Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below. B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy. C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction. D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from the date of the damage, Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises. E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice. F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 2 contracts
Samples: Triple Net Building Lease Agreement (Sumo Logic, Inc.), Triple Net Building Lease Agreement (Sumo Logic, Inc.)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.destruction, or
C. In the event (b) Terminate this Lease (providing that the Premises are damaged or destroyed from any insured peril to the extent of less than fifty thirty-three and one third percent (5033 1/3%) or more of the then replacement cost cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing within thirty (30) days from the destruction of the PremisesPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s expenseits expense except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in Rent from the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence date of such damage or destruction, provide provided Tenant with written notice is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the time required for Premises rendered untenantable by such repair damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoesembargos, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to repair rebuild or restore shall be limited to the Premises Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant’s sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended canceled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions provision of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of law changes, any references an uninsured event or if insurance proceeds are insufficient to outdated laws shall refer cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the closest replacement laws throughout this lease as determined foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Ruckus Wireless Inc)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant mayis responsible under Paraxxxxx 0, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shallXxxxxxxx xxx, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.option:
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%a) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild Rebuild or restore the Premises to their condition prior to the damage or destruction., or
D. In (b) Terminate this Lease (providing that the event that, pursuant Premises is damaged to any the extent of 33-1/3% of the foregoing provisions, replacement cost). If Landlord chooses to rebuild or restore the Premises, Landlord shall, does not give Tenant notice in writing within thirty (30) days after from the occurrence destruction of such the Premises of its election to either rebuild and restore them, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, except for any deductible, which is the responsibility of Tenant, promptly to rebuild or restore the premises to their condition prior to the damage or destruction, provide . Tenant with written notice shall be entitled to a reduction in rent while such repair is being made in proportion that the area of the time required for Premises rendered untenantable by such repair damaged bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of not less than 33-1/3% of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined Lease, whether the Premises by Landlordinjured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent (100%) of the rebuilding costs net of the deductible.
Appears in 2 contracts
Samples: Lease Agreement (PLX Technology Inc), Lease Agreement (PLX Technology Inc)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. 24.1. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premisescause, Landlord may, at Landlord’s expense, promptly rebuild its option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction., or
D. In (b) Terminate this Lease. If Landlord does not give Tenant notice in writing within thirty (30) days from the event that, pursuant to any destruction of the foregoing provisionsPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord chooses shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises, Landlord shallincluding leasehold improvements installed by Landlord, within thirty (30) days after to their condition prior to the occurrence of such damage or destruction, provide . Tenant with written notice shall be entitled to a reduction in rent while such repair is being made in the proportion that the area of the time required for Premises rendered untenantable by such repair damage bears to the total area of the Premises. If Landlord does not complete the rebuilding or restoration (“Landlord’s Repair Notice”). If such period is longer than within two hundred ten seventy (210270) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving written notice to Landlord within fifteen (15) days after said 270-day period. Notwithstanding anything herein to the contrary, Landlord’s obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, merchandise or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant’s sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premisesprovisions above.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below24.2. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and (and) Section 1933, Subdivision 4 of the California Civil Code.
Section 24.3. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of thirty three and one-third percent (33-1/3%) or more of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined Lease, whether the Premises be injured or not. In the event the destruction of the Premises is caused by Tenant, Tenant shall pay the deductible portion of Landlord’s insurance proceeds.
Appears in 2 contracts
Samples: Sublease (Aravive, Inc.), Sublease (Versartis, Inc.)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured perilin whole or in part form any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused form vandalism and accidents for which Tenant is responsible for under Paraxxxxx 00, Xxxxxxxx xxx, at its option:
(a) Rebuild or Tenant may, upon written notice restore the Premises to the othercondition prior to the damage or destruction; or
(b) Terminate this Lease, given (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days after from the occurrence destruction of such damage the Premises of its election to either rebuild and restore them, or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premisesthem, in which event Landlord shallagrees, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in rent while such repair is being made in the event that, pursuant to any proportion that the area of the foregoing provisions, Landlord chooses Premises rendered untenantable by such damage bears to rebuild or restore the total area of the Premises, . If Landlord shall, within thirty initially estimates that the rebuilding or restoration will exceed one hundred eighty (30180) days after or if Landlord does not complete the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary. Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of not less than 33 1/8 % of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined by LandlordLease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible.
Appears in 2 contracts
Samples: Lease Agreement (Ipass Inc), Lease Agreement (Ipass Inc)
Destruction. A. In the event that more than a quarter any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. . In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. , not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord mayshall, at Landlord’s 's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two hundred ten seventy (210270) days from the date issuance of the damagea building permit, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 2 contracts
Samples: Lease Agreement (Verisign Inc/Ca), Lease Agreement (Verisign Inc/Ca)
Destruction. A. (a) In the event that more than the Premises suffers (I) an uninsured casualty, or (ii) a quarter casualty which cannot be repaired within one hundred eighty (180) days from the date of destruction under the laws and regulations of state, federal, county or municipal authorities, or other authorities with jurisdiction, either party may terminate this lease as at the date of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, damage upon written notice to the other, given other party within thirty forty-five (3045) days after following the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D belowcasualty.
B. (b) In the event of a casualty which destroys the Premises are damaged from any insured peril to the extent of fifty percent or portion thereof and which may be repaired within ninety (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (21090) days from the date of the damage, Tenant mayor, within thirty (30) days after receipt of Landlord’s noticein the alternative, in the event Landlord does not elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease under the terms of Paragraph 23(a) above, then this Lease shall continue in full force and effect and the Landlord does shall forthwith undertake to make such repairs to reconstitute the Premises to as near the condition as existed prior to the casualty as practicable. Such partial destruction shall in no way annul or void this Lease, except that Tenant shall be entitled to a proportionate abatement of rent pursuant to Paragraph 23(e) (provided that the damage is not substantially complete the repair and restoration result of the Premises within two negligence or the willful misconduct of Tenant or Tenant's employees, contractors, licensees or invitees).
(2c) months after In the expiration event of the estimated period a partial destruction of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building beyond the exterior boundary of the Premises that is necessary for Tenant’s use 's occupancy to an extent not exceeding twenty-five percent (25%) of the Premisesfull insurable value thereof and if the damage thereto is such that the Building may be repaired, are damaged or destroyed during the last twelve (12) months of the Termreconstructed, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord restored within thirty a period of ninety (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (21090) days from the date of damage the happening of such casualty and Landlord will receive insurance proceeds sufficient to cover the cost of such repairs, Landlord shall commence and proceed diligently with the work of repair, either party hereto may terminate this Lease by written notice to reconstruction, and restoration and the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain continue in full force and effect; . If such work of repair, reconstruction and restoration is such as to require a period longer than ninety (90) days or exceeds twenty-five (25%) of the full insurable value thereof or if said insurance proceeds will not be sufficient to cover the cost of such repairs, Landlord may either elect to so repair, reconstruct, and restore and the Lease shall continue in full force and effect or landlord may elect not to repair, reconstruct and restore and the Lease shall in such event terminate. Under any of the conditions, Landlord shall give written notice to Tenant of its intention within the ninety (90) day period. If Landlord elects not to restore the Building, this Lease shall be deemed to have terminated as of the date of such partial destruction. At all events, a total destruction of the Building shall terminate the Lease.
(d) Upon any termination of this Lease under any of the provisions of this paragraph, the parties shall be released thereby without further obligation to the other from the date possession of the Premises is surrendered to Landlord except for items which have theretofore accrued and are then unpaid.
(c) In the event of repair, reconstruction and restoration as herein provided, however, that during any period of repairs or restoration, rent and all other amounts the rental provided to be paid by Tenant on account of the Premises and under this Lease shall be abated proportionately in proportion to the area ratio which Tenant's use of the Premises rendered is impaired during the period of such repair, reconstruction or restoration. Tenant shall not reasonably suitable be entitled to any compensation or damages for loss in the conduct use of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion whole or any part of the Premises it is required to rebuildand/or any inconvenience or annoyance occasioned by such damage, to install its propertyrepair, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator)reconstruction or restoration. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.10
Appears in 1 contract
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Xxxxxxxxx 0, Xxxxxxxx may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event (providing that the Premises are is damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) 33-1/3% of the then replacement cost cost), or
(b) Terminate this Lease. If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the PremisesPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s its expense, except for any deductible, which is the responsibility of Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in rent while such repair is being made in the event that, pursuant to any proportion that the area of the foregoing provisions, Landlord chooses Premises rendered untenantable by such damage bears to rebuild or restore the total area of the Premises, . If Landlord shall, initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within thirty one hundred eight (30180) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoesembargos, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of not less than 33-1/3% of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined by LandlordLease, whether the Premises be injured or not.
