Destruction or Damage. In the event of partial or total destruction of the Property or improvements by fire or other casualty, the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use, subject to the provisions hereof. During the period of repairs or restoration, this Lease shall continue in full force and effect and there shall be no abatement of Rent. If (i) the Property or improvements are so extensively destroyed by fire or other casualty so as to render the Property unsuitable for the Tenant’s use of the Property in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, and (ii) the Landlord’s contractor has notified Landlord that it estimates that the period of time required to repair, reconstruct or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over any and all insurance proceeds related to the Property to Landlord and giving written notice to the Landlord within ninety (90) days after the date of such destruction. In the event of termination pursuant to this Section, this Lease shall terminate as of, and Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there shall be no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use.
Appears in 4 contracts
Samples: Lease Agreement (Great White Energy Services, Inc.), Lease Agreement (Great White Energy Services, Inc.), Lease Agreement (Great White Energy Services, Inc.)
Destruction or Damage. In 319 (A) If, during the event Term of partial this Lease or total destruction of any extension thereto, the Property or improvements Premises is damaged by fire or any other casualty, including, without 320 limitation, natural disaster, and not occurring through the intentional or negligent acts or omissions of Tenant or those claiming 321 under Tenant, or their employees respectively, Tenant shall promptly notify Landlord shalland Landlord shall repair the damaged por- 322 tions of the Premises, as promptly as practicableincluding any improvements or alterations made by Landlord (but not any of Tenant’s property therein or 323 improvements or alterations made by Tenant). If, however, in Xxxxxxxx’s reasonable judgment, the damage would require more 324 than days (120 if not specified) of work to repair, reconstruct or replace if the portions insurance proceeds (excluding rent insurance) that Landlord 325 anticipates receiving must be applied to repay any mortgages encumbering the improvements, or are otherwise inadequate to pay 326 the costs of such repair, Landlord shall have the Property or right to terminate this Lease by so notifying Tenant. Such notice shall specify a 327 termination date not less than days (30 if not specified) after its receipt by Xxxxxx. 328 (B) If the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use, subject damage to the provisions hereof. During Premises is only partial and such that the period of repairs or restorationPremises can be restored to its former condition within a reasonable 329 time, Landlord may enter and repair, and this Lease shall continue in full force and effect and there not be affected, except that Base Rent shall be no abatement of Rentapportioned and suspended 330 while such repairs are being made. If (i) the Property or improvements are Premises is so extensively destroyed slightly damaged by fire or other casualty as mentioned above so as not 331 to render the Property unsuitable Premises unfit for occupancy, Xxxxxxxx agrees the Tenant’s same shall be promptly repaired. 332 (C) Landlord shall not be liable for any damage, compensation or claim by reason of inconvenience or annoyance from the necessity 333 of repairing any portion of the Premises, or improvements thereon, the interruption and the use of the Property in Premises, or the same manner as the Tenant’s use termination 334 of the Property at the time of such fire or other casualty, and (ii) the Landlord’s contractor has notified Landlord that it estimates that the period of time required to repair, reconstruct or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over any and all insurance proceeds related to the Property to Landlord and giving written notice to the Landlord within ninety (90) days after the date of such destruction. In the event of termination pursuant to this Section, this Lease shall terminate as of, and Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery reason of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there shall be no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions destruction of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted usePremises.
Appears in 2 contracts
Samples: Commercial Lease, Commercial Lease
Destruction or Damage. In the event of partial (a) If all or total destruction any part of the Property Premises is damaged by fire or improvements other casualty (the “Casualty”) occurring on or after the date hereof and prior to the Closing Date, whether or not such damage affects a material part of any portion of the Premises, then:
(i) if the estimated cost of repair or restoration is less than or equal to One Million No/100 Dollars ($1,000,000.00) and, if the estimated time to substantially complete such repair or restoration is six months (6) months or less (after receipt of insurance proceeds) and the GSA Tenant shall not be entitled to terminate the GSA Lease or reduce lease payments by more than five percent (5%) as a result of such fire or other casualty, neither party shall have the Landlord shallright to terminate this Contract and the parties shall proceed to consummate this transaction in accordance with this Contract, as promptly as practicable, repair, reconstruct or replace the portions without any abatement of the Property Purchase Price or any liability or obligation on the improvements destroyed part of Seller by reason of such destruction or damage. In such event, Seller shall assign to Purchaser, and Purchaser shall have the right to make a claim for and to retain any casualty insurance proceeds received under, the casualty insurance policy in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use, subject effect with respect to the provisions hereof. During the period Premises on account of repairs such physical damage or restoration, this Lease shall continue in full force and effect and there destruction as shall be no abatement of Rent. If (i) necessary to perform repairs to the Property or improvements are so extensively destroyed by fire or other casualty so as Premises and/or to render restore the Property unsuitable for the Tenant’s use of the Property in Premises to substantially the same manner condition as existed prior to the Tenant’s use of the Property at the time occurrence of such fire or other casualty, and Purchaser shall receive a credit against the cash due at Closing for the amount of the deductible on such casualty insurance policy paid by Purchaser.
(ii) if (x) the Landlord’s contractor has notified Landlord that it estimates that estimated cost of repair or restoration exceeds One Million No/100 Dollars ($1,000,000.00), (y) the period of estimated time required to repairsubstantially complete such repair or restoration exceeds six (6) months, reconstruct or replace (z) the portions of GSA Tenant shall be entitled to terminate the Property GSA Lease or improvements destroyed, so reduce lease payments by more than five percent (5%) as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time a result of such fire or other casualty, Purchaser shall exceed one hundred eighty have the option, exercisable within fifteen (18015) daysbusiness days after the later of (i) receipt of notice of the occurrence of such fire or other casualty and (ii) receipt by Purchaser of the construction expert’s determination of the estimated cost to repair and/or restore and the estimated time such repair and/or restoration, to terminate this Contract by delivering notice of such termination to Seller, whereupon the Deposit (together with any interest accrued thereon) shall be returned to Purchaser, and this Contract shall be deemed canceled and of no further force or effect, and neither party shall have any further rights or liabilities against or to the other except for such rights or liabilities which are expressly provided in this Contract to survive the termination hereof. If a fire or other casualty described in this Section 12.2(a)(ii) shall occur and Purchaser shall not timely elect to terminate this Contract, then Purchaser and Seller shall consummate this transaction in accordance with this Contract, without any abatement of the Tenant may terminate this Lease Purchase Price or any liability or obligation on the part of Seller by turning over reason of such destruction or damage and, in such event, Seller shall assign to Purchaser and Purchaser shall have the right to make a claim for and to retain any and all casualty insurance proceeds related received under the casualty insurance policy in effect with respect to the Property Premises on account of such physical damage or destruction as shall be necessary to Landlord and giving written notice perform repairs to the Landlord within Premises and/or restore the Premises to substantially the same condition as existed prior to the occurrence of such fire or other casualty and Purchaser shall receive a credit against the cash due at Closing for the amount of the deductible on such casualty insurance policy paid by Purchaser.
(iii) In the event that Seller and Purchaser shall disagree as to the estimated cost to repair and/or restore and the estimated time to complete contemplated in Section 12.2(a) above, then such dispute shall be determined by arbitration as provided in Article 14. The Closing Date may be extended up to a maximum extension of ninety (90) days after days, as reasonably required to obtain such estimates from the date construction expert to determine the availability and amount of insurance proceeds and give the notices required under this Section 12.2. Seller and Purchaser shall cooperate and exercise due diligence to obtain such destruction. In damage estimates from the event of termination pursuant construction expert and to this Section, this Lease shall terminate as ofadjust the insurance claim with, and Rent shall be appropriately apportioned through and abated from and aftercollect insurance proceeds from, the first rental payment date occurring after the delivery applicable insurer(s).
(b) The provisions of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not 12.2 supersede any law applicable to so terminate, there shall be no abatement the Premises governing the effect of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct fire or replace the portions of the Property or the improvements destroyed other casualty in a good and workmanlike manner so as to provide contracts for the continuation of the Tenant’s use of the Property for the permitted usereal property.
Appears in 2 contracts
Samples: Contract of Sale (US Federal Properties Trust Inc.), Contract of Sale (US Federal Properties Trust Inc.)
