenant replace the same.
21.07. The provisions of this article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and any law of the State of New Jersey providing for such a contingency in the absence of an express agreement, an any other law of like import, now of hereafter in force, shall have no application in such case.
21.08. If the Demised Premises and/or access thereto become partially or totally damaged or destroyed by any casualty not insured against, then Landlord shall have the right to terminate this Lease effective as of upon giving the date of such destruction or damage by written notice to the other on or before Tenant thirty (30) days following Landlord's notice described in and upon the next sentence and Rent shall be accounted for as between Landlord and Tenant as expiration of that date. Landlord shall provide Tenant with said thirty (30) day notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, period this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of terminate as if such termination date were the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceExpiration Date.
Appears in 1 contract
Samples: Lease Agreement (Robotic Lasers Inc)
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, firethen, earthquakewhether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause not attributable to the fault, negligence or damaged misuse of the Demised Premises by the Tenant, its agents or employees, the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant Demised Premises shall have been rendered untenantable and for the right to terminate this Lease effective as of period from the date of such damage or destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in date the next sentence and Rent damage shall be accounted for as between Landlord and Tenant as of that daterepaired or restored. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Demised Premises are or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged by any such casualty or casualties but neither party is entitled destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or neither party elects to terminate this Lease as provided in subparagraph (a) aboveother cause, this Lease the rents shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days abatx xx of the date of the damage or destruction and until Landlord shall repair, restore and rebuild the Building and the Demised Premises, provided, however, that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any should Tenant reoccupy a portion of the Demised Premises which during the period the restoration work is not usable, taking place and Landlord shall restore prior to the Premises to substantially date that the same condition as before are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the damage occurred as soon as practicable, whereupon full Rent shall recommencedate of such occupancy.
Appears in 1 contract
Samples: Lease (Barringer Technologies Inc)
Destruction or Damage. (a) If the Building all or a substantial portion of the Premises are totally destroyed be rendered untenantable, inaccessible or unsafe by storm, fire, earthquake, fire or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days portions of the date Landlord provides Tenant written notice of Landlord's reasonable estimate Building exclusive of the time necessary Premises are damaged or a system therein is damaged in such a way as to restore render the damagePremises untenantable by fire or other casualty, and if it is reasonably anticipated that even though undertaken and pursued with all due diligence it will require more than six (6) months to repair the damaged area, or if the damage is not covered Building or Premises are damaged by standard "all risks" property insurance and as a result an uninsured casualty, (i) Landlord elects not to restore such damage, Landlord or Tenant shall have the right to may terminate this Lease effective as of the date of such destruction or damage casualty by written notice to the other on or before Tenant given within thirty (30) days following Landlord's notice described in after such occurrence, and (ii) if such casualty occurs during the next sentence last twelve (12) months of the Term and Rent shall be accounted for as between Landlord and is not caused by an act or omission of Tenant, Tenant may terminate this Lease as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but by notice to Landlord given within thirty (30) days after such occurrence. If neither party is entitled to or neither party Landlord nor Tenant elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effectLease, Landlord shall notify Tenant in writing within forty-five (45) days of proceed with all due diligence to repair the date of the damage that the damage will be restored (and will include damaged area at Landlord's good faith estimate of expense and the date the restoration will be complete), in which case Rent shall xxxxx as abatx xx to any that portion of the Premises which is untenantable for so long as the same shall remain untenantable. If this Lease is terminated pursuant to this section, Rent shall be apportioned on a per diem basis and paid to the date of the casualty. If the Premises are partially damaged by fire or other casualty but are not usablerendered substantially untenantable taking into consideration Tenant's normal use of the Premises, and then Landlord shall restore proceed with all due diligence to repair the Premises to substantially and the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencenot abatx.
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Destruction or Damage. (a) 19.1. If the Building or the Demised Premises are totally shall be damaged or destroyed by storm, fire, earthquake, tire or other casualty, and this Lease shall not have been terminated as provided in Paragraph 19.3., Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at his expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property or any alteration or leasehold improvements made by Tenant.
19.2. If the Demised Premises shall be partially damaged or partially destroyed by tire or other casualty, the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant Demised Premises shall have been rendered untenantable and for the right to terminate this Lease effective as of period from the date of such damage or destruction to the date the damage shall be repaired or damage restored.
19.3. If the Building or the Demised Premises shall be substantially damaged or destroyed by written fire or other casualty, then in either such case, Landlord may terminate this Lease by giving Tenant notice to the other on or before thirty such effect within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following after the date of the damage casualty, which notice shall be given as in this Lease provided, and thereupon the term of this Lease shall expire by lapse of time upon the thirtieth (30th) day after notice is given and Tenant shall vacate the Demised Premises and surrender the same to Landlord. The Demised Premises and/or Building (whether or not the Demised Premises are damaged), shall be deemed substantially damaged or destroyed if Landlord is required by expend thirty (30%) percent or more of the estimated time needed to restore, and whether full replacement value of (a) the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
Building or (b) If the Premises are damaged by any such casualty thirty (30%) percent or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days more of the date full replacement value of the Demised Premises immediately prior to such damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencedestruction.
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Destruction or Damage. (a) Tenant shall promptly notify Landlord of any material damage to the Premises resulting from fire or any other casualty. If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion the damage cannot be restored within one two hundred eighty seventy (180270) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss – Special Form property insurance, or if the Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice (the “Casualty Notice”) within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage and whether or not Landlord’s lender requires the insurance proceeds be applied to its loan. If Landlord has notified Tenant that the Premises can not be restored within two hundred seventy (and if not270) days after the date of the Casualty Notice, whether Landlord nevertheless elects to restore)then Tenant may, within thirty (30) days after the date of the Casualty Notice, terminate this Lease effective as of the date of such damage or destruction.
(b) If the Premises are damaged by any such casualty or casualties but neither party is Landlord and Tenant are not entitled to or neither party elects to do not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be completecomplete (the “Estimated Restoration Date”)), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred (“Casualty Substantial Completion”) as soon as practicable, whereupon full Rent shall recommence.. In the event Landlord does not so restore the Premises to Casualty Substantial Completion as set forth in the preceding sentence on or before the date that is three hundred sixty (360) days following the Casualty Notice (or the date that is ninety (90) days after the Estimated Restoration Date, whichever is greater) (such greater date being referred to herein as the “Casualty Outside Date”), which date shall be delayed on a day for day basis for each day of force majeure (as defined in Section 55 hereof) and for each day of “Tenant Casualty Delay” (as hereinafter defined), Tenant shall have the right to terminate this Lease by providing written notice to Landlord in the manner
Appears in 1 contract
Destruction or Damage. LEGAL02/30607851v15
(a) If (i) the Office Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, that in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice (the “Casualty Notice”) of Landlord's reasonable estimate of the time necessary to restore the damage, or (ii) if the damage is not covered by standard "all risks" ISO Causes of Loss - Special Form property insurance and as a result Landlord elects provides Tenant notice that Landlord will not otherwise fund the costs to restore such the damage, or (iii) if the Landlord's lender requires that the insurance proceeds be applied to its loan and Landlord or provides Tenant notice that Landlord will not otherwise fund the costs to restore the damage, both Landlord and Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other party on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice the Casualty Notice within forty-five sixty (4560) days following the date of the damage of which shall include (x) the estimated time needed to restore, and (y) whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects will otherwise fund the costs to restorerestore the damage), and (z) whether or not Landlord's lender requires the insurance proceeds be applied to its loan (and if so, whether Landlord will otherwise fund the costs to restore the damage).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate terminates this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
(c) Notwithstanding anything to the contrary contained herein, Landlord shall have no obligation to restore any item that is Tenant’s responsibility to insure under Section 22 hereof (other than any leasehold improvements, which Landlord will restore in accordance with the foregoing, to the extent Landlord actually receives insurance proceeds from Tenant or Tenant’s insurer to pay for such restoration), regardless of whether Tenant insures same, undertakes self insurance with respect to same or fails to maintain insurance with respect to same; Tenant shall bear the responsibility for prompt restoration of all such items.
Appears in 1 contract
Samples: Lease Agreement (Healthsouth Corp)
Destruction or Damage. (a) 22.1 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article 22 hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property, including without limitation, Tenant's Initial Alterations, it being understood and agreed that Landlord's obligations with respect to the Demised Premises shall be to restore the Demised Premises to substantially the same condition as existed on the Commencement Date.
22.2 If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause, or damaged the fixed rent and additional rent payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date which is thirty (30) days after the date that the damage cannot shall be substantially repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rent fixed rent and additional rent xxxxx as of the date of the damage or destruction and until the date which is thirty (30) days after Landlord shall have repaired, restored and rebuilt the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the Demised Premises are made completely untenantable, fixed rent and additional rent allocable to such portion shall be payable by Tenant from the date of such occupancy.
22.3 If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause as to require a reasonably estimated expenditure of more than forty (40%) percent of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the casualty. In case of any damage or destruction mentioned in this Article 22, Tenant may terminate this Lease by notice to Landlord, if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within eighteen (18) months from the date of such damage or destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord provides Tenant written notice may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's reasonable estimate control and such termination shall be effective upon the expiration of thirty (30) days after the date of such notice. Without limiting the generality of the time necessary to restore foregoing, if, during the damagelast eighteen (18) months of the term of this Lease, fifty percent (50%) or if more of the damage area of the Demised Premises is not covered damaged or destroyed by standard "all risks" property insurance fire or other casualty and as a result Landlord elects not to restore such damageare, Landlord or thus, rendered unusable and untenantable by Tenant, Tenant shall have the right to terminate this Lease effective by giving Landlord notice to such affect within twenty (20) days after the date of the fire or other casualty. If Tenant elects to terminate this Lease as aforesaid, this Lease shall terminate on the date which is thirty (30) days after the date of the fire of other casualty as if such date were the Expiration Date herein originally fixed. In such event, and in any other event under this Article 22 wherein Tenant has the right to terminate this Lease due to a fire or other casualty, as a condition to the effectiveness of Tenant's termination notice and to the termination of this Lease in accordance therewith, Tenant shall, and hereby agrees to, assign to Landlord all of Tenant's right, title and interest in and to all insurance proceeds with respect to Tenant's Initial Alterations and Landlord shall have the sole right to adjust any loss in connection therewith.
22.4 No damages, compensation or claim shall by payable by Landlord for inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to this Article 22. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy.
22.5 Notwithstanding any of the foregoing provisions of this Article 22, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction to the Demised Premises or the Building by fire or other cause, by reason of Tenant's willful acts or omissions some action or inaction on the part of Tenant or any of its employees, agents or contractors, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant's fixed rent and additional rent until the total amount of such rents not abated which would otherwise have been abated equals the amount of uncollected insurance proceeds. The provisions of this 22.5 shall not, in any way, obviate or adversely affect Landlord's obligation under Section 11.2 of this Lease with respect to obtaining a waiver of subrogation of permission for waiver of claim in Landlord's fire and casualty insurance policies.
22.6 Landlord will not carry separate insurance of any kind on Tenant's Property and Landlord shall not be obligated to repair any damage thereto or replace the same.
22.7 In the event of the termination of this Lease pursuant to any of the provisions of this Article 22, this Lease and the term and estate hereby granted shall expire as of the date of such termination with the same effect as if that were the Expiration Date, and the fixed rent and additional rent payable hereunder shall be apportioned as of such date.
22.8 The provisions of this Article 22 shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or damage by written notice other casualty, and Section 227 of the Real Property Law of the State of New York, providing for a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall have no application to the other on or before thirty (30) days following Landlord's notice described in the next sentence Demised Premises and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)this Lease.
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Samples: Lease (Merit Behavioral Care Corp)
Destruction or Damage. (a) If the Building Premises or the Premises are totally destroyed portion of the Building necessary for Tenant’s occupancy is damaged by storm, fire, earthquake, act of God, the elements or other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Section 18, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion the damage cannot ’s opinion, be restored completed within one hundred eighty ninety (18090) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any which such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph occurred. If Landlord determines that repairs can be completed within ninety (a90) abovedays, this Lease shall remain in full force and effect, and, provided that such damage is not the result of the negligence or willful misconduct of Tenant or Tenant’s agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant’s use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord shall notify Tenant under Section 18(d) below.
(b) If in writing Landlord’s opinion, such repairs to the Premises or portion of the Building necessary for Tenant’s occupancy cannot be completed within forty-five ninety (4590) days of the date on which such casualty occurred, Landlord may elect, upon notice to Tenant given within (30) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the damage that the damage will Base Rent shall be restored (and will include Landlord's good faith estimate partially abated as provided in Section l 8(a) above. If Landlord does not so elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
(c) If any other portion of the restoration will Building or Project is totally destroyed or damaged to the extent that, in Landlord’s opinion, repair thereof cannot be complete)completed within ninety (90) days of the date on which such casualty occurred, Landlord may elect, upon notice to Tenant, given within thirty (30) days after the date of such fire or other casualty, to repair such damage, in which case event this Lease shall continue in full force and effect, but the Base Rent shall xxxxx be partially abated as provided in Section 18(a) above. If Landlord does not elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
(d) If the Premises are to be repaired under this Section 18, Landlord shall repair, at its cost, any injury or damage to the Building and the Work in the Premises, and Tenant shall be responsible, at its sole cost and expense, for the repair, restoration and replacement of any other Leasehold Improvements and Tenant’s Property. Landlord shall not be liable for any loss of business, inconvenience or annoyance arising from any repair or restoration of any portion of the Premises which is not usablePremises, Building or Project as a result of any damage from fire or other casualty.
(e) This Lease shall be considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord and Tenant in such circumstances in the absence of express agreement, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application.
Appears in 1 contract
Samples: Office Building Lease (Cardio Diagnostics Holdings, Inc.)
Destruction or Damage. (a) a. If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss - Special Form property insurance, or if the Landlord's lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord's lender requires the insurance proceeds be applied to restore)its loan.
(b) b. If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
c. Notwithstanding anything to the contrary contained herein, Landlord shall have no obligation to restore any item that is Tenant's responsibility to insure under Section 12 of this Supplement (other than any leasehold improvements, which Landlord will restore in accordance with the foregoing, to the extent Landlord actually receives insurance proceeds from Tenant or Tenant's insurer to pay for such restoration), regardless of whether Tenant insures same, undertakes self insurance with respect to same or fails to maintain insurance with respect to same; Tenant shall bear the responsibility for prompt restoration of all such items.
Appears in 1 contract
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance, or if the Landlord's lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord's lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Samples: Lease Agreement (Emageon Inc)
Destruction or Damage. (a) If a substantial portion of the Premises or the Building be rendered untenantable, inaccessible or the Premises are totally destroyed unsafe by storm, fire, earthquake, fire or other casualty, or and if it is reasonably anticipated that even though undertaken and pursued with all due diligence it will require more than six (6) months to repair the damaged to area from the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days date of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damagecasualty, or if the damage is not covered Building or Premises are damaged by standard "all risks" property insurance and an uninsured casualty either Landlord or Tenant may terminate this Lease as a result Landlord of the date of such casualty by written notice to the other party given within sixty (60) days after such occurrence. If neither party elects not to restore such damageterminate this Lease, Landlord or shall proceed with all due diligence to repair the damaged area at Landlord's expense to substantially the same condition as existed immediately prior to the casualty, and the Rent shall equitably xxxxx until the Premises are fully restored. If the Premises are not fully restored within 60 days after the period of time reasonably anticipated by Landlord to be required to repair the Premises, then Tenant shall have the right to terminate this Lease effective as of by providing Landlord with 30 days prior written notice. If the date of Premises are not repaired within such destruction or damage by written notice 30 day period, this Lease shall terminate. If this Lease is terminated pursuant to the other on or before thirty (30) days following Landlord's notice described in the next sentence and this section, Rent shall be accounted for as between Landlord apportioned on a per diem basis and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following paid to the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) casualty. If the Premises are partially damaged by any such fire or other casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) aboveare not rendered substantially untenantable, this Lease shall remain in full force and effect, then Landlord shall notify Tenant in writing within forty-five (45) days of proceed with all due diligence to repair the date of Premises and the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall equitably xxxxx as to any portion of until the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceare fully restored.
Appears in 1 contract
Samples: Office Lease (Stereotaxis, Inc.)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss—Special Form property insurance, or if the Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with written notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord’s lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five ninety (4590) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
(c) Notwithstanding the foregoing, (i) if the estimated time to restore the Premises as reasonably determined by Landlord is more than two hundred ten (210) days after the date Landlord provides Tenant written notice of Landlord’s estimation of the time to restore the Premises, or (ii) if, subject to a force majeure event (as hereinafter defined), such restoration is not completed within two hundred seventy (270) days after the date of such damage, then Tenant may terminate this Lease within ten (10) days thereafter by giving written notice of such termination to Landlord.
Appears in 1 contract
Destruction or Damage. (a) 21.1 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, firethen, earthquakewhether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this lease shall not have been terminated as in this Article hereinafter provided), the rents shall be abated in accordance with Section 21.2 hereof and Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction, provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property nor to restore any Tenant's Changes.
21.2 If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause, or damaged the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered Untenantable (hereinafter defined) and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) Untenantable on account of fire or other cause, the rents shall abate as of the date of the damage or destruction and until Landlord xxxxl repair, restore and rebuild the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.3 If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than thirty (30%) percent of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date casualty. In case of any damage or destruction to the Demised Premises, Tenant may terminate this lease, by notice to Landlord, if Landlord provides Tenant written notice of Landlord's reasonable estimate has not completed the making of the time necessary to restore required repairs and restored and rebuilt the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of Demised Premises within twelve (12) months from the date of such destruction damage or damage destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord may have been delayed in doing so by written notice to the adjustment of insurance, labor trouble, governmental controls, act of God, or any other on or before thirty (30) days following cause beyond Landlord's notice described in the next sentence and Rent reasonable control.
21.4 No damages, compensation or claim (or other expense, including replacement premises or services) shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date business or annoyance arising from any repair or restoration of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as to not unreasonably interfere with Tenant's use and occupancy.
21.5 Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect rent insurance proceeds applicable to the Demised Premises or the Building by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors, then, without prejudice to any other remedies which is may be available against Tenant, there shall be no abatement of Tenant's rents, but the total amount of such rents not usableabated (which would otherwise have been abated) shall not exceed the amount of the uncollected insurance proceeds.
21.6 Landlord will not carry insurance of any kind on Tenant's Property or Tenant's Changes and, except as provided by law or by reason of its fault or its breach of any of its obligations hereunder, Landlord shall not be obligated to repair any damage thereto or replace the same.
21.7 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and Landlord Section 227 of the Real Property Law of the State of New York, providing for such a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application in such case.
Appears in 1 contract
Destruction or Damage. (a) 22.01 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, firethen, earthquakewhether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property nor to restore any Tenant's Work or Landlord's Work.
22.02 If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause, the rents payable hereunder shall be abated (except if same was a result of the action or damaged inaction of Tenant, its employees or invitees, and except to the extent that, in Landlordof Tenant's reasonable opinion insurance coverage which is required by the terms of this Lease) to the extent that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage or destruction (except if same was a result of the action or inaction of Tenant, its employees or invitees, and except to the extent of Tenant's insurance coverage which is required by the terms of this Lease) and until Landlord shall repair, restore and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
22.03 If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than 20% of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date casualty. In case of any damage or destruction mentioned in this Article Tenant may terminate this Lease, by notice to Landlord, if Landlord provides Tenant written notice of Landlord's reasonable estimate has not completed the making of the time necessary to restore required repairs and restored and rebuilt the damage, or if Building and the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of Demised Premises within twelve (12) months from the date of such destruction damage or damage destruction, or within such period after such date (not exceeding six months) as shall equal the aggregate period Landlord may have been delayed in doing so by written notice to the adjustment of insurance, labor trouble, governmental controls, act of God, or any other on or before thirty (30) days following cause beyond Landlord's notice described in the next sentence and Rent reasonable control.
22.04 No damages, compensation or claim shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date business or annoyance arising from any repair or restoration of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as to not unreasonably interfere with Tenant's use and occupancy.
22.05 Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors, then, without prejudice to any other remedies which is may be available against Tenant, there shall be no abatement of Tenant's rents, but the total amount of such rents not usableabated (which would otherwise have been abated) shall not exceed the amount of the uncollected insurance proceeds.
22.06 Landlord will not carry insurance of any kind on Tenant's Property or Tenant's Work, and, except as provided by law or by reason of its fault or its breach of any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same.
22.07 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and any provision, law or statute of the State of New Jersey, providing for such a contingency in the absence of an express agreement, now or hereafter in force, shall have no application in such case.
22.08 Notwithstanding anything to the contrary set forth in this Lease, in no event shall Landlord shall be obligated to rebuild or restore the Premises any portion of Landlord's Work for which Landlord is entitled to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencereimbursement from Tenant under Article 3 hereof.
Appears in 1 contract
Samples: Lease (Aveta Inc)
Destruction or Damage. 22.01 If the Building or the Demised Premises shall be partially or totally damaged or destroyed by fire or other cause, then, whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this lease shall not have been terminated as in this Article hereinafter provided), Landlord shall, to the extent of insurance proceeds received by it, repair the damage and restore and rebuild the Building and/or the Demised Premises to a condition equivalent (with respect to character, quality, value, utility and appearance and the Building systems) to that which existed immediately prior to such damage with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property nor to restore any Tenant's Work.
(a) If the Building or the Demised Premises are totally shall be partially damaged or partially destroyed by storm, fire, earthquake, fire or other casualtycause, or damaged the rents payable hereunder shall be abated to the extent thatthat the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage shall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
(b) Notwithstanding anything to the contrary contained herein, prior to the date the Demised Premises, or any affected portion thereof, are made completely tenantable, Landlord shall provide Tenant and Tenant's contractor, subcontractors and materialmen access to the Demised Premises to perform any alterations required to prepare the Demised Premises for the conduct of Xxxxxx's business (hereinafter referred to as "Specialty Alterations") on the following terms and conditions:
(i) Tenant shall not commence work in any portion of the Demised Premises until the date specified in a notice from Landlord to Tenant stating that the repairs required to be made by Landlord have been or will be completed to the extent reasonably necessary, in Landlord's reasonable opinion discretion, to permit the commencement of the Specialty Alterations to be performed in the portion in question without interference with, and consistent with the performance of, the repairs remaining to be performed; and
(ii) Such access by Tenant shall be deemed to be subject to all of the applicable provisions of this lease, except that there shall be no obligation on the part of Tenant solely because of such access to pay any fixed rent or additional rent with respect to the affected portion of the Demised Premises for any period prior to the date the damage cannot thereto shall be repaired or restored within one hundred eighty (180) days of in accordance with the date Landlord provides Tenant written notice of Landlord's reasonable estimate of provisions hereof.
22.03 If the time necessary to restore Building or the damageDemised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not the Demised Premises are damaged or destroyed) that its repair or restoration requires the expenditure, as estimated by a reputable contractor or architect designated by Landlord and approved by Tenant, which approval shall not be unreasonably withheld or delayed, of more than 40% of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this lease by giving Tenant notice to such effect within one hundred twenty (120) days after the date of the casualty; provided that if the Demised Premises are not substantially damaged or rendered substantially untenantable, Landlord may not terminate this lease unless it shall elect to terminate leases (including this lease), affecting at least fifty percent (50%) of the rentable area of the Building (excluding any rentable area occupied by Landlord or its affiliates).
(a) Anything contained in this Article 22 to the contrary notwithstanding, within thirty (30) days after notice to Landlord of any damage described in Section 22.01 hereof, Landlord shall deliver to Tenant a statement prepared by a reputable contractor approved by Tenant, which approval shall not be unreasonably withheld or delayed, setting forth such contractor's estimate as to the time and monies required to repair such damage and the assumptions regarding the use of labor (including overtime labor, if applicable) and construction methods considered in arriving at such estimate. If the estimated time period exceeds twelve (12) months from the date of such damage or the estimated monies exceeds the anticipated amount of insurance proceeds (provided Landlord does not agree to supply any deficiency), Tenant may elect to terminate this lease by notice to Landlord not later than sixty (60) days following receipt of such statement or, if no statement is delivered, not earlier than ninety (90) days after the date such statement was to have been delivered. If Xxxxxx makes such election, the Term shall expire upon a date specified by Xxxxxx, not exceeding ninety (90) days after notice of such election is given by Xxxxxx, and Tenant shall vacate the Demised Premises and surrender the same to Landlord in accordance with the provisions of Article 24 hereof. If Tenant shall not have elected to terminate this lease pursuant to this Article 22 (or is not covered entitled to terminate this lease pursuant to this Article 22), and such repairs are (i) not commenced by standard "all risks" property insurance and as a result Landlord elects not to restore within ninety (90) days after the date of such damage, (ii) not substantially completed by Landlord within twelve (12) months after the date of such damage, subject to unavoidable delays (not exceeding six months) on account of delays in the adjustment of insurance, labor troubles, governmental controls, act of God, or any other cause beyond Landlord's reasonable control, Tenant may elect to terminate this lease by notice to Landlord. If Xxxxxx makes such election, the Term of this lease shall expire upon the ninetieth (90th) day after notice of such election is given by Xxxxxx and Tenant shall vacate the Demised Premises and surrender the same to Landlord in accordance with the provisions of Article 24 hereof.
(b) Notwithstanding the foregoing, if (i) the Demised Premises shall be substantially damaged during the last two years of the Term (as the same may be renewed or extended pursuant to Article 40 hereof) or (ii) an engineer selected by Landlord and approved by Tenant, which approval shall not be unreasonably withheld or delayed, shall reasonably estimate that there will be less than two (2) years remaining in the Term (as same may be renewed or extended pursuant to Article 40 hereof) upon completion of restoration of the Building or the Demised Premises, as the case may be, then in either such case, Landlord or Tenant may elect by notice, given within thirty (30) days after the occurrence of such damage, to terminate this lease. Notwithstanding anything contained in this lease to the contrary, if there shall occur a casualty at such time as there shall be estimated to be less than two years remaining in the Term of this lease after completion of restoration but prior to the time that pursuant to the provisions of Article 40 hereof Tenant shall have the right to exercise any renewal option granted hereunder, then, prior to Landlord terminating this lease, Tenant shall have the right to exercise any renewal option granted herein in accordance with the provisions of Article 40 hereof. If either party shall elect to so terminate this Lease effective as of lease, the date Term shall expire upon the ninetieth (90th) day after notice of such destruction election is given by such party and Tenant shall vacate the Demised Premises and surrender the same to Landlord in accordance with the provisions of Article 24 hereof.
22.05 No damages, compensation or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent claim shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date business or annoyance arising from any repair or restoration of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises which is not usable, and or of the Building pursuant to this Article. Landlord shall restore use its best efforts to effect such repair or restoration promptly and in such manner as to not unreasonably interfere with Xxxxxx's use and occupancy.
22.06 Xxxxxx agrees to cooperate with Landlord to enable Landlord to promptly collect any insurance proceeds to which it may be entitled. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors which constitutes a breach of the provisions of this lease, then, without prejudice to substantially any other remedies which may be available against Tenant, there shall be no abatement of Tenant's rents, but the same condition total amount of such rents not abated (which would otherwise have been abated) shall not exceed the amount of the uncollected insurance proceeds.
22.07 Landlord will not carry insurance of any kind on Tenant's Property or Tenant's Work, and, except as before provided by law or by reason of its fault or its breach of any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same.
22.08 The provisions of this Article shall be considered an express agreement governing any case of damage occurred as soon as practicable, whereupon full Rent or destruction of the Demised Premises by fire or other casualty and any applicable law providing for a contingency in the absence of an express agreement now or hereafter in force shall recommencehave no application in such case.
22.09 Any dispute which may arise between the parties with respect to the meaning or application of any of the provisions of this Article 22 shall be determined by arbitration in the manner provided in Article 34 hereof.
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Destruction or Damage. (a) 22.01 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, firethen, earthquakewhether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property nor to restore any Tenant's Work.
22.02 If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause, or damaged the rents payable hereunder shall be abated to the extent thatthat the Demised Premises shall have been rendered untenantable and for, in Landlord's reasonable opinion the period from the date of such damage or destruction to the date the damage canshall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
22.03 If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than 40% of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this lease by giving Tenant notice to such effect within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of after the date of such the casualty. In case of any damage or destruction or damage mentioned in this Article Tenant may terminate this lease, by written notice to the other on or before Landlord, if (i) within thirty (30) days following after Landlord's notice described final insurance adjustment, Landlord either (x) notifies Tenant that it does not intend to repair and restore same, or (y) notifies Tenant that Landlord has reasonably and in good faith determined that the next sentence required repairs or restoration are not capable of being completed in less than twelve (12) months using due diligence, or (ii) Landlord has not completed the making of the required repairs and Rent shall be accounted for as between Landlord restored and Tenant as of that date. Landlord shall provide Tenant with notice rebuilt the Building and the Demised Premises within forty-five twelve (4512) days following months from the date of such damage or destruction, or within such period after such date (not exceeding six months) as shall equal the damage aggregate period Landlord may have been delayed in doing so by adjustment of the estimated time needed to restoreinsurance, and whether the loss is covered by labor trouble, governmental controls, act of Cod, or any other cause beyond Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)reasonable control.
(b) If the Premises are damaged 22.04 No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any such casualty repair or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days restoration of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as to not unreasonably interfere with Tenant's use and occupancy.
22.05 Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors, which is constitutes a breach of any of Tenant's obligations under this lease, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant's rents, but the total amount of such rents not usableabated (which would otherwise have been abated) shall not exceed the amount of the uncollected insurance proceeds.
22.06 Landlord will not carry insurance of any kind on Tenant's Property or Tenant's Work, and, except as provided by law or by reason of its fault or its breach of any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same.
22.07 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and Landlord any provision, law or statute of the State of New Jersey, providing for such a contingency in the absence of an express agreement, now or hereafter in force, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application in such case.
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Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant’s Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualty, or damaged cause then the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage canshall be repaired or restored; provided, however, if the damage shall be attributable to the fault or negligence of Tenant, its agents or employees, then rent shall continue but shall be reduced by any amounts received by Landlord pursuant to Landlord’s coverage for business interruption and/or rent insurance attributable to the Demised Premises. If all or a substantial majority of the Demised Premises shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the Rents shall xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises; provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, Rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty, then in either such case, Landlord may terminate this Lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate this Lease by notice to Landlord if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within twelve (12) months from the date of such damage or destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord provides may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord’s reasonable control. 35
21.04. No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of business, or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall endeavor to restore such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant’s use and occupancy during such time that Tenant is able to use the Demised Premises during Landlord’s restoration.
21.05. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors in connection with the processing of any claim, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant’s rents.
21.06. Landlord will not carry insurance of any kind on Tenant’s Property, and shall not be obligated to repair any damage thereto or replace the same.
21.07. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and any law of the State of New Jersey providing for such a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall have no application in such case.
21.08. If the Demised Premises and/or access thereto become partially or totally damaged or destroyed by any casualty not insured against, and Landlord does not elect, by written notice of Landlord's reasonable estimate of to Tenant delivered within forty-five (45) days after the time necessary casualty event, to use its own funds to restore the damageDemised Premises, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant then either Party shall have the right to terminate this Lease effective as of the date of such destruction or damage by written upon thirty (30) days’ notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)Party.
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Samples: Lease Agreement
Destruction or Damage. (a) If 11.1 In the event the Demised Premises or any portion of the Building or the Premises necessary for Tenant's occupancy are totally destroyed damaged by storm, fire, earthquake, act of God, the elements or other casualty, or damaged to the extent that, casualty in each case insured against by Landlord's reasonable opinion fire and extended coverage insurance policy covering the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Building and, if Landlord's reasonable estimate of the time necessary to restore cost of making such repairs does not exceed the damage, or if the damage is not covered proceeds of such insurance by standard "all risks" property insurance and as a result Landlord elects not to restore such damagemore than One Hundred Thousand Dollars ($100,000), Landlord or Tenant shall have forthwith repair the right to terminate this Lease effective as of the date same if such repairs can, in Landlord's opinion, be completed within ninety (90) days after commencement of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that daterepairs. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this This Lease shall remain in full force and effect except that an abatement of Basic Rental shall be allowed Tenant for such part of the Demised Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable to the extent Landlord is reimbursed therefor by loss of rental income or other insurance. If such repairs cannot, in Landlord's opinion, be made within ninety (90) days, or if such damage or destruction is not insured against by Landlord's fire and extended coverage insurance policy covering the Building, or if Landlord's reasonable estimate of the cost of making such repairs exceeds the proceeds of such insurance by more than One Hundred Thousand Dollars ($100,000), Landlord may elect, upon notice to Tenant within thirty (30) days after the date of such fire or other casualty, to repair or restore such damage, in which event this Lease shall continue in full force and effect, but the Basic Rental shall be partially abated as provided in this Section 11.
1. If Landlord elects not to make such repairs, this Lease shall notify Tenant in writing within forty-five (45) days terminate as of the date of the damage that the damage will be restored (and will include such election by Landlord's good faith estimate .
11.2 A total destruction of the date the restoration will be complete), in which case Rent Building shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceautomatically terminate this Lease.
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Samples: Lease (Universal Standard Medical Laboratories Inc)
Destruction or Damage. (a) 22.01 If the Building or the Demised Premises are totally shall be partially damaged or partially destroyed by storm, fire, earthquake, fire or other casualtycause, or damaged the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date which is fourteen (14) days after the damage canfor which Landlord is responsible to repair or restore shall be repaired or restored in accordance with the provisions of Section 22.03 or when Tenant re-opens for business in the Demised Premises, if earlier. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage or destruction and until Landlord and/or the Condominium shall repair, restore and rebuild the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
22.02 If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not be restored the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty (20%) percent of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this lease by giving Tenant notice to such effect within one hundred eighty (180) days after the date of the date casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate this lease, by notice to Landlord, if Landlord provides Tenant written notice of Landlord's reasonable estimate and/or the Condominium has not completed the making of the time necessary to restore required repairs and the damage, or if restoration and rebuilding of the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of Demised Premises within nine (9) months from the date of such damage or destruction, or within such period after such date (not exceeding three (3) months) as shall equal the aggregate period Landlord may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord’s reasonable control.
22.03 If the Building or the Demised Premises shall be partially or totally damaged or destroyed by fire or other cause, then, whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this lease shall not have been terminated as in this Article provided), Landlord shall repair the damage by written and restore and rebuild the Building and/or the Demised Premises with reasonable dispatch after notice to it of the other on damage or before thirty (30) days following Landlord's notice described in destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant’s Property nor to restore any Tenant’s Work or Tenant’s Changes nor shall Landlord be required to make any repairs that are the next sentence and Rent shall be accounted for as between Landlord and Tenant as responsibility of that datethe Condominium. Landlord shall provide Tenant with notice within forty-five (45) days following use reasonable efforts to enforce the date obligations of the damage Condominium if the Condominium’s failure to carry out such obligations has a material adverse effect on Tenant’s use of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)Demised Premises.
(b) If the Premises are damaged 22.04 No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any such casualty repair or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days restoration of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Demised Premises which is not usable, and Landlord shall restore or of the Premises Building pursuant to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencethis Article.
Appears in 1 contract
Samples: Lease (American Realty Capital New York Recovery Reit Inc)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion opinion, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or the cost to repair the subject damage exceeds twenty-five percent (25%) of the replacement value of the Building, or if the damage is not covered by standard "“all risks" ” property insurance, or if the Landlord’s lender requires that the insurance and as a result proceeds be applied to its loan, then Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice delivered to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence above and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (aSection 23(a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five no later than sixty (4560) days of after the date of the such damage that the such damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usableusable for the period of such untenantability, and Landlord shall promptly commence to diligently restore the Premises to substantially the same condition as before the such damage occurred as soon as practicable.
(c) If such substantial damage occurs within the last twelve (12) months of the Term, whereupon full either party shall have the right, upon delivery of notice to the other party within thirty (30) days following such damage, to cancel and terminate this Lease as of the date of such damage, provided, however, that Tenant may not elect to terminate this Lease if such damage was caused by the intentional act of Tenant, its agents, servants, employees or invitees.
(d) Tenant agrees that Landlord’s obligation to restore, and the abatement of Rent provided herein, or Tenant’s right to terminate as above set forth in this Section 23, shall recommencebe Tenant’s sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises, the Building or Property. Notwithstanding anything to the contrary set forth in this Lease, Landlord shall have no obligation to repair damage to any alterations, improvements, or additions performed by Tenant.
(e) The provisions of this Lease, including this Section 23, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building or the Property, and any law with respect to any rights or obligations concerning damage or destruction, now or hereafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Property.
Appears in 1 contract
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's reasonable opinion opinion, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or then Tenant and Landlord shall each have the right to terminate this Lease. Further, if the such damage is not covered by standard "all risks" property insurance, or if the Landlord's lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease Lease. In either case, such termination shall be effective as of the date of such destruction or damage damage, by written notice delivered to the other party on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with written notice within forty-five no later than sixty (4560) days following the date of the such damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord's lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party Tenant nor Landlord is entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five no later than sixty (4560) days of after the date of the such damage that the such damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usableusable for the period of such untenantability, and Landlord shall promptly commence to diligently restore the Premises to substantially the same condition as before the such damage occurred as soon as practicable, whereupon full Rent shall recommence. Notwithstanding any contrary expression or implication in the foregoing or anywhere else in this Lease, Landlord shall have no obligation whatsoever to repair or replace any alterations made to the Premises by Tenant pursuant to Section 21 above unless or only to the extent that Tenant provides Landlord with all funds necessary to repair or replace any such alterations prior to such repair or replacement.
(c) If material damage occurs within the last twelve (12) months of the Term, either party shall have the right, upon delivery of written notice to the other party within thirty (30) days following such damage, to cancel and terminate this Lease as of the date of such damage, provided, however, that Tenant may not elect to terminate this Lease if such damage was caused by the intentional act of Tenant, its agents, servants, employees or invitees, and Landlord may not elect to terminate this Lease if such damage was caused by the intentional act of Landlord, its agents, servants, employees or invitees.
(d) Tenant agrees that Landlord's obligation to restore, and the abatement of Rent provided herein, or Tenant's right to terminate as above set forth in this Section 23, shall be Tenant's sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. If prior to any such election to terminate Tenant has elected to extend the Term pursuant to the provisions of this Lease and such election may not then according to its terms be rescinded or terminated, then for purposes of this Section 23 the Term shall be deemed to expire on such extended date.
Appears in 1 contract
Samples: Industrial Lease Agreement (Altigen Communications Inc)
Destruction or Damage. (a) a. If the Building Premises or the Premises are totally destroyed portion of the Building necessary for Tenant’s occupancy is damaged by storm, fire, earthquake, act of God, the elements or other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Article, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion the damage cannot ’s opinion, be restored completed within one hundred eighty (18090) days of the date ninety days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty determines that repairs can be completed within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect, except that if such damage is not the result of negligence or willful misconduct of Tenant or Tenant’s agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant’s use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord shall notify under Section 19d.
b. If in Landlord’s opinion, such repairs to the Premises or portion of the Building necessary for Tenant’s occupancy cannot be completed within ninety (90) days, Landlord may elect, upon notice to Tenant in writing given within forty-five thirty (4530) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19a. Landlord will be given ninety (90) days to determine whether Landlord will elect to repair or terminate. If Landlord does not so elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
c. If any other portion of the damage Building or Project is totally destroyed or damaged to the extent that in Landlord’s opinion repair thereof cannot be completed within ninety (90) days, Landlord may elect upon notice to Tenant given within thirty (30) days after the damage will date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be restored (and will include Landlord's good faith estimate partially abated as provided in Section 19a. If Landlord does not elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
d. If the Premises are to be repaired under this Article, Landlord shall repair at its cost any injury or damage to the Building and Building Standard Work in the Premises. Tenant shall be responsible at its sole cost and expense for the repair, restoration will and replacement of any other Leasehold Improvements and Tenant’s Property. Landlord shall not be complete)liable for any loss of business, in which case Rent shall xxxxx as to inconvenience or annoyance arising from any repair or restoration of any portion of the Premises which is not usablePremises, Building or Project as a result of any damage from fire or other casualty.
e. This lease shall be considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord and Tenant in such circumstances in the absence of express agreement, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application.
Appears in 1 contract
Samples: Office Building Lease (Unify Corp)
Destruction or Damage. (a) Tenant shall promptly notify Landlord of any material damage to the Premises resulting from fire or any other casualty. If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion opinion, the damage cannot be restored within one two hundred eighty seventy (180270) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss – Special Form property insurance, or if the Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord’s lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Building or the Premises are damaged to the extent that, in Landlord’s reasonable opinion, the damage cannot be restored within two hundred seventy (270) days of the date Landlord provides Tenant written notice of Landlord’s reasonable estimate of the time necessary to restore the damage, Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to Landlord on or before thirty (30) days following Landlord’s notice described in the last sentence of subsection (a) above and Rent shall be accounted for as between Landlord and Tenant as of that date.
(c) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, and Tenant does not terminate this Lease as provided in subparagraph (b) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
(d) Notwithstanding anything to the contrary contained herein, Landlord shall have no obligation to restore any item that is Tenant’s responsibility to insure under Section 22 hereof, regardless of whether Tenant insures same, undertakes self insurance with respect to same or fails to maintain insurance with respect to same; Tenant shall bear the responsibility for prompt restoration of all such items.
Appears in 1 contract
Destruction or Damage. (a) a. If the Building Premises or the Premises are totally destroyed portion of the Building necessary for Tenant's occupancy is damaged by storm, fire, earthquake, act of God, the elements or other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Article, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion the damage cannot opinion, be restored completed within one hundred eighty ninety (18090) days of the date days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty determines that repairs can be completed within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect, except that if such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant's use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord shall notify Tenant under Section 19(d).
b. If in writing Landlord's opinion, such repairs to the Premises or portion of the Building necessary for Xxxxxx's occupancy cannot be completed within forty-five ninety (4590) days. Landlord may eject, upon notice to Tenant, given within thirty (30) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19(a). If Landlord does not so elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
c. If any other portion of the damage Building or Project is totally destroyed or damaged to the extent that the damage will be restored (and will include in Landlord's good faith estimate opinion repair thereof cannot be completed within ninety (90) days. Landlord may elect upon notice to Tenant given within thirty (30) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19(a). If Landlord does not elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
d. If the Premises are to be repaired under this Article, Landlord shall repair at its cost any injury or damage to the Building and Building Standard Work in the Premises. Tenant shall be responsible at its sole cost and expense for the repair, restoration will and replacement of any other Leasehold Improvements and Tenant's Property. Landlord shall not be complete)liable for any loss of business, in which case Rent shall xxxxx as to inconvenience or annoyance arising from any repair or restoration of any portion of the Premises which is not usablePremises, Building or Project as a result of any damage from fire or other casualty.
e. This Lease shall be considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord and Tenant in such circumstances in the absence of express agreement, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application.
Appears in 1 contract
Samples: Sublease (Aurum Software Inc)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed is partially damaged by storm, fire, earthquake, or other casualtyAct of God, or damaged Landlord shall repair the same at Landlord's expense, subject to the extent thatprovisions of this Article and provided such repairs can, in Landlord's reasonable opinion opinion, be made within sixty (60) days. During such repairs, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant,Tenant1s employees, agents, or invitees, an abatement of Rents shall be allowed Tenant for such portion of Premises and period of time as the Premises was unusable by Tenant.
(b) If in Landlord's reasonable opinion the partially damaged Premises can be repaired, but not within sixty (60) days, the Landlord shall notify may elect, upon written notice to Tenant in writing within forty-five thirty (4530) days of such damages, to repair such damages over a longer time period and continue the date Lease in full force and effect, but with Rents partially abated as provided in Article 9(a). In the event such repairs cannot be made within sixty (60) days, Tenant shall have the option to terminate the Lease provided that written notice is given to Landlord within thirty (30) days of the damage that the damage will be restored (and will include receipt of Landlord's good faith estimate of notice stated in this paragraph.
(c) If the date the restoration will partially damaged Premises is to be complete)repaired under this Article, in which case Rent Landlord shall xxxxx as repair such damages to any portion of the Premises which is not usableitself, and to the Tenant Improvements supplied by Landlord herein. Except in the event of Landlord's gross negligence or willful misconduct, Tenant shall restore be responsible. for Tenant's equipment, furniture and fixtures, and other alterations, additions and improvements made by Tenant to the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceand Building.
Appears in 1 contract
Samples: Commercial Lease (Bui Inc)
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or other casualtyits employees, agents or damaged visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises to substantially the condition thereof at the time of such damage, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property. Any restoration of the Building or the Demised Premises shall be altered to the extent thatnecessary to comply with current laws and applicable codes.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other cause not attributable to the fault or negligence of Tenant, in its agents, or employees, the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage shall be repaired or restored; provided, however, if the damage shall be attributable to the fault or negligence of Tenant, its agents or employees, then rent shall continue but shall be reduced by any amounts received by Landlord pursuant to Landlord's reasonable opinion coverage for business interruption and/or rent insurance attributable to the damage cannot Demised Premises. If the Demised Premises or a major part thereof shall be restored within one hundred eighty totally (180which shall be deemed to include substantially totally) days damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date of the damage or destruction and until Landlord provides shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period of restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire or other cause (whether or not the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within ninety (90) days after the date of the casualty. If the Building or the Demised Premises shall be destroyed by fire or other casualty so as to render the Demised Premises unusable by Tenant, Landlord shall deliver to Tenant, as soon as feasible, a written notice of estimate from Landlord's reasonable estimate contractor of the time within which substantial restoration of the Demised Premises (i.e., substantial completion of the Demised Premises or the portions thereof in which Landlord has an insurable interest) will occur. If said contractor reasonably estimates the time as more than six (6) months from the date Landlord receives all permits necessary to restore the damageDemised Premises, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before Landlord within thirty (30) days following Landlordof Tenant's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date receipt of the damage of the estimated time needed to restore, and whether the loss is covered by Landlordcontractor's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate written statement otherwise this Lease as provided in subparagraph (a) above, this Lease shall will remain in full force and effecteffect unless Landlord elects to demolish the Building. In case of any damage or destruction mentioned in this Article, Tenant may terminate the Lease by notice to Landlord, if Landlord shall notify Tenant in writing has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within forty-five eight (45) days of 8) months from the date of such damage or destruction, or within such period after such date (not exceeding three (3) months) as shall equal the damage that the damage will be restored (and will include aggregate period Landlord may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's good faith estimate reasonable control.
21.04. No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of the date the business, or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy during such time that Tenant is able to use the Demised Premises during Landlord's restoration.
21.05. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of some action or inaction on the part of Tenant or any of its employees, agents or contractors in connection with the processing of any claim, then, without prejudice to any other remedies which is may be available against Tenant, there shall be no abatement of Tenant's rents.
21.06. Landlord will not usablecarry insurance of any kind on Tenant's Property, and, except as provided by law or by reason of its fault or its breach of any of its obligations hereunder, shall not be obligated to repair any damage thereto or replace the same; to the extent that Tenant shall maintain insurance on Tenant's Property, Landlord shall not be obligated to repair any damage thereto or replace the same.
21.07. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and any law of the State of New Jersey providing for such a contingency in the absence of an express agreement, and any other law of like import, now of hereafter in force, shall have no application in such case.
21.08. If the Demised Premises and/or access thereto become partially or totally damaged or destroyed by any casualty not insured against, then Landlord shall restore have the Premises right to substantially terminate this Lease upon giving the same condition Tenant thirty (30) days notice and upon the expiration of said thirty (30) day notice period this Lease shall terminate as before if such termination date were the damage occurred as soon as practicable, whereupon full Rent shall recommenceExpiration Date.
Appears in 1 contract
Samples: Lease Agreement (I Many Inc)
Destruction or Damage. (a) If (i) the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, (ii) the Building or the Premises are damaged to the extent that, in Landlord's reasonable opinion that the damage cannot be restored within one three hundred eighty sixty five (180365) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if (iii) the damage is not covered by standard "all risks" the property insurance and as a result required to be carried by Landlord elects not pursuant to restore such damageParagraph 26(d) hereof, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice (“Landlord’s Termination Notice”) delivered to the other Tenant on or before thirty (30) days following Landlord's notice described in the next sentence ’s Insurance Notice (as hereinafter defined) and Rent shall be accounted for as between Landlord and Tenant as of that datethe date of said casualty; provided, however, if Landlord terminates this Lease pursuant to clause (iii) of this Paragraph 23(a), then Tenant at its option, by written notice to Landlord on or before thirty (30) days following Landlord’s Termination Notice, may pay the deficiency between the amount of insurance proceeds received by Landlord, if any, and the amount required to restore the Building and/or the Premises, as the case may be, to substantially the same condition as before such damage occurred, but specifically excluding the amount required to repair or restore those items which Tenant is obligated to insure under Section 26 of this Lease, which items remain Tenant’s obligation to repair or restore; in which event Landlord shall use such payment for restoration of the Building and/or the Premises, as the case may be, to substantially the same condition as before such damage occurred, specifically excluding the repair and restoration which are Tenant’s obligation as set forth above. Landlord shall provide Tenant with written notice within forty-five no later than sixty (4560) days following the date of the such damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects to restore“Landlord’s Insurance Notice”). LANDLORD SHALL OBTAIN AN AGREEMENT FROM ITS LENDER OR ANY OTHER PARTY ENTITLED TO LANDLORD’S PROPERTY INSURANCE PROCEEDS THAT THE TERMS AND CONDITIONS OF THIS SECTION SHALL GOVERN AND BE BINDING ON LENDER (OR ANY OTHER PARTY ENTITLED TO LANDLORD’S PROPERTY INSURANCE PROCEEDS) IN THE EVENT OF A CASUALTY.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five no later than sixty (4560) days of after the date of the such damage that the such damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usableusable for the period of such untenantability, and Landlord shall promptly commence to diligently restore the Premises to substantially the same condition as before the such damage occurred as soon as practicable, whereupon full Rent shall recommence; provided, however, if the Premises is not restored by Landlord to substantially the same condition as before such damage occurred within five hundred forty (540) days after the date of such damage, then Tenant shall have the right to terminate this Lease as of the date of such damage by giving written notice to Landlord within the thirty (30) day period after said five hundred forty (540) day period, but prior to substantial completion of repair or restoration.
(c) If such damage occurs within the last twelve (12) months of the Term, either party shall have the right, upon delivery of written notice to the other party within thirty (30) days following such damage, to cancel and terminate this Lease as of the date of such damage, provided, however, that Tenant may not elect to terminate this Lease if such damage was caused by the intentional act of Tenant, its agents, servants, employees or invitees.
(d) Tenant agrees that Landlord’s obligation to restore, and the abatement of Rent provided herein, or Tenant’s right to terminate as above set forth in this Section 23, shall be Tenant’s sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. If prior to any such election to terminate Tenant has elected to extend the Term pursuant to the provisions of this Lease and such election may not then according to its terms be rescinded or terminated, then for purposes of this Section 23 the Term shall be deemed to expire on such extended date.
Appears in 1 contract
Samples: Industrial Lease Agreement (Elevance Renewable Sciences, Inc.)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss—Special Form property insurance, or if the Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty sixty (3060) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord’s lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord or Tenant is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five ninety (4590) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
(c) Notwithstanding anything to the contrary herein, Rent shall be abated on any part or all of the Premises which is not usable by Tenant as a result of any such casualty or casualties from the date thereof until restoration as described above.
Appears in 1 contract
Destruction or Damage. (a) 21.01. If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the Tenant's Property.
21.02. If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other casualtycause not attributable to the fault or negligence of Tenant, its agents, or damaged employees, the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage cannot shall be restored within one hundred eighty repaired or restored. If the Demised Premises or a major part thereof shall be totally (180which shall be deemed to include substantially totally) days damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall xxxxx as of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises for the ordinary conduct of its work during the period of restoration work is taking place and prior to restore the damagedate that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
21.03. If the Building shall be totally damaged or destroyed by fire or other cause, or if the damage is Building shall be so damaged or destroyed by fire or other cause (whether or not covered by standard "all risks" property insurance the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five percent (25%) of the full insurable value of the Building immediately prior to the casualty, and as a result Landlord elects to terminate all other leases, then in either such case Landlord may terminate this Lease by giving Tenant notice to such effect within sixty (60) days after the date of the casualty. In case of any damage or destruction mentioned in this Article, Tenant may terminate the Lease by notice to Landlord, if Landlord has not to restore completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within twelve (12) months from the date of such damage or destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's reasonable control. In connection with any damage, Landlord or pursuant to this Section 21.03, if the Building is damaged during the last two (2) years of the term, then Tenant shall have the right to terminate may cancel this Lease effective as of the date of such destruction or damage the casualty by written notice to the other on or before notifying Landlord within thirty (30) days following Landlord's notice described in of the next sentence and Rent casualty.
21.04. No damages, compensation, or claim shall be accounted payable by Landlord for as between Landlord and Tenant as inconvenience, loss of that datebusiness; or annoyance arising from any repair or restoration of any portion 2 of the Demised Premises or of the Building pursuant to this Article. Landlord shall provide use its best efforts to effect such repair or restoration promptly and in such manner as not unreasonably to interfere with Tenant's use and occupancy during such time that Tenant with notice within forty-five (45) days following is able to use the date of the damage of the estimated time needed to restore, and whether the loss is covered by Demised Premises during Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)restoration.
(b) If the Premises are damaged by 21.05. Landlord will not carry insurance of any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease kind on Tenant's Property, and, except as provided in subparagraph (a) aboveby law or by reason of its fault or its breach of any of its obligations hereunder, this Lease shall remain in full force and effectnot be obligated to repair any damage thereto or replace the same; to the extent that Tenant shall maintain insurance on Tenant's Property, Landlord shall notify Tenant in writing within forty-five (45) days of not be obligated to repair any damage thereto or replace the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencesame.
