Common use of Destruction Clause in Contracts

Destruction. If the Leased Premises shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement.

Appears in 2 contracts

Samples: Lease Agreement (Iomega Corp), Lease Agreement (Iomega Corp)

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Destruction. If the Leased Premises shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) destroyed by fire or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by other casualty not resulting from the negligence of Tenant or its Tenant's employees, agents, agents or invitees, or concessionaires, there and as a result thereof shall be no abatement of rent. Unless this Lease is terminated untenantable as reasonably determined by Landlord, Base Rent shall be suspended until the Premises shall have been restored to a tenantable condition; provided, however, that Landlord may notify Tenant that the Premises will not be repaired, in which event this Lease shall terminate and neither party shall have any further liability to the other except for liabilities relating to the period prior to termination. If in the reasonable estimate of Landlord and Tenant, it will take more than 180 days to restore the Premises to a tenantable condition, Tenant may, within thirty (30) clays of the occurrence of such damage, terminate the Lease by written notice to Landlord and neither party shall have any further liability to the other except for liabilities relating to the period prior to termination. If, however, such damage or destruction does not render the Premises untenantable as reasonably determined by Landlord, Landlord shall repair the same or cause the same to be repaired following receipt of insurance proceeds from Tenant to the extent such funds are available or from the Landlord's insurance if the damage is to the portion of the Office Park covered by insurance purchased by the Landlord. If such damage is caused by Tenant, Tenant's employees, agents or invitees, then the full amount of rent shall continue to be due, whether or not the Premises can be or are occupied and all such damage shall be repaired at the expense of the Tenant. Tenant shall repair and refixture promptly reimburse Landlord for all expenses incurred by the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior Landlord for repairs to the destruction or casualty and Premises for which the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementis responsible hereunder.

Appears in 2 contracts

Samples: Square Office (Technest Holdings Inc), Deed of Lease (Technest Holdings Inc)

Destruction. If the Leased Demised Premises shall be partially damaged by any casualty insured against insurable under any the Landlord’s insurance policy maintained by Landlordpolicy, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, same and until repair is complete the Basic Annual Rent and Additional Base Rent shall be abated proportionately as to that portion of the Leased Demised Premises rendered untenantable. Notwithstanding If the foregoing, if Demised Premises (a) the Leased Premises by reason of such occurrence are is rendered wholly untenantable, untenantable or (b) the Leased Premises should be damaged as a result of a risk which is not covered by Landlord’s insurance or (c) should be damaged in whole or in part during the last six (6) months year of the term or of any renewal term hereof, or (cd) the Leased building of which it is a part, whether the Demised Premises is damaged or not or all of the building which then comprise the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) percent or more of the then-then monetary value thereof, or (e) if any or all of the buildings or common areas of the Building cannot in the reasonable judgment of Landlord be operated as an integral unit, then and or in any of such events, either Landlord may either elect to repair the damage or Tenant may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Demised Premises to Landlord. Tenant's ’s liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice the event or damage. The foregoing provisions notwithstanding, Tenant shall not have the right to cancel this Lease in the event of cancellationsuch destruction if Landlord shall notify Tenant within sixty (60) days after such event that Landlord intends to rebuild the Demised Premises to its condition prior to such destruction, and shall completely restore the building to a tenantable condition within 180 days after Landlord notifies Tenant of its intention to rebuild the Demised Premises to its condition prior to such destruction. In the event Landlord elects to repair any damage, the damage any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Demised Premises have been repaired. If the any damage is caused by the negligence of Tenant or its employees, agentsthe damages shall be repaired by Landlord, inviteesupon receipt of the insurance proceeds, or concessionaires, but there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement.

Appears in 2 contracts

Samples: Lease (Medical Solutions Management Inc.), Lease (Certified Diabetic Services Inc)

Destruction. If 17.01 In the Leased Premises shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt event of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion (a) a partial destruction of the Leased Premises rendered untenantable. Notwithstanding or the foregoing, if (a) building of which the Leased Premises by reason of such occurrence are rendered wholly untenantablea part (hereinafter called the "building") during the lease term which requires repairs to either the Leased Premises or the building, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term building being declared unsafe or of unfit for occupancy by any renewal hereofauthorized public authority for any reason other than Tenant's act, use or (c) occupation which declaration requires repairs to either the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such eventsbuilding, Landlord may either elect shall forthwith make repairs, provided repairs can be made within three-hundred sixty (360) days under the laws and regulations of authorized public authorities, but partial destruction (including any destruction necessary in order to repair the damage make repairs required by any declaration) shall in no way annul or may cancel void this Lease. In making repairs Landlord shall be obligated to replace only such glazing as shall have been damaged by fire and other damaged glazing shall be replaced by Tenant. If repairs cannot be made within three-hundred sixty (360) days, Landlord may, at its option, make same within a reasonable time, this Lease by notice of cancellation within ninety (90) days after such event continuing in full force and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellationeffect. In the event that Landlord elects does not so elect to make repairs, or which repairs cannot be made within three-hundred sixty (360) days, or repairs cannot be made under current laws and regulations, this Lease may be terminated at the option of either party after the three-hundred sixty (360) day period. In the event of any dispute between Landlord and Tenant relative to the provisions of this paragraph, they may each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding on both Landlord and Tenant who shall bear the cost of such arbitration equally between them. Landlord shall not be required to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that property installed in the Leased Premises have been repairedby Tenant. If Tenant waives any right under applicable laws inconsistent with the damage is caused by the negligence terms of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementparagraph.

Appears in 2 contracts

Samples: Lease Agreement (Albecca Inc), Lease Agreement (Albecca Inc)

Destruction. If the Leased Premises premises or the building wherein the same are situated shall be partially destroyed by fire or other casualty, or be so damaged by any casualty insured against under any insurance policy maintained by thereby that they are untenantable and cannot be rendered tenantable within one hundred eighty (180) days from the date of such destruction or damage in the reasonable opinion of the Landlord, Landlord shallshall so notify Tenant in writing within thirty (30) days after the date of such destruction or damage, upon receipt and either Landlord or Tenant may terminate this lease by giving written notice to the other within thirty (30) days after the date of the insurance proceedsfirst notice. If neither party elects to terminate this lease, repair or if the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent damage or destruction shall not be abated proportionately such as to that portion permit termination of the Leased Premises rendered untenantable. Notwithstanding the foregoinglease as above provided, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantableLandlord shall with due diligence, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) any insurance proceeds received by Landlord, or more to the extent of insurance proceeds which would have been received by Landlord but for Landlord's failure to maintain the insurance required of Landlord pursuant to this Lease, repair said premises, and a proportionate reduction shall be made in the rent herein corresponding to the time during which and to the portion of the then-monetary value thereofpremises of which Tenant shall be deprived of possession, then as reasonably determined by Landlord. The provisions of Subdivision 2 of Section 1932 of the California Civil Code, and in any of Subdivision 4 of Section 1933 of that Code, shall not apply to this lease, and Tenant waives the benefits of such eventsprovisions. In repairing the premises, Landlord may either elect to repair use designs, plans and specifications other than those used in the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expireoriginal construction, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as may alter or relocate any or all of the day following Landlord's giving notice of cancellationbuilding, including the premises, provided that the premises as altered or relocated shall be in all material respects reasonably comparable to the premises as defined herein. In Leasehold improvements installed in the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice premises by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or at its employees, agents, invitees, or concessionaires, there expense shall be no abatement of rent. Unless this Lease is terminated repaired and rebuilt by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior subject to the destruction or casualty and same requirements applicable to the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementpremises under this paragraph.

Appears in 2 contracts

Samples: Sublease Agreement (E Stamp Corp), Sublease Agreement (Keynote Systems Inc)

Destruction. If the Leased Premises shall be partially damaged or the Building is destroyed by any fire, earthquake, or other casualty insured against under any insurance policy maintained by to the extent that they are untenantable in whole or in part, then Landlord may, at Landlord's option, proceed with reasonable diligence to rebuild and restore the Premises or such part thereof, provided that within thirty (30) days after such destruction or injury, Landlord shallshall in writing notify Tenant of Landlord's intention to do so. During the period from destruction or damage until restoration, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent rent shall be abated proportionately in the same ratio as to that portion of the Leased Premises rendered untenantablewhich Landlord determines is unfit for occupancy shall bear to the whole Premises. Notwithstanding If Landlord shall fail to notify Tenant, then this Lease shall, at the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months expiration of the term or time for the giving of any renewal hereofnotice as herein provided, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then deemed terminated and in any such events, at an end. Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects not be required to repair any injury or damage by fire or other cause, or to make any repairs or replacements of any panels, decoration, office fixtures, paintings, floor coverings, or any other property installed in the Premises by Tenant. The Tenant shall not be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Premises, Tenant's personal property, or any inconvenience or annoyance occasioned by such damage, repair, reconstruction, or restoration. Notwithstanding any abatement of rent shall end five (5) days after notice by Landlord provision to Tenant the contrary, in the event that the Leased Premises have been repaired. If and the property cannot be repaired or restored to a condition that would allow Tenant to continue its operations within 120 days from the date of such damage is caused by the negligence of Tenant or its employees, agents, inviteesdestruction, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlordif the Premises are not so repaired or restored within such 120 day period, Tenant shall repair and refixture have the interior of the Leased Premises in a manner and in at least a condition equal right to that existing prior terminate this Lease upon notice to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementLandlord without any further liability.

Appears in 2 contracts

Samples: Lease (Emulex Corp /De/), Vixel Corp

Destruction. If In the Leased Premises event of damage causing a partial destruction of the premises during the term of this lease from any cause and in the sole judgment of Lessor repairs can be completed within one hundred eighty (180) days from the date of the damage under the applicable laws and regulations of governmental authorities, Lessor shall repair said damage within a reasonable time, but such partial destruction shall not invalidate this lease, except that Lessee, while such repairs are being made shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, entitled to a proportionate reduction of Basic Rent based upon receipt of the insurance proceeds, repair extent which the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantablepremises not useable by Lessee bears to the total area of the premises, provided that Lessor shall have no obligations in the event of damage or destruction by act or negligence of Lessee, his agents, employees and invitees. Notwithstanding If in the foregoingsole judgment of Lessor such repairs cannot be made within one hundred eighty (180) days, if (a) Lessor may, at its option, make the Leased Premises by reason of such occurrence are rendered wholly untenantablerepairs within a reasonable time, this lease continuing in full force and effect and the Basic Rent to be proportionately abated as provided in the previous paragraph, or (b) Lessor may elect not to make such repairs in which case this lease may be terminated at the Leased Premises should in whole option of either party by notice given at any time after Lessor elects not to make such repairs. In respect to any partial destruction which Lessor is obligated to repair or in part during may elect to repair under the last six (6) months terms of this paragraph, the term or provisions of any renewal hereof, statute or (c) law permitting Lessee to terminate this lease are waived by Lessee. In the Leased Premises or event that the Building (whether the Leased Premises are damaged or not) should be damaged building is destroyed to the extent of fifty thirty-three and one-third percent (5033-1/3%) or more of the then-monetary value then replacement cost thereof, then and in any such events, Landlord Lessor may either elect to terminate this lease, whether the premises are injured or not. A total destruction of the premises or of the building in which the premises are located shall terminate this lease. If repairs to the premises are effected by Lessor, Lessee, at its sole expense, shall replace and repair promptly its trade fixtures, equipment and other property of Lessee located on the premises. Any other provision in this Lease to the contrary notwithstanding, if the premises, access to the premises and/or any part of the project that provides essential services to the premises is damaged in whole or in part from any cause and it is estimated that the time period to repair and restore the damage will be 180 days or may cancel more from the date of the damage using standard working methods and procedures, then Lessee shall have the right to terminate this Lease by delivering written notice to that effect to Lessor. Similarly, if any damage to the premises, access to the premises and/or any part of cancellation the project that provides essential services to the premises is damaged in whole or in part from any cause and such damage is not in fact fully repaired and restored within ninety 180 days from the date of the damage (90) days after such event irrespective of any estimated time for completion of the repair and thereupon restoration), then Lessee shall have the right to terminate this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination by delivery of this Lease shall cease as of the day following Landlord's giving written notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior effect to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementLessor.

Appears in 2 contracts

Samples: Medb Building Lease (Virtual Radiologic CORP), Medb Building Lease (Virtual Radiologic CORP)

Destruction. If the Leased Demised Premises shall be partially damaged by any casualty insured against insurable under any Landlord's insurance policy maintained by Landlordpolicy, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, same and until repair is complete the Basic Annual Rent and Additional Rent minimum rent shall be abated proportionately as to that portion of the Leased Demised Premises rendered untenantableuntenable. Notwithstanding If the foregoing, if (a) the Leased Demised Premises by reason of such occurrence are rendered wholly untenantable, untenable or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Demised Premises are damaged or not) , if all of the buildings which then comprise the Complex should be damaged to the extent of fifty seventy-five percent (50%) or more of the then-then monetary value thereof, or seventy-five percent of the buildings or common areas of the Complex are damaged, whether or not the Demised Premises are damaged to such an extent that the Complex cannot, in the sole judgment of the Landlord, be operated as an integral unit, then and or in any such eventsevent, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety one hundred eighty (90180) days after such event and thereupon this Lease lease shall expire, and Tenant shall vacate and surrender the Leased Demised Premises to Landlord. Tenant's liability for rent upon the termination of this Lease lease shall cease as of the day following the event or damage. Unless this lease is terminated by Landlord's giving notice , Tenant shall hold the proceeds of cancellationall insurance carried by Tenant on its property and improvements in trust for the purpose of repair and replacement. In the event Landlord elects to repair any damage, the damage any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Demised Premises have been repaired. If the any damage is caused by the negligence of Tenant or its employees, agentsthe damages shall be repaired by Landlord, inviteesupon receipt of insurance proceeds, or concessionaires, but there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement.

Appears in 2 contracts

Samples: Business Lease (Amazon Herb Co), Business Lease (Amazon Herb Co)

Destruction. If In the Leased event the Premises shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair and/or Common Area is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should destroyed in whole or in part during from any cause, except for routine maintenance and repairs and incidental damage and from destruction caused from vandalism and accidents for which Tenant is responsible under Paragraph 9, neither Landlord nor Tenant shall have the last six (6) months right to terminate this Lease except upon the occurrence of limited circumstances provided hereinbelow, and Landlord shall be obligated to rebuild or restore the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are and/or Common Area so damaged or not) should be damaged destroyed to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect its condition prior to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event destruction at Landlord's sole cost and thereupon this Lease shall expireexpense, and with the exception that Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability be solely responsible for rent upon the termination of this Lease shall cease as all or such portion of the day following Landlord's giving notice deductible amount of cancellationany insurance coverage as is then reasonably allocable to the rebuilding or restoration of the Premises under the insurance policies then being carried by Landlord pursuant to Paragraph 15 hereof. In the event any other portion of the Complex is damaged or destroyed (such as either of the other two buildings in the Complex), Landlord elects shall not be obligated hereunder to repair any damagerebuild or restore the same, any abatement but shall be obligated to cause such other portion of rent the Complex to be restored to a safe and aesthetically pleasing condition. Tenant shall end five be entitled to a reduction in Rent after the occurrence of such damage and while such rebuilding or restoration is being made in the proportion that the area of the Building rendered untenantable by such damage or destruction bears to the total area of the Building. Landlord shall within thirty (530) days after notice the occurrence of such damage or destruction, provide Tenant with Landlord's contractor's estimate of the time required to complete the rebuilding or restoration of the Premises or the Common Area. If it is reasonably estimated by Landlord to Tenant Landlord's contractor that the Leased rebuilding or restoration will exceed thirteen (13) months following the date of the occurrence of such damage or destruction, then Tenant shall have the right to terminate this Lease by giving written notice to Landlord within fifteen (15) days following receipt of Landlord's estimated time to rebuild or restore the Premises have been repairedand/or Common Area. Notwithstanding anything herein to the contrary, Landlord's obligation to rebuild or restore the Building shall be limited to the Building and Interior Improvements (and any subsequent alterations, additions or improvements thereto) as they existed as of the date of such damage or destruction, but excluding (i) any Lab Equipment or any alterations, additions or improvements that are particular to using any portion of the Premises as a lab as distinguished from using it as an office, and (ii) any restoration of Tenant's trade fixtures, equipment, inventory or merchandise (with the items reflected in clauses (i) and (ii) collectively referred to as the "Excluded Items"). If Landlord does not complete the damage is rebuilding or restoration within thirteen (13) months following the date of destruction (such period of time to be extended for delays caused by the negligence fault or neglect of Tenant or its employeesbecause of Acts of God, agentsacts of public agencies, inviteeslabor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, or concessionairesother such delays beyond the reasonable control of Landlord or its contractors or subcontractors), there then Tenant shall be no abatement of rent. Unless have the right to terminate this Lease is terminated by Landlord, Tenant shall repair and refixture giving written notice to Landlord within fifteen (15) days after the interior expiration of said thirteen (13) month period (as such period may be extended by any of the Leased Premises in a manner and in at least a condition equal foregoing enumerated excused delays). Landlord shall, within twenty (20) days after the occurrence of any matter which Landlord considers to that existing prior to constitute the destruction or casualty basis for an excused delay, advise Tenant of such occurrence and the proceeds of all insurance carried by Tenant on its property and fixtures shall estimated excused delay that has been or will be held in trust by Tenant for the purpose of said repair and replacementoccasioned thereby.

Appears in 2 contracts

Samples: Lease Agreement (Alza Corp), Alza Corporation Lease Agreement (Alza Corp)

Destruction. In the event the Premises are destroyed or injured by fire or earthquake or other casualty, to the extent that they are untenantable in whole or in part, then Landlord may, at Landlord’s option, proceed with reasonable diligence to build and restore said Premises or such part thereof, provided that within thirty (30) days after such destruction or injury Landlord shall notify Tenant in writing of Landlord’s intention to do so, which notice shall also set forth Landlord’s estimated time frame for complete restoration of the Premises. If more than forty percent (40%) the Leased Premises shall is unuseable and Landlord’s notice provides that repairs necessary to complete restoration of the Premises cannot be partially damaged by any casualty insured against under any insurance policy maintained by made within two hundred and seventy (270) days, or in the event Landlord commences restoration of the Premises and does not complete the same within two hundred and seventy (270) days from the date Landlord commences restoration, Tenant may terminate the Lease effective upon Landlord, Landlord shall, upon ’s receipt of Tenant’s notice. During the insurance proceedsperiod from destruction or damage to restoration, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent rent shall be abated proportionately in the same ratio as to that portion of the Leased Premises rendered untenantablewhich Landlord determines is unfit for occupancy bears to the whole Premises. Notwithstanding If the foregoingLandlord shall fail to notify Tenant, if (a) then this Lease shall, at the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months expiration of the term or time for the giving of any renewal hereofnotice as herein provided, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, deemed terminated. If Landlord may either elect elects not to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon rebuild as set forth above, this Lease shall expireterminate without further notice, and all amounts paid or payable by Tenant to Landlord shall, where applicable, be prorated accordingly. Tenant shall vacate the Premises and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination all further obligations of this Lease both parties hereunder shall cease (other than those which shall theretofore have accrued), effective as of the day following Landlord's giving notice of cancellation. In date on which Tenant vacates the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementPremises.

Appears in 2 contracts

Samples: Letter Agreement (Captaris Inc), Letter Agreement (Captaris Inc)

Destruction. If If, during the Leased Term, the Premises shall be partially damaged by or Project are more than twenty-five percent (25%) destroyed from any casualty insured against under cause, or rendered inaccessible or unusable from any insurance policy maintained by Landlordcause, Landlord shallmay, upon in its sole discretion and without compensation or liability to Tenant, terminate this Lease by delivery of notice of termination to Tenant within thirty (30) days of such event. If, in Landlord's reasonable estimation, the Premises cannot be restored within one hundred twenty (120) days following such destruction, then Landlord shall immediately notify Tenant and Tenant may terminate this Lease by delivery of notice to Landlord within thirty (30) days of receipt of Landlord's notice; otherwise this Lease shall remain in full force and effect. If Landlord does not terminate this Lease and if in Landlord's estimation the insurance proceedsPremises can be restored within one hundred twenty (120) days, repair then Landlord shall commence to restore the Leased Premises, Premises in compliance with then existing laws and until repair is shall complete such restoration with due diligence. In such event this Lease shall remain in full force and effect except that the Basic Annual Rent and Additional Rent then current rent shall be abated proportionately as based on the extent to that portion which the restoration being made by Landlord shall interfere with the business being carried on by Tenant in the Premises. If Landlord does not complete its repair and restoration work of the Leased Premises rendered untenantable. Notwithstanding within one hundred twenty (120) days after the foregoing, if (a) the Leased Premises by reason occurrence of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or destruction, Tenant, at its option, may cancel terminate this Lease by written notice of cancellation to Landlord that the Lease will terminate if repairs or restoration are not completed within ninety thirty (9030) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as date of the day following Landlord's giving notice of cancellationnotice. In the event Landlord elects will not be required to repair or restore any damage, any abatement of rent shall end five (5) days after notice by Landlord injury or damage to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence property of Tenant or its employeesmake any repairs or restoration to any alterations, agentsadditions, inviteesfixtures, or concessionairesimprovements installed in the Premises by or at the expense of Tenant; however, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Landlord and Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal will reasonably cooperate with each other to that existing prior to the destruction make such repairs or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementrestoration.

Appears in 1 contract

Samples: Homegrocer Com Inc

Destruction. (a) If the Leased Premises leased premises or any part thereof ----------- shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Landlord and this Lease shall continue in full force and effect except as hereinafter set forth. (b) If the leased premises are partially damaged or rendered partially unusable by any fire or other casualty, the damages thereto shall be repaired by and at the expense of Landlord and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured against under any insurance policy maintained according to the part of the premises which is usable. (c) If the leased premises are totally damaged or rendered wholly unusable by fire or other casualty, then the rent shall be proportionately paid up to the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Landlord, Landlord shall, upon receipt of subject to Landlord's right to elect not to restore the insurance proceeds, repair same as hereinafter provided. (d) If the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence leased premises are rendered wholly untenantable, unusable or (b) whether or not the Leased Premises should leased premises are damaged in whole or in part during part) if the last six (6) months of the term building shall be so damaged that Landlord shall decide to demolish it or of any renewal hereofto rebuild it, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any of such events, Landlord may either elect to repair the damage or may cancel terminate this Lease lease by written notice of cancellation to Tenant, given within ninety (90) days after such event fire or casualty, specifying a date for the expiration of the lease, which date shall not be more than sixty (60) days after the giving of such notice, and thereupon upon the date specified in such notice the term of this Lease shall expire, expire as fully and Tenant shall vacate and surrender completely as if such date were the Leased Premises to Landlord. Tenant's liability date set forth above for rent upon the termination of this Lease and Tenant shall cease as of forthwith quit, surrender and vacate the day following premises without prejudice however, to Landlord's giving rights and remedies against Tenant under the Lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Landlord shall serve a termination notice as provided for herein, Landlord shall make the repairs and restorations under the conditions of cancellation(b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Landlord's control. In After any such casualty, Tenant shall cooperate with Landlord's restoration by removing from the event Landlord elects to repair any damagepremises as promptly as reasonably possible, any abatement all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability of rent shall end resume five (5) days after written notice by from Landlord to Tenant that the Leased Premises have been repairedpremises are substantially ready for Tenant's occupancy. If (e) Nothing contained hereinabove shall relieve Tenant from liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is caused in force and collectible and to the extent permitted by law, Landlord and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the negligence payment of additional premiums, then the party benefiting from the waiver shall pay such premium within ten (10) days after written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the provisions hereof with respect to waiver of subrogation. Tenant acknowledges that Landlord will not carry insurance on Tenant's furniture and/or furnishings or its employeesany fixtures or equipment, agents, inviteesimprovements, or concessionaires, there shall appurtenances removable by Tenant and agrees that Landlord will not be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall obligated to repair and refixture damage thereto or replace the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementsame.

Appears in 1 contract

Samples: Indenture of Lease (Curagen Corp)

Destruction. “Destruction” shall mean damage or Destruction to the Premises or the Hangar to the extent that the cost of repair is greater than thirty percent (30%) of the fair market value of either immediately prior to such damage or Destruction. If at any time during the Leased Premises shall be partially damaged term of this Lease there is damage to the Hangar or Premises, whether or not an insured loss (including Destruction required by any casualty insured against under any insurance policy maintained by authorized public authority), which may be classified as Destruction, this Lease shall at Landlord’s option, Landlord shall, upon receipt terminate as of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion date of the Leased Premises rendered untenantablesuch Destruction. Notwithstanding Not withstanding the foregoing, if (a) Landlord completes rebuilding of the Leased Premises by reason at Landlord’s option within the Lease term, then Tenant shall have the right to reoccupy the Premises upon the terms and conditions that will be in effect at the time. Landlord reserves the absolute right to make the determination to rebuild or the right not to rebuild the Premises. Subject to the provisions on condemnation and damage near the end of such occurrence are rendered wholly untenantablethe term, or (b) the Leased Premises should in whole or in part if at any time during the last six term of this Lease there is damage which does not fall within the classification of Destruction, unless caused by a negligent or willful act of Tenant (6) months of in which event Tenant shall make the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such eventsrepairs at Tenant’s sole expense), Landlord may either elect to will repair the damage or may cancel this Lease by notice of cancellation such damages within ninety (90) days after such a reasonable time at Landlord’s expense, in which event and thereupon this Lease shall expire, continue in full force and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementeffect.