Destruction or Damage. (a) In the event of partial the Premises or total destruction the portion of the Property or improvements Building necessary for Tenant's use and enjoyment of the Premises are damaged by fire fire, earthquake, act of God, the elements or other casualty, Landlord shall repair the Landlord shall, as promptly as practicable, repair, reconstruct or replace same (including the portions Tenant Work in the portion of the Property or Premises damaged to the improvements destroyed in a good and workmanlike manner so as extent of the actual cost of said Tenant Work, but not to provide exceed the Tenant Improvement Allowance plus an additional Five Dollars ($5.00) per rentable square foot for the continuation portion of the Tenant’s use of the Property for the permitted usePremises so damaged), subject to the provisions hereof. During the of this Section hereinafter set forth, if (i) such repairs can, in Landlord's reasonable opinion, be made within a period of twelve (12) months after the date of casualty, (ii) the cost of repairing damage for which Landlord is not insured shall be less than five percent (5%) of the then full insurable value of the Premises with respect to repairing any damage to the Premises, or five percent (5%) of the then full insurable value of the Building with respect to repairing any damage to other areas of the Building, (iii) the damage or destruction does not occur during the last twelve (12) months of the Lease Term as the same may be extended under the terms of this Lease (said twelve (12) months shall be measured after taking into account any extension of the Lease Term under the terms of this Lease), and (iv) Landlord's mortgagee does not require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt. This Lease shall remain in full force and effect except that so long as the damage or destruction is not caused by the negligence or fault of Tenant, its contractors, agents, employees or invitees, an abatement of monthly rental shall be allowed Tenant for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable and Tenant does not actually occupy such part.
(b) As soon as is reasonably possible following the occurrence of any damage, Landlord shall notify Tenant of the estimated time and cost required for the repair or restoration of the Premises or the portion of the Building necessary for Tenant's occupancy (including the Tenant Work in the portion of the Premises damaged to the extent of the actual cost of said Tenant Work, but not to exceed the Tenant Improvement Allowance plus an additional Five Dollars ($5.00) per rentable square foot for the portion of the Premises so damaged). If, in Landlord's reasonable opinion, such repairs cannot be made within twelve (12) months as set forth in Section 13(a)(i) above, Landlord or restorationTenant may elect by written notice to the other within thirty (30) days after Landlord's notice of estimated time and cost is given (i) in the event of damage or destruction to two entire floors in the Premises or less, to terminate this Lease only as to the portion of the Premises damaged or destroyed, effective as of the date of such damage, or (ii) in the event of damage or destruction to more than two floors in the Premises, to terminate this Lease effective as of the date of such damage. If Landlord is not obligated to effect the repair based upon the circumstances set forth in Sections 13(a)(ii) or 13(a)(iii) above, Landlord shall have the right to terminate this Lease, by written notice to Tenant within thirty (30) days after Landlord's notice of time and cost is given, effective as of the date of such damage or destruction. If neither party so elects to terminate this Lease, this Lease shall continue in full force and effect and there effect, but the rent shall be partially abated as provided in Section 13(a) above, and Landlord shall proceed with reasonable promptness to repair such damage.
(c) A total destruction of the Building shall automatically terminate this Lease. Tenant hereby waives all statutory rights of termination, including any such rights under California Civil Code Section 1933.
(d) In no abatement of Rent. If event shall Tenant be entitled to any compensation or damages from Landlord, specifically including, but not limited to, any compensation or damages for (i) loss of the Property or improvements are so extensively destroyed by fire or other casualty so as to render the Property unsuitable for the Tenant’s use of the Property in the same manner as the Tenant’s use whole or any part of the Property at the time of such fire or other casualtyPremises, and (ii) damage to Tenant's personal property in or improvements to the Premises, or (iii) any inconvenience, annoyance or expense occasioned by such damage or repair (including moving expenses and the expense of establishing and maintaining any temporary facilities).
(e) Landlord’s contractor has notified Landlord that it estimates that , in repairing the period of time Premises, shall not be required to repairrepair any injury or damage to the personal property of Tenant, reconstruct or replace to make any repairs to or replacement of any alterations, additions, improvements or fixtures installed on the portions Premises by or for Tenant, except the Tenant Work to the extent of the Property or improvements destroyedactual cost of the Tenant Work, so as not to provide exceed the Tenant Improvement Allowance plus an additional Five Dollars ($5.00) per rentable square foot for the continuation portion of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over any and all insurance proceeds related to the Property to Landlord and giving written notice to the Landlord within ninety (90) days after the date of such destruction. In the event of termination pursuant to this Section, this Lease shall terminate as of, and Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to Premises so terminate, there shall be no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted usedamaged.
Appears in 2 contracts
Samples: Office Lease (Xoom Inc), Office Lease (NBC Internet Inc)
Destruction or Damage. In (a) If the event of partial Premises or total destruction the portion of the Property Building necessary for Tenant's occupancy is damaged by fire, earthquake, act of God, the elements of other casualty, Landlord shall, subject to the provisions of this Article, promptly repair the damage, if such repairs can, in Landlord's 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 improvements by 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 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 (but shall have no obligation to) elect, upon notice to Tenant given within thirty (30) days after the date of such fire or other casualty, the Landlord shallto repair such damage, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use, subject to the provisions hereof. During the period of repairs or restoration, which event this Lease shall continue in full force and effect and there effect, but the Base Rent shall be no abatement of Rentpartially abated as provided in Section 19(a). If (i) Landlord does not so elect to make such repairs, this Lease shall terminate as of the Property or improvements are so extensively destroyed by date of such fire or other casualty so as to render the Property unsuitable for the Tenant’s use casualty.
(c) If any other portion of the Property 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 same manner as the Tenant’s use of the Property at the time date of such fire or other casualty, and (ii) the Landlord’s contractor has notified Landlord that it estimates that the period of time required to repairrepair such damage, reconstruct or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate which event this Lease by turning over any shall continue in full force and all insurance proceeds related effect, but the Base Rent shall be partially abated as provided in Section 19(a). If Landlord does not elect to the Property to Landlord and giving written notice to the Landlord within ninety (90) days after the date of make such destruction. In the event of termination pursuant to this Sectionrepairs, this Lease shall terminate as ofof the date of such fire or other casualty period. Landlord shall pay to Tenant a sum equal to the total of three (3) months Monthly Rent, the remaining unamortized cost of leasehold improvements installed by Tenant (amortized over a period not to exceed the length of the term of the Lease), and Rent any remaining security deposit; upon the payment of which, each party shall be appropriately apportioned through released from further obligation to the other.
(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 abated standard Building finishes 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 and after, the first rental payment date occurring after the delivery any repair or restoration of any portion of the notice Premises, Building or Project as a result of termination. If the Tenant has the option to terminate this any damage from fire or other casualty.
(e) This Lease pursuant to this Section but elects not to so terminate, there shall be no abatement considered an express agreement governing any case of Rentdamage 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 shalland Tenant in such circumstances, as promptly as practicablein the absence of express agreement, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted useshall have no application.
Appears in 2 contracts
Samples: Office Suite Lease Agreement (High Desert Holding Corp.), Office Suite Lease Agreement (High Desert Holding Corp.)
Destruction or Damage. (A) In The event the event of partial or total destruction of the Property or improvements building is damaged by fire or other casualtyperils covered by Lessor's extended coverage insurance to an extent not exceeding twenty-five percent (25%) of the full insurable value thereof and the damages thereto are such that the Building may be repaired, reconstructed or restored within a period of ninety (90) days from the Landlord shalldate of the happening of such casualty and Lessor receives insurance proceeds sufficient to cover the cost of such repairs, as promptly as practicable, Lessor shall commence and proceed diligently wit the work of repair, reconstruct or replace the portions reconstruction and restoration of the Property building (but shall not be responsible for repairing or the improvements destroyed in a good restoring any property owned or installed by Lessee) and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use, subject to the provisions hereof. During the period of repairs or restoration, this Lease shall continue in full force and effect without any abatement I Rental except as may be expressly provided below. If such repair, reconstruction and there restoration will require a period longer than ninety (90) days or if such damage exceeds twenty-five percent (25%) of the full insurable value thereof, or if said insurance proceeds will be insufficient to cover the cost of such repairs. Lessor may elect to so repair, reconstruct and restore the building to the extent it deems advisable and this lease shall continue in full force and effect without any abatement in Rental except as may be expressly provided below. Lessor shall give written notice to lessee of its intention to repair and restore or not repair or restore the Building within thirty (30) days from the date of any casualty, together with lessor's reasonable estimate of the period required to effect such repair. Provided Lessee is to in default hereunder, Lessee shall have the option to terminate this lease by written notice delivered to lessor within a three(30 day period from the date of receipt of Lessor's notice that it has elected to repair the Building, if the estimate period shall constitute lessee's irrevocable election not to terminate the Lease. In the event lessor elects no to restore the Building, this lease shall be no deemed to have terminated as of the date of such partial destruction. Upon any termination of this lease under any of the provisions of this section 20, the parties shall be released thereby without further obligation to the other from the date possession of the Premises is surrendered to lessor except for items which have theretofore accrued and are then unpaid.