Appears in 1 contract
Samples: Sublease Agreement (I Many Inc)
Destruction or Damage. (a) a. If the Building Premises or the Premises are totally destroyed portion of the Building necessary for Tenant's occupancy is damaged by storm, fire, earthquake, or act of God, the elements of other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Article, promptly repair the damage, If such repairs can, in Landlord's reasonable opinion the damage cannot opinion, be restored completed within one hundred eighty (180) days of the date days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty determines that repairs can be completed within one hundred eighty (30180) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect, Landlord except that if such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees, contractors, licensees or invitees, the Base Rent shall notify Tenant in writing within forty-five (45) days be abated to the extent Tenant's use of the Premises is impaired, commencing with the date of the damage that the damage will be restored (and will include Landlord's good faith estimate continuing until completion of the date repairs required of Landlord under Section 19d.
b. See Addendum One - Additional Provisions.
c. See Addendum One - Additional Provisions.
d. If the Premises are to be repaired under this Article, Landlord shall repair at its cost any injury or damage to the Building and Building Standard Work in the Premises. Tenant shall be responsible at its sole cost and expense for the repair, restoration will and replacement of any other Leasehold Improvements and Tenant's Property. Landlord shall not be complete)liable for any loss of business, in which case Rent shall xxxxx as to inconvenience or annoyance arising from any repair or restoration of any portion of the Premises which is not usablePremises, Building or Project as a result of any damage from fire or other casualty.
e. This Lease shall be considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord and Tenant in such circumstances in the absence of express agreement, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application.
Appears in 1 contract
Samples: Lease Agreement (Air Methods Corp)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of at the date Landlord provides Tenant written notice nose of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance, or if the Landlord's lender, if any, requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damagethe loan secured by the Property, Landlord or and Tenant shall each have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that datethe date of such destruction or damage. Landlord shall provide Tenant with notice within forty-forty five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by or not Landlord's lender requires the insurance coverage (and if notproceeds be applied to its loan should either Landlord or Tenant elect to terminate this Lease pursuant to this provision, whether Landlord nevertheless elects all insurance proceeds shall be payable to restore)Landlord, except such amounts as may be due for losses exclusively insured for Tenant.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord or Tenant is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx abate as to any portion of the Premises which is not usable, and Landlord Laxxxxxd shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Samples: Lease Agreement (Odimo INC)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed is partially damaged by storm, fire, earthquake, or other casualtyAct of God, or damaged Landlord shall repair the same at Landlord's expense, subject to the extent thatprovisions of this Article and provided such repairs can, in Landlord's reasonable opinion opinion, be made within sixty (60) days. During such repairs, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant, Tenant's employees, agents, or invitees, an abatement of Rents shall be allowed Tenant for such portion of Premises and period of time as the Premises was unusable by Tenant.
(b) If in Landlord's reasonable opinion the partially damaged Premises can be repaired, but not within sixty (60) days, the Landlord shall notify may elect, upon written notice to Tenant in writing within forty-five thirty (4530) days of such damages, to repair such damages over a longer time period and continue the date Lease in full force and effect, but with Rents partially abated as provided in Article 11 (a). In the event such repairs cannot be made within sixty (60) days, Tenant shall have the option to terminate the Lease provided that written notice is given to Landlord within thirty (30) days of the damage that the damage will be restored (and will include receipt of Landlord's good faith estimate of notice stated in this paragraph.
(c) If the date the restoration will partially damaged Premises is to be complete)repaired under this Article, in which case Rent Landlord shall xxxxx as repair such damages to any portion of the Premises which is not usableitself, and to the Tenant Improvements supplied by Landlord herein. Except in the event of Landlord's gross negligence or willful misconduct, Tenant shall restore be responsible for Tenant's equipment, furniture and fixtures, and other alterations, additions and improvements made by Tenant to the Premises to and Building.
(d) If in Landlord's reasonable opinion, the Premises is totally or substantially destroyed by fire or other casualty, the same condition as before the damage occurred as soon as practicable, whereupon full Rent Lease shall recommenceterminate upon notice by Landlord.
Appears in 1 contract
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "“all risks" ” property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, Landlord shall refund to Tenant the abated portion of the Rent, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Samples: Lease Agreement (Ndchealth Corp)
Destruction or Damage. (a) If the Building or the Premises are (i) totally destroyed by storm, fire, earthquake, or other casualty, (ii) damaged or destroyed by any casualty to the extent that in Landlord's reasonable judgment, repair of such damage or destruction would not be economically feasible, or (iii) damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damagedamage occurred, or if the damage is not covered by standard "all risks" property insurance, or if the Landlord's lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty sixty (3060) days following Landlord's notice described in the next sentence date of such damage and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of such casualty. Under no circumstances shall Landlord be liable to Tenant for inconvenience, annoyance, loss of profits, expenses or any other type of injury or damage resulting from the repair of any such damage or from any repair, modification, arranging or rearranging of any portion of the estimated time needed Premises or any part or all of the Building or for termination of the Lease as provided above. Tenant assumes the risk of any and all damage to restore, its personal property in or on the Premises and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) from any casualty whatsoever. If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx abatx xxxm the date of such casualty as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Destruction or Damage. (a) If the Building or the Premises are totally destroyed is partially damaged by storm, fire, earthquake, or other casualtyAct of God, or damaged Landlord shall repair the same at Landlord's expense, subject to the extent thatprovisions of this Article and provided such repairs can, in Landlord's reasonable opinion opinion, be made within sixty (60) days. During such repairs, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant, Tenant's employees, agents, or invitees, an abatement of Rents shall be allowed Tenant for such portion of Premises and period of time as the Premises was unusable by Tenant.
(b) If in Landlord's reasonable opinion the partially damaged Premises can be repaired, but not within sixty (60) days, the Landlord shall notify may elect, upon written notice to Tenant in writing within forty-five thirty (4530) days of such damages, to repair such damages over a longer time period and continue the date Lease in full force and effect, but with Rents partially abated as provided in Article 9(a). In the event such repairs cannot be made within sixty (60) days, Tenant shall have the option to terminate the Lease provided that written notice is given to Landlord within thirty (30) days of the damage that the damage will be restored (and will include receipt of Landlord's good faith estimate of notice stated in this paragraph.
(c) If the date the restoration will partially damaged Premises is to be complete)repaired under this Article, in which case Rent Landlord shall xxxxx as repair such damages to any portion of the Premises which is not usableitself, and to the Tenant Improvements supplied by Landlord herein. Except in the event of Landlord's gross negligence or willful misconduct, Tenant shall restore be responsible for Tenant's equipment, furniture and fixtures, and other alterations, additions and improvements made by Tenant to the Premises to and Building.
(d) If in Landlord's reasonable opinion, the Premises is totally or substantially destroyed by fire or other casualty, the same condition as before the damage occurred as soon as practicable, whereupon full Rent Lease shall recommenceterminate upon notice by Landlord.
Appears in 1 contract
Destruction or Damage. (a) 20.01 If the Building or the Demised Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, firethen, earthquakewhether or not the damage or destruction shall have re- sulted from the fault or neglect of Tenant, or other casualtyits employees, agents or damaged to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage visitors (and if not, whether Landlord nevertheless elects to restorethis lease shall not have been terminated as in this Article hereinafter provided).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of repair the damage that and restore and rebuild the damage will be restored (and will include Landlord's good faith estimate of Building and/or the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Demised Premises to substantially the same condition as before existed prior to the damage, at its expense, with reasonable dispatch after notice to it of the damage occurred or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property nor to restore any of Tenant's initial installations in and to the Demised Premises.
20.02 If the Building or the Demised Premises shall be partially damaged or partially destroyed by fire or other cause, the rents payable hereunder shall be abated to the extent that the Demised Premises shall have been rendered untenantable and for the period from the date of such damage or destruction to the date the damage shall be repaired or restored. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable on account of fire or other cause, the rents shall abatx xx of the date of the damage or destruction and until Landlord shall repair, restore and rebuild the Building and the Demised Premises, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
20.03 If the Building or the Demised Premises shall be totally damaged or destroyed by fire or other cause, or if the Building shall be damaged or destroyed by fire or other cause (whether or not the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than fifty (50%) percent of the full insurable value of the Building immediately prior to the casualty, then in either such case Landlord may terminate this lease by giving Tenant notice to such effect within sixty (60) days after the date of the casualty. In case of any damage or destruction mentioned in this Section 20.03 Tenant may terminate this lease, by notice to Landlord, if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises within twelve (12) months from the date of such damage or destruction, or within such period after such date (not exceeding six (6) months) as shall equal the aggregate period Landlord may have been delayed in doing so by adjustment of insurance, labor trouble, governmental controls, act of God, or any other cause beyond Landlord's reasonable control. Additionally, Landlord shall, as soon as reasonably practicable, whereupon full Rent obtain an estimate of the time required to complete the repair or restoration and promptly notify Tenant of such estimated time. Tenant may terminate this lease, by notice to Landlord, if the estimated time to complete such repair or restoration exceeds nine (9) months.
20.04 No damages, compensation or claim shall recommencebe payable by Landlord for inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Demised Premises or of the Building pursuant to this Article.
20.05 Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, by reason of Tenant's refusal or failure to cooperate with Landlord and/or its agents or employees in connection with the settlement of Landlord's insurance claim (other than any failure or refusal so to cooperate arising directly out of Tenant's acts or omissions to act in its capacity, if any, as counsel to Landlord's insurance carrier) then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant's rents, but the total amount of such rents not abated (which would otherwise have been abated) shall not exceed the amount of the uncollected insurance proceeds.
20.06 Landlord will not carry insurance of any kind on Tenant's Property and shall not be obligated to repair any damage thereto or replace the same.
20.07 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and any code or statute providing for a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall have no application in such case.
Appears in 1 contract
Samples: Lease (Novadigm Inc)
Destruction or Damage. (a) If 19.1. In the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's reasonable opinion the event of damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days destruction of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any all or a portion of the Premises which Facility and if, in the opinion of the Tenant, acting reasonably, it is not usablefeasible to do so, the Tenant shall immediately notify the City and Landlord shall diligently proceed at its own cost and expense to replace the damaged or destroyed Facility and other improvements or restore the Premises Facility or the portion of the Facility which has been damaged or destroyed to substantially the same condition as before prevailed immediately prior to the occurrence of such damage occurred or destruction. In such event, the Tenant shall cause all insurance monies received by virtue of the insurance specified in Article 18 of this Lease to be immediately paid out in rebuilding the Facility and other improvements to the Site. If the rebuilding or restoration is not, in the opinion of the Tenant, acting reasonably, feasible or shall be frustrated, then in such case, such insurance monies shall be applied firstly, in payment of all arrears of the Rent payable pursuant to this Lease and other monies due to the City under this Lease and in reimbursement to the City for all costs incurred in the demolition and removal of the damaged or destroyed Facility and other improvements, and restoration of the Site as soon nearly as practicablemay be possible into the condition in which the Site stood as at the Commencement Date and the balance if any, whereupon full may be retained by the Tenant.
19.2. If within six (6) months of the happening of any damage or destruction the Tenant does not give the City written notice of its intention to rebuild and restore the Facility or portion thereof which has been destroyed, demolished or rendered unusable in a manner and in accordance with a standard which shall meet the satisfaction of the City, acting reasonably, and further, if the Tenant does not actually fulfill its stated intention through to completion to the City’s satisfaction within such reasonable time thereafter as the City may allow, then the remaining portion of the Term shall at the City’s option, become forfeited and determined, and it shall be lawful for the City at any time thereafter to enter on the Site as of its former estate and in such event, the insurance monies received by virtue of the insurance specified in Article 18 of this Lease shall be applied firstly, in payment of all arrears of the Rent payable pursuant to this Lease and other monies due to the City under this Lease and in reimbursement to the City for all costs incurred in the restoration of the Site (including the Facility and other improvements) as nearly as may be possible into the condition in which it stood as at the Commencement Date and the balance, if any, shall recommencebe retained by the Tenant.
Appears in 1 contract
Samples: Biofuels Facility Operating Agreement (Enerkem Inc.)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss—Special Form property insurance, or if the Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, the estimated percentage of damage to the Building and to the Premises, whether the loss is covered by Landlord's ’s insurance coverage and whether or not Landlord’s lender requires the insurance proceeds be applied to its loan. If more than fifty percent (and if not50.0%) of the Building or the Premises is destroyed by such casualty, whether Tenant shall have the right to terminate this lease by delivering written notice to Landlord nevertheless elects within ten (10) business days following the date of Landlord’s notice to restore)Tenant.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Destruction or Damage. (aA) If If, during the Building Term of this Lease or any extension thereto, the Premises are totally destroyed is damaged by storm, fire, earthquake, fire or any other casualty, including, without limitation, natural disaster, and not occurring through the intentional or negligent acts or omissions of Tenant or those claiming under Tenant, or their employees respectively, Tenant shall promptly notify Landlord and Landlord shall repair the damaged to portions of the extent thatPremises, including any improvements or alterations made by Landlord (but not any of Tenant’s property therein or improvements or alterations made by Tenant). If, however, in Landlord's ’s reasonable opinion judgment, the damage canwould require more than _______ days (120 if not be restored within one hundred eighty (180specified) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary work to restore the damagerepair, or if the damage is not covered by standard "all risks" property insurance and as a result proceeds (excluding rent insurance) that Landlord elects not anticipates receiving must be applied to restore repay any mortgages encumbering the improvements, or are otherwise inadequate to pay the costs of such damagerepair, Landlord or Tenant shall have the right to terminate this Lease effective as of by so notifying Tenant. Such notice shall specify a termination date not less than _______ days (30 if not specified) after its receipt by Tenant.
(B) If the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in Premises is only partial and such that the next sentence Premises can be restored to its former condition within a reasonable time, Landlord may enter and repair, and this Lease shall not be affected, except that Base Rent shall be accounted apportioned and suspended while such repairs are being made. If the Premises is so slightly damaged by fire or other casualty as mentioned above so as not to render the Premises unfit for as between occupancy, Landlord and Tenant as of that date. Landlord agrees the same shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)be promptly repaired.