Appears in 1 contract

Samples: Hangar Lease Agreement

Destruction. 25.1. If the Leased Premises or any other portion of the Shopping Center shall be partially damaged by any fire or other casualty insured against under any Landlord’s insurance policy maintained by Landlordpolicies, Landlord shallthen, upon Landlord’s receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, repair and restore the Leased Premisessame (exclusive of Tenant’s trade fixtures, decorations, signs and until contents) substantially to the condition immediately prior to such damage or destruction, such repair is complete the Basic Annual Rent and Additional Rent or restoration shall be abated proportionately as limited, however, to that portion the extent of the Leased Premises rendered untenantableinsurance proceeds received by Landlord. Notwithstanding the foregoing, if If by reason of such occurrence: (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or ; (b) the Leased Premises should are damaged in whole or in part as a result of a risk which is not covered by Landlord’s insurance policies; (c) the Premises are damaged in whole or in part at any time during the last six (6) months of the term or of any renewal term hereof, or ; (cd) the Leased Premises Building or all of the Building buildings which then comprise the Shopping Center is or are damaged (whether or not the Leased Premises are damaged or notdamaged) should be damaged to the an extent of fifty percent (50%) or more of the then-monetary then replacement value thereof; or (e) any or all of said buildings or the Common Areas of the Shopping Center are damaged (whether or not the Premises are damaged) to such an extent that the Shopping Center cannot, then and in the sole judgment of Landlord, be operated as an integral unit, then, or in any of such events, Landlord may elect either elect to repair the damage as aforesaid or may to cancel this Lease by written notice of cancellation given to Tenant within ninety one hundred twenty (90120) days after the date of such event occurrence, and thereupon this Lease shall expirecease and terminate with the same force and effect as though the date set forth in Landlord’s notice was the date herein fixed for the expiration of the Term hereof, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon Upon the termination of this Lease as aforesaid, Tenant’s liability for the rents reserved hereunder shall cease as of the day following Landlord's giving notice effective date of cancellation. In termination of this Lease, subject, however, to the event Landlord elects to repair any damage, any provisions for the prior abatement of rent hereinafter set forth. Unless this Lease is terminated by Landlord as aforesaid, this Lease shall end five remain in full force and effect, and the parties waive the provisions of any law to the contrary, and Tenant shall repair, restore or replace Tenant’s trade fixtures, decorations, signs and contents in the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the purposes of such repair, restoration or replacement. If by reason of such fire or other casualty the Premises are rendered wholly untenantable, the Fixed Minimum Rent shall be fully abated, or if only partially damaged, the Fixed Minimum Rent shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (5unless Landlord shall elect to terminate this Lease as aforesaid) until fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been repairedsubstantially repaired and restored or until Tenant’s business operations are restored in the entire Premises, whichever shall occur sooner. Tenant shall continue the operation of Tenant’s business in the Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management and, except for such abatement of the Fixed Minimum Rent as hereinabove set forth, nothing herein contained shall be construed to xxxxx Tenant’s obligations for the payment of the Fixed Minimum Rent, Percentage Rent or any other additional rent and charges reserved hereunder, except that the computation of such Percentage Rent shall be based upon the revised Fixed Minimum Rent as the same may be abated. If the such damage is or other casualty shall be caused by the gross negligence of Tenant or its of Tenant’s subtenants, concessionaires, licensees, contractors or invitees or their respective agents or employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by LandlordExcept for the abatement of the Fixed Minimum Rent hereinabove set forth, Tenant shall repair not be entitled to and refixture the interior hereby waives all claims against Landlord for any compensation or damage for loss of use of the Leased whole or any part of the Premises and/or the Common Areas and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair or restoration. The provisions of any statute, rule, regulation, ordinance, order or other law which may be in effect at the time of the occurrence of any such damage or destruction, under which a manner and in at least lease is automatically terminated or a condition equal tenant is given the right to that existing prior to terminate a lease upon the destruction occurrence of any such damage or casualty and the proceeds of all insurance carried destruction, are hereby expressly waived by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementTenant.

Appears in 1 contract

Samples: Carroll Bancorp, Inc.

Destruction. If In the Leased Premises shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) event the Leased Premises or the Building (whether the Leased Premises are damaged by fire or not) should be damaged other perils covered by extended coverage insurance and Landlord receives sufficient proceeds to cover the extent cost of fifty percent replacing the damage and said proceeds are made available by Landlord’s mortgagee (50%) or more of the then-monetary value thereofif any), then and in any such events, Landlord may either elect agrees to promptly repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event same, and thereupon this Lease shall expireremain in full force and effect, and except that Tenant shall vacate and surrender be entitled to a proportionate reduction of the rent while such repairs are being made, such proportionate reduction to be based upon the extent to which the making of such repairs materially interferes with the business carried on by the Tenant in the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repairedPremises. If the damage is caused by due to the negligence fault or neglect of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless Notwithstanding anything to the contrary contained in this Article XII, Landlord shall not have any obligation whatsoever to repair, reconstruct or restore the Premises when the damage resulting from any casualty covered under this Section either destroys twenty five percent (25%) of the Building or occurs during the last twelve (12) months of the Lease Term or any extension thereof, and under either of such circumstances, Landlord shall have the right to terminate this Lease is terminated by Landlordwithout liability or its part. In any event, Landlord will notify Tenant within sixty (60) days of the date of the casualty whether Landlord intends to repair the Building. If, however, Landlord reasonably anticipates that the repairs will not be completed within six (6) months of the date of the casualty, it shall inform Tenant in writing, and Tenant shall have the right to terminate this Lease by written notice within thirty (30) days of receipt of Landlord’s notice. Landlord shall not be required to repair and refixture any damage by fire or other cause, or to make any repairs or replacements of any panels, decoration, office fixtures, railings, floor covering, partitions, or any other property installed in the interior Leased Premises by Tenant. The Tenant shall not be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Leased Premises Premises, Tenant’s personal property or any inconvenience or annoyance occasioned by such damages from Landlord for loss or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration, except in a manner and in at least a condition equal to that existing prior to the destruction event such damages, result from Landlord’s negligence or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementwillful misconduct.

Appears in 1 contract

Samples: Lease Agreement (BMB Munai Inc)

Destruction. If the Leased Demised Premises shall be partially damaged by any casualty insured against insurable under any the Tenant's insurance policy maintained by Landlordpolicy, Landlord Tenant shall, within sixty (60) days or upon receipt of the insurance proceeds, repair whichever is earlier, commence repair, replacement and renewal of the Leased Premisessame, and until repair is complete the Basic Annual Rent and Additional Rent minimum rent shall be abated proportionately as to that portion of the Leased Demised Premises rendered untenantable. Notwithstanding Any such repair, replacement and renewal shall be made based upon plans and contractors approved in writing by Landlord. If the foregoing, if Demised Premises (a) the Leased Premises by reason of such occurrence are is rendered wholly untenantable, untenantable or (b) the Leased Premises should be damaged as a result of a risk which is not covered by insurance or (c) should be damaged in whole or in part during the last six three (63) months of the term or of any renewal hereof, or (cd) the Leased Entire Premises or the Building (whether the Leased Demised Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary then replacement value thereof, or if any or all of the Entire Premises or common areas of the Entire Premises are damaged, whether or not the Demised Premises are damaged to such an extent that the Entire Premises cannot, in the sole judgment of Landlord be operated as an integral commercial unit, then and in any of such events, Landlord may either elect to have Tenant repair the damage or may cancel this Lease by giving Tenant written notice of cancellation within ninety sixty (9060) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Demised Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlordthe event or damage, or Tenant's giving notice of cancellationvacating the Demised Premises, whichever date is later. In the event Landlord elects to have Tenant repair any damagethe damage insurable under Tenant's policies, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Demised Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionairesagents, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair repair, replace, renew and refixture the interior of the Leased Demised Premises in a manner and in to at least a condition equal to that existing prior to the its destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures improvements shall be held in trust by Tenant for the purpose of said repair or replacement. If this Lease is terminated by Landlord as aforesaid, all proceeds from Tenant's insurance coverage in excess of proceeds attributable to the loss of Tenant's property, shall be disbursed and replacementpaid to Landlord, and Tenant hereby assigns the same to the Landlord.

Appears in 1 contract

Samples: Lease Modification Agreement (Mdi Entertainment Inc)

Destruction. 13.1 If the Leased Premises shall be partially damaged by any fire or other casualty and the resulting loss is fully insured against under by any fire and extended coverage insurance policy maintained by covering the Building which Landlord may elect to carry, and if Tenant shall give prompt notice to Landlord of such damage, Landlord, at Landlord's expense, shall repair such damage; subject, however, to the provisions of Section 13.2 and provided that Landlord shallshall have no obligation to repair any damage to or to replace Xxxxxx's Property or any other property or effects of Tenant. Except as otherwise provided in this Article XIII, upon receipt if the entire Premises shall be rendered untenantable by reason of any such damage and Tenant is not occupying and using any part thereof, the Rent shall xxxxx for the period from the date of such damage to the date when Landlord shall have completed its repair of the insurance proceeds, repair the Leased Premises, and until repair is complete if only a part of the Basic Annual Rent and Additional Premises shall be rendered untenantable, the Rent shall be abated proportionately as xxxxx for such period in the proportion that the area of the part of the Premises so rendered untenantable bears to the total area of the Premises, but only to the extent that such untenantability materially interferes with the conduct of Tenant's business on the unaffected portion of the Leased Premises rendered untenantable. Notwithstanding the foregoingPremises; provided, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantablehowever, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereofif, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction date when Landlord shall have completed all of its repairs to the Premises, all or casualty and any part of the proceeds of all insurance carried Premises with respect to which the Rent abates as provided above shall be repaired by Landlord or shall be used or occupied by Tenant on its property and fixtures or any person or persons claiming through or under Tenant or shall cease to cause such material interference, then the Rent attributable to the Premises or such part thereof shall be held in trust by Tenant for reinstated on the purpose date of said repair and replacementany such use, occupancy or tenantability, or cessation of interference.

Appears in 1 contract

Samples: Office Lease (English Language Learning & Instruction System Inc)

Destruction. If the Leased Premises leased premises are totally destroyed by fire or other casualty, this lease shall be partially damaged by any terminate. If such casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt shall render ten (10) percent or less of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion floor space of the Leased Premises rendered untenantableleased premises unusable for the purpose intended, Lessor shall effect restoration of the premises as quickly as is reasonably possible, but in any event within thirty (30) days. Notwithstanding In the foregoing, if event such casualty shall render more than ten (a10) the Leased Premises by reason percent of such occurrence are rendered wholly untenantablefloor space unusable but not constitute total destruction, or (b) the Leased Premises should in whole or in part during the last six (6) months Lessor shall forthwith give notice to Department of the term or specific number of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect days required to repair the damage same. If Lessor under such circumstances shall not give such notice within fifteen (15) calendar days after such destruction, or may cancel this Lease by if such notice of cancellation within shall specify that such repairs will require more than ninety (90) days after to complete from date such event notice is given, Department, in either such event, at its option, may terminate this lease or, upon notice to Lessor, may elect to undertake the repairs itself, deducting the cost thereof from the rental due or to become due under this lease and thereupon this Lease shall expire, any other lease between Lessor and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellationDepartment. In the event Landlord elects of any such destruction other than total, where the Department has not terminated the lease as herein provided, or pursuant to the terms hereof has not elected to make the repairs itself, Lessor shall diligently prosecute the repair of said premises and, in any damageevent, any abatement if said repairs are not completed within the period of rent shall end five thirty (530) days after notice by Landlord to Tenant that for destruction aggregating the Leased Premises have been repaired. If ten (10) percent or less of the damage is caused by the negligence of Tenant or its employees, agents, inviteesfloor space, or concessionaireswithin the period specified in Lessor’s notice in connection with partial destruction aggregating more than ten (10) percent, there the Department shall be no abatement of rent. Unless have the option to terminate this Lease is terminated by Landlordlease or complete the repairs itself, Tenant shall repair deducting the cost thereof from the rental due or to become due under this lease and refixture the interior of the Leased Premises in a manner any other lease between Lessor and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementDepartment.

Appears in 1 contract

Samples: Lessee Lease Agreement

Destruction. 10. If the Leased Premises premises shall be partially damaged by any casualty insured against under any insurance policy maintained by fire or other or other casualty, the damage Shall be repaired at the expense of Landlord, without prejudice to the rights of subrogation, if any, of Landlord's insurer. Landlord shall, upon receipt shall not be required to repair or restore any of the insurance proceedsTenant's property or any alteration, repair or leasehold improvement made by or for Tenant at Tenant's expense. The rent shall xxxxx in proportion to the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantablepremises not usable by Tenant. Notwithstanding Landlord shall not be liable to Tenant for any delay in restoring the foregoingpremises, if (a) Tenant's sole remedy being the Leased Premises by reason right to an abatement of such occurrence rent, as above provided. If the premises are rendered wholly untenantableuntenantable by fire or other casualty and if Landlord shall decide not to restore the premises, or (b) if the Leased Premises should in whole building shall be so damaged that Landlord shall decide to demolish it or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building to rebuild it (whether or not the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such eventspremises have been damaged), Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation my within ninety (90) days after such event and thereupon this Lease shall expire, and fire or other cause give written notice to Tenant shall vacate and surrender of its election that the Leased Premises to Landlord. Tenant's liability for rent upon the termination term of this Lease lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five automatically expire no less than ten (510) days after such notice is given. Notwithstanding the foregoing, each party shall look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Landlord to and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise,. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance and also, provided that such a policy can be obtained without additional premiums. Tenant hereby expressly waives the provisions of Section 227 of the Real Property law and agrees that the Leased Premises have been repaired. If the damage is caused by the negligence foregoing provisions of Tenant or its employees, agents, invitees, or concessionaires, there this Article shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair govern and refixture the interior of the Leased Premises control in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementlieu thereof.

Appears in 1 contract

Samples: Lease (Toymax International Inc)

Destruction. If 17.01 In the Leased Premises shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt case of total destruction of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that or any portion thereof substantially interfering with Tenant's use of the Leased Premises rendered untenantable. Notwithstanding Premises, whether by fire or other casualty, not caused by the foregoingfault or negligence of Tenant, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantableits agents, employees, servants, contractors, subtenants, licensees, customers or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereofbusiness invitees, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expireterminate except as herein provided. If Landlord notifies Tenant in writing within forty-five (45) days of such destruction of Landlord's election to repair said damage, and Tenant shall vacate if Landlord proceeds to and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of does repair such damage with reasonable dispatch, this Lease shall cease as not terminate, but shall continue in full force and effect, except that Tenant shall be entitled to a reduction in the minimum rent in an amount equal to that proportion of the day following minimum rent which the number of square feet of floor space in the unusable portion bears to the total number of square feet of floor space in the Premises. Said reduction shall be prorated so that the rent shall only be reduced for those days any given area is actually unusable. In determining what constitutes reasonable dispatch, consideration shall be given to delays caused by labor disputes, civil commotion, war, warlike operations, invasion, rebellion, hostilities, military or usurped power, sabotage, governmental regulations or control, fire or other casualty, inability to obtain any materials or services, acts of God and other causes beyond Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repairedcontrol. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlordpursuant to this Section 17 and if Tenant is not in default hereunder, Tenant rent shall repair and refixture the interior be prorated as of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds date of all insurance carried by Tenant on its property and fixtures termination, any security deposited with Landlord shall be held in trust by Tenant for the purpose of said repair returned to Tenant, less any reasonable offsets and replacementall rights and obligations hereunder shall cease and terminate.

Appears in 1 contract

Samples: Rexall Sundown Inc

Destruction. If the Leased Premises shall be partially damaged by any casualty insured against under any Landlord’s insurance policy maintained by Landlordpolicy, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until . Until any such repair is complete the Basic Annual Rent and Additional Minimum Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if if: (ai) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (bii) the Leased Premises should be damaged as a result of a risk which is not covered by Landlord’s insurance, or (iii) that Premises should be damaged in whole or in part during the last six three (63) months years of the term or of any renewal hereof, or (civ) the Leased Premises or the Building (building of which it is a part, whether the Leased Premises are damaged or not) , or all of the buildings which then comprise the Shopping Center, should be damaged to the extent of fifty twenty-five percent (5025%) or more of the then-monetary value thereofthen replacement cost of the improvements, or (v) any or all of the buildings or common areas of the Shopping Center are damaged, whether or not the Premises are damaged, to such an extent that the Shopping Center cannot, in the sole judgment of Landlord, be operated as an integral unit, or (vi) by reason of the right of any lender to retain or control the use of any insurance proceeds and the retention of proceeds or the exercise of control makes the repair of the Premises impracticable in the sole judgment of Landlord, then and in any of such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety one hundred eighty (90180) days after such event and thereupon this Lease shall expireterminate, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's ’s liability for rent upon the termination of this Lease shall cease as of the day following Landlord's ’s giving notice of cancellationcancellation and Tenant shall have no further right or interest in the Premises. In the event Landlord elects to repair any damage, any abatement of rent Minimum Rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. Nothing in this Article shall be construed to axxxx or affect Percentage Rent, provided that if Minimum Monthly Rent is abated pursuant to this Article, then “Minimum Monthly Rent” used to calculate the amount of Percentage Rent shall be the Minimum Monthly Rent as abated. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rentMinimum Monthly Rent. Unless Landlord’s obligation to repair under this Lease Article if undertaken, shall extend only to the construction of the basic building and store front and not to the repair or replacement of Tenant improvements. If such repair is terminated undertaken by Landlord, Tenant shall be obligated to repair and refixture re-fixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose benefit of said Landlord to assure fulfillment of Tenant’s repair and replacementreplacement obligations.

Appears in 1 contract

Samples: Lease Agreement (Finwise Bancorp)

Destruction. 19.01 If the Building or Leased Premises or any portion thereof are destroyed by storm, fire, lightning, earthquake or other casualty, Tenant shall immediately notify Landlord. In the event the Building or the Leased Premises cannot, in Landlord's reasonable judgment, be restored within one hundred eighty (180) days of the date of such damage or destruction, this Lease shall terminate as of the date of such destruction, and all rent and other sums payable by Tenant hereunder shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlordaccounted for as between Landlord and Tenant as of that date. Landlord shall notify Tenant within thirty (30) days of the date of the damage or destruction whether the Building and the Leased Premises can be restored within one hundred eighty (180) days. If this Lease is not terminated as provided in this Paragraph, Landlord shall, upon receipt to the extent insurance proceeds payable on account of such damage or destruction are available to Landlord (with the excess proceeds belonging to Landlord), using reasonable diligence, repair, restore, rebuild, reconstruct or replace the damaged or destroyed portion of the insurance proceedsLeased Premises to a condition substantially similar to the condition which existed prior to the damage or destruction. Provided, repair however, Landlord shall only be required to repair, restore, rebuild, reconstruct and replace the base building as shown on Exhibit "B" and detailed in Exhibit "G" ("Landlord's Work"). Tenant shall, at its sole cost and expense, upon completion of the Landlord's Work, repair, restore, rebuild, reconstruct and replace, as required, any and all Tenant Improvements installed in the Leased Premises by Tenant and all trade fixtures, personal property, inventory, signs and other contents in the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion all other repairs not specifically required of the Leased Premises rendered untenantable. Notwithstanding the foregoingLandlord hereunder, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in to at least a the condition equal substantially similar to that existing prior to the damage, provided however, if the destruction has occurred in the lab or casualty the manufacturing area, the Tenant shall have the option to either restore such areas to the condition that existed prior to the damage or restore the damaged area to be standard office space similar to the existing office space within the Leased Premises, the plans and specifications for such office space would require Landlord's prior review and approval. Tenant's obligation to pay Base Rent and additional rent shall xxxxx until the earlier of Tenant's occupancy or sixty (60) days after Landlord has repaired, restored, rebuilt, reconstructed or replaced the Leased Premises, as required herein, in proportion to the part of the Leased Premises which are unusable by Tenant. In the event of any dispute between Landlord and Tenant relative to the provisions of this paragraph, they may each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and the proceeds of all insurance carried by Tenant on its property three arbitrators so selected shall hear and fixtures determine the controversy and their decision thereon shall be held final and binding on both Landlord and Tenant who shall bear the cost of such arbitration equally between them. Landlord shall not be required to repair any property installed in trust the Leased Premises by Tenant. Tenant for waives any right under applicable laws inconsistent with the purpose terms of said repair this paragraph. Notwithstanding the provisions of this paragraph, if any such damage or destruction occurs within the final two (2) years of the term hereof, and replacementsuch damage affects a material portion of the Leased Premises or Tenant's use thereof then Landlord or Tenant may, without regard to the aforesaid 180-day period, terminate this Lease by written notice to the other party.

Appears in 1 contract

Samples: Lease Agreement (Visible Genetics Inc)

Destruction. If Should the Leased Premises shall premises or the building or which the same are a part be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should destroyed in whole or in part during the last six (6) months of the term or of any renewal hereofby fire, earthquake, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should other casualty, so they cannot be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation repaired within ninety (90) working days after to substantially the condition prior to such event and thereupon casualty. Lessor or Lessee may within thirty (30) days thereafter terminate this Lease shall expirelease as of the date of such casualty. If by reason of any laws said building cannot be repaired or restored as a building of the same class, then irrespective of the time in which the building can be repaired or restored, Lessor or Lessee at any time within thirty (30) days of such casualty, may terminate this lease as of the date of such casualty. Upon any damage as aforesaid, and Tenant if the lease be not terminated as provided, Lessor shall vacate with reasonable diligence restore the premises to substantially the condition prior to the casualty, with such changed as may be required, under any laws, ordinances or regulations. If such damage shall have occurred after the commencement of the term, Lessee shall be entitled to a reasonable diminution of the minimum monthly rental hereunder during the time required for restoration, according to the proportion of the premises rendered untenantable. Lessor shall not be liable for any damages resulting to lessee from the repair and surrender the Leased Premises to Landlord. Tenant's liability for rent upon reconstruction of such demised premises or building, or from the termination of this Lease lease as herein provided, not shall cease as Lessee be released thereby or in any such event from any of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damageits obligations hereunder, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior except to the destruction or casualty extent and upon the proceeds of all insurance carried by Tenant on its property and fixtures shall be held conditions expressly stated in trust by Tenant for the purpose of said repair and replacementthis Article.

Appears in 1 contract

Samples: Lease Agreement (Parametric Sound Corp)

Destruction. If the Leased Building is totally or partially destroyed during the Term, rendering the Premises totally or partially inaccessible or unusable, then, subject to the remainder of this Paragraph, (i) Landlord shall promptly commence work necessary to restore the Building to substantially the same condition as it was in immediately before such destruction and shall diligently prosecute such restoration work until completed, (ii) Landlord shall not be partially damaged required to restore Tenant's Alterations or Tenant's Personal Property, unless they are an integral part of the Premises and they are specifically covered by any casualty insured against under any insurance policy maintained proceeds received by Landlord, Landlord shallsuch excluded items being the sole responsibility of Tenant to restore, upon receipt of the insurance proceeds, repair the Leased Premises(iii) such destruction shall not terminate this Lease (except as provided below), and until repair is complete (iv) all obligations of Tenant under this Lease shall remain in effect, except that the Basic Annual Monthly Rent and Additional Rent shall be abated proportionately as to that portion or reduced, between the date of such destruction and the Leased Premises rendered untenantable. Notwithstanding date of Substantial Completion of restoration, by the foregoing, if ratio of (a) the Leased Rentable Square Footage of the Premises rendered unusable or inaccessible by reason of such occurrence are rendered wholly untenantablethe destruction, or to (b) the Leased Rentable Square Footage of the Premises should prior to such destruction. (The term "Substantial Completion" as used herein will mean completed to such an extent that the Premises may be used by Tenant for the Permitted Use, subject only to punchlist or correction items, and the restoration can be finally completed within 60 days and without material interference to Tenant's occupancy and use of the Premises.) Notwithstanding anything to the contrary in whole this Paragraph, either party shall have ten business days from the date of Landlord’s determination that this sentence applies to the subject destruction/reconstruction, in which to terminate this Lease if Landlord determines that (1) it will likely take more than either (A) 330 days following the date of such casualty, or (B) 270 days from obtaining all required permits for such reconstruction, in part which to complete such work, (2) such destruction (which is not de minimus in nature) occurs during the last six (6) months year of the term or of any renewal hereofTerm, or (c3) then-existing laws do not permit such restoration. Additionally, Landlord may, at its election, terminate this Lease by so notifying Tenant in writing on or before the Leased Premises later of 60 days after such destruction or 30 days after Landlord's receipt of the Building proceeds (whether or written notice of the Leased Premises are damaged or notamount of proceeds) should be damaged to the extent of fifty percent from insurance maintained by Landlord, if (50%l) or more such destruction exceeds 20% of the then-monetary replacement value thereofof the Premises, the Building, or the Project, or (ll) Landlord reasonably determines that the cost of such restoration will exceed the amount of insurance proceeds relating to such destruction actually received by Landlord from insurance maintained by Landlord, excluding deductibles, by more than five percent of such cost of restoration. If Landlord or Tenant so terminates this Lease, then (x) Landlord shall have no obligation to restore the Project , (y) Landlord shall retain all insurance proceeds under Landlord’s maintained policies relating to such destruction, and in any such events, Landlord may either elect to repair the damage or may cancel (z) this Lease by notice shall terminate as of cancellation within ninety (90) 30 days after such event notice of termination from Landlord to Tenant. Tenant hereby waives the provisions of California Civil Code Sections 1932(2) and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises 1933(4) or any successor statute with respect to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as any destruction of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repairedPremises. If Landlord restores the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by LandlordPremises following any such destruction, Tenant shall immediately refixturize, re-equip, and (if applicable) restock the Premises and shall re-open the Premises for business as soon thereafter as is reasonably practicable. If Tenant does not intend to so reopen the Premises for business, it must notify Landlord in writing within 20 business days of such damage or destruction, whereupon Landlord may cease its repair work and refixture the interior terminate this Lease. Additionally, if Landlord fails to Substantially Complete such restoration work within two hundred seventy (270) days, Tenant may, by 30 days’ written notice to Landlord delivered after such year (during which period of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementtime such restoration is not Substantially Completed), terminate this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Adamis Pharmaceuticals Corp)

Destruction. If during the Leased Term of this Lease, any portion of the Premises, access to the Premises or any part of the Building which is essential to the use of the Premises is damaged or destroyed and such damage or destruction can, in Landlord’s reasonable estimation, be repaired within 180 days following such damage or destruction, this Lease shall remain in full force and effect and Landlord shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage and shall complete such repair and restoration with due diligence in compliance with all then existing laws. If (1) such damage or destruction cannot, in Landlord’s reasonable estimation, be partially repaired within 180 days following such damage or destruction; or (2) more than forty percent (40%) of the Building is damaged by or destroyed (regardless of its impact on the Premises); or (3) any casualty insured against under any mortgagee of the Building will not allow the application of insurance policy maintained proceeds to be applied to repair and restoration; or (4) the damage or destruction is not covered in full by Landlord’s insurance required by Paragraph 18, Landlord shall, upon receipt or (5) the damage or destruction occurs within the last twelve (12) months of the insurance proceedsTerm of this Lease or any extension hereof, repair then Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within 30 days of the Leased Premisesdate Landlord learns of the damage. In the event of repair, reconstruction and until repair is complete restoration by Landlord as herein provided, the Basic Annual Rent and Additional Rent rent payable under this Lease shall be abated proportionately as with the degree to that portion which Tenant’s use of the Leased Premises rendered untenantable. Notwithstanding is impaired during the foregoing, if (a) the Leased Premises by reason period of such occurrence are rendered wholly untenantablerepair, reconstruction or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant restoration; provided that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rentrent if such damage is the result of Tenant’s negligence or intentional wrongdoing. Unless this Lease Tenant shall not be entitled to any compensation or damages for loss of the use of the whole or any part of the Premises, damage to Tenant’s Personal Property and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. If Landlord is terminated obligated to or elects to repair or restore as herein provided, Landlord shall be obligated to make repair or restoration only to those portions of the Building and the Premises which were originally provided at Landlord’s expense, and the repair and restoration of items not provided at Landlord’s expense shall be the obligation of Tenant. Tenant agrees to coordinate the restoration and repair of those items it is required to restore or repair with Landlord’s repair and restoration work and in coordination with a work schedule prepared by Landlord, Tenant or Landlord’s contractor. Further, Tenant’s work shall repair be performed in accordance with the terms, standards and refixture conditions contained in Paragraph 16 above. The provisions of California Civil Code Section 1932, Subsection 2, and Section 1933, Subsection 4, and any other similarly enacted statute or court decision relating to the interior abatement or termination of a lease upon destruction of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty leased premises, are hereby waived by Tenant; and the proceeds provisions of all insurance carried by Tenant on its property and fixtures this Paragraph 19 shall be held govern in trust by Tenant for the purpose case of said repair and replacementsuch destruction.

