Common use of FIRE CLAUSE Clause in Contracts

FIRE CLAUSE. 18.1. If the Premises shall be damaged by fire or other casualty insured against by Landlord's fire and extended coverage insurance policy covering the Building, and the Premises can be fully repaired, in Landlord's opinion, within one hundred and eighty (180) days from the date of such damage, Landlord, at Landlord's expense, shall repair such damage; provided, however, Landlord shall have no obligation: (a) to repair any damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year of the Lease Term (excluding any renewal option which is unexercised at the date of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Building be so damaged that Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and terminate this Lease by giving Tenant notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel this Lease, whereupon the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Old Line Bancshares Inc)

AutoNDA by SimpleDocs

FIRE CLAUSE. 18.1. If In the event of partial destruction of the Premises during the term of this Lease, from any cause insured under a Standard Form Fire and Extended Coverage policy of insurance which Lessor agrees to maintain, Lessor shall be damaged by fire or other casualty insured against by Landlord's fire and extended coverage insurance policy covering forthwith repair the Buildingsame, and the Premises provided such repairs can be fully repaired, in Landlord's opinion, made within one hundred and eighty (180) days from the date of such damagepartial destruction, Landlordunder the then applicable laws, rules and regulations of federal, state and local authorities and in light of the extent of such damage and the then condition of the labor market and availability of materials and supplies, but such partial destruction shall in no way annul or void this Lease, except that Lessee shall be entitled to a proportionate reduction of the minimum monthly rental amount owed by Lessee pursuant to this Lease, such reduction to be based upon the extent to which the damages and destruction and the making of such repairs shall interfere with the business carried on by Lessee in the Premises. If Lessor need not make such repairs, but nevertheless elects within one hundred eighty (180) days to make the same, this Lease shall continue in full force and effect, and the minimum monthly rental amount shall be proportionately reduced in accordance with the immediately preceding sentence. Lessee may terminate this Lease if commencement of such repairs has not occurred within one hundred eighty (180) days or been completed within one year. In the event that Lessor does not elect to make such repairs, or such repairs cannot be made, this Lease may be terminated at the option of either party. A total destruction of the Building shall, at Landlord's expensethe option either of Lessor or Lessee, terminate this Lease. Lessor shall repair such damage; provided, however, Landlord shall have no obligation: (a) not be required to repair any injury or damage toby fire or any other cause, or to replacemake any repairs or replacements of any personal property, Tenant Workfurnishings, alterationsfixtures, standard tenant improvements equipment, improvements, contents or any other property located contained or installed in the Premises; (b) Premises of Lessee. Notwithstanding anything to repair if such the contrary contained in this Section or this Lease, Lessor shall not have any obligation to repair, reconstruct or restore the Premises when the damage resulting from any casualty covered under this Lease occurs during the last year twelve (12) months of the Lease Term (excluding any renewal option which is unexercised at the date term of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Building be so damaged that Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and terminate this Lease by giving Tenant notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel this Lease, whereupon the Lease Term nor shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord Lessor be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated required to make repairs or restoration only expenditures greater than the actual amount of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenantinsurance recovery.

Appears in 1 contract

Samples: Lease Agreement (Resourcephoenix Com Inc)

FIRE CLAUSE. 18.1If said Premises or any part thereof shall be slightly damaged by fire or catastrophic casualty, but not to the extent that the Lessee is deprived of any use of said Premises by reason of such damage, then the Lessor shall, with all due diligence and at the Lessor's expense and cost, repair and restore the said Premises. If the said Premises shall be damaged to the extent that the Lessee is deprived of any use thereof by fire or other casualty insured against by Landlord's fire and extended coverage insurance policy covering the Building, and the Premises can be fully repaired, in Landlord's opinion, within one hundred and eighty (180) days from the date reason of such damage, Landlordand such Premises shall be capable of being repaired within a reasonable time, at Landlord's expense, shall repair such damage; provided, however, Landlord the Lessor shall have no obligation: (a) the option of repairing the same and during the time that repairs are being made the Lessor shall remit to repair any damage to, or the Lessee a just and fair portion of the rent according to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if extent that the Lessee shall be deprived of the use of said Premises by reason of such damage occurs during by fire. If such repairs shall not be commenced within thirty (30) days after the last year of the Lease Term (excluding any renewal option which is unexercised at the date occurrence of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Building be so damaged that Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, the Lessee at its option, cancel and option may terminate this Lease by giving Tenant written notice to the Lessor, whereupon Lessee shall surrender the Premises and shall not be liable for any further rental, and Lessor shall refund unearned rent paid by Lessee calculated at a daily rate based on the rental for the whole term. If the said Premises are so badly damaged by fire as to render it unfit for Lessee's occupancy, then this Lease may be terminated by either party, upon ten days' written notice to the other, whereupon Lessee shall surrender the Premises and shall not be liable for any further rental, and Lessor shall refund any unearned rent paid by Lessee calculated at a daily rate based on the rental for the whole term. Provided, however, that if damage to the Premises from fire or casualty results in writingwhole or in part from the negligence or intentional act of Lessee, within sixty (60) days of the occurrence of the event causing the damageits agents, of its intention employees or invitees, then Lessee shall not be entitled to cancel any rent abatement or any early termination for this Lease, whereupon Lessee shall pay the Lease Term shall terminate upon full rent for the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination full remaining term of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the perform its other for any matters arising duties under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Federal Agricultural Mortgage Corp)

FIRE CLAUSE. 18.1. If 17.1 In the event the Premises shall be or any part thereof, the elevators, hallways, stairways or other approaches thereto, becomes damaged or destroyed by fire or other casualty insured against by Landlord's fire from any cause so as to render said Premises and/or approaches unfit for use and extended coverage insurance policy covering the Buildingoccupancy, a just and the Premises can be fully repaired, in Landlord's opinion, within one hundred and eighty (180) days from the date of such damage, Landlord, at Landlord's expense, shall repair such damage; provided, however, Landlord shall have no obligation: (a) to repair any damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year of the Lease Term (excluding any renewal option which is unexercised at the date of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the proportionate part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance Rent according to the nature and extent of the damage or injury to businesssaid Premises and/or approaches, shall be suspended or xxxxx until said Premises and/or approaches have been put in as good condition for use and occupancy as at the time immediately prior to such damage or destruction. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall proceed, at its expense and as expeditiously as may be practicable, to repair the damage unless, because of the substantial extent of the damage or destruction, Landlord should decide not to rebuild repair or restore the samePremises or the Project, or if the entire Building be so damaged that in which event and at Landlord’s sole option Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and may terminate this Lease forthwith by giving Tenant a written notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel this Lease, whereupon terminate within ninety (90) days after the Lease Term shall terminate upon date of the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlordfire or other casualty. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damagesobligated to repair, lost profits restore or replace any fixture, improvement, alteration, furniture or other property owned, installed or made by Tenant, all of which shall be repaired, restored or replaced by Tenant. 17.2 Tenant shall immediately notify Landlord of any damage to Tenant's personal propertythe Premises caused by fire or any other casualty. 18.2. Effective upon 17.3 No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any termination repair or restoration of this Lease and the surrender any portion of the Premises by Tenant under any of or the Project. Subject to the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein providedparagraph 17.1, Landlord shall be obligated diligently proceed to make have such repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenantmade promptly.

Appears in 1 contract

Samples: Lease Agreement (Windstar Energy, LLC)

FIRE CLAUSE. 18.1In the event of a fire or other casualty in the Premises, Lessee shall immediately give notice thereof to Lessor. If the Premises through no fault or neglect of Lessee, its agents or employees shall be damaged partially destroyed by fire or other casualty insured against by Landlord's fire and extended coverage insurance policy covering the Building, and so as to render the Premises can be fully repaireduntenantable in whole or in part, in Landlord's opinionthe rental provided for herein shall xxxxx thereafter as to the portion of the Premises rendered untenantable until such time as the Premises are made tenantable as determined by Lessor and Lessor shall, within one hundred upon receipt of insurance proceeds, commence and eighty (180) days from the date of prosecute such damage, Landlord, at Landlord's expense, shall repair such damagework promptly and with all due diligence; provided, however, Landlord shall have no obligation: in the event such destruction results in the Premises being untenantable in whole or in substantial part for a period reasonably estimated by a responsible contractor selected by Lessor to be six (a6) to repair any damage tomonths or longer after Lessor's insurance settlement, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such event of total or substantial damage occurs during the last year or destruction of the Lease Term (excluding Building from any renewal option which is unexercised at the date of such damage); or (c) to repair cause and if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord Lessor shall decide not to rebuild, then all rent owed up to the time of such destruction or termination shall be paid by Lessee and thenceforth this Lease shall cease and terminate. Lessor shall give Lessee written notice of its decisions, estimates or elections under this Paragraph 5, Lessor shall only be obligated to restore or rebuild the samePremises to a building standard condition; provided, or if however, Lessee shall have the entire Building be so damaged that Landlord shall decide right to demolish it or not cause Lessor to rebuild itor restore the Premises to the condition they were in prior to such damage or destruction, then or in any which event Lessee shall bear the cost of such eventsrestoration or rebuilding to the extent the same exceeds the costs Lessor would have incurred had only building standard improvements been used; provided, Landlord as a condition precedent to commencement of construction, Lessor may, at its option, cancel and require Lessee to PREPAY the construction costs in excess of those costs necessary to complete the Premises to building standard condition or provide evidence satisfactory to Lessor of Lessee's ability to pay such costs. Notwithstanding anything to the contrary in this Lease, if the holder of any debt secured by a lien on the Building or Premises requires insurance proceeds to be applied to that debt, then Lessor may terminate this Lease by giving Tenant on written notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel this LeaseLessee, whereupon the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given all further rights and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination obligations of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties shall be released thereby and neither each party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its terminationterminate. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Office Lease Agreement (U S Long Distance Corp)

FIRE CLAUSE. 18.116.1. If the Premises shall be damaged by fire or other casualty insured against by Landlord's fire and extended coverage insurance policy covering the Building, and the Premises can be fully repaired, in Landlord's opinion, within one hundred and eighty (180) days from the date of such damage, Landlord, at Landlord's expense, shall repair such damage; provided, however, Landlord shall have no obligation: (a) to repair any damage to, or to replace, Tenant's non-Preoccupancy Tenant Work, alterations, Work standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year of the Lease Term lease term (excluding any renewal option which is unexercised at the date of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Building be so damaged that Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and terminate this Lease by giving Tenant notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel this Lease, whereupon the term of this Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 1816, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.216.2. Effective upon any termination of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 1816, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rentrent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.316.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Usinternetworking Inc)

FIRE CLAUSE. 18.1. If the Premises shall improvements on said Leased Premises, during the terms of this Lease should be seriously damaged by fire or other casualty insured against by Landlord's fire and extended coverage insurance policy covering the Buildingfire, and the Premises can be fully repairedexplosion, in Landlord's opinion, within one hundred and eighty (180) days from the date of such damage, Landlord, at Landlord's expense, shall repair such damage; provided, however, Landlord shall have no obligation: (a) to repair any damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year of the Lease Term (excluding any renewal option which is unexercised at the date of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Building be so damaged that Landlord shall decide to demolish it or not to rebuild it, then windstorm or in any of such eventsother manner, Landlord mayso that said improvements may become untenantable, at its option, cancel and terminate this Lease by giving Tenant notice in writing, Lessor shall have the option within sixty twenty (6020) days of the occurrence of the event causing the damage, of its intention thereafter either to cancel this LeaseLease or to begin repairing or restoring the improvements to their former condition, whereupon the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that as nearly as may be; if Landlord is obligated or Lessor elects to repair or restore as herein providedthe improvements, Landlord the duration of time when the premises are untenantable shall be obligated to make repairs or restoration only of those portions applied as a reduction of the Building and term of the, Lease Agreement, so that no rent shall be paid during such time, but as soon as the Premises which were originally provided at Landlord's expenseshall have been made tenantable again the Lessee shall then promptly reoccupy the Premises under the terms and conditions hereof. If the building is only partially damaged, so that there will be no total cessation of occupancy, Lessor shall repair the damage within reasonable dispatch, but there will be no abatement of the rent on account thereof. If the building is too badly damaged to repair the same or if Lessor elects not to restore it to a tenantable condition, the Lease shall terminate as of the date of destruction of said Premises, and the repair unmatured rent herein set forth shall be, canceled, and restoration of items not provided at Landlord's expense any unearned prepaid rental, if any, shall be refunded by Lessor to Lessee; but if the obligation Lessee shall be in arrears in his payment of Tenantthe rental accrued to that time, Lessee shall forthwith pay up the unpaid balance thereof. In no event shall Landlord be obligated Notwithstanding the above, should the damages to repair or restore any trade fixtureLeased Premises render them untenantable and there is less than six (6) months remaining on the term of the Lease, furnishings, equipment or personal property belonging to TenantLessee may terminate the Lease by so notifying Lessor in writing within ten (10) days after said damage.

Appears in 1 contract

Samples: Lease Agreement (Decorize Inc)

FIRE CLAUSE. 18.1A. If the demised premises shall be destroyed or so injured by any cause as to be unfit, in whole or in part, for occupancy, and such destruction or injury could reasonably be repaired within two (2) months from the happening of such destruction or injury, then Lessee shall not be entitled to surrender possession of the demised premises, nor shall Lessee's liability to pay rent under this Lease cease, without the mutual consent of the parties hereto, but in case of any such destruction or injury, Lessor shall repair the same with all reasonable speed and shall complete such repairs within two (2) months from the happening of such damage or injury, and if, during such period, Lessee shall be unable to use all or any portion of the demised premises, a proportionate allowance shall be made to Lessee from the rent, corresponding to the time during which and to the portion of the demised premises of which Lessee shall be so deprived to the use on account thereof. B. If such destruction or injury cannot reasonably be repaired within two (2) months from the happening thereof, Lessor shall notify Lessee within fourteen (14) days after the happening of such destruction or injury whether or not Lessor will repair or rebuild. If the Premises Lessor elects not to repair or rebuild, this Lease shall be damaged by fire terminated. If Lessor shall elect to repair or other casualty insured against by Landlord's fire and extended coverage insurance policy covering rebuild, Lessor shall specify the Buildingtime within which such repairs or reconstruction will be completed, and Lessee shall have the Premises can be fully repaired, in Landlord's opinionoption, within one hundred and eighty thirty (18030) days from after the date receipt of such damagenotice, Landlord, at Landlord's expense, shall repair such damage; provided, however, Landlord shall have no obligation: (a) to repair any damage to, elect either to terminate this Lease and further liability hereunder or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in extend the Premises; (b) to repair if such damage occurs during the last year term of the Lease Term (excluding any renewal option which is unexercised at by a period of time equivalent to the date time from the happening of such damage); destruction or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, injury until the repairs demised premises are restored to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Building be so damaged that Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and terminate this Lease by giving Tenant notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel this Lease, whereupon the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlordtheir former condition. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.the

Appears in 1 contract

Samples: Lease Agreement (Trident International Inc)

FIRE CLAUSE. 18.1. If 15.1 In the event the Premises shall be or any part thereof, the elevators, hallways, stairways or other approaches thereto, becomes damaged or destroyed by fire or other casualty insured against by Landlord's fire from any cause so as to render said Premises and/or approaches unfit for use and extended coverage insurance policy covering occupancy, a just and proportionate part of the BuildingRent according to the nature and extent of the damage or injury to said Premises and/or approaches, shall be suspended or abated until said Premises and/or approaches have been put in as good condition for use and occupancy as at the Premises can time immediately prior to such damage or destruction. Landlord shall proceed, at its expense and as expeditiously as may be fully repairedpracticable, to repair the damage unless, because of the substantial extent of the damage or destruction, Landlord should decide not to repair or restore the Premises, in Landlord's opinion, within one hundred which event and eighty (180) days from the date of such damage, Landlord, at Landlord's expense, shall repair such damage; provided, however, option Landlord shall have no obligation: (a) to repair any damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year of the Lease Term (excluding any renewal option which is unexercised at the date of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Building be so damaged that Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and may terminate this Lease forthwith by giving Tenant a written notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel this Leaseterminate within thirty (30) days after the date of the fire or other casualty. If Landlord elects to repair the damage, whereupon Landlord shall use reasonable efforts to minimize the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable disruption to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, during such repairs. Landlord shall not be responsible for consequential damagesobligated to repair, lost profits restore or replace any fixture, improvement, alteration, furniture or other property owned, installed or made by Tenant, all of which shall be repaired, restored or replaced by Tenant. 15.2 If (i) Landlord fails to give notice to Tenant within thirty (30) days of after the date of the fire or other casualty of its intention to restore or repair the Premises, or terminate this Lease, or (ii) the Premises can not be restored and repaired as provided in Section 15.1 within a period of ninety (90) days after the date of the fire or other casualty, or (iii) Landlord fails to restore or repair the Premises within ninety (90) days after the date of the fire or other casualty, Tenant shall have the right, upon notice to Landlord, to terminate this Lease. 15.3 Tenant shall immediately notify Landlord of any damage to Tenant's personal propertythe Premises caused by fire or any other casualty. 18.2. Effective upon 15.4 No damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any termination repair or restoration of this Lease and the surrender any portion of the Premises by Tenant under any of or the Building. Subject to the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein providedSection 15.1, Landlord shall be obligated diligently proceed to make have such repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenantmade promptly.

Appears in 1 contract

Samples: Office Building Lease (Environmental Power Corp)

FIRE CLAUSE. 18.1(a) In the event of a fire or other casualty in the Leased Premises, Tenant shall immediately give notice thereof to Landlord. If the Leased Premises shall be damaged partially destroyed by fire or other casualty insured against by Landlord's fire and extended coverage insurance policy covering so as to render the BuildingLeased Premises untenantable in whole or in part, and the rental provided for herein shall xxxxx thereafter as to the portion of the Leased Premises can be fully repaired, in Landlord's opinion, within one hundred and eighty (180) days from rendered untenantable until such time as Landlord restores the Office Building and/or Leased Premises to substantially the same condition as existed immediately prior to the date of such damage, Landlord, at Landlord's expense, shall and Landlord agrees to commence and prosecute such repair such damagework required of Landlord hereunder promptly and with all due diligence; provided, however, that Landlord shall have no obligation: (a) only be required to repair any damage to, or to replace, Tenant Work, alterations, reconstruct building standard tenant leasehold improvements or any other property located existing in the Premises; (b) to repair if such damage occurs during the last year Leased Premises as of the Lease Term (excluding any renewal option which is unexercised at the date of such damage); damage (or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part those portions of the Leased Premises that were not building standard prior to such damage or destruction but that Tenant has elected for Landlord to restore to building standard, which is unusable by Tenant. No compensation or rent deduction election shall be made by Tenant no later than sixty (60) days after such damage or destruction), and Tenant shall, subject to the terms of this Section 6.3, be required to restore any other leasehold improvements and pay the cost for inconvenience, annoyance or injury to business. Ifsame; provided, however, in the Premises are rendered wholly untenantable by fire event such destruction (i) results in total or other cause as determined by substantial damages to or destruction of the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, Office Building and Landlord shall decide not to rebuild the samerebuild, or if (ii) results in the entire Leased Premises being untenantable in whole or in substantial part and the reasonable estimation of a reputable independent contractor selected by Landlord (the “Estimation”) as to the amount of time necessary to rebuild or restore such destruction to the Leased Premises and all other portions of the Office Building is nine (9) months or more from the date of the casualty, then, in either such event, all Rent owed up to the time of such destruction shall be so damaged that paid by Tenant and thenceforth this Lease shall, at Landlord’s sole option (to be exercised by written notice thereof to Tenant), cease and come to an end. Landlord shall decide to demolish it give written notice of Landlord’s decisions, estimates or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and terminate elections under this Lease by giving Tenant notice in writing, Section 6.3 within sixty (60) days after any such damage or destruction (“Landlord’s Casualty Notice”). Notwithstanding anything contained in this Section 6.3, in the event such destruction results in the Leased Premises being untenantable in whole or in substantial part, Landlord does not elect to terminate the Lease pursuant to the terms of this Section 6.3, and the reasonable estimation of a reputable independent contractor selected by Landlord as to the amount of time necessary to rebuild or restore such destruction to the Leased Premises is nine (9) months or more from the date of the occurrence casualty, then all Rent owed up to the time of such destruction shall be paid by Tenant and thenceforