Common use of Duty to Restore Clause in Contracts

Duty to Restore. Subject to the provisions of Section 14.2, if at any time during the Term the Premises, the building in which the Premises is located, the Common Area and/or the Center are destroyed or damaged and either (a) such damage is not “substantial” as that term is hereinafter defined, or (b) such damage is an “insured loss” as that term is hereinafter defined, then Landlord shall commence the repair of any such damage to the Premises within ninety (90) days following the date of such damage and this Lease shall continue in full force and effect; it being agreed that Landlord shall have no obligation to Tenant with respect to any repair of the building in which the Premises is located or the Center, except for the Premises. In such event, Landlord shall only be required to repair so much of the Premises as Landlord was required initially to construct under Article 3, and Tenant shall be required to repair so much of the Premises as Tenant initially was required to construct under Article 3. Subject to any then applicable legal requirements or the requirement of any governmental authority having jurisdiction over such repairs, any portion of the Premises as so repaired by Landlord shall be substantially similar to such portion of the Premises as such portion existed just prior to such damage. Notwithstanding the foregoing, if (i) there are insufficient insurance proceeds to pay the cost of such repair, (ii) such proceeds are not made available to Landlord, (iii) Landlord is restricted by any governmental authority, in performing such repair, or (iv) such casualty is due to the acts or omissions of Tenant, Tenant’s affiliates, employees, agents, contractors, attorneys, invitees, or licensees or any similar person, then, in addition to its other rights and remedies, Landlord may elect, without limitation, to terminate this Lease. Landlord shall not be obligated to repair or restore Tenant’s Work or Tenant’s stock in trade, trade fixtures and personal property unless damage was due to Landlord’s negligence or willful misconduct. In the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's reasonable specifications. All such repair work shall be performed by Xxxxxxxx's Tenant’s contractor unless Landlord shall otherwise agree in writing. Tenant, at its sole cost and expense, shall be responsible for the repair and restoration of all of its improvements within the Premises, including without limitation those improvements that were the initial responsibility of Tenant under the Work Letter, and the replacement and installation of its stock in trade, trade fixtures, furniture, furnishings and equipment. Subject to Article 11, Tenant shall commence the repair of those improvements that were the initial responsibility of Tenant and the installation and replacement of its stock in trade, trade fixtures, furniture, furnishings and equipment promptly upon Landlord’s substantial completion of any repair work to be performed by Landlord and shall diligently prosecute such installation and replacement to completion. For the purpose of this Article 14, “substantial” damage shall be deemed to be damage, the estimated cost of repair of which exceeds twenty-five percent (25%) of the then estimated replacement cost of, as applicable, the Premises, the building in which the Premises is located or the Center. “Insured Loss” shall herein mean damage or destruction which was caused by an event required to be covered whether partially or fully by the insurance described in Article 13. In the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's specifications.