Appears in 1 contract

Samples: Letter Agreement (Curon Medical Inc)

Destruction. If (a) During the Leased term hereof, if the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Premises shall be partially so damaged by any fire or other casualty insured against under any that substantial alteration or reconstruction of the Premises (which is in excess of twenty percent (20.00%) of the Premises) shall be required if such damage is not covered by insurance policy maintained carried by Landlord, Landlord shallmay, upon receipt at its option, terminate this Lease and the term and estate hereby granted by notifying Tenant in writing of such termination within forty-five (45) days after the insurance proceedsdate of such damage, repair in which event the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason date of such occurrence are rendered wholly untenantabledamage. If Landlord does not thus elect to terminate this Lease, Landlord shall, within sixty (60) days after the date of such damage, commence to repair and restore the Buildings and shall proceed with reasonable diligence to restore the Buildings (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair or replace any part of Tenant's furniture and furnishings or fixtures and equipment removable by Tenant under the provisions of this Lease, but such work shall not exceed the scope of the work done by Landlord in originally constructing the Buildings. Tenant shall not be entitled to any compensation or damages from Landlord, and Landlord shall not be liable, for any loss of the use of the whole or any part of the Premises, Tenant's personal property, or (b) any inconvenience or annoyance occasioned by such loss of use, damage, repair, reconstruction or restoration, except that, subject to the Leased Premises should in whole or in part provisions of the next sentence, Landlord shall allow Tenant an abatement of Rent on a square footage basis during the last six (6) months of time and to the term extent the Premises are unfit or of any renewal hereof, or (c) unavailable for occupancy. If the Leased Premises or the Building (whether the Leased Premises are damaged by fire or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by other casualty resulting from the negligence of Tenant or its any of Tenant's agents, employees, agents, or invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease and the cost thereof is terminated not covered and funded by insurance maintained by Landlord, Tenant shall be liable to Landlord for the cost and expense of the repair and refixture the interior restoration of the Leased Premises in a manner and in at least a condition equal to that existing prior caused thereby to the destruction extent such cost and expense is not covered by insurance proceeds. Tenant hereby specifically waives any and all rights it may have under any law, statute, ordinance or regulation to terminate the Lease by reason of casualty or damage to the Premises or Buildings, and the proceeds parties hereto specifically agree that the Lease shall not automatically terminate by law upon destruction of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementPremises.

Appears in 1 contract

Samples: Lease Agreement (Access Health Inc)

Destruction. If any substantial portion of any Asset is damaged or ----------- destroyed by fire or any other casualty prior to the Leased Premises Closing Date such that the Asset in question at a particular Site cannot be used in any manner for the purposes intended, Seller shall notify Purchaser thereof and Seller shall have the right, but not the obligation, to undertake the repair or restoration of the Asset so damaged or destroyed. If Seller gives Purchaser notice of such undertaking, such undertaking shall be partially damaged by any casualty insured against under an obligation of Seller hereunder, and the purchase and sale of the Asset in question shall be consummated in accordance with the terms and provisions of this Agreement with no adjustment in the Exchange Consideration and Seller shall receive any insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises proceeds payable by reason of such occurrence are rendered wholly untenantabledamage or destruction. If the repair or restoration is not completed by the scheduled Closing Date, then the Closing Date as to such Asset and Site (but not as to any other Sites or Assets) shall occur ten (10) days after Seller has completed such repairs and has provided notice Purchaser of such completion. If Seller notifies Purchaser that it does not elect to undertake such repair or restoration, Purchaser may, at its election either (a) terminate this Agreement as to the Site on which the Asset in question is located (but not as to any other Sites or Assets) by giving written notice thereof to Seller, in which event, except as expressly provided herein to the contrary, this Agreement shall be of no further force or effect as to the Site on which the Asset in question is located (but not as to any other Sites or Assets) and Purchaser and Seller shall have no further rights, liabilities, duties or obligations hereunder as to the Asset in question (but not as to any other Sites or Assets), or (b) Purchaser may require Seller to (i) convey the Leased Premises should Asset and Site in whole question or the remaining portion thereof as provided herein for the Exchange Consideration set forth in part during the last six (6) months of the term or of any renewal Paragraph 3 hereof, and (ii) transfer and assign all of Seller's right, title and interest in and to any and all insurance proceeds paid (but not yet expended), payable or (c) to be paid in connection with such damage or destruction, and the Leased Premises transaction contemplated herein shall otherwise be consummated as provided in this Agreement. If Seller so notifies Purchaser that it does not undertake to so repair or restore the Building (whether the Leased Premises are damaged or not) should be damaged Asset and Site in question, Purchaser shall notify Seller in writing of its election pursuant to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation immediate preceding sentence within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after such notice by Landlord from Seller, and if Purchaser fails to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employeesso notify Seller within said five (5) day period, agents, invitees, or concessionaires, there Purchaser shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair deemed to have elected to purchase the Asset and refixture the interior of the Leased Premises Site in a manner and in at least a condition equal question pursuant to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement(b) immediately above.

Appears in 1 contract

Samples: Exchange Agreement (Pinnacle Holdings Inc)

Destruction. If during the Leased Term of this Lease, any portion of the Premises, access to the Premises or any part of the Building which is essential to the use of the Premises is damaged or destroyed and such damage or destruction, can, in Landlord's reasonable estimation, be repaired within 180 days following such damage or destruction, this Lease shall remain in full force and effect and Landlord shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage and shall complete such repair and restoration with due diligence in compliance with all then existing laws. If (1) such damage or destruction cannot, in Landlord's reasonable estimation, be partially repaired within 180 days following such damage or destruction; or (2) more than forty percent (40%) of the Building is damaged by or destroyed (regardless of its impact on the Premises); or (3) any casualty insured against under any mortgagee of the Building will not allow the application of insurance policy maintained proceeds to be applied to repair and restoration; or (4) the damage or destruction is not covered in full by Landlord's insurance required by Paragraph 18 (excluding any deductible), or (5) the damage or destruction occurs within the last twelve (12) months of the Term of this Lease or any extension hereof, then Landlord shallmay, upon in its sole discretion, terminate this Lease by delivery of notice to Tenant within 30 days of the date Landlord learns of the damage. If a) the destruction occurs during the last 12 months of the original term, b) any of the conditions in number 1 through 4 above have been met, and c) the Tenant has not exercised its option to renew, the Tenant may exercise such option within three (3) business days of its receipt of Landlord's notice to terminate. Failure by Tenant to exercise its option to renew will render the insurance proceedsoption null and void and the Landlord shall have no further obligation to repair and restore. In the event of repair, repair reconstruction and restoration by Landlord as herein provided, the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent rent payable under this Lease shall be abated proportionately as with the degree to that portion which Tenant's use of the Leased Premises rendered untenantable. Notwithstanding is impaired during the foregoing, if (a) the Leased Premises by reason period of such occurrence are rendered wholly untenantablerepair, reconstruction or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant restoration; provided that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rentrent if such damage is the result of Tenant's negligence or intentional wrongdoing. Unless this Lease Tenant shall not be entitled to any compensation or damages for loss of the use of the whole or any part of the Premises, damage to Tenant's Personal Property and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. If Landlord is terminated obligated to or elects to repair or restore as herein provided, Landlord shall be obligated to make repair or restoration only to those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. Tenant agrees to coordinate the restoration and repair of those items it is required to restore or repair with Landlord's repair and restoration work and in coordination with a work schedule prepared by Landlord, Tenant or Landlord's contractor. Further, Tenant's work shall repair be performed in accordance with the terms, standards and refixture conditions contained in Paragraph 16 above. The provisions of California Civil Code Section 1932, Subsection 2, and Section 1933, Subsection 4, and any other similarly enacted statute or court decision relating to the interior abatement or termination of a lease upon destruction of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty leased premises, are hereby waived by Tenant; and the proceeds provisions of all insurance carried by Tenant on its property and fixtures this Paragraph 19 shall be held govern in trust by Tenant for the purpose case of said repair and replacementsuch destruction.

Appears in 1 contract

Samples: Letter Agreement (Vidamed Inc)

Destruction. If the Leased Premises premises or the building wherein the same are situated shall be partially destroyed by fire or other cause, or be so damaged thereby that they are untenantable and cannot be rendered tenantable within on hundred eighty (180) days from the date of such destruction or damage, this lease may be terminated by any casualty insured against under any insurance policy maintained Landlord or by LandlordTenant by written notice. Within forty-five (45) days from date of such destruction or damaged, Landlord shallshall give written notice to Tenant as to whether or not the premises will be rendered tenantable within one hundred eighty (180) days from the date of such destruction of damage. In case the damage or destruction be not such as to permit termination of the lease as above provided, Landlord shall with due diligence upon receipt of the insurance proceeds, repair the Leased Premisesproceeds render said premises tenantable, and until repair is complete the Basic Annual Rent and Additional Rent a proportionate reduction shall be abated proportionately as made in the rent herein reserved corresponding to that the time during which and to the portion of the Leased Premises rendered untenantablethee premises of which Tenant shall be deprived of possession. Notwithstanding the foregoing, if (a) the Leased Premises by reason The provision of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months Subdivision 2 of Section 1932 of the term or California Civil Code and of any renewal hereofSubdivision 4 of Section 1933 of that code, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged shall no apply to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expirelease, and Tenant waives the benefits of such provisions. Landlord shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects not be required to repair any injury or damage by fire or other cause, or to make any repairs or replacements of any Tenant improvements, panels, decoration, office fixtures, railings, floor covering, partitions, or any other property installed in the Premises by Tenant or by the Landlord on Tenant’s behalf. Tenant shall not be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Premises, Tenant’s personal property or any inconvenience of annoyance occasioned by such damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that repair, reconstruction or restoration, unless the Leased Premises have been repaired. If the damage is destruction was caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement.

Appears in 1 contract

Samples: Steinbeck Plaza Lease (Central Coast Bancorp)

Destruction. If the Leased Premises premises or the building wherein the same are situated shall be partially destroyed by fire or other cause, or be so damaged thereby that they are untenantable and cannot be rendered tenantable within one hundred eighty (180) days from the date of such destruction or damage in the reasonable opinion of the Landlord, Landlord shall so notify Tenant in writing within thirty (30) days after the date of such destruction or damage, and either Landlord or Tenant may terminate this lease by any casualty insured against under any giving written notice to the other within thirty (30) days after the date of the first notice. If neither party elects to terminate this lease, or if the damage or destruction shall not be such as to permit termination of this lease as above provided, Landlord shall with due diligence, to the extent possible with insurance policy maintained proceeds received by Landlord, Landlord shallrepair said premises, upon receipt and a proportionate reduction shall be made in the rent herein corresponding to the time during which and to the extent by which Tenant shall be deprived of possession or the use of the insurance proceedspremises to conduct its business therein, repair as reasonably determined by Landlord. The provisions of Subdivision 2 of Section 1932 of the Leased PremisesCalifornia Civil Code, and until repair is complete of Subdivision 4 of Section 1933 of that Code, shall not apply to this lease, and Tenant waives the Basic Annual Rent benefits of such provisions. In repairing the premises, Landlord may use designs, plans and Additional Rent specifications other than those used in the original construction, and may alter or relocate any or all of the building, including the premises, provided that the premises as altered or relocated shall be abated proportionately in all material respects reasonably comparable to the premises as to that portion of defined herein. Leasehold improvements installed in the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises premises shall be repaired and rebuilt by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged Landlord only to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice insurance proceeds received by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose repair of said repair and replacementsuch improvements.

