Common use of Fire and Other Casualty Clause in Contracts

Fire and Other Casualty. In the event the Demised Premises are damaged by fire or other casualty 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 only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 thereto.

Appears in 2 contracts

Samples: Industrial Lease Agreement (Dirtt Environmental Solutions LTD), Industrial Lease Agreement (Systemax Inc)

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Fire and Other Casualty. In the event the Demised Premises are damaged by case of fire or other casualty insured by Landlordaffecting the Demised Premises, Tenant shall give immediate notice to Landlord agrees or, in case of fire or other casualty affecting the Property other than the Demised Premises, Tenant shall give immediate notice to promptly restore and repair Landlord upon Tenant obtaining knowledge of such fire or casualty. If the Demised Premises at Landlord’s expenseshall be partially damaged by fire, including the Improvements to be insured by Tenantelements or other casualty, Landlord shall repair the same as speedily as practicable, but only Tenant’s obligation to pay the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the ImprovementsRent hereunder shall not cease. Notwithstanding the foregoingIf, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, the Demised Premises is so exten­sively and substantially damaged as to render them untenantable, then the Rent shall cease until such time as the Demised Premises shall be made tenantable by Landlord. However, if, in the opinion of Landlord, the Demised Premises is totally destroyed that they cannot or so extensively and substantially damaged as to require practically a rebuilding thereof, then the Rent shall be repaired or rebuilt within two hundred seventy (270) days after paid up to the date time of such damage; destruction and then and from thenceforth this Lease shall automatically and without notice come to an end. In no event however, shall the provisions of this clause become effective or (ii) destroyed by a be applicable, if the fire or other casualty which is not covered and damage shall be the result of the carelessness, negligence or improper conduct of Tenant or Tenant’s agents, employees, guests, licensees, invitees, subtenants, assignees or successors. In such case, Tenant’s liability for the payment of the Rent and the performance of all the cov­enants, conditions and terms hereof on Tenant’s part to be performed shall continue and Tenant shall be liable to Landlord for the damage and loss suffered by Landlord’s insurance. If Tenant shall have been insured against any of the risks herein covered, or if then the proceeds of such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available shall be paid over to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 Landlord’s costs and expenses to make the available repairs hereunder, and such 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent carriers shall proportionately xxxxx during the time that the Demised Premises or any part thereof are unusable by reason of any such damage theretohave no recourse against Landlord for reimbursement.

Appears in 2 contracts

Samples: Lease Agreement (Insmed Inc), Lease Agreement (Tamir Biotechnology, Inc.)

Fire and Other Casualty. A. In the event of a fire or other casualty in the Demised Leased Premises, Tenant shall immediately give notice thereof to Landlord. If the Leased Premises are damaged shall be partially destroyed by fire or other casualty insured so as to render the Leased Premises untenantable in whole or in part, Rent shall xxxxx thereafter as to the portion of the Leased Premises rendered untenantable until such time as the Leased Premises are made tenantable as reasonably determined by Landlord, Landlord and Landlord agrees to commence and prosecute such repair work promptly restore and repair the Demised Premises at Landlord’s expensewith all due diligence; provided, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoinghowever, in the event that the Demised Premises are such destruction (i) results in total or substantial damages to or destruction of the reasonable opinion of Landlord, so destroyed that they canBuilding and Landlord shall decide not be repaired or rebuilt within two hundred seventy (270) days after the date of such damage; to rebuild or (ii) destroyed results in the Leased Premises being untenantable in whole or in substantial part and the reasonable estimation of a responsible contractor selected by a casualty which is not covered by Landlord’s insurance, Landlord as to the amount of time necessary to rebuild or if restore such casualty is covered by Landlord’s insurance but Lender or destruction to the Leased Premises and all other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration portions of the Demised PremisesBuilding exceeds six (6) months from the time such work is commenced, then in either event, Landlord shall have a right to terminate this Lease Agreement effective as of the date of casualty or destruction, and upon such termination, all Rent owed up to the time of such destruction or termination shall be paid by Tenant. Subject to reasonable delays for insurance adjustments, Landlord shall give Tenant written notice to Tenant of such determination (the “Determination Notice”) its decisions, estimates or elections under this Section 13 within sixty (60) days after any such damage or destruction. If any portion of Rent is abated under this Section 13, Landlord may elect to extend the expiration date of the Term of this Lease Agreement for the period of the abatement. Notwithstanding any provision herein to the contrary, if such casualty. Either Landlord casualty to the Leased Premises occurs during the last 12 months of the Term, or the repairs required will, in the reasonable estimation of the contractor selected by Landlord, take twelve (12) months or longer to repair, Tenant may terminate and cancel this Lease Agreement by delivering written notice to Landlord within thirty (30) days of Landlord’s delivery to Tenant of the estimation of the time period necessary to make the repairs, such termination to be effective as of the date of casualty or destruction, and upon such casualty by giving written notice termination, all Rent owed up to the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving time of such termination notice, all obligations hereunder with respect to periods from and after the effective date of destruction or 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 be paid by 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 thereto.

Appears in 2 contracts

Samples: Lease Agreement (Bellicum Pharmaceuticals, Inc), Lease Agreement (Bellicum Pharmaceuticals, Inc)

Fire and Other Casualty. In the event the Demised Premises are damaged by If there is a fire or other casualty insured casualty, the Tenant will give immediate notice to the Landlord. If the Premises are partially damaged by fire, the elements, or other casualty, the Landlord will repair the same as speedily as practicable, and the Tenant’s obligation to pay the rent hereunder will cease prorate based on the portion not usable by the Tenant, If in the opinion of the Landlord, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) so substantially damaged as to render them untenantable, then the rent will cease until such time as the Premises are made tenantable by the Landlord. If, however, in the reasonable opinion of the Landlord, the Premises are so destroyed substantially damaged that they cannot be repaired or rebuilt within two hundred seventy (270) it will require more than 60 days after the 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 insurance proceeds fails to make such proceeds available the Premises tenantable or the Landlord decides not to Landlord in an amount sufficient for restoration of the Demised Premisesrebuild, then Landlord shall give written notice to Tenant of such determination (either the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord landlord or the Tenant may terminate and cancel this the Lease effective as of the date of such casualty by giving written notice destruction and the rent will be paid up to the time of such destruction. The rent, and any additional rent, will be apportioned us of the termination date, and any rent paid for any period beyond that date will be repaid to the Tenant. However, the preceding provisions of this Paragraph 15 will not become effective or be applicable if the fire or other party within thirty (30) days after casualty and damage are the result of the gross negligence or willful misconduct of the Tenant or the Tenant’s receipt agents, employees, guests, licensees, invitees, subtenants, assignees or successors. In such case, the Tenant’s liability for the payment of the Determination Noticerent and the performance of all the covenants, conditions and terms hereof on the Tenant’s part to be performed will continue and the Tenant will be liable to the Landlord for the damage and loss suffered by the Landlord. Upon If the giving Tenant is insured against any of the risks herein covered, then the proceeds of such termination notice, all obligations hereunder with respect insurance will be paid over 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 Landlord’s costs and expenses to make the repairs hereunder, and such insurance proceeds, make such repair or restoration of carriers will have no recourse against 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 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 theretoLandlord for reimbursement.

Appears in 2 contracts

Samples: Lease Agreement (Zynerba Pharmeceuticals, Inc.), Lease Agreement (Zynerba Pharmeceuticals, Inc.)

Fire and Other Casualty. In the event the Demised Premises are damaged by fire or other casualty insured by Landlordcasualty, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s 's expense, including the Improvements to be insured by Tenant, Tenant but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the ImprovementsImprovements (provided that Landlord shall be responsible for any deductible under Landlord's insurance policies). Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy ninety (27090) days after the 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 's insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised PremisesPremises reasonably acceptable to Tenant, then Landlord shall give written notice to Tenant of such determination (the "Determination Notice") within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s 's receipt of the 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 '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 thereto.

Appears in 2 contracts

Samples: Industrial Lease Agreement (Daisytek International Corporation /De/), Industrial Lease Agreement (Pfsweb Inc)

Fire and Other Casualty. A. In the event of a fire or other casualty in the Demised Leased Premises, Tenant shall immediately give notice thereof to Landlord. If the Leased Premises are damaged shall be partially destroyed by fire or other casualty insured so as to render the Leased Premises untenantable in whole or in part. Rent shall xxxxx thereafter as to the portion of the Leased Premises rendered untenantable until such time as the Leased Premises are made tenantable as reasonably determined by Landlord, Landlord and Landlord agrees to commence and prosecute such repair work promptly restore and repair the Demised Premises at Landlord’s expensewith all due diligence; provided, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoinghowever, in the event that the Demised Premises are such destruction (i) results in total or substantial damages to or destruction of the reasonable opinion of Landlord, so destroyed that they canBuilding and Landlord shall decide not be repaired or rebuilt within two hundred seventy (270) days after the date of such damage; to rebuild or (ii) destroyed results in the Leased Premises being untenantable in whole or in substantial part and the reasonable estimation of a responsible contractor selected by a casualty which is not covered by Landlord’s insurance, Landlord as to the amount of time necessary to rebuild or if restore such casualty is covered by Landlord’s insurance but Lender or destruction to the Leased Premises and all other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration portions of the Demised PremisesBuilding exceeds six (6) months from the time such work is commenced, then in either event, Landlord shall have a right to terminate this Lease Agreement effective as of the date of casualty or destruction, and upon such termination, all Rent owed up to the time of such destruction or termination shall be paid by Tenant. Subject to reasonable delays for insurance adjustments, Landlord shall give Tenant written notice to Tenant of such determination (the “Determination Notice”) its decisions, estimates or elections under this Section 13 within sixty (60) days after any such damage or destruction. If any portion of Rent is abated under this Section 13, Landlord may elect to extend the expiration date of the Term of this Lease Agreement for the period of the abatement. Notwithstanding any provision herein to the contrary, if such casualty. Either Landlord casualty to the Leased Premises occurs during the last 12 months of the Term, or the repairs required will, in the reasonable estimation of the contractor selected by Landlord, take twelve (12) months or longer to repair, Tenant may terminate and cancel this Lease Agreement by delivering written notice to Landlord within thirty (30) days of Landlord’s delivery to Tenant of the estimation of the time period necessary to make the repairs, such termination to be effective as of the date of casualty or destruction, and upon such casualty by giving written notice termination, all Rent owed up to the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving time of such termination notice, all obligations hereunder with respect to periods from and after the effective date of destruction or 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 be paid by 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 thereto.

Appears in 2 contracts

Samples: Lease Agreement (Bellicum Pharmaceuticals, Inc), Lease Agreement (Bellicum Pharmaceuticals, Inc)

Fire and Other Casualty. In If the event Premises shall be damaged by fire or other casualty, other than as a result of the Demised gross negligence or willful misconduct of Tenant, this Lease shall not terminate and, upon adjustment of insurance claims, Landlord shall repair the damage, provided that Landlord shall have no obligation to repair damage to or replace Tenant’s Personal Property. 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 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 casualty (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 termination of this Lease, 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 notice, 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 the other of them, which notice shall be given 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 insured by Landlord, due to the gross negligence or willful misconduct of Tenant: (i) Landlord agrees shall have no obligation to promptly restore and repair the Demised Premises or the Building, (ii) this Lease shall, at Landlord’s expenseoption, including the Improvements to be insured by Tenantnot terminate, but only to the extent and (iii) Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds may pursue any legal and equitable remedies available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 theretoit.

Appears in 2 contracts

Samples: Evolent Health, Inc., Evolent Health, Inc.

Fire and Other Casualty. In the event the Demised Premises are damaged by fire or other casualty insured by Landlordcasualty, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s 's expense, including the Improvements to be insured by Tenant, Tenant but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the ImprovementsImprovements (provided that Landlord shall be responsible for any deductible under Landlord's insurance policies). Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy ninety (27090) days after the 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 's insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised PremisesPremises reasonably acceptable to Tenant, then Landlord shall give written notice to Tenant of such determination (the "Determination Notice") within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s 's receipt of the 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 '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 abatx xxxing the time that the Demised Premises or any part thereof are unusable by reason of any such damage thereto.

Appears in 2 contracts

Samples: Industrial Lease Agreement (Pfsweb Inc), Industrial Lease Agreement (Daisytek International Corporation /De/)

Fire and Other Casualty. In If the event Premises shall be damaged by fire or other casualty, other than as a result of the Demised negligence or misconduct of Tenant, this Lease shall not terminate and, upon adjustment of insurance claims, Landlord shall repair the damage to the condition existing on the Delivery Date, provided that Landlord shall have no obligation to repair damage to or replace Tenant's Personal Property or Installations (as defined above). 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. Tenant, at its expense, shall promptly perform, subject to delays arising from the collection of insurance proceeds, Unavoidable Delay or obtaining approval from any applicable governmental authority having jurisdiction over Hazardous Materials to restore the Premises (“Hazardous Material Clearances”), all repairs or restoration not required to be done by Landlord and shall promptly re-enter the Premises and commence doing business in accordance with this Lease. Provided Tenant fully and promptly cooperates with Landlord, following written or verbal notice to Tenant, with all reasonable procedures Landlord deems necessary for Landlord to obtain such Hazardous Materials Clearances, Rent shall be abated from the date of such casualty until the Premises are repaired and restored, in the proportion which the area of the Premises, if any, which is not usable by Tenant bears to the total area of the Premises, unless Landlord provides Tenant with other space during the period of repair that is suitable for the temporary conduct of Tenant’s business. Such abatement shall be the sole remedy of Tenant and Tenant waives any right to terminate this Lease by reason of damage or casualty loss. If Tenant fails to cooperate as described herein, neither Base Rent nor Additional Rent shall be abated until the date upon which Landlord is able to obtain such Hazardous Materials Clearances. Notwithstanding anything herein to the contrary, if (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 casualty (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 termination of this Lease, 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 notice, 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. Notwithstanding anything herein to the contrary, if Landlord estimates 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, and all or a substantial portion of the Premises will not be tenantable during such period, then Tenant may terminate this Lease by written notice to Landlord, which notice shall be given by Tenant, if at all, within ten (10) days following the date of such 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, and all or a substantial portion of the Premises is not tenantable as a result of the casualty, Tenant may terminate this Lease by written notice to Landlord, which notice shall be given by Tenant, if at all, within ten (10) days following such two hundred seventieth (270th) day, but in any event prior to Landlord’s delivery of the Premises to Tenant with the restoration of the Premises substantially complete. If the Premises or the Building shall be damaged by fire or other casualty 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 only due to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are negligence or misconduct of Tenant: (i) in the reasonable opinion of Landlord, so destroyed that they canTenant shall not be repaired or rebuilt within two hundred seventy (270) days after permitted to terminate this Lease pursuant to the date of such damage; or immediately preceding paragraph, (ii) destroyed by a casualty which is Landlord shall have no obligation to repair the Premises or the Building, (iii) this Lease shall, at Landlord's option, not covered by Landlord’s insuranceterminate, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds (iv) Landlord may at Tenant's expense repair the damage, and (v) Landlord may pursue any legal and equitable remedies available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 theretoit.

Appears in 2 contracts

Samples: Office Lease (Cellular Biomedicine Group, Inc.), Office Lease (Cellular Biomedicine Group, Inc.)

Fire and Other Casualty. In the event the Demised Premises are damaged by fire or other casualty insured by Landlord9.1 (A) If, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination notice, all obligations hereunder with respect to periods any time from and after the effective date of termination shall thereupon cease and terminate. If no such termination notice is givenCommencement Date, 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 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 shall be damaged or destroyed by reason fire, the elements or other casualty for which insurance is required to be carried by Tenant as hereinafter provided, then, except as provided in Section 9.2 hereof, Tenant shall, promptly thereafter, repair or restore the Demised Premises to substantially the same condition they were in immediately prior to such casualty, and Tenant shall not be entitled to any rent abatement with respect thereto. All insurance proceeds or damages recovered on account of any damage or destruction by fire, the elements or other casualty shall be made available for the payment of the cost of the aforesaid repair or restoration. If the amount of said insurance proceeds shall be less than Two Hundred Fifty Thousand Dollars ($250,000), said insurance proceeds shall be paid over to Tenant. If the amount of said insurance proceeds shall be greater than Two Hundred Fifty Thousand Dollars ($250,000), said insurance proceeds shall be deposited in escrow with instructions to the escrow holder that the escrow holder shall disburse the same to Tenant as the work of repair or restoration progresses upon certificates of the architect or engineer supervising the repair or restoration that the disbursements then requested, plus all previous disbursements made from said insurance proceeds, plus the amount of such damage thereto"deductible", do not exceed the cost of the repair or restoration already completed and paid for, and the balance in the escrow fund is sufficient to pay for the estimated cost of completing the repair and restoration. The escrow holder shall be the institutional lender holding a first mortgage upon the Demised Premises or the property of which the Demised Premises are a part if there shall be an institutional lender holding such first mortgage and if such institutional lender shall be willing to accept said escrow; otherwise the escrow holder shall be any bank mutually agreeable to Landlord and Tenant. If the insurance proceeds shall be less than the cost of repair or restoration, Tenant shall pay the excess cost and Tenant shall be responsible for the amount of any deductibles. If the insurance proceeds shall be greater than the cost of repair or restoration, the excess shall belong to the Tenant.