Appears in 2 contracts

Samples: Retail Lease Agreement, Retail Lease Agreement

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Duty to Restore. Subject If the Leased Premises are damaged by any casualty after the Commencement Date, Tenant shall restore fully the Leased Premises to substantially the provisions same condition that existed prior to such casualty. All insurance proceeds shall be promptly made available to Tenant for the payment of Section 14.2, if at any time during the Term the Premises, the building in which the Premises is located, the Common Area and/or the Center are destroyed or damaged repairs and either (a) such damage is not “substantial” as that term is hereinafter defined, or (b) such damage is an “insured loss” as that term is hereinafter defined, then Landlord shall commence the repair of any such damage to the Premises within ninety (90) days following the date restoration of such damage and this Lease shall continue in full force and effector casualty; it being agreed provided that Landlord shall have no obligation such proceeds may be made available to Tenant with respect subject to any repair reasonable conditions and customary construction loan disbursement procedures, including provision by Tenant of the building in which the Premises is located or the Center, except for the Premises. In such event, Landlord shall only be required to repair so much an independent architect's certification of the Premises as Landlord was required initially to construct under Article 3, and Tenant shall be required to repair so much of the Premises as Tenant initially was required to construct under Article 3. Subject to any then applicable legal requirements or the requirement of any governmental authority having jurisdiction over such repairs, any portion of the Premises as so repaired by Landlord shall be substantially similar to such portion of the Premises as such portion existed just prior to such damage. Notwithstanding the foregoing, if (i) there are insufficient insurance proceeds to pay the cost of such repairrepair or restoration, together with plans and specifications therefor and shall be deemed made available for such repair or restoration if they are made available through and are disbursed under such reasonable conditions and customary construction loan disbursement procedures. In the event of damage to or destruction of the Leased Premises which results in Tenant's loss of use of the Leased Premises, or a portion thereof, and the cost of repair and replacement is less than one million dollars (ii$1,000,000), as shall be established by Tenant to Landlord by written notice accompanied by an independent architect's certification of cost, then if insurance proceeds are not made available to Tenant for repair and restoration within thirty (30) days from the date that any such proceeds shall have been made available to Landlord or a Lender, and providing Tenant is not in default under the Lease, Tenant may xxxxx Base Annual Rent in the same proportion as the rentable square footage rendered unusable by such damage or destruction bears to the total rentable square footage of the Leased Premises; provided that Tenant shall not be entitled to such Base Annual Rent abatement until ten (10) business days following written notice by Tenant to Landlord and any Lender identified as a named insured under the policy or policies of insurance on the Leased Premises that such proceeds have not been made available to Tenant within such thirty (30) day period and, following such notice, such proceeds are not made available to Landlord, Tenant within such ten (iii10) Landlord is restricted by any governmental authority, day period. Base Annual Rent abatement shall continue until all such insurance proceeds are made available to Tenant. In the event of damage to or destruction of the Leased Premises which results in performing such repairTenant's loss of use of the Leased Premises, or a portion thereof, and the cost of repair and replacement is more than one million dollars (iv$1,000,000), as shall be established by Tenant to Landlord by written notice accompanied by an architect's certification of cost, then if insurance proceeds are not made available to Tenant for repair and restoration within thirty (30) days from the date that any such casualty proceeds shall have been made available to Landlord or a Lender, and providing Tenant is due to not in default under the acts or omissions of TenantLease, Tenant’s affiliates, employees, agents, contractors, attorneys, invitees, or licensees or any similar person, then, in addition to its other rights and remedies, Landlord Tenant may elect, without limitation, terminate this Lease; provided that Tenant shall not be entitled to terminate this LeaseLease until ten (10) business days following written notice by Tenant to Landlord and any Lender identified as a named insured under the policy or policies of insurance on the Leased Premises that such LOT B proceeds have not been made available to Tenant within such thirty (30) day period and, following such notice, such proceeds are not made available to Tenant within such ten (10) day period. Landlord Unless Tenant is in default under this Lease or its not complying with Tenant's obligations under Article IX, Tenant shall not be obligated to repair or restore Tenant’s Work or Tenant’s stock expend any amount in trade, trade fixtures and personal property unless damage was due to Landlord’s negligence or willful misconductexcess of the amount of insurance deductibles plus insurance proceeds made available for such restoration. In Upon the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's reasonable specifications. All such repair work shall be performed by Xxxxxxxx's Tenant’s contractor unless Landlord shall otherwise agree in writing. Tenant, at its sole cost and expense, shall be responsible for the repair and restoration issuance of all of its improvements within the Premises, including without limitation those improvements that were the initial responsibility of Tenant under the Work Letter, and the replacement and installation of its stock in trade, trade fixtures, furniture, furnishings and equipment. Subject to Article 11necessary governmental permits, Tenant shall commence the repair of those improvements that were the initial responsibility of Tenant and the installation and replacement of its stock in trade, trade fixtures, furniture, furnishings and equipment promptly upon Landlord’s substantial completion of any repair work to be performed by Landlord and shall diligently prosecute such installation and replacement to completion. For completion the purpose of this Article 14, “substantial” damage shall be deemed to be damage, the estimated cost of repair of which exceeds twenty-five percent (25%) restoration of the then estimated replacement cost of, as applicable, the Leased Premises, to the building in which extent then allowed by Laws, to substantially the Premises is located or the Center. “Insured Loss” shall herein mean same condition as that existing immediately prior to such damage or destruction which was caused by an event required to be covered whether partially or fully by the insurance described in Article 13. In the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's specificationsdestruction.

