Common use of Effect of Damage or Destruction Clause in Contracts

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty (120) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty (360) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render the entire Premises unusable during said three hundred sixty (360) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 2 contracts

Samples: Standard Office Lease (Motivating the Masses Inc), Standard Office Lease (Auxilio Inc)

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Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty thirty (12030) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty ninety (36090) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render the entire Premises unusable during said three hundred sixty ninety (36090) day periodperiod for Tenant’s intended use, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 2 contracts

Samples: NNN Lease (SutroVax, Inc.), Vaxcyte, Inc.

Effect of Damage or Destruction. If all or part of the Project Building is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"“damages”), but the Damages damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages damages to the Project as soon as is reasonably possibleBuilding within a commercially reasonable time, and this Lease shall remain in full force and effect. If all or part of the Project Building is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project Building or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionBuilding, but in good faith determines that the Premises cannot be substantially rebuilt or repaired within three two hundred sixty seventy (360270) days after the date of the discovery occurrence of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project Building will render the entire Premises unusable during said three two hundred sixty seventy (360270) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, any such termination to be effective upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) -day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject always to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Eventsbeyond Landlord’s reasonable control. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Work Letter Agreement (Oxigene Inc)

Effect of Damage or Destruction. If Subject to Landlord’s right to terminate this Lease as set forth in Section 13.2 below, if all or part of the Project Premises is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances Materials (as defined below) ), or by any other cause whatsoever (hereinafter collectively referred to as "“Casualty Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Casualty Damages to the Project Premises as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery of such material any damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild the Premises or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty (360) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project Premises will render so much of the entire Premises unusable that Tenant is unable to operate its business in the Premises during said such three hundred sixty (360) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen thirty (1530) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.said

Appears in 1 contract

Samples: Assignment Agreement (Intuity Medical, Inc.)

Effect of Damage or Destruction. If all or part of the Project Building is materially damaged (as defined in Article 18.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release riot or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project Building or to terminate this Lease. Landlord shall within one hundred twenty sixty (12060) days but in no event later than ninety (90) days after the discovery occurrence of such material damage or destruction damage, notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionBuilding, but in good faith determines that the Premises Building cannot be substantially rebuilt or repaired within three two hundred sixty seventy (360270) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render Building has rendered the entire Premises unusable during said three hundred sixty (360) day periodunusable, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent Tenant's negligence or intentional acts of Tenant or its employees, agents, contractors or inviteeswillful misconduct. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Eventsbeyond Landlord's reasonable control. If all or part of the Building is materially damaged during the last eighteen (18) months of the Term of the Lease, Tenant has not exercised its option to extend the Term of the Lease pursuant to Section 3.4 of the Lease, and Landlord is unable to cannot rebuild or repair the damage to the Premises or the Project during such three hundred Building within sixty (36060) day period due to Force Majeure Eventsdays after the occurrence of such material damage, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1then, Tenant shall continue have the right to pay all Base Rentterminate the Lease, Operating Expense increases and other amounts due hereunder which arise prior by providing written notice to Landlord within thirty (30) days after the date occurrence of terminationsuch material damage.

Appears in 1 contract

Samples: Brooks Automation Inc

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty (120) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty (360) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render the entire Premises unusable during said three hundred sixty (360) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure EventsEvents and/or Tenant Delays. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Office Lease (Redaptive, Inc.)

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, fire earthquake flood explosion the elements, riot, elements riot the release or existence of Hazardous Substances (as defined in Section 22 below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), Damages ) but the Damages are not material Material (as defined in Section 9.2 below), ) Landlord shall repair the Damages to the Project as soon as is reasonably possible, possible and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Materially Damaged Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project or to terminate this Lease, PROVIDED LANDLORD TERMINATES ALL OTHER LEASES IN THE Project. Landlord shall within one hundred twenty (120) days after the discovery of such material damage Material Damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, repair or on account of construction, construction or on account of Landlord's Landlord s election to terminate this Lease. Notwithstanding the foregoing, foregoing if Landlord shall elect to rebuild or repair the Project after material damage Material Damage or destruction, destruction but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty TWO HUNDRED SEVENTY (360270) days after the date of the discovery of the material damage Material Damage or destruction, destruction without payment of overtime or other premiums, premiums and the damage Damage to the Project will render the entire Premises unusable during said three hundred sixty TWO HUNDRED SEVENTY (360270) day period, . Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, repair and Tenant shall thereafter have a period of fifteen (15) BUSINESS days within which Tenant may elect to terminate this Lease, Lease upon thirty (30) days' days advance written notice to Landlord. Tenant's TENANT SHALL HAVE A FURTHER RIGHT TO TERMINATE THIS LEASE IF THE PREMISES ARE DAMAGED DURING THE LAST TWELVE (12) MONTHS OF THE TERM OF THE LEASE AND SUCH DAMAGE CANNOT, IN LANDLORD'S REASONABLE JUDGMENT, BE REPAIRED WITHIN NINETY (90) DAYS. Tenant s termination right described in the preceding sentence shall not apply if the damage Damage was caused by the negligent or intentional acts of Tenant or its employees, agents, employees agents contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) BUSINESS day period shall constitute Tenant's Tenants agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, Landlord provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject completion Subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage Damage to the Premises or the Project during such three hundred sixty TWO HUNDRED SEVENTY (360270) day period due to Force Majeure Events, Events the three hundred sixty TWO HUNDRED SEVENTY (360270) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, below if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all ail Base Rent, Rent Operating Expense increases Real Property Tax increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: High Speed Access Corp

Effect of Damage or Destruction. If all or part of the Project is materially damaged (as defined in Section 9.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionProject, but in good faith determines that the Premises Project cannot be substantially built or repaired within three one hundred sixty eighty (360180) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render has rendered the entire Premises unusable during said three hundred sixty (360) day periodunusable, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent negligence, willful misconduct or intentional acts or reckless act or omissions of Tenant or its Tenant’s agents, contractors, employees, agents, contractors or invitees. Failure of Tenant to exercise said election within with said fifteen (15) day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of terminationbeyond Landlord’s reasonable control.

Appears in 1 contract

Samples: Office Lease Agreement (Cross Country Healthcare Inc)

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damagesdamages"), but the Damages damages are not material (as defined in Section section 9.2 below), Landlord shall repair the Damages damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty (120) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty (360) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render the entire Premises unusable during said three hundred sixty (360) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered rendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Office Lease (United Panam Financial Corp)

Effect of Damage or Destruction. If all or part of the Project is materially damaged (as defined in Section 9.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release riot or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this LeaseLease provided that Landlord may terminate this Lease only if it terminates all of the leases in the Building. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionProject, but in good faith determines that the Premises Project cannot be substantially rebuilt or repaired within three one hundred sixty eighty (360180) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render has rendered the entire Premises unusable during said three hundred sixty (360) day periodunusable, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen thirty (1530) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent Tenant's negligence or intentional acts of Tenant or its employees, agents, contractors or inviteeswillful misconduct. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of terminationbeyond Landlord's reasonable control.

Appears in 1 contract

Samples: Letter Agreement (Amisys Managed Care Systems Inc)

Effect of Damage or Destruction. If all or part of the Project Building is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damagesdamages"), but the Damages damages are not material (as defined in Section SECTION 9.2 below), Landlord shall repair the Damages damages to the Project as soon as is reasonably possibleBuilding within a commercially reasonable time, and this Lease shall remain in full force and effect. If all or part of the Project Building is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project Building or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionBuilding, but in good faith determines that the Premises cannot be substantially rebuilt or repaired within three two hundred sixty seventy (360270) days after the date of the discovery occurrence of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project Building will render the entire Premises unusable during said three two hundred sixty seventy (360270) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen thirty (1530) days within which Tenant may elect to terminate this Lease, any such termination to be effective upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) -day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject always to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Eventsbeyond Landlord's reasonable control. Subject to Section SECTION 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section SECTION 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Medicines Co /De

Effect of Damage or Destruction. If all or part of the Project Building is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damagesdamages"), but the Damages damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages damages to the Project Building as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project Building is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project Building or to terminate this Lease. Landlord shall within one hundred twenty sixty (12060) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionBuilding, but in good faith determines that the Premises cannot be substantially rebuilt or repaired within three two hundred sixty ten (360210) days after the date of the discovery occurrence of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project Building will render the entire Premises unusable during said three two hundred sixty ten (360210) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen thirty (1530)) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance Lease by written notice to LandlordLandlord on or before the last day of such 30-day period. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Eventsbeyond Landlord's reasonable control. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination. Notwithstanding anything in this Section 9.1 to the contrary, if the casualty renders fifty percent (50%) or more of the Premises unusable for use or occupancy by Tenant for the conduct of Tenant's business, the casualty occurs during the last twelve (12) months of the Term of the Lease, and Tenant has not exercised its right to extend the Term of the Lease pursuant to Exhibit D hereto, then Tenant shall have the right to terminate the Lease by written notice to Landlord on or before thirty (30) days after Tenant shall have received notice of said casualty or of Landlord's intention to rebuild or restore the Premises as hereinabove provided.

Appears in 1 contract

Samples: Storagenetworks Inc

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall promptly and diligently repair the Damages to the Project as soon as is reasonably possiblepossible to substantially the same condition as of the date of the Damages, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three two hundred sixty forty (360240) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render more than fifty percent (50%) of the entire Premises unusable during said three two hundred sixty forty (360240) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen thirty (1530) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen thirty (1530) day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three two hundred sixty forty (360240) day period due to Force Majeure Events, the three two hundred sixty forty (360240) day period shall be extended by the period of delay caused by the Force Majeure Events; provided, however, in no event shall the two hundred forty (240) day period be extended by more than sixty (60) days due to a Force Majeure Event. A “Force Majeure Event” shall mean fire, earthquake, weather delays or other acts of God, strikes, boycotts, war, riot, insurrection, embargoes, shortages of equipment, labor or materials, delays in issuance of governmental permits or approvals, or any other cause beyond the reasonable control of Landlord. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Work Letter Agreement (Universal Electronics Inc)

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined in Section 22 below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material “Material” (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)Materially Damaged, Landlord shall have the right, in its sole and complete but reasonable discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall use commercially reasonable efforts within one hundred twenty sixty (12060) days but in no event later than ninety (90) days after the discovery of such material damage Material Damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage Material Damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three two hundred sixty seventy (360270) days after the date of the discovery of the material damage Material Damage or destruction, without payment of overtime or other premiums, and the damage Damage to the Project will render the entire Premises unusable during said three two hundred sixty seventy (360270) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage Damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage Damage to the Premises or the Project during such three two hundred sixty seventy (360270) day period due to Force Majeure Events, the three two hundred sixty seventy (360270) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases, Real Property Tax increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Lease (Regenerx Biopharmaceuticals Inc)

Effect of Damage or Destruction. If all or part of the Project Premises is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances Materials (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "DamagesDAMAGES"), but the Damages damages are not material (as defined in Section 9.2 section 13.2 below), Landlord shall repair the Damages damages to the Project Premises as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project Premises is destroyed or materially damaged (as defined in Section 9.2 section 13.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project Premises or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project Premises after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three two hundred sixty ten (360210) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project Premises will render the entire Premises unusable during said three two hundred sixty ten (360210) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.'s

Appears in 1 contract

Samples: Wastewater Treatment (Jabil Circuit Inc)

Effect of Damage or Destruction. If all or part of the Project is materially damaged (as defined in Section 10.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release riot or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project or to terminate this Lease. Landlord shall use commercially reasonable efforts to, within one hundred twenty sixty (12060) days but in no event later than ninety (90) days after the discovery occurrence of such material damage or destruction damage, notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. If Landlord elects to terminate, Landlord shall provide Tenant at least ninety (90) days’ prior notice of the date of termination. In all other events of damage or casualty to the Project, Landlord shall repair and restore such damage to the Premises and/or the Project, as the case may be, substantially to their condition existing prior to the damage. With respect to restoration of the Premises, subject to the other provisions of this Lease, Landlord shall restore the Premises using Building standard tenant improvements commensurate to those existing on the Commencement Date. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionProject, but in good faith determines that the Premises Project cannot be substantially rebuilt or repaired within three two hundred sixty seventy (360270) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render has rendered the entire Premises unusable during said three hundred sixty (360) day periodunusable, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen thirty (1530) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent Tenant's negligence or intentional acts of Tenant or its employees, agents, contractors or inviteeswillful misconduct. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Eventsbeyond Landlord's reasonable control; provided further, however, in the event Landlord pursues reconstruction or restoration of the Project and such reconstruction and restoration is not substantially complete due to delays within Landlord’s control within two hundred seventy (270) days after the date of the occurrence of the damage, then Tenant shall have a further right to terminate this Lease upon written notice to Landlord, so long as Tenant’s written notice is delivered to Landlord prior to Landlord’s delivery of the Premises substantially completed to Tenant. If Landlord is unable to repair the damage to the Premises or the Project during such three two hundred sixty seventy (360270) day period due to a Force Majeure EventsEvent, the three two hundred sixty seventy (360270) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of terminationEvent.