(b) In the event of repair, reconstruction and restoration by Lessor as herein provided, the base Rental shall be abated to the extent of any rental abatement insurance proceeds attributable to the premises received by Lessor during the period of Rentsuch repair, reconstruction or restoration. If (i) Lessee shall not be entitled to any compensation or damages for loss in the Property or improvements are so extensively destroyed by fire or other casualty so as to render the Property unsuitable for the Tenant’s use of the Property in the same manner as the Tenant’s use whole or any part of the Property at Premises and/or for any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration.
(c) Notwithstanding anything to the time of such fire or other casualtycontrary contained in this Section 20, and (ii) the Landlord’s contractor has notified Landlord that it estimates that the period of time required lessor shall not be obligated to repair, reconstruct or replace restore the portions Premises when the damage resulting from any casualty covered under this Section 20 occurs during the last twelve (12) months of the Property or improvements destroyed, so as to provide for the continuation term of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over or any and all insurance proceeds related to the Property to Landlord and giving written notice to the Landlord within ninety (90) days after the date of such destruction. In the event of termination pursuant to this Section, this Lease shall terminate as of, and Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there shall be no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted useextension hereof.
Appears in 1 contract
Samples: Lease Agreement (Medcross Inc)
Destruction or Damage. 15.1 Subject to Sections 15.2 and 15.3, in case of damage to or total or partial destruction (other than by reason of condemnation proceedings) of the Building and Improvements, Landlord, at its expense (whether or not the insurance proceeds are sufficient to cover the cost thereof), shall restore, replace, build, repair or rebuild the damaged or destroyed Building and Improvements to a safe and lawful condition so that the Building and Improvements shall be restored to the extent practicable to their condition immediately prior to such damage or destruction. In the event that Landlord wishes to rebuild the Building and Improvements pursuant to plans incorporating an improved architectural design which is suitable for Tenant's purposes and would provide Tenant with at least the amount of usable space provided by the current Building and Improvements, then Tenant shall not unreasonably withhold its consent. Any restoration, replacement, building, repair or rebuilding is sometimes referred to in this Article and in Article XVI hereof as the "Work." The Work shall be commenced within ninety (90) days after the receipt of the insurance proceeds by the superior mortgagee or Landlord and shall proceed with reasonable diligence to completion subject to Unavoidable Delays. Any excess insurance proceeds over and above the amount utilized for the Work, together with any interest thereon, shall be paid over to Landlord and shall be the sole property of Landlord.
15.2 In the event of partial damage or total destruction of the Property or improvements by fire or other casualty, the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions more than 25% of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation rentable square foot area of the Tenant’s use Building occurring (a) during the last two (2) years of the Property for initial term of this lease or of the permitted useFirst Extended Term (as described in Article XXII) or (b) during the last five (5) years of the Second Extended Term (as described in Article XXII), subject Landlord and Tenant shall each have the right to elect to terminate this lease by notice given to the provisions hereof. During the period of repairs or restoration, this Lease shall continue in full force and effect and there shall be no abatement of Rent. If (i) the Property or improvements are so extensively destroyed by fire or other casualty so as to render the Property unsuitable for the Tenant’s use of the Property in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, and (ii) the Landlord’s contractor has notified Landlord that it estimates that the period of time required to repair, reconstruct or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over any and all insurance proceeds related to the Property to Landlord and giving written notice to the Landlord party within ninety (90) days after the date of such the damage or destruction. In such event the term of this lease shall end on the date of notice with the same effect as if that date was the date stipulated herein as the Expiration Date; except that in the event of termination pursuant to this SectionLandlord's termination, this Lease shall terminate as of, and Fixed Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery as of the date of notice with respect to the undamaged portion of the Building and as of the date of the damage with respect to the unusable portion of the Building. Notwithstanding the above, Tenant shall not be entitled to terminate pursuant to clause (a) if it has exercised its Article XXII extension option for the First Extended Term or the Second Extended Term, as the case may be. In addition, Landlord's notice of termination. If termination in reliance upon the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there circumstances described in clause (a) shall be no abatement ineffective if, within seven (7) days after receipt of Rentsuch notice, and Tenant exercises its option for an extended term.