Appears in 2 contracts

Samples: Agreement (Basic Us Reit Inc), Agreement (Basic Us Reit Inc)

Fire and Other Casualty. In If the event Premises shall be damaged by fire or other casualty, other than as a result of the Demised negligence or misconduct of Tenant, the Lease shall not terminate and, upon adjustment of insurance claims, Landlord shall repair the damage, provided that Landlord shall have no obligation to repair damage to or replace Tenant’s Personal Property. Except as otherwise provided herein, if any part of the Premises are rendered untenantable by reason of any such damage, Rent shall axxxx 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, 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, 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 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. If the Premises or the Building shall be damaged by fire or other casualty insured by Landlord, due to the negligence or misconduct of Tenant: (i) Landlord agrees shall have no obligation to promptly restore and repair the Demised Premises or the Building, (ii) this Lease shall, at Landlord’s expenseoption, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 thereto.,

Appears in 1 contract

Samples: Office Lease (Global Secure Corp.)

Fire and Other Casualty. In (a) If the event Building or other improvements on the Demised Premises are Land shall be damaged or destroyed by fire or other casualty insured by casualty, 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 Lender (if applicable) and of Landlord) and arrange for the disbursement of insurance proceeds, Landlord agrees and repair, rebuild or replace such Building and other improvements, so as to promptly restore and repair the Demised Premises at Landlord’s expenseto 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 Lender (provided that such Lender is a bank, including savings association, insurance company or other similar institutional lender; herein called "Institutional Lender"), or, if no Lender then holds a Mortgage on the Improvements Demised Premises, by any national or state chartered bank which is reasonably acceptable to Landlord and Tenant; and the Net Insurance Proceeds shall be insured by released for the purpose of paying the fair and reasonable cost of restoring such Building and other improvements. Such Net Insurance Proceeds shall be released to Tenant, but only or to Tenant's contractors, from time to time as the extent work progresses, pursuant to such requirements and limitations as may be reasonably acceptable to Landlord receives insurance proceeds thereforand Lender (if the Lender so requires), including including, without limitation, lien waivers from each of the proceeds from contractors, subcontractors, materialmen and suppliers performing the insurance required work. If the Net Insurance Proceeds (less any applicable deductible) are insufficient to restore the Demised Premises, Tenant shall be carried by Tenant on obligated to pay such deficiency and the Improvementsamount of any such deductible. Notwithstanding the foregoing, in if the event that Net Insurance Proceeds are less than Twenty-Five Thousand Dollars ($25,000.00), such Net Insurance Proceeds may be held by Tenant and used by Tenant to pay the fair and reasonable cost of restoring such Demised Premises are (i) in and other improvements. If the reasonable opinion Net Insurance Proceeds exceed the full cost of Landlordthe repair, so destroyed that they cannot be repaired rebuilding or rebuilt within two hundred seventy (270) days after replacement of the date damaged Building or other improvements, then the amount 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord excess Net Insurance Proceeds shall give written notice be paid to Tenant upon the completion of such determination (the “Determination Notice”) within sixty (60) days of such casualtyrepair, rebuilding or replacement. Either Landlord agrees not unreasonably to withhold, condition or delay any approvals required to be obtained by Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice from Landlord pursuant to the other party within thirty (30) days after Tenant’s receipt provisions of the 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premisesthis Section 20(a). 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 thereto.

Appears in 1 contract

Samples: Industrial Lease Agreement (Systemax Inc)

Fire and Other Casualty. In 9. (a) if the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damage thereto shall be repaired by and at the expense of Owner and the rent and other items of additional rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty 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 only according to the extent Landlord receives insurance proceeds thereforpart of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by fire or other casualty, including then the proceeds from rent and other items of additional rent as hereinafter expressly provided shall be proportionately paid up to the insurance required to be carried time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner (or sooner reoccupied in part by Tenant on then rent shall be apportioned as provided in subsection (b) above) subject to Owner's right to elect not to restore the Improvementssame as hereinafter provided. Notwithstanding (d) If the foregoingdemised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, then, in the event that the Demised Premises are (i) in the reasonable opinion of Landlordany such events, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the date of such damage; or (ii) destroyed Owner may elect to terminate this lease 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of Tenant, given within 90 days after such determination (the “Determination Notice”) within sixty (60) fire or casualty, or 30 days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as after adjustment of the insurance claim for such fire or casualty, whichever is sooner, specifying a date for the expiration of such casualty by giving written notice to the other party within thirty (30) lease, which date shall not be more than 60 days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Owner's rights and remedies against Tenant under the lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all obligations hereunder reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. (e) Nothing contained hereinabove shall relieve Tenant from liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing including Owner's obligation to restore under subparagraph (b) above, each party shall look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Owner and Tenant each hereby releases and waives all right of recovery with respect to periods from subparagraph (b), (d) and after (e) above, against the effective date other or any one claiming through or under each of termination them by way of subrogation or otherwise. The release and waiver herein referred shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, be deemed to include any loss or damage to the extent demise premises and/or to any personal property, equipment, trade fixtures, goods and merchandise located therein. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefitting from the waiver shall pay such premium within ten days after written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the provisions hereof with respect to waiver of subrogation. Tenant acknowledges that Owner will not carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenances removable by Tenant and agrees that Owner will not be obligated to repair any damage thereto or replace the same. (f) Tenant hereby waives the provisions of Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Fania Entertainment Group LTD

Fire and Other Casualty. 9. (a) If the demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, Owner shall notify Tenant of its intention to restore said damage which shall be repaired by and at the expense of Owner and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by fire or other casualty, then the rent shall be proportionately paid up to the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner, subject to Owner's right to elect not to restore the same as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, then, in any of such events, Owner may elect to terminate this lease by written notice to Tenant, given within 90 days after such fire or casualty, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Landlord's rights and remedies against Tenant under the lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Owner's reasonable control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume ten (10) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. In the event (i) the Demised Premises are demised premises shall be damaged by fire or other casualty insured during the term and Tenant shall be unable to use the demised premises as a result of such damage and (ii) Owner shall not exercise the right to terminate this Lease and shall, accordingly, be obligated to repair any such damage pursuant to the provisions hereof, and (iii) Owner shall have failed to repair such damage within six (6) months after the date of such fire or other casualty, as such period shall be extended by Landlordthe number of days that Owner is delayed in completing such restoration by any cause or factor beyond Owner's reasonable control, Landlord agrees including, but not limited to, Tenant's failure to promptly restore cooperate with Owner, strikes or other labor disputes, accidents, orders or regulations of any Federal, State, County or Municipal Authority, delays due to adjustment of insurance claims, lack of availability of materials, parts or utility services, acts of God, fire, earthquake, floods, explosion, action of the elements, war, hostilities, invasion, insurrection, riot, mob violence, sabotage, or by reason of any other cause, whether similar or not to the foregoing, that is beyond the reasonable control of Owner, (such six (6) month period as so extended is referred to as the "Restoration Period"), then, in such event, Tenant shall have a one time option to give the Owner, within ten (10) days next following the expiration of the Restoration Period, time being of the essence, a thirty (30) day notice of termination of this Lease and repair upon the Demised Premises at Landlord’s expenseexpiration of said thirty (30) days, this Lease and the term thereunder shall end and expire as fully and completely as if the expiration of such thirty (30) day period were the day herein definitely fixed for the end and expiration of this Lease and the term thereof and Tenant shall then quit and surrender the demised premises to Owner but Tenant shall remain liable through and including the Improvements date of such damage as provided in this Lease. Failure of Tenant to timely deliver a thirty (30) day notice of termination shall be conclusively deemed to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried an express election by Tenant on to waive Tenant's right to terminate the ImprovementsLease as provided in this Article 9. (e) Nothing contained hereinabove shall relieve Tenant from liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Owner and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both relessors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefiting from the waiver shall pay such premium within thirty (30) ten days after Tenant’s receipt written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the Determination Notice. Upon the giving of such termination notice, all obligations hereunder provisions hereof with respect to periods from and after the effective date waiver of termination shall thereupon cease and terminatesubrogation. If no such termination notice is given, Landlord shall, to the extent of the available Tenant acknowledges that Owner will not carry 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 on 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 's furniture and/or furnishings or any part thereof are unusable fixtures or equipment, improvements, or appurtenances removable by reason of Tenant and agrees that Owner will not be obligated to repair any such damage theretothereto or replace the same.

Appears in 1 contract

Samples: Office Lease (Ibah Inc)

Fire and Other Casualty. In (a) If the event the Demised Premises are premises shall be damaged by fire fire, action of the elements or other casualty insured or cause which is within the risks covered by insurance carried by the Landlord, Landlord agrees The Tenant shall give immediate notice thereof to promptly restore the Landlord, and repair said damage shall be repaired by the Demised Premises Landlord, at the Landlord’s expense, including with all reasonable speed, making due allowance for delay due to labor trouble, settlements of loss and other causes beyond the Improvements control of the Landlord, and the Tenant shall remove its property so as to facilitate the making of such repairs, and the rent shall be insured suspended during such period as the premises shall 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 Tenant, but only to the extent Landlord receives insurance proceeds therefor, including Tenant for the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoingconduct of its business) and, in the event that the Demised Premises premises are rendered partially untenantable, the 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. 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) in If the reasonable opinion of 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, so destroyed that they cannot be repaired or rebuilt may at any time within two one hundred seventy twenty (270120) days after following the date occurrence of such damagethe damage give to the Tenant thirty (30) days notice of intention to terminate this lease; or (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 by a casualty which is or substantially damaged and the landlord does not covered by within 60 days following the occurrence of the damage notify the Tenant of the Landlord’s insurance, or if such casualty is covered intention to repair the damage to the premises so that the premises are again useable by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration the Tenant within a period of not more than 180 days following the occurrence of the Demised Premisesdamage 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 Landlord shall give written notice to Tenant of such determination (upon the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may date for terminate and cancel this Lease effective the rent shall be apportioned as of the date of the damage or as of such casualty by giving written notice 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 party within thirty (30) days after property remaining the property of the Tenant. The Tenant acknowledges that the landlord will not carry insurance on the Tenant’s receipt 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 Sections 227 of the Determination Notice. Upon the giving of such termination notice, all obligations hereunder with respect to periods from Real Property Law 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 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 Agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis Article SIXTEEN shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Lease (Inuvo, Inc.)

Fire and Other Casualty. In If the event Leased Premises, including the Demised Premises buildings and improvements, are substantially damaged by fire or other casualty insured casualty, cause, condition or thing whatsoever (the "Casualty"), and Lessor elects not to restore the Leased Premises, then Lessor may terminate this Lease by Landlord, Landlord agrees notice to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are Lessee given within ninety (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (27090) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination Casualty (the “Determination Notice”) within sixty (60) days of such casualty"Casualty Date"). Either Landlord or Tenant may terminate and cancel this Lease Such termination shall become effective as of the Casualty Date if the Leased Premises are untenantable, or as of a date ninety (90) days following the service of such casualty notice of lease termination if the Leased Premises are not untenantable. Unless the Lease is terminated as hereinabove provided, Lessor shall restore all damaged portions of the Leased Premises within 1 80 days following the Casualty Date unless the Lessee exercises it right to terminate, provided below, except for Lessee Improvements, which shall be restored by giving written and at the expense of Lessee. If the Leased Premises are made partially or wholly untenantable as a result of Casualty, and if Lessor fails, within one hundred eighty (180) days after the Casualty Date, to substantially restore the Leased Premises, either Lessor or Lessee may terminate this Lease as of the end of said one hundred eighty (180) days by notice to the other party given not later than thirty (30) days after the expiration of said one hundred eighty (180)-day period. In the event of termination of this Lease pursuant to this article, rental at the then current rate shall be pro-rated on a per diem basis and paid only to the effective date of such termination. If all of the Leased Premises are untenantable but this Lease is not terminated, all rent shall xxxxx from the Casualty Date until the Leased Premises are substantially restored and reasonably accessible for occupancy by Lessee. If part of the Leased Premises are untenantable, rent shall abated on a per diem basis in proportion to the percentage of the building and other improvements of the Leased Premises (excluding all parking, pedestrian or loading areas) which are rendered unusable by Lessee until the damaged part is ready for Lessee's occupancy. In all cases, due allowance shall be made for reasonable delay caused by adjustment of insurance loss, strikes, labor difficulties or any cause beyond Lessor's reasonable control. Lessor shall have no duty to repair, restore or replace Lessee Improvements. If at any time during the term of this Lease 50% or more of the rentable area of the Leased Premises is rendered untenantable by a Casualty, or if, during the last twelve months of the term of this Lease, 10% or more of the rentable area of the Leased Premises is rendered untenantable by Casualty, Lessee shall have the right to terminate this Lease upon written notice to Lessor given within thirty (30) days after Tenant’s receipt of following the 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 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 theretoCasualty Date.

Appears in 1 contract

Samples: Real Estate Lease (Analytical Surveys Inc)

Fire and Other Casualty. (a) In the event the Demised Premises are damaged by fire or other casualty insured (or required to be insured) by Landlord, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expense, expense (not including the Improvements to be insured by Tenant, but only which must be restored by Tenant in the manner hereinafter described in this Section 20) to the condition in which the Demised Premises existed on the Lease Date (ordinary wear and tear excepted), to the extent Landlord receives insurance proceeds therefor, including provided, that Landlord shall, at its expense, pay (i) the proceeds from full amount of the insurance required deductible under the policy provided by Landlord in accordance with this Lease and (ii) any cost to be carried repair or restore footings or foundation damaged by Tenant on the Improvementscasualty (collectively, the “Landlord Contribution”). Notwithstanding the foregoing, in the event that the Demised Premises are (i) are, in the reasonable opinion of Landlord’s architect (subject to Tenant’s rights set forth in Section 20(b) below), so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 givengiven or if restoration and repair can be completed within two hundred seventy (270) days, then Landlord shall, to the extent of the available insurance proceedsproceeds (plus payment of the Landlord Contribution), make such the repair or restoration of the Demised Premises to the approximate condition existing prior to such casualtyrequired of Landlord by this Section 20, 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). If Landlord is required under the provisions of this Section 20 to restore the Demised Premises after a casualty, Tenant shall be obligated to perform all work required to restore the Improvements and any Tenant’s Change made by Tenant to the Demised Premises to the extent of the available insurance proceeds related thereto, plus the full amount of the deductible under the policy provided by Tenant in accordance with this Lease; provided that Tenant will have the right, at the sole option of Tenant, in lieu of restoring the Improvements, to construct leasehold improvements in a manner such that the Demised Premises will be comprised of approximately 3000 square feet of office space (including HVAC), with a level of finish and configuration consistent with warehouse/distribution use, and based on plans and specifications reasonably acceptable to Landlord, and the warehouse area (and the demising wall, if affected by the casualty) will be restored to a level of finish the same as existed on the Lease Date, including the same lighting, HVAC and mechanical systems. 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 thereto. LANDLORD SHALL OBTAIN AN AGREEMENT FROM ITS LENDER OR ANY OTHER PARTY ENTITLED TO LANDLORD’S PROPERTY INSURANCE PROCEEDS THAT THE TERMS AND CONDITIONS OF THIS SECTION SHALL GOVERN AND BE BINDING ON LENDER (OR ANY OTHER PARTY ENTITLED TO LANDLORD’S PROPERTY INSURANCE PROCEEDS) IN THE EVENT OF A CASUALTY. TENANT SHALL OBTAIN AN AGREEMENT FROM ANY LENDER OR ANY OTHER PARTY ENTITLED TO TENANT’S PROPERTY INSURANCE PROCEEDS THAT THE TERMS AND CONDITIONS OF THIS SECTION SHALL GOVERN AND BE BINDING ON SUCH LENDER (OR ANY OTHER PARTY ENTITLED TO TENANT’S PROPERTY INSURANCE PROCEEDS) IN THE EVENT OF A CASUALTY.

