Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglary.
Appears in 7 contracts
Samples: Operations Lease Agreement (Venu Holding Corp), Lease Agreement (Notes Live, Inc.), Sublease Agreement (Notes Live, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Premises untenantableLandlord. If the premises shall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be premises are so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or premises are so extensively and substantially damaged as that the Landlord decides not to require practically a rebuilding thereofrebuild, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from paid up to the date time of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate such destruction and thenceforth this Lease by written notice shall come to Landlordan end. In no event howeverHowever, shall the provisions of this clause shall not become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord’s costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
Appears in 4 contracts
Samples: Lease Agreement, Lease Agreement, Lease Agreement
Fire and Other Casualty. Tenant shall immediately notify Landlord of In the event that at any time during the term hereof (including any extended term) the Leased Premises are totally damaged or destroyed by fire or other casualty at the Premises. If the Premises is or substantially damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as to render it them or a material portion thereof untenantable, then the rent shall cease until such time as the Premises there shall be made tenantable by the Landlord. However, if, in the opinion a just and proportionate abatement of the LandlordRent payable hereunder until the Leased Premises are made suitable for Tenant’s occupancy, and the Lease Term shall be extended, without the necessity of further action by any party, for a period equal to the time during which Rent so abated. In the event of such substantial (or total) damage to the Leased Premises, Landlord shall proceed at its expense and with reasonable diligence to repair and restore the Leased Premises to substantially the same condition they were in immediately prior to such casualty. Notwithstanding the foregoing, if Landlord in its sole discretion determines that timely restoration is not possible or practical or that there are or will be totally destroyed or so extensively and substantially damaged as insufficient insurance proceeds available to require practically a rebuilding thereofLandlord to accomplish same, then Landlord shall either: (a) notify Tenant that have the Lease is terminated; or (b) notify Tenant that Landlord intends right to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice given to LandlordTenant within ninety (90) days after the occurrence of such casualty. In no event however, shall If Landlord proceeds with the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct repair and restoration of the Leased Premises, in the event the Leased Premises have not been restored to a condition substantially suitable for their intended purpose within one hundred eighty (180) days following said casualty, then either Landlord or Tenant shall have the right to terminate this Lease by giving notice thereof to the other party within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice unless within such thirty-day period Landlord substantially completes such restoration. Such right of termination shall be Tenant’s agentssole and exclusive remedy at law or in equity for Landlord’s failure so to complete such restoration, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment and time shall be of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglaryessence with respect thereto.
Appears in 4 contracts
Samples: Lease Agreement (Valeritas Inc), Lease Agreement (Valeritas Inc), Lease Agreement (Valeritas Holdings Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at A. In the Premises. If event that (i) the Premises is damaged are made substantially untenantable by fire or other casualty, but including damage or casualties of war, and Landlord shall decide not to restore or repair the same, or (ii) the Building is so as damaged by fire or other casualty that Landlord shall decide to render demolish or not rebuild the same, then, in either of such events, either Landlord or Tenant shall have the right to terminate this Lease by notice to the other within ninety (90) days after the date of such fire or other casualty.
B. If the Premises untenantableor the Building are made untenantable by fire or other casualty, and this Lease is not terminated pursuant to Section 9A above, Landlord shall, to the extent permitted by any mortgages or Ground Leases with respect to the Premises and the Project, immediately take such action as is necessary to make applicable insurance proceeds available and to use the same to reconstruct, repair and restore the Building and the Premises, subject to zoning laws and building codes then in effect, and including only Building Standard Tenant Improvements (as provided in Exhibit A of Appendix D) or, if any portion of the Premises has been leased on an "as is" basis, including only improvements similar to those located in such portion of the Premises on the Commencement Date or the date on which such portion was added to the Premises, if later than the Commencement Date (herein, the improvements Landlord is required to make are called the "Required Improvements"), and at Landlord's option Tenant may be permitted or required to devote the proceeds of its insurance described in Section 8C(2)(a) to cause restoration of tenant improvements over and above the Required Improvements, and pay for the same to Landlord or through Landlord as if newly done pursuant to Section 5 of this Lease. In the event a fire or other casualty occurs and both Landlord and Tenant are insured, it is agreed that the coverage of the Landlord shall repair be primary and that Landlord's recovery in no event shall be reduced by any insurance recovery to Tenant.
C. Notwithstanding anything in this Section 9 to the same as speedily as practicablecontrary, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion if all or any portion of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable untenantable by the Landlord. Howevera fire or other casualty, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, with reasonable promptness and in which case, rent shall be abated from the date of no event later than 30 days following the fire or other casualty until issuance cause a registered architect selected by Landlord and licensed to do business in Wisconsin to estimate the amount of a certificate time required to substantially complete repair and substantially complete restoration of occupancy for the Premises and make the Premises tenantable again, using standard working methods. If the estimate indicates that the Premises cannot be made tenantable within six (6) months from the date the repair and restoration is started, either party shall have the right to terminate this Lease by giving to the other notice of such election within ten (10) days after its receipt of the architect's certificate. If the estimate of the registered architect indicates that the Premises can be made tenantable within six (6) months from the date the repair and restoration is started, or if neither party terminates this Lease pursuant to this Section 9C, Landlord shall proceed with reasonable promptness to repair and restore the Premises, during provided that if the estimate of the registered architect indicates that the Premises can be made tenantable within six (6) months from the date repair and restoration is started, and if Landlord does not repair and restore the Premises within said six (6) month period, which time six (6) month period shall be extended to the extent of any Reconstruction Delays, then Tenant may terminate this Lease by upon fifteen (15) days prior written notice to Landlord. In no event however, shall the provisions For purposes of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such caseLease, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed term "Reconstruction Delays" shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered mean: (i) any delays caused by the insurance adjustment process, (ii) any delays caused by Tenant, and (iii) any delays caused by events beyond Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglary's reasonable control.
Appears in 2 contracts
Samples: Lease (Metavante Corp), Lease (Metavante Corp)
Fire and Other Casualty. Tenant (a) If the premises shall immediately notify Landlord be damaged by fire, action of any fire the elements or other casualty or cause which is within the risks covered by insurance required to be carried by the Landlord hereunder, the Tenant shall give immediate notice thereof to the Landlord, and said damage shall be repaired by the Landlord, at the Premises. If Landlord's expense, with all reasonable speed, making due allowance for delay due to labor troubles, settlement of loss and other causes beyond the Premises is damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion control of the Landlord, and the Premises be so extensively Tenant shall, in every reasonable way, facilitate the making of such repairs, and substantially damaged as to render it untenantable, then the rent shall cease until be suspended during such time period as the Premises premises shall be made tenantable have been rendered wholly untenantable until five (5) days after the Landlord notifies the Tenant that the premises are substantially ready for the Tenant's occupancy (or the premises are sooner occupied by the Landlord. However, ifTenant) and, in the opinion event that the premises are rendered partially untenantable (but the Tenant is able to operate in substantially its normal manner in the remaining tenantable portion of the Landlordpremises), the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from during such period, in the proportion which the area of the premises which is rendered untenantable bears to the area of the whole premises. The Landlord shall use good faith efforts to give the Tenant at least thirty (30) days' notice of the anticipated date of substantial completion, and shall allow the fire Tenant to commence its restoration work in the premises during such time so long as the performance of such work by the Tenant does not interfere with or delay the performance of the Landlord's work. No damage to the premises or the building by fire, or other casualty until issuance of a certificate of occupancy for the Premisescause, during which time Tenant may however extensive, shall terminate this Lease by written notice lease, or give the Tenant the right to Landlord. In no event howeverquit and surrender the premises, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct impair any obligations of the Tenant or the Tenant’s agentshereunder, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for except with respect to the payment of rent (and with respect thereto to the rent extent above provided) and except that (i) if the damage shall be so extensive that the Landlord shall determine to demolish or substantially alter the building, whether or not the premises are affected, the Landlord may at any time within one hundred twenty (120) days following the occurrence of the damage give to the Tenant thirty (30) days' notice of intention to terminate this lease; (ii) if the damage to the premises is substantial so that the whole or substantially the whole of the premises is rendered untenantable or inaccessible by the Tenant or if 50% or more of the common areas of the building are destroyed or substantially damaged and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglary.does
Appears in 2 contracts
Samples: Lease Agreement (Starmedia Network Inc), Lease Agreement (Starmedia Network Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. IfIt, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: either (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglary.
Appears in 2 contracts
Samples: Lease Agreement (Notes Live, Inc.), Lease Agreement (Fresh Vine Wine, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at affecting the Demised Premises, Tenant shall give immediate notice to Landlord or, in case of fire or other casualty affecting the Property other than the Demised Premises, Tenant shall give immediate notice to Landlord upon Tenant obtaining knowledge of such fire or casualty. If the Demised Premises is shall be partially damaged by fire fire, the elements or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent Rent hereunder shall not cease. If, in the opinion of the Landlord, the Demised Premises be is so extensively extensively and substantially damaged as to render it them untenantable, then the rent Rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Demised Premises be is totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent Rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written shall automatically and without notice come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent Rent and the performance of all the covenantscovenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to Landlord to the Premises by vandalism or burglaryextent of Landlord’s costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against Landlord for reimbursement.
Appears in 2 contracts
Samples: Lease Agreement (Insmed Inc), Lease Agreement (Tamir Biotechnology, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. (a) If the Premises or any portion thereof is damaged by fire or any other casualtycasualty and is unable to be occupied by Tenant, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion a proportionate part of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from and suspended until the Premises can again be fully occupied and has been restored to their former condition by Landlord, and this Lease shall remain in full force and effect. In the alternative, Landlord may, at its sole discretion, but not later than sixty (60) days following the damage, give Tenant notice of Landlord's election to terminate this Lease. If the Landlord does not terminate the Lease as aforesaid, Landlord shall commence restoration or repair of the Premises within ninety (90) days after the date of the fire damage and shall complete restoration or other casualty until issuance repair in a diligent manner, but in no event more than one hundred fifty (150) days after the date of the damage, unless Tenant has agreed, in writing, to a certificate longer period of occupancy for time. In the Premisesevent that Landlord fails to repair or restore the Premises in the manner set forth herein or otherwise fails to pursue such restoration or repairs in a diligent manner, during which time the Tenant may terminate this Lease by written notice thirty (30) days after Tenant notifies Landlord in writing of such default and Landlord fails to Landlord. In no event however, shall the provisions make or complete said repairs or restoration within said thirty (30) day period.
(b) Termination of this clause become effective or be applicableLease in accordance with the foregoing provisions shall not prejudice the rights and remedies of Landlord and Tenant under this agreement prior to such termination, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the and any rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant owing shall be liable paid up to the Landlord for the damage such date and loss suffered any payments of rent made by the Landlord. Tenant which were on account of any period subsequent to such date shall repair all damages caused be returned to the Premises by vandalism or burglaryTenant.
Appears in 2 contracts
Samples: Lease Agreement (Vermont Teddy Bear Co Inc), Lease Agreement (Vermont Teddy Bear Co Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises is shall be damaged by fire or other casualty, but other than as a result of the gross negligence or willful misconduct of Tenant, this Lease shall not so as to render the Premises untenantableterminate and, the upon adjustment of insurance claims, Landlord shall repair the same as speedily as practicabledamage, but the provided that Landlord shall have no obligation to repair damage to or replace Tenant’s obligation to pay the rent hereunder shall not ceasePersonal Property. IfExcept as otherwise provided herein, in the opinion if any part of the LandlordPremises are rendered untenantable by reason of any such damage, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent Rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated xxxxx from the date of the damage to the date the damage is repaired, as determined by Landlord, in the proportion that the area of the untenantable part bears from time to time to the total area of the Premises. No compensation or reduction of Rent shall be paid or allowed for inconvenience, annoyance or injury to Tenant or Tenant’s business arising from any damage to or repair of the Premises or the Building. Notwithstanding anything herein to the contrary, if (i) (1) insurance proceeds are insufficient to pay the full cost of such repair and restoration, (2) the holder of any Mortgage fails or refuses to make insurance proceeds available for such repair and restoration, (3) zoning or other applicable Laws do not permit such repair and restoration, or (4) the Building is damaged by fire or other casualty until issuance (whether or not the Premises has been damaged) to such an extent that Landlord decides, in its sole and absolute discretion, not to rebuild or reconstruct the Building, then Landlord, at its option, may give Tenant, within sixty (60) days after the casualty, written notice of a certificate termination of occupancy for this Lease, and this Lease and the PremisesTerm shall terminate (whether or not the Term has commenced) upon the expiration of thirty (30) days from the date of the notice, during which time with the same effect as if the new expiration date had been the Lease Expiration Date, and all Base Rent and Additional Rent payable pursuant to Section 5 of this Lease shall be apportioned as of such date and (ii) if Landlord estimates to Tenant in writing that the restoration of the Premises and the Building cannot be completed by the two hundred seventieth (270th) day following the date of the casualty, then either Landlord or Tenant may terminate this Lease by written notice to Landlord. In no event howeverthe other of them, which notice shall the provisions of this clause become effective or be applicablegiven by Tenant, if at all, within ten (10) business days following the date of such written estimate. If the restoration of the Premises and the Building has not been completed by the two hundred seventieth (270th) day following the date of the casualty, either Landlord or Tenant may terminate this Lease by written notice to the other of them, which notice shall be given by Tenant, if at all, within ten (10) business days following such 270th day. If the Premises or the Building shall be damaged by fire or other casualty results from due to the carelessness, gross negligence or improper conduct willful misconduct of Tenant: (i) Landlord shall have no obligation to repair the Tenant Premises or the TenantBuilding, (ii) this Lease shall, at Landlord’s agentsoption, employeesnot terminate, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions (iii) Landlord may pursue any legal and terms hereof on the Tenant’s part equitable remedies available to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglaryit.
Appears in 2 contracts
Samples: Lease Agreement (Evolent Health, Inc.), Lease Agreement (Evolent Health, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at In the Premises. If event the Demised Premises is are damaged by fire or other casualty, Landlord agrees to promptly restore and repair the Demised Premises at Landlord's expense, including the Improvements to be insured by Tenant but not so as only to render the Premises untenantableextent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements (provided that Landlord shall repair be responsible for any deductible under Landlord's insurance policies). Notwithstanding the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. Ifforegoing, in the event that the Demised Premises are (i) in the reasonable opinion of the Landlord, so destroyed that they cannot be repaired or rebuilt within ninety (90) days after the Premises be so extensively and substantially damaged as date of such damage; or (ii) destroyed by a casualty which is covered by Landlord's insurance but Lender or other party entitled to render it untenantable, then the rent shall cease until insurance proceeds fails to make such time as the Premises shall be made tenantable by the Landlord. However, if, proceeds available to Landlord in the opinion an amount sufficient for restoration of the Landlord, the Demised Premises be totally destroyed or so extensively and substantially damaged as reasonably acceptable to require practically a rebuilding thereofTenant, then Landlord shall either: give written notice to Tenant of such determination (athe "Determination Notice") notify within sixty (60) days of such casualty. Either Landlord or Tenant that the may terminate and cancel this Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from effective as of the date of the fire or other such casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by giving written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct party within thirty (30) days after Tenant's receipt of the Tenant or Determination Notice. Upon the Tenant’s agentsgiving of such termination notice, employeesall obligations hereunder with respect to periods from and after the effective date of termination shall thereupon cease and terminate. If no such termination notice is given, guestsLandlord shall, contractors, licensees, invitees, subtenants, assignees or successors. In such case, to the Tenant’s liability for the payment extent of the rent and available insurance proceeds, make such repair or restoration of the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable Demised Premises to the Landlord for approximate condition existing prior to such casualty, promptly and in such manner as not to unreasonably interfere with Tenant's use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent shall proportionately abatx xxxing the time that the Demised Premises or any part thereof are unusable by reason of any such damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglarythereto.
Appears in 2 contracts
Samples: Industrial Lease Agreement (Pfsweb Inc), Industrial Lease Agreement (Daisytek International Corporation /De/)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Premises untenantableLandlord. If the premises shall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises premises be so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written notice lease shall come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
Appears in 2 contracts
Samples: Lease Agreement (Clearview Cinema Group Inc), Lease Agreement (Community Distributors Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises there is damaged by a fire or other casualty, but not so as the Tenant will give immediate notice to render the Landlord. If the Premises untenantableare partially damaged by fire, the elements, or other casualty, the Landlord shall will repair the same as speedily as practicable, but and the Tenant’s obligation to pay the rent hereunder shall will cease prorate based on the portion not cease. Ifusable by the Tenant, If in the opinion of the Landlord, the Premises be are so extensively and substantially damaged as to render it them untenantable, then the rent shall will cease until such time as the Premises shall be are made tenantable by the Landlord. HoweverIf, ifhowever, in the reasonable opinion of the Landlord, the Premises be totally destroyed or are so extensively and substantially damaged as that it will require more than 60 days to require practically a rebuilding thereofmake the Premises tenantable or the Landlord decides not to rebuild, then Landlord shall either: (a) notify either the landlord or the Tenant that may terminate the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from as of the date of destruction and the fire or other casualty until issuance rent will be paid up to the time of a certificate such destruction. The rent, and any additional rent, will be apportioned us of occupancy the termination date, and any rent paid for any period beyond that date will be repaid to the PremisesTenant. However, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the preceding provisions of this clause Paragraph 15 will not become effective or be applicable, applicable if the fire or other casualty results from and damage are the carelessness, result of the gross negligence or improper conduct willful misconduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall will continue and the Tenant shall will be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused is insured against any of the risks herein covered, then the proceeds of such insurance will be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord’s costs and expenses to make the repairs hereunder, and such insurance carriers will have no recourse against the Landlord for reimbursement.
Appears in 2 contracts
Samples: Lease Agreement (Zynerba Pharmeceuticals, Inc.), Lease Agreement (Zynerba Pharmeceuticals, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord (a) In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so the Tenant shall give immediate notice to the Landlord. If the premises shall be partially damaged by fire, the elements or other casualty, and the cost to repair said damages is $25,000 or less, then Tenant shall be responsible for making repairs directly. Except as provided in the next sentence, if the cost to render the Premises untenantablerepair such partial damage is more than $25,000, then the Landlord shall repair the same as speedily as practicable, but in neither case shall the Tenant’s obligation to pay the rent hereunder shall not cease. If, in If Landlord and Tenant agree that the opinion of the Landlord, the Premises be premises are so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises premises shall be made tenantable by the Landlord. However, if, in if the opinion of the Landlord, the Premises premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends building cannot be restored to rebuild the Premises, in which case, rent shall be abated tenantable condition within 180 days from the date of damage, or if Landlord has not restored the fire or other casualty until issuance building to tenantable condition within such 180-day period, then either party may cancel this lease; then the rent shall be paid up to the time of such destruction and then and from thenceforth this lease shall come to an end. If the Tenant shall have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Landlord to the extent of the Landlord’s costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement. Any disputes regarding these repair and restoration provisions will be settled by arbitration, in accordance with Article 38.
(b) In the event of loss, the proceeds of the policies shall be dealt with as follows:
i) In the event that there shall be a certificate of occupancy for first mortgage on the Premisespremises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event howeverthe loss, if any, shall be adjusted with the provisions insurance companies and all insurance proceeds recovered by the mortgagee on account of this clause become effective damage or be applicabledestruction to the premises (and all proceeds of any condemnation award recovered by the mortgagee for any building or equipment taken or damaged), less the cost, if any, to the fire or other casualty results from mortgagee of such recovery, shall, based upon the carelessness, negligence or improper conduct written instruction of the Tenant or Landlord, be applied by the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for mortgagee to the payment of the rent cost of repairing, restoring or rebuilding the property so damaged or destroyed (or taken), hereinafter referred to as the “work,” and shall be paid out in accordance with paragraph (iii) below. The restored building will be of like character and quality and of value at least equal to the performance original building existing prior to the occurrence of all the covenantsdestruction. Landlord represents and covenants that any existing mortgages or future mortgages have or will have an express provision allowing, conditions at the option of the Landlord, the use of insurance proceeds for rebuilding and terms hereof restoration of the demised premises.
ii) In the event that there shall not be a mortgage on the premises, the loss, if any, under any policies provided for in Article 5 shall be adjusted with the insurance companies:
A) By Tenant in case of any particular casualty resulting in damage or destruction not exceeding Twenty-Five Thousand Dollars ($25,000.00) in the aggregate; or
B) By Landlord and Tenant’s part , in the case of any such particular casualty resulting in damage or destruction exceeding Twenty-Five Thousand Dollars ($25,000.00) in the aggregate.
iii) Subject to the rights of the holder of any mortgage to which this lease is or shall be performed subject and subordinate, the proceeds of any such insurance, as so adjusted, shall continue be payable as follows:
A) With respect to any loss not exceeding Twenty-Five Thousand Dollars ($25,000.00) in the aggregate, such loss shall be paid to Tenant, who shall hold the proceeds in trust for the purpose of paying the costs of repair and restoration; and
B) With respect to losses exceeding Twenty-Five Thousand Dollars ($25,000.00) in the aggregate, the loss shall be paid to Landlord or, if Tenant shall be liable so request, to the Landlord for the damage a commercial bank or trust company selected by Tenant having a banking office in New Jersey, having a capital of not less than One hundred Million Dollars ($100,000,000.00), and loss suffered supervised by the LandlordComptroller of Currency of the United States or the Banking Department of the State of New Jersey (such bank or trust company being hereinafter called the “Insurance Trustee”). Tenant All insurance proceeds, less any cost of recovery, shall be held by the recipient (whether Landlord or the Insurance Trustee, as the case may be) and shall be applied by such recipient to pay the costs of repair all damages caused to the Premises by vandalism or burglaryand restoration.
Appears in 2 contracts
Samples: Lease Agreement (Glenrose Instruments Inc.), Lease Agreement (Glenrose Instruments Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises21.01. If the Premises is shall be damaged by fire or other casualty other than as a result of the fault or negligence of Tenant, and such fire or other casualty is insured against by Landlord, and Landlord shall have received from such insurance sufficient proceeds to fully repair all of the damage caused by such fire and other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicabledamage, but the provided that Landlord shall have no obligation to repair damage to or replace Tenant’s obligation to pay Personal Property or any other property located in the rent hereunder Premises, and the Lease shall not ceaseterminate. IfExcept as otherwise provided herein, in if the opinion entire Premises are rendered untenantable by reason of the Landlordany such damage, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as xxxxx for the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated period from the date of the fire or other casualty until issuance damage to the date the damage is repaired as determined by Landlord, and if only a part of a certificate of occupancy the Premises are so rendered untenantable the rent shall xxxxx for the same period in the proportion that the area of the untenantable part bears to the total area of the Premises; provided, during however, that if prior to the date when all the damage has been repaired part of the Premises so damaged are rendered tenantable and shall be or could be used or occupied by or through Tenant, then the amount by which time Tenant may terminate this Lease the rent abates shall be apportioned for the period from the date of such actual or available use or occupancy to the date when all the damage has been repaired as determined by written notice to Landlord. In no event howeverNo compensation or reduction of rent shall be paid or allowed by Landlord for interruption, shall the provisions of this clause become effective inconvenience, annoyance, or be applicable, if the fire or other casualty results injury to Tenant’s business arising from the carelessness, negligence or improper conduct of need to repair the Tenant Premises or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglaryBuilding.
Appears in 2 contracts
Samples: Office Lease Agreement (Global Defense Technology & Systems, Inc.), Office Lease Agreement (Global Defense Technology & Systems, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire (a) If the Building or other casualty at improvements on the Premises. If the Premises is Land shall be damaged or destroyed by fire or other casualty, but Tenant, at Tenant's sole cost and expense, shall promptly and diligently proceed to adjust the loss with the insurance companies (subject to the approval of the Mortgagee (if applicable) and of Landlord, not to be unreasonably withheld, delayed or conditioned) and arrange for the disbursement of insurance proceeds, and repair, rebuild or replace such Building and other improvements, so as to render restore the Demised Premises untenantableto the condition in which they were immediately prior to such damage or destruction. The net proceeds of any insurance recovered by reason of such damage or destruction in excess of the cost of adjusting the insurance claim and collecting the insurance proceeds (such excess being referred to herein as the "Net Insurance Proceeds") shall be held by the Mortgagee (provided that such Mortgagee is a bank, savings association, insurance company or other similar institutional lender; herein called "Institutional Lender"), or, if no Institutional Lender then holds a mortgage lien, or deed of trust on the Demised Premises, by any national or state chartered bank which is reasonably acceptable to Landlord and Tenant; and the Net Insurance Proceeds shall repair be released for the same purpose of paying the fair and reasonable cost of restoring such Building and other improvements. Such Net Insurance Proceeds shall be released to Tenant, or to Tenant's contractors, from time to time as speedily the work progresses, pursuant to such requirements and limitations as practicablemay be reasonably acceptable to Landlord and Mortgagee (if the Mortgagee so requires), but including, without limitation, lien waivers from each of the Tenant’s obligation contractors, subcontractors, materialmen and suppliers performing the work. If the Net Insurance Proceeds (less any applicable deductible) are insufficient to restore the Demised Premises, Tenant shall be obligated to pay such deficiency and the amount of any such deductible. Notwithstanding the foregoing, if the Net Insurance Proceeds are less than Twenty-Five Thousand Dollars ($25,000.00)(which amount will automatically be increased to $250,000.00 whenever the stockholder equity of Tenant equals or exceeds the Minimum Net Worth), and if the Mortgagee agrees in writing, such Net Insurance Proceeds may be held by Tenant and used by Tenant to pay the rent hereunder fair and reasonable cost of restoring such Demised Premises and other improvements. If the Net Insurance Proceeds exceed the full cost of the repair, rebuilding or replacement of the damaged Building or other improvements, if the Mortgagee does not retain such excess proceeds and apply the same on account of the debt owed to it, then the amount of such excess Net Insurance Proceeds shall be paid to Tenant upon the completion of such repair, rebuilding or replacement. Landlord agrees not unreasonably to withhold or delay any approvals required to be obtained by Tenant from Landlord pursuant to the provisions of this Section 21(a).
(b) Whenever Tenant shall be required to carry out any work or repair and restoration pursuant to this Section 21, Tenant, prior to the commencement of such work, shall deliver to Landlord for Landlord's prior approval (which shall not ceasebe unreasonably withheld or delayed) a full set of the plans and specifications therefor, together with a copy of all approvals and permits which shall be required from any governmental authority having jurisdiction. After completion of any major repair or restoration, Tenant shall, as soon as reasonably possible, obtain and deliver to Landlord a Certificate of Substantial Completion from the inspecting architect and a permanent Certificate of Occupancy (or amended Certificate of Occupancy), if required by applicable laws, issued by the appropriate authority with respect to the use of the Demised Premises, as thus repaired and restored. Any such work or repair and restoration, in all cases, shall be carried out by Tenant in a good and workmanlike manner with materials at least equal in quality to the original materials used therefor prior to the damage or destruction. If, in after a default by Tenant, Landlord shall carry out any such work or repair and restoration pursuant to the opinion provisions of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereofthis Section 21, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends be entitled to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy withdraw monies held for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable application to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused costs of such work from time to the Premises by vandalism or burglarytime as such costs are incurred.
Appears in 2 contracts
Samples: Lease Agreement (Petco Animal Supplies Inc), Build to Suit Lease Agreement (Petco Animal Supplies Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at In the Premises. If event the Demised Premises is are damaged by fire or other casualtycasualty insured by Landlord, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but not so as only to render the Premises untenantableextent Landlord receives insurance proceeds therefor, including the Landlord shall repair proceeds from the same as speedily as practicable, but insurance required to be carried by Tenant on the Tenant’s obligation to pay Improvements. Notwithstanding the rent hereunder shall not cease. Ifforegoing, in the event that the Demised Premises are (i) in the reasonable opinion of the Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the Premises be so extensively and substantially damaged as date of such damage; or (ii) destroyed by a casualty which is not covered by Landlord’s insurance, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled to render it untenantable, then the rent shall cease until insurance proceeds fails to make such time as the Premises shall be made tenantable by the Landlord. However, if, proceeds available to Landlord in the opinion an amount sufficient for restoration of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereofDemised Premises, then Landlord shall either: give written notice to Tenant of such determination (athe “Determination Notice”) notify within sixty (60) days of such casualty. Either Landlord or Tenant that the may terminate and cancel this Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from effective as of the date of the fire or other such casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by giving written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct party within thirty (30) days after Tenant’s receipt of the Tenant Determination Notice. Upon the giving of such termination notice, all obligations hereunder with respect to periods from and after the effective date of termination shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, to the extent of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly and in such manner as not to unreasonably interfere with Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment use and occupancy of the rent Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent shall proportionately xxxxx during the performance time that the Demised Premises or any part thereof are unusable by reason of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the any such damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglarythereto.
Appears in 2 contracts
Samples: Industrial Lease Agreement (Dirtt Environmental Solutions LTD), Industrial Lease Agreement (Systemax Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at In the Premises. If event the Demised Premises is are damaged by fire or other casualty, Landlord agrees to promptly restore and repair the Demised Premises at Landlord's expense, including the Improvements to be insured by Tenant but not so as only to render the Premises untenantableextent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements (provided that Landlord shall repair be responsible for any deductible under Landlord's insurance policies). Notwithstanding the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. Ifforegoing, in the event that the Demised Premises are (i) in the reasonable opinion of the Landlord, so destroyed that they cannot be repaired or rebuilt within ninety (90) days after the Premises be so extensively and substantially damaged as date of such damage; or (ii) destroyed by a casualty which is covered by Landlord's insurance but Lender or other party entitled to render it untenantable, then the rent shall cease until insurance proceeds fails to make such time as the Premises shall be made tenantable by the Landlord. However, if, proceeds available to Landlord in the opinion an amount sufficient for restoration of the Landlord, the Demised Premises be totally destroyed or so extensively and substantially damaged as reasonably acceptable to require practically a rebuilding thereofTenant, then Landlord shall either: give written notice to Tenant of such determination (athe "Determination Notice") notify within sixty (60) days of such casualty. Either Landlord or Tenant that the may terminate and cancel this Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from effective as of the date of the fire or other such casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by giving written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct party within thirty (30) days after Tenant's receipt of the Tenant or Determination Notice. Upon the Tenant’s agentsgiving of such termination notice, employeesall obligations hereunder with respect to periods from and after the effective date of termination shall thereupon cease and terminate. If no such termination notice is given, guestsLandlord shall, contractors, licensees, invitees, subtenants, assignees or successors. In such case, to the Tenant’s liability for the payment extent of the rent and available insurance proceeds, make such repair or restoration of the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable Demised Premises to the Landlord for approximate condition existing prior to such casualty, promptly and in such manner as not to unreasonably interfere with Tenant's use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent shall proportionately xxxxx during the time that the Demised Premises or any part thereof are unusable by reason of any such damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglarythereto.
Appears in 2 contracts
Samples: Industrial Lease Agreement (Pfsweb Inc), Industrial Lease Agreement (Daisytek International Corporation /De/)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises there is damaged by a fire or other casualty, but not so as the Tenant will give immediate notice to render the Landlord. If the Premises untenantableare partially damaged by fire, the elements or other casualty, the Landlord shall will repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall will not cease. If, in the opinion of the Landlord, Township Fire Department the Premises be so extensively and substantially damaged as to render it premises are rendered untenantable, then the rent shall rent, property taxes and CAM will cease. However, if the premises are destroyed or damaged such that repairs cannot be completed in 120 days, then the rent, property taxes and CAM will cease until such time as the Premises shall be primises are made tenantable by the Landlord. landlord.. However, if, in the opinion of the Landlord, if the Premises be are totally destroyed or so extensively and substantially damaged as (50% or more and cannot be fully repaired within 120 days) then the rent will be paid up to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends time of such destruction and the lease will come to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlordan end. In no event however, shall will the provisions of this clause the preceding three sentences become effective or be applicable, if the fire or other casualty results from and damage are the result of carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, subtenants assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenantscovenant, conditions and terms hereof on the Tenant’s 's part to be performed shall will continue and the Tenant shall will be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused was insured against any of the risks herein covered, then the proceeds of such insurance will be paid over the Landlord to the Premises by vandalism or burglaryextent of the Landlord’s costs and expenses to make the repairs hereunder and such insurance carriers will have no recourse against the Landlord for reimbursement.
Appears in 2 contracts
Samples: Lease Agreement (Castellum, Inc.), Lease Agreement (Castellum, Inc.)
Fire and Other Casualty. 17.1 Tenant shall, at its own expense, at all times during the term of this Lease, maintain in full force a policy or policies of fire insurance, with extended coverage, on all of Tenant’s fixtures, equipment and inventory situate in the Leased Premises with an insurance company or companies approved by Landlord. Said policy or policies to provide insurance equal to the replacement value of the fixtures and equipment, together with adequate inventory insurance.
17.2 In the event the Leased Premises shall immediately notify Landlord of any be damaged or destroyed by fire or other casualty at so insured against, Tenant agrees that it will claim no interest in any insurance settlement arising out of any such loss where premiums are paid by Landlord, or where Landlord is named as the Premises. If sole beneficiary, and that it will sign any and all documents required by Landlord or the Premises is damaged by insurance company or companies that may be necessary for use in connection with the settlement of any such loss.
17.3 In case of fire or other casualty, but not so as to render each party shall give the other immediate notice. If the Leased Premises untenantableshall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in but be adjusted according to the opinion use that Tenant can make of the Landlord, Leased Premises. If the Leased Premises be so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Leased Premises shall be made tenantable by the Landlord. However, if, if in the opinion reasonable judgment of the Landlord, the Leased Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then, upon notice in writing, within thirty (30) days of the damage, to Tenant of such judgment, the rent shall be paid up to the time of such destruction and then and from thenceforth, this Lease shall come to an end, PROVIDED, HOWEVER, Landlord shall either: be obligated to rebuild the Building provided (i) there will be two years remaining on the Lease term subsequent to the date that the re-building, as reasonably estimated, will be completed, and (ii) there are sufficient insurance proceeds available. If the Leased Premises can not reasonably be restored, within ninety (90) days of the damage, then Tenant shall also have the right to terminate the Lease by notice to Landlord.
17.4 Each party shall be required to provide the other with copies of all insurance policies required of it by this said Lease, together with proof of premium payment within ten (10) days of each said payment’s due date. Each policy procured by one party to this Lease Agreement shall contain a provision that it cannot be canceled for non-payment or other cause absent ten (10) days’ prior written notice to the other party.
17.5 Should either party to this Lease fail to keep in effect and pay for such insurance as required by Paragraphs 16 and 17 of this Lease, the other party may do so, in which event the insurance premiums paid by the other party shall become due and payable promptly by the party who was to have paid for such insurance and failure to so pay on demand shall constitute a default of this Lease. If Landlord defaults, Tenant shall have the right to deduct the amount due from rent thereafter coming due.
17.6 The fire and extended coverage (all risk) insurance referred to in Paragraph 4.3 shall keep Landlord insured against damage and destruction by fire, earthquake, vandalism, and other perils in the amount of the full replacement value of the Building, as the value may exist from time to time. The insurance shall include an extended coverage endorsement of the kind required by an institutional lender to repair and restore the Building.
17.7 Each party waives claims arising in any manner in its (“Injured Party’s”) favor and against the other party for loss or damage to the Injured Party’s property located within or constituting a part or all of the Leased Premises. This waiver applies to the extent the loss or damage is covered by:
(a) notify Tenant that the Lease is terminatedInjured Party’s insurance; or or
(b) notify Tenant that Landlord intends the insurance the Injured Party is required to rebuild the Premisescarry under this Paragraph, in which casewhichever is greater. The waiver also applies to each party’s directors, rent shall be abated from the date of the fire or other casualty until issuance of officers, employees shareholders, and agents. The waiver does not apply to claims caused by a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenantparty’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglarywillful misconduct.
Appears in 1 contract
Samples: Lease Agreement (Ikaria, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Landlord. If the Premises untenantableshall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent Rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be are so extensively and substantially damaged as to render it them untenantable, then the rent Rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or are so extensively and substantially damaged as that the Landlord decides not to require practically a rebuilding thereofrebuild, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent Rent shall be abated from paid up to the date time of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate such destruction and thenceforth this Lease by written notice shall come to Landlordan end. In no event howeverHowever, shall the provisions of this clause shall not become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent Rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord’s costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
Appears in 1 contract
Samples: Lease Agreement (Akorn Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at affecting the PremisesDemised Premises and/or the Property, Tenant shall give immediate notice to Landlord. If the Demised Premises is shall be partially damaged by fire fire, the elements or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent Rent hereunder shall not cease. If, in the opinion of the Landlord, the Demised Premises be so extensively and substantially damaged as to render it then untenantable, then the rent Rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Demised Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent Rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written shall automatically and without notice come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent Rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to Landlord to the Premises by vandalism or burglaryextent of Landlord’s costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against Landlord for reimbursement.
Appears in 1 contract
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at affecting the Demised Premises, Tenant shall give immediate notice to Landlord or, in case of fire or other casualty affecting the Property other than the Demised Premises, Tenant shall give immediate notice to Landlord upon Tenant obtaining knowledge of such fire or casualty. If the Demised Premises is shall be partially damaged by fire fire, the elements or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent Rent hereunder shall not cease. If, in the opinion of the Landlord, the Demised Premises be is so extensively exten-sively and substantially damaged as to render it them untenantable, then the rent Rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Demised Premises be is totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent Rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written shall automatically and without notice come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent Rent and the performance of all the covenantscov-enants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to Landlord to the Premises by vandalism or burglaryextent of Landlord’s costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against Landlord for reimbursement.
Appears in 1 contract
Samples: Lease Agreement (Xenomics Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, ; in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglary.
Appears in 1 contract
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which caseease, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglary.
Appears in 1 contract
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Landlord. If the Demised Premises untenantableshall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent Base Rent and Additional Rent hereunder shall not cease. If, in the opinion of the Landlord, the Demised Premises be are so extensively and substantially damaged as to render it them untenantable, then the rent Base Rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, Landlord the Demised Premises be are totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, and if such rebuilding is likely to require a period of not less than one hundred eighty (180) days to be completed, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent Base Rent shall be abated from paid up to the date time of such destruction and then, at the option of either party, exercised within sixty (60) days of the fire or other casualty until issuance occurrence of a certificate of occupancy for the Premisescasualty, during which time Tenant may terminate this Lease by written notice shall come to Landlordan end. In no event event, however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the carelessness, negligence result of the carelessness or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent Base Rent and Additional Rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
Appears in 1 contract
Samples: Lease Agreement (Diplomat Corp)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. (A) If the Demised Premises is shall be damaged or destroyed by fire or other casualty, but then Tenant shall give notice thereof to Landlord, and except as hereinafter otherwise provided, Landlord shall, within reasonable time thereafter, repair or restore the Demised Premises to substantially the same condition the Demised Premises were in prior to such casualty. Notwithstanding the foregoing, Landlord shall not be obligated to spend for such repairs and restoration any amount in excess of such insurance proceeds, if any, as shall be paid to Landlord as the result of such damage or destruction, and subject to the prior rights thereto, if any, of any mortgagees. If the damage to the Demised Premises should be so extensive as to render the Premises untenantablewhole or any part thereof untenable or unsuitable for use and occupancy by Tenant, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion a just proportion of the LandlordMinimum Rent, according to the Premises nature and extent of the injury to the Demised Premises, shall be so extensively and substantially damaged as to render it untenantable, then suspended or abated until occupancy the rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, repaired or restored as provided in the opinion first sentence of this Section (A). It is agreed and understood that if during the Landlord, term of this Lease either the Demised Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent Building shall be abated from damaged or destroyed as aforesaid to the date extent of the fire twenty five percent (25%) or other casualty until issuance more of a certificate their insurable value, Landlord or Tenant, at either of occupancy for the Premisestheir election, during which time Tenant may terminate the term of this Lease by written a notice to Landlordthe other within thirty (30) days after such damage or destruction. It is also agreed and understood that if during the last six (6) months of the term of this Lease the Demised Premises shall be damaged or destroyed as aforesaid to the extent of twenty five percent (25%) or more of their insurable value, Tenant at its election, may terminate the term of this Lease by a notice to Landlord within thirty (30) days after such damage or destruction. In no the event however, shall of any termination of the term of this Lease pursuant to the provisions of this clause become Article, the termination shall be effective or be applicable, if on the fire or other casualty results from fifteenth (15th) day after the carelessness, negligence or improper conduct giving of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successorsnotice of termination. In such case, the Tenant’s liability for the payment A just proportion of the rent Minimum Rent, according to the nature and extent of the performance injury to the Demised Premises, shall be suspended or abated until the time of all termination, and Minimum Rent shall be apportioned as of the covenantstime of termination. If Landlord is required or elects to repair or restore the Demised Premises as hereinabove provided, conditions and terms hereof on the Tenant’s part to be performed shall continue and the then Tenant shall be liable resume its business therein. If Landlord shall not substantially complete repair and restoration of the Demised Premises to the extent required under this Section (A) on or before the one hundred eightieth (180th) day following the occurrence of such casualty (“the Deadline”), then the term of this Lease shall terminate upon the Deadline unless prior to the Deadline Tenant shall give notice to the Landlord for that Tenant then elects to continue the damage term of this Lease thereafter, and loss suffered if Tenant shall so elect then this sentence shall thereafter be void and of no further force or effect. Initials: JPF. SPM. 12
(B) Throughout the Lease Term, Landlord shall maintain in full force such fire and casualty insurance with respect to the Building and the Demised Premises as shall from time to time be required by the holder of a first mortgage upon the Entire Parcel or if no such insurance is required, such insurance as a prudent property owner would customarily carry. The cost to Landlord of any insurance which Landlord shall maintain with respect to the Demised Premises, the Building and/or the Entire Parcel, including, without limitation, fire, so-called extended coverage, rent insurance, agreed amount, inflation guard, all risk and/or difference-in-conditions coverage, and general comprehensive public liability insurance, is herein referred to as “Landlord’s insurance cost.” Landlord shall supply to Tenant from time to time upon request of Tenant certificates of all such insurance issued by or on behalf of the insurers named therein by a duly authorized agent. If Landlord’s insurance cost for any calendar year shall exceed Five Thousand Nine Hundred Sixty Four Dollars ($5,964.00) Tenant shall repair all damages caused pay 42.36% of such excess to Landlord within fifteen (15) days after Landlord shall give Tenant notice of such cost thereof in each case. For the calendar year during which the month of this Lease shall commence and terminate, Tenant shall pay a pro rata portion of such excess. The reasonable determination of Landlord’s insurance agent with respect to the amount of any such excess shall be conclusive and finally determinative for purposes hereof. Nothing in this Section (B) shall be deemed to limit in any way the obligations of Tenant contained in this Lease with respect to the maintaining of any type of insurance whatsoever.
(C) Tenant shall not do, or suffer to be done, or keep, or suffer to be kept, or omit to do, anything in, upon or about the Demised Premises, the Building and/or the Entire Parcel which may prevent the obtaining of any insurance on, or with respect to the Demised Premises, the Building and/or the Entire Parcel or on any property therein, including, without limitation, fire, extended coverage, public liability insurance and any other insurance referred to in Section (A) hereof, or which may make void or voidable any such insurance or which may create any extra premiums for, or increase the rate of, any such insurance. If anything shall be done or kept or omitted to be done in, upon or about the Demised Premises which shall create any increased or extra premiums for or increase the rate of, any such insurance, then, in addition to all other rights and remedies which Landlord may have as a result thereof, Tenant shall pay the increased cost of the same to Landlord upon demand. In determining whether extra or increased premiums are the result of Tenant’s use of the Demised Premises a Schedule issued by vandalism the organization making the rates applicable to the Demised Premises, or burglarya certificate of Landlord’s insurance agent, showing the components of such rates, shall be conclusive evidence of the items and charges which comprise the rate of any such insurance and any increase therein and extra charge therefore.
Appears in 1 contract
Samples: Lease Agreement (Spring Bank Pharmaceuticals, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises is shall be damaged by fire or other casualty, but not so other than as to render a result of the Premises untenantablenegligence or misconduct of Tenant, the Lease shall not terminate and, upon adjustment of insurance claims, Landlord shall repair the same as speedily as practicabledamage, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: provided that (a) notify Tenant that the Lease is terminated; Landlord shall have no obligation to repair damage to or replace Tenant's Personal Property, and (b) notify Tenant that Landlord intends Landlord's obligation to rebuild the Premises, in which case, rent repair any damage under this Section 16 shall be abated limited to repairs necessary to restore the Premises to its original Cold Dark Shell Condition. Except as otherwise provided herein, if any part of the Premises are rendered untenantable by reason of any such damage, Rent shall xxxxx from the date of the damage to the date the damage is repaired, as determined by Landlord, in the proportion that the area of the untenantable part bears from time to time to the total area of the Premises. No compensation or reduction of Rent shall be paid or allowed for inconvenience, annoyance or injury to Tenant or Tenant's business arising from any damage to or repair of the Premises or the Building. Notwithstanding the foregoing, if Landlord does not receive sufficient insurance proceeds to fully repair the damage (it being agreed that Landlord shall make a good faith effort to persuade any Mortgagee to make such insurance proceeds available for the restoration of such damage, which good faith effort shall not include any obligation on the part of Landlord to agree to any modification of the terms of the loan secured by the Mortgage or any obligation to pay any money to the Mortgagee or deposit any money into escrow, other than the amount of any deductible under Landlord's insurance policy), or if the Building shall be so damaged that, as determined by Landlord, substantial reconstruction of the Premises or the Building is required (whether or not the Premises have been damaged), then Landlord, at its option, may give Tenant, within sixty (60) days after the casualty, written notice of termination of this Lease (the "Casualty Termination Notice"), and this Lease and the Term shall terminate (whether or not the Term has commenced) upon the expiration of thirty (30) days from the date of the Casualty Termination Notice, with the same effect as if the new expiration date had been the date initially fixed for expiration of the Term, and all Rent shall be apportioned as of such date; provided, however, that, in the event that Landlord elects to terminate this Lease pursuant to this Section 16, Tenant shall have the option to override the Casualty Termination Notice and fully repair the damage to the Building by giving written notice to Landlord, which notice shall be given, if at all, within ten (10) days following the Casualty Termination Notice, in which event (a) Landlord shall assign all insurance proceeds which Landlord actually receives with respect to such fire or other casualty until issuance of a certificate of occupancy for the Premisesto Tenant, during which time (b) Tenant may terminate this Lease shall promptly repair such damage, and (c) such repairs by written notice Tenant shall be subject to Landlord. In no event however, shall 's prior written approval in accordance with the provisions of this clause become effective Section 8 hereof. If the Premises or the Building shall be applicable, if the damaged by fire or other casualty results from due to the carelessness, negligence or improper conduct misconduct of Tenant: (i) Landlord shall have no obligation to repair the Tenant Premises or the Building, (ii) this Lease shall, at Landlord's option, not terminate, (iii) Landlord may at Tenant’s agents's expense repair the damage, employeesprovided that Landlord shall apply all insurance proceeds which Landlord actually receives with respect to such damage toward the costs of such repairs, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions (iv) Landlord may pursue any legal and terms hereof on the Tenant’s part equitable remedies available to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglaryit.
Appears in 1 contract
Samples: Deed of Lease (Equinix Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Premises untenantableLandlord. If the premises shall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises premises be so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises premises shall be made tenantable by the Landlord; if Landlord fails to make the premises tenantable within six (6) months after such casualty, then Tenant may terminate this lease upon thirty (30) days written notice to Landlord. However, if, in the opinion of the Landlord, the Premises premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written notice lease shall come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
Appears in 1 contract
Samples: Lease Agreement (Equinix Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the ----------------------- Tenant shall give immediate notice to render the Premises untenantableLandlord. If the premises shall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, in the opinion option of the Landlord, the Premises premises be so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises premises shall be made tenantable by the Landlord. However, if, in the opinion option of the Landlord, the Premises premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written notice lease shall come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
Appears in 1 contract
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at affecting the Demised Premises, Tenant shall give immediate notice to Landlord or, in case of fire or other casualty affecting the Property other than the Demised Premises, Tenant shall give immediate notice to Landlord upon Tenant obtaining knowledge of such fire or casualty. If the Demised Premises is shall be partially damaged by fire fire, the elements or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent Rent hereunder shall not cease. If, in the opinion of the Landlord, the Demised Premises be is so extensively and substantially damaged as to render it them untenantable, then the rent Rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Demised Premises be is totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent Rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written shall automatically and without notice come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent Rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to Landlord to the Premises by vandalism or burglaryextent of Landlord’s costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against Landlord for reimbursement.
Appears in 1 contract
Samples: Lease Agreement (Advaxis, Inc.)
Fire and Other Casualty. Tenant If the Premises shall immediately notify Landlord be damaged by fire, action of any fire the elements or other casualty or cause which is within the risks covered by standard fire and extended coverage insurance, the Tenant shall give immediate notice thereof to the Landlord, and said damage shall be repaired by the Landlord, at the Premises. If Landlord's expense, with all reasonable speed, making due allowance for delay due to labor troubles, settlement of loss and other causes beyond the Premises is damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion control of the Landlord, and the Premises be so extensively Tenant shall, in every reasonable way, facilitate the making of such repairs, and substantially damaged as to render it untenantable, then the rent shall cease until be suspended during such time period as the Premises shall be made tenantable have been rendered wholly untenantable until five (5) days after the Landlord notifies the Tenant that the Premises are substantially ready for the Tenant's occupancy (or the Premises are sooner occupied by the Landlord. However, ifTenant) and, in the opinion of event that the LandlordPremises are rendered partially untenantable, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated during such period, in the proportion which the area of the Premises which is rendered untenantable bears to the area of the whole Premises. In addition to the foregoing rental abatement, provided that (i) Tenant promptly commences and diligently prosecutes such alterations to the Premises as are necessary for Tenant to recommence operations within the Premises, and (ii) Landlord continues to be reimbursed by Landlord's insurance company for its rental loss, then Tenant shall be entitled to a further abatement of rent during Tenant's refixturing of the Premises, which abatement shall be coextensive with the rental loss reimbursement received by Landlord from Landlord's insurance company. The decision of Landlord's insurance company shall be conclusive and Landlord shall have no obligation to contest the same, by litigation or otherwise. No damage to the Premises or the building by fire, or other cause, however extensive, shall terminate this lease, or give the Tenant the right to quit and surrender the Premises, or impair any obligations of the Tenant hereunder, except with respect to the payment of rent (and with respect thereto to the extent above provided) and except that (i) if the damage shall be so extensive that the Landlord shall determine to demolish or substantially alter the building, whether or not the Premises are affected, the Landlord may at any time within one hundred twenty (120) days following the occurrence of the damage give to the Tenant thirty (30) days' notice of intention to terminate this lease; (ii) if the damage to the Premises is substantial so that the whole or substantially the whole of the Premises is rendered untenantable by the Tenant or if 50% or more of the common areas of the building are destroyed or substantially damaged and the Landlord does not within 60 days following the occurrence of the damage notify the Tenant of the Landlord's intention to repair the damage to the Premises so that the Premises are again useable by the Tenant within a period of not more than 180 days following the occurrence of the damage subject to delays due to settlement of loss or causes of the kinds described in Article THIRTY-FOUR of this lease, the Tenant may cancel this lease by notice given within 10 days following the expiration of the said 60-day period for the Landlord's notice of election to repair, time being of the essence; (iii) if the Landlord has given notice of its intention to restore the Premises, but fails to substantially complete such restoration within 180 days following the occurrence of the damage, subject to delays due to settlement of loss or delays of the kind described in Article THIRTY-FOUR of this lease, the Tenant may cancel this lease by notice given within 10 days following the expiration of the said 180-day period, time being of the essence; and (iv) in the event of the occurrence of damage to the Premises of the degree described above in clause (ii) of this paragraph (a), the Landlord may also elect to terminate this lease by notice of election to do so given within 60 days following the occurrence of the damage. If notice of election to terminate this lease shall be given as above provided, then, upon the date for termination designated in any such notice, this lease and the term hereby granted shall terminate and the rent shall be apportioned as of the date of the fire damage or as of such later date as the Tenant may actually surrender possession. Nothing herein contained shall be deemed to obligate the Landlord to restore the Tenant's trade fixtures, equipment, stocks, furnishings, improvements or other casualty until issuance property remaining the property of a certificate the Tenant. The Tenant acknowledges that the Landlord will not carry insurance on the Tenant's furniture or any fixtures or equipment, improvements or appurtenances removable by Tenant and agrees that the Landlord will not be obligated to repair any damage thereto or replace the same. The Tenant hereby waives the provisions of occupancy for Section 227 of the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall Real Property Law and agrees that the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent Article SIXTEEN shall govern and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglarycontrol in lieu thereof.
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Samples: Lease Agreement (Getty Images Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at 9.1. In the Premises. If event the Premises is are damaged by fire or other casualty, but not so Landlord shall retain a reputable, independent third-party contractor reasonably acceptable to Tenant who, within thirty (30) days of such casualty, shall give written notice to Landlord and Tenant of its determination of how long it will take to fully rebuild and restore the damaged Premises to the condition existing immediately prior to such casualty (excluding all Alterations to the Premises) (the “Determination Notice”). In addition, Landlord shall, within such thirty (30) day period, obtain written confirmation from the mortgagee of the Premises, if any, as to render whether the mortgagee will make all or substantially all of the insurance proceeds payable in connection with such casualty available for restoration (the “Mortgagee Notice”), and Landlord shall promptly deliver the Mortgagee Notice to Tenant. If the mortgagee informs Landlord that such mortgagee will not make all or substantially all of the insurance proceeds payable in connection with such casualty available for restoration, then, within thirty (30) days of delivery of the Determination Notice, Landlord may terminate this Lease upon written notice to Tenant. In the event that (a) the Premises untenantableis so destroyed that it cannot be repaired or rebuilt within twelve (12) months after the earlier of (i) the expiration of thirty (30) days after the date of such casualty, or (ii) the Landlord shall repair date of the same as speedily as practicableDetermination Notice and there is less than five (5) years remaining on the Term, but the subject to Tenant’s obligation option to pay extend the rent hereunder Term set forth in Section 3.4, Landlord may terminate this Lease upon written notice to Tenant. Notwithstanding Landlord’s right to terminate this Lease in accordance with this Section 9.1, such termination right shall only pertain to the Premises Building(s) in which the casualty occurred and shall not cease. If, in the opinion pertain to any of the Landlordother Premises Buildings not affected by such casualty, for which this Lease shall remain in full force and effect. In such event, Landlord and Tenant shall enter into an amendment to this Lease to this Lease removing the affected Premises Building from the operation of this Lease. In the event that (a) the Premises is so destroyed that it cannot be so extensively repaired or rebuilt within twelve (12) months after the earlier of (i) the expiration of thirty (30) days after the date of such casualty, or (ii) the date of the Determination Notice, Tenant may terminate this Lease upon written notice to Landlord. Further, if this Lease is not terminated pursuant to this Section 9.1, and if Landlord fails to substantially damaged as complete its restoration obligations under Section 9.2 with respect to render it untenantablesuch casualty within twelve (12) months after the earlier of (i) the expiration of thirty (30) days after the date of the casualty, or (ii) the date of the Determination Notice (or otherwise within such other period of time that Landlord may have agreed to complete such restoration following delivery of the Determination Notice to Tenant), subject to Force Majeure not to exceed ninety (90) days, then commencing thirty (30) days after the rent shall cease until expiration of the twelve (12) month period (or such time as the Premises shall be made tenantable other period), Tenant may thereafter terminate this Lease by the giving written notice thereof to Landlord prior to Landlord’s substantial completion of such restoration. HoweverFurther, if, in Tenant’s reasonably judgment, Tenant’s Alterations in the opinion Premises (including, but not limited to, the Initial Tenant Improvements) cannot be repaired or rebuilt (following Landlord’s restoration of the LandlordPremises) within twelve (12) months after the earlier of (i) the expiration of thirty (30) days after the date of such casualty, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (bii) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the PremisesDetermination Notice, during which time Tenant may terminate this Lease by giving written notice thereof to Landlord. In no Upon the giving of any termination notice pursuant to this Section, all obligations hereunder with respect to periods from and after the effective date of termination shall thereupon cease and terminate, and in such event howeverthe Base Rent and all Additional Rent and other sums payable under this Lease shall be apportioned and paid in full by Tenant to Landlord to the date of such casualty, and neither party shall thereafter have any liability hereunder, except that any obligation or liability of either party, actual or contingent, under this Lease which has accrued on or prior to such termination shall survive. Notwithstanding the provisions of this clause become effective or be applicableforegoing, if Landlord terminates this Lease as a result of a casualty in accordance with sub clause (b), Tenant will have the fire or right to nullify such termination by exercising a renewal rights pursuant to Section 3.4.
9.2. If this Lease is not terminated pursuant to Section 9.1, Landlord shall expeditiously (subject to Force Majeure and Tenant Delays and taking into account the time necessary to adjust insurance proceeds, prepare plans and specifications, and obtain all required governmental approvals) restore the Premises, subject to modifications required by Applicable Laws, Landlord and Tenant shall cooperate and coordinate with each other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and regarding the performance of their respective restoration obligations. In the event that Tenant is prevented from using, and does not use, all or any portion of the covenantsPremises as a result of any such casualty, conditions and terms hereof on then, from the date of such casualty until the Abatement Expiration Date (as defined below), (a) Base Rent shall xxxxx in proportion to the portion of the Premises rendered unusable, utilizing the Base Rent rate applicable to any such portion of the Premises, (b) the Additional Rent consisting of Tenant’s part to be performed Share of CAM Area Operating Expenses shall continue and the Tenant shall be liable xxxxx in proportion to the Landlord for rentable square footage of the damage portion of the Premises rendered unusable and loss suffered by the Landlord. Tenant (c) Additional Rent consisting of Tenant’s Share of Real Property Taxes shall repair all damages caused xxxxx in proportion to the portion of the Premises by vandalism rendered unusable. The “Abatement Expiration Date” shall mean the earlier of (i) the date Tenant commences to use the portion of the Premises rendered unusable or burglary(ii) the date when (A) Landlord has substantially completed all of its restoration obligations with respect to such casualty, and has obtained a temporary or permanent certificate of occupancy or the equivalent thereof from the applicable governmental authority in order for Tenant to legally occupy and use the Premises for its permitted purposes, (B) Tenant has substantially completed all of its restoration obligations under this Lease with respect to such casualty, and (C) if required in order for Tenant to legally occupy and use the Premises for its permitted purposes, Tenant has obtained a temporary or permanent certificate of occupancy or the equivalent thereof from the applicable governmental authority.
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Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. (A) If the Demised Premises is shall be damaged or destroyed by fire or other casualty, but then Tenant shall give notice thereof to Landlord and except as hereinafter otherwise provided, Landlord shall, within reasonable time thereafter, repair or restore the Demised Premises to substantially the same condition the Demised Premises were in prior to such casualty and capable of being and for the uses permitted hereby. Notwithstanding the foregoing, Landlord shall not be obligated to spend for such repairs and restoration any amount in excess of such insurance proceeds, if any, as shall be paid to Landlord as the result of such damage or destruction, and subject to the prior rights thereto, if any, of any mortgagees. If the damage to the Demised Premises should be so extensive as to render the Premises untenantablewhole or any part thereof untenable or unsuitable for use and occupancy by Tenant for the uses permitted hereunder, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion a just proportion of the LandlordMinimum Rent, Real Estate Taxes and Operating Expenses, according to the Premises nature and extent of the injury to the Demised Premises, shall be so extensively and substantially damaged as to render it untenantable, then suspended or abated until occupancy of the rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, repaired or restored as provided in the opinion first sentence of this Section (A). It is agreed and understood that if during the term of this Lease either the Demised Premises or the Building shall be damaged or destroyed as aforesaid to the extent of twenty-five percent (25%) or more of their insurable value, Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereofat its election, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate the term of this Lease by written a notice to LandlordTenant within thirty (30) days after such damage or destruction. It is also agreed and understood that if during the last six (6) months of the term of this Lease the Demised Premises shall be damaged or destroyed as aforesaid to the extent of twenty-five percent (25%) or more of their insurable value, Tenant at its election, may terminate the term of this Lease by a notice to Landlord within thirty (30) days after such damage or destruction. In no the event however, shall of any termination of the term of this Lease pursuant to the provisions of this clause become Article, the termination shall be effective or be applicable, if upon the fire or other casualty results from fifteenth (15th) day after the carelessness, negligence or improper conduct giving of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successorsnotice of termination. In such case, the Tenant’s liability for the payment A just proportion of the rent Minimum Rent, Real Estate Taxes and Operating Expenses, according to the performance nature and extent of all the covenantsinjury to the Demised Premises, shall be suspended or abated until the time of termination, and Minimum Rent shall be apportioned as of the time of termination. If Landlord is required or elects to repair or restore the Demised Premises as hereinabove provided, then Tenant shall, subject to the conditions hereof, resume its business therein. If Landlord shall not substantially complete repair and terms hereof restoration of the Demised Premises the extent required under this Section (A) on or before the Tenant’s part fifteenth (15th) day following the occurrence of such casualty (hereinafter referred to be performed as the “Deadline”), then the term of this Lease shall continue and terminate upon the Deadline unless prior to the Deadline Tenant shall be liable give notice to the Landlord for that Tenant then elects to continue the damage term of this Lease thereafter, and loss suffered if Tenant shall so elect then this sentence shall thereafter be void and of no further force or effect.
(B) Landlord shall maintain such fire and casuals insurance with respect to the Demised Premises as shall from time to time be required by the holder of a first mortgage upon the Entire Parcel. The cost to Landlord of any insurance which Landlord shall maintain with respect to the Demised Premises, the Building and/or the Entire Parcel, including, without limitation, fire, so-called extended coverage, rent insurance, agreed amount, inflation guard, all risk and/or difference-in-conditions coverage, and general comprehensive public liability insurance, is herein referred to as “Landlord’s Insurance Cost”. The determination of Landlord’s insurance agent with respect to the amount of any excess insurance premiums pursuant to Section 9-B shall be conclusive and finally determinative for purposes hereof. Nothing in this Section (B) shall be deemed to limit in any way the obligations of Tenant contained in this Lease with respect to the maintaining of any type of insurance whatsoever.
(C) Tenant shall repair all damages caused not do, or suffer to be done, or keep, or suffer to be kept, or omit to do, anything in, upon or about the Demised Premises, the Building and/or the Entire Parcel which may prevent the obtaining of any insurance on, or with respect to the Demised Premises, the Building and/or the Ensure Parcel or on any property therein, including, without limitation, fire, extended coverage, public liability insurance and any other insurance referred to in Section (A) hereof, or which may make void or voidable any such insurance or which may create any extra premiums for, or increase the rate of, any such insurance. If anything shall be done or kept omitted to be done in, upon or about the Demised Premises which shall create any increased or extra premiums for or increase the rate of, any such insurance, then, in addition to all other rights and remedies which Landlord may have as a result thereof, Tenant shall pay the increased cost of the same to Landlord upon demand. In determining whether extra or increased premiums are the result of Tenant’s use of the Demised Premises a Schedule issued by vandalism the organization making the rates applicable to the Demised Premises, or burglarya certificate of Landlord’s insurance agent, showing the components of such rates, shall be conclusive evidence of the items and charges which comprise the rate of any such insurance and any increase therein and extra charge therefore.
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Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire 13.1 If a fire, the elements or other casualty at (a "Casualty") results in damage to the Leased Premises, the Tenant shall give immediate notice to the Landlord. If the Leased Premises is partially damaged by fire or other casualtya Casualty, but not so as to render the Premises untenantable, the Landlord shall repair the Leased Premises as soon as practicable to the same condition as speedily as practicableexisting prior to such Casualty, but the and Tenant’s 's obligation to pay the rent hereunder shall not cease. Ifbe equitably abated until the Leased Premises have been repaired or restored to its condition existing prior to such Casualty, in the opinion amount of such abatement of rent depending upon the character and extent of damage and loss of use to the Tenant.
13.2 If (i) the Leased Premises are totally destroyed (which would require the razing of entire sidewalls of the Landlordbuilding before reconstruction would be practical) or, (ii) the Leased Premises be so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until be paid up to the time of such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively destruction and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlordshall terminate. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from Casualty shall be the carelessness, result of the negligence or improper conduct intentional misconduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, invitees or subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and unabated for the remainder of the Term.
13.3 If Tenant shall have been insured against any Casualty, then the proceeds of such insurance shall be liable paid over to the Landlord for to the damage and loss suffered by extent of the Landlord. Tenant shall repair all damages caused 's costs and expenses to make the Premises by vandalism or burglaryrepairs hereunder.