Appears in 1 contract

Samples: Emisphere Technologies Inc

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances Materials (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "DamagesDAMAGES"), but the Damages damages are not material (as defined in Section 9.2 14.2 below), Landlord shall repair the Damages damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part a substantial portion of the Project is destroyed or materially damaged (as defined in Section 9.2 below)damaged, Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructiondamage, but in good faith determines that the Premises cannot be substantially repaired within three two hundred sixty seventy (360270) days after the date of the discovery of the material damage (or destruction, without within ninety (90) days if the damage occurs during the last eighteen (18) months of the Term of the Lease as the same may be extended),without payment of overtime or other premiums, and the damage to the Project will render all or a material portion of the entire Premises unusable during said three two hundred sixty seventy (360270) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate the term of this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors agents or inviteescontractors. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter promptly pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events, as hereinafter defined. If Landlord is unable to repair the damage to the Premises or the Project during such three two hundred sixty seventy (360270) day period due to Force Majeure Events, the three two hundred sixty seventy (360270) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Standard Industrial Lease (G Iii Apparel Group LTD /De/)

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Effect of Damage or Destruction. If all or part of the Project is materially damaged (as defined in Section 9.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release riot or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project or to terminate this LeaseLease provided that Landlord may terminate this Lease only if it terminates all of the leases in the Building. Landlord shall within one hundred twenty ninety (12090) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionProject, but in good faith determines that the Premises Project cannot be substantially rebuilt or repaired within three two hundred sixty seventy (360270) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render has rendered the entire Premises unusable during said three hundred sixty (360) day periodin the ordinary course, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent Tenant's negligence or intentional acts of Tenant or its employees, agents, contractors or inviteeswillful misconduct. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Eventsbeyond Landlord's reasonable control. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.SEE ADDENDUM PARAGRAPH 10

Appears in 1 contract

Samples: License Agreement for Satellite (Jaymark Inc)

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"“damages”), but the Damages damages are not material (as defined in Section section 9.2 below), Landlord shall repair the Damages damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three two hundred sixty forty (360240) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render so much of the entire Premises unusable that Tenant will be unable to use the Premises during said three two hundred sixty forty (360240) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord, and the termination shall be effective as of the last date that Tenant used the Premises. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three two hundred sixty forty (360240) day period due to Force Majeure Events, the three two hundred sixty forty (360240) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Work Letter Agreement (Ign Entertainment Inc)

Effect of Damage or Destruction. If all or part of the Project Premises is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances Materials (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"“damages”), but the Damages damages are not material (as defined in Section 9.2 section 13.2 below), Landlord shall repair the Damages damages to the Project Premises as soon as is reasonably possible, and this Lease shall remain in full force and effect. If the Premises are destroyed or all or part of the Project Premises is destroyed or materially damaged (as defined in Section 9.2 section 13.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project Premises or to terminate this Lease. Landlord shall within one hundred twenty sixty (12060) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project Premises after material damage or destruction, but in good faith determines that a the Premises cannot be substantially repaired within three two hundred sixty seventy (360270) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project Premises will render a substantial portion of the entire Premises unusable during said three two hundred sixty seventy (360270) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repairrepair (along with an estimated completion date), and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent gross negligence or intentional acts willful misconduct of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. Tenant shall also have the right to terminate this Lease in the event that, notwithstanding Landlord’s good faith estimate that the Premises can be substantially repaired within two hundred seventy (270) days after the date of damage or destruction, the Premises are not in fact substantially repaired within such two hundred seventy (270) day period (as extended by Force Majeure Events). Tenant shall provide Landlord with written notice of its election to terminate this Lease because the repairs are not completed in two hundred seventy (270) days within fifteen (15) days after the two hundred seventieth (270th) day. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three two hundred sixty seventy (360270) day period due to Force Majeure Events, the three two hundred sixty seventy (360270) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 section 13.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1section 13.1, Tenant shall continue to pay all Base Rent, Operating Expense increases Rent and other amounts due hereunder which arise prior to the date of termination. Tenant shall also have the right to terminate this Lease if damage occurs to the Premises during the last twelve (12) months of the Lease term, such damage renders a substantial portion of the Premises unusable, and such damage cannot be substantially repaired within sixty (60) days. Tenant’s termination right described in the previous sentence shall be exercised by providing Landlord with written notice within fifteen (15) days after the occurrence of the damage.