15.3 In the Landlord shall, as promptly as practicable, repair, reconstruct event the amount of insurance proceeds available following damage to or replace the portions total or partial destruction of the Property or Building and Improvements occurring prior to the improvements destroyed in a good and workmanlike manner so as to provide for the continuation last year of the Tenant’s use 10 year period (as defined in Section 31.1) exceeds the total outstanding mortgage balance held by Lender (as defined in Section 4.9) at the time such insurance proceeds first become available, then Lender shall be permitted to retain that portion of the Property for proceeds which equals the permitted use.mortgage debt. In such event, Landlord shall attempt with reasonable diligence to obtain
Appears in 1 contract
Samples: Lease Agreement (Rayovac Corp)
Destruction or Damage. In the event of partial or total destruction of the Property or improvements by fire or other casualty, the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in in. a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use, subject to the provisions hereof. During the period of repairs or restoration, this Lease shall continue in full force and effect and there shall be no abatement of Rent. If (i) the Property or improvements are so extensively destroyed by fire or other casualty so as to render the Property unsuitable for the Tenant’s use of the Property in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, and (ii) the Landlord’s contractor has notified Landlord that it estimates that the period of time required to repair, reconstruct or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over any and all insurance proceeds related to the Property to Landlord and giving written notice to the Landlord within ninety (90) days after the date of such destruction. In the event of termination pursuant to this Section, this Lease shall terminate as of, and Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there shall be no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use.
Appears in 1 contract
Samples: Lease Agreement (Great White Energy Services, Inc.)
Destruction or Damage. In a. If the event of partial Premises or total destruction the portion of the Property Building necessary for Tenant’s occupancy is damaged by fire, earthquake, act of God, the elements or improvements by other casualty, Landlord shall, subject to the provisions of this Article, promptly repair the damage, if such repairs can, in Landlord’s opinion, be completed within one hundred eighty (180) days. If Landlord determines that repairs can be completed within one hundred eighty (180) days without the payment of overtime, 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 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 one hundred eighty (180) days, Landlord may elect, upon notice to Tenant given within thirty (30) days after the date of such fire or other casualty, the Landlord shallto repair such damage, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use, subject to the provisions hereof. During the period of repairs or restoration, which event this Lease shall continue in full force and effect and there effect, but the Base Rent shall be no abatement of Rentpartially abated as provided in Section 19a. If (i) the Property or improvements are Landlord does not so extensively destroyed by fire or other casualty so elect to make such repairs, this Lease shall terminate as to render the Property unsuitable for the Tenant’s use of the Property in the same manner as the Tenant’s use of the Property at the time 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, and (ii) the in Landlord’s contractor has notified Landlord that it estimates that the period of time required to repairopinion, reconstruct or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed repair thereof cannot be completed within one hundred eighty (180) days, then the Tenant Landlord may terminate this Lease by turning over any and all insurance proceeds related to the Property to Landlord and giving written elect upon notice to the Landlord Tenant given within ninety thirty (9030) days after the date of such destructionfire or other casualty, to repair such damage, ill which event this Lease shall continue in full force and effect, but the Base Rent shall be partially abated as provided in Section 19a. In the event of termination pursuant If Landlord does not elect to this Sectionmake such repairs, this Lease shall terminate as ofof 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 Initial Tenant Improvements 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. 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 Rent 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 be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there shall be have no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted useapplication.
Appears in 1 contract
Destruction or Damage. (a) In the event of partial the Premises or total destruction the portion of the Property or improvements Building necessary for Tenant's use and enjoyment of the Premises are damaged by fire fire, earthquake, act of God, the elements or other casualty, Landlord shall repair the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted usesame, subject to the provisions hereof. During the of this Paragraph hereinafter set forth, if (i) such repairs can, in Landlord's opinion, be made within a period of 180 days after commencement of the repair work, (ii) the cost of repairing damage for which Landlord is not insured shall be less than ten percent (10%) of the then full insurable value of the Premises with respect to repairing any damage to the Premises or five percent (5%) of the then full insurable value of the Building with respect to repairing any damage to other areas of the Building, and (iii) the damage or destruction does not occur during the twelve (12) months of the term of this Lease or any extension thereof. This Lease shall remain in full force and effect except that so long as the damage or destruction is not caused by the fault or negligence of Tenant, its contractors, agents, employees or invitees, an abatement of rental shall be allowed Tenant for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable.
(b) As soon as is reasonably possible following the occurrence of any damage, Landlord shall notify Tenant of the estimated time and cost required for the repair or restoration of the Premises or the portion of the Building necessary for Tenant's occupancy. If, in Landlord's opinion, such repairs cannot be made within 180 days as set forth in subparagraph (a)(i) above, Landlord or restorationTenant may elect by written notice to the other within 30 days after Landlord's notice of estimated time and cost is given, to terminate this Lease effective as of the date of such damage or destruction. If Landlord is not obligated to effect the repair based upon the circumstances set forth in subparagraphs (a)(ii) or (a)(iii) above, Landlord shall have the right to terminate this Lease, by written notice to Tenant within 30 days after Landlord's notice of time and cost is given, effective as of the date of such damage or destruction. If neither party so elects to terminate this Lease, this Lease shall continue in full force and effect and there effect, but the rent shall be partially abated as hereinabove in this Paragraph provided, and Landlord shall proceed diligently to repair such damage.
(c) A total destruction of the Building shall automatically terminate this Lease. Tenant waives California Civil Code Section 1932, 1933, 1941 and 1942 providing for (among other things) termination of hiring upon destruction of the thing hired and the right to make repairs and to vacate the Premises under certain conditions.
(d) In no abatement of Rent. If event shall Tenant be entitled to any compensation or damages from Landlord, specifically including, but not limited to, any compensation or damages for (i) loss of the Property or improvements are so extensively destroyed by fire or other casualty so as to render the Property unsuitable for the Tenant’s use of the Property in the same manner as the Tenant’s use whole or any part of the Property at the time of such fire or other casualtyPremises, and (ii) damage to Tenant's personal property in or improvements to the Premises, or (iii) any inconvenience, annoyance or expense occasioned by such damage or repair (including moving expenses and the expense of establishing and maintaining any temporary facilities).
(e) Landlord’s contractor has notified Landlord that it estimates that , in repairing the period of time Premises, shall not be required to repair, reconstruct repair any injury or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over any and all insurance proceeds related damage to the Property personal property of Tenant, or to Landlord and giving written notice make any repairs to or replacement of any alterations, additions, improvements or fixtures installed on the Landlord within ninety (90) days after the date of such destruction. In the event of termination pursuant to this Section, this Lease shall terminate as of, and Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there shall be no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct Premises by or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use.
Appears in 1 contract
Samples: Office Lease (Zebu)
Destruction or Damage. (a) In the event of partial the Premises or total destruction the portion of the Property or improvements Building necessary for Tenant's use and enjoyment of the Premises are damaged by fire fire, earthquake, act of God, the elements or other casualty, Landlord shall repair the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted usesame, subject to the provisions hereof. During the of this paragraph hereinafter set forth, if (i) such repairs can, in Landlord's opinion, be made within a period of 180 days after commencement of the repair work, (ii) the cost of repairing damage for which Landlord is not insured shall be less than ten percent (10%) of the then full insurable value of the Premises with respect to repairing any damage to the Premises or five percent (5%) of the then full insurable value of the Building with respect to repairing any damage to other areas of the Building, and (iii) the damage or destruction does not occur during the last twelve (12) months of the term of this Lease or any extension thereof. This Lease shall remain in full force and effect except that so long as the damage or destruction is not caused by the fault or negligence of Tenant, its contractors, agents, employees or invitees, an abatement of rental shall be allowed Tenant for such part of the Premises as shall be rendered unusable by Tenant in the conduct of its business during the time such part is so unusable.
(b) As soon as is reasonably possible following the occurrence of any damage, Landlord shall notify Tenant of the estimated time and cost required for the repair or restoration of the Premises or the portion of the Building necessary for Tenant's occupancy. If, in Landlord's opinion, such repairs cannot be made within 180 days as set forth in subparagraph (a)(i) above, Landlord or restorationTenant may elect by written notice to the other within 30 days after Landlord's notice of estimated time and cost is given, to terminate this Lease effective as of the date of such damage or destruction. If Landlord is not obligated to effect the repair based upon the circumstances set forth in subparagraphs (a)(ii) or (a)(iii) above, Landlord shall have the right to terminate this Lease, by written notice to Tenant within 30 days after Landlord's notice of time and cost is given, effective as of the date of such damage or destruction. If neither party so elects to terminate this Lease, this Lease shall continue in full force and effect and there effect, but the rent shall be partially abated as hereinabove in this paragraph provided, and Landlord shall proceed diligently to repair such damage.
(c) A total destruction of the Building shall automatically terminate this Lease. Tenant waives California Civil Code Sections 1932, 1933, 1941 and 1942 providing for (among other things) termination of hiring upon destruction of the thing hired and the right to make repairs and to vacate the Premises under certain conditions.