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Samples: Lease Agreement (Bway Corp)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Landlord. If the Leased Premises untenantableshall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Leased Premises be so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Leased Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Leased Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written notice lease shall come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
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Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Premises untenantableLandlord. If the premises shall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, ; in the opinion of the Landlord, the Premises be premises are so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises premises shall be made tenantable by the Landlord. However, if, ; in the opinion of the Landlord, the Premises be totally destroyed or premises are so extensively and substantially damaged as that the Landlord decides not to require practically a rebuilding thereofrebuild, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from paid up to the date time of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate such destruction and thenceforth this Lease by written notice shall come to Landlordan end. In no event howeverHowever, shall the provisions of this clause shall not become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
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Fire and Other Casualty. Tenant shall immediately notify Landlord Effective upon the Lease Commencement Date, in case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant/Purchaser shall give immediate notice to render the Landlord/Seller. If the Leased Premises untenantableshall be partially damaged by fire, the Landlord elements or other casualty so that Tenant/Purchaser is able to satisfactorily operate its business, as Tenant/Purchaser may in its sole discretion determine, then the Tenant/Purchaser shall repair the same as speedily as practicable, but the Tenant’s /Purchaser's obligation to pay the rent hereunder shall not ceasecease unless and until the Lease is terminated in accordance with this Section 20. If, however, in the reasonable opinion of the Tenant/Purchaser and the Landlord/Seller, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord the rent shall either: (a) notify Tenant that be paid to the time of such destruction and then and from thenceforth this Lease is terminated; or (b) notify Tenant that Landlord intends shall come to an end unless Tenant/Purchaser in its sole discretion should decide to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event event, however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant Tenant/Purchaser or the Tenant’s /Purchaser's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successorssuccessors and, as a result thereof, insurance proceeds shall be not collectible. In such case, the Tenant’s /Purchaser's liability for the payment of the rent and the performance of all the covenants, conditions conditions, and terms hereof on the Tenant’s /Purchaser's part to be performed shall continue and the Tenant Tenant/Purchaser shall be liable to the Landlord Landlord/Seller for the damage and loss suffered by the Landlord/Seller. Tenant If the Tenant/Purchaser shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises Tenant/Purchaser to the extent of the Tenant/Purchaser's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord/Seller for reimbursement, unless the damage is caused by vandalism or burglarythe action of the Landlord/Seller in which case the Tenant/Purchaser may proceed to collect all expenses from Landlord/Seller.
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Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Landlord and shall assign to Landlord the casualty insurance proceeds described in Section 9(A) above. If the Premises untenantableshall be partially damaged by fire, the elements or other casualty, provided that the Landlord receives the proceeds of insurance described in Section 9(A) above, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent Rent hereunder shall not cease. If, in the sole and exclusive opinion of the Landlord, the Premises be have been so extensively and substantially damaged as to render it them untenantable, then the rent Rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the sole and exclusive opinion of the Landlord, the Premises be have been totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then the Rent shall be paid up to the time of such destruction and then and from thenceforth this Lease shall terminate, Landlord shall either: (a) notify Tenant that be entitled to. receive all proceeds of insurance pertaining to the Lease is terminated; casualty and neither party shall have any further liability or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlordobligation hereunder. In no event however, shall the provisions of this clause Section become effective or be applicable, applicable if the fire tire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent Rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
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Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglary.
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Fire and Other Casualty. Tenant If the premises shall immediately notify Landlord be damaged by fire, action of any fire the elements or other casualty or cause which is within the risks covered by insurance carried by the Landlord, The Tenant shall give immediate notice thereof to the Landlord, and said damage shall be repaired by the Landlord, at the Premises. If Landlord’s expense, with all reasonable speed, making due allowance for delay due to labor trouble, settlements of loss and other causes beyond the Premises is damaged by fire or other casualty, but not so as to render the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion control of the Landlord, and the Premises be Tenant shall remove its property so extensively and substantially damaged as to render it untenantablefacilitate the making of such repairs, then and the rent shall cease until be suspended during such time period as the Premises premises shall be made tenantable have been rendered wholly untenantable until five (5) days after the landlord notifies the tenant that the premises are substantially ready for the Tenant’s occupancy (or the premises are sooner occupied by the Landlord. However, ifTenant for the conduct of its business) and, in the opinion of event that the Landlordpremises are rendered partially untenantable, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from during such period, in the proportion which the area of the premises which is rendered untenantable bears to the area of the whole premises. No damage to premises or the building by fire, or other cause, however extensive, shall terminate this lease, or give the Tenant the right to quit and surrender the premises, or impair any obligations of the Tenant hereunder, except with respect to the payment of rent (and with respect thereto the extent above provided) and except that (i) If the Damage shall be so extensive that the Landlord shall determine to demolish or substantially alter the building, whether or not the premises are affected, the Landlord, may at any time within one hundred twenty (120) days following the occurrence of the damage give to the Tenant thirty (30) days notice of intention to terminate this lease; (ii) If the damage to the premises is substantial so that the whole or substantially the whole of the premises is rendered untenantable by the Tenant of if 50% or more of the common areas of the building are destroyed or substantially damaged and the landlord does not within 60 days following the occurrence of the damage notify the Tenant of the Landlord’s intention to repair the damage to the premises so that the premises are again useable by the Tenant within a period of not more than 180 days following the occurrence of the damage subject to delays due to settlement of loss or delays of the kind described in Article THIRTY-FOUR of this lease, the tenant may cancel this lease by notice given within 10 days following the expiration of the said 180 day period, time being of the essence, and (iv) in the event of the occurrence of damage to the premises of the degree described above in clause (ii) of this paragraph (a) The Landlord may also elect to terminate this lease by notice of election to do so given within 60 days following the occurrence of the damage. If notice of election to terminate this lease shall be given as above provided, then upon the date for terminate and the rent shall be apportioned as of the date of the fire damage or as of such later date as Tenant may actually surrender possession. Nothing herein contained shall be deemed to obligate the Landlord to restore the tenant’s trade fixtures, equipment, stocks, furnishing, improvements or other casualty until issuance property remaining the property of a certificate the Tenant. The Tenant acknowledges that the landlord will not carry insurance on the Tenant’s furniture or any fixtures or equipment, improvements or appurtenances removable by the Tenant and agrees that the Landlord will not be obligated to repair any damage thereto or replace the same. The Tenant hereby waives the provisions of occupancy for Sections 227 of the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall Real Property Law and Agrees that the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent Article SIXTEEN shall govern and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglarycontrol in lieu thereof.
Appears in 1 contract
Samples: Lease Agreement (Inuvo, Inc.)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as Tenant shall give immediate notice to render the Landlord, of which Tenant is aware. If the Premises untenantableshall be partially damaged by fire, the elements or other casualty but, as reasonably determined and mutually agreed by Tenant and Landlord, the Premises are still fit for use, then the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent Rent hereunder shall not ceasecontinue unabated. If, in the opinion of the Landlord, If the Premises be so extensively and substantially damaged as to render it untenantablethem unfit for use, as reasonably determined and mutually agreed by Tenant and Landlord, then the rent Rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, if in the good faith opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent Rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written notice Agreement shall come to Landlordan end. In no event event, however, shall the provisions of this clause become effective or be applicable, applicable if the fire or other casualty results from and damage shall be the carelessness, negligence result of any acts or improper conduct omissions of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees assignees, successors, or successorsauthorized personnel. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed by the Tenant shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair have been insured against any and all damages caused of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord’s costs and expenses to make the repairs hereunder and such insurance carrier shall have no recourse against the Landlord for reimbursement.
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Fire and Other Casualty. Tenant If any Improvement or any Personal Property shall immediately notify Landlord of any fire be damaged or other casualty at the Premises. If the Premises is damaged destroyed by fire or other casualty, but then, irrespective of the cause and whether or not so such damage or destruction shall have been insured, Lessee shall give prompt written notice thereof to Lessor, and Lessor shall proceed with reasonable diligence to carry out any necessary demolition and to restore, repair, replace and rebuild such Improvements or Personal Property at Lessor's own cost and expense. If, as a result of the actions of any Fee Mortgagee or otherwise, insurance proceeds are not made available to render the Premises untenantableLessor, and if the Lessor is unable after reasonable diligent efforts to secure and provide replacement funds, the Landlord Lessee shall repair have the same right to terminate this Lease without further liability on the part of Lessee or Lessor unless the unavailability of such insurance proceeds is the result of Lessor's acts or omissions. If at any time Lessor shall fail or neglect to supply sufficient workmen or sufficient materials of proper quality, or fail in any other respect to prosecute such work of demolition, restoration, repair, replacement or rebuilding with diligence and promptness, then Lessee may give Lessor notice of such failure or neglect, and, if such failure or neglect continues for twenty (20) days after such notice, then Lessee, in addition to all other rights which Lessee may have, including, without limitation, the right to cancel and terminate this Lease, may enter upon the Demised Premises, provide labor and/or materials, cause the performance of any contract, and/or do such other acts and things as speedily Lessee may deem advisable to prosecute such work. All costs and expenses incurred by Lessee in carrying out such work shall be borne by Lessor and shall be payable by Lessor to Lessee upon demand, which demand may be made by Lessee from time to time as practicablesuch costs and expenses are incurred, but in addition to any and all damages to which Lessee shall be entitled hereunder. Rent shall xxxxx hereunder as of the Tenant’s obligation date of damage or destruction in proportion to the percentage of the Demised Premises thereby rendered unusable (in Lessee's sole opinion). Lessor shall in such event look solely to proceeds of its insurance (including its loss of rents coverage. Any proceeds of loss of rents insurance received by Lessor by reason of such damage or destruction shall be applied by Lessor to the payment of Rent which would otherwise be due from Lessee under Paragraph 3 hereof, Impositions payable by Lessee under Paragraph 5 hereof and premiums for any insurance required to be maintained by Lessee hereunder. In the event rent insurance proceeds received by Lessor are insufficient to pay the same or for any reason such rent hereunder shall insurance proceeds are not cease. If, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as actually applied by Lessor to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and the performance of all the covenantssuch amounts, conditions and terms hereof on the Tenant’s part to be performed Lessor shall continue and the Tenant shall be liable to the Landlord nevertheless have no claim against Lessee for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglaryRental abated hereunder.
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Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render Landlord. If the Premises untenantableare partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall will not cease; PROVIDED, HOWEVER, that the Tenant is practicably able to continue using the Premises until said repairs are complete. If, in the reasonable opinion of the Landlord, the Premises be Premises, or any portion thereof, are so extensively and substantially damaged so as to render it same untenantable, then the payment of rent shall cease will be abated in proportion to the extent that Tenant is unable to use such damaged portion of the Premises for a business office or warehouse space, as the case may be, until such time as the Premises shall be are made tenantable by the Landlord. However, if, in the reasonable opinion of the Landlord, the Premises be are totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereofof same, then Landlord shall either: (a) notify Tenant the rent will be paid up to the time of such destruction and from that the point forward this Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice to Landlordterminated. In no event event, however, shall the provisions of this clause preceding three (3) sentences become effective or be applicable, applicable if the fire or other casualty results from and damage are as a result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance Tenant's obligation to perform all of all the covenants, conditions and terms hereof on the Tenant’s part to be performed of this Lease shall continue and the Tenant shall will be liable to the Landlord for the damage and loss suffered by Landlord to the extent that Landlord is not covered under any insurance policy for such damage or loss. If the Tenant was insured against any of the risks covered herein, then the proceeds of such insurance shall be paid over to the Landlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers will have no recourse against the Tenant for reimbursement to the extent such provisions do not void or effect such coverage. If within one (1) year prior to the expiration of the Lease Term or the Renewal Term, as applicable, more than fifty (50%) percent of the Premises shall be damaged or destroyed by fire or other casualty of any kind or nature, foreseen or unforeseen, then Tenant or Landlord may terminate this Lease by providing written notice to the other party within thirty (30) days of any fire or other casualty. In the event of a fire or other casualty, the time for such repairs or restoration shall not exceed one hundred fifty (150) days after such fire or other casualty. Rent and all other charges shall xxxxx from the date of such damage until such time as the Landlord has substantially restored or repaired the Premises and the Tenant can reasonably resume its business operations and the Premises shall have a Certificate of Occupancy. If the time for such repairs or restoration exceeds one hundred fifty (150) days, then in that event, Tenant shall repair all damages caused have the right to terminate this Lease by providing sixty (60) days advance written notice to Landlord. PARAGRAPH 10TH - INSTALLATION OF ALTERATIONS/IMPROVEMENTS BY TENANT Tenant may make non-structural alterations, additions or improvements to the Premises that Tenant deems necessary or desirable. All such alterations, additions or improvements shall be in accordance with Paragraph 33rd of this Lease. Any structural alterations, additions or improvements shall be made only with Landlord's prior written consent. Said alterations are to be performed by vandalism Tenant at Tenant's expense. Notwithstanding subparagraph 33(g) below, if Landlord requires Tenant to do so, Tenant shall restore the Premises to the condition existing prior to such alterations, additions or burglaryimprovements, reasonable wear and tear excepted. Should Tenant wish to have Landlord waive such restoration requirement with respect to any specific alteration, addition or improvement, Tenant shall request, in writing, Landlord's waiver prior to performing any such alteration, addition or improvement, which waiver may be withheld in Landlord's sole discretion. Notwithstanding anything contained to the contrary herein, Landlord shall not unreasonably withhold, delay or condition its consent for any alterations proposed and done by Tenant. Landlord consents to the alterations and improvements set forth in the Landlord/Tenant Work Letter attached to this Lease as Exhibit "C" as well as the initial construction of a large conference room within the Premises, and Landlord waives such restoration requirement with respect to such work. PARAGRAPH 11TH - INSPECTION AND REPAIR The Tenant agrees that the Landlord and the Landlord's agents, employees or other representatives, shall have the right to enter into and upon the Premises or any part thereof, at all reasonable hours, for the purpose of examining the same or making such repairs or alterations therein as may be necessary for the safety and preservation thereof. The preceding sentence shall not be deemed to be a covenant by the Landlord nor be construed to create an obligation on the part of the Landlord to make such inspection or repairs, and no liability shall arise from the failure of Landlord to inspect. Except in the case of emergencies, the Landlord shall provide the Tenant with forty eight (48) hours prior notice, during reasonable business hours of the Tenant, of said inspection or repairs. Said inspection or repairs shall not unreasonably interfere with Tenant's business operations.
Appears in 1 contract
Samples: Lease Agreement (Miix Group Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. (A) If the Demised Premises is shall be damaged or destroyed by fire or other casualty, but then Tenant shall give notice thereof to Landlord, and except as hereinafter otherwise provided, Landlord shall, within reasonable time thereafter, repair or restore the Demised Premises to substantially the same condition the Demised Premises were in prior to such casualty. Notwithstanding the foregoing, Landlord shall not be obligated to spend for such repairs and restoration any amount in excess of such insurance proceeds, if any, as shall be paid to Landlord as the result of such damage or destruction, and subject to the prior rights thereto, if any, of any mortgagees. If the damage to the Demised Premises should be so extensive as to render the Premises untenantablewhole or any part thereof untenable or unsuitable for use and occupancy by Tenant, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion a just proportion of the Landlordminimum rent, according to the Premises nature and extent of the injury to the Demised Premises, shall be so extensively and substantially damaged as to render it untenantable, then suspended or abated until occupancy the rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, repaired or restored as provided in the opinion first sentence of this Section (A). It is agreed and understood that if during the term of this Lease either the Demised Premises or the Building shall be damaged or destroyed as aforesaid to the extent of twenty five percent (25%) or more of their insurable value, Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereofat its election, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate the term of this Lease by written a notice to LandlordTenant within thirty (30) days after such damage or destruction. It is also agreed and understood that if during the last six (6) months of the term of this Lease the Demised Premises shall be damaged or destroyed as aforesaid to the extent of twenty five percent (25%) or more of their insurable value, Tenant at its election, may terminate the term of this Lease by a notice to Landlord within thirty (30) days after such damage or destruction. In no the event however, shall of any termination of the term of this Lease pursuant to the provisions of this clause become Article, the termination shall be effective or be applicable, if on the fire or other casualty results from fifteenth (15th) day after the carelessness, negligence or improper conduct giving of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successorsnotice of termination. In such case, the Tenant’s liability for the payment A just proportion of the minimum rent, according to the nature and extent of the injury to the Demised Premises, shall be suspended or abated until the time of termination, and minimum rent and shall be apportioned as of the performance time of all termination. If Landlord is required or elects to repair or restore the covenantsDemised Premises as hereinabove provided, conditions and terms hereof on the Tenant’s part to be performed shall continue and the then Tenant shall be liable resume its business therein. If Landlord shall not substantially complete repair and restoration of the Demised Premises to the extent required under this Section (A) on or before the one hundred eightieth (180th) day following the occurrence of such casualty ("the Deadline"), then the term of this Lease shall terminate upon the Deadline unless prior to the Deadline Tenant shall give notice to the Landlord for that Tenant then elects to continue the damage term of this Lease thereafter, and loss suffered if Tenant shall so elect then this sentence shall thereafter be void and of no further force or effect.
(B) Landlord shall maintain such fire and casualty insurance with respect to the Demised Premises as shall from time to time be required by the holder of a first mortgage upon the Entire Parcel. The cost to Landlord of any insurance which Landlord shall maintain with respect to the Demised Premises, the Building and/or the Entire Parcel, including, without limitation, fire, so-called extended coverage, rent insurance, agreed amount, inflation guard, all risk and/or difference-in-conditions coverage, and general comprehensive public liability insurance, is herein referred to as "Landlord. 's insurance cost." If Landlord's insurance cost for any calendar year shall exceed Eleven Thousand Eight Hundred Forty Two Dollars ($11,842.00) Tenant shall repair all damages caused pay 10,000/60,300 of such excess to Landlord upon demand as additional rent. For the calendar year during which the term of this Lease shall commence and terminate, Tenant shall pay a pro rata portion of such excess. The determination of Landlord's insurance agent with respect to the amount of any such excess shall be conclusive and finally determinative for purposes hereof. Nothing in this Section (B) shall be deemed to limit in any way the obligations of Tenant contained in this Lease with respect to the maintaining of any type of insurance whatsoever.
(C) Tenant shall not do, or suffer to be done, or keep, or suffer to be kept, or omit to do, anything in, upon or about the Demised Premises, the Building and/or the Entire Parcel which may prevent the obtaining of any insurance on, or with respect to the Demised Premises, the Building and/or the Entire Parcel or on any property therein, including, without limitation, fire, extended coverage, public liability insurance and any other insurance referred to in Section (A) hereof, or which may make void or voidable any such insurance or which may create any extra premiums for, or increase the rate of, any such insurance. If anything shall be done or kept or omitted to be done in, upon or about the Demised Premises which shall create any increased or extra premiums for or increase the rate of, any such insurance, then, in addition to all other rights and remedies which Landlord may have as a result thereof, Tenant shall pay the increased cost of the same to Landlord upon demand. In determining whether extra or increased premiums are the result of Tenant's use of the Demised Premises a Schedule issued by vandalism the organization making the rates applicable to the Demised Premises, or burglarya certificate of Landlord's insurance agent, showing the components of such rates, shall be conclusive evidence of the items and charges which comprise the rate of any such insurance and any increase therein and extra charge therefore.
Appears in 1 contract
Samples: Lease Agreement (A123 Systems Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises there is damaged by a fire or other casualty, but not so as Tenant shall give immediate notice to render Landlord. If the Premises untenantableare partially damaged by fire, the elements or other casualty, Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises be are so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises shall be are made tenantable by the Landlord. HoweverIf, ifhowever, in the opinion of the Landlord, the Premises be totally destroyed or are so extensively and substantially damaged as that Landlord decides not to require practically a rebuilding thereofrebuild, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from paid up to the time of such destruction and this Lease shall terminate as of the date of such destruction. The rent and any additional rent shall be apportioned as of the fire or other casualty until issuance of a certificate of occupancy termination date, and any rent paid for any period beyond that date shall be repaid to Tenant. However, the Premises, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the preceding provisions of this clause Paragraph 15 shall not become effective or be applicable, applicable if the fire or other casualty results from and damage are the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If Tenant is insured against any of the risks herein covered, then the proceeds of such insurance shall repair all damages caused be paid over to Landlord to the Premises by vandalism or burglaryextent of Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against Landlord for reimbursement.
Appears in 1 contract
Samples: Lease Agreement
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Premises untenantableLandlord. If the premises shall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises premises be so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated paid up to the time of such destruction and then, and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written notice lease shall come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence negligence, or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the The rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglary.Landlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement. 14th
Appears in 1 contract
Fire and Other Casualty. Tenant (a) If at any time during the Term, the Premises shall immediately notify Landlord of any be damaged in whole or in part or wholly or partially destroyed from fire or other casualty at the Premises. If the Premises is damaged by fire (including any casualty for which insurance coverage was not obtained) of any kind or other casualtynature, but not so as to render the Premises untenantableregardless of whether said damage or destruction resulted from an act of God, the Landlord fault of Tenant, Landlord, Overlandlord, or from any other cause whatsoever, Tenant promptly shall replace, repair and rebuild the same damaged or destroyed improvements and buildings, at least to the extent of the value of the improvements and buildings, and as speedily nearly practicable to the character of the buildings or improvements, existing immediately prior to such occurrence, herein referred to as practicable"Rebuilding". Such Rebuilding shall be in accordance with all applicable governmental requirements and in accordance with plans and specifications therefor which first shall be submitted to and approved by Landlord, but the Tenant’s obligation to pay the rent hereunder which approval shall not cease. If, in the opinion of the Landlord, the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises shall be made tenantable by the Landlord. However, if, in the opinion of the Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or unreasonably withheld.
(b) notify Tenant that Landlord intends All insurance proceeds paid pursuant to rebuild any policy of insurance on account of such destruction or damages, less the Premisescost, if any, incurred in which caseconnection with the adjustment of the loss and the collection thereof (herein sometimes referred to as the "insurance proceeds"), rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate this Lease by written notice applied to Landlord. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent cost of the Rebuilding, and shall be endorsed to and held by Landlord, in trust, and shall be paid out to or for the performance account of the Rebuilding from time to time as such work progresses, in accordance with usual lending institution procedures for funding of construction loans, provided Landlord reasonable determines that the insurance proceeds are sufficient to pay all costs and expenses related to the covenantsRebuilding. If said proceeds are insufficient, conditions then such proceeds shall not be paid out unless and terms hereof until Tenant shall satisfy Landlord that Tenant has sufficient funds to pay such deficit and such portion of the cost of Rebuilding shall have been paid for by Tenant so that the funds held by Landlord pursuant to this Paragraph 9(b) shall be sufficient to pay for the remaining cost of the Rebuilding. if Tenant shall fail to satisfy Landlord that it has sufficient funds to pay such deficit within twenty (20) days following receipt of insurance proceeds, Landlord at any time thereafter, until it shall be so satisfied, shall have the right to retain all insurance proceeds and to terminate this lease on not more than one (1) year's notice to Tenant.
(c) Upon Landlord's receipt of evidence reasonably satisfactory to it that the Rebuilding has been completed in accordance herewith and paid for in full and that there are no liens on the Tenant’s part Premises as a result thereof, Landlord shall pay to Tenant from said insurance proceeds, any remaining unreimbursed costs resulting from the Rebuilding. All excess funds shall be performed retained by Landlord.
(d) Under no circumstances shall continue and Landlord be obligated to make any payment, disbursement or contribution towards the cost of the Rebuilding except to the extent of the insurance proceeds actually received by the Landlord in accordance herewith.
(e) In the last year of the Term, Tenant shall have the option not to Rebuild in the event of a major casualty requiring the expenditure of more than One Hundred Thousand ($100,000.00) Dollars to complete the Rebuilding thereof, in which event, Landlord shall be entitled to all insurance proceeds, and Tenant shall remain liable to the Landlord for Rental payments for the damage and loss suffered by balance of the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglaryTerm.
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Fire and Other Casualty. Tenant If, during the term of this Lease, the said Leased Premises shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises is be so damaged by fire or other casualty, but not so as to render arising from the Premises untenantable, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion fault or negligence of the LandlordLessee or those in his employ, that the said Leased Premises shall thereby be so extensively and substantially damaged as to render it untenantablerendered unfit for use or occupancy, then the rent shall cease until such time as herein reserved, or a just and proportionate share thereof, according to the Premises shall be made tenantable by the Landlord. However, if, in the opinion nature and extent of the Landlorddamage which has been sustained, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from until said Leased Premises shall have been duly repaired and restored. If damage shall not be substantial, Lessor shall proceed to repair the date same with reasonable diligence. In case the Leased Premises or any part of the fire building of which the same are a part shall be substantially damaged, Lessor shall have the right to either repair or other casualty until issuance of a certificate of occupancy for restore the Premises, during which time Tenant Leased Premises and either Lessee or Lessor may terminate cancel this Lease by written notice to Landlord. In no event howeverand end the term thereof, shall the provisions and in case of this clause become effective or be applicablesuch cancellation, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the rent and any other monies due and owing to the performance Lessor shall be paid by the Lessee to the date Lessee vacates said Leased Premises, and all further obligations upon the part of all the covenants, conditions and terms hereof on the Tenant’s part to be performed either party hereto shall continue cease and the Tenant estate hereby created shall thereupon terminate, except that the Lessor shall repay to Lessee the security deposit, less any proper charges paid therefrom. For purposes of this Section Substantial Damage shall be liable defined as damage equal to more than thirty percent (30%) of the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglaryreplacement cost.
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Samples: Lease Agreement
Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. (A) If the Demised Premises is shall be damaged or destroyed by fire or other casualty, but then Tenant shall give notice thereof to Landlord, and except as hereinafter otherwise provided, Landlord shall, within reasonable time thereafter, repair or restore the Demised Premises to substantially the same condition the Demised Premises were in prior to such casualty. Notwithstanding the foregoing, Landlord shall not be obligated to spend for such repairs and restoration any amount in excess of such insurance proceeds, if any, as shall be paid to Landlord as the result of such damage or destruction, and subject to the prior rights thereto, if any, of any mortgagees. If the damage to the Demised Premises should be so extensive as to render the Premises untenantablewhole or any part of thereof untenable or unsuitable for use and occupancy by Tenant, the Landlord shall repair the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion a just proportion of the Landlordminimum rent, according to the Premises nature and extent of the injury to the Demised Premises, shall be so extensively and substantially damaged as to render it untenantable, then suspended or abated until occupancy the rent shall cease until such time as the Demised Premises shall be made tenantable by the Landlord. However, if, repaired or restored as provided in the opinion first sentence of this Section (A). It is agreed and understood that if during the term of this Lease either the Demised Premises or the Building shall be damaged or destroyed as aforesaid to the extent of twenty five percent (25%) or more of their insurable value, Landlord, the Premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant at its election may terminate the term of this Lease by written a notice to LandlordTenant within thirty (30) days after such damage or destruction. It is also agreed and understood that if during the last six (6) months of the term of this Lease the Demised Premises shall be damaged or destroyed as aforesaid to the extent of twenty five percent (25%) or more of their insurable value, Tenant at its election, may terminate the term of this Lease by a notice to Landlord within thirty (30) days after such damage or destruction. In no the event however, shall of any termination of the term of this Lease pursuant to the provisions of this clause become Article, the termination shall be effective or be applicable, if on the fire or other casualty results from fifteenth (15th) day after the carelessness, negligence or improper conduct giving of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successorsnotice of termination. In such case, the Tenant’s liability for the payment A just proportion of the minimum rent, according to the nature and extent of the injury to the Demised Premises, shall be suspended or abated until the time of termination, and minimum rent and shall be apportioned as of the performance time of all termination. If Landlord is required or elects to repair or restore the covenantsDemised Premises as hereinabove provided, conditions and terms hereof on the Tenant’s part to be performed shall continue and the then Tenant shall be liable resume its business therein. If Landlord shall not substantially complete repair and restoration of the Demised Premises to the extent required under this Section (A) on or before the one hundred eightieth (180th) day following the occurrence of such casualty ("the Deadline"), then the term of this Lease shall terminate upon the Deadline unless prior to the Deadline Tenant shall give notice to the Landlord for that Tenant then elects to continue the damage term of this Lease thereafter, and loss suffered if Tenant shall so elect then this sentence shall thereafter be void and of no further force or effect.
(B) Landlord shall maintain such fire and casualty insurance with respect to the Demised Premises as shall from time to time be required by the holder of a first mortgage upon the Entire Parcel. The cost to Landlord of any insurance which Landlord shall maintain with respect to the Demised Premises, the Building and/or the Entire Parcel, including, without limitation, fire, so-called extended coverage, rent insurance, agreed amount, inflation guard, all risk and/or difference-in-conditions coverage, and general comprehensive public liability insurance, is herein referred to as "Landlord. 's insurance cost." If Landlord's insurance cost for any calendar year shall exceed Eleven Thousand Eight Hundred Forty Two Dollars ($11,842.00) Tenant shall repair all damages caused pay 20,000/60,300 of such excess to Landlord upon demand as additional rent. For the calendar year during which the term of this Lease shall commence and terminate, Tenant shall pay a pro rata portion of such excess. The determination of Landlord's insurance agent with respect to the amount of any such excess shall be conclusive and finally determinative for purposes hereof. Nothing in this Section (B) shall be deemed to limit in any way the obligations of Tenant contained in this Lease with respect to the maintaining of any type of insurance whatsoever.
(C) Tenant shall not do, or suffer to be done, or keep, or suffer to be kept, or omit to do, anything in, upon or about the Demised Premises, the Building and/or the Entire Parcel which may prevent the obtaining of any insurance on, or with respect to the Demised Premises, the Building and/or the Entire Parcel or on any property therein, including, without limitation, fire, extended coverage, public liability insurance and any other insurance referred to in Section (A) hereof, or which may make void or voidable any such insurance or which may create any extra premiums for, or increase the rate of, any such insurance. If anything shall be done or kept or omitted to be done in, upon or about the Demised Premises which shall create any increased or extra premiums for or increase the rate of, any such increase, then, in addition to all other rights and remedies which Landlord may have as a result thereof, Tenant shall pay the increased cost of the same to Landlord upon demand. In determining whether extra or increased premiums are the result of Tenant's use of the Demised Premises a Schedule issued by vandalism the organization making the rates applicable to the Demised Premises, or burglarya certificate of Landlord's insurance agent, showing the components of such rates, shall be conclusive evidence of the items and charges which comprise the rate of any such insurance and any increase therein and extra charge therefore.
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Samples: Lease Agreement (A123 Systems Inc)
Fire and Other Casualty. Tenant shall immediately notify Landlord In case of any fire or other casualty at the Premises. If the Premises is damaged by fire or other casualty, but not so as the Tenant shall give immediate notice to render the Premises untenantableLandlord. If the premises shall be partially damaged by fire, the elements or other casualty, the Landlord shall repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall not cease. If, in the opinion of the Landlord, the Premises premises be so extensively and substantially damaged as to render it them untenantable, then the rent shall cease until such time as the Premises premises shall be made tenantable by the Landlord. However, if, if in the opinion of the Landlord, the Premises premises be totally destroyed or so extensively and substantially damaged as to require practically a rebuilding thereof, then Landlord shall either: (a) notify Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated paid up to the time of such destruction and then and from the date of the fire or other casualty until issuance of a certificate of occupancy for the Premises, during which time Tenant may terminate thenceforth this Lease by written notice lease shall come to Landlordan end. In no event however, shall the provisions of this clause become effective or be applicable, if the fire or other casualty results from and damage shall be the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused have been insured against any of the risks herein covered, then the proceeds of such insurance shall be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers shall have no recourse against the Landlord for reimbursement.
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Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. If the Premises there is damaged by a fire or other casualty, but not so as the Tenant will give immediate notice to render the Landlord. If the Premises untenantableare partially damaged by fire, the elements or other casualty, the Landlord shall will repair the same as speedily as practicable, but the Tenant’s 's obligation to pay the rent hereunder shall will not cease. If, in the opinion of the Landlordlandlord, the Premises be are so extensively and substantially damaged as to render it them untenantable, then the rent shall will cease until such time as the Premises shall be are made tenantable tenant able by the Landlord. HoweverIf, ifhowever, in the opinion of the Landlord, the Premises be totally destroyed or are so extensively and substantially damaged as that the Landlord decides not to require practically a rebuilding thereofrebuild, then Landlord shall either: (a) notify Tenant that the rent will be paid up to the time of such destruction and this Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild the Premises, in which case, rent shall be abated from will terminate as of the date of such destruction. The rent, and any additional rent, will be apportioned as of the fire or other casualty until issuance of a certificate of occupancy termination date, and any rent paid for any period beyond that date will be repaid to the PremisesTenant. However, during which time Tenant may terminate this Lease by written notice to Landlord. In no event however, shall the preceding provisions of this clause Paragraph 15 will not become effective or be applicable, applicable if the fire or other casualty results from and damage are the result of the carelessness, negligence or improper conduct of the Tenant or the Tenant’s 's agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s 's liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s 's part to be performed shall will continue and the Tenant shall will be liable to the Landlord for the damage and loss suffered by the Landlord. If the Tenant shall repair all damages caused is insured against any of the risks herein covered, then the proceeds of such insurance will be paid over to the Premises by vandalism or burglaryLandlord to the extent of the Landlord's costs and expenses to make the repairs hereunder, and such insurance carriers will have no recourse against the Landlord for reimbursement.
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Fire and Other Casualty. Tenant shall immediately notify Landlord of any fire or other casualty at the Premises. A. If the Premises is or the Building shall be damaged by fire or other casualtycasualty and if such damage does not render all or a substantial portion of the Premises or the Building untenantable, but not then Landlord shall proceed with reasonable promptness to repair and restore the Premises or the core and shell of the Building so as to render the Premises tenantable (other than work required to be performed by Tenant, as hereinafter provided, which may be necessary to so render the Premises tenantable), subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, and also subject to zoning laws and building codes then in effect. If any such damage renders all or a substantial portion of the Premises or the Building untenantable, Landlord shall, with reasonable promptness after the occurrence of such damage, estimate the length of time that will be required to substantially complete the repair and restoration of the Premises or the core and shell of the Building, as the case may be, necessitated by such damage and shall by notice advise Tenant of such estimate. If it is estimated that the amount of time required to substantially complete such repair and restoration will exceed two hundred seventy (270) days from the date such damage occurred, then either Landlord or Tenant (but Tenant shall have such right, only if all or a substantial portion of the Premises is rendered untenantable and the estimated time for Landlord required to substantially complete such repair or restoration will exceed such two hundred seventy (270) day period) shall have the right to terminate this Lease as of the date of notice of such election by giving notice to the other party at any time within twenty (20) days after Landlord gives Tenant the notice containing said estimate (it being understood that Landlord may, if it elects to do so, also give such notice of termination together with the notice containing said estimate). Unless this Lease is terminated as provided in the preceding sentence, Landlord shall proceed with reasonable promptness to repair and restore the same as speedily as practicable, but the Tenant’s obligation to pay the rent hereunder shall not cease. If, in the opinion core and shell of the Landlord, Building or the Premises be so extensively and substantially damaged as to render it untenantable, then the rent shall cease until such time as the Premises tenantable (excluding, however, any work required to be performed by Tenant, as hereinafter provided, which may be required to so render the Premises tenantable), subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, and also subject to zoning laws and building codes then in effect. Landlord shall have no liability to Tenant, and Tenant shall not be made tenantable entitled to terminate this Lease (except as hereinafter provided) if such repairs and restoration are not in fact completed within the time period estimated by the Landlord, as aforesaid, or within said two hundred seventy (270) days. However, if, in if such repairs and restoration are not completed within three hundred sixty-five (365) days after the opinion date of such fire or other casualty (or within ninety-five (95) days after the expiration of the Landlordtime period estimated by Landlord as aforesaid, if longer than two hundred seventy (270) days and neither party terminated the Premises lease as permitted), which three hundred sixty-five (365) day or other period shall be totally destroyed or so extensively and substantially damaged extended (as to require practically a rebuilding thereofTenant’s ability to terminate only) by all periods of delay attributable to the acts or omissions of Tenant or Tenant’s agents, employees or contractors, for any reason whatsoever, then either party may terminate this Lease, effective as of the date of notice of such election, by giving written notice to the other party within the thirty (30) day period after said three hundred sixty-five (365) day or other period or within one hundred twenty-five (125) days after said other period, as either time period may be so extended as aforesaid, but prior to substantial completion of repair or restoration. Notwithstanding anything to the contrary herein set forth: (i) Landlord shall either: (a) notify have no duty pursuant to this Section 7.1 to repair or restore any portion of improvements, additions or alterations made by or on behalf of Tenant that the Lease is terminated; or (b) notify Tenant that Landlord intends to rebuild in the Premises, including, without limitation, the Work; (ii) Landlord shall not be obligated (but may, at its option, so elect) to repair or restore the Premises or Building if the damage is due to an uninsurable casualty or if insurance proceeds are insufficient to pay for such repair or restoration, or if any mortgagee applies proceeds of insurance to reduce its loan balance, and the remaining proceeds, if any, available to Landlord are not sufficient to pay for such repair or restoration; (iii) Tenant shall not have the right to terminate this Lease pursuant to this Section 7.1 if the damage or destruction was caused by the intentional or negligent act of Tenant, its agents or employees; and (iv) if any such damage rendering all or a substantial portion of the Premises or Building untenantable shall occur during the last two (2) years of the Term, either party (but as to Tenant’s right, only if all or a substantial portion of the Premises is rendered untenantable) shall have the option to terminate this Lease by giving written notice to the other party within thirty (30) days after the date such damage occurred, and if such option is so exercised, this Lease shall terminate as of the date of such notice.
B. In the event any such fire or other casualty damage renders all or a portion of the Premises untenantable and if this Lease is not terminated pursuant to the foregoing provisions of this Section 7.1 by reason of such damage, then Base Rent and Additional Rent shall xxxxx during the period beginning with the date of such damage and ending with the date when Landlord substantially completes its repair or restoration required hereunder. Such abatement shall be in which casethe amount bearing the same ratio to the total amount of rent for such period as the portion of the Premises rendered untenantable and not occupied by or theretofore delivered to Tenant from time to time bears to the entire Premises. In the event of termination of this Lease pursuant to this Section 7.1, rent shall be abated from apportioned on a per diem basis and be paid to the date of termination.
C. In the event of any such fire or other casualty until issuance of a certificate of occupancy for the Premisescasualty, during which time Tenant may terminate and if this Lease by written notice is not terminated pursuant to Landlord. In no event however, shall the foregoing provisions of this clause become effective Section 7.1, Tenant shall, at its expense, promptly repair and restore any portion of alterations, additions or be applicableimprovements made by or on behalf of Tenant in the Premises (including, if the fire or other casualty results from the carelessness, negligence or improper conduct of the Tenant or the Tenant’s agents, employees, guests, contractors, licensees, invitees, subtenants, assignees or successors. In such casewithout limitation, the Tenant’s liability for the payment of the rent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed shall continue and the Tenant shall be liable to the Landlord for the damage and loss suffered by the Landlord. Tenant shall repair all damages caused to the Premises by vandalism or burglaryWork).
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