Appears in 1 contract

Samples: Agreement of Sublease (PRN Corp)

Destruction. If the Leased Premises shall be partially Tower is damaged by any casualty insured against under any insurance policy maintained by Landlordor destroyed such that either SUBLESSOR’s or SUBLESSEE’s equipment cannot remain in continuous operation, Landlord shallSUBLESSOR may, upon receipt of the insurance proceedsin SUBLESSOR’s sole discretion, either: (i) repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall Tower to operating condition if repairs can be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation accomplished within ninety (90) days after whereupon this Sublease shall remain in full force and effect except that rent shall be abated for the period of time that SUBLESSEE cannot operate from the Tower, or (ii) terminate this Sublease upon written notice to SUBLESSEE. In no event shall SUBLESSOR have any obligation to repair, replace or restore the Tower or any of SUBLESSEE’s equipment or improvements to the Subleased Premises. The foregoing notwithstanding, in the event that SUBLESSOR elects not to repair the Tower, SUBLESSEE shall have the right to repair the Tower to operating condition. If SUBLESSOR gives notice to SUBLESSEE of its intention to terminate this Sublease due to damage or destruction as set forth above, SUBLESSEE shall have thirty (30) days following such event notice to provide notice to SUBLESSOR that SUBLESSEE intends to exercise its right to repair the Tower (the “Repair Notice”). If SUBLESSEE gives timely Repair Notice, this Sublease shall remain in full force and thereupon this Lease shall expireeffect, and Tenant shall vacate and surrender with rent abated for the Leased Premises period of time that SUBLESSEE cannot operate due to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as condition of the day following Landlord's giving notice of cancellationTower. In the event Landlord elects that SUBLESSEE repairs the Tower to operating condition, SUBLESSEE shall receive a credit for any rent owed in an amount equal to the reasonable actual cost of such repairs. If SUBLESSEE fails to repair any damage, any abatement of rent shall end five the Tower to operating condition within ninety (590) days after notice by Landlord to Tenant that following the Leased Premises have been repaired. If the damage is caused by the negligence date of Tenant or its employeesRepair Notice, agents, invitees, or concessionaires, there this Sublease shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementterminate.

Appears in 1 contract

Samples: Sublease Agreement

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Destruction. If Either party hereto shall have the right to terminate this Lease in the event of destruction of or damage to the Leased Premises which is so extensive as to make impractical Tenant's use and occupancy thereof for a period reasonably expected to be in excess of sixty (60) days or if more than 50% of the space is reasonably expected to be unavailable for use for in excess of sixty (60) days. Such right of termination must be accomplished through written notice to the other party given within thirty (30) days following the date of destruction or damage. In the event of such termination there shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt a proration of the insurance proceedsrent called for herein and Landlord shall refund any excess previously paid by Tenant. Termination shall be effective, repair and rent shall be prorated as of the date on which written notice of termination is given. In the event of any other destruction of or damage to the Leased Premises, or in the event neither party exercises the above mentioned right of termination, Landlord shall forthwith repair and until reconstruct the Leased Premises. During the period of damage and repair is complete the Basic Annual Rent and Additional Rent rent required to be paid thereunder shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged reduced proportionate to the extent amount of fifty percent (50%) area which Tenant is not able to occupy because of said destruction until such time as said area has been repaired or more of the then-monetary value thereof, then reconstructed and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by written notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord given to Tenant that the Leased Premises have been repairedsuch space is available for occupancy. If the damage is caused by the negligence of Tenant Whether or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless not this Lease is terminated by Landlord, Tenant shall repair and refixture the interior as a result of destruction of or damage to the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of Premises, all insurance carried proceeds realized under policies maintained by Landlord shall be the sole and exclusive property of Landlord and insurance proceeds from policies maintained by Tenant on its or Tenant's personal property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementsolely Tenant's.

Appears in 1 contract

Samples: Lease (Cyberkinetics Neurotechnology Systems, Inc.)

Destruction. If the Leased Premises premises shall be partially damaged by any casualty insured against under any insurance policy maintained by fire or other casualty, the damage shall be repaired at the expense of Landlord, but without prejudice to the rights of subrogation, if any, of Landlord's insurer. Landlord shall, upon receipt shall not be required to repair or restore any of Tenant's property or any alteration or leasehold improvement made by or for Tenant at Tenant's expense. Tenant shall give Landlord prompt notice of any damage or destruction to the insurance proceeds, repair premises. The rent shall xxxxx in proportion to the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantablepremises not usable by Tenant Landlord shall not be liable to Tenant for any delay in restoring the premises, Tenant's sole remedy being the right to an abatement of rent, as above provided. Notwithstanding the foregoing, if If (ai) the Leased Premises by reason of such occurrence premises are rendered wholly untenantableuntenantable by fire or other casualty and if Landlord shall decide not to restore the premises, or (bii) the Leased Premises should in whole premises are rendered wholly untenantable by fire or in part other casualty during the last six twenty-four (624) months of the term or of any renewal hereof, or (ciii) if the Leased Premises building shall be so damaged that Landlord shall decide to demolish it or the Building to rebuild it (whether or not the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereofpremises have been damaged), then and in any such events, Landlord landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and fire or other cause give written notice to Tenant shall vacate and surrender of its election that the Leased Premises to Landlord. Tenant's liability for rent upon the termination term of this Lease lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five automatically expire no less than ten (510) days after such notice is given. Notwithstanding the foregoing, each party shall look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Landlord to and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waive shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance and also, provided that such a policy can be obtained without additional premiums. Tenant hereby expressly waives the provisions of Section 227 of the Real property law and agrees that the Leased Premises have been repaired. If the damage is caused by the negligence foregoing provisions of Tenant or its employees, agents, invitees, or concessionaires, there this Article shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair govern and refixture the interior of the Leased Premises control in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementlieu thereof.

Appears in 1 contract

Samples: Agreement of Lease (Everlast Worldwide Inc)

Destruction. If any substantial portion of any Asset is damaged or ----------- destroyed by fire or any other casualty prior to the Leased Premises Closing Date such that the Asset in question at a particular Site cannot be used in any manner for the purposes intended, Seller shall notify Purchaser thereof and Seller shall have the right, but not the obligation, to undertake the repair or restoration of the Asset so damaged or destroyed. If Seller gives Purchaser notice of such undertaking, such undertaking shall be partially damaged by any casualty insured against under an obligation of Seller hereunder, and the purchase and sale of the Asset in question shall be consummated in accordance with the terms and provisions of this Agreement with no adjustment in the Purchase Price and Seller shall receive any insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises proceeds payable by reason of such occurrence are rendered wholly untenantabledamage or destruction. If the repair or restoration is not completed by the scheduled Closing Date, then the Closing Date as to such Asset and Site (but not as to any other Sites or Assets) shall occur ten (10) days after Seller has completed such repairs and has provided notice Purchaser of such completion. If Seller notifies Purchaser that it does not elect to undertake such repair or restoration, Purchaser may, at its election either (a) terminate this Agreement as to the Site on which the Asset in question is located (but not as to any other Sites or Assets) by giving written notice thereof to Seller, in which event, except as expressly provided herein to the contrary, this Agreement shall be of no further force or effect as to the Site on which the Asset in question is located (but not as to any other Sites or Assets) and Purchaser and Seller shall have no further rights, liabilities, duties or obligations hereunder as to the Asset in question (but not as to any other Sites or Assets), or (b) Purchaser may require Seller to (i) convey the Leased Premises should Asset and Site in whole question or the remaining portion thereof as provided herein for the Purchase Price set forth in part during the last six (6) months of the term or of any renewal Paragraph 3 hereof, and (ii) transfer and assign all of Seller's right, title and interest in and to any and all insurance proceeds paid (but not yet expended), payable or (c) to be paid in connection with such damage or destruction, and the Leased Premises transaction contemplated herein shall otherwise be consummated as provided in this Agreement. If Seller so notifies Purchaser that it does not undertake to so repair or restore the Building (whether the Leased Premises are damaged or not) should be damaged Asset and Site in question, Purchaser shall notify Seller in writing of its election pursuant to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation immediate preceding sentence within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after such notice by Landlord from Seller, and if Purchaser fails to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employeesso notify Seller within said five (5) day period, agents, invitees, or concessionaires, there Purchaser shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair deemed to have elected to purchase the Asset and refixture the interior of the Leased Premises Site in a manner and in at least a condition equal question pursuant to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement(b) immediately above.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pinnacle Holdings Inc)

Destruction. (a) If the Leased Premises leased premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Landlord and this Lease shall continue in full force and effect except as hereinafter set forth. (b) If the leased premises are partially damaged or rendered partially unusable by any fire or other casualty, the damages thereto shall be repaired by and at the expense of Landlord and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured against under any insurance policy maintained according to the part of the premises which is usable. (c) If the leased premises are totally damaged or rendered wholly unusable by fire or other casualty, then the rent shall be proportionately paid up to the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Landlord, Landlord shall, upon receipt of subject to Landlord’s right to elect not to restore the insurance proceeds, repair same as hereinafter provided. (d) If the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence leased premises are rendered wholly untenantable, unusable or (b) whether or not the Leased Premises should leased premises are damaged in whole or in part during part) if the last six (6) months of the term building shall be so damaged that Landlord shall decide to demolish it or of any renewal hereofto rebuild it, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any of such events, Landlord may either elect to repair the damage or may cancel terminate this Lease lease by written notice of cancellation to Tenant, given within ninety (90) days after such event fire or casualty, specifying a date for the expiration of the lease, which date shall not be more than sixty (60) days after the giving of such notice, and thereupon upon the date specified in such notice the term of this Lease shall expire, expire as fully and Tenant shall vacate and surrender completely as if such date were the Leased Premises to Landlord. Tenant's liability date set forth above for rent upon the termination of this Lease and Tenant shall cease forthwith quit, surrender and vacate the premises without prejudice however, to Landlord’s rights and remedies against Tenant under the Lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Landlord shall serve a termination notice as provided for herein, Landlord shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Landlord’s control. After any such casualty, Tenant shall cooperate with Landlord’s restoration by removing from the day following Landlord's giving notice premises as promptly as reasonably possible, all of cancellationTenant’s salvageable inventory and movable equipment, furniture, and other property. In the event Landlord elects to repair any damage, any abatement Tenant’s liability of rent shall end resume five (5) days after written notice by from Landlord to Tenant that the Leased Premises have been repairedpremises are substantially ready for Tenant’s occupancy. If (e) Nothing contained hereinabove shall relieve Tenant from liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is caused in force and collectible and to the extent permitted by law, Landlord and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors’ insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the negligence payment of additional premiums, then the party benefiting from the waiver shall pay such premium within ten (10) days after written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the provisions hereof with respect to waiver of subrogation. Tenant acknowledges that Landlord will not carry insurance on Tenant’s furniture and/or furnishings or its employeesany fixtures or equipment, agents, inviteesimprovements, or concessionaires, there shall appurtenances removable by Tenant and agrees that Landlord will not be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall obligated to repair and refixture damage thereto or replace the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementsame.

Appears in 1 contract

Samples: Lease (Curagen Corp)

Destruction. If In the Leased Premises event of damage causing a partial destruction of the premises or the building and other improvements in which the premises are located during the term or extended term of this Lease from any cause and repairs can be made within one hundred twenty (120) days from the date of the damage under the applicable laws and regulations of governmental authorities, Landlord shall repair said damage promptly and within a reasonable time, but such partial destruction shall in no way void this Lease, except that Tenant shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlordentitled to a proportionate reduction of rent while such repairs are being made, Landlord shall, such proportionate reduction to be based upon receipt of the insurance proceeds, repair extent to which the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantablepremises usable by Tenant bears to the total area of the premises. Notwithstanding If such repairs cannot be made in one hundred twenty (120) days, Landlord may, at Landlord's option, make the foregoingsame within a reasonable time, if this lease continuing in full force and effect and the rent to be proportionately rebated as provided in the previous sentence. In the event that Landlord does not elect to make such repairs which cannot be made in one hundred twenty (a120) the Leased Premises by reason of such occurrence are rendered wholly untenantabledays, or (b) such repairs cannot be made under such laws and regulations, this Lease may be terminated at the Leased Premises should in whole option of either party. In respect to any partial destruction which Landlord is obligated to repair or in part during may elect to repair under the last six (6) months terms of this paragraph, the term or provisions of any renewal hereof, statutes or (c) laws permitting Tenant to terminate this Lease are waived by Tenant. In the Leased Premises or event that the Building (whether building in which the Leased Premises premises are damaged or not) should be damaged situated is destroyed to the extent of fifty thirty-three and one-third percent (5033-1/3%) or more of the then-monetary value then replacement cost thereof, then and in any such events, Landlord may either elect to repair terminate this Lease, whether the damage premises are damaged or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlordnot. Tenant's liability for rent upon the termination of this Lease shall cease as A total destruction of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant premises or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises building in a manner and in at least a condition equal to that existing prior to which the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures premises are located shall be held in trust by Tenant for the purpose of said repair and replacementterminate this Lease.

Appears in 1 contract

Samples: Lease Agreement (Commtouch Software LTD)

Destruction. If the Leased Premises premises shall be partially damaged by any casualty insured against under any insurance policy maintained by fire or other casualty, the damage shall be repaired at the expense of Landlord, but without prejudice to the rights of subrogation, if any, of Landlord's insurer. Landlord shall, upon receipt shall not be required to repair or restore any of Tenant's property or any alteration or leasehold improvement made by or for Tenant at Tenant's expense. Tenant shall give Landlord prompt notice of any damage or destruction to the insurance proceeds, repair premises. The rent shall axxxx in proportion to the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantablepremises not usable by Tenant. Notwithstanding Landlord shall not be liable to Tenant for any delay in restoring the foregoingpremises, if Tenant's sole remedy being the right to an abatement of rent, as above provided. If (ai) the Leased Premises by reason of such occurrence premises are rendered wholly untenantableuntenantable by fire or other casualty and if Landlord shall decide not to restore the premises, or (bii) the Leased Premises should in whole premises are rendered wholly untenantable by fire or in part other casualty during the last six twenty-four (624) months of the term or of any renewal hereof, hereof or (ciii) if the Leased Premises building shall be so damaged that Landlord shall decide to demolish it or the Building to rebuild it (whether or not the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such eventspremises have been damaged), Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and fire or other cause give written notice to Tenant shall vacate and surrender of its election that the Leased Premises to Landlord. Tenant's liability for rent upon the termination term of this Lease lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five automatically expire no less than ten (510) days after such notice by Landlord to is given. Tenant hereby expressly waives the provisions of Section 227 of the Real Property law and agrees that the Leased Premises have been repaired. If the damage is caused by the negligence foregoing provisions of Tenant or its employees, agents, invitees, or concessionaires, there this Article shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair govern and refixture the interior of the Leased Premises control in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementlieu thereof.