(bC) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days not be liable for any damage, compensation or claim by reason of inconvenience or annoyance from the date necessity of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to repairing any portion of the Premises which is not usablePremises, or improvements thereon, the interruption and Landlord shall restore the Premises to substantially use of the same condition as before Premises, or the damage occurred as soon as practicable, whereupon full Rent shall recommencetermination of this Lease by reason of the destruction of the Premises.
Appears in 1 contract
Destruction or Damage. (a) 20.01. If the Building Buildings or the Premises are shall be partially or totally damaged or destroyed by stormfire or other cause, fire, earthquakethen whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or other its employees, agents or visitors (and if this Lease shall not have been terminated as in this Article hereinafter provided), Tenant shall promptly and with reasonable diligence repair the damage and restore and rebuild the Buildings and/or the Premises to the same or better condition as existed prior to such casualty, at its expense, with reasonable dispatch after notice to it of the damage or damaged destruction. Landlord shall not be required to repair or replace any of Tenant’s Property. Notwithstanding anything contained herein to the extent thatcontrary, in Landlord's reasonable opinion no event shall either party be relieved of liability or responsibility for damage or destruction resulting from the damage cannot be restored within one hundred eighty (180) days fault or neglect of the date Landlord provides Tenant written notice of Landlord's reasonable estimate other if the insurance policies carried by the party at fault or negligent on the Buildings do not contain a waiver of the time necessary to restore right of subrogation.
20.02. If any Buildings or the damagePremises shall be totally damaged or destroyed by fire or other cause, or if the damage is not covered Buildings shall be so damaged or destroyed by standard "all risks" property insurance and fire or other cause as to require a result reasonably estimated expenditure of more than 50% of the full insurable value of the Buildings immediately prior to the casualty, then in either such case Landlord elects not to restore such damage, Landlord or Tenant shall have the right to may terminate this Lease effective as by giving Tenant notice to such effect within the earlier of (a) one hundred fifty (150) days after the date of such destruction the casualty, or damage by written notice to the other on or before thirty (30b) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following after Landlord’s settlement of any insurance claim. In case of any damage or destruction mentioned in this Article, and where the Landlord has not theretofore terminated this Lease, Tenant may terminate this Lease by notice to Landlord, if there are two (2) years or less remaining on Tenant’s Initial Term at the time of the damage or destruction; and such termination shall be effective upon the expiration of thirty (30) days after the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)such notice.
(b) If the Premises are damaged 20.03. No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any such casualty repair or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days restoration of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises or of the Buildings pursuant to this Article.
20.04. Notwithstanding any of the foregoing provisions of this Article, if Landlord or the Landlord of any lease or the holder of any mortgage superior to this Lease shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to the damage or destruction of the Premises or the Buildings by fire or other cause that occurs by reason of some negligence or willful misconduct on the part of Tenant or any of its employees, agents or contractors, then, without prejudice to any other remedies which is may be available against Tenant, there shall be no abatement of Tenant’s rents until the total amount of such rents not usableabated which would otherwise have been abated equals the amount of uncollected insurance proceeds.
20.05. Landlord shall not be obligated to repair any damage of any kind to Tenant’s Property or replace the same.
20.06. In the event of the termination of this Lease pursuant to any of the provisions of this Article, this Lease and the Term and estate hereby granted shall expire as of the date of such termination with the same effect as if that were the Expiration Date, and Landlord the Fixed Rent and additional rent payable hereunder shall restore be apportioned as of such date.
20.07. The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Premises by fire or other casualty, and Section 227 of the Real Property Law of the State of Texas, providing for a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall have no application to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencePremises and this Lease.
Appears in 1 contract
Samples: Lease (Bitdeer Technologies Group)
Destruction or Damage. (a) If the Building Property or the Premises or any part thereof are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion opinion, the damage cannot be restored repaired within one hundred eighty twenty (180120) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore repair the damage, or if the damage is not covered by standard "“all risks" ” property insurance, or if the Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice delivered to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with written notice within forty-five no later than sixty (4560) days following the date of the such damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord’s lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Property or the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five no later than sixty (4560) days of after the date of the such damage that the such damage will be restored repaired (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usableusable for the period of such untenantability, and Landlord shall promptly commence to diligently restore the Property and/or the Premises to substantially the same condition as before the such damage occurred as soon as practicable, whereupon full Rent shall recommence.
(c) If during the last twelve (12) months of the Term the Property or the Premises or any part thereof are destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord’s reasonable opinion, the damage cannot be repaired within sixty (60) days of the date Landlord provides Tenant written notice of Landlord’s reasonable estimate of the time necessary to repair the damage, then either party shall have the right, upon delivery of written notice to the other party within thirty (30) days following such damage, to cancel and terminate this Lease as of the date of such damage, provided, however, that Tenant may not elect to terminate this Lease if such damage was caused by the intentional act of Tenant, its agents, servants, employees or invitees.
(d) Tenant agrees that Landlord’s obligation to restore, and the abatement of Rent provided herein, or Tenant’s right to terminate as above set forth in this Section 23, shall be Tenant’s sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property, including, without limitation, any rights under Sections 1932 and 1933 of the California Civil Code. If prior to any such election to terminate Tenant has elected to extend the Term pursuant to the provisions of this Lease and such election may not then according to its terms be rescinded or terminated, then for purposes of this Section 23 the Term shall be deemed to expire on such extended date.
(e) Notwithstanding anything contained in this Section 23 to the contrary, Landlord shall not be entitled to exercise any termination right provided to it hereinabove unless Landlord also terminates all other leases within the Property that are similarly affected by the casualty in question.
Appears in 1 contract
Destruction or Damage. (a) If the Building or the Premises are totally destroyed is partially damaged by storm, fire, earthquake, fire or other insured casualty:
(1) Landlord shall repair the same at Landlord's expense, or damaged subject to the extent thatprovisions of this Section and provided such repairs can, in Landlord's reasonable opinion, be made within ninety (90) days after the fire or casualty. During such repairs, the Lease shall remain in full force and effect.
(2) If in Landlord's reasonable opinion the damage canpartially damaged Premises can be repaired, but not be restored within ninety (90) days, the Landlord may elect, upon written notice to Tenant within thirty (30) days (the "Notice Date") of such damages, to repair such damages within one hundred eighty (180) days after commencement of repair and continue the Lease in full force and effect, but with Rents partially abated from the notice date until the completion of repair to the extent of the date Landlord provides Tenant written notice value of Landlord's reasonable estimate that portion of the time necessary to restore Premises of whose use the damage, or if Tenant is deprived during the damage is period of such repair. In the event such repairs cannot covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damagebe made within one hundred eighty (180) days, Landlord or Tenant shall have the right to terminate may cancel this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty the Notice Date. If Landlord fails to elect to repair or to cancel, Landlord will repair the Premises and rent will xxxxx in the same manner as provided above as though Landlord had elected to repair.
(303) days following If the partially damaged Premises is to be repaired under this Section, Landlord shall repair such damages to the Premises itself, and to the Tenant Improvements supplied by Landlord herein. Except in the event of damage resulting from Landlord's notice described in the next sentence and Rent gross negligence or willful misconduct, Tenant shall be accounted responsible for as between Landlord Tenant's equipment, furniture and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restorefixtures, and whether other alterations, additions and improvements made by Tenant to the loss is covered by Landlord's insurance coverage (Premises and if not, whether Landlord nevertheless elects to restore)Building.
(b) If in Landlord's reasonable opinion, the Premises are damaged is totally or substantially destroyed by any such fire or other casualty and cannot be repaired or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph replaced within one hundred eighty (a180) abovedays, this the Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include terminate upon notice by Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Destruction or Damage. (a) 19.1. If the Building or the Demised Premises are totally shall be damaged or destroyed by storm, fire, earthquake, fire or other casualty, and this Lease shall not have been terminated as provided in Paragraph 19.3., Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at his expense, with reasonable dispatch after notice to it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property or any alteration or leasehold improvements made by Tenant.
19.2. If the Demised Premises shall be partially damaged or partially destroyed by fire or other casualty, the rents payable hereunder shall be abated to the extent that, in Landlord's reasonable opinion that the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant Demised Premises shall have been rendered untenantable and for the right to terminate this Lease effective as of period from the date of such damage or destruction to the date the damage shall be repaired or damage restored.
19.3. If the Building or the Demised Premises shall be substantially damaged or destroyed by written fire or other casualty, then in either such case, Landlord may terminate this Lease by giving Tenant notice to the other on or before thirty such effect within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following after the date of the damage casualty, which notice shall be given as in this Lease provided, and thereupon the term of this Lease shall expire by lapse of time upon the thirtieth (30th) day after notice is given and Tenant shall vacate the Demised Premises and surrender the same to Landlord. The Demised Premises and/or Building (whether or not the Demised Premises are damaged), shall be deemed substantially damaged or destroyed if Landlord is required by expend thirty (30%) percent or more of the estimated time needed to restore, and whether full replacement value of (a) the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
Building or (b) If the Premises are damaged by any such casualty thirty (30%) percent or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days more of the date full replacement value of the Demised Premises immediately prior to such damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencedestruction.
Appears in 1 contract
Destruction or Damage. (a) If In the Building event of a fire or other casualty in the Premises are totally destroyed by stormPremises, Tenant shall immediately give notice thereof to Landlord. The following provisions shall apply to fire, earthquake, act of God, the elements or other casualty, or damaged to casualty occurring in the extent that, in Landlord's reasonable opinion Premises and/or the damage cannot be restored within one hundred eighty Building: (180a) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore improvements to the Premises that Tenant is required to insure pursuant to Section 12.2 of the Lease, Tenant, at its cost, shall promptly repair such damage; (b) if: (i) Subsection 13(a) does not apply, (ii) the damage is limited solely to the Premises, and (iii) Landlord determines that the Premises can be made tenantable with all damage substantially repaired within nine (9) months from the date of damage or destruction, then Landlord shall be obligated to repair and restore the Premises and shall proceed diligently to do so; provided, however, that Landlord shall have no obligation to repair or restore the Premises except to the extent that Landlord realizes insurance proceeds, if any, sufficient for such purposes and for all other restoration and repair purposes; (c) if a portion of the Building outside the boundaries of the Premises are damaged or destroyed (whether or not the Premises are also damaged or destroyed) and Landlord determines that the Premises and the Building can both be made tenantable with all damage substantially repaired within nine (9) months from the date of damage or destruction, and provided that sufficient insurance proceeds are available to Landlord to complete all repair and restoration obligations, then Landlord shall be obligated to repair and restore the Building and Premises; (d) if more than fifty percent (50%) of the Building is damaged and restoration is not required to be undertaken pursuant to Subsections 13(a), 13(b), or 13(c), Landlord or shall notify Tenant shall have the right to terminate this Lease effective as of within sixty (60) days after the date of such damage or destruction and either Tenant or damage by written notice to the other on or before Landlord may terminate this Lease within thirty (30) days following after the date of such notice, (e) during any period when Tenant’s use of the Premises is significantly affected by damage or destruction, rent shall xxxxx proportionately, as reasonably determined by Landlord's notice described in , until such time as the next sentence Premises are made tenantable, and Rent no portion of the rent so abated shall be accounted subject to subsequent recapture; provided that there shall be no such abatement except to the extent that the amount thereof is compensated for as between and recoverable from the proceeds of rental abatement or business interruption insurance maintained by Landlord with respect to this Lease, the Premises or the Building, and (f) the proceeds from any insurance paid by reason of damage to or destruction of the Building or any part thereof, insured by Landlord, shall belong to and be paid to Landlord subject to the rights of any beneficiary of any deed of trust that constitutes an encumbrance. If Landlord undertakes restoration pursuant to Subsection 13(d) or 13(e), the proceeds from any property insurance maintained by Tenant as of that datecovering the Premises shall be paid to Landlord. Landlord shall provide Tenant with notice within forty-five (45) days following apply such insurance proceeds to the date repair and restoration of Tenant’s Alterations and improvements in the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)Premises.
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
Appears in 1 contract
Samples: Building Lease (Zulily, Inc.)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion opinion, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, damage or if the damage is not covered by standard "all risks" property Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, then either Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice delivered to the other on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with written notice within forty-five no later than sixty (4560) days following the date of the such damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage and whether or not Landlord’s lender requires the insurance proceeds be applied to its loan. Notwithstanding the foregoing, Landlord shall not have the right to terminate the Lease if: (a) the damage can be restored in less than 180 days; (b) the damage occurs prior to the last twelve (12) months of the Term; (c) the casualty was: (i) uninsured casualty or (ii) insured but Landlord’s lender requires that the insurance proceeds be applied to its loan; and (d) Landlord’s out of pocket costs to restore the Premises is less than five percent (5%) of the replacement cost thereof (the “Uninsured Restoration Threshold”) or (if not, whether Landlord nevertheless elects greater than 5% of the replacement cost thereof) Tenant agrees to restore)pay the cost of restoration in excess of the Uninsured Restoration Threshold.
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to terminate or neither party elects to terminate actually terminates this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five no later than sixty (4560) days of after the date of the such damage that the such damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usableusable for the period of such untenantability, and Landlord shall promptly commence to diligently restore the Premises to substantially the same condition as before the such damage occurred as soon as practicable, whereupon full Rent shall recommence.