Appears in 1 contract

Samples: Industrial Lease Agreement (Elevance Renewable Sciences, Inc.)

Fire and Other Casualty. In the event the Demised Premises are If any Improvement or any Personal Property shall be damaged or destroyed by fire or other casualty insured by Landlordcasualty, Landlord agrees then, irrespective of the cause and whether or not such damage or destruction shall have been insured, Lessee shall give prompt written notice thereof to promptly restore Lessor, and repair 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; provided, however, that insurance proceeds shall be made available for such restoration and rebuilding. If, as a result of the Demised Premises at Landlord’s expenseactions of any Fee Mortgagee or otherwise, including the Improvements to be insured by Tenant, but only insurance proceeds are not made available to the extent Landlord receives Lessor, and if the Lessor is unable after reasonable diligent efforts to secure and provide replacement funds, the Lessee shall have the right to terminate this Lease without further liability on the part of Lessee or Lessor unless the unavailability of such insurance proceeds thereforis 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, including the proceeds from the insurance required or fail in any other respect to be carried by Tenant on the Improvements. Notwithstanding the foregoingprosecute such work of demolition, in the event that the Demised Premises are 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 (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (27020) days after such notice, then Lessee, in addition to all other rights which Lessee may have, including, without limitation, the date of such damage; or (ii) destroyed by a casualty which is not covered by Landlord’s insuranceright to cancel and terminate this Lease, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of may enter upon the Demised Premises, then Landlord provide labor and/or materials, cause the performance of any contract, and/or do such other acts and things as Lessee may deem advisable to prosecute such work. All costs and expenses incurred by Lessee in carrying out such work shall give written notice be borne by Lessor and shall be payable by Lessor to Tenant of Lessee upon demand, which demand may be made by Lessee from time to time as such determination (the “Determination Notice”) within sixty (60) days of such casualtycosts and expenses are incurred, in addition to any and all damages to which Lessee shall be entitled hereunder. Either Landlord or Tenant may terminate and cancel this Lease effective Rent shall xxxxx hereunder as of the date of such casualty by giving written notice damage or destruction in proportion to the other party within thirty (30) days after Tenant’s receipt of the 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 percentage of the Demised Premises to the approximate condition existing prior to such casualty, promptly and thereby rendered unusable (in Lessee's sole opinion). Lessor shall in such manner as not event look solely to unreasonably interfere with Tenant’s use and occupancy proceeds of the Demised Premises its insurance (if Tenant is still occupying the Demised Premisesincluding its loss of rents coverage). Base Rent and Additional Rent shall proportionately xxxxx during the time that the Demised Premises or any part thereof are unusable Any proceeds of loss of rents insurance received by Lessor by reason of any such damage theretoor 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 4 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 insurance proceeds are not actually applied by Lessor to the payment of such amounts, Lessor shall nevertheless have no claim against Lessee for Rental abated hereunder.

Appears in 1 contract

Samples: Lease Agreement (Centennial Healthcare Corp)

Fire and Other Casualty. 9. (a) In case of fire or other casualty, Tenant shall give immediate notice to Landlord. In the event the Demised Premises are shall be partially damaged by fire fire, the elements or other casualty insured by Landlordcasualty, but shall not be so destroyed or damaged as to require practically a rebuilding thereof, then the Landlord agrees to promptly restore and shall repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only same as speedily as practicable to the extent of the scope of Landlord's work in the original construction of the Premises, and if any portion of the Premises shall be rendered untenantable, then the Tenant's obligation to pay Rental hereunder shall xxxxx in the same proportion which the square footage of the portion rendered untenantable bears to the total square footage of the Premises until such time as the Landlord receives insurance proceeds therefor, including shall have substantially repaired the proceeds from the insurance required to be carried by Tenant on the ImprovementsPremises. Notwithstanding the foregoing, in In the event that at least fifty (50%) percent of the Demised Premises are shall be damaged, then the Landlord or Tenant shall have the right to terminate the lease on thirty (i30) days' written notice delivered to the other party, in which event the reasonable opinion Rental as abated, if applicable, shall be paid up to the time of Landlordsuch termination and then and from thenceforth this lease shall come to an end. In the event that less than fifty percent (50%) of the Premises is damaged, so destroyed that they cannot be repaired or rebuilt within two hundred seventy Landlord shall have One Hundred Twenty (270120) days after from the date of casualty to substantially restore the Premises to the same scope of work as Landlord had provided Tenant at the commencement of this lease. If Landlord has not substantially restored the Premises in the manner provided herein within such damage; or One Hundred Twenty (ii120) 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premisesday period, then Landlord tenant shall give written notice have the right to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt following the expiration of then aforesaid One Hundred Twenty (120) day period. If at least fifty (50%) percent of the Determination Notice. Upon Building (whether or not the giving Premises shall have been damaged)shall be damaged, then the Landlord shall have the right to terminate the lease on thirty (30) days' written notice delivered to the Tenant, in which event the Rental as abated, if applicable, shall be paid up to the time of such termination noticeand then and from thenceforth this lease shall come to an end. In the event the Landlord does not elect to terminate this lease, all obligations hereunder with respect then the lease shall remain in full force and effect, the Rental payments shall be reduced as aforesaid, and the Landlord shall proceed diligently to periods from and after rebuild the effective date of termination shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, Building and/or to restore the Premises to the extent of the available scope of its work in originally constructing the Building, and Premises, provided however, that the Landlord shall not be required to expend a sum greater that the net proceeds of fire or other casualty insurance proceeds, make such repair or restoration received on account of the Demised damage to the Building and Premises as a result of such casualty. If the net proceeds of fire or other casualty insurance shall be insufficient to restore the Premises to the approximate extent of the original construction of the Building due to any environmental condition existing prior to which may have arisen as a result of 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 thereto.

Appears in 1 contract

Samples: Cadapult Graphic Systems Inc

Fire and Other Casualty. In If the event Premises shall be damaged by fire or other casualty, other than as a result of the Demised gross negligence or willful misconduct of Tenant, the Lease shall not terminate and, upon adjustment of insurance claims, Landlord shall repair the damage, provided that Landlord shall have no obligation to repair damage to or replace Tenant’s Personal Property. 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; provided, however, that, if more than fifty percent (50%) of the rentable area of the Premises is damaged and Tenant is not in occupancy of any part of the Premises, then Rent shall be fully abated until the date that the damage is repaired. 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, 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 (i) Landlord, at its option, may give Tenant, within sixty (60) days after the casualty, written notice of termination of this Lease and of all other leases in the Building which Landlord is entitled to terminate pursuant to such leases, 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 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 the date of the casualty, unless Tenant has continued to occupy the Premises, 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 Tenant may terminate this lease by written notice to Landlord, which notice shall be given 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, Tenant may terminate this Lease by written notice to Landlord, 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 insured by Landlord, due to the gross negligence or willful misconduct of Tenant: (i) Landlord agrees shall have no obligation to promptly restore and repair the Demised Premises or the Building, (ii) this Lease shall, at Landlord’s expenseoption, including the Improvements to be insured by Tenantnot terminate, but only to the extent and (iii) Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds may pursue any legal and equitable remedies available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 theretoit.

Appears in 1 contract

Samples: Lease (Learning Tree International Inc)

Fire and Other Casualty. In A. If the event Building or the Demised Complex shall be damaged, this Lease shall not terminate except as otherwise provided in this Lease and Landlord shall promptly commence and diligently proceed to repair the damage, provided that Landlord shall have no obligation to repair damage to or replace Tenant’s Personal Property. Landlord’s restoration obligations hereunder shall be effective regardless of any delays in obtaining insurance proceeds. All Alterations shall be restored by Landlord in accordance with the as-built plans for the same. Except as otherwise provided herein, if any part of the Premises are damaged by fire or other casualty 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 only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 rendered untenantable by reason of any such damage, Rent shall xxxxx from the date of the damage theretoto the date the damage is repaired, in the proportion that the rentable area of the portion of the Premises that Tenant is prevented from using, and does not use, bears to the total rentable area of the Premises. However, in the event the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then the Rent for the entire Premises (including all of Tenant’s parking charges) shall be abated; provided, however, if Tenant reoccupies and conducts its business from any portion of the Premises, then Rent (including parking charges) applicable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date such business operations commence. If Tenant’s right to abatement occurs during the Free Rent Period, then the Free Rent Period shall be extended for the number of days that the abatement period overlaps the Free Rent Period. Tenant’s right to abatement shall commence upon the occurrence of damage and shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures and equipment and to move in over one (1) weekend, provided that such time for Tenant to rebuild the portion of the Premises which it is required to rebuild shall not exceed one hundred eighty (180) days from the date upon which Tenant is given sufficient access to the Premises for such rebuilding.

Appears in 1 contract

Samples: Deed of Lease (Watson Wyatt & Co Holdings)

Fire and Other Casualty. In 9. (a)If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent and other items of additional rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent and other items of additional rent as hereinafter expressly provided shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner (or sooner reoccupied in part by Tenant then rent shall be apportioned as provided in subsection (b) above), subject to Owner's right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, including the Improvements then, in any such events, Owner may elect to be insured terminate this lease by written notice to Tenant, but only given within 90 days after such fire or casualty, or 30 days after adjustment of the insurance claim for such fire or casualty, whichever is sooner, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Landlord's rights and remedies against Tenant under the extent Landlord receives lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and moveable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, including Owner's obligation to restore under subparagraph (b) above, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party within thirty (30) days after Tenant’s receipt for recovery for loss or damage resulting form fire or other casualty and to the extent that such insurance is in force and collectible and to the extent permitted by law, Owner and Tenant each hereby releases and waives all right of the Determination Notice. Upon the giving of such termination notice, all obligations hereunder recovery with respect to periods from subparagraphs (b), (d), and after (e) above, against the effective date other or any one claiming through or under each of termination them by way of subrogation or otherwise. The release and waiver herein referred to shall thereupon cease be deemed to include any loss or damage to the demised premises and/ or to any personal property, equipment, trade fixtures, goods and terminatemerchandise located therein. If no The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such termination notice is givena release or waiver shall not invalidate the insurance. If, Landlord shall, and to the extent , that such waiver can be obtained only by the payment of additional premiums, then the party benefiting from the waiver shall pay such premium within ten days after written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligations under the provisions hereof with respect to waiver of subrogation. Tenant acknowledges that Owner will not carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenances removable by Tenant and agrees that Owner will not be obligated to repair any damage thereto or replace the same. (f) Tenant hereby waives the provisions of Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Manchester Equipment Co Inc

Fire and Other Casualty. In the event that the Demised Premises are damaged Building should be totally destroyed, without limitation, by fire or other casualty insured by Landlordcasualty, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to or should be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event so damaged that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they rebuilding or repairs cannot be repaired or rebuilt completed within two one hundred seventy eighty (270180) days after the date of such damage; casualty, either Tenant or (ii) destroyed by a casualty which is not covered by Landlord’s insuranceLandlord may at its option terminate this Lease, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party be exercised within thirty (30) days after Tenant’s receipt the date of such casualty. In the event this Lease is not so terminated, rent shall be abated during the unexpired portion of this Lease effective with the date of such damage, and Landlord may proceed to rebuild and repair the Building and the Demised Premises, except that Landlord shall not be required to rebuild, repair or replace any part of the Determination Noticepartitions, fixtures, and other improvements which may have been placed by Tenant or other tenants within the Building. Upon In the giving event the Building should be damaged by fire or other casualty, but only to such extent that rebuilding or repair can be completed within one hundred eighty (180) days after the date of such termination noticecasualty, all obligations hereunder with respect or if the casualty should be more serious but neither Landlord or Tenant elect to periods from and terminate this Lease, in either such event Landlord shall within forty (40) days after the effective date of termination such casualty commence to rebuild or repair the Building and shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, proceed with reasonable diligence to restore the Building to substantially the same condition in which it was immediately prior to the extent happening of the available insurance proceedscasualty, make such except that Landlord shall not be required to rebuild repair or restoration replace any part of the partitions, fixtures, and other improvements which may have been placed by Tenant or other tenants within the Building. Landlord shall allow Tenant a fair diminution of rent during the time the Demised Premises are unfit for occupancy. Any insurance which may be collected by Landlord or Tenant against loss or casualty to the Building or to the Demised Premises shall be for the sole benefit of the party, carrying such insurance and under its sole control. Notwithstanding any of the foregoing to the contrary, neither Landlord nor Tenant shall be required to continue under this Lease if the Demised Premises have been damaged to such an extent that Tenant has been required to vacate all or a substantial portion 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent shall proportionately xxxxx during at the time that such casualty occurred, less than twelve (12) months remain on the Demised Premises or any part thereof are unusable by reason of any such damage theretoTerm.

Appears in 1 contract

Samples: Lease Agreement (Mpsi Systems Inc)

Fire and Other Casualty. In the event (A) If the Demised Premises are shall be damaged or destroyed by fire or other casualty insured by casualty, then Tenant shall give notice thereof to Landlord, and except as hereinafter otherwise provided, Landlord agrees to promptly shall, within reasonable time thereafter, repair or restore and repair the Demised Premises at Landlord’s expense, including to substantially the Improvements same condition the Demised Premises were in prior to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvementssuch 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 event that 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 are (i) in should be so extensive as to render the reasonable opinion whole or any part thereof untenable or unsuitable for use and occupancy by Tenant, a just proportion of Landlordthe Minimum Rent, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after according to the date nature and extent 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 the injury to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice be suspended or abated until occupancy the Demised Premises shall be repaired or restored as provided in the 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 Tenant the extent of such determination twenty five percent (the “Determination Notice”25%) within sixty (60) days or more of such casualty. Either their insurable value, Landlord or Tenant Tenant, at either of their election, may terminate and cancel the term of this Lease effective as of the date of such casualty by giving written a notice to the other party within thirty (30) days after Tenant’s receipt such damage or destruction. It is also agreed and understood that if during the last six (6) months of the Determination Notice. Upon term of this Lease the giving of such termination notice, all obligations hereunder with respect to periods from and after the effective date of termination Demised Premises shall thereupon cease and terminate. If no such termination notice is given, Landlord 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 available insurance proceedsterm of this Lease by a notice to Landlord within thirty (30) days after such damage or destruction. In the event of any termination of the term of this Lease pursuant to the provisions of this Article, make such the termination shall be effective on the fifteenth (15th) day after the giving of the notice of termination. 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 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 resume its business therein. If Landlord shall not substantially complete repair and restoration of the Demised Premises to the approximate condition existing 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 such casualtythe Deadline Tenant shall give notice to the Landlord that Tenant then elects to continue the term of this Lease thereafter, 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)shall so elect then this sentence shall thereafter be void and of no further force or effect. 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 thereto.Initials: JPF. SPM. 12

Appears in 1 contract

Samples: Lease Agreement (Spring Bank Pharmaceuticals, Inc.)

Fire and Other Casualty. In If the event Premises or the Demised Premises Building are damaged made untenantable by fire or other casualty insured by Landlord, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expensecasualty, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion damage or casualties of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 givenwar, Landlord shall, to the extent permitted by all mortgages and ground leases on the Building, 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, including the tenant improvements, and, at Landlord’s option, Tenant may be permitted or required to devote the proceeds of its insurance covering tenant improvements to cause restoration of tenant improvements over and above those performed or paid for by Landlord pursuant to Landlord’s Work or “as is,” as the case may be, and pay for same to Landlord or through Landlord as if newly done pursuant to Article 7 of this Lease. In the event fire or other casualty occurs and both Landlord and Tenant are insured, it is agreed that the coverage of the available Landlord shall be primary and that Landlord’s recovery in no event shall be reduced by any insurance proceedsrecovery to Tenant. Notwithstanding anything in this Section 8.1 to the contrary, if a registered architect selected by Landlord licensed to do business in New Jersey should certify that such work to the Premises cannot be accomplished by using standard working methods and procedures so as to make the Premises tenantable within twelve (12) months from the date the rehabilitation is started or within two (2) months from such repair or restoration date if the Lease term has less than eighteen (18) months remaining, 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 Demised architect’s certificate. If said fire or other casualty results in total destruction of the Building, this Lease shall automatically terminate as of the date of said fire or other casualty. In case of fire or other casualty not resulting in termination of this Lease, rent shall be abated on a per diem basis while the Premises are untenantable. If Tenant continues to conduct its business or profession in whole or in part from a portion of the approximate condition existing prior to Premises after such casualty, promptly rent for space shall be abated pro rata with rent being charged only for the tenantable area. In case of termination of this Lease, rent shall be apportioned on a per diem basis and in such manner as not be paid to unreasonably interfere with the date of the fire or other casualty. Any provision hereof notwithstanding, Tenant’s use and occupancy rent shall not xxxxx if its negligence was the cause 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 theretocasualty.