Appears in 1 contract

Samples: Lease Agreement (Corporate Office Properties Trust Inc)

Duty to Restore. Subject to the provisions of Section 14.2If, if at any time during the Term the Premisesterm of this Lease, or any renewals thereof, or any period of holding over hereunder, the building in which Premises or the Premises Building is locateddamaged or rendered totally or partially inaccessible or unusable by fire or other casualty, the Common Area and/or the Center are destroyed or damaged and either (a) such damage is not “substantial” as that term is hereinafter defined, or (b) such damage is an “insured loss” as that term is hereinafter defined, then Landlord shall commence the repair of any such damage to the Premises within ninety (90) days following the date of such damage and this Lease shall continue in full force and effect; it being agreed that , except as hereinafter provided, and Landlord diligently and as soon as practicable after such damage occurs (taking into account the time necessary to effectuate a satisfactory settlement with any insurer involved with Landlord exercising good faith efforts to attain a settlement as soon as reasonably possible) shall have no obligation restore and repair the Premises and the Building to Tenant with respect to any repair of substantially the building same condition in which they were found prior to such fire or other casualty, exclusive of alterations required to be restored or repaired by Tenant hereunder. If such fire or other casualty was not caused by the Premises is located carelessness, omission, neglect or the Centerimproper conduct of Tenant or Tenant's agents, except for the Premises. In such eventemployees, contractors, invitees or licensees, Landlord shall only be required to repair so much of bear the Premises as Landlord was required initially to construct under Article 3, costs and Tenant shall be required to repair so much of the Premises as Tenant initially was required to construct under Article 3. Subject to any then applicable legal requirements or the requirement of any governmental authority having jurisdiction over such repairs, any portion of the Premises as so repaired by Landlord shall be substantially similar to such portion of the Premises as such portion existed just prior to such damage. Notwithstanding the foregoing, if (i) there are insufficient insurance proceeds to pay the cost expenses of such restoration and repair. If however such fire or other casualty was caused by the carelessness, (ii) such proceeds are not made available to Landlordomission, (iii) Landlord is restricted by any governmental authority, in performing such repair, neglect or (iv) such casualty is due to the acts improper conduct of Tenant or omissions of Tenant, Tenant’s affiliates's agents, employees, agentscontractors' invitees or licensees, contractors, attorneys, invitees, or licensees or any similar person, then, in addition to its other rights and remedies, Landlord may elect, without limitationthen Tenant, to terminate the extent such actions contributed to such fire or other casualty, shall bear the cost and expense of such restoration and repair. If this Lease. Landlord Lease is not terminated, as hereinafter provided, Tenant shall not be obligated to repair or restore Tenant’s Work or Tenant’s stock in trade, trade fixtures and personal property unless damage was due to Landlord’s negligence or willful misconduct. In the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's reasonable specifications. All such repair work shall be performed by Xxxxxxxx's Tenant’s contractor unless Landlord shall otherwise agree in writing. Tenantrepair, at its Tenant's sole cost and expense, any alterations made by Tenant in or to the Premises or the Building which are damaged or destroyed by fire or other casualty during the term of this Lease or during any period of holding over hereunder to substantially the same condition in which they were found prior to such fire or other casualty or Tenant shall request alterations thereto which are subject to Landlord's reasonable consent. Tenant shall be responsible for bound by the repair and restoration provisions of all of its improvements within the Premises, including without limitation those improvements that were the initial responsibility of Tenant under the Work Letter, and the replacement and installation of its stock in trade, trade fixtures, furniture, furnishings and equipment. Subject to Article 11, Tenant shall commence the repair of those improvements that were the initial responsibility of Tenant and the installation and replacement of its stock in trade, trade fixtures, furniture, furnishings and equipment promptly upon Landlord’s substantial completion of any repair work to be performed by Landlord and shall diligently prosecute such installation and replacement to completion. For the purpose 9 of this Article 14, “substantial” damage shall be deemed to be damage, the estimated cost of Lease in making any restoration or repair of which exceeds twenty-five percent (25%) of the then estimated replacement cost of, as applicable, the Premises, the building in which the Premises is located required or the Center. “Insured Loss” shall herein mean damage or destruction which was caused permitted by an event required to be covered whether partially or fully by the insurance described in Article 13. In the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's specificationsparagraph.