Appears in 1 contract

Samples: Source Photonics Inc

Effect of Damage or Destruction. If all or part of the Project is materially damaged (as defined in Section 10.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release riot or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionProject, but in good faith determines that the Premises Project cannot be substantially rebuilt or repaired within three two hundred sixty seventy (360270) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render has rendered the entire Premises unusable during said three hundred sixty (360) day periodunusable, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence this Section 10.1 shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or inviteesTenant's willful misconduct. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by LandlordLandlord (provided the Premises have been substantially completed and Landlord has obtained a temporary certificate of occupancy ("TCO"), provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Eventsbeyond Landlord's reasonable control; provided further, however, in the event Landlord pursues reconstruction or restoration of the Project and such reconstruction and restoration is not substantially complete due to delays within Landlord's control within two hundred seventy (270) days after the date of the occurrence of the damage, then Tenant shall have a further right to terminate this Lease upon written notice to Landlord, so long as Tenant's written notice is delivered to Landlord prior to Landlord's delivery of the Premises substantially completed to Tenant together with delivery of a TCO. If Landlord is unable to repair the damage to the Premises or the Project during such three two hundred sixty seventy (360270) day period due to a Force Majeure EventsEvent, the three two hundred sixty seventy (360270) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject Event, not to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to exceed forty-five (45) days following the date expiration of terminationsuch two hundred seventy (270) day period.

Appears in 1 contract

Samples: Pdi Inc

Effect of Damage or Destruction. If all or part of the Project Premises is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damagesdamages"), but the Damages damages are not material (as defined in Section 9.2 section 13.2 below), Landlord shall repair the Damages damages to the Project Premises as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project Premises is destroyed or materially damaged (as defined in Section 9.2 section 13.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project Premises or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project Premises after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty (360) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project Premises will render the entire Premises unusable during said three hundred sixty (360) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen thirty (1530) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen thirty (1530) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 section 13.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1section 13.1, Tenant shall continue to pay all Base Rent, Operating Expense increases Rent and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Homegrocer Com Inc

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damagesdamages"), but the Damages damages are not material (as defined in Section section 9.2 below), Landlord shall repair the Damages damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty (120) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three two hundred sixty forty (360240) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render the entire Premises unusable during said three two hundred sixty forty (360240) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) business days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) business day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Noosh Inc

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty (120) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three hundred sixty (360) days after the date of the discovery of the material damage or destruction, without payment of overtime or other premiums, and the damage to the Project will render the entire Premises unusable during said three hundred sixty (360) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Office Lease (ProNAi Therapeutics Inc)

Effect of Damage or Destruction. If all or part of the Project Building is materially damaged (as defined in Article 18.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release riot or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project Building or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionBuilding, but in good faith determines that the Premises Building cannot be substantially rebuilt or repaired within three two hundred sixty seventy (360270) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render Building has rendered the entire Premises unusable during said three hundred sixty (360) day periodunusable, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent Tenant's negligence or intentional acts of Tenant or its employees, agents, contractors or inviteeswillful misconduct. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused beyond Landlord's reasonable control. In the event of any termination hereunder, Tenant's Yearly Rent and Tenant's Proportionate Share of Operating Costs and Taxes, and other charges payable by Force Majeure Events. If Landlord is unable to repair the damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases and other amounts due hereunder which arise prior to terminate as of the date time of terminationthe damage.

Appears in 1 contract

Samples: Lease by And (Cambex Corp)

Effect of Damage or Destruction. If all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined in Section 22 below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material "Material" (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)Materially Damaged, Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall use commercially reasonable efforts within one hundred twenty sixty (12060) days but in no event later than ninety (90) days after the discovery of such material damage Material Damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage Material Damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within three two hundred sixty seventy (360270) days after the date of the discovery of the material damage Material Damage or destruction, without payment of overtime or other premiums, and the damage Damage to the Project will render the entire Premises unusable during said three two hundred sixty seventy (360270) day period, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord, provided further, however, in the event Landlord pursues reconstruction or restoration of the Project and such reconstruction and restoration is not substantially complete due to delays within Landlord’s control, within two hundred two hundred seventy (270) days after the date of the occurrence of the Damage, then Tenant shall have a further right to terminate this Lease upon written notice to Landlord, so long as Tenant’s written notice is delivered to Landlord prior to Landlord’s delivery of the Premises substantially completed to Tenant. Tenant's termination right described in the preceding sentence shall not apply if the damage Damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events, as hereinafter defined. If Landlord is unable to repair the damage Damage to the Premises or the Project during such three two hundred sixty seventy (360270) day period due to Force Majeure Events, the three two hundred sixty seventy (360270) day period shall be extended by the period of delay caused by the Force Majeure EventsEvents but no more than sixty (60) additional days at which time Tenant may elect to terminate this Lease. Subject to Section 9.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.1, Tenant shall continue to pay all Base Rent, Operating Expense increases, Real Property Tax increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Lease (Rexahn Pharmaceuticals, Inc.)

Effect of Damage or Destruction. If all or part of the Project is materially damaged (as defined in Section 10.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release riot or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty (120) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionProject, but in good faith determines that the Premises Project cannot be substantially rebuilt or repaired within three hundred sixty (360) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render has rendered the entire Premises unusable during said three hundred sixty (360) day periodunusable, Landlord shall notify Tenant thereof in writing at the time of Landlord's election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's termination right described in the preceding sentence shall not apply if the damage was caused by the negligent Tenant's negligence or intentional acts of Tenant or its employees, agents, contractors or inviteeswillful misconduct. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events, as hereinafter defined. If Landlord is unable to repair the damage Damage to the Premises or the Project during such three hundred sixty (360) day period due to Force Majeure Events, the three hundred sixty (360) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 10.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.110.1, Tenant shall continue to pay all Base Rent, Rent and Operating Expense increases and other amounts due hereunder which arise prior to the date of termination. For purposes of this Lease, a Force Majeure Event shall mean fire, earthquake, weather delays or other acts of God, strikes, boycotts, war, riot, insurrection, embargoes, shortages of equipment, labor or materials, delays in issuance of governmental permits or approvals, or any other cause beyond the reasonable control of Landlord.

Appears in 1 contract

Samples: Landlord and Tenant Acknowledge That They Have Carefully Read and Reviewed This Lease and Each Term and Provision Contained Herein And (Echo Therapeutics, Inc.)

Effect of Damage or Destruction. If all or part of the Project is materially damaged (as defined in Section 10.2 below) by fire, earthquake, flood, explosion, the elements, riot, the release riot or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as "Damages"), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or part of the Project is destroyed or materially damaged (as defined in Section 9.2 below)casualty, Landlord shall have the right, right in its sole and complete discretion, discretion to repair or to rebuild the Project or to terminate this Lease. Landlord shall within one hundred twenty ninety (12090) days after the discovery occurrence of such material damage or destruction notify Tenant in writing of Landlord's ’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord's ’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the Project after material damage or destructionProject, but in good faith determines that the Premises Project cannot be substantially rebuilt or repaired within three two hundred sixty seventy (360270) days after the date of the discovery occurrence of the material damage or destructiondamage, without payment of overtime or other premiums, and the damage to the Project will render has rendered the entire Premises unusable during said three hundred sixty (360) day periodunusable, Landlord shall notify Tenant thereof in writing at the time of Landlord's ’s election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days' advance written notice to Landlord. Tenant's ’s termination right described in the preceding sentence shall not apply if the damage was caused by the negligent Tenant’s negligence or intentional acts of Tenant or its employees, agents, contractors or inviteeswillful misconduct. Failure of Tenant to exercise said election within said fifteen (15) day period shall constitute Tenant's ’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to delays caused by Force Majeure Events. If Landlord is unable to repair the damage Damage to the Premises or the Project during such three two hundred sixty seventy (360270) day period due to Force Majeure Events, the three two hundred sixty seventy (360270) day period shall be extended by the period of delay caused by the Force Majeure Events. Subject to Section 9.3 10.3 below, if Landlord or Tenant terminates this Lease in accordance with this Section 9.110.1, Tenant shall continue to pay all Base Rent, Rent and Operating Expense increases and other amounts due hereunder which arise prior to the date of termination.

Appears in 1 contract

Samples: Wilshire Enterprises Inc

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