Appears in 1 contract

Samples: Agreement of Lease (Omagine, Inc.)

Destruction. If the Leased Premises are rendered partially or totally untenantable by fire or other casualty, and if the damage is repairable within sixty (60) days from the date of the occurrence, then if insurance proceeds are available to pay the full cost of the repairs (less any deductible) Landlord shall repair the Premises with due diligence so long as at least the then-unexpired term of this Lease is at least one hundred eighty (180) days; otherwise Landlord may elect to terminate this Lease by written notice to Tenant. During the repair or construction of the Premises, the base rent shall be partially damaged by any casualty insured against under any insurance policy maintained abated in the proportion that the untenantable portion of the Premises bears to the whole thereof, as determined by Landlord, Landlord shall, upon receipt for the period from the date of the insurance proceeds, repair casualty to the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion completion of the Leased Premises rendered untenantable. Notwithstanding repairs, unless the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by casualty results from the negligence of Tenant or its employeesofficers, contractors, agents, invitees, guests or concessionairesemployees or Tenant’s breach of the terms of this Lease. If the Building is destroyed or materially damaged, there then regardless of whether the Premises are damaged, Landlord may terminate this Lease by written notice to Tenant. Landlord shall advise Tenant of Landlord’s election to repair or terminate by giving notice to Tenant thereof within thirty (30) days after the occurrence of the casualty. In the event of damage by casualty, Tenant shall, at its sole cost and expense, repair all damage to its own personal property and to all improvements which Tenant has made to the Premises. Landlord shall not be liable to Tenant for damages, compensation or other sums for inconvenience, loss of business or disruption arising from any repairs to or restoration of any portion of the Building or Premises. If Landlord elects to repair such damage to the Premises or the Building, such repair shall be no abatement commenced and completed as soon as reasonably possible, subject to delays resulting from circumstances beyond the reasonable control of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement.

Appears in 1 contract

Samples: Lease Guaranty Agreement (iVOW, Inc.)

Destruction. 15.1 If the Leased Premises shall be partially damaged by any fire or other casualty insured against under any by Landlord's insurance policy maintained by covering the Building, and if Tenant shall give prompt notice to Landlord of such damage, Landlord, at Landlord's expense, shall repair such damage; provided, however, that Landlord shallshall have no obligation to repair any damage to or to replace Tenant's Property, upon receipt Alterations or any other property or effects of Tenant. Except an otherwise provided in this Article 15, if the insurance proceedsentire Premises shall be rendered untenantable by reason of any such damage, repair the Leased Premises, and until repair is complete the Basic Annual Rent Base Rental and Additional Rent shall xxxxx for the period from the date of such damage to the date when such damage to the Premises shall have been repaired, and if only a part of the Premises shall be abated proportionately as to rendered untenantable, the Annual Base Rental and Additional Rent shall xxxxx for such period in the proportion that the portion of the Leased Rentable Area of the Premises so rendered untenantable. Notwithstanding untenantable bears to the foregoingtotal Rentable Area of the Premises; provided, if (a) however, if, prior to the Leased Premises by reason date when all of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If , any part of the damage is caused Premises so damaged shall be rendered tenantable or shall be used or occupied by the negligence of Tenant or its employeesany person or persons claiming through or under Tenant, agents, invitees, or concessionaires, there then the amount by which the Annual Base Rental and Additional Rent shall xxxxx shall be no abatement equitably apportioned for the period from the date of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior such use or occupancy to the destruction or casualty and the proceeds of date when all insurance carried by Tenant on its property and fixtures such damage shall be held in trust by Tenant for the purpose of said repair and replacementhave been repaired.

Appears in 1 contract

Samples: Mastech Corp

Destruction. If the Leased Premises premises shall be partially damaged by any casualty insured against insurable under any Landlord’s insurance policy maintained by Landlordpolicy, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, same and until repair is complete the Basic Annual Rent and Additional Rent minimum rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantableuntenable. Notwithstanding If the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, untenable or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) , if all of the buildings which then comprise the Complex should be damaged to the extent of fifty seventy-five percent (50%) or more of the then-then monetary value thereof, or seventy-five percent of the buildings or common areas of the Complex are damaged, whether or not the Premises are damaged to such an extent that the Complex cannot, in the sole judgment of the Landlord, be operated as an integral unit, then and or in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety one hundred eighty (90180) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's ’s liability for rent upon the termination of this Lease shall cease as of the day following the event or damage. Unless this Lease is terminated by Landlord's giving notice , Tenant shall hold the proceeds of cancellationall insurance carried by Tenant on its property and improvements in trust for the purpose of repair and replacement. In the event Landlord elects to repair any damage, the damage any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the any damage is caused by the negligence of Tenant or its employees, agentsthe damages shall be repaired by Landlord, inviteesupon receipt of the insurance proceeds, or concessionaires, but there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement.

Appears in 1 contract

Samples: Standard Lease Agreement (Royal Strategies & Solutions, Inc.)

Destruction. If In the Leased event of total or partial destruction of the Premises shall or to the Building and Common Area which prevents Tenant’s beneficial use of the Premises caused by a loss required to be partially damaged by any casualty insured against under any Landlord’s property insurance policy maintained by Landlordpursuant to Section 12.6 hereof, Landlord shall, upon receipt of the insurance proceeds, shall forthwith repair the Leased Premisessame; provided, and until repair is complete however, that if the Basic Annual Rent and Additional Rent shall repairs cannot be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation made within ninety (90) days after such event the date of destruction, under the then applicable laws and thereupon regulations of Federal, State, County and Municipal authorities and in the light of the extent of damage and the then condition of the labor market and availability of materials and supplies, as reasonably and in good faith estimated by an architect retained by Landlord, then either party may elect to terminate this Lease by written notice to the other given within ten (10) days after Landlord provides Tenant with written notice of the estimated time to complete the repairs. Landlord shall retain the architect as soon as is practicable after the occurrence of the damage and shall provide the architect’s estimate of the time to complete the repairs. If Landlord is required to make repairs, this Lease shall expirecontinue in full force and effect and the rent shall be proportionately reduced while repairs are being made, and Tenant such reduction shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent be based upon the termination extent to which the damage and making of repairs shall interfere with the business carried on by Tenant in the Premises. If Landlord should elect or be obligated pursuant to this Lease Section 14 to repair because of any damage or destruction, Landlord’s obligation shall cease as be limited solely to restoration of the day following Landlord's giving notice of cancellation. In Building to the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord condition provided to Tenant that on the Leased Commencement Date and shall not extend to any leasehold improvements or alterations in the Premises have been repaired. If made by Tenant during the damage is caused Term, furniture, equipment, supplies, trade fixtures or other personal property owned or leased by the negligence of Tenant or Tenant, its employees, agentscontractors, inviteesinvitees or licensees. 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 concessionairesdestruction of, there all or any part of the Premises, the Building or any other portion of the Property. Any statute or regulation of the state in which the Building is located including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, shall be have no abatement of rent. Unless application to this Lease is terminated by Landlord, Tenant shall repair and refixture the interior or any damage or destruction to all or any part of the Leased Premises in a manner and in at least a condition equal to that existing prior to Premises, the destruction Building or casualty and any other portion of the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementProperty.

Appears in 1 contract

Samples: Lease (Applied Micro Circuits Corp)

Destruction. In the event the Demised Premises are damaged by fire, earthquake, enemy, act of God or the elements or other casualty, the Sublessor, unless it shall otherwise elect as hereinafter provided, shall take commercially reasonable, good faith steps to have the Master Lessor repair the same with reasonable dispatch after written notice of the damage. If such damage is so extensive as to render the Leased Demised Premises untenantable, but the election is made to nevertheless repair same, then the rent shall be abated to an extent corresponding with the time during which and the extent to which said Demised Premises may have been untenantable. If such repairs, however, are delayed because of the Sublessee's failure to adjust the Sublessee's own insurance claim, no rental reduction shall be allowed beyond a reasonable time allowed for such adjustment. If, however, such damage or destruction to said Demised Premises shall be partially damaged caused by any casualty insured against under any insurance policy maintained by Landlordnegligence or intentional, Landlord shall, upon receipt improper conduct on the part of the insurance proceedsSublessee or the Sublessee's agents, repair servants, employees, visitors or licensees, then, notwithstanding such damage or destruction, the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent Sublessee shall be abated proportionately as to that liable for the rent during the unexpired portion of the Leased demised term without abatement unless this Sublease is terminated by mutual agreement of the parties. The Sublessor shall have the right to determine, within a reasonable time after such occurrence regardless of its cause, whether to demolish, rebuild or reconstruct the building containing the Demised Premises rendered untenantable. Notwithstanding and, in the foregoing, if (a) the Leased Premises by reason event of such occurrence are rendered wholly untenantabledecision by the Sublessor to so demolish, rebuild or (b) reconstruct, then, upon notice given by the Leased Premises should Sublessor to the Sublessee, this Sublease shall terminate on a date to be specified in whole or in part during such notice as if that date had been originally fixed as the last six (6) months expiration date of the term here demised and the rent shall be adjusted as of the time of the occurrence of such damage or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged destruction. The Sublessee shall give immediate notice to the extent Sublessor in case of fifty percent such damage or destruction. Notwithstanding anything else herein to the contrary, in the event the Demised Premises cannot, with reasonable effort, be repaired with one hundred twenty (50%120) or more of the then-monetary value thereofdays, then and in Sublessee may, upon not less than thirty (30) days' prior written notice to Sublessor, terminate this Sublease, provided that any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation must be given within ninety thirty (9030) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant Sublessor advises Sublessee that the Leased Demised Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall cannot be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementrepaired within one hundred twenty (120) days.

Appears in 1 contract

Samples: Sublease Agreement (Papa Johns International Inc)

Destruction. If during the Leased Term of this Lease, any portion of the Premises, access to the Premises or any part of the Building which is essential to the use of the Premises is damaged or destroyed and such damage or destruction can, in Landlord’s reasonable estimation, be repaired within 180 days following such damage or destruction, this Lease shall remain in full force and effect and Landlord shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage and shall complete such repair and restoration with due diligence compliance with all then existing laws. If (1) such damage or destruction cannot, in Landlord’s reasonable estimation, be partially repaired within 180 days following such damage or destruction; or (2) more than forty percent (40%) of the Building is damaged by or destroyed (regardless of its impact on the Premises); or (3) any casualty insured against under any mortgages of the Building will not allow the application of insurance policy maintained proceeds for repair and restoration; or (4) the damage or destruction is not covered in full by Landlord’s insurance required by Paragraph 18, Landlord shall, upon receipt or (5) the damage or destruction occurs within the last twelve (12) months of the insurance proceedsTerm of this Lease or any extension hereof, repair then Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within 30 days of the Leased Premisesdate Landlord _______ of the damage. In the event of repair, reconstruction and until repair is complete restoration by Landlord as herein provided, the Basic Annual Rent and Additional Rent rent payable under this Lease shall be abated proportionately as with the degree to that portion which Xxxxxx’s use of the Leased Premises rendered untenantable. Notwithstanding is impaired during the foregoing, if (a) the Leased Premises by reason period of such occurrence are rendered wholly untenantablerepair, reconstruction or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant restoration; provided that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rentrent if such damage is the result of Tenant’s negligence or intentional wrongdoing. Unless this Lease Tenant shall not be entitled to any compensation or damages for loss in the use of the whole or any part of the Premises, damage to Tenant’s Personal Property and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration, provided, however, that Landlord shall, use reasonable efforts not to interfere with Xxxxxx’s use of the premises during normal business hours consistent with any construction effort. If Landlord is terminated obligated to or elects to repair or restore as herein provided, Landlord shall be obligated to make repair or restoration only to those portions of the Building and the Premises which were originally provided at Landlord’s expense, and the repair and restoration of items not provided at Landlord’s expense shall be the obligation of Tenant. Xxxxxx agrees to coordinate the restoration and repair of those items it is required to restore or repair with Landlord’s repair and restoration work and in coordination with a work schedule prepared by Landlord, Tenant or Landlord’s contractor. Further, Xxxxxx’s work shall repair be performed in accordance with the terms, standards and refixture conditions contained in Paragraph 16 above. The provisions of California Civil Code Section 1932, Subsection 2, and Section 1933, Subsection 4, and any other similarly enacted statute or court decision relating to the interior abatement or termination of a lease upon destruction of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty leased premises, are hereby waived by Xxxxxx; and the proceeds provisions of all insurance carried by Tenant on its property and fixtures the Paragraph 19 shall be held govern in trust by Tenant for the purpose case of said repair and replacementsuch destruction.