(c) If such damage occurs within the last twelve (12) months of the Term, and Landlord reasonably estimates that the damage cannot be restored within sixty (60) days, either party shall have the right, upon delivery of written notice to the other party within thirty (30) days following such damage, to cancel and terminate this Lease as of the date of such damage, provided, however, that Tenant may not elect to terminate this Lease if such damage was caused by the intentional act of Tenant, its agents, servants, employees or invitees;
(d) Tenant agrees that Landlord’s obligation to restore, and the abatement of Rent provided herein, or Tenant’s right to terminate as above set forth in this Section 26, shall be Tenant’s sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property. If prior to any such election to terminate (or Tenant within ten (10) days after any such election to terminate) Tenant has elected to extend the Term pursuant to the provisions of this Lease and such election may not then according to its terms be rescinded or terminated, then for purposes of this Section 26 the Term shall be deemed to expire on such extended date.
(e) Landlord shall not be liable for any inconvenience or annoyance to Tenant, injury to the business of Tenant, loss of use of any part of the Premises by Tenant or loss of Tenant’s Property, resulting in any way from such damage or the repair thereof. With respect to any damage which Landlord is obligated to repair or may elect to repair, Tenant waives all rights to terminate this Lease or offset any amounts against Rent pursuant to rights accorded Tenant by any law currently existing or hereafter enacted, including without limitation, all rights pursuant to California Civil Code Sections 1932(2.), 1933(4.), 1941 and 1942 and any similar or successor laws.
Appears in 1 contract
Destruction or Damage. (a) 22.01 If the Building or the Demised Premises are totally shall be damaged or destroyed by storm, fire, earthquake, fire or other casualtycause, or damaged to the extent thatLandlord, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty sixty (18060) days of the date Landlord provides after such damage or destruction, shall deliver to Tenant written notice of Landlord's reasonable said estimate of the time necessary (hereinafter referred to as the "Estimated Time") required to repair or restore the damagedamage or destruction, prepared by an independent contractor or if architect selected by Landlord within twenty (20) days after such damage or destruction, and reasonably approved by Tenant within ten (10) business days after written notice from Landlord identifying such independent contractor or architect (such estimate being hereinafter referred to as the damage is not covered "Estimate"). If the Building or the Demised Premises shall be partially damaged or partially destroyed by standard "all risks" property insurance and as a result Landlord elects not fire or other cause, the rents payable hereunder shall be abated to restore such damage, Landlord or Tenant the extent that the Demised Premises shall have been rendered untenantable or inaccessible and for the right to terminate this Lease effective as of period from the date of such damage or destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in date the next sentence damage to the Building and Rent the Demised Premises shall be accounted for repaired and restored so as between Landlord to render the Demised Premises tenantable and Tenant as accessible. If the Demised Premises or a major part thereof shall be totally (which shall be deemed to include substantially totally) damaged or destroyed or rendered completely (which shall be deemed to include substantially completely) untenantable or inaccessible on account of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date fire or other cause, all of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease rents shall xxxxx as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage or destruction and until all of the damage and destruction to the Building and the Demised Premises shall be repaired and restored so as to render the Demised Premises tenantable and accessible, provided, however, that should Tenant reoccupy a portion of the Demised Premises during the period the restoration work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable by Tenant from the date of such occupancy.
22.02 If the Building shall be so damaged or destroyed by fire or other cause (whether or not the Demised Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than 40% of the full insurable value of the Building immediately prior to the casualty, then, as long as Landlord shall concurrently elect to terminate at least 75% of leases for office space in the building in which the affected area of the Demised Premises is located, Landlord may terminate this lease by giving Tenant notice to such effect within ninety (90) days after the date of the casualty. In case of any damage or destruction to the Building or the Demised Premises mentioned in this Section 22.02 Tenant may terminate this lease, (a) by notice to Landlord sent within sixty (60) days after receipt of the Estimate if the Estimated Time exceeds nine (9) months or, (b) if Landlord has not completed the making of the required repairs and restored and rebuilt the Building and the Demised Premises in such time as will enable Tenant, commencing upon the completion of the repair and restoration required to be restored performed by Landlord and prosecuting same with reasonable diligence, to complete the restoration of the Demised Premises (including Tenant's Work) within nine (9) months from the date of such damage or destruction, or within such period after such date (not exceeding three (3) months) as shall equal the aggregate period Landlord may have been delayed in doing so by labor trouble, governmental controls, act of God, or any other cause beyond Landlord's reasonable control, by notice to Landlord sent within thirty (30) days after such nine (9) month period (as same may be extended pursuant to the provisions of Section 22.02(b)), or (c) by notice to Landlord sent within sixty (60) days of receipt of the Estimate if such damage or destruction occurs during the last two (2) years of the term hereof and the Estimated Time exceeds four (4) months, or (d) if such damage or destruction occurs during the last two (2) years of the term hereof if Landlord shall not have completed making the required repairs and restoration of the Building and Demised Premises in such time as will enable Tenant, commencing upon the completion of the repair and restoration required to be performed by Landlord and prosecuting same with reasonable diligence to complete the restoration of the Demised Premises (including Tenant's Work) within four (4) months from the date of such damage or destruction, by notice to Landlord sent within sixty (60) days after such four (4) month period.
22.03 If the Building or the Demised Premises shall be partially or totally damaged or destroyed by fire or other cause, then, whether or not the damage or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and will include Landlord's good faith estimate if this lease shall not have been terminated as in this Article provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Demised Premises, at its expense, with reasonable dispatch after notice to it of the date the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property, Tenant's Changes or Tenant's Work.
22.04 No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Demised Premises or of the Building pursuant to this Article. Landlord shall use commercially reasonable efforts to effect such repair or restoration promptly and in such manner as to not unreasonably interfere with Tenant's use and occupancy and commercially reasonable efforts to collect the proceeds of any insurance which is may be payable in respect of such casualty.
22.05 Notwithstanding any of the foregoing provisions of this Article, if Landlord or the lessor of any superior lease or the holder of any superior mortgage shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Demised Premises or the Building by fire or other cause, solely by reason of the negligence or willful act of Tenant, and, provided Landlord has complied with all of its obligations hereunder and under any superior lease and/or superior mortgage, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Tenant's rents, but the total amount of such rents not usableabated (which would otherwise have been abated) shall not exceed the amount of such uncollected insurance proceeds.
22.06 Landlord will not carry insurance of any kind on Tenant's Property, Tenant's Changes or Tenant's Work, and, except as provided by law or by reason of its fault or its breach of any of its obligations hereunder or as otherwise set forth in this lease, shall not be obligated to repair any damage thereto or replace the same.
22.07 The provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Demised Premises by fire or other casualty, and Landlord Section 227 of the Real Property Law of the State of New York, providing for such a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencehave no application in such case.
Appears in 1 contract
Samples: Lease Agreement (Ivillage Inc)
Destruction or Damage. (a) If the Building or the Premises are totally destroyed is partially damaged by storm, fire, earthquake, or other casualtyAct of God, or damaged Landlord shall repair the same at Landlord's expense, subject to the extent thatprovisions of this Article and provided such repairs can, in Landlord's reasonable opinion opinion, be made within sixty (60) days. During such repairs, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant, Tenant's employees, agents, or invites, an abatement of Rents shall be allowed Tenant for such portion of Premises and period of time as the Premises was unusable by Tenant.
(b) If in Landlord's reasonable opinion the partially damaged Premises can be repaired, but not within sixty (60) days, the Landlord shall notify may elect, upon written notice to Tenant in writing within forty-five thirty (4530) days of such damages, to repair such damages over a longer time period and continue the date Lease in full force and effect, but with Rents partially abated as provided in Article 11 (a). In the event such repairs cannot be made within sixty (60) days, Tenant shall have the option to terminate the Lease provided that written notice is given to Landlord within thirty (30) days of the damage that the damage will be restored (and will include receipt of Landlord's good faith estimate of notice stated in this paragraph.
(c) If the date the restoration will partially damaged Premises is to be complete)repaired under this Article, in which case Rent Landlord shall xxxxx as repair such damages to any portion of the Premises which is not usableitself, and to the Tenant Improvements supplied by Landlord herein. Except in the event of Landlord's gross negligence or willful misconduct, Tenant shall restore be responsible for Tenant's equipment, furniture and fixtures, and other alterations, additions and improvements made by Tenant to the Premises to and Building.
(d) If in Landlord's reasonable opinion, the Premises is totally or substantially destroyed by fire or other casualty, the same condition as before the damage occurred as soon as practicable, whereupon full Rent Lease shall recommenceterminate upon notice by Landlord.
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Destruction or Damage. (a) a. If the Building Premises or the Premises are totally destroyed portion of the Building necessary for Tenant's occupancy is damaged by storm, fire, earthquake, or act of God, the elements of other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Section, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion the damage cannot opinion, be restored completed within one hundred eighty (18090) days of the date ninety days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty determines that repairs can be completed within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect, except that if such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant's use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord shall notify under Section 19d.
b. If in Landlord's opinion, such repairs to the Premises or portion of the Building necessary for Tenant's occupancy cannot be completed within ninety (90) days, Landlord may elect, upon notice to Tenant in writing given within forty-five thirty (4530) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19a. If Landlord does not so elect to make such repairs, this Lease shall terminate as of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to such fire or other casualty.
c. If any other portion of the Premises which Building or Project is totally destroyed or damaged to the extent that in Landlord's opinion repair thereof cannot usablebe completed within ninety (90) days, and Landlord shall restore the Premises may elect upon notice to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.Tenant given within thirty
Appears in 1 contract
Samples: Commercial Office Building Lease
Destruction or Damage. (a) a. If the Premises or any other portion of the Building or the Premises are totally destroyed necessary for Tenant's occupancy is damaged by storm, fire, earthquake, act of God, the elements or other casualty, or damaged Landlord shall, subject to the extent thatprovisions of this Article, promptly repair the damage, if such repairs can, in Landlord's reasonable opinion the damage cannot opinion, be restored completed within one hundred eighty ninety (18090) days of the date days. If Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty reasonably determines that repairs can be completed within ninety (3090) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) abovedays, this Lease shall remain in full force and effect, except that if such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant's use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord shall notify under Section 19d.
b. If in Landlord's reasonable opinion such repairs to the Premises or portion of the Building necessary for Tenant's occupancy cannot be completed within ninety (90) days, Landlord may elect, upon notice to Tenant in writing given within forty-five thirty (4530) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19a. If Landlord does not so elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
c. If any other portion of the damage Building or Project is totally destroyed or damaged to the extent that the damage will be restored (and will include in Landlord's good faith estimate reasonable opinion repair thereof cannot be completed within ninety (90) days, Landlord may elect, upon notice to Tenant given within thirty (30) days after the date of such fire or other casualty, to repair such damage, in which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19a. If Landlord does not so elect to make such repairs, this Lease shall terminate as of the date of such fire or other casualty.
d. If the Premises are to be repaired under this Article, Landlord shall repair at its cost any injury or damage to the Building and Building Standard Work in the Premises. Tenant shall be responsible at its sole cost and expense for the repair, restoration will and replacement of any other Leasehold Improvements and Tenant's Property. Landlord shall not be complete)liable for any loss of business, in which case Rent shall xxxxx as to inconvenience or annoyance arising from any repair or restoration of any portion of the Premises which is not usablePremises, Building or Project as a result of any damage from fire or other casualty.
e. This Lease shall be considered an express agreement governing any case of damage to or destruction of the Premises, Building or Project by fire or other casualty, and any present or future law which purports to govern the rights of Landlord shall restore and Tenant in such circumstances shall, in the Premises to substantially the same condition as before the damage occurred as soon as practicableabsence of express agreement, whereupon full Rent shall recommencehave no application.
Appears in 1 contract
Destruction or Damage. (a) If the Building or the Premises are totally damaged or destroyed by storm, fire, earthquake, fire or other casualty, or damaged to the extent thatand this Lease is not terminated as provided below, in Landlord's reasonable opinion Landlord shall repair the damage cannot be restored within one hundred eighty and restore or rebuild the Building and the Premises (180) days of as the date Landlord provides Tenant written notice of Landlord's case may be), at its expense, with reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written dispatch after notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date it of the damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of the estimated time needed to restore, and whether the loss is covered Tenant's Property or any alteration or Leasehold Improvements made by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore)Tenant.
(b) If the Premises are partially damaged or destroyed by any fire or other casualty, the Rent shall equitably xxxxx, to the extent that the Premises are rendered untenantable, for the period from the date of such casualty damage or casualties but neither party destruction to the date the damage is entitled to repaired or neither party elects to restored.
(c) If the Building or the Premises is substantially damaged or destroyed by fire or other casualty, Landlord may terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify by notice to Tenant in writing within forty-five (45) 90 days of after the date of the damage that casualty, and this Lease shall terminate upon the damage will 30th day after such notice, by which date Tenant shall vacate and surrender the Premises to Landlord. The Rent shall be restored prorated to the date of the casualty. The Premises or Building (and will include whether or not the Premises are damaged) shall be deemed substantially damaged or destroyed if (i) Land1ord is required to expend for repairs more than 20 percent of the replacement value of the Building immediately prior to the casualty or (ii) restoration is not possible in accordance with Landlord's good faith reasonable estimate of within 180 days following the date the damage occurred.
(d) Tenant may not terminate this Lease or repair the Premises at Landlord's expense as a result of a casualty, and no damages, compensation or claim shall be payable by Landlord for any casualty, or any inconvenience, loss of business or annoyance arising from any repair or restoration will be complete), in which case Rent shall xxxxx as to of any portion of the Premises which is not usable, and or of the Building pursuant to this Section. Landlord shall restore use its best efforts to make such repair or restoration promptly and in such manner as will not unreasonably interfere with Tenant's use and occupancy of the Premises Premises, but Landlord shall not be required to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommencedo such repair or restoration work except during Normal Business Hours.
Appears in 1 contract
Samples: Office Lease (Jreck Subs Group Inc)
Destruction or Damage. 21.01 All proceeds (aexcept business interruption insurance proceeds not allocated to Rent expenses) If payable by reason of any property loss, damage, or destruction of or to the Building or the Demised Premises are totally destroyed by storm, fire, earthquake, fire or other casualty, or damaged any portion thereof, under any property policy of insurance required to be carried hereunder, shall be paid to Landlord’s mortgagee if required under any Landlord mortgage, if any (or if none, to a mutually acceptable escrow agent (the extent that“Escrow Agent”)), to be held in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days trust for purpose of restoration of the date Demised Premises and made available to Tenant upon request and subject to and in accordance with Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damagemortgagee’s customary procedures, or if there is no Landlord mortgagee, by Escrow Agent pursuant to the terms of this Article 21, for the reasonable costs of preservation, stabilization, emergency restoration business interruption (other than any amount allocated to Rent expenses), reconstruction and repair, as the case may be, of any damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as destruction of the date Demised Premises, or any portion thereof; provided, however, that the portion of such destruction or damage by written notice proceeds that are attributable to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Tenant’s obligation to pay Rent shall be accounted applied against Rent due by Tenant hereunder. All proceeds paid to Tenant shall be used first for as between Landlord and Tenant as the repair of that dateany damage to the Demised Premises (other than such payment of Rent). Landlord shall provide Tenant with notice within forty-five (45) days following Any of excess proceeds of insurance remaining after the date completion of the damage restoration or reconstruction of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Demised Premises to substantially the same condition as existed immediately before the damage occurred or destruction and with materials and workmanship of like kind and quality and to Landlord’s reasonable satisfaction shall be paid to Tenant. All salvage resulting from any risk covered by insurance for damage or loss to the Demised Premises shall belong to Tenant. Tenant shall have the right to prosecute and settle insurance claims, provided that Tenant shall, upon Landlord’s written request, consult with and reasonably involve Landlord in the process of adjusting any insurance claims under this Section.
21.02 Subject to the customary provisions of any Landlord mortgage, and subject to the terms of this Section, Landlord mortgagee shall make available to Tenant the insurance proceeds (net of all reasonable administrative and collection costs, including reasonable attorneys’ fees) paid by Tenant’s insurance for such repair and rebuilding of the Demised Premises as soon it progresses (other than business interruption proceeds to be applied to Rent as practicableaforesaid). Payments shall be made against certification of the architect responsible for the supervision of the repairs and rebuilding that the work had been performed substantially in conformance with the approved plans and specifications therefor and the value of the work in place is equal to not less than one hundred ten percent (110%) of the aggregate amount advanced by Landlord’s mortgagee or the Escrow Agent for the payment of such work. Prior to commencing the repairing and rebuilding, whereupon Tenant shall deliver to Landlord for Landlord’s approval, which shall not be unreasonably withheld, conditioned or delayed a schedule setting forth the estimated monthly draws for such work. If the Demised Premises is damaged by fire or other casualty, whether or not from a risk covered by insurance, Tenant shall give Landlord prompt written notice thereof, and within thirty (30) days after the occurrence of the casualty, Tenant shall provide Landlord with a notice detailing Tenant’s good faith estimate, based on consultations with and supported by reports and recommendations of qualified architects and contractors, of the length of time (the “Estimated Repair Period”) that it will take following commencement of construction to complete the reconstruction, restoration and repair of the Demised Premises, using customary construction techniques and assuming normal working conditions and work schedules, to reconstruct, restore or repair the Demised Premises in accordance with the terms of this Section to a condition as near as reasonably possible to the condition that existed immediately prior to such fire or other casualty, except for ordinary wear and tear. Rent shall continue unabated until the date of termination. Tenant waives any statutory rights of termination which may arise by reason of any damage or destruction of the Demised Premises but such waiver shall not affect any contractual rights granted to Tenant under this Section
21.03 Subject to Section 21.05, Tenant shall, at its expense regardless of the amount of any such damage or destruction and whether or not the insurance proceeds attributable such damage or destruction made available to Tenant, if any, shall be sufficient for the purpose, cause the Demised Premises to be repaired, restored and replaced in accordance with all Law, this Section 21 as expeditiously as practicable using reasonable diligence to a condition as nearly as practicable to that which existed immediately prior to occurrence of the fire or other casualty and otherwise in a good workmanlike manner, using new materials of like quality.
21.04 No damage or destruction of the Demised Premises as a result of fire or any other hazard, risk or casualty whatsoever shall relieve Tenant from Tenant’s liability to pay the full Rent payable under this Lease, except as expressly set forth herein.
21.05 Notwithstanding the foregoing, if (i) the Demised Premises are substantially damaged (to the extent of twenty-five (25%) percent or more of the replacement cost, as certified by Tenant’s architect or engineer) or rendered wholly unusable, by fire or other casualty, and the Estimated Repair Period is more than one hundred twenty (120) days within the last twelve (12) months of the Term or (ii) Tenant does not receive sufficient insurance proceeds to perform the restoration obligations hereunder despite its using best efforts to receive same, provided (a) Tenant carried all required insurance hereunder and is not otherwise in default under this Lease beyond any applicable grace or cure periods, and (b) Landlord is unable to provide sufficient supplemental insurance proceeds (less any costs for premiums or deductibles of Landlord under such policy(ies), the costs of which shall recommencebe paid for by Tenant, as Additional Rent hereunder within 30 days after demand by Landlord in the event that any such insurance proceeds are required pursuant to this Section 21.01) to reconcile any deficiencies from Tenant’s insurance proceeds (less any deductibles or insurance premiums) in order for Tenant to perform the restoration obligations hereunder, then in either such event, Tenant may elect to terminate the Lease by written notice to Landlord given within thirty (30) days after such fire or casualty. In such event, the date for the expiration of this Lease shall be the date in which Landlord is paid by Tenant the net insurance proceeds received by Tenant with respect thereto. Upon such date, the Term shall expire as fully and completely as if it were the Expiration Date. Any Rent owing shall be paid up to such termination date, and any payments of Rent made by Tenant that were on account of any period subsequent to such date shall be returned to Tenant.
21.06 The provisions of this Lease, including this Section constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Demised Premises, and any Law with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Demised Premises.
Appears in 1 contract
Destruction or Damage. (a) If the Building or the Premises are totally destroyed is partially damaged by storm, fire, earthquake, or other casualtyAct of God, or damaged Landlord shall repair the same at Landlords expense, subject to the extent thatprovisions of this Article and provided such repairs can, in Landlord's Landlords reasonable opinion opinion, be made within sixty (60) days. During such repairs, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other on or before thirty (30) days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's insurance coverage (and if not, whether Landlord nevertheless elects to restore).
(b) If the Premises are damaged by any such casualty or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, except that if there shall be damage to the Premises and such damage is not the result of the negligence or willful misconduct of Tenant, Tenant's employees, agents, or invitees, an abatement of Rents shall be allowed Tenant for such portion of Premises and period of time as the Premises was unusable by Tenant.
(b) If in Landlord's reasonable opinion the partially damaged Premises can be repaired, but not within sixty (60) days, the Landlord shall notify may elect, upon written notice to Tenant in writing within forty-five thirty (4530) days of such damages, to repair such damages over a longer time period and continue the date Lease in full force and effect, but with Rents partially abated as provided in Article 11 (a). In the event such repairs cannot be made within sixty (60) days, Tenant shall have the option to terminate the Lease provided that written notice is given to Landlord within thirty (30) days of the damage that the damage will be restored (and will include receipt of Landlord's good faith estimate of provided notice stated in this paragraph.
(c) If the date the restoration will partially damaged Premises is to be complete)repaired under this Article, in which case Rent Landlord shall xxxxx as repair such damages to any portion of the Premises which is not usableitself, and to the Tenant Improvements supplied by Landlord herein. Except in the event of Landlord's gross negligence or willful misconduct, Tenant shall restore be responsible for Tenant's equipment, furniture and fixtures, and other alterations, additions and improvements made by Tenant to the Premises to and Building.
(d) If in Landlord's reasonable opinion, the Premises is totally or substantially destroyed by fire or other casualty, the same condition as before the damage occurred as soon as practicable, whereupon full Rent Lease shall recommenceterminate upon notice by Landlord.
Appears in 1 contract
Destruction or Damage. (a) Tenant shall promptly notify Landlord of any material damage to the Premise resulting from fire or any other casualty. If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion to be provided by Landlord to Tenant in a timely manner reasonable under the circumstances the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss – Special Form property insurance, or if the Landlord’s lender requires that the insurance and as a result Landlord elects not proceeds be applied to restore such damageits loan, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice to the other Tenant on or before thirty (30) days following Landlord's ’s notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five sixty (4560) days following the date of the damage of the estimated time needed to restore, and whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects or not Landlord’s lender requires the insurance proceeds be applied to restore)its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party Landlord is not entitled to or neither party elects to does not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence. Notwithstanding the foregoing to the contrary, Landlord shall not be obligated to restore any component of the Building or the Premises for which Tenant is required to maintain insurance under Section 22(a)(ii).
Appears in 1 contract
Destruction or Damage. (a) If In the Building or event that the Premises are Leased Premises, as it exists at the beginning of the term hereof, is totally destroyed by storm, fire, earthquakefire or other casualty insured against, or other casualty, or is so damaged to the extent that, in Landlord's reasonable opinion the damage that repairs and restoration cannot be restored accomplished within one hundred eighty a period of sixty (18060) days of the date Landlord provides Tenant written notice of Landlord's reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" property insurance and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of from the date of such destruction or damage by written damage, then upon notice from Landlord or Tenant to the other on or before thirty (30) party within 30 days following Landlord's notice described in the next sentence and Rent shall be accounted for as between Landlord and Tenant as of that date. Landlord shall provide Tenant with notice within forty-five (45) days following the date of such loss the damage term of this Lease will then terminate without further act of either party hereto, and each party shall be relieved of any further obligation to the other, and except that Tenant shall be liable for and shall promptly pay Landlord any Rent then in arrears or Landlord shall promptly rebate to Tenant the pro rata portion of any Rent paid in advance. In the event that the Leased Premises are so damaged that repairs and restoration can be accomplished within a period of sixty (60) days from the date of such destruction or damage, this Lease will continue in effect in accordance with its terms; such repairs and restoration will, unless otherwise agreed by Landlord and Tenant, be performed as closely as practicable to the original specifications (utilizing therefor the proceeds of the estimated time needed insurance applicable thereto without any apportionment thereof for damages to the leasehold interest created by this Lease), and until such repairs and restoration have been accomplished, a portion of the rent will xxxxx equal to the proportion of the Leased Premises rendered unusable by the damage. Landlord's obligation to restore, and whether replace or rebuild such facilities will not exceed in amount the loss is covered sum of the insurance proceeds paid to it and/or released to it by any mortgagee with which settlement was made. In the event the Leased Premises may be repaired and/or restored within the aforementioned sixty (60) day period, but the cost of such repair or restoration exceeds the available insurance proceeds, at Landlord's discretion, this Lease may be terminated in which event the rights and duties of the parties shall be governed by the first sentence of this Section. Tenant shall execute and deliver to Landlord all instruments and documents necessary to evidence the fact that the right to such insurance coverage (and if not, whether Landlord nevertheless elects to restore)proceeds is vested in Landlord.
(b) If the Premises are damaged It is understood and agreed that Xxxxxx assumes all risk of damage to its own property arising from any cause including, without limitation, loss by any such casualty theft or casualties but neither party is entitled to or neither party elects to terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five (45) days of the date of the damage that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommenceotherwise.
Appears in 1 contract
Samples: Triple Net Lease
Destruction or Damage. (a) If the Building or the Premises are totally destroyed by storm, fire, earthquake, or other casualty, or damaged to the extent that, in Landlord's ’s reasonable opinion the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant written notice (the “Casualty Notice”) of Landlord's ’s reasonable estimate of the time necessary to restore the damage, or if the damage is not covered by standard "all risks" ISO Causes of Loss – Special Form property insurance, or if the Landlord’s lender requires that the insurance proceeds be applied to its loan, both Landlord and as a result Landlord elects not to restore such damage, Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such destruction or damage by written notice (“Casualty Termination Notice”) to the other party on or before thirty (30) days following Landlord's notice ’s Casualty Notice described in the next sentence and sentence, with Rent shall be being accounted for as between Landlord and Tenant as of that datethe date of such casualty. Landlord shall provide Tenant with notice the Casualty Notice within forty-five sixty (4560) days following the date of the damage of which shall include: (x) the estimated time needed to restore, and (y) whether the loss is covered by Landlord's ’s insurance coverage (and if not, whether Landlord nevertheless elects will otherwise fund the costs to restorerestore the damage), (z) whether or not Landlord’s lender requires the insurance proceeds be applied to its loan.
(b) If the Premises are damaged by any such casualty or casualties but neither party is Landlord and Tenant are not entitled to or neither party elects to do not terminate this Lease as provided in subparagraph (a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within forty-five sixty (4560) days of the date of the damage that the damage will be restored (and will include Landlord's ’s good faith estimate of the date the restoration will be complete), in which case Rent shall xxxxx as to any portion of the Premises which is not usable, and Landlord shall restore the Premises to substantially the same condition as before the damage occurred as soon as practicable, whereupon full Rent shall recommence.
(c) Notwithstanding anything to the contrary contained herein, Landlord shall have no obligation to restore any item that is Tenant’s responsibility to insure under Section 22 hereof (other than any leasehold improvements, which Landlord will restore in accordance with the foregoing, to the extent Landlord actually receives insurance proceeds from Tenant or Tenant’s insurer to pay for such restoration), regardless of whether Tenant insures same, undertakes self insurance with respect to same or fails to maintain insurance with respect to same; Tenant shall bear the responsibility for prompt restoration of all such items.
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