Appears in 1 contract
Samples: Lease Agreement (Scios Inc)
Destruction. A. In 22.1 Tenant shall give prompt notice to Landlord in case of any fire or other damage to the event that more than a quarter Demised Premises or the building. If the Demised Premises shall be partially damaged by fire or other casualty insured under the Landlord's insurance policies, then upon Landlord's receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the same (exclusive of Tenant's trade fixtures, decorations signs, improvements and contents) substantially to the condition thereof immediately prior to such damage or destruction limited, however the extent of the insurance proceeds actually received by Landlord; such repair and restoration to be
(i) If both the Demised Premises and the Demised Premises shall be damaged to the extent of twenty five (25%) percent or more of the cost of replacement thereof; (ii) the Demised Premises or the building of which the Demised Premises are a par shall be destroyed or partially damaged as a result of a risk not insured by an uninsured perilLandlord; or (iii) the Demised Promises shall be damaged to the extent to twenty (20%) percent or more of the cost of replacement thereof during the last two (2) years of the Lease term (or any renewal term); or (iv) the building constituting the Demised Premises shall be damaged to the extent of fifty (50%) percent or more of the cost of replacement thereof whether or not the Demised Premises shall be damaged; or (v) if any individual retail space containing 20.000 or more square feet. if any. within the Demised Premises is damaged and such store or stores are not re-opened for business for a period of one hundred eighty (180) days after such damage or destruction, then or in any such event. Landlord may elect to repair the damage as aforesaid, or Tenant may, upon to cancel this Lease by written notice of cancellation given to Tenant within ninety (90) days after the otherdate of such occurrence, and thereupon this Lease shall cease and terminate with the same force and effect as though the time set forth in the Landlord's said notice were the date herein fixed for the expiration of the Lease term; and Tenant shall vacate and surrender the Demised Premises to Landlord. Upon the termination of this Lease, as addressed, Tenant's liability from the Minimum Guaranteed Rent and other charges reserved hereunder shall cease as of the date of such damage or destruction the Landlord shall make an equitable refund of any Minimum Guaranteed Rental and other charges paid by Tenant in advance and not earned. If there is a destruction, as set forth in subdivision (iii) or (v) of this Article. Tenant shall have a like option to terminate, but under subdivision (iii). Tenant shall give notice thereof before Landlord commences repair or restoration, and in any event such notice shall be given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from the date of the damage, Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. 22.2 Unless this Lease is terminated pursuant to the foregoing provisionsby Landlord or Tenant as aforesaid, this Lease shall remain in full force and effect; providedeffect and the parties waive the provisions of law to the contrary, howeverand Tenant shall repair, restore or replace Tenants trade fixtures, decorations, improvements, signs and contents in the Demised Premises in a rammer and to at least a condition equal to that during any period existing prior to their damage or destruction and the proceeds of repairs or restoration, rent and all other amounts to be paid insurance carried by Tenant on account said property shall be held by Tenant for the purposes of said repairs, restoration or replacement. If by reason of such fire or other casualty the Demised Premises and this Lease is rendered wholly untenantable, the Minimum Guaranteed Rental shall be fully abated, or if only partially damaged, such Minimum Guaranteed Rental shall be abated in proportion proportionately as to the area that potion of the Demised Premises rendered not reasonably suitable for untenantable, the conduct of Tenant’s business thereon. Tenant’s abatement period Minimum Guaranteed Rental shall continue until Tenant has been given sufficient timebe totally abated, and sufficient access or if only partially damaged, such Minimum Guaranteed Rental shall be abated proportionally as to the Premises, to rebuild the that portion of the Demised Premises it is required rendered untenantable, in either event (unless Landlord shall elect to rebuildterminate this Lease, as aforesaid) until fifteen (15) days after notice by Landlord to install its propertyTenant that the Demised Premises have been substantially repaired or restored or until Tenant's business operations are restored in the entire Demised Premises, furniturewhichever shall occur sooner. Tenant shall continue the operation of Tenant's business in the Demised Premises, fixtures, data and telecommunications cabling and equipment and to move whichever shall occur sooner. Tenant shall continue the operation of Tenant's business in the Demised Premises or any part thereof not so damaged during any such period to the Premises over extent reasonable practicable from the course standpoint of one (1) full weekend (during which weekend prudent business management.
22.3 Tenant shall not be provided with the exclusive entitled to and hereby waives all claims against Landlord for any compensation or damage for loss or use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 whole or any part of the California Civil Code. In the event of law changesDemised Premises and/or from any inconvenience or annoyance occasioned by any such damage, any references to outdated laws shall refer destruction, repair or restoration.
23.4 Despite anything contained in this Lease to the closest contrary, and without limiting the Landlord's right or remedies hereunder Landlord may, without obligation or liability to Tenant, terminate this Lease with thirty (30) days prior written notice to the Tenant and all Minimum Guaranteed Rental and other charges shall be adjusted as of, and Tenant shall vacate and surrender the Demised Premises on, such termination date:
(a) If damage or destruction occurs to the Demised Premises or any part thereof by reason of any cause in respect of which there are no proceeds of insurance available to Landlord, or
(b) If the proceeds of insurance are insufficient to pay Landlord for the costs of rebuilding or making fit for occupancy (including architectural fees) the Demised Premises or any part thereof (including the Demised Premises), or
(c) If any mortgagee or other person or entity entitled to the proceeds of insurance does not consent to the payment to Landlord of such proceeds for such purpose, or
(d) If in the Landlord's opinion any such damage or destruction is caused by any neglect, default, negligence, act or omission of Tenant, or those for whom Tenant is in lawfully responsible, or any other person entering upon the Demised Premises under express or implied invitation of Tenant.
(e) Should Landlord elect to repair, reconstruct or rebuild the Demised Premises the Demised Premises or any parts thereof Landlord may use plans, specifications and working drawings other than those used in the original construction of the Demised Premises or any part thereof.
(f) If all or part of the Demised Premises is destroyed or damaged as set forth in this Article, the Architect designated by Landlord shall determine the extent of such destruction or damage and provide Landlord with a certificate a testing to the condition of the Demised Premises and the Demised Premises the certificate of the Architect shall bind the parties as to:
(g) The percentage of replacement laws throughout this lease as determined cost of the Demised Premises or Demised Premises damaged or destroyed: and
(h) Whether or not Demised Premises cannot be used by Landlordthe Tenant for a period of one hundred eight (180) days or more after the occurrence of the damage of destruction.
Appears in 1 contract
Samples: Lease Agreement (Oleramma Inc)
Destruction. A. In the event that the Premises, the Building, the Parking Area or the Real Property are damaged or destroyed in whole or in part from any cause, Landlord may, at its option:
34.1 Rebuild or restore the Premises, the Parking Area and the Building, including, without limitation, any improvements made to the Building, at Landlord's expense, to their condition immediately prior to the damage or destruction; or
34.2 If the Premises is damaged to the extent of one-third (1/3rd) or more than a quarter of the Premises are destroyed by an uninsured perilreplacement cost of the Building, Landlord or Tenant may, terminate this Lease upon written notice to the other, given Tenant. If Landlord does not give Tenant notice in writing within thirty (30) days after from the occurrence destruction of such damage its election to either rebuild and restore them, or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premisesthem, in which event Landlord shallagrees, at its expense, except for any deductible which is the responsibility of Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord maythe Building, at Landlord’s expense, promptly rebuild or restore the Premises Parking Area and the Real Property to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to an equitable reduction in rent while such repair is being made in the event that, pursuant to any proportion that such damage has interfered with or diminished Tenant's use and enjoyment of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, the Building, the Parking Area, and the Real Property. If Landlord shall, within thirty initially estimates that the rebuilding or restoration will exceed one hundred eighty (30180) days after or if Landlord does not complete the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant), then Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability shall have the right to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due terminate this Lease by giving fifteen (15) days prior written notice to such causes, or other contingencies beyond the control of Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises Parking Area and other exterior improvements to the Real Property and the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease, and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations Alterations, or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended canceled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator)except as set forth above. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of or the California Civil Code. Notwithstanding anything to the contrary in the Lease, Landlord shall not have the right to terminate the Lease if damage to or destruction of the Premises or the Building, or both, results from a casualty covered by insurance required to be carried by Landlord under the Lease. In the event case of law changesdamage which is not required to be covered by insurance, Landlord shall not have the right to terminate the Lease if the damage (i) is relatively minor (e.g., repair or restoration would take fewer than ninety (90) days and (ii) would cost less than five percent (5%) of the replacement cost of the Building). Landlord shall notify Tenant within thirty (30) days following any references damage to outdated laws shall refer or destruction of the Premises (or the Building if such damage or destruction interferes with Tenant's use of the Premises) the length of time Landlord reasonably estimates to the closest replacement laws throughout this lease as determined by Landlordbe necessary for repair or restoration.
Appears in 1 contract
Samples: Lease Agreement (Ilog Sa)
Destruction. A. In If the event Leased Premises should be damaged or destroyed by fire or other cause to such extent that more than a quarter the cost of repair and restoration would exceed 30 percent of the amount it would cost to replace the Leased Premises are destroyed in the entirety at the time such damage or destruction took place, then Landlord and Tenant shall each have the right to cancel this Lease by an uninsured peril, Landlord or Tenant may, upon written giving the other party notice to the other, given of such election within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent terminate as of fifty percent fifteen (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (3015) days after the occurrence of date such damage or destruction, elect to terminate this Leasenotice is given. If a either party does not give such notice in writing within such periodfails to exercise this option to terminate, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event then Landlord shall, at its expense, promptly rebuild or repair and restore the Leased Premises to their substantially the same condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition they were in prior to the damage or destruction.
D. In . If the event that, pursuant Leased Premises should be damaged or destroyed by fire or other cause to any such an extent that the costs of repair and restoration would be less than 30 percent of the foregoing provisionsamount it would cost to replace the Leased Premises in their entirety at the time such damage or destruction took place, Landlord chooses to rebuild or restore then this Lease shall not terminate and the Premises, Landlord shall, within thirty (30) days after at its expense, promptly repair and restore the occurrence of such Leased Premises to substantially the same condition they were in prior to the damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from the date of the damage, Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant Notwithstanding anything herein to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionallycontrary, if the Premises, or any part thereof, or any portion of the Building necessary Leased Premises is unusable by Tenant for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereoflonger than 30 days, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. Lease. In the event of damage to the Building Leased Premises are damaged or Project which does not effect destroyed, the Premises but prevents Tenant from having access to or the use of the Premises (rents herein or a material fair and equitable portion thereof), Landlord will promptly repair shall be abated until such damage such that Tenant can have access to time as the Leased Premises are repaired and use restored. The term of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion extended for a period equal to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant during which there has been given sufficient time, and sufficient access a complete abatement of rent. The opinion of an architect or registered engineer appointed by Landlord as to the Premisescosts of repair, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant restoration or replacement shall be provided with controlling upon the exclusive use of the Building’s freight elevator)parties. Tenant hereby expressly waives the Landlord's obligation to restore or repair does not include fixtures or improvements installed or owned by Tenant. The provisions of this Section 1932are not intended to limit, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, modify or release Tenant from any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlordliability it may have for damage or destruction.
Appears in 1 contract
Destruction. A. In 15.1 If the Premises are damaged by fire or other casualty (a “Casualty”), Landlord shall, as soon as reasonably practicable but in any event that more than within ninety (90) days after such Casualty, deliver to Tenant a quarter good faith estimate (the “Damage Notice”) of the time needed to repair the damage caused by such Casualty.
15.2 If a material portion of the Premises are destroyed is damaged by an uninsured perilCasualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused thereby cannot be repaired within two hundred seventy (270) days after the commencement of repairs (the “Repair Period”), Landlord or then Tenant may, upon may terminate this Lease by delivering written notice to the other, given Landlord of its election to terminate within thirty (30) days after the occurrence of such damage or destruction, elect Damage Notice has been delivered to terminate this LeaseTenant; provided, however, that either party may, if such damage occurs within thirty twelve (3012) days after receipt months of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, the last day of the Term and the party having made such election time estimated to restore or substantially complete the repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than exceeds fifty percent (50%) of the then replacement cost remaining Term, then Tenant may terminate this Lease by delivering written notice to Landlord of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises its election to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, terminate within thirty (30) days after the occurrence Damage Notice has been delivered to Tenant .
15.3 If a Casualty damages the Premises or a material portion thereof and (a) Landlord estimates that the damage to the Premises cannot be repaired within the Repair Period, (b) the damage to the Premises exceeds fifty percent (50%) of the replacement cost thereof (excluding foundations and footings), as estimated by Landlord, and such damage occurs during the last two (2) years of the Term, (c) regardless of the extent of damage to the Premises, the damage is not fully covered by Landlord’s insurance policies or destructionLandlord makes a good faith determination that restoring the Premises would be uneconomical, provide Tenant or (d) Landlord is required to pay any insurance proceeds arising out of the Casualty to any beneficiary or mortgagee with a lien on the Premises or Project, then Landlord may terminate this Lease by giving written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from the date of the damage, Tenant may, its election to terminate within thirty (30) days after receipt of Landlord’s notice, elect the Damage Notice has been delivered to Tenant.
15.4 If neither party elects to terminate this Lease following a Casualty, then Landlord shall, within a reasonable time after such Casualty, begin to repair the Lease by giving written notice Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same condition as they existed immediately before such Casualty; however, Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord not be required to complete the repair or restoration replace any alterations or betterments within the Premises (which shall be extended for delays caused promptly and with due diligence repaired and restored by the fault Tenant at Tenant’s sole cost and expense) or neglect any furniture, equipment, trade fixtures or personal property of Tenant or because of acts of Godothers in the Premises, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. and Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended limited to the extent of any delays caused the insurance proceeds actually received by Landlord for the Casualty in question. If this Lease is terminated under the provisions of this Section 15, Landlord shall be entitled to the full proceeds of the insurance policies providing coverage for all alterations, improvements and betterments in the Premises (and, if Tenant has failed to maintain insurance on such items as required by this Lease, Tenant shall pay Landlord an amount equal to the proceeds Landlord would have received had Tenant maintained insurance on such items as required by this Lease).
15.5 If the Premises are damaged by Casualty, Rent for the portion of the Premises rendered untenantable by the damage shall be equitably abated based on the nature and degree of the interference with Tenant, then Tenant may terminate ’s use of the Premises from the date of damage until the completion of Landlord’s repairs (or until the date of termination of this Lease by written notice to Landlord within thirty (30) days after the expiration of such periodor Tenant as provided above, as the same case may be so extended. Additionallybe), if unless Tenant or any of Tenant’s Parties negligently or willfully caused such damage, in which case, Tenant shall continue to pay Rent without abatement.
15.6 This Section 15 shall provide Tenant’s sole and exclusive remedy in the event of damage or destruction to the Premises, and Tenant, as a material inducement to Landlord entering into this Lease, irrevocably waives and releases Tenant’s rights under California Civil Code Sections 1932(2), 1933(4), 1941 and 1942. No damages, compensation or claim shall be payable by Landlord for any inconvenience, any interruption or cessation of Tenant’s business, or any part thereofannoyance, arising from any damage to or destruction of all or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during except for the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described rent provided in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice15.5 above.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Samples: Industrial Lease (MusclePharm Corp)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured perilin whole or in part from any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Paragraph Landlord or Tenant may, upon written notice at its option:
(a) Rebuild or restore the Premises to their condition prior to the otherdamage or destruction, given or
(b) TERMINATE THIS LEASE. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days after from the occurrence destruction of such damage the Premises of its election to either rebuild and restore them, or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premisesthem, in which event Landlord shallagrees, at its expense, except for any deductible, which is the responsibility of Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay be entitled to Landlord upon commencement of reconstruction the amount of any deductible a reduction in rent from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence date of such damage or destruction, provide provided Tenant with written notice is not using any portion of such damaged area, while such repair is being made in a proportion that the area of the time required for Premises rendered untenable a such repair damage bears to the total area of the Premises. If Landlord does not complete the rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoesembargos, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore ), then Tenant shall have the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.fifteen
Appears in 1 contract
Samples: Lease Agreement (Divine Inc)
Destruction. A. If the Leased Premises should be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice thereof to Landlord. In case the Leased Premises shall be partially or totally damaged or destroyed by fire or other casualty insurable under standard extended risk insurance as to become partially or totally untenable, after date of notification by Tenant to Landlord of the happening of the damage, Tenant, at its sole cost, provided insurance proceeds are made available by Landlord and by its lender in an amount to fully pay for such repairs, shall proceed forthwith to repair or restore such damage as nearly as practicable to the condition and character prior to such damage or destruction within a reasonable time (subject to reasonable time allowance for the purpose of adjusting the insurance loss and for unavoidable delay), unless Landlord or Tenant elects to terminate this Lease as hereinafter provided. In the event that more than a quarter forty percent (40%) of any building on the Leased Premises are shall be destroyed by an uninsured perilfire or other casualty insurable under standard risk insurance, Landlord or in the event any building on the Leased Premises shall be damaged or destroyed to any extent by a casualty other than those covered by fire and standard extended coverage risk insurance, then and in such event, Tenant may, if it so elects, rebuild or put said building in good condition and fit for occupancy within a reasonable time after date of notification of the destruction or damage, or may, upon written notice to the other, given within thirty (30) days after written notice given within forty-five (45) days of the occurrence date of such damage notification of the destruction or destructiondamage, elect to terminate this LeaseLease as to the portion of the premises so destroyed, with the rent to xxxxx pro rata for the Camp Family Parcels of by the amount of rent payable under the Third Party Leases, to the extent permitted in the Third Party Leases; provided, however, Tenant may not partially terminate this Lease with respect to that either party may, within thirty (30) days after receipt portion of the property so damaged if such terminated portion is of such notice, elect a size or configuration that it has little or no economic value to make any required repairs and/or restoration at such party’s sole cost and expenseLandlord, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction have the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from the date of the damage, Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended Sublease with respect to the extent of any delays caused by Tenantentire Leased Premises unless, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration in lieu of such periodtotal termination, as Landlord elects to allow the same may be so extended. Additionally, if the Premises, or any part thereof, or any partial termination with respect to that portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, premises so partially damaged. Unless Tenant may elects to terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisionsLease, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration. In the event tenant elects to rebuild, rent shall xxxxx ratably, providing that Tenant diligently pursues completion of any required restoration. If the Lease is canceled or partially terminated by reason of such damage or destruction, any insurance proceeds for damage to the Leased Premises, not including Tenant's fixtures, machinery, equipment, and all other amounts to be paid personal property, whether obtained by Tenant on account or Landlord, shall belong to Landlord, free and clear of any claims by Tenant. Any insurance proceeds for damage to Tenant's fixtures, equipment, machinery, and other personal property, shall belong to Tenant, free and clear of any claims by Landlord. In the Premises and this Lease event the parking area shall be abated materially and substantially damaged by reason of any casualty to such an extent as to render the same untenable in proportion whole or in a substantial part thereof, then Tenant, at its option, may terminate this Lease, as to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuildparking area so damaged, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in by giving written notice to the Premises over other not later than ninety (90) days after the course date of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlordsuch damage.
Appears in 1 contract
Destruction. A. In the event that more than a quarter any portion of the Premises are destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event neither parr~ xxects to terminate this Lease as provided in the foregoing sentence, subject then Landlord shall be deemed to Section 16.D below.
B. have elected to restore or repair the Premises at Landlord's sole cost and expense, in which event this Lease shall remain in full force and effect and Landlord shall thereafter diligently proceed with such repairs and/or restoration. For purposes of this paragraph, the term "uninsured peril" shall not include a peril which would have been covered by Landlord if Landlord had carried the insurance required under the terms of this Lease. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%50~) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. . In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%50~) of the then replacement cost of the Premises, Landlord mayshall, at Landlord’s 's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Landlord and Tenant with written notice shall each have the right to terminate this Lease if (a) the damage to the Premises occurs at any time during the last eighteen (18) months of the time required for such repair or restoration Lease Term and (“Landlord’s Repair Notice”). If such period b) it is longer estimated that the necessary repairs will take more than two hundred ten sixty (21060) days to complete from the date of the damage, Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Destruction. A. In the event that more than a quarter any portion of the Premises are destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) 30 days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, provided however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. restorations. In the event that any portion of the Premises are destroyed or damaged from any insured by an uninsured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant landlord may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shallevent, Landlord, shall at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. . In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two hundred ten seventy (210270) days from the date issuance of the damagea building permit, Tenant tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agenciespublication, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Destruction. A. In If the event Leased Premises should be damaged or destroyed by fire or other cause to such an extent that more than a quarter the cost of repair and restoration would exceed thirty (30) percent of the amount it would cost to replace the Leased Premises are destroyed in their entirety at the time such damage or destruction took place, then Landlord shall have right to cancel this Lease by an uninsured peril, Landlord or giving Tenant may, upon written notice to the other, given of such election within thirty (30) days after the occurrence of such damage or destruction, elect to destruction and this Lease shall terminate this Lease; provided, however, that either party may, within thirty as of fifteen (3015) days after receipt the date such notice is given. If Landlord fails to exercise this option to terminate then Landlord shall at its expense promptly repair and restore the Leased Premises to substantially the same condition they were in prior to the damage or destruction. If the Leased Premises should be damaged or destroyed by fire or other cause to such an extent that the costs of repair and restoration would be less than 30 percent of the amount it would cost to replace the Leased Premises in their entirety at the time such noticedamage or destruction took place, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event then this Lease shall, subject to Section 16.D below, remain in full force and effect, shall not terminate and the party having made such election Landlord shall at its expense promptly repair and restore the Leased Premises to restore substantially the same condition they were in prior to the damage or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In destruction. If the event the Leased Premises are an integral part of a larger structure and if the structure should be damaged from any insured peril or destroyed by fire or other cause to such an extent that the extent cost of fifty repair and restoration would exceed 30 percent (50%) or more of the amount it would cost to replace the structure in its entirety at the time such damage or destruction took place and notwithstanding that the Leased Premises may be unaffected by such damage or destruction, then replacement cost Landlord shall have the right to cancel this Lease by giving Tenant notice of the Premises, Landlord or Tenant may, upon written notice to the other, given Such election within thirty (30) days after the occurrence of such damage or destruction, elect to destruction and this Lease shall terminate this Lease. If a party does not give fifteen (15) days after the date such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. is given. In the event the Leased Premises are damaged or destroyed the rents herein provided, or a fair and equitable portion thereof, shall be abated until such time as the Leased Premises are repaired and restored. The term of this Lease shall be extended for a period equal to the period during which there has been a complete abatement of rent. The opinion of an architect or registered engineer appointed by Landlord as to the costs of repair, restoration or replacement shall be controlling upon the parties. Landlord's obligation to restore or repair does not include fixtures or improvements installed or owned by Tenant. The provisions of this Section are not intended to limit, modify or release Tenant from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the liability it may have for damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from the date of the damage, Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.destruction, or
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of (b) Terminate this Lease. Provided however, if less than fifty twenty percent (5020%) of the then replacement cost rentable square footage of the PremisesPremises is destroyed or damaged, then Landlord shall be required to rebuild and restore. If twenty percent (20%) or more of the Premises is damaged or destroyed, and if Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in rent while such repair is being made in the event that, pursuant to any proportion that the area of the foregoing provisionsPremises rendered untenantable by such damage bears to the total area of the Premises. If, in any event, Landlord chooses to rebuild does not complete the rebuilding or restore the Premises, Landlord shall, restoration within thirty one hundred eighty (30180) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended by not more than ninety (90) additional days for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due dues to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen) (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, merchandise or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended canceled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 2, and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of not less than 33 1/3% of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined Lease, whether the Premises be injured or not. In the event the destruction of the Premises is caused by Tenant, Tenant shall pay the deductible portion of Landlord's insurance proceeds.
Appears in 1 contract
Samples: Lease (Siebel Systems Inc)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part ----------- from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Xxxxxxxxx 0, Xxxxxxxx may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.destruction, or
C. In the event (b) Terminate this Lease (providing that the Premises are is damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) 33-1/3% of the then replacement cost cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the PremisesPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s expenseits expense except for any deductible, which is the responsibility of Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in rent following such destruction and while such repair is being made in the event that, pursuant to any proportion that the area of the foregoing provisions, Landlord chooses Premises rendered untenantable by such damage bears to rebuild or restore the total area of the Premises, . If Landlord shall, within thirty initially estimates that the rebuilding or restoration will exceed one hundred eighty (30180) days after or ninety (90) days if occurring during the occurrence of such damage or destruction, provide Tenant with written notice last twelve (12) months of the time required for such repair Lease term, or if Landlord does not complete the rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction or ninety (3090) days after receipt during the last twelve (12) months of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of term, (such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations alterations, or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended canceled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of not less than 33-1/3% of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined by LandlordLease. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible.
Appears in 1 contract
Destruction. A. In 13.01 If, during the event that more than initial term or renewal term of this Lease, the Common Improvements and/or Demised Premises are:
(a) destroyed by fire or any other casualty whatsoever, or;
(b) partially destroyed so as to render the Demised Premises unfit for occupancy or Lessee’s reasonable beneficial use and enjoyment or conduct of Lessee’s usual business therein, or;
(c) destroyed by a quarter casualty which is not covered by Lessor’s insurance, or if such casualty is covered by Lessor’s insurance but a mortgagee of Lessor or other party entitled to insurance proceeds fails to make such proceeds available to Lessor in an amount sufficient for restoration of the Demised Premises are destroyed by an uninsured periland/or Common Improvements (provided, Landlord however, that Lessor agrees to make a good faith effort to have such mortgagee make such proceeds available for full restoration or Tenant may, upon written notice rebuilding); then Lessor shall make its reasonable determination as to the other, given length of time to complete such repairs within thirty (30) days after of the occurrence casualty and shall notify Lessee of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. same as provided herein. In the event the Premises are damaged from any insured peril restoration is reasonably estimated by Lessor to the extent of fifty percent take more than three hundred (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210300) days from the date of the damagedestruction or casualty, Tenant mayor in the event the above described destruction or casualty should occur within the last two (2) years of the Lease, then Lessor or Lessee shall have the right to terminate this Lease Agreement. In the event that the Lease Agreement is terminated in accordance with the foregoing provisions, Lessee shall surrender within thirty (30) days after receipt of Landlord’s noticenotification the Demised Premises and Common Improvements and interest therein, elect and Lessee shall pay rent only to terminate the Lease by giving written notice to Landlord time of such election, whereupon destruction or casualty. In case of the Lease shall immediately terminate. The period of time for Landlord to complete the repair total or restoration shall be extended for delays caused by the fault partial damage or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant destruction to the Premises. Notwithstanding the foregoingDemised Premises and/or Common Improvements, if Tenant was entitled to but elected not to exercise its right to terminate this Lease Lessor shall re-enter and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as repossess the same may be so extended. Additionally, if the Premises, or any part thereofthereof for the purpose of removing or repairing the loss or damage and shall proceed with due diligence to the repair of same unless, under the foregoing provisions of this Article XIII, the Lease Agreement shall have been terminated. The Rent during the period of such repairs shall be wholly abated if all of the Demised Premises and/or Common Improvements have been thus repossessed by Lessor or any otherwise made unavailable to Lessee for Lessee’s reasonable beneficial use and enjoyment or Lessee’s conduct of Lessee’s usual business therein for the purpose of repair for the period that Lessee has been dispossessed; and if only a portion of the Building necessary Demised Premises and/or Common Improvements is thus repossessed or otherwise unavailable to Lessee for TenantLessee’s reasonable beneficial use and enjoyment or Lessee’s conduct of Lessee’s usual business therein, the Rent shall be abated for such dispossession or unavailability pro rata, based on the portion of the Premises, are damaged Demised Premises and/or Common Improvements thus repossessed or destroyed rendered unavailable during the last twelve (12) months period of the Term, repossession or any extension thereof, Tenant may terminate unavailability. Any Rent abatement under this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease Article XIII shall terminate commence as of the later of the date of the casualty destruction. Lessor shall not be required to rebuild, repair, or the date of Tenant’s vacation replace any part of the Premises.
E. In personal property, furniture, equipment, fixtures, and other improvements which may have been placed by Lessee or other lessees within the event Demised Premises or Common Improvements, unless the damage thereto is caused by the sole negligence or willful act or omission or default hereunder of Lessor or Lessor’s agents, employees, subtenants, assignees, or independent contractors. Any insurance which may be carried by Lessor or Lessee for damage to the Building Demised Premises or Project which does not effect to any personal property, fixtures, and related items therein shall be for the Premises but prevents Tenant from having access to or the use sole benefit of the Premises (or a material portion thereof), Landlord will promptly repair party carrying such damage such that Tenant can have access to insurance and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effectunder its sole control; provided, however, that during any period Lessor shall carry insurance for the benefit of repairs or restoration, rent Lessor and all other amounts Lessee sufficient to be paid by Tenant on account cover the full replacement cost of the shell of the Demised Premises and this Lease an amount equal to the initial Tenant Improvements, and other improvements that Lessor shall have liability therefore under Article VII. Should the Demised Premises or the Common Improvements be destroyed or damaged by fire or other casualty that is due to the negligence or willful or wanton conduct of Lessee or Lessee’s agents, employees, subtenants, assignees or independent contractors, Lessor may repair such damage, and there shall be abated in proportion to the area no apportionment or abatement of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by LandlordRent.
Appears in 1 contract
Samples: Lease Agreement (Benefitfocus,Inc.)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. 24.1. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premisescause, Landlord may, at Landlord’s expense, promptly rebuild its option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction., or
D. In (b) Terminate this Lease. If Landlord does not give Tenant notice in writing within thirty (30) days from the event that, pursuant to any destruction of the foregoing provisionsPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord chooses shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises, Landlord shallincluding leasehold improvements installed by Landlord, within thirty (30) days after to their condition prior to the occurrence of such damage or destruction, provide . Tenant with written notice shall be entitled to a reduction in rent while such repair is being made in the proportion that the area of the time required for Premises rendered untenantable by such repair damage bears to the total area of the Premises. If Landlord does not complete the rebuilding or restoration (“Landlord’s Repair Notice”). If such period is longer than within two hundred ten seventy (210270) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving written notice to Landlord within fifteen (15) days after said 270-day period. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, merchandise or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premisesprovisions above.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below24.2. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and (and) Section 1933, Subdivision 4 of the California Civil Code.
Section 24.3. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of thirty three and one-third percent (33-1/3%) or more of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined Lease, whether the Premises be injured or not. In the event the destruction of the Premises is caused by Tenant, Tenant shall pay the deductible portion of Landlord's insurance proceeds.
Appears in 1 contract
Samples: Lease Agreement (Versartis, Inc.)
Destruction. A. In If the event that more than a quarter Leased Premises or the Building, at any time during the term, are damaged in whole or in part by fire, flood, tornado or by the elements, or by Act of God, or by the Premises are destroyed by an uninsured perilpublic enemy or otherwise, Landlord or Tenant may, upon shall give prompt written notice to Landlord. If the otherLeased Premises or the Building are substantially damaged, given then this Lease and the Term, at the election of the Landlord, shall either terminate or if Landlord shall elect to rebuild and restore the Building, this Lease shall continue in full force and effect. Landlord agrees to notify Tenant of its election within thirty (30) days after the occurrence following Tenant's notice or Landlord's discovery of such damage. Upon its election to restore, if Landlord can not reasonably expect to complete restoration within ninety (90) days following the expiration of Landlord's thirty (30) day period to notify Tenant of its election to resolve, then Landlord shall so notify Tenant, and Tenant shall have the right to terminate this Lease. Base Rent, Additional Rent and other charges payable under the Lease shall be equitably abated during the period of Landlord's restoration or repair. If the Leased Premises or the Building are damaged but not substantially damaged, or if Landlord elects to restore the Building after substantial damage, Landlord shall repair the damage and restore the Leased Premises to substantially the same condition as existed immediately prior to the damage with reasonable dispatch but no such restoration or destructionrepair shall in any event be completed later than one hundred twenty (120) days following Tenant's notice or Landlord's discovery of damage. In the event Landlord is unable to complete said restoration or repair within said one hundred twenty (120) days Tenant shall have the right to terminate this Lease. However, Landlord's obligation to restore does not include restoring leasehold improvements or Tenant's fixtures, equipment and property. If Landlord gives Tenant a termination notice, this Lease and the Term shall terminate on the date specified in the termination notice, with the same effect as though that date were the scheduled Termination Date, and Base Rent, Additional Rent and other charges payable under this Lease shall be apportioned and paid up to the date of the damage, and any prepaid unearned rent or other charges shall forthwith be repaid by Landlord to Tenant. If Tenant gives Landlord a termination notice this Lease shall terminate on the date specified and any prepaid unearned rent or other charges, including without limitation the security deposit shall forthwith be repaid by Landlord. Notwithstanding anything to the contrary contained in this Section 14, in the event the Leased Premises is substantially damaged and Landlord should elect to terminate this Lease; providedLease as provided herein, howeverupon receipt of Landlord's written notice of its election to terminate, that either party mayTenant, within thirty fifteen (3015) days after following receipt of such noticenotice may, elect at its option, elect, by the giving of written notice to make any required repairs and/or restoration Landlord, to continue this Lease and rebuild the Leased Premises to substantially the same condition as existed immediately prior to the damage at such party’s its sole cost and expenseexpense provided such repairs can be completed within ninety (90) days following Tenant's notice to Landlord of such election. A proportionate share of Base Rent, in which event and Additional Rent and other charges payable under the Lease shall be abated during the repair order period. Upon Landlord's receipt of Tenant's notice to continue this Lease shall, subject Landlord's notice of termination shall be deemed null and void and Tenant shall be entitled to all insurance proceeds received or to be received by Landlord on account of such substantial damage. "Substantially damaged" for the purposes of this Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril be defined as damage to the extent Building in excess of fifty percent (50%) of either the rentable floor area or more of the then Building's replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from the date of the damage, Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premisescost. Notwithstanding the foregoing, if Tenant was entitled insurance proceeds recovered shall be insufficient to but elected not to exercise its right to terminate restore the Leased Premises in accordance with this Lease Section, and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration elects to rebuild, then Landlord promptly shall notify Tenant of the estimated period amount of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty such insufficiency. Within fifteen (3015) days after receiving Landlord's written notice pursuant to the expiration preceding sentence, Tenant will notify Landlord of Tenant's election either: (i) to pay such periodinsufficiency to Landlord, in which case, Landlord will rebuild; or (ii) not to pay such insufficiency, in which case, unless Landlord elects to rebuild notwithstanding the insufficiency, this Lease will terminate as of the same may date on which the damage or destruction occurred, and rent and other charges will be so extendedapportioned and paid to that termination date, and any prepaid unearned rent and other charges and security deposit will be repaid to Tenant. Additionally, if Tenant shall be entitled to an abatement of rent for the Premises, or any period during which the Leased Premises are rendered untenantable for the Permitted Use. If only a part thereof, or any portion of the Building is rendered untenantable for the Permitted Use, the rent shall be reduced proportionately. If the Building is so damaged that it is necessary in Landlord's sole discretion, to demolish the Building for Tenant’s use of restoration or reconstruction, Landlord may demolish the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualtyBuilding, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to as though the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by LandlordBuilding were substantially damaged.
Appears in 1 contract
Samples: Commercial Lease (Suntek Corp)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in ----------- part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Xxxxxxxxx 00, Xxxxxxxx may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.destruction, or
C. In the event (b) Terminate this Lease (providing that the Premises are is damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) 33 1/3% of the then replacement cost cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the PremisesPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s expenseits expense except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in Rent from the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence date of such damage or destruction, provide provided Tenant with written notice is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the time required for Premises rendered untenantable by such repair damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoesembargos, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended canceled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions provision of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 33 1/3% of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this lease in the event of law changes, any references an uninsured event or if insurance proceeds are insufficient to outdated laws shall refer to cover one hundred percent of the closest replacement laws throughout this lease as determined by Landlordrebuilding costs net of the deductible.
Appears in 1 contract
Samples: Lease Agreement (Opti Inc)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or except for routing maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Xxxxxxxxx 0, Xxxxxxxx may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.destruction, or
C. In the event (b) Terminate this Lease (providing that the Premises are is damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) 33-1/3% of the then replacement cost cost) If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the PremisesPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s its expense, except for any deductible, which is the responsibility of Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in rent while such repair is being made in the event that, pursuant to any proportion that the area of the foregoing provisions, Landlord chooses Premises rendered untenantable by such damage bears to rebuild or restore the total area of the Premises, . If Landlord shall, initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within thirty one hundred eighty (30180) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of not less than 33-1/3% of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined by LandlordLease, whether the Premises be injured or not.
Appears in 1 contract
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, cause Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay destruction; or
(b) Terminate this Lease. Notwithstanding the foregoing, Landlord may not elect to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event terminate this Lease if the Premises are damaged or only partially destroyed from any insured peril to the an extent of less not more than fifty seventy percent (5070%) of their replacement cost, (ii) the then replacement cost damage is totally covered by insurance (or Tenant agrees to pay and does in fact pay any uninsured costs), and (iii) the repairs can be made within one hundred twenty (120) days after the date of the Premisesdestruction. If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which Landlord agrees, at Landlord’s its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . If Landlord does not complete the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild rebuilding or restore the Premises, Landlord shall, restoration within thirty one hundred eighty (30180) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of or contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Landlord’s 's obligation to repair rebuild or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding In the foregoingevent of any damage or destruction to or of the Premises which materially interferes with Tenant's use of the Premises for more than ninety (90) days (unless such damage or destruction is caused by the negligence or willful misconduct of Tenant, if its agents, employees or invitees), Tenant was entitled to but elected not to exercise its shall have the right to terminate this Lease and Landlord does not substantially complete the repair and restoration by giving fifteen (15) days prior written notice to Landlord. Any policy or policies of fire, extended coverage or similar casualty insurance, which either party obtains in connection with the Premises within two (2) months after shall include a clause or endorsement denying the expiration insurer any 13 rights of subrogation against the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended other party to the extent of any delays caused permitted by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage policy and to the Building or Project which does not effect extent rights have been waived by the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice insured prior to the occurrence of injury or loss. Landlord and Tenant hereby waive any rights of recovery against the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. for injury or loss due to hazards covered by insurance. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Samples: Lease Agreement (CKS Group Inc)
Destruction. A. In the event that more than a quarter any portion of the Premises are destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. . In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties 18 Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. , subject to limitations set forth in Paragraph 8.C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord mayshall, at Landlord’s 's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, subject to limitations set forth in Paragraph 8.C. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two one hundred ten eighty (210180) days from the date issuance of the damagea building permit, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agenciespublication, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or but shall include restoration of any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Paragraph 13. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer If this Lease terminates pursuant to the closest replacement laws throughout provisions of this lease as determined Paragraph 16, Tenant shall be entitled to receive that portion of the insurance proceeds attributable to the unamortized value of the improvements, alterations and additions to the Premises made and paid for by LandlordTenant pursuant to Paragraph 13, which alterations, additions and improvements shall be amortized on a straight line basis over the initial Lease Term.
Appears in 1 contract
Samples: Sublease Agreement (Netgear Inc)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged or destroyed from any insured peril to cause and the extent repair of fifty such damage will cost more than thirty-three percent (5033%) or more of the then replacement cost of the Premises, Landlord or Tenant Lessor may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expenseoption, promptly (1) rebuild or restore the Premises to their condition prior to the damage or destruction or (2) terminate the Lease, subject to the terms and Tenant shall pay conditions of this Section 15. If the damage to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less will cost more than fifty thirty-three percent (5033%) of the then replacement cost of the Premises and Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the Premises of its election either to rebuild and restore the Premises, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s its expense, promptly to rebuild or restore the Premises to their its condition prior to the damage or destruction.
D. In . If Landlord does not complete the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, rebuilding and restoration within thirty one hundred eighty (30180) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from following the date of destruction (it being understood that in no event shall the damagerebuilding and restoration be deemed complete unless and until the Premises are no longer Untenantable and the Common Areas functional for all purposes hereunder), then Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect shall have the right to terminate the this Lease by giving fifteen (15) days prior written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair rebuild or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations alterations, or additions made by Tenant to the Premises. Notwithstanding In the foregoingevent that the Premises are damaged or destroyed to the extent of less than thirty-three and one-third percent (33 1/3%) of the replacement cost thereof, if Landlord at its expense, shall promptly rebuild or restore the Premises to its condition prior to the damage or destruction, unless Tenant was entitled to but elected not to exercise exercises its right to terminate this Lease and Landlord does Lease. In the event the Premises are damaged or destroyed in whole or in part from any cause, or, if any fire, earthquake, flood or other casualty or destruction of any kind or nature shall render the Premises completely or partially Untenantable for any period, then, provided that such casualty or destruction was not substantially complete caused by the repair and restoration willful misconduct of Tenant, Rent shall be abated (in the proportion that the rentable portion of the Untenantable area of the Premises within two bears to the total rentable area of the Premises for the period during which the Premises are Untenantable) beginning on the date of such damage, destruction or casualty until, as applicable, termination of this Lease or thirty (230) months days after the expiration date on which the Premises (or such portion thereof) is no longer Untenantable and Landlord has given written notice to Tenant that the Premises are no longer Untenantable and a certificate of occupancy for the Premises, as restored following such damage, destruction or casualty has been obtained (if such certificate is required by applicable law). The term “Untenantable,” when used with respect to the Premises, or any portions thereof, shall mean that the Premises, or any portion thereof, is not reasonably capable of being used by Tenant for its intended purpose or that the continuance of Tenant’s business from the Premises is impractical as a consequence of a casualty, damage or destruction (as reasonably determined by Tenant). Within thirty (30) days following any damage, destruction or casualty, Landlord shall cause to be prepared and delivered to Tenant a written estimate of the estimated period of time set forth in Landlord’s Repair Notice, date by which period all restoration work necessitated by such casualty or destruction shall be extended to the extent of any delays caused completed (which estimate shall be prepared by an independent reputable contractor, registered architect or licensed professional engineer designated by Landlord, and reasonably approved by Tenant) (such estimate being herein called the “Restoration Completion Estimate”). If the Restoration Completion Estimate is a date later than the date that is one hundred eighty (180) days after the date of such casualty or destruction, then or the such casualty or destruction occurs during the last one hundred twenty (120) days of the Term (as may have been extended by the Extension Term), then, provided that such damage, destruction or casualty was not the direct or indirect result of Tenant’s willful misconduct, Tenant may elect to terminate this Lease by providing Landlord written notice no later than thirty (30) days following delivery of the Restoration Completion Estimate to Landlord Tenant or, in the case of damage, destruction or casualty occurring in the last one hundred twenty (120) days of the Term (as may have been extended by the Extension Term), within thirty (30) days after the expiration occurrence of such perioddamage, as destruction or casualty. Landlord and Tenant agree that the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion foregoing provisions of the Building necessary for Tenant’s use of the Premises, this Section 16 are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, govern their respective rights and obligations in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building any damage, destruction or Project which does not effect the Premises but prevents Tenant from having access to or the use casualty and supersede and are in lieu of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of any applicable law, statute, ordinance, rule, regulation, order or ruling now or hereafter in force which provide remedies for damage or destruction of Premises (including, without limitation, the provisions of California Civil Code Section 1932, Subdivision 2 Subsection 2, and Section 1933, Subdivision Subsection 4 and any successor statute or laws of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlorda similar nature).
Appears in 1 contract
Samples: Lease Agreement (Mobileiron, Inc.)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Xxxxxxxxx 0, Xxxxxxxx may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event destruction, or (providing that the Premises are is damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) 33 1/3% of the then replacement cost cost);
(b) Terminate this Lease If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the PremisesPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s expenseits expense except for any deductible, which is the responsibility of Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in rent while such repair is being made in the event that, pursuant to any proportion that the area of the foregoing provisions, Landlord chooses Premises rendered untenantable by such damage bears to rebuild or restore the total area of the Premises, . If Landlord shall, initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within thirty one hundred eighty (30180) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts act of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of not less than 33 1/3% of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined by LandlordLease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible.
Appears in 1 contract
Samples: Sublease (Power Integrations Inc)
Destruction. A. In the event that more than a quarter any portion of the Premises are Building is destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. . In the event that the Premises are Building is damaged or destroyed from any insured peril and there are insufficient insurance proceeds available to repair or restore the extent of fifty percent (50%) or more of the then replacement cost of the PremisesBuilding, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, Tenant may, within thirty (30) days after receipt of such termination notice and in its sole discretion, elect to pay for any shortfall in funding the required repairs and/or restoration, in which event Tenant shall furnish Landlord such shortfall funds prior to the commencement of such repairs and/or restoration, this Lease shall remain in full force and effect, and Landlord shall thereafter diligently proceed with such repairs and/or restoration. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the PremisesBuilding and the sitework outside the perimeter walls of the Building, if damaged, to the extent of insurance proceeds available to Landlord. Any shortfall in which event insurance proceeds available to Landlord shallto rebuild or restore the Building shall be borne by Tenant and be made available by Tenant to Landlord prior to commencement of such rebuilding or restoration. Upon Landlord's receipt of such insurance proceeds and shortfall funds, at its expenseif applicable, Landlord shall promptly rebuild or restore the Premises applicable Building and such sitework to their condition prior to the damage or destruction and destruction. Tenant also shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. . In the event the Premises are Building is damaged or destroyed from any an insured peril peril, and if there are adequate insurance proceeds available to Landlord to rebuild or restore the extent of less than fifty percent (50%) of the Building, then replacement cost of the Premises, Landlord may, at Landlord’s expense, shall promptly rebuild or restore the Premises applicable Building and also repair the sitework outside of the perimeter walls of the Building, if damaged, to their condition prior to the such damage or destruction.
D. . In such event, Tenant shall pay to Landlord upon commencement of reconstruction, the amount of any deductible from the insurance policy. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the PremisesBuilding, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the estimated time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two one hundred ten eighty (210180) days from the date of the damageevent causing such damage or destruction of the Building, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises a Building shall not include restoration of Tenant’s 's trade fixtures, equipment, personal property or merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restorationrestoration to the Building, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event the Expansion Project, or any portion thereof, is damaged or destroyed, Landlord shall have no obligation to repair, restore or rebuild the same and Tenant shall have no right to terminate this Lease as a result thereof If any portion of law changesthe Expansion Project is damaged or destroyed, any references Tenant shall have the right, during the Lease Term, to outdated laws shall refer rebuild or restore the same provided Tenant complies with the terms of the penultimate paragraph of Section 2 of this Lease above as the same relates to the closest replacement laws throughout this lease as determined construction or installation of the Expansion Project. If Tenant does not elect to rebuild or restore the damaged or destroyed Expansion Project, or applicable portion thereof, Tenant shall, at its sole cost, remove all debris and rubble from the Total Project caused by Landlordthe damage or destruction of the Expansion Project, or applicable portion thereof, and maintain the balance of the Expansion Project in safe condition and repair.
Appears in 1 contract
Samples: Sublease (New Focus Inc)
Destruction. A. In the event that more than a quarter any portion of the Premises are destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. . In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. . In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord mayshall, at Landlord’s 's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two hundred ten NINETY (21090) days from the date issuance of the damagea building permit, WHICH TIME FOR RECEIPT OF A BUILDING PERMIT SHALL NOT EXCEED TWENTY (20) DAYS, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. IF LANDLORD UNDERTAKES SUCH REPAIRS AND IS NOT COMPLETED WITHIN ONE HUNDRED TWENTY (120) DAYS, TENANT HAS THE RIGHT TO TERMINATE THE LEASE, UPON WRITTEN NOTICE TO LANDLORD. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agenciespublication, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Destruction. A. In 13.01 If, during the event that more than initial term or renewal term of this Lease, the Common Improvements and/or Demised Premises are:
(a) destroyed by fire or any other casualty whatsoever, or;
(b) partially destroyed so as to render the Demised Premises unfit for occupancy or Lessee’s reasonable beneficial use and enjoyment or conduct of Lessee’s usual business therein, or;
(c) destroyed by a quarter casualty which is not covered by Lessor’s insurance, or if such casualty is covered by Lessor’s insurance but a mortgagee of Lessor or other party entitled to insurance proceeds fails to make such proceeds available to Lessor in an amount sufficient for restoration of the Demised Premises are destroyed by an uninsured periland/or Common Improvements (provided, Landlord however, that Lessor agrees to make a good faith effort to have such mortgagee make such proceeds available for full restoration or Tenant may, upon written notice rebuilding); then Lessor shall make its reasonable determination as to the other, given length of time to complete such repairs within thirty (30) days after of the occurrence casualty and shall notify Lessee of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. same as provided herein. In the event the Premises are damaged from any insured peril restoration is reasonably estimated by Lessor to the extent of fifty percent take more than one hundred twenty (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210120) days from the date of the damagedestruction or casualty, Tenant mayor in the event the above described destruction or casualty should occur within the last two (2) years of the Lease, then Lessor or Lessee shall have the right to terminate this Lease Agreement. In the event that the Lease Agreement is terminated in accordance with the foregoing provisions, Lessee shall surrender within thirty (30) days after receipt of Landlord’s noticenotification the Demised Premises and Common Improvements and interest therein, elect and Lessee shall pay rent only to terminate the Lease by giving written notice to Landlord time of such election, whereupon destruction or casualty. In case of the Lease shall immediately terminate. The period of time for Landlord to complete the repair total or restoration shall be extended for delays caused by the fault partial damage or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant destruction to the Premises. Notwithstanding the foregoingDemised Premises and/or Common Improvements, if Tenant was entitled to but elected not to exercise its right to terminate this Lease Lessor shall re-enter and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as repossess the same may be so extended. Additionally, if the Premises, or any part thereofthereof for the purpose of removing or repairing the loss or damage and shall proceed with due diligence to the repair of same unless, under the foregoing provisions of this Article XIII, the Lease Agreement shall have been terminated. The Rent during the period of such repairs shall be wholly abated if all of the Demised Premises and/or Common Improvements have been thus repossessed by Lessor or any otherwise made unavailable to Lessee for Lessee’s reasonable beneficial use and enjoyment or Lessee’s conduct of Lessee’s usual business therein for the purpose of repair for the period that Lessee has been dispossessed; and if only a portion of the Building necessary Demised Premises and/or Common Improvements is thus repossessed or otherwise unavailable to Lessee for TenantLessee’s reasonable beneficial use and enjoyment or Lessee’s conduct of Lessee’s usual business therein, the Rent shall be abated for such dispossession or unavailability pro rata, based on the portion of the Premises, are damaged Demised Premises and/or Common Improvements thus repossessed or destroyed rendered unavailable during the last twelve (12) months period of the Term, repossession or any extension thereof, Tenant may terminate unavailability. Any Rent abatement under this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease Article XIII shall terminate commence as of the later of the date of the casualty destruction. Lessor shall not be required to rebuild, repair, or the date of Tenant’s vacation replace any part of the Premises.
E. In personal property, furniture, equipment, fixtures, and other improvements which may have been placed by Lessee or other lessees within the event Demised Premises or Common Improvements, unless the damage thereto is caused by the sole negligence or willful act or omission or default hereunder of Lessor or Lessor’s agents, employees, subtenants, assignees, or independent contractors. Any insurance which may be carried by Lessor or Lessee for damage to the Building Demised Premises or Project which does not effect to any personal property, fixtures, and related items therein shall be for the Premises but prevents Tenant from having access to or the use sole benefit of the Premises (or a material portion thereof), Landlord will promptly repair party carrying such damage such that Tenant can have access to insurance and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effectunder its sole control; provided, however, that during any period Lessor shall carry insurance for the benefit of repairs or restoration, rent Lessor and all other amounts Lessee sufficient to be paid by Tenant on account cover the full replacement cost of the shell of the Demised Premises and this Lease an amount equal to the initial Tenant Improvements, and other improvements that Lessor shall have liability therefore under Article VII. Should the Demised Premises or the Common Improvements be destroyed or damaged by fire or other casualty that is due to the negligence or willful or wanton conduct of Lessee or Lessee’s agents, employees, subtenants, assignees or independent contractors, Lessor may repair such damage, and there shall be abated in proportion to the area no apportionment or abatement of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by LandlordRent.
Appears in 1 contract
Samples: Lease Agreement (Benefitfocus,Inc.)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.destruction, or
C. In the event (b) Terminate this Lease (providing that the Premises are is damaged or destroyed from any insured peril to the extent of less than fifty thirty-three and one third percent (5033 1/3%) or more of the then replacement cost cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the PremisesPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s expenseits expense except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in Rent from the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence date of such damage or destruction, provide provided Tenant with written notice is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the time required for Premises rendered untenantable by such repair damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoesembargos, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the country, Landlord’s obligation to repair rebuild or restore shall be limited to the Premises Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant’s sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended canceled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions provision of Section 1932, Subdivision 2 and 2, in Section 1933, . Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less then thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this lease in the event of law changes, any references an uninsured event or if insurance proceeds are insufficient to outdated laws shall refer cover one hundred percent of the rebuilding costs net of the deductible. BUILDING: 1098 Alta PROPERTY: 1-0001 UNIT: 1 LEASE ID: 0001-SONI01-01 Without regard to whether this Lease is terminated pursuant to the closest replacement laws throughout this lease as determined foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).
Appears in 1 contract
Samples: Lease Agreement (Sonics, Inc.)
Destruction. A. In the event that more than a quarter any portion of the Premises are destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. . In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. . In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord mayshall, at Landlord’s 's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the estimated time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two one hundred ten eighty (210180) days from the date of the damageevent causing such damage or destruction of the Premises, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvementsimprovements (including the initial improvements installed pursuant to Exhibit "C"), alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Destruction. A. In the event that more than a quarter any portion of the Premises premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. . In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty Twenty (3020) days after the occurrence of such damage or destruction, elect to terminate this Leaselease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. policy applicable to the Premises. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord mayshall, at Landlord’s 's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty Twenty (3020) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two hundred ten One Hundred Twenty (210120) days from the date issuance of the damagea building permit, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease lease by giving written notice to Landlord of such election, whereupon the Lease lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, embargoes rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Samples: Lease Agreement (Nanometrics Inc)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) cause, except damage and destruction caused from vandalism or more of the then replacement cost of the Premisesaccident for which Tenant is responsible for under Paraxxxxx 00, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shallXxxxxxxx xxx, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.option:
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%a) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild Rebuild or restore the Premises to their condition prior to the damage or destruction., or
D. (b) Terminate this Lease, provided that the Premises is damaged to the extent of twenty percent (20%) of the replacement cost thereof or to any extent if (i) the damage is not covered by insurance, and/or (ii) the damage occurs during the last twelve (12) months of the Lease Term. Landlord shall give Tenant notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Lease. In the event that, pursuant to any of the foregoing provisions, Landlord chooses agrees to rebuild or restore the Premises, Landlord shallshall do so promptly at its expense. Except when such damage is caused by Tenant or Tenant's agents, employees or contractors and there is no rental loss insurance proceeds payable, Tenant shall be entitled to a reduction in Rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within thirty one hundred eighty (30180) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving thirty (30) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall include the Premises initial Tenant Improvements, but shall not include restoration of Tenant’s trade 's fixtures, equipment, (including telecommunication equipment, whether or not located within the Premises), merchandise, or any improvements, alterations alterations, or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions any statutory rights of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 termination which may arise by reason of any partial or total destruction of the California Civil CodePremises. In the event the damage or destruction of law changesthe Premises is caused by Tenant or Tenant's employees, any references to outdated laws agents or independent contractors, Tenant shall refer to pay the closest replacement laws throughout this lease as determined by deductible portion of Landlord's insurance proceeds.
Appears in 1 contract
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured perilin whole or in part form any cause, except for routine maintenance and repairs and incidental damage and destruction caused form vandalism and accidents for which Tenant is responsible for under Paragraph 10, Landlord or Tenant may, upon written notice at its option:
(A) Rebuild ox xxxxxxx xxx Xxxxxxxx to the othercondition prior to the damage or destruction; or
(B) Terminate this Lease, given (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days after from the occurrence destruction of such damage the Premises of its election to either rebuild and restore them, or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premisesthem, in which event Landlord shallagrees, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in rent while such repair is being made in the event that, pursuant to any proportion that the area of the foregoing provisions, Landlord chooses Premises rendered untenantable by such damage bears to rebuild or restore the total area of the Premises, . If Landlord shall, within thirty initially estimates that the rebuilding or restoration will exceed one hundred eighty (30180) days after or if Landlord does not complete the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair rebuilding or restoration within one hundred eighty (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210180) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore ), then Tenant shall have the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two by giving fifteen (215) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by days prior written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedLandlord. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage Notwithstanding anything herein to the Building contrary. Landlord's obligation to rebuild or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will restore shall be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice limited to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force building and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid interior improvements constructed by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease Landlord as determined by Landlord.they existed as
Appears in 1 contract
Samples: Lease Agreement (Ipass Inc)
Destruction. A. In the event that more than a quarter any portion of the Premises are destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expenseexpenses, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. . In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty ninety percent (5090%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than ninety percent (90%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. . In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two one hundred ten eighty (210180) days from the date issuance of the damagea building permit, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agenciespublication, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.the
Appears in 1 contract
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril cause, Landlord may, at its option:
(a) Rebuild or restore the Premises to the condition prior to the damage or destruction as provided for herein, or
(b) Terminate this Lease if either (i) the Premises is damaged to the extent of fifty percent (50%) or more of the then replacement cost cost, exclusive of footings, foundations and floor slabs or (ii) in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent (100%) of the Premisesrebuilding costs. However, in such event of Landlord’s election to terminate for a Shortfall, Tenant shall have the right to elect to pay to Landlord or Tenant may, upon the Shortfall provided it provides Landlord with written notification of its commitment to do so within five (5) business days of receipt of Landlord’s notice to terminate the other, given Lease as provided in this section (ii) and agrees to fund the Shortfall by making payment to Landlord within thirty (30) days after of receipt of Landlord’s invoice for said Shortfall. If Landlord does not give Tenant notice in writing within thirty (30) days from the occurrence destruction of such damage the Premises of its election to either rebuild and restore them, or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premisesthem, in which event Landlord shallagrees, at its expenseexpense except for any deductible, which is the responsibility of the Tenant, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.
C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in Rent from the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence date of such damage or destructiondestruction (provided (i) said areas so damaged cannot be used by Tenant and (ii) Tenant is not using any portion of such damaged area, provide Tenant with written notice while such repair is being made in the proportion that the area of the time required for Premises rendered untenantable by such repair or restoration (“Landlord’s Repair Notice”damage bears to the total area of the Premises). If such period is longer than Landlord initially estimates that the rebuilding or restoration will exceed two hundred ten (210200) days from following the date of the damage, Tenant may, within thirty destruction (30“Estimated Repair Period”) days after receipt of Landlord’s notice, elect (such Estimated Repair Period to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoesembargos, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), and provided that the damage or destruction was not caused from maintenance and/or repairs by Tenant or damage or destruction caused by vandalism and accidents for which any or all of the Tenant Related Parties are responsible, Tenant shall have the right to terminate this Lease by giving written notice to Landlord of its election to terminate within ten (10) business days following receipt of Landlord’s notice to Tenant. In the event Tenant does not timely deliver such notice to Landlord, Tenant shall not have a further right to terminate the Lease. Notwithstanding anything herein to the contrary, Landlord’s obligation to repair rebuild or restore shall be limited to the Premises Building and Landlord’s Interior Improvements constructed by Landlord as they existed under the Construction Agreement and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant’s sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended canceled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions provision of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. Multi Tenant/Single Parcel Page 28 of 55 Initial: /S/ JA; RP; VP In any event that the event of law changes, any references to outdated laws shall refer Building in which the Premises are situated is damaged or destroyed to the closest extent of not less than fifty percent (50%) of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease Lease, whether the Premises be injured or not. If Landlord elects to terminate the Lease early due to destruction as determined by Landlordprovided herein and Tenant is not responsible in part or in whole for said damage, Tenant shall not be liable for the insurance deductible as it relates to the Premises; however (i) if Landlord does not elect to terminate and/or (ii) if Tenant elects to terminate and/or is responsible in part or in whole for said damage, Tenant shall remain liable for payment of the insurance deductible as it relates to the Premises.
Appears in 1 contract
Destruction. A. In the event that more than a quarter the Building, the Demised Premises or the parking facilities serving the tenants of the Building (the “Building Parking Facilities”) (together the “Project”) are damaged or destroyed by fire or other casualty (“Casualty”), the rights and obligations of Landlord and Tenant shall be governed by the provisions of this section.
(a) If the Project or a substantial portion thereof (which may or may not include all or a part of the Demised Premises), or the Building systems or structural components of the Building (whether or not the Demised Premises are directly affected) are substantially damaged or destroyed by an uninsured peril, Landlord and such damage or Tenant may, upon written notice destruction is to the otherextent that in the reasonable opinion of Xxxxxxxx’s architect delivered in writing to both parties within forty-five (45) days after date of a Casualty (the “Damage Date”), given the damage cannot be repaired or restored within thirty two hundred forty (30240) days after the occurrence of such damage or destructionDamage Date, elect to Landlord may terminate this Lease; provided, however, that either party may, Lease by giving Tenant notice within thirty ninety (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (3090) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policyDamage Date.
C. In (b) If the event the Demised Premises are damaged or destroyed from by Casualty, or if any insured peril to the extent of less than fifty percent (50%) portion of the then replacement cost Project other than the Demised Premises (including, without limitation, the Building or the Building Parking Facilities) is damaged by Casualty such that Tenant’s ability to conduct operations in the Demised Premises or to access the Demised Premises or the Project is materially adversely affected and if, in the reasonable opinion of the Premises, Landlord may, at Landlord’s expensearchitect, promptly rebuild or restore the Premises given in writing to their condition prior to the damage or destruction.
D. In the event that, pursuant to any of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, both parties within thirty forty-five (3045) days after the occurrence of Damage Date, the Demised Premises and such damage or destruction, provide Tenant with written notice other portions of the time required for such repair Project cannot be repaired or restoration (“Landlord’s Repair Notice”). If such period is longer than restored to the condition in all material respects that existed prior to the Casualty within two hundred ten forty (210) days from the date of the damage, Tenant may, within thirty (30240) days after receipt of Landlord’s noticethe Damage Date, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written giving notice to Landlord within thirty ninety (3090) days after the expiration of such period, as Damage Date. In addition to the same may be so extended. Additionallytermination right granted to Tenant under the preceding sentence, if the PremisesDemised Premises are damaged or destroyed by Casualty, or any part thereof, or if any portion of the Building necessary for Project other than the Demised Premises is damaged by Casualty such that Tenant’s use ability to conduct operations in the Demised Premises or to access the Demised Premises or the Project is materially adversely affected, and if the Demised Premises and/or such portion of the Premises, Project are damaged not materially restored by Landlord to the extent required of Landlord hereunder on or destroyed during before the last twelve date which is one two hundred forty (12240) months of days after the Term, or any extension thereofDamage Date, Tenant may shall have the right to terminate this Lease by giving written notice thereof to Landlord within thirty on or before the earlier to occur of (30i) the date which is one two hundred forty (240) days after the Damage Date, or (ii) the date that Landlord has substantially completed the restoration of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Demised Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which Building required for access to the Demised Premises, as the case may be; provided however, that if construction or reconstruction is delayed because of changes, deletions or additions in construction requested by Tenant, or because of Unavoidable Delays as defined in Section 37 hereof, the two hundred forty (240) day period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so rendered unusable) in delayed, but unless the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Noticedelay is caused by Tenant, the damage will take in excess of two hundred ten extension under this provision shall not exceed an additional sixty (21060) days from days.
(c) If neither Landlord nor Tenant has the date of damage right to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, or if the party or parties that have the right to terminate this Lease shall remain do not exercise such right within the time and in full force and effect; the manner as hereinabove provided, however, Landlord shall have the Building and leasehold improvements in the Demised Premises repaired or restored to the condition in all material respects that during existed prior to the Casualty at the sole expense of Landlord. An equitable abatement in Rent shall be allowed from the Damage Date for Tenant’s loss of use or access until such time that the damage has been repaired or restored in all material respects to its condition prior to the Casualty; provided that to the extent that any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account portion of the Demised Premises and this Lease is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in proportion full. Xxxxxxxx’s architect shall deliver a notice to both parties within forty-five (45) days after the area Damage Date stating the time required to repair and restore the damage caused by any Casualty and if Landlord is obligated hereunder to repair and restore such damage, Landlord shall use all reasonable efforts in good faith to repair and restore such damage within the estimated time period.
(d) Unless this Lease is terminated as aforesaid as a result of any Casualty, Landlord shall use reasonable efforts in good faith to have such repairs promptly commenced and diligently pursued so as not to unnecessarily interfere with the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient use or enjoyment of or access to the Demised Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Samples: Lease (ASC Acquisition LLC)
Destruction. A. In the event that more than a quarter of the Premises are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s sole cost and expense, in which event this Lease shall, subject to Section 16.D below, remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. In the event the Premises are damaged destroyed in whole or in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord or except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under Xxxxxxxxx 00, Xxxxxxxx may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy.destruction, or
C. In the event (b) Terminate this Lease (providing that the Premises are is damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) 33 1/3% of the then replacement cost cost). If Landlord does not give Tenant notice in writing within (30) days from the destruction of the PremisesPremises of its election to either rebuild and restore them, or to terminate this Lease, Landlord mayshall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at Landlord’s its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction.
D. In . Tenant shall be entitled to a reduction in rent while such repair is being made in the event that, pursuant to any proportion that the area of the foregoing provisions, Landlord chooses Premises rendered untenantable by such damage bears to rebuild or restore the total area of the Premises, . If Landlord shall, initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within thirty one hundred eighty (30180) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from following the date of the damage, Tenant may, within thirty destruction (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to repair rebuild or restore shall be limited to the Premises building and interior improvements constructed by Landlord as they existed as of the commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if which Tenant was entitled to but elected not to exercise its right to terminate shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease and Landlord does is not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended cancelled according to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extendedprovisions above. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer that the building in which the Premises are situated is damaged or destroyed to the closest extent of not less than 33 1/3% of the replacement laws throughout cost thereof, Landlord may elect to terminate this lease as determined by LandlordLease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Destruction. A. In the event that more than a quarter any portion of the Premises are destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event neither party elects to terminate this Lease as provided in the foregoing sentence, subject then Landlord shall be deemed to Section 16.D below.
B. have elected to restore or repair the Premises at Landlord's sole cost and expense, in which event this Lease shall remain in full force and effect and Landlord shall thereafter diligently proceed with such repairs and/or restoration. For purposes of this paragraph, the term "uninsured peril" shall not include a peril which would have been covered by Landlord if Landlord had carried the insurance required under the terms of this Lease. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%5011) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the 24 occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the 'insurance policy.
C. . In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord mayshall, at Landlord’s 's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance po licy. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two hundred ten one hundred eighty (210180) days from the date issuance of the damagea building permit, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. If the repairs or restoration are not completed within two hundred seventy (270) days after the date of the damage or destruction, Tenant may elect to terminate this Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agenciespublication, labor disputes, strikes, strikes fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding Landlord and Tenant shall each have the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete if (a) the repair and restoration of damage to the Premises within two (2) months after the expiration of the estimated period of occurs at any time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve eighteen (1218) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty Term and (30b) it is estimated that the necessary repairs will take more than sixty (60) days after to complete from the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F belowdamage. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; 25 provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business Tenaxx'x xusiness thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Samples: Consent of Landlord to Proposed Sublease (Ag Associates Inc)
Destruction. A. In the event that more than a quarter any portion of the Premises are destroyed or damaged by an uninsured perilperil to the extent of five percent (5%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party’s 's sole cost and expense, in which event this Lease shall, subject to Section 16.D below, shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D below.
B. . In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the otherTenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party Landlord does not give such notice in writing within such period, the parties Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction Tenant's Pro-Rata Share of the amount of any deductible from the insurance policy.
C. . In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises or by any uninsured peril to the extent of less than five percent (5%) of the then replacement cost of the Premises, Landlord mayshall, at Landlord’s 's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction.
D. destruction and Tenant shall pay to Landlord upon commencement of reconstruction Tenant's Pro-Rata Share of the amount of any deductible from the insurance policy. In the event that, pursuant to any of the foregoing provisions, Landlord chooses is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”)restoration. If such period is longer than two one hundred ten eighty (210180) days from the date issuance of the damagea building permit, Tenant may, within thirty (30) days after receipt of Landlord’s 's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminateterminate as of the date of destruction. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s 's obligation to repair or restore the Premises shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of damage to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s 's business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
Appears in 1 contract
Destruction. Paragraph 21 is modified by the following:
A. In Notwithstanding anything to the contrary within Paragraph 21, Landlord may terminate this Lease in the event that more than a quarter of an uninsured event or if insurance proceeds, net of the Premises deductible, are destroyed by an uninsured peril, Landlord or Tenant may, upon written notice insufficient to cover one hundred percent of the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Leaserebuilding costs; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect Tenant shall have the right to make any required repairs and/or restoration at such party’s sole cost and expenseelect, in which event this Lease shallits discretion, subject to Section 16.D below, remain in full force and effect, and contribute such excess funds to permit Landlord to repair the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration, subject to Section 16.D belowPremises.
B. In Except as provided in Pxxxxxxxx 00X, Xxxxxxxx may not terminate the event Lease if the Premises are damaged from any insured by a peril whereby the cost to the extent of fifty replace and/or repair is one hundred percent (50100%) or more of covered by the then replacement cost of the Premisesinsurance carried by Landlord pursuant to Paragraph 12, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If a party does not give such notice in writing within such period, the parties but instead shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to in the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policymanner described by Paragraph 21.
C. In the event If the Premises are damaged by a peril covered by the insurance carried by Landlord pursuant to Pxxxxxxxx 00, Xxxxxxxx shall have the option to terminate the Lease if each of the following conditions is satisfied: (i) the cost to repair or destroyed from any insured peril to the extent of less than fifty damage exceeds thirty-three percent (5033%) of the then replacement cost of the Premises, Landlord may, at Landlord’s expense, promptly rebuild or restore the Premises to their condition prior to ; and (ii) the damage or destruction.
D. In occurs at a time when there is less than five (5) years remaining in the event that, pursuant to any term of the foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration (“Landlord’s Repair Notice”). If such period is longer than two hundred ten (210) days from the date of the damage, Tenant may, within thirty (30) days after receipt of Landlord’s notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of Public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, ability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord’s obligation to repair or restore the Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the PremisesLease. Notwithstanding the foregoing, if such damage occurs at a time when there is less than five (5) years remaining in the term of the Lease and Landlord notifies Tenant was entitled of Landlord’s election to but elected terminate the Lease pursuant to the provisions of this Paragraph 61B, if Tenant has the right to extend the term of this Lease pursuant to either Paragraph 41 or 42 such that the remaining term of the Lease (including the option period) will be more than five (5) years following the date of such damage, this Lease shall not terminate if Tenant notifies Landlord in writing of Tenant’s exercise of an option to exercise extend granted to Tenant by either Paragraph 41 or 42. In such event, this Lease shall not terminate, the term shall be so extended, and Landlord shall restore the Premises in the manner provided in Paragraph 21.
D. If Landlord fails to obtain insurance as required pursuant to Paragraph 12, and said insurance would have been available to cover any damage or destruction to the Premises, Landlord shall be required to rebuild, at its right cost, net of the deductible which would have been required under said insurance policy (which deductible Tenant is required to pay).
E. If the Premises are damaged by any peril, then as soon as reasonably practicable, Landlord shall furnish Tenant with the written opinion of Landlord’s architect or construction consultant as to when the restoration work required of Landlord may be completed. Tenant shall have the option to terminate this Lease and in the event any of the following occurs, which option may be exercised only by delivery to Landlord does of a written notice of election to terminate within seven (7) days after Tenant receives from Landlord the estimate of the time needed to complete such restoration:
(1) The Premises are damaged by any peril (not substantially complete caused by or resulting from an action of Tenant or Tenant’s agents, employees, contractors or invitees) and, in the repair and reasonable opinion of Landlord’s architect or construction consultant, the restoration of the Leased Premises cannot be substantially completed within two 180 days after the date of such damage (subject to force majeure conditions); or
(2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of The Premises are damaged by any delays peril (not caused by Tenant, then or resulting from an action of Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or any part thereof, or any portion of the Building necessary for Tenant’s use of the Premisesagents, are damaged employees, contractors or destroyed during the last invitees) within twelve (12) months of the Termlast day of the Lease term and provided Tenant has not exercised an option to renew pursuant to the provisions of Paragraph 41 or 42, and, in the reasonable opinion of Landlord’s architect or any extension thereofconstruction consultant, Tenant may terminate this Lease by giving written notice thereof to Landlord the restoration of the Leased Premises cannot be substantially completed within thirty sixty (3060) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises.
E. In the event of such damage and Tenant has not exercised its Option to the Building or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises Extend said Term (or a material portion thereofExtended Term as the case may be), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice.
F. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant’s business thereon. Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event of law changes, any references to outdated laws shall refer to the closest replacement laws throughout this lease as determined by Landlord.
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Samples: Lease Agreement (Maxtor Corp)