(d) In no abatement of Rent. If event shall Tenant be entitled to any compensation or damages from Landlord, specifically including, but not limited to, any compensation or damages for (i) loss of the Property or improvements are so extensively destroyed by fire or other casualty so as to render the Property unsuitable for the Tenant’s use of the Property in the same manner as the Tenant’s use whole or any part of the Property at the time of such fire or other casualtyPremises, and (ii) damage to Tenant's personal property in or improvements to the Premises, or (iii) any inconvenience, annoyance or expense occasioned by such damage or repair (including moving expenses and the.-expense of establishing and maintaining any temporary facilities).
(e) Landlord’s contractor has notified Landlord that it estimates that , in repairing the period of time Premises, shall not be required to repair, reconstruct repair any injury or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over any and all insurance proceeds related damage to the Property personal property of Tenant, or to Landlord and giving written notice make any repairs to or replacement of any alterations, additions, improvements or fixtures installed on the Landlord within ninety (90) days after the date of such destruction. In the event of termination pursuant to this Section, this Lease shall terminate as of, and Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there shall be no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct Premises by or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use.
Appears in 1 contract
Samples: Office Lease (Intek Information Inc)
Destruction or Damage. In the event of partial or total destruction of that the Property or improvements Leased Premises shall be completely destroyed by fire or other casualtycasualty or shall be so damaged that repairs and restoration cannot be accomplished within a period of one hundred eighty (180) days from the date of such destruction or damage as determined by the Landlord, then either party may terminate this Lease by providing written notice of the same to the other party within thirty (30) days of the issuance of Landlord's Restoration Notice (as defined below) and, upon such termination, each party shall be relieved of any further obligation to the other, except that the Tenant shall be liable for and shall promptly pay the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property any rent then in arrears or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted use, subject Landlord shall promptly rebate to the provisions hereofTenant a pro rata portion of any rent paid in advance. During In the event the Leased Premises shall be so damaged that repairs and restoration can be accomplished within a period of repairs one hundred eighty ( 180) days from the date of such destruction or restorationdamage as determined by the Landlord, this Lease shall continue in full force effect in accordance with its terms; such repairs and effect restoration shall, unless otherwise agreed by the Landlord and there the Tenant, be performed promptly by the Landlord as closely as practicable to the original specification (utilizing therefor the proceeds of the insurance applicable thereto without any apportionment thereof for damages to the leasehold interest of the Tenant in the Leased Premises), and until such repairs and restoration have been accomplished, a portion of the rent shall be no abatement xxxxx equal to the proportion of Rentthe Leased Premises rendered unusable by the damage. Within thirty (30) days of the date of any loss or damage, the Landlord shall notify the Tenant of the amount of time needed by the Landlord to repair or restore the damage, loss or destruction ("Landlord's Restoration Notice"). If (i) the Property or improvements are Landlord fails to so extensively destroyed by fire or other casualty so as to render the Property unsuitable for notify the Tenant’s use of the Property in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, and (ii) the Landlord’s contractor has notified Landlord that it estimates that the period of time required to repair, reconstruct or replace the portions of the Property or improvements destroyed, so as to provide for the continuation of the Tenant’s use in the same manner as the Tenant’s use of the Property at the time of such fire or other casualty, shall exceed one hundred eighty (180) days, then the Tenant may terminate this Lease by turning over any and all lease in the same manner as though the damage or destruction would have taken greater than one hundred eighty ( 180) days to repair or restore. It is understood that the Landlord's obligation to restore, replace or rebuild the Leased Premises shall not exceed in amount the sum of the insurance proceeds related paid to the Property it and/or released to Landlord it by any mortgagee with which settlement was made. The Tenant agrees to execute and giving written notice deliver to the Landlord within ninety (90) days after all instruments and documents necessary to evidence the date of fact that the right to such destruction. In insurance proceeds is vested in the event of termination pursuant to this Section, this Lease shall terminate as of, and Rent shall be appropriately apportioned through and abated from and after, the first rental payment date occurring after the delivery of the notice of termination. If the Tenant has the option to terminate this Lease pursuant to this Section but elects not to so terminate, there shall be no abatement of Rent, and the Landlord shall, as promptly as practicable, repair, reconstruct or replace the portions of the Property or the improvements destroyed in a good and workmanlike manner so as to provide for the continuation of the Tenant’s use of the Property for the permitted useLandlord.
Appears in 1 contract
Samples: Commercial Lease Agreement