Appears in 1 contract

Samples: Exigent International Inc

Duty to Restore. Subject to the provisions of Section 14.2, if at any time during the Term the Premises, the building in which the Premises is located, the Common Area and/or the Center are destroyed or damaged and either (a) such damage is not “substantial” as that term is hereinafter defined, or (b) such damage is an “insured loss” as that term is hereinafter defined, then Landlord shall commence the repair of any such damage to the Premises within ninety (90) days following the date of such damage and this Lease shall continue in full force and effect; it being agreed that Landlord shall have no obligation to Tenant with respect to any repair of the building in which the Premises is located or the Center, except for the Premises. In such event, Landlord shall only be required to repair so much of the Premises as Landlord was required initially to construct under Article 3, and Tenant shall be required to repair so much of the Premises as Tenant initially was required to construct under Article 3. Subject to any then applicable legal requirements or the requirement of any governmental authority having jurisdiction over such repairs, any portion of the Premises as so repaired by Landlord shall be substantially similar to such portion of the Premises as such portion existed just prior to such damage. Notwithstanding the foregoing, if (i) there are insufficient insurance proceeds to pay the cost of such repair, (ii) such proceeds are not made available to Landlord, (iii) Landlord is restricted by any governmental authority, in performing such repair, or (iv) such casualty is due to the acts or omissions of Tenant, Tenant’s affiliates, employees, agents, contractors, attorneys, invitees, or licensees or any similar person, then, in addition to its other rights and remedies, Landlord may elect, without limitation, to terminate this Lease. Landlord shall not be obligated to repair or restore Tenant’s Work or Tenant’s stock in trade, trade fixtures and personal property unless damage was due to Landlord’s negligence or willful misconduct. In the event of any repair under this Article 14 by XxxxxxTenant, said repair shall be in strict conformity with Landlord's reasonable specifications. All such repair work shall be performed by XxxxxxxxLandlord's Tenant’s contractor unless Landlord shall otherwise agree in writing. Tenant, at its sole cost and expense, shall be responsible for the repair and restoration of all of its improvements within the Premises, including without limitation those improvements that were the initial responsibility of Tenant under the Work Letter, and the replacement and installation of its stock in trade, trade fixtures, furniture, furnishings and equipment. Subject to Article 11, Tenant shall commence the repair of those improvements that were the initial responsibility of Tenant and the installation and replacement of its stock in trade, trade fixtures, furniture, furnishings and equipment promptly upon Landlord’s substantial completion of any repair work to be performed by Landlord and shall diligently prosecute such installation and replacement to completion. For the purpose of this Article 14, “substantial” damage shall be deemed to be damage, the estimated cost of repair of which exceeds twenty-five percent (25%) of the then estimated replacement cost of, as applicable, the Premises, the building in which the Premises is located or the Center. “Insured Loss” shall herein mean damage or destruction which was caused by an event required to be covered whether partially or fully by the insurance described in Article 13. In the event of any repair under this Article 14 by XxxxxxTenant, said repair shall be in strict conformity with Landlord's specifications.

Appears in 1 contract

Samples: Retail Lease Agreement

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Duty to Restore. Subject If the Leased Premises are damaged by any casualty after the Commencement Date, Tenant shall restore fully the Leased Premises to substantially the provisions same condition that existed prior to such casualty. All insurance proceeds shall be promptly made available to Tenant for the payment of Section 14.2, if at any time during the Term the Premises, the building in which the Premises is located, the Common Area and/or the Center are destroyed or damaged repairs and either (a) such damage is not “substantial” as that term is hereinafter defined, or (b) such damage is an “insured loss” as that term is hereinafter defined, then Landlord shall commence the repair of any such damage to the Premises within ninety (90) days following the date restoration of such damage and this Lease shall continue in full force and effector casualty; it being agreed provided that Landlord shall have no obligation such proceeds may be made available to Tenant with respect subject to any repair reasonable conditions and customary construction loan disbursement procedures, including provision by Tenant of the building in which the Premises is located or the Center, except for the Premises. In such event, Landlord shall only be required to repair so much an independent architect's certification of the Premises as Landlord was required initially to construct under Article 3, and Tenant shall be required to repair so much of the Premises as Tenant initially was required to construct under Article 3. Subject to any then applicable legal requirements or the requirement of any governmental authority having jurisdiction over such repairs, any portion of the Premises as so repaired by Landlord shall be substantially similar to such portion of the Premises as such portion existed just prior to such damage. Notwithstanding the foregoing, if (i) there are insufficient insurance proceeds to pay the cost of such repairrepair or restoration, together with plans and specifications therefor and shall be deemed made available for such repair or restoration if they are made available through and are disbursed under such reasonable conditions and customary construction loan disbursement procedures. In the event of damage to or destruction of the Leased Premises which results in Tenant's loss of use of the Leased Premises, or a portion thereof, and the cost of repair and replacement is less than one million dollars (ii$1,000,000), as shall be established by Tenant to Landlord by written notice accompanied by an independent architect's certification of cost, then if insurance proceeds are not made available to Tenant for repair and restoration within thirty (30) days from the date that any such proceeds shall have been made available to Landlord or a Lender, and providing Tenant is not in default under the Lease, Tenant may xxxxx Base Annual Rent in the same proportion as the rentable square footage rendered unusable by such damage or destruction bears to the total rentable square footage of the Leased Premises; provided that Tenant shall not be entitled to such Base Annual Rent abatement until ten (10) business days following written notice by Tenant to Landlord and any Lender identified as a named insured under the policy or policies of insurance on the Leased Premises that such proceeds have not been made available to Tenant within such thirty (30) day period and, following such notice, such proceeds are not made available to Landlord, Tenant within such ten (iii10) Landlord is restricted by any governmental authority, day period. Base Annual Rent abatement shall continue until all such insurance proceeds are made available to Tenant. In the event of damage to or destruction of the Leased Premises which results in performing such repairTenant's loss of use of the Leased Premises, or a portion thereof, and the cost of repair and replacement is more than one million dollars (iv$1,000,000), as shall be established by Tenant LOT C to Landlord by written notice accompanied by an architect's certification of cost, then if insurance proceeds are not made available to Tenant for repair and restoration within thirty (30) days from the date that any such casualty proceeds shall have been made available to Landlord or a Lender, and providing Tenant is due to not in default under the acts or omissions of TenantLease, Tenant’s affiliates, employees, agents, contractors, attorneys, invitees, or licensees or any similar person, then, in addition to its other rights and remedies, Landlord Tenant may elect, without limitation, terminate this Lease; provided that Tenant shall not be entitled to terminate this LeaseLease until ten (10) business days following written notice by Tenant to Landlord and any Lender identified as a named insured under the policy or policies of insurance on the Leased Premises that such proceeds have not been made available to Tenant within such thirty (30) day period and, following such notice, such proceeds are not made available to Tenant within such ten (10) day period. Landlord Unless Tenant is in default under this Lease or its not complying with Tenant's obligations under Article IX, Tenant shall not be obligated to repair or restore Tenant’s Work or Tenant’s stock expend any amount in trade, trade fixtures and personal property unless damage was due to Landlord’s negligence or willful misconductexcess of the amount of insurance deductibles plus insurance proceeds made available for such restoration. In Upon the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's reasonable specifications. All such repair work shall be performed by Xxxxxxxx's Tenant’s contractor unless Landlord shall otherwise agree in writing. Tenant, at its sole cost and expense, shall be responsible for the repair and restoration issuance of all of its improvements within the Premises, including without limitation those improvements that were the initial responsibility of Tenant under the Work Letter, and the replacement and installation of its stock in trade, trade fixtures, furniture, furnishings and equipment. Subject to Article 11necessary governmental permits, Tenant shall commence the repair of those improvements that were the initial responsibility of Tenant and the installation and replacement of its stock in trade, trade fixtures, furniture, furnishings and equipment promptly upon Landlord’s substantial completion of any repair work to be performed by Landlord and shall diligently prosecute such installation and replacement to completion. For completion the purpose of this Article 14, “substantial” damage shall be deemed to be damage, the estimated cost of repair of which exceeds twenty-five percent (25%) restoration of the then estimated replacement cost of, as applicable, the Leased Premises, to the building in which extent then allowed by Laws, to substantially the Premises is located or the Center. “Insured Loss” shall herein mean same condition as that existing immediately prior to such damage or destruction which was caused by an event required to be covered whether partially or fully by the insurance described in Article 13. In the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's specificationsdestruction.

Appears in 1 contract

Samples: Lease Agreement (Corporate Office Properties Trust Inc)

Duty to Restore. Subject If the Leased Premises are damaged by any casualty after the Commencement Date, Tenant shall restore fully the Leased Premises to substantially the provisions same condition that existed prior to such casualty. All insurance proceeds shall be promptly made available to Tenant for the payment of Section 14.2, if at any time during the Term the Premises, the building in which the Premises is located, the Common Area and/or the Center are destroyed or damaged repairs and either (a) such damage is not “substantial” as that term is hereinafter defined, or (b) such damage is an “insured loss” as that term is hereinafter defined, then Landlord shall commence the repair of any such damage to the Premises within ninety (90) days following the date restoration of such damage and this Lease shall continue in full force and effector casualty; it being agreed provided that Landlord shall have no obligation such proceeds may be made available to Tenant with respect subject to any repair reasonable conditions and customary construction loan disbursement procedures, including provision by Tenant of the building in which the Premises is located or the Center, except for the Premises. In such event, Landlord shall only be required to repair so much an independent architect's certification of the Premises as Landlord was required initially to construct under Article 3, and Tenant shall be required to repair so much of the Premises as Tenant initially was required to construct under Article 3. Subject to any then applicable legal requirements or the requirement of any governmental authority having jurisdiction over such repairs, any portion of the Premises as so repaired by Landlord shall be substantially similar to such portion of the Premises as such portion existed just prior to such damage. Notwithstanding the foregoing, if (i) there are insufficient insurance proceeds to pay the cost of such repairrepair or restoration, together with plans and specifications therefor and shall be deemed made available for such repair or restoration if they are made available through and are disbursed under such reasonable conditions and customary construction loan disbursement procedures. In the event of damage to or destruction of the Leased Premises which results in Tenant's loss of use of the Leased Premises, or a portion thereof, and the cost of repair and replacement is less than one million dollars (ii$1,000,000), as shall be established by Tenant to Landlord by written notice accompanied by an independent architect's certification of cost, then if insurance proceeds are not made available to Tenant for repair and restoration within thirty (30) days from the date that any such proceeds shall have been made available to Landlord or a Lender, and providing Tenant is not in default under the Lease, Tenant may LOT A xxxxx Base Annual Rent in the same proportion as the rentable square footage rendered unusable by such damage or destruction bears to the total rentable square footage of the Leased Premises; provided that Tenant shall not be entitled to such Base Annual Rent abatement until ten (10) business days following written notice by Tenant to Landlord and any Lender identified as a named insured under the policy or policies of insurance on the Leased Premises that such proceeds have not been made available to Tenant within such thirty (30) day period and, following such notice, such proceeds are not made available to Landlord, Tenant within such ten (iii10) Landlord is restricted by any governmental authority, day period. Base Annual Rent abatement shall continue until all such insurance proceeds are made available to Tenant. In the event of damage to or destruction of the Leased Premises which results in performing such repairTenant's loss of use of the Leased Premises, or a portion thereof, and the cost of repair and replacement is more than one million dollars (iv$1,000,000), as shall be established by Tenant to Landlord by written notice accompanied by an architect's certification of cost, then if insurance proceeds are not made available to Tenant for repair and restoration within thirty (30) days from the date that any such casualty proceeds shall have been made available to Landlord or a Lender, and providing Tenant is due to not in default under the acts or omissions of TenantLease, Tenant’s affiliates, employees, agents, contractors, attorneys, invitees, or licensees or any similar person, then, in addition to its other rights and remedies, Landlord Tenant may elect, without limitation, terminate this Lease; provided that Tenant shall not be entitled to terminate this LeaseLease until ten (10) business days following written notice by Tenant to Landlord and any Lender identified as a named insured under the policy or policies of insurance on the Leased Premises that such proceeds have not been made available to Tenant within such thirty (30) day period and, following such notice, such proceeds are not made available to Tenant within such ten (10) day period. Landlord Unless Tenant is in default under this Lease or its not complying with Tenant's obligations under Article IX, Tenant shall not be obligated to repair or restore Tenant’s Work or Tenant’s stock expend any amount in trade, trade fixtures and personal property unless damage was due to Landlord’s negligence or willful misconductexcess of the amount of insurance deductibles plus insurance proceeds made available for such restoration. In Upon the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's reasonable specifications. All such repair work shall be performed by Xxxxxxxx's Tenant’s contractor unless Landlord shall otherwise agree in writing. Tenant, at its sole cost and expense, shall be responsible for the repair and restoration issuance of all of its improvements within the Premises, including without limitation those improvements that were the initial responsibility of Tenant under the Work Letter, and the replacement and installation of its stock in trade, trade fixtures, furniture, furnishings and equipment. Subject to Article 11necessary governmental permits, Tenant shall commence the repair of those improvements that were the initial responsibility of Tenant and the installation and replacement of its stock in trade, trade fixtures, furniture, furnishings and equipment promptly upon Landlord’s substantial completion of any repair work to be performed by Landlord and shall diligently prosecute such installation and replacement to completion. For completion the purpose of this Article 14, “substantial” damage shall be deemed to be damage, the estimated cost of repair of which exceeds twenty-five percent (25%) restoration of the then estimated replacement cost of, as applicable, the Leased Premises, to the building in which extent then allowed by Laws, to substantially the Premises is located or the Center. “Insured Loss” shall herein mean same condition as that existing immediately prior to such damage or destruction which was caused by an event required to be covered whether partially or fully by the insurance described in Article 13. In the event of any repair under this Article 14 by Xxxxxx, said repair shall be in strict conformity with Landlord's specificationsdestruction.

Appears in 1 contract

Samples: Lease Agreement (Corporate Office Properties Trust Inc)

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