Appears in 1 contract

Samples: Office Lease (Placer Sierra Bancshares)

Destruction. If the Leased Demised Premises shall be partially damaged by any casualty insured against insurable under any the Landlord's insurance policy maintained by Landlordpolicy, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, same with reasonable speed. and until repair is complete a just and proportionate part of the Basic Annual Rent and Additional Rent rent shall be abated proportionately as until so repaired. The obligation of Landlord hereunder shall be limited to that portion of the Leased Premises rendered untenantable. Notwithstanding basic building, store front and the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or replacement of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of interior work originally installed by Landlord. If more than fifty percent (50%) percent of the Demised Premises shall be rendered untenantable or should be damaged as a result of a risk which is not covered by Landlord's insurance, or if fifty (50%) percent or more of the then-monetary value thereofrentable area of the Center shall be damaged or destroyed by fire or other cause, notwithstanding that the Demised Premises may be unaffected by such event. then and in or In any such events, Landlord may either elect to 10 repair the damage or may cancel this Lease by notice of cancellation case within ninety (90) days after such event and thereupon this Lease shall expire, of said occurrence by notice of Cancellation to Tenant and Tenant shall vacate and surrender the Leased Premises to LandlordDemised Premises. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following the event or damage. Unless this Lease is terminated by Landlord's giving notice . Tenant shall hold the proceeds or all insurance carried by Tenant on its property and improvements in trust for the purpose of cancellationrepair and replacement. In in the event Landlord elects to repair any damage, the damage any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Demised Premises have been repaired. If the any damage is caused by the negligence of Tenant or its employees, agentsthe damages shall be repaired by Landlord, invitees, or concessionaires, upon receipt of the Insurance proceeds. but there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement.

Appears in 1 contract

Samples: Center Lease (Rose Group of Nevada)

Destruction. A. If the Leased Premises premises shall be partially damaged or rendered wholly untenantable by fire or other casualty and Landlord shall not elect to terminate this lease as provided below in this Article 11, the damage shall be repaired at the expense of Landlord. Landlord shall not be required to repair or restore any casualty insured against under of Tenant’s Property or any insurance policy maintained alteration or leasehold improvement made by or for Tenant at Tenant’s expense, unless same is covered by Landlord, ’s casualty insurance for the building. Tenant shall give Landlord shall, upon receipt prompt notice of any damage or destruction to the insurance proceeds, repair premises. The rent shall axxxx in proportion to the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding premises not usable by Tenant until the foregoing, if first to occur of (ai) the Leased Premises by reason of such occurrence are rendered wholly untenantabledate which is ninety (90) days after the date Landlord substantially completes Landlord’s restoration and repair work hereunder, or (bii) the Leased Premises should in whole date Tenant resumes occupancy of all or in part during the last six (6) months of the term or demised premises for its business purposes. Landlord shall not be liable to Tenant for any delay in restoring the premises, Tenant’s sole remedy being the right to an abatement of any renewal hereofrent, as above provided. If the building shall be so damaged that Landlord shall decide to demolish it or (cif substantially demolished as a result of such fire or other casualty) the Leased Premises or the Building to rebuild it (whether or not the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such eventspremises have been damaged), Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and fire or other cause give written notice to Tenant shall vacate and surrender of its election that the Leased Premises to Landlord. Tenant's liability for rent upon the termination term of this Lease lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five automatically expire no less than ten (510) days after such notice by is given; provided, however, that in no event may Landlord to so terminate this lease unless Landlord also terminates the leases covering all or substantially all other office space in the building. Tenant hereby expressly waives the provisions of Section 227 of the Real Property Law and agrees that the Leased Premises have been repaired. If the damage is caused by the negligence provisions of Tenant or its employees, agents, invitees, or concessionaires, there this Article shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair govern and refixture the interior of the Leased Premises control in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementlieu thereof.

Appears in 1 contract

Samples: Non Disturbance and Attornment Agreement (Coty Inc /)

Destruction. If the Leased Premises premises shall be partially damaged by any casualty insured against under any insurance policy maintained by fire or other casualty, the damage shall be repaired at the expense of Landlord, but without prejudice to the rights of subrogation, if any, of Landlord's insurer. Landlord shall, upon receipt shall not be required to repair or restore any of Tenant's property or any alteration or leasehold improvement made by or for Tenant at Tenant's expense. Tenant shall give Landlord prompt notice of any damage or destruction to the insurance proceeds, repair premises. The rent shall xxxxx in proportion to the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantablepremises not usable by Tenant. Notwithstanding Landlord shall not be liable to Tenant for any delay in restoring the foregoingpremises, if Tenant's sole remedy being the right to an abatement of rent, as above provided. If (ai) the Leased Premises by reason of such occurrence premises are rendered wholly untenantableuntenantable by fire or other casualty and if Landlord shall decide not to restore the premises, or (bii) the Leased Premises should in whole premises are rendered wholly untenantable by fire or in part other casualty during the last six twenty-four (624) months of the term or of any renewal hereof, or (ciii) if the Leased Premises building shall be so damaged that Landlord shall decide to demolish it or the Building to rebuild it (whether or not the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such eventspremises have been damaged), Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and fire or other cause give written notice to Tenant shall vacate and surrender of its election that the Leased Premises to Landlord. Tenant's liability for rent upon the termination term of this Lease lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five automatically expire no less than ten (510) days after such notice by Landlord to is given. Tenant hereby expressly waives the provisions of Section 227 of the Real Property Law and agrees that the Leased Premises have been repaired. If the damage is caused by the negligence foregoing provisions of Tenant or its employees, agents, invitees, or concessionaires, there this Article shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair govern and refixture the interior of the Leased Premises control in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementlieu thereof.

Appears in 1 contract

Samples: Arotech Corp

Destruction. If the Leased Premises shall be partially damaged by any fire or other casualty required to be insured against under any Landlord’s insurance policy maintained by policies, then upon Landlord, Landlord shall, upon ’s receipt of the insurance proceeds, Landlord may except as otherwise provided herein, promptly repair and restore the same (exclusive of Tenant’s lighting and trade fixtures, furniture, furnishings, personal property, decorations, signs and contents) substantially to the condition thereof immediately prior to such damage or destruction limited, however, to the extent of the insurance proceeds actually received by Landlord therefore. Landlord, at its sole discretion, may elect either to repair the Leased Premisesdamage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within ninety (90) days after the date of such occurrence, and until repair thereupon this Lease shall cease and terminate with the same force and effect as though the date set forth in the Landlord said notice were the date herein fixed for the expiration of the Lease Term. If by reason of such fire or other casualty the Premises is complete rendered wholly untenable, the Basic Annual Rent and Additional Rent “minimum rent” shall be abated, or if only partially damaged, such rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantableuntenable. Notwithstanding Tenant shall not be entitled to and hereby waives all claims against Landlord for any compensation or damage for loss of use of the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in any part during the last six (6) months of the term Premises and/or for any inconvenience or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in annoyance occasioned by any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant destruction, repair or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementrestoration.

Appears in 1 contract

Samples: Office Lease (FMC GlobalSat Holdings, Inc.)

Destruction. If In case of damage by fire or other casualty to the Leased Premises Demised Premises, Tenant shall be partially required to pay rent covering only that part of the Demised Premises that remains tenantable; based on the ratio that the amount of square foot area remaining that can be occupied bears to the total square foot area of all of the Demised Premises. If during the term of this Lease the entire Demised Premises or any substantial part thereof shall be so damaged by fire or other casualty as to be untenantable, then unless said damage can be repaired within ninety (90) days thereafter as herein specified, either party hereto, upon written notice to the other party, given at any casualty insured against under time following the expiration of such ninety (90)-day period may terminate this Lease in which case the rent and additional rent shall be apportioned and paid to the date of said fire or other casualty. The period of ninety (90) days shall be extended for such time that Landlord is delayed in substantially completing such repair or restoration by causes such as strikes, unavailability of materials or any insurance policy maintained other cause which is beyond the reasonable control of Landlord. No compensation or claim or diminution of rent will be allowed or paid, by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantableinconvenience, annoyance or (b) injury to business, arising from the Leased Premises should necessity may occur, as determined in whole the sole discretion of Landlord. Landlord shall have no obligation to replace or in repair Tenant's equipment fixtures or personal property which is to be insured by Tenant. For purposes of this paragraph, a substantial part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty shall mean ten percent (5010%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementDemised Premises.

Appears in 1 contract

Samples: Lease Agreement (American Reprographics CO)

Destruction. If the Leased Project is totally or partially destroyed during the Term, rendering the Premises totally or partially inaccessible or unusable, then, subject to the re mainder of this Paragraph, (i) Landlord shall promptly commence work necessary to restore the Project to substantially the same condition as it was in immediately before such destruction and shall diligently prosecute such restoration work until completed, (ii) Landlord shall not be required to restore Tenant’s Alterations or Tenant’s Personal Property, unless they are specifically covered by insurance proceeds received by Landlord, such excluded items being the sole responsibility of Tenant to restore, (iii) such destruction shall not terminate this Lease, and (iv) all obligations of Tenant under this Lease shall remain in effect, except that the Basic Monthly Rent shall be partially damaged abated or reduced, between the date of such destruction and the date of completion of restoration, by any casualty insured against under any the ratio of (a) the Rentable Area of the Premises rendered unusable or inaccessible by the destruction, to (b) the Rentable Area of the Premises prior to such destruction. Notwithstanding anything to the contrary in this Lease, Landlord may, at its election, terminate this Lease by so notifying Tenant In writing on or before the later of 120 days after such destruction or 60 days after Landlord’s receipt of me proceeds from insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises, and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (aA) the Leased Premises by reason of then-existing laws do not permit such occurrence are rendered wholly untenantablerestoration, or (bB) the Leased Premises should in whole or in part such destruction occurs during the last six (6) months year of the term or of any renewal hereofTerm, or (cC) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, destruction Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and /s/ JC Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement./s/ RCB

Appears in 1 contract

Samples: Office Lease (Captiva Software Corp)

Destruction. Lessee shall maintain a policy of fire and extended coverage insurance covering the replacement value of all of Lessee's improvements, equipment and fixtures. If any portion or all of the Leased Premises shall be partially demised premises is damaged by fire or casualty not caused by the fault or neglect of Lessee, Lessee's agents, customers or invitees, and this Lease is not terminated pursuant to any casualty insured against under any insurance policy maintained by Landlordprovisions of this Lease, Landlord shall, upon receipt rent shall xxxxx from the date of the insurance proceeds, repair occurrence in a proportion that the Leased Premises, and until repair is complete area of the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises demised premises rendered untenantable. Notwithstanding untenantable for the foregoing, if (a) permitted use bears to the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months entire area of the term demised premises. This abatement shall continue until the demised premises shall be rebuilt or repaired. If fire or other casualty is caused by the fault or neglect of any renewal hereof, Lessee or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease Lessee's agents rent shall expire, and Tenant shall vacate and surrender the Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellationnot xxxxx. In the event Landlord of damage or destruction to 25%, or more, of the demised premises, or 34%, or more, of the entire Shopping Center by fire or other casualty, Lessor or Lessee shall have the option to cancel this Lease, exercisable upon giving notice of cancellation to the other party within ninety days following such occurrence, and in the event this Lease is so terminated, the rent shall be apportioned from the date of the occurrence of the damage or destruction. In the event all or any portion of the demised premises is damaged by fire or other casualty and this Lease is not terminated as above provided, Lessor shall repair and rebuild the demised premises or such portion to its or their condition immediately prior to the commencement of this lease term. Such repair will be commenced within a reasonable time after the occurrence. Lessor shall not be obligated to expend any sums for repair or rebuilding which are greater than the net proceeds of any insurance policy carried by Lessor. In the event Lessor elects to repair any damageor rebuild, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repaired. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant Lessee shall repair or rebuild its improvements, fixtures and refixture equipment to the interior of the Leased Premises in a manner and in at least a condition equal to that conditions existing immediately prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacementsuch occurrence.

Appears in 1 contract

Samples: Lease (Eyecity Com Inc)

Destruction. If the Leased Premises shall be partially damaged by any casualty which is insured against under any insurance policy maintained by Landlord, Landlord shall, to the extent of and upon receipt of of, the insurance proceeds, repair the Leased Premises, and until portion of the Landlord’s Construction Obligations damaged by such casualty. Until such repair is complete complete, the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, or (b) the Leased Premises should in whole or in part during the last six (6) months of the term or of any renewal hereof, or (c) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, then and in any such events, Landlord may either elect to repair the damage or may cancel this Lease by notice of cancellation within ninety (90) days after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the Leased Premises to LandlordLandlord if any of the following occur: (a) the Leased Premises by reason of such occurrence are rendered wholly untenantable, (b) the Leased Premises should be damaged as a result of a risk which is not covered by insurance, (c) the Leased Premises should be damaged in whole or in part during the last six (6) months of the term or of any renewal hereof, (d) the Leased Premises or the Building (whether the Leased Premises are damaged or not) should be damaged to the extent of fifty percent (50%) or more of the then-monetary value thereof, or (e) the proceeds of such insurance are not sufficient to repair the Leased Premises to the extent required above (including any deficiency as a result of a mortgage lender’s election to apply such proceeds to the payment of the mortgage loan). Tenant's ’s liability for rent upon the termination of this Lease shall cease as of the day following Landlord's ’s giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises have been repairedrepaired as required herein. If the damage is caused by the negligence of Tenant or its employees, agents, invitees, or concessionaires, there shall be no abatement of rent. Unless this Lease is terminated by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall be held in trust by Tenant for the purpose of said repair and replacement.

Appears in 1 contract

Samples: Lease Agreement (Broadview Institute Inc)

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