Appears in 1 contract

Samples: Lease (Ikaria, Inc.)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any partner of shall be damaged by fire or other casualty, Tenant shall get immediate notice thereof to Owner and this lease shall continue in full force in effect except as hereinafter set forth. (b) if the demised premises are partially damaged or tendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent and other items of additional rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) if the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent and other items of additional rent as hereinafter expressly provided shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner (or sooner reoccupied in part by Tenant then rent shall be apportioned as provided in subsection (b)above). Subject to Owner's right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided. (d) if the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner decide to demolish it or to rebuild it, including the Improvements then, in any as such events, Owner may elect to be insured terminate this lease by written notice to Tenant, but only given within 90 days after such fire or casualty, or 30 days after adjustments of the insurance claim for such fire or casualty, whichever is sooner, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date or the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however to landlord's rights and remedies against Tenants under the extent Landlord receives lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payment of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and clauses beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration, by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and moveable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. (c) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, including Owner's obligation to restore under subparagraph (b) above, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party within thirty (30) days after Tenant’s receipt for recovery, or loss or damage resulting from fire or other casualty , and to the extent that such insurance is in force and collectible and to the extent permitted by law. Owner and Tenant such hereby releases and waives all rights of the Determination Notice. Upon the giving of such termination notice, all obligations hereunder recovery with respect to periods from subparagraphs (b), (d) and after (e) above, against the effective date other or anyone claiming through or under each of termination them by way of subrogation or otherwise. The release and waiver herein referred to shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, be deemed to include any loss or damage to the extent demised premises and/or to any personal property, equipment, trade fixtures, goods and merchandise located therein. The foregoing release and waiver shall be enforced only if both releasors insurance policy contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefiting from the waiver shall pay such premium within 10 days after written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the provisions hereof with respect to waiver of subrogation. Tenant acknowledges that Owner will not carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or at the appurtenances removable by Tenant and agrees that Owner will not be obligated to repair any damage thereto or replace the same. (f) Tenant hereby waves the provisions of Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis Article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Ijc Ventures Corp

Fire and Other Casualty. In If the event the Demised Premises Leased Premises, or any portion thereof, are partially or totally destroyed or damaged by fire or other casualty insured covered by Landlordthe fire and extended coverage insurance carried by Lessor on the Building, Landlord agrees Lessor shall repair and restore the damaged portion of the Leased Premises (excluding any tenant fit up work in excess of the building standard and any additions, equipment, furniture and alterations made by tenant) as soon as it is reasonably practicable to promptly restore and repair substantially the Demised same condition in which the Leased Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only were before such damage to the extent Landlord receives permitted by the available insurance proceeds thereforproceeds. Provided, including however, that if the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Leased Premises are (i) in the reasonable opinion of Landlord, so completely destroyed or badly damaged that they repairs cannot be repaired completed within six (6) months thereafter, the Lease Agreement may be terminated by either party hereto by serving written notice upon the other. If the Building is totally or rebuilt within two hundred seventy (270) days after the date of such damage; or (ii) partially destroyed by a fire or other casualty which and cannot be restored within six (6) months thereafter, Lessor may, at its option, terminate the Lease Agreement by serving written notice on the Lessee. In the event the Leased Premises, or any portion thereof, is destroyed or damaged by fire or other casualty covered by the fire and extended coverage insurance carried by Lessor that such damaged portion can not reasonably be used by Lessee for the purpose herein provided and the Lease Agreement is not terminated as above provided, there shall be an abatement of rent to the extent that the damaged portion of the Leased Premises is unfit for use by Lessee in the ordinary course of its business until said damaged portion of the Leased Premises is made useable. In the event the Leased Premises, or any portion thereof, shall be destroyed or damaged by fire or other casualty resulting from the fault or negligence of Lessee, or the agents, employees, licensees or invitees of Lessee, such damage shall be repaired by and at the expense of Lessee (to the extent that such destruction or damage is not covered by Landlord’s insurancethe fire and extended coverage insurance carried by Lessor) under the direction and supervision of Lessor, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord and rent shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 theretocontinue without abatement.

Appears in 1 contract

Samples: McDaniel Building Lease Agreement (Travelnowcom Inc)

Fire and Other Casualty. In If the event Premises shall be damaged by fire or other casualty, other than as a result of the Demised negligence or misconduct of Tenant, this Lease shall not terminate and, upon adjustment of insurance claims, Landlord shall repair the damage, provided that Landlord shall have no obligation to repair damage to or replace Tenant's Personal Property. Except as otherwise provided herein, if any part of the Premises are rendered untenantable by reason of any such damage, Rent shall axxxx 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. Tenant, at its expense, shall promptly perform, subject to delays arising from the collection of insurance proceeds, Unavoidable Delay or obtaining approval from any applicable governmental authority having jurisdiction over Hazardous Materials to restore the Premises (“Hazardous Material Clearances”), all repairs or restoration not required to be done by Landlord and shall promptly re-enter the Premises and commence doing business in accordance with this Lease. Provided Tenant fully and promptly cooperates with Landlord, following written or verbal notice to Tenant, with all reasonable procedures Landlord deems necessary for Landlord to obtain such Hazardous Materials Clearances, Rent shall be abated from the date of such casualty until the Premises are repaired and restored, in the proportion which the area of the Premises, if any, which is not usable by Tenant bears to the total area of the Premises, unless Landlord provides Tenant with other space during the period of repair that is suitable for the temporary conduct of Tenant’s business. Such abatement shall be the sole remedy of Tenant and Tenant waives any right to terminate this Lease by reason of damage or casualty loss. If Tenant fails to cooperate as described herein, neither Base Rent nor Additional Rent shall be abated until the date upon which Landlord is able to obtain such Hazardous Materials Clearances. Notwithstanding anything herein to the contrary, if (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 casualty (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 termination of this Lease, 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 notice, 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. If the Premises or the Building shall be damaged by fire or other casualty 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 only due to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are negligence or misconduct of Tenant: (i) in Landlord shall have no obligation to repair the reasonable opinion of LandlordPremises or the Building, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the date of such damage; or (ii) destroyed by a casualty which is this Lease shall, at Landlord's option, not covered by Landlord’s insuranceterminate, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds (iii) Landlord may at Tenant's expense repair the damage, and (iv) Landlord may pursue any legal and equitable remedies available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 theretoit.

Appears in 1 contract

Samples: Deed of Lease (Novavax Inc)

Fire and Other Casualty. In the event the Demised Premises are damaged by fire or other casualty insured by Landlord, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s 's expense, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy ten (270210) days after the date of such damage; or (ii) destroyed by a casualty which is not covered by Landlord’s 's insurance, or if such casualty is covered by Landlord’s 's insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall use commercially reasonable efforts to give written notice to Tenant of such determination (the "Determination Notice") within sixty forty-five (6045) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s 's receipt of the 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 's use and occupancy of the Demised Premises (if Tenant is still stiff occupying the Demised Premises). Base Rent and Additional Rent and all other amounts payable by Tenant hereunder shall proportionately equitably xxxxx during the time that the Demised Premises or any part thereof are unusable by reason of any such damage thereto.. Priority Fulfillment Services, Inc. Lease Agreement — Stateline Business Park Bldg. H Initial Initial

Appears in 1 contract

Samples: Industrial Lease Agreement (Pfsweb Inc)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinaher set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent and other items of additional rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent and other items of additional rent as hereinafter expressly provided shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner (or sooner reoccupied by Tenant then rent shall be apportioned as provided in subsection (b), subject to Owner's right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, including the Improvements then, in any of such events, Owner may elect to be insured terminate this lease by written notice to Tenant, but only given with 90 days after such fire or casualty, or 30 days after adjustment of the insurance claim for such fire or casualty, whchever is sooner, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shaft forthwith quit, surrender and vacate the premises without prejudice however, to 4 rights and remedies against Tenant under the extent Landlord receives lease provisions in effect prior to such termination, and any rent Owing shad be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and moveable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, including Owner's obligation to restore under subparagraph (b) above, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claum against the other party within thirty (30) days after Tenant’s receipt for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Owner and Tenant each hereby releases and waives all right of the Determination Notice. Upon the giving of such termination notice, all obligations hereunder recovery with respect to periods from subpaAgApbs (b), (d), and after (e) above, against the effective date other or any one claiming through or under each of termination them by way of subrogation or otherwise. The release and waiver herein referred to shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, be deemed to include any loss or damage to the extent demised premises and/or to any personal property, equipment, trade fixtures, goods and merchandise located therein. The foregoing release and waiver shall be in force only if both releasers' insurance policies contain a clause providing that such a release or waiver shil not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefiting from the waiver shil pay such premium within ten days after written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the provisions hereof with respect to waiver of subrogation. Tenant acknowledges that Owner will not carry insurance on Tenant's furniture and/or Furnishings or any fixtures or equipment, improvements, or appurtenences 5 Tenant and agrees that Owner will not be obligated to repair any damage thereto or replace the same. (f) Tenant hereby waives the provisions of Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Properly Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Allstate Financial Corp /Va/

Fire and Other Casualty. In case of fire or other casualty, Tenant shall give immediate written notice to Landlord. In the event the Demised Premises are shall be partially damaged by fire fire, the elements or other casualty insured by casualty, then unless Landlord or Tenant exercises any right to terminate this lease expressly provided in this Paragraph 9, this lease shall remain in full force and effect and Landlord shall, at Landlord's expense, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only same as speedily as practicable to the extent of the original Landlord's Work, exclusive of the Above Standard Improvements, and if any portion of the Premises shall be rendered untenantable, then the Tenant's obligation to pay Rental hereunder shall xxxxx in the same proportion which the square footage of the portion rendered untenantable bears to the total square footage of the Premises until such time as the Landlord receives insurance proceeds thereforshall have substantially repaired the Premises, including except that Tenant shall not be obligated to pay any Rental hereunder except to the extent that Tenant is actually using any part of the Premises for its business use, if its laboratory operations cannot be carried on in the Premises substantially as they were before the casualty. Landlord shall be obligated to repair any damage to Above Standard Improvements provided the proceeds from the of insurance required to be carried by Tenant on or other funds provided by Tenant are made available to Landlord to pay the cost thereof, it being understood that Tenant is responsible for insuring the Above Standard Improvements. Notwithstanding the foregoing, in In the event that the Demised Premises are at least seventy five (i75%) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration percent of the Demised PremisesPremises shall be damaged, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may shall have the right to terminate and cancel this Lease effective as of the date of such casualty by giving lease on thirty (30) days' written notice delivered to the other party party, given within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon occurrence of such damage, in which event the giving Rental as abated, if applicable, shall be paid up to the time of such termination noticeand then and from thenceforth this lease shall come to an end. In the event that less than seventy five percent (75%) of the Premises is damaged, all obligations hereunder with respect to periods Landlord shall have One Hundred Eighty (180) days from and after the effective date of termination shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, casualty to substantially restore the extent of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing same scope of work as Landlord had provided Tenant at the commencement of this lease as Landlord's Work and, if Tenant makes funds available as above provided, including the Above Standard Improvements. If Landlord has not substantially restored the Premises in the manner provided herein within such One Hundred Eighty (180) day period, subject to extension for reasons beyond Landlord's control as provided in Paragraph 28(a), which extension shall in no event exceed six (6) months, then Tenant shall have the right to terminate this Lease within thirty (30) days following the expiration of then aforesaid One Hundred Eighty (180) day period, as extended as aforesaid, by giving written notice to that effect to Landlord. As used herein, the determination of the space which is untenantable or damaged shall mean that such space which is not reasonably usable by Tenant for the business purposes carried on by Tenant in such space 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 thereto.

Appears in 1 contract

Samples: Agreement of Lease (Playtex Products Inc)

Fire and Other Casualty. In the event the Demised Premises are damaged by fire or other casualty 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 only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (ia) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Landlord and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the Demised Premises are partially damaged or rendered partially unusable by reason fire or other casualty, the damages thereto shall be repaired by and at the expense of Landlord and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty according to the portion of the Demised Premises which is usable. (c) If the Demised Premises are totally damaged or rendered wholly unusable by fire or other casualty, then the rent shall be proportionately paid up to the time of the casualty and thenceforth shall cease until the date when the Demised Premises shall have been repaired and restored by Landlord, subject to Landlord's right to elect not to restore the same as hereinafter provided. (d) If the Demised Premises are rendered wholly unusable or (whether or not the Demised Premises are damaged in whole or in part) if the building shall be so damaged that Landlord shall decide to demolish, or to rebuild it, then, in any such events, Landlord may elect to terminate this lease by written notice to Tenant, given within 90 days after such fire or casualty, specifying a date for the expiration of the leased which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the Demised Premises without prejudice however, to Landlord's rights and remedies against Tenant under the lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Landlord shall serve a termination notice as provided for herein, Landlord shall make the repairs and restorations under the conditions of (b) and (c) hereof with all reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Landlord's control. After any such casualty, Tenant shall cooperate with Landlord's restoration by removing from the Demised Premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture and other property. Tenant's liability for rent shall resume five (5) days after written notice from Landlord that the Demised Premises are substantially ready for Tenant occupancy, (e) Nothing contained hereinabove shall relieve Tenant from liability that may exist as a result of damage theretofrom fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Landlord and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors, insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums then the party benefitting from the waiver shall pay such premium within ten (10) days after written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the provisions hereof with respect to waiver of subrogation. Tenant acknowledges that Landlord will not carry insurance on Tenant's furniture and or furnishing or any fixtures or equipment, improvements, or appurtenances removable by Tenant and agrees that Landlord will not be obligated to repair any damage thereto or replace the same. (f) Tenant hereby waives the provisions of Section 227 of the Real Property Law and agrees that the provisions of this Article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Office Lease (Access Integrated Technologies Inc)

Fire and Other Casualty. In the event of damage to, or total or partial destruction of, the Demised Premises are damaged Building, EnerDel Parking areas, EnerDel Loading areas or any fixtures, equipment, or systems which constitute a part of the Building by fire or other casualty insured (“Casualty Damage”), the insurance proceeds, if any, which, as a result of the Casualty Damage, are payable under any fire or casualty insurance maintained by Landlord shall be payable to, and be the sole property of, Landlord, and, subject to the terms and conditions of this Section, Landlord agrees to promptly restore shall cause the prompt and diligent repair and replacement of the Demised Premises at Building, EnerDel Parking areas, EnerDel Loading areas, Landlord’s expenseWork and any other alterations, improvements or additions of or to the Leased Premises which were completed by BCI on behalf of Tenant, and as soon as reasonably possible so that it is in substantially the same condition as existed prior to the Casualty Damage; provided that Landlord shall not be obligated to repair or replace any item which was not part of Landlord’s Work, including without limitation, any alterations, improvements or additions of or to the Improvements to be insured Leased Premises made by Tenant, but only unless any of such alterations, improvements or additions of or to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried Leased Premises were completed by Tenant BCI on the Improvementsbehalf of Tenant. Notwithstanding the foregoingforegoing provision of this Section 14, in the event that event: (a) the Demised portions of the Leased Premises to be restored by Landlord are (i) in the reasonable opinion of Landlord, so damaged or destroyed that they cannot be repaired restored within twelve (12) months after the date of the damage or rebuilt destruction, (b) the damage or destruction is not covered by the policy of property insurance to be maintained by Landlord in accordance with Section 13 hereof and Landlord does not otherwise undertake to restore the Leased Premises within two hundred seventy ninety (27090) days after the date of such damage; damage or destruction, (iic) destroyed by a casualty which is not covered the insurance proceeds (without regard to any reduction thereof by Landlord’s insurancemortgagee to its mortgage debt) are when coupled with any deductible or retention amount, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient insufficient for restoration of the Demised PremisesLeased Premises and Landlord does not otherwise undertake such restoration within ninety (90) days after the date of such damage or destruction, or (d) applicable law does not permit the restoration of the Leased Premises to substantially the same condition as at the commencement of the term of this Lease and Landlord, after reasonable efforts, cannot obtain a variance from such limitations within 120 days; then Landlord shall give written notice not be obligated to Tenant of such determination (restore the “Determination Notice”) within sixty (60) days of such casualty. Either Leased Premises and Landlord or Tenant may may, after ninety (90) days following the damage or destruction, terminate and cancel this Lease effective as of the date of such casualty by giving upon fifteen (15) days written notice to the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination noticeparty, and all obligations hereunder with respect to periods from and after the effective date of termination except those due or mature shall thereupon cease and terminate. If no such termination more than 50% of the Leased Premises is damaged by a Casualty Damage that occurs during the last two (2) years of the Extension Term, then Landlord or Tenant, at their respective option, may terminate this Lease upon ninety (90) days’ written notice is given, Landlord shall, to the extent of other party, and all obligations hereunder, except those due or mature, shall cease and terminate. Rent shall be abated proportionately (based upon the available insurance proceeds, make such repair or restoration of proportion that the Demised unusable space in the Leased Premises due to a Casualty Damage bears to the approximate condition existing prior to such casualty, promptly and total space 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 Leased Premises). Base Rent and Additional Rent shall proportionately xxxxx during the time ) for each day that the Demised Leased Premises or any part thereof are is unusable by reason of any such damage theretoCasualty Damage. If the Leased Premises are so damaged by casualty that Tenant’s operations are materially impaired and Landlord or its affiliate has other space available in the Project, Landlord shall use good faith efforts to make such space available to Tenant during the restoration at Tenant’s request at commercially reasonable rates.

Appears in 1 contract

Samples: Lease (Ener1 Inc)

Fire and Other Casualty. In (a) If the event Building or other improvements on the Demised Premises are Land shall be damaged or destroyed by fire or other casualty insured by casualty, 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 Lender (if applicable) and of Landlord) and arrange for the disbursement of insurance proceeds, Landlord agrees and repair, rebuild or replace such Building and other improvements, so as to promptly restore and repair the Demised Premises at Landlord’s expenseto 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 Lender (provided that such Lender is a bank, including savings association, insurance company or other similar institutional lender; herein called "Institutional Lender"), or, if no Institutional Lender then holds a Mortgage on the Improvements Demised Premises, by any national or state chartered bank which is reasonably acceptable to Landlord and Tenant; and the Net Insurance Proceeds shall be insured by released for the purpose of paying the fair and reasonable cost of restoring such Building and other improvements. Such Net Insurance Proceeds shall be released to Tenant, but only or to Tenant's contractors, from time to time as the extent work progresses, pursuant to such requirements and limitations as may be reasonably acceptable to Landlord receives insurance proceeds thereforand Lender (if the Lender so requires), including including, without limitation, lien waivers from each of the proceeds from contractors, subcontractors, materialmen and suppliers performing the insurance required work. If the Net Insurance Proceeds (less any applicable deductible) are insufficient to restore the Demised Premises Tenant shall be carried by Tenant on obligated to pay such deficiency and the Improvementsamount of any such deductible. Notwithstanding the foregoing, if the Net Insurance Proceeds are less than Twenty-Five Thousand Dollars ($25,000.00), and if the Lender agrees in writing, such Net Insurance Proceeds may be held by Tenant and used by Tenant to pay the event that the fair and reasonable cost of restoring such Demised Premises are (i) in and other improvements. If the reasonable opinion Net Insurance Proceeds exceed the full cost of Landlordthe repair, so destroyed that they cannot be repaired rebuilding or rebuilt within two hundred seventy (270) days after replacement of the date damaged Building or other improvements, then the amount 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord excess Net Insurance Proceeds shall give written notice be paid to Tenant upon the completion of such determination (the “Determination Notice”) within sixty (60) days of such casualtyrepair, rebuilding or replacement. Either Landlord agrees not unreasonably to withhold or delay any approvals required to be obtained by Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice from Landlord pursuant to the other party within thirty provisions of this Section 21 (30) days after Tenant’s receipt of the 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premisesa). 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 thereto.

Appears in 1 contract

Samples: Suit Industrial Lease Agreement (Act Manufacturing Inc)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner, subject to Owner's right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, including the Improvements then, in any of such events, Owner may elect to be insured terminate this lease by written notice to Tenant, but only given within 90 days after such fire or casualty, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Landlord's rights and remedies against Tenant under the extent Landlord receives lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Owner's 3 control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Owner and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefitting from the waiver shall pay such premium within thirty (30) ten days after Tenant’s receipt written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the Determination Notice. Upon the giving of such termination notice, all obligations hereunder provisions hereof with respect to periods from waiver of subrogation. Tenant acknowledges that Owner will not carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenances removable by Tenant and after agrees that Owner will not be obligated to repair any damage thereto or replace the effective date same. (f) Tenant hereby waives the provisions of termination shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, to the extent Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Agreement of Lease (Martha Stewart Living Omnimedia Inc)

Fire and Other Casualty. In If all or any portion of any Property is damaged or destroyed by fire or other casualty, Seller will promptly notify Purchaser of the event nature and extent of such damage or destruction, the Demised Premises amount estimated to be expended to repair or restore such damaged or destroyed Property or portion thereof, the amount, if any, of insurance proceeds that are damaged available to make such repairs or restoration and the estimated period of time it would take to make such repairs and restoration. If the damage by fire or other casualty insured by Landlord, Landlord agrees to promptly restore any Property has not been repaired to the reasonable satisfaction of Purchaser prior to the Closing hereunder and repair requires ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) or less (in the Demised Premises at Landlord’s expense, including aggregate across the Improvements Properties) to be insured by Tenantexpended to repair or restore such damaged or destroyed Property or portion thereof, but only this Agreement shall remain in full force and effect, and in such event Seller shall assign to Purchaser any and all claims for the insurance proceeds of such damage to or destruction of such Property, and Purchaser shall take title to the extent Landlord receives Properties with the assignment of such proceeds and subject to such damage to or destruction of such Property with a reduction of the Purchase Price equal to the amount of any deductible due under the terms of any applicable insurance proceeds therefor, including the proceeds from policy (unless such damage is less than the insurance deductible, in which case the amount of the reduction in the Purchase Price shall be limited to the amount of the damage). If the amount required to be carried by Tenant on expended to repair or restore such damaged or destroyed Property or portion thereof exceeds ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) as of the Improvements. Notwithstanding the foregoing, Closing Date (in the event that the Demised Premises are aggregate across Properties), Purchaser shall have, as its sole and exclusive remedies: (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt option to terminate this Agreement within two hundred seventy fifteen (27015) days after the date following notice in writing from Seller to Purchaser of such damagecasualty, in which event the parties shall have no further rights or obligations hereunder (other than the obligations that survive the termination of this Agreement, including without limitation, the indemnity and confidentiality obligations set forth in Section 13 and Section 37, respectively) and the Xxxxxxx Money shall be returned to Purchaser, subject to Purchaser's satisfaction of the conditions set forth in Section 38; 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 insurance proceeds Purchaser fails to make such proceeds available elect to Landlord terminate, this Agreement shall remain in an amount sufficient for restoration of the Demised Premisesfull force and effect, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 event Seller shall assign to unreasonably interfere Purchaser any and all claims for the insurance proceeds of such damage to or destruction of such Property, and Purchaser shall take title to the Properties with Tenant’s use the assignment of such proceeds and occupancy subject to such damage to or destruction of such Property with a reduction in the Purchase Price equal to the lesser of the Demised Premises amount of the insurance deductible or the amount of damage to such Property. If Purchaser does not elect to terminate within the fifteen (if Tenant is still occupying 15) day period following such notice of the Demised Premises)casualty by Seller, Seller and Purchaser shall be deemed to have waived all rights to terminate pursuant to this provision and this Agreement shall remain in full force and effect. Base Rent The provisions of this Section 18 supersede the provisions of Section 5-1311 of the General Obligations Law of the State of New York, and Additional Rent shall proportionately xxxxx during the time parties waive all rights thereunder that would be applicable absent the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis Section 18.

Appears in 1 contract

Samples: Purchase and Sale Agreement (NorthStar Healthcare Income, Inc.)

Fire and Other Casualty. In (a) If the event Building or other improvements on the Demised Premises are Land shall be damaged or destroyed by fire or other casualty insured by casualty, 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) and arrange for the disbursement of insurance proceeds, Landlord agrees and repair, rebuild or replace such Building and other improvements, so as to promptly restore and repair the Demised Premises at Landlord’s expenseto 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, including 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 Improvements Demised Premises, by any national or state chartered bank which is reasonably acceptable to Landlord and Tenant; and the Net Insurance Proceeds shall be insured by released for the purpose of paying the fair and reasonable cost of restoring such Building and other improvements. Such Net Insurance Proceeds shall be released to Tenant, but only or to Tenant's contractors, from time to time as the extent work progresses, pursuant to such requirements and limitations as may be reasonably acceptable to Landlord receives insurance proceeds thereforand Mortgagee (if the Mortgagee so requires), including including, without limitation, lien waivers from each of the proceeds from contractors, subcontractors, materialmen and suppliers performing the insurance required work. If the Net Insurance Proceeds (less any applicable deductible) are insufficient to restore the Demised Premises, Tenant shall be carried by Tenant on obligated to pay such deficiency and the Improvementsamount of any such deductible. Notwithstanding the foregoing, if the Net Insurance Proceeds are less than Twenty-Five Thousand Dollars ($25,000.00), and if the Mortgagee agrees in writing, such Net Insurance Proceeds may be held by Tenant and used by Tenant to pay the event that the fair and reasonable cost of restoring such Demised Premises are (i) in and other improvements. If the reasonable opinion Net Insurance Proceeds exceed the full cost of Landlordthe repair, so destroyed that they canrebuilding or replacement of the damaged Building or other improvements, if the Mortgagee does not be repaired or rebuilt within two hundred seventy (270) days after retain such excess proceeds and apply the date same on account of the debt owed to it, then the amount 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord excess Net Insurance Proceeds shall give written notice be paid to Tenant upon the completion of such determination (the “Determination Notice”) within sixty (60) days of such casualtyrepair, rebuilding or replacement. Either Landlord agrees not unreasonably to withhold or delay any approvals required to be obtained by Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice from Landlord pursuant to the other party within thirty (30) days after Tenant’s receipt provisions of the 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premisesthis Section 21(a). 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 thereto.

Appears in 1 contract

Samples: Industrial Lease Agreement (Wells Real Estate Fund Ix Lp)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent and other items of additional rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty 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 only according to the extent Landlord receives insurance proceeds thereforpart of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by fire or other casualty, including then the proceeds from rent and other items of additional rent as hereinafter expressly provided shall be proportionately paid up to the insurance required to be carried time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner (or sooner reoccupied in part by Tenant on then rent shall be apportioned as proved in subsection (b) above), subject to Owner's right to elect not to restore the Improvementssame as hereinafter provided. Notwithstanding (d) If the foregoingdemised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuilt it, then, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the date any of such damage; or (ii) destroyed events, Owner may elect to terminate this lease 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of Tenant, given within 90 days after such determination (the “Determination Notice”) within sixty (60) fire or casualty, or 30 days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as after adjustment of the date of insurance claim for such casualty by giving written notice to the other party within thirty (30) fire or casualty, or 30 days after Tenant’s receipt adjustment of the Determination Notice. Upon insurance claim for such fire or casualty, whichever is sooner, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such termination notice, all obligations hereunder with respect to periods from and after upon the effective date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall thereupon cease forthwith quit, surrender and terminate. If no such termination notice is given, Landlord shallvacate the premises without prejudice however, to Landlord's rights and remedies against Tenant under the extent of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payment of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the premises as promptly as reasonably possible, all of Tenant's salvageable inventory and in such manner as not to unreasonably interfere with moveable equipment, furniture, and other property. Tenant’s use and occupancy of the Demised Premises 's liability for rent shall resume five (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent shall proportionately xxxxx during the time 5) days after written notice from Owner that the Demised Premises premises are substantially ready for Tenant's occupancy or any part thereof are unusable such earlier date on which such repairs would have been completed but for delays caused by reason of any such damage thereto.Tenant, including delays in

Appears in 1 contract

Samples: Agreement of Lease (Wall Street Strategies Corp)

Fire and Other Casualty. In If the event Premises or the Demised Premises Building are damaged made ----------------------- untenantable by fire or other casualty insured by Landlordcasualty, including damage or casualties of war, Landlord agrees shall, to promptly the extent permitted by all mortgages and ground leases on the Building, 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 repair the Demised Premises at Landlord’s expensePremises, including the Improvements to be insured tenant improvements, if any, paid for by Tenant, but only Landlord pursuant to the extent Landlord receives insurance proceeds thereforWork Letter or, including to similar improvements located in the Premises on the date of this Lease, and, at Landlord's option, Tenant may be permitted or required to devote the proceeds from of its insurance covering tenant improvements to cause restoration of tenant improvements over and above those performed or paid for by Landlord pursuant to the Work Letter or "as is," as the case may be, and pay for same to Landlord or through Landlord as if newly done pursuant to Section 5 of this Lease. In the event fire or other casualty occurs and both Landlord and Tenant are insured, it is agreed that the coverage of the Landlord shall be primary and that Landlord's recovery in no event shall be reduced by any insurance required recovery to be carried by Tenant on the ImprovementsTenant. Notwithstanding anything in this Section 9 to the foregoingcontrary, if a registered architect selected by Landlord licensed to do business in Illinois should certify that such work to the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired accomplished by using standard working methods and procedures so as to make the Premises tenantable within twelve (12) months from the date Landlord settles in full its claim with its insurance carrier for the Building or rebuilt within two hundred seventy (2702) months from such date if the Lease term has less than eighteen (18) months remaining, either party shall have the right to terminate this Lease by giving to the other notice of such election within ten (10) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration its receipt of the Demised Premises, then architect's certificate. Landlord shall give written notice to Tenant of select such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party registered architect within thirty (30) days after Tenant’s receipt of a written request by Tenant; provided that Landlord may make such selection without a request by Tenant if Landlord elects to do so. Landlord shall inform Tenant of the Determination Noticeconclusion reached by the architect promptly after receiving a written request from Tenant. Upon If said fire or other casualty results in total destruction of the giving Building, this Lease shall automatically terminate as of such termination notice, all obligations hereunder with respect to periods from and after the effective date of said or other casualty. In case of fire or other casualty not resulting in termination of this Lease, rent shall thereupon cease and terminatebe abated on a per them basis while the Premises are untenantable. If no such termination notice is given, Landlord shall, Tenant continues to the extent conduct its business or profession in whole or in part from a portion of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to after such casualty, promptly rent for space shall be abated pro rata with rent being charged only for the tenantable area. In case of termination of this Lease, rent shall be apportioned on a per diem basis and in such manner as not be paid to unreasonably interfere with Tenant’s use and occupancy the date of the Demised Premises (fire or other casualty. Any provision hereof notwithstanding, Tenant's rent shall not xxxxx if Tenant is still occupying its negligence was the Demised Premises). Base Rent and Additional Rent shall proportionately xxxxx during cause of the time that the Demised Premises or any part thereof are unusable by reason of any such damage theretocasualty.

Appears in 1 contract

Samples: Lease (Argosy Education Group Inc)

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Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty insured casualty, Tenant shall give immediate notice thereof to Owner, and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by Landlordfire or other casualty, Landlord agrees the damages thereto shall be repaired by, and at the expense of Owner, and the rent and other items of additional rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty, according to promptly the part of the demised premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by fire or other casualty, then the rent and other items of additional rent, as hereinafter expressly provided, shall be proportionately paid up to the time of the casualty, and henceforth shall cease until the date when the demised premises shall have been repaired and restored by Owner (or if sooner reoccupied in part by Tenant then rent shall be apportioned as provided in subsection (b) above), subject to Owner’s right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, including the Improvements then, in any of such events, Owner may elect to be insured terminate this lease by written notice to Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are given within ninety (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (27090) days after the date of such damage; fire or (ii) destroyed by a casualty which is not covered by Landlord’s insurancecasualty, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt adjustment of the Determination Notice. Upon insurance claim for such fire or casualty, whichever is sooner, specifying a date for the expiration of the lease, which date shall not be more than sixty (60) days after the giving of such termination notice, all obligations hereunder with respect to periods from and after upon the effective date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease, and Tenant shall thereupon cease forthwith quit, surrender and terminate. If no such termination notice is given, Landlord shallvacate the demised premises without prejudice however, to Owner’s rights and remedies against Tenant under the extent of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date, and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Owner’s control. After any such casualty, Tenant shall cooperate with Owner’s restoration by removing from the demised premises as promptly and in such manner as not to unreasonably interfere with reasonably possible, all of Tenant’s use salvageable inventory and occupancy of the Demised Premises movable equipment, furniture, and other property. Tenant’s liability for rent shall resume five (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent shall proportionately xxxxx during the time 5) days after written notice from Owner that the Demised Premises demised premises are substantially ready for Tenant’s occupancy. (e) Nothing contained hereinabove shall relieve Tenant from liability that may exist as a result of damage from fire or any part thereof are unusable by reason of any such damage thereto.other casualty. Notwithstanding anything contained to the contrary in subdivisions (a) through (e) hereof,

Appears in 1 contract

Samples: Office Lease

Fire and Other Casualty. In (a) If the event Building or other improvements on the Demised Premises are Land shall be damaged or destroyed by fire or other casualty insured by Landlordcasualty, Landlord agrees to promptly restore Tenant at Tenant's sole cost and repair the Demised Premises at Landlord’s expense, including shall promptly and diligently proceed to adjust the Improvements to be insured by Tenant, but only loss with the insurance companies (subject to the extent Landlord receives insurance proceeds therefor, including approval of the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are Mortgagee (iif applicable) in the reasonable opinion and of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after and arrange for the date disbursement 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 and repair, rebuild or replace such repair or restoration of Building and other improvements, so as to restore the Demised Premises to the approximate condition existing in which they were immediately prior to such casualty, promptly and damage or destruction. The net proceeds of any insurance recovered by reason of such damage or destruction in such manner as not to unreasonably interfere with Tenant’s use and occupancy excess of the Demised Premises 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 Tenant is still occupying 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 be released for the purpose of paying the fair and reasonable cost of restoring such Building and other improvements. Base Rent Such Net Insurance Proceeds shall be released to Tenant, or to Tenant's contractors from time to time as the work progresses, pursuant to such requirements and Additional Rent shall proportionately xxxxx during limitations as may be reasonably acceptable to Landlord and Mortgagee (if the time that Mortgagee so requires) including without limitation, lien waivers from each of the contractors, subcontractors, materialmen and suppliers performing the work. If the Net Insurance Proceeds (less any applicable deductible) are insufficient to restore the Demised Premises or any part thereof are unusable by reason Premises, Tenant shall be obligated to pay such deficiency and the amount of any such damage theretodeductible. Notwithstanding the foregoing if the Net Insurance Proceeds are less than Twenty-Five Thousand Dollars ($25,000.00), and if the Mortgagee agrees in writing such Net Insurance Proceeds may be held by Tenant and used by Tenant to pay the 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 supply 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). Landlord agrees to cooperate with Tenant, at no cost to Landlord, in connection with Tenant's request to Mortgagee to release the Net Insurance Proceeds to Tenant.

Appears in 1 contract

Samples: Consent and Agreement (Crain Industries Inc)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth, (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable, (c) If the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner, subject to Owner's right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided, including (d) If the Improvements demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to be insured demolish it or to rebuild it, then, in any of such events, Owner may elect to terminate this lease by written notice to Tenant, but only given within 90 days after such fire or casualty, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Landlord's rights and remedies against Tenant under the extent Landlord receives lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy, (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty and to the extent that such insurance is in force and collectible and to the extent permitted by law, Owner and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefiting from the waiver shall pay such premium within thirty (30) ten days after Tenant’s receipt written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the Determination Notice. Upon the giving of such termination notice, all obligations hereunder provisions hereof with respect to periods from waiver of subrogation. Tenant acknowledges that Owner will not carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenance removable by Tenant and after agrees that Owner will not be obligated to repair any damage thereto or replace the effective date same, (f) Tenant hereby waives the provisions of termination shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, to the extent Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Arista Investors Corp

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner, subject to Owner's right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided. (d) If the demised premises are rendered wholly unusable (whether or not the demised premises are damaged in whole or in part) the building shall be so damaged that Owner shall decide to demolish it to rebuild it, including the Improvements then, in any of such events, owner may elect to be insured terminate this lease by written notice to Tenant, but only given within 90 days after such fire casualty, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Owner's rights and remedies against Tenant under the extent Landlord receives lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein. Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination noticefor recovery for loss or damage resulting from fire or other casualty, 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 that such insurance proceeds, make such repair or restoration of the Demised Premises is in force and collectible and to the approximate condition existing prior to such casualtyextent permitted by law, promptly Owner and in such manner as not to unreasonably interfere with Tenant’s use Tenant each hereby releases and occupancy waives all right of recovery against 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 other or any part thereof are unusable by reason of any such damage thereto.one claiming through or

Appears in 1 contract

Samples: Agreement of Lease (Jupiter Communications Inc)

Fire and Other Casualty. In 9. (a) if the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall commence in full force and effect except as hereinafter set forth (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner, subject to Owner's right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, including the Improvements then, in any of such events, Owner may elect to be insured terminate this lease by written notice to Tenant, but only given within 90 days after such fire or casualty, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Landlord's rights and remedies against Tenant under the extent Landlord receives lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration, by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenants salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law. Owner and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefitting from the waiver shall pay such premium within thirty (30) ten days after Tenant’s receipt written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the Determination Notice. Upon the giving of such termination notice, all obligations hereunder provisions hereof with respect to periods from waiver of subrogation. Tenant acknowledges that owner will not carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenances removable by Tenant and after agrees that Owner will not be obligated to repair any damage thereto or replace the effective date same. (f) Tenant hereby waives the provisions of termination shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, to the extent Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Broadview Networks Holdings Inc

Fire and Other Casualty. In If the event the Demised Premises are base Building is damaged by fire or other casualty insured and if this Lease is not terminated by LandlordLandlord or Tenant (as provided below), Landlord agrees to promptly restore and shall diligently repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only damage to the extent base Building to substantially the same condition as existing immediately prior to the damage, and Landlord receives insurance proceeds thereforshall have no obligation to repair damage to or replace tenant improvements (including any Tenant Work or Alterations), including Tenant’s Personal Property or any other property owned by Tenant and located in the proceeds Premises, and the Lease shall not terminate. If (a) the entire Premises are rendered untenantable by reason of any such damage, Annual Base Rent and Additional Rent shall xxxxx for the period from the insurance required date of the damage to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are earlier of (i) in the reasonable opinion of Landlorddate Tenant has substantially completed its restoration work, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270ii) ninety (90) days after the date the damage to the base Building is repaired as reasonably determined by Landlord, and Tenant is allowed into the Premises to commence construction of its restoration work, or (b)only a part of the Premises are so rendered untenantable, Annual Base Rent and Additional 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, however, that in all events Tenant shall pay rent with respect to any portion(s) of the Premises actually used by Tenant and provided further, 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 used or occupied by or through Tenant, then the amount by which Annual Base Rent and Additional Rent abates shall be apportioned for the period from the date of such damage; actual or (ii) destroyed by a casualty which is not covered available use or occupancy to the date when all the damage has been repaired as reasonably determined by Landlord’s insurance. Tenant hereby waives any right under applicable Law to terminate this Lease in the event of a casualty, and no compensation or reduction of rent shall be paid or allowed by Landlord for inconvenience, annoyance, or if injury to Tenant’s business arising from the fire or other casualty or the need to repair the Premises or the Building. No later than [redacted] after any material fire or other casualty to the Building, Landlord shall deliver to Tenant a written opinion of a qualified professional selected by Landlord setting forth the estimated time to restore the base Building to substantially the condition it was in prior to such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination NoticeRestoration Estimate). If (a) the Restoration Estimate indicates that the base Building cannot be fully repaired within [redacted] after the date of the casualty, (b) Landlord was maintaining property insurance customary for similar buildings, but insurance proceeds, plus the Landlord’s deductible, are insufficient to pay the full cost of repair and restoration, and Landlord terminates leases relating to at least [redacted] of the Building, or (c) zoning or other applicable Laws or regulations do not permit such repair or restoration, then Landlord, at its option, may give Tenant, within sixty (60) days after the fire or other casualty, written notice of such casualty. Either Landlord or Tenant may terminate and cancel AFDOCS//21459967 termination of this Lease effective as of and, in the date of event such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 this Lease and the extent Term shall terminate (whether or not the Term shall have commenced) upon the expiration of [redacted] from the date of delivery of such notice with the same effect as if the date of expiration of the available insurance proceeds, make such repair or restoration [redacted] were the date initially fixed for expiration of the Demised Premises to Term, and all rent shall be apportioned as of such date. Additionally, if the approximate condition existing prior to such Restoration Estimate indicates that the base Building cannot be fully repaired within [redacted] after the date of the fire or other casualty, promptly then Tenant shall have the right to terminate this Lease, but only by delivering written notice of termination to Landlord within [redacted] after delivery of the Restoration Estimate, in which event this Lease and in such manner as the Term shall terminate (whether or not to unreasonably interfere with the Term shall have commenced) upon the expiration of [redacted] from the date of delivery of Tenant’s use and occupancy notice with the same effect as if the date of expiration of the Demised Premises [redacted] were the date initially fixed for expiration of the Term, and all rent shall be apportioned as of such date. In addition, if Landlord fails to fully restore the base Building on or before the later of (i) [redacted] after the date of the fire or other casualty, or (ii) [redacted] after the date set forth in the Restoration Estimate, then Tenant shall have the right to terminate this Lease, but only by delivering written notice of termination to Landlord within [redacted] after the date such termination option right arose, in which event this Lease and the Term shall terminate (whether or not the Term shall have commenced) upon the expiration of [redacted] from the date of delivery of such notice with the same effect as if Tenant is still occupying the Demised Premises). Base Rent date of expiration of the [redacted] were the date initially fixed for expiration of the Term, and Additional Rent all rent shall proportionately xxxxx during the time that the Demised Premises or any part thereof are unusable by reason be apportioned as of any such damage theretodate.

Appears in 1 contract

Samples: Office Lease (Aurinia Pharmaceuticals Inc.)

Fire and Other Casualty. In the event (A) If the Demised Premises are shall be damaged or destroyed by fire or other casualty insured by casualty, then Tenant shall give notice thereof to Landlord, and except as hereinafter otherwise provided, Landlord agrees to promptly shall, within reasonable time thereafter, repair or restore and repair the Demised Premises at Landlord’s expense, including to substantially the Improvements same condition the Demised Premises were in prior to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvementssuch 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 event that 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 are (i) in should be so extensive as to render the reasonable opinion whole or any part thereof untenable or unsuitable for use and occupancy by Tenant, a just proportion of Landlordthe minimum rent, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after according to the date nature and extent 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 the injury to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written be suspended or abated until occupancy the Demised Premises shall be repaired or restored as provided in the 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, at its election, may terminate the term of this Lease by a notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt such damage or destruction. It is also agreed and understood that if during the last six (6) months of the Determination Notice. Upon term of this Lease the giving of such termination notice, all obligations hereunder with respect to periods from and after the effective date of termination Demised Premises shall thereupon cease and terminate. If no such termination notice is given, Landlord 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 available insurance proceedsterm of this Lease by a notice to Landlord within thirty (30) days after such damage or destruction. In the event of any termination of the term of this Lease pursuant to the provisions of this Article, make such the termination shall be effective on the fifteenth (15th) day after the giving of the notice of termination. 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 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 resume its business therein. If Landlord shall not substantially complete repair and restoration of the Demised Premises to the approximate condition existing 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 such casualtythe Deadline Tenant shall give notice to the Landlord that Tenant then elects to continue the term of this Lease thereafter, 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 shall so elect then this sentence shall thereafter be void and Additional Rent shall proportionately xxxxx during the time that the Demised Premises of no further force or any part thereof are unusable by reason of any such damage theretoeffect.

Appears in 1 contract

Samples: Lease Agreement (A123 Systems Inc)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises of any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Landlord and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Landlord and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by fire or other casualty, then the rent shall be proportionately paid up to the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Landlord, subject to Landlord's right to elect not to restore the same as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Landlord agrees shall decide to promptly restore demolish it or to rebuild it, then, in any of such events, Landlord may elect to terminate this lease by written notice to Tenant given within 90 days after such fire or casualty specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and repair upon the Demised Premises at date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Landlord’s expense's rights and remedies against Tenant under the lease provisions in effect prior to such termination, including and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Landlord shall serve a termination notice as provided for herein, Landlord shall make the Improvements repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition subject to be insured delays due to adjustment of insurance claims, labor troubles and causes beyond Landlord's control. After any such casualty, Tenant shall cooperate with Landlord's restoration by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Landlord that the premises are substantially ready for Tenant's occupancy. (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination noticefor recovery for loss or damage resulting from fire or other casualty, 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 that such insurance is in force and collectible and to the extent permitted by law, Landlord and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance and also, provided that such a policy can be obtained without additional premiums. Tenant acknowledges that Landlord will not carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenances removable by Tenant and agrees that Landlord will not be obligated to repair any damage thereto or replace the same. (f) Tenant hereby waives the provisions of Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Icc Technologies Inc

Fire and Other Casualty. In If the event Premises or the Demised Premises Building are damaged made untenantable by fire or other casualty insured by Landlord, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expensecasualty, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion damage or casualties of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 givenwar, Landlord shall, to the extent permitted by all mortgages and ground leases on the Building, 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, including the tenant improvements, if any, performed by Landlord pursuant to Landlord’s Work or, if the Premises have been leased on an “as is” basis and accordingly no tenant improvements were performed by Landlord in the Premises, to similar improvements located in the Premises on the date of this Lease, and, at Landlord’s option, Tenant may be permitted or required to devote the proceeds of its insurance covering tenant improvements to cause restoration of tenant improvements over and above those performed or paid for by Landlord pursuant to Landlord’s Work or “as is,” as the case may be, and pay for same to Landlord or through Landlord as if newly done pursuant to Section 5 of this Lease. In the event fire or other casualty occurs and both Landlord and Tenant are insured, it is agreed that the coverage of the available Landlord shall be primary and that Landlord’s recovery in no event shall be reduced by any insurance proceedsrecovery to Tenant. Notwithstanding anything in this Section 8.1 to the contrary, if a registered architect selected by Landlord licensed to do business in New Jersey should certify that such work to the Premises cannot be accomplished by using standard working methods and procedures so as to make the Premises tenantable within twelve (12) months from the date the rehabilitation is started or within two (2) months from such repair or restoration date if the Lease term has less than eighteen (18) months remaining, 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 Demised architect’s certificate. If said fire or other casualty results in total destruction of the Building, this Lease shall automatically terminate as of the date of said fire or other casualty. In case of fire or other casualty not resulting in termination of this Lease, rent shall be abated on a per diem basis while the Premises are untenantable. If Tenant continues to conduct its business or profession in whole or in part from a portion of the approximate condition existing prior to Premises after such casualty, promptly rent for space shall be abated pro rata with rent being charged only for the tenantable area. In case of termination of this Lease, rent shall be apportioned on a per diem basis and in such manner as not be paid to unreasonably interfere with Tenant’s use and occupancy the date 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 fire or any part thereof are unusable by reason of any such damage theretoother casualty.

Appears in 1 contract

Samples: Lease (Celldex Therapeutics, Inc.)

Fire and Other Casualty. In the event (A) If the Demised Premises are shall be damaged or destroyed by fire or other casualty insured by casualty, then Tenant shall give notice thereof to Landlord, and except as hereinafter otherwise provided, Landlord agrees to promptly shall, within reasonable time thereafter, repair or restore and repair the Demised Premises at Landlord’s expense, including to substantially the Improvements same condition the Demised Premises were in prior to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvementssuch 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 event that 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 are (i) in should be so extensive as to render the reasonable opinion whole or any part of Landlordthereof untenable or unsuitable for use and occupancy by Tenant, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after a just proportion of the date minimum rent, according to the nature and extent 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 the injury to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written be suspended or abated until occupancy the Demised Premises shall be repaired or restored as provided in the 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, at its election may terminate the term of this Lease by a notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt such damage or destruction. It is also agreed and understood that if during the last six (6) months of the Determination Notice. Upon term of this Lease the giving of such termination notice, all obligations hereunder with respect to periods from and after the effective date of termination Demised Premises shall thereupon cease and terminate. If no such termination notice is given, Landlord 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 available insurance proceedsterm of this Lease by a notice to Landlord within thirty (30) days after such damage or destruction. In the event of any termination of the term of this Lease pursuant to the provisions of this Article, make such the termination shall be effective on the fifteenth (15th) day after the giving of the notice of termination. 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 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 resume its business therein. If Landlord shall not substantially complete repair and restoration of the Demised Premises to the approximate condition existing 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 such casualtythe Deadline Tenant shall give notice to the Landlord that Tenant then elects to continue the term of this Lease thereafter, 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 shall so elect then this sentence shall thereafter be void and Additional Rent shall proportionately xxxxx during the time that the Demised Premises of no further force or any part thereof are unusable by reason of any such damage theretoeffect.

Appears in 1 contract

Samples: Lease Agreement (A123 Systems Inc)

Fire and Other Casualty. In the event the Demised Premises are damaged by case of fire or other casualty insured by Landlordaffecting the Demised Premises, Tenant shall give immediate notice to Landlord agrees or, in case of fire or other casualty affecting the Property other than the Demised Premises, Tenant shall give immediate notice to promptly restore and repair Landlord upon Tenant obtaining knowledge of such fire or casualty. If the Demised Premises at Landlord’s expenseshall be partially damaged by fire, including the Improvements to be insured by Tenantelements or other casualty, Landlord shall repair the same as speedily as practicable, but only Tenant’s obligation to pay the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the ImprovementsRent hereunder shall not cease. Notwithstanding the foregoingIf, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, the Demised Premises is so extensively and substantially damaged as to render them untenantable, then the Rent shall cease until such time as the Demised Premises shall be made tenantable by Landlord. However, if, in the opinion of Landlord, the Demised Premises is totally destroyed that they cannot or so extensively and substantially damaged as to require practically a rebuilding thereof, then the Rent shall be repaired or rebuilt within two hundred seventy (270) days after paid up to the date time of such damage; destruction and then and from thenceforth this Lease shall automatically and without notice come to an end. In no event however, shall the provisions of this clause become effective or (ii) destroyed by a be applicable, if the fire or other casualty which is not covered and damage shall be the result of the carelessness, negligence or improper conduct of Tenant or Tenant’s agents, employees, guests, licensees, invitees, subtenants, assignees or successors. In such case, Tenant’s liability for the payment of the Rent and the performance of all the covenants, conditions and terms hereof on Tenant’s part to be performed shall continue and Tenant shall be liable to Landlord for the damage and loss suffered by Landlord’s insurance. If Tenant shall have been insured against any of the risks herein covered, or if then the proceeds of such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available shall be paid over to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 Landlord’s costs and expenses to make the available repairs hereunder, and such 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent carriers shall proportionately xxxxx during the time that the Demised Premises or any part thereof are unusable by reason of any such damage theretohave no recourse against Landlord for reimbursement.

Appears in 1 contract

Samples: Lease Agreement (Advaxis, Inc.)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner, subject to Owner's right to elect not to restore the same as hereinafter provided and repair Tenant's right to terminate. (d) If the Demised Premises at Landlord’s expensedemised premises are rendered wholly unusable or (whether or not the demised premises are damaged in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, including the Improvements then, in any of such events, Owner may elect to be insured terminate this lease by written notice to Tenant, but only to given within 30 days after such fire or casualty, specifying a date for the extent Landlord receives insurance proceeds thereforexpiration of the lease, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they canwhich date shall not be repaired or rebuilt within two hundred seventy (270) more than 60 days after the date giving of such damage; or (ii) destroyed by a casualty which is not covered by Landlord’s insurancenotice, or and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such casualty is covered date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Owner's rights and remedies against Tenant under the leases provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Landlord’s insurance but Lender or other party entitled Tenant which were on account of any period subsequent to insurance proceeds fails such date shall be returned to make such proceeds available to Landlord in an amount sufficient for restoration Tenant. If more than 50% of the Demised Premisesdemised premises are rendered wholly unusable and remain so for at least 360 days after such fire or casualty, then Landlord Tenant shall give written notice have the right to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective Lease, as of the date of such casualty by giving written notice to Landlord, with the same force and effect as if such date were the date set forth above for the termination of this Lease. This right to terminate shall not apply if Landlord has commenced re-construction work at the building and/or the demised premises within 360 days of such casualty and Landlord proceeds diligently to completion of such reconstruction shall serve a termination notice as provided for herein. Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other party within property. Tenant's liability for rent shall resume thirty (30) days after written notice from Owner that the premises are substantially ready for Tenant’s receipt of 's occupancy. (e) Notwithstanding the Determination Notice. Upon foregoing, each party shall look only to any insurance in its favor before making any claim against the giving of such termination noticeother party for recovery for loss or damage resulting from fire or other casualty, 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 that such insurance proceeds, make such repair or restoration of the Demised Premises is in force and collectible and to the approximate condition existing prior to such casualty, promptly extent permitted by law. Owner and in such manner as not to unreasonably interfere with Tenant’s use Tenant each hereby releases and occupancy waives all right of recovery against 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 other or any part thereof are unusable one claiming through or under each of them by reason way of any such damage thereto.subrogation or otherwise. The foregoing

Appears in 1 contract

Samples: Agreement of Lease (Alloy Online Inc)

Fire and Other Casualty. In the event the Demised Premises are damaged by case of fire or other casualty insured by Landlordaffecting the Demised Premises, Tenant shall give immediate notice to Landlord agrees or, in case of fire or other casualty affecting the Property other than the Demised Premises, Tenant shall give immediate notice to promptly restore and repair Landlord upon Tenant obtaining knowledge of such fire or casualty. If the Demised Premises at Landlord’s expenseshall be partially damaged by fire, including the Improvements to be insured by Tenantelements or other casualty, Landlord shall repair the same as speedily as practicable, but only Tenant’s obligation to pay the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the ImprovementsRent hereunder shall not cease. Notwithstanding the foregoingIf, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, the Demised Premises is so exten-sively and substantially damaged as to render them untenantable, then the Rent shall cease until such time as the Demised Premises shall be made tenantable by Landlord. However, if, in the opinion of Landlord, the Demised Premises is totally destroyed that they cannot or so extensively and substantially damaged as to require practically a rebuilding thereof, then the Rent shall be repaired or rebuilt within two hundred seventy (270) days after paid up to the date time of such damage; destruction and then and from thenceforth this Lease shall automatically and without notice come to an end. In no event however, shall the provisions of this clause become effective or (ii) destroyed by a be applicable, if the fire or other casualty which is not covered and damage shall be the result of the carelessness, negligence or improper conduct of Tenant or Tenant’s agents, employees, guests, licensees, invitees, subtenants, assignees or successors. In such case, Tenant’s liability for the payment of the Rent and the performance of all the cov-enants, conditions and terms hereof on Tenant’s part to be performed shall continue and Tenant shall be liable to Landlord for the damage and loss suffered by Landlord’s insurance. If Tenant shall have been insured against any of the risks herein covered, or if then the proceeds of such casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available shall be paid over to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 Landlord’s costs and expenses to make the available repairs hereunder, and such 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent carriers shall proportionately xxxxx during the time that the Demised Premises or any part thereof are unusable by reason of any such damage theretohave no recourse against Landlord for reimbursement.

Appears in 1 contract

Samples: Lease Agreement (Xenomics Inc)

Fire and Other Casualty. In the event of damage to, or total or partial destruction of, the Demised Premises are damaged Building or any fixtures, equipment, or systems which constitute a part of the Building by fire or other casualty insured by Landlord(“Casualty Damage”), subject to the terms and conditions of this Section, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expenseshall, including the Improvements to be insured by Tenant, but only to the extent Landlord receives that insurance proceeds are available therefor, cause the prompt and diligent repair and replacement of the Building and the Leased Premises as soon as reasonably possible so that it is in substantially the same condition as existed prior to the Casualty Damage; provided that Landlord shall not be obligated to repair or replace any item which was not part of the Landlord’s Work, including without limitation, any alterations, improvements or additions of or to the proceeds from the insurance required to be carried Leased Premises made by Tenant on the ImprovementsTenant. Notwithstanding the foregoingforegoing provision of this Section, in the event that event: (a) the Demised portions of the Leased Premises to be restored by Landlord are (i) in the reasonable opinion of Landlord, so damaged or destroyed that they cannot be repaired restored within one hundred eighty (180) days after the date of the damage or rebuilt destruction, (b) the damage or destruction is not covered by the “Special Form” property insurance policy to be maintained by Landlord in accordance with Section 12 hereof and Landlord does not undertake to commence restoration of the Leased Premises within ninety (90) days after the date of such damage or destruction, (c) the insurance proceeds (reduced by any application thereof by Landlord’s mortgagee to its mortgage debt) are insufficient for restoration of the Leased Premises and Landlord does not undertake to commence such restoration within ninety (90) days after the date of such damage or destruction, or (d) applicable law does not permit the restoration of the Leased Premises to substantially the same condition as at the commencement of the Lease Term; then Landlord shall not be obligated to restore the Leased Premises and Landlord may, within ninety (90) days following the damage or destruction, terminate and cancel this Lease upon fifteen (15) days written notice to Tenant, and all obligations hereunder except those due or mature shall thereupon cease and terminate. Notwithstanding the foregoing, if Landlord fails to complete repairs to the Premises within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of the casualty, subject to Force Majeure and Tenant Delays, or if Landlord ceases to diligently pursue the repairs, then Tenant shall have the right to terminate the Lease upon written notice delivered to Landlord at any time after such casualty by giving two hundred seventy (270) day period and prior to Landlord’s Substantial Completion of such repairs. If substantial Casualty Damage occurs during the last year of the Lease Term, unless Tenant exercises its Renewal Option (which Tenant may exercise at such time regardless of any time periods set forth in Section 2(b)), then Landlord or Tenant, at their respective option, may terminate this Lease upon ninety (90) days’ written notice to the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination noticeparty, and all obligations hereunder with respect to periods from and after the effective date of termination hereunder, except those due or mature, 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent shall be abated proportionately xxxxx during (based upon the time proportion that the Demised Premises unusable space in the Building due to a Casualty Damage bears to the total space in the Building) for each day that the Building or any part thereof are is unusable by reason of any such damage theretoCasualty Damage.

Appears in 1 contract

Samples: Lease (Dirtt Environmental Solutions LTD)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by Landlordfire or other casualty, Landlord agrees then the rent shall be proportionately paid up to promptly the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner, subject to Owner's right to elect not to restore and the same as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, or if the damage shall result in an election by the unit owners of the Condominium, pursuant to the provisions of Section 339-cc of the Real Property Law, not to repair or restore the Demised Premises at Landlord’s expenseBuilding, including the Improvements then, in any of such events. Owner may elect to be insured terminate this lease by written notice to Tenant, but only given within 90 days after such fire or casualty, specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Landlord's rights and remedies against Tenant under the extent Landlord receives lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. (c) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law. Owner and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release 5 or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefitting from the waiver shall pay such premium within thirty (30) ten days after Tenant’s receipt written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the Determination Notice. Upon the giving of such termination notice, all obligations hereunder provisions hereof with respect to periods from waiver of subrogation. Tenant acknowledges that Owner will not carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenances removable by Tenant and after agrees that Owner will not be obligated to repair any damage thereto or replace the effective date same. (f) Tenant hereby waives the provisions of termination shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, to the extent Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage theretothis article shall govern and control in lieu thereof.

Appears in 1 contract

Samples: Launch Media Inc

Fire and Other Casualty. In the event of damage to, or total or partial destruction of, the Demised Premises are damaged Building or any fixtures, equipment, or systems which constitute a part of the Building by fire or other casualty insured (“Casualty Damage”), the insurance proceeds, if any, which, as a result of the Casualty Damage, are payable under any “Special Form” property insurance maintained by Tenant pursuant to Section 12(b) above shall be payable to, and be the sole property of, Landlord, and Tenant shall pay to Landlord agrees the amount of any deductible or co-insurance feature applicable to promptly restore such insurance policy. Subject to the terms and repair the Demised Premises at Landlord’s expenseconditions of this Section, including the Improvements to be insured by TenantLandlord shall, but only to the extent Landlord receives that insurance proceeds (including any deductible or co-insurance amounts provided by Tenant) are available therefor, cause the prompt and diligent repair and replacement of the Building and the Leased Premises as soon as reasonably possible so that it is in substantially the same condition as existed prior to the Casualty Damage; provided that Landlord shall not be obligated to repair or replace any item which was not part of the Improvements existing as of the Effective Date or the Tenant Finish Work, including without limitation, any alterations, improvements or additions of or to the proceeds from the insurance required to be carried Leased Premises made by Tenant on the ImprovementsTenant. Notwithstanding the foregoingforegoing provision of this Section, in the event that event: (a) the Demised portions of the Leased Premises to be restored by Landlord are (i) in the reasonable opinion of Landlord, so damaged or destroyed that they cannot be repaired restored within nine (9) months after the date of the damage or rebuilt destruction, (b) the damage or destruction is not covered by the “Special Form” property insurance policy to be maintained by Landlord in accordance with Section 12 hereof and Landlord does not undertake to commence restoration of the Leased Premises within two one hundred seventy fifty (270150) days after the date of such damage; damage or destruction, (iic) destroyed the insurance proceeds (reduced by a casualty which is not covered any application thereof by Landlord’s insurance, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled mortgagee to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient its mortgage debt) are insufficient for restoration of the Demised PremisesLeased Premises and Landlord does not undertake to commence such restoration within one hundred fifty (150) days after the date of such damage or destruction, or (d) applicable law does not permit the restoration of the Leased Premises to substantially the same condition as at the commencement of the Lease Term; then Landlord shall give written notice not be obligated to Tenant of such determination restore the Leased Premises and Landlord may, after one hundred fifty (the “Determination Notice”) within sixty (60150) days of such casualty. Either Landlord following the damage or Tenant may destruction, terminate and cancel this Lease effective as of the date of such casualty by giving upon fifteen (15) days written notice to the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination notice, and all obligations hereunder with respect to periods from and after the effective date of termination except those due or mature shall thereupon cease and terminate. If no such termination substantial Casualty Damage occurs during the last year of the Lease Term, then Landlord or Tenant, at their respective option, may terminate this Lease upon ninety (90) days’ written notice is given, Landlord shall, to the extent of the available insurance proceedsother party, make such repair and all obligations hereunder, except those due or restoration of the Demised Premises to the approximate condition existing prior to such casualtymature, promptly shall cease 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)terminate. Base Rent and Additional Rent shall be abated proportionately xxxxx during (based upon the time proportion that the Demised Premises unusable space in the Building due to a Casualty Damage bears to the total space in the Building) for each day that the Building or any part thereof are is unusable by reason of any such damage theretoCasualty Damage.

Appears in 1 contract

Samples: Lease (Aqua Power Systems Inc.)

Fire and Other Casualty. In (a) If the event Building or other improvements on the Demised Premises are Land shall be damaged or destroyed by fire or other casualty insured by casualty, 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 Lender (if applicable) and of Landlord) and arrange for the disbursement of insurance proceeds, Landlord agrees and repair, rebuild or replace such Building and other improvements, so as to promptly restore and repair the Demised Premises at Landlord’s expenseto 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 Lender (provided that such Lender is a bank, including savings association, insurance company or other similar institutional lender; herein called "Institutional Lender"), or, if no Institutional Lender then holds a Mortgage on the Improvements Demised Premises, by any national or state chartered bank which is reasonably acceptable to Landlord and Tenant; and the Net Insurance Proceeds shall be insured by released for the purpose of paying the fair and reasonable cost of restoring such Building and other improvements. Such Net Insurance Proceeds shall be released to Tenant, but only or to Tenant's contractors, from time to time as the extent work progresses, pursuant to such requirements and limitations as may be reasonably acceptable to Landlord receives insurance proceeds thereforand Lender (if the Lender so requires), including including, without limitation, lien waivers from each of the proceeds from contractors, subcontractors, materialmen and suppliers performing the insurance required work. If the Net Insurance Proceeds (less any applicable deductible) are insufficient to restore the Demised Premises, Tenant shall be carried by Tenant on obligated to pay such deficiency and the Improvementsamount of any such deductible. Notwithstanding the foregoing, in if the event that Net Insurance Proceeds are less than Twenty-Five Thousand Dollars ($25,000.00), such Net Insurance Proceeds may be held by Tenant and used by Tenant to pay the fair and reasonable cost of restoring such Demised Premises are (i) in and other improvements. If the reasonable opinion Net Insurance Proceeds exceed the full cost of Landlordthe repair, so destroyed that they cannot be repaired rebuilding or rebuilt within two hundred seventy (270) days after replacement of the date damaged Building or other improvements, then the amount 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord excess Net Insurance Proceeds shall give written notice be paid to Tenant upon the completion of such determination (the “Determination Notice”) within sixty (60) days of such casualtyrepair, rebuilding or replacement. Either Landlord agrees not unreasonably to withhold, condition or delay any approvals required to be obtained by Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice from Landlord pursuant to the other party within thirty (30) days after Tenant’s receipt provisions of the 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premisesthis Section 21(a). 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 thereto.

Appears in 1 contract

Samples: Suit Industrial Lease Agreement (Global Directmail Corp)

Fire and Other Casualty. SECTION 9. In the event the Demised Premises are building on the demised premises is damaged or destroyed by fire, casualty, or disaster, the Landlord shall promptly cause the same to be substantially restored to the prior existing condition, subject to such changes as the Tenant may reasonably require (provided, however, that such changes will not increase the cost of restoration unless Tenant agrees to pay for such increased cost); due allowance, however, shall be made for a reasonable time necessary for the Landlord to adjust the loss with insurance companies insuring the demised premises at the time of the happening of the fire, or other casualty, and due allowance is to be made for delay occasioned by strikes, lockouts, and conditions beyond the control of the Landlord. In the event of total destruction of the demised premises, and the Landlord fails to completely restore and rebuild same within one year after such fire, casualty, or disaster, then and in that event Tenant may, at its option, elect to terminate and cancel this lease, in which event this lease shall, upon written notice from the Tenant to the Landlord, be terminated, and cancelled, and neither party shall thereafter have any further obligation with respect to the other. Should the demised premises, or a portion thereof, be rendered untenantable by reason of damage or destruction thereof by fire, casualty or disaster during the term of this lease as provided in this section, the rent shall xxxxx in proportion to the areas of the demised premises rendered untenantable from the date of the happening of the fire or other casualty insured by Landlordor disaster, Landlord agrees up to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for the restoration of the Demised Premisespremises. However, then Landlord no rent shall give written notice accrue for any portion of the premises unless Tenant is able to Tenant conduct its usual business on that portion of such determination (the “Determination Notice”) within sixty (60) days of such casualtypremises that remain tenantable. Either Landlord or Tenant may terminate and cancel this Lease effective as of If, at the date of the happening of the fire or other disaster, the Tenant shall have paid any rent for a period beyond such casualty date, the Tenant shall be entitled to a proportionate refund. It is further agreed that if such damage occurs during the last two (2) years of the original term or any extended term and the cost of restoration amounts to more than one-third (1/3) of the replacement value of the building, as certified to by giving a reputable, registered architect, Landlord and Tenant shall each have the right to terminate this lease, on written notice to the other party within given thirty (30) days after Tenant’s receipt such occurrence unless the Tenant shall elect to renew this lease for an additional period of the 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 use and occupancy of the Demised Premises five (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 thereto5) years.

Appears in 1 contract

Samples: Lease Agreement (Basic Us Reit Inc)

Fire and Other Casualty. In If the event the Demised Premises are damaged by fire or other casualty insured by Landlord(a “Casualty“), Landlord agrees shall, within ninety (90) days after such Casualty, deliver to promptly restore and Tenant a good faith estimate (the “Damage Notice“) of the time needed to repair the Demised damage caused by such Casualty. If a material portion of the Premises at Landlord’s expense, including the Improvements to be insured is damaged by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds Casualty such that Tenant is prevented from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, conducting its business in the event Premises in a manner reasonably comparable to that conducted immediately before such Casualty (a “Material Casualty”) and Landlord estimates in the Damage Notice that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they damage caused thereby cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of (the Demised Premises“Repair Period“), then Landlord shall give Tenant may terminate this Lease by delivering written notice to Tenant Landlord of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may its election to terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after the Damage Notice has been delivered to Tenant’s receipt . Notwithstanding the foregoing, if Landlord, in its sole discretion, determines that the Premises will not be restored within the Repair Period or that there will be insufficient insurance proceeds available to Landlord to accomplish same, then Landlord shall have the right to terminate this Lease by written notice given to Tenant within ninety (90) days after the occurrence of the Determination Notice. Upon the giving of Casualty (in such termination noticeevent, all obligations hereunder with respect to periods from and after the effective date such notice of termination shall thereupon cease and terminatebe in lieu of Landlord’s delivery of the Damage Notice). Notwithstanding any provision of this Section 9.1 to the contrary, in the event of a Material Casualty that occurs during the last Lease Year of the Lease Term that Landlord estimates in the Damage Notice will take more than 180 days following the date of the Casualty to restore, either party may terminate this lease upon thirty (30) days written notice to the other party. If no such termination notice this Lease is givennot terminated pursuant to the preceding paragraph, then Landlord shall, promptly following the availability of insurance proceeds for such purpose, begin to repair the Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same condition as they existed immediately before such Casualty; however, Landlord shall not be required to repair or replace any Alterations or improvements made by Tenant or at Tenant’s request within the Premises or any furniture, equipment, trade fixtures or personal property of Tenant or others in the Premises or the Building, and Landlord’s obligation to repair or restore the Premises shall be limited to the extent of the available insurance proceeds, make such repair proceeds actually received by Landlord for the Casualty in question. In the event the Premises have not been restored to a condition substantially suitable for their intended purpose on or restoration before expiration of the Demised Premises Repair Period, then either Landlord or Tenant may terminate this Lease by written notice to the approximate condition existing prior to such casualty, promptly and in such manner as not to unreasonably interfere with Tenant’s use and occupancy other within five (5) business days following expiration of the Demised Premises (if Tenant is still occupying Repair Period. In the Demised Premises). Base Rent and Additional Rent shall proportionately xxxxx event that at any time during the time that Lease Term the Demised Premises are damaged or destroyed by fire or other casualty so as to render the Premises or any part portion thereof untenantable, then there shall be a just and proportionate abatement of the Rent payable hereunder until the Premises are unusable made suitable for Tenant’s occupancy (including a reasonable period of time for the repair or replacement of tenant’s improvements in the Premises and the installation of Tenant’s furniture, equipment, trade fixtures and other personal property) and the Lease Term shall be extended, without the necessity of further action by reason of any such damage theretoparty, for a period equal to the time during which Rent so abated.

Appears in 1 contract

Samples: Lease by And (Avici Systems Inc)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Landlord and this lease shall continue in full force and effect except as hereinafter set forth. (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Landlord and the rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty insured according to the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable or inaccessible by fire or other casualty, then the rent shall be proportionately paid up to the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by, subject to Landlord's right to elect not to restore the same as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises pro damaged in whole or in part) if the building shall be so damaged that Landlord shall decide to demolish it or to rebuild it, then, in any of such events, Landlord agrees may elect to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements terminate this lease by written notice to be insured by Tenant, but only given within 90 days after such fire or casualty specifying a date for the expiration of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Landlord's rights and remedies against Tenant under the extent lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Landlord receives shall serve a termination notice as provided for herein, Landlord shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Landlord's control. After any such casualty, Tenant shall cooperate with Landlord's restoration by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Landlord that the premises are substantially ready for Tenant's occupancy. (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to its favor before making any claim against the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination noticefor recovery for loss or damage resulting from fire or other casualty, 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 that such insurance is in force and collectible and to the extent permitted by law, Landlord and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance and also, provided that such a policy can be obtained without additional premiums. Tenant acknowledges that Landlord will not carry insurance on Tenant's furniture and or furnishings or any fixtures or equipment, improvements, or appurtenances removable by Tenant and agrees that Landlord will not be obligated to repair any damage thereto or replace the same. (f) Tenant hereby waives the provisions of Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage thereto.this article shall govern and control in lieu thereof. 6

Appears in 1 contract

Samples: Health Management Systems Inc

Fire and Other Casualty. In the event of the Demised total or partial destruction of the Premises are damaged by fire or other casualty insured casualty, the insurance proceeds, if any, which as a result of such destruction are payable under the fire and extended coverage insurance to be maintained by Landlord shall be payable to, and be the sole property of, Landlord. Landlord and Tenant shall rebuild, repair and restore the Premises in accordance with the original construction obligations set forth in Article 5 (except that Landlord shall rebuild, repair and restore those parts of Tenant's original construction obligations, alterations, improvements, additions and leasehold improvements covered by the policy of fire and extended coverage insurance to be maintained by Landlord); provided, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expensehowever, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, that in the event that (a) the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they the Premises cannot be repaired restored within one hundred eighty (180) days after the date of the damage or rebuilt destruction, (b) the damage or destruction is not covered by the policy of broad form fire and extended coverage insurance to be maintained by Landlord and Landlord does not undertake to restore the Premises within two hundred seventy ninety (27090) days after the date of such damage; damage or destruction, or (iic) destroyed the insurance proceeds (reduced by a casualty which is not covered any application thereof by Landlord’s insurance, or if such casualty is covered by Landlord’s insurance but Lender or other party entitled 's mortgagee to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient its mortgage) are insufficient for restoration of the Demised PremisesPremises and Landlord does not undertake such restoration within ninety (90) days after the date of such damage or destruction, then Landlord shall give written notice not be obligated to Tenant of such determination (restore the “Determination Notice”) within sixty (60) days of such casualty. Either Premises, and either Landlord or Tenant may then terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within upon thirty (30) days after Tenant’s receipt of written notice to the Determination Notice. Upon the giving of such termination noticeother, and all obligations hereunder with respect to periods from and after the effective date of termination except those then due or mature 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 use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Monthly Rent shall proportionately xxxxx during the time that the Demised Premises or any part thereof are is unusable by reason of any such damage thereto.

Appears in 1 contract

Samples: Lease Agreement (Browsesafe Com Inc)

Fire and Other Casualty. (a) In the event the Demised Premises are damaged by case of fire or other casualty insured casualty, Tenant shall give immediate notice to Landlord. If the Premises shall be damaged by Landlordfire, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 elements or other party entitled to insurance proceeds fails to make such proceeds available to Landlord casualty and the lease shall not terminate as hereinafter provided in an amount sufficient for restoration of the Demised Premisesthis paragraph 9, then Landlord shall give written notice repair the same in accordance with the provisions of this Paragraph 9. Landlord shall proceed diligently to Tenant repair or restore the Premises to a condition of such determination (like kind and quality as delivered by Landlord at the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate Commencement Date, and cancel this Lease effective as Tenant's obligation to pay Rental hereunder shall abate, in the same proportion whicx xxx square footage of the date portion of such casualty by giving written notice the Building rendered untenantable bears to the other party total square footage of the Building, until such time as Landlord shall Substantially Complete the repair or restoration of the Building. If any casualty should result in all or any portion of the Building not being able to be refrigerated in accordance with the provisions of Exhibit B, the Building or such portion thereof shall be deemed to be untenantable for purposes of this Paragraph 9. So long as Landlord is not in default of any of the terms, covenants or conditions of this lease, a sum equal to the deductible amounts set forth in the casualty and/or comprehensive boiler and machinery insurance policies, if applicable, maintained by Tenant pursuant to the provisions of paragraph 7 of this lease, and an amount equal to all insurance proceeds not received by Landlord as a result of acts of commission and/or omission of Tenant, shall be paid over by Tenant to Landlord, within thirty (30) days after Tenant’s receipt following demand therefor, whether or not Landlord shall be required to rebuild which payment shall be deemed to constitute Additional Rental. Landlord shall be required to repair, restore or replace any work, non-trade fixtures, alterations, additions or improvements installed by Tenant which became part of the Determination NoticeBuilding, and which shall have been included within the casualty insurance to be maintained by Tenant pursuant to Paragraph 7. Upon the giving of such termination noticeIn no event shall Landlord be required to repair, 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 givenrestore or replace any furniture, Landlord shalltrade fixtures, to the extent of the available insurance proceeds, make such repair equipment 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 contents (including without limitation Tenant’s use and occupancy of the Demised Premises (if 's racks) provided by 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 theretoPersonal Property as defined in Paragraph 27.

Appears in 1 contract

Samples: Lease Agreement (Di Giorgio Corp)

Fire and Other Casualty. In If the event Premises shall be damaged by fire or other casualty, other than as a result of the Demised negligence or misconduct of Tenant, the Lease shall not terminate and, upon adjustment of insurance claims, Landlord shall repair the damage, provided that Landlord shall have no obligation to repair damage to or replace Tenant’s Personal Property. Except as otherwise provided herein, if any part of the Premises are rendered untenantable by reason of any such damage, Rent, shall axxxx 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 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 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 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. If the restoration of the Premises and the Building has not been completed by the one hundred eightieth (180th) day following the date of the casualty, Tenant may terminate this Lease by written notice to Landlord, which notice shall be given by Tenant, if at all, within ten (10) business days following such 180th day. If the Premises or the Building shall be damaged by fire or other casualty insured by Landlord, due to the gross negligence or any act of intentional misconduct of Tenant (i) Landlord agrees shall have no obligation to promptly restore and repair the Demised Premises or the Building, (ii) this Lease shall at Landlord’s expenseoption, including not terminate, and subject to clause (iii) of this sentence, Landlord shall repair the Improvements to be insured by Premises or the Building, as the case may be, (iii) Landlord may at Tenant, but only ’s expense (subject to the extent provisions of Section 17.E. hereof) repair the damage, and (iv) Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds may pursue any legal and equitable remedies available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty (30) days after Tenant’s receipt of the 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 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 theretoit.

Appears in 1 contract

Samples: Office Lease (Sucampo Pharmaceuticals, Inc.)

Fire and Other Casualty. In 9. (a) If the event the Demised Premises are demised premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this lease shall continue in full force and effect except as hereinafter set forth. b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty insured the damages thereto shall be repaired by Landlordand at the expense of Owner and the rent, Landlord agrees until such repair shall be substantially completed, shall be apportioned from the day following the casualty according to promptly the part of the premises which is usable. (c) If the demised premises are totally damaged or rendered wholly unusable by fire or other casualty, the damages thereto shall be repaired by and at the expense of Owner and the rent, until such repair shall be substantially completed, shall be proportionately paid up to the time of the casualty and thenceforth shall cease until the date when the premises shall have been repaired and restored by Owner, subject to Owner's right to elect not to restore and repair the Demised Premises at Landlord’s expensesame as hereinafter provided. (d) If the building shall be so damaged that Owner shall decided to demolish it or to rebuild it, including the Improvements then, in any of such events, Owner may elect to be insured terminate this lease by written notice to Tenant, but only given with 90 days after such fire or casualty, specifying a date for the explanation of the lease, which date shall not be more than 60 days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease and Tenant shall forthwith quit, surrender and vacate the premises without prejudice however, to Owner's rights and remedies against Tenant under the extent Landlord receives lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall 4 serve a termination notice as provided herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance proceeds thereforclaims, including the proceeds labor troubles and causes beyond Owner's control. After any such casualty, Tenant shall cooperate with Owner's restoration by removing from the insurance required to be carried by premises as promptly as reasonably possible, all of Tenant's salvageable inventory and movable equipment, furniture, and other property. Tenant's liability for rent shall resume five (5) days after written notice from Owner that the premises are substantially ready for Tenant's occupancy. (e) Nothing contained hereinabove shall relieve Tenant on the Improvementsfrom liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first in the event that the Demised Premises are (i) any insurance in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the 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 insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to his favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Owner and Tenant each hereby releases and waives all right of recovery against the other or any one claiming through or under each of them by way of subrogation or otherwise. The foregoing release and waiver shall be in force only if both releasors' insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance. If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefiting from the waiver shall pay such premium within thirty (30) ten days after Tenant’s receipt written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the Determination Notice. Upon the giving of such termination notice, all obligations hereunder provisions hereof with respect to periods from and after the effective date waiver of termination shall thereupon cease and terminatesubrogation. If no such termination notice is given, Landlord shall, Tenant acknowledges that Owner will not be obligated to the extent repair any damages of Section 227 of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition existing prior to such casualty, promptly Real Property Law 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 agrees that the Demised Premises or any part thereof are unusable by reason provisions of any such damage thereto.this article shall govern and control in lieu thereof.(D)

Appears in 1 contract

Samples: Agreement (Advanced Viral Research Corp)

Fire and Other Casualty. In the event the Demised Premises are damaged by fire or other casualty insured by Landlord, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s 's expense, including the Improvements to be insured by Tenant, Tenant but only to the extent Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy forty (270240) days after the date of such damage; or (ii) destroyed by a casualty which is not covered by Landlord’s 's insurance, or if such casualty is covered by Landlord’s 's insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give written notice to Tenant of such determination (the "Determination Notice") within sixty forty five (6045) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving written notice to the other party within thirty fifteen (3015) days after Tenant’s 's receipt of the 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 '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 thereto. In addition to the foregoing, if this Lease is not cancelled and the Landlord undertakes such reconstruction or repair but does not complete the reconstruction or repair within eight (8) months after the date of the fire or other casualty, then the Tenant shall have the additional right to terminate this Lease by written notice to the Landlord delivered within thirty (30) days after the expiration of such eight (8) month period, provided that said notice is received by Landlord prior to substantial completion of said reconstruction, whereupon both parties shall be relieved of all further obligations hereunder, except for those obligations which expressly survive a termination of this Lease.

Appears in 1 contract

Samples: Industrial Lease Agreement (Andrx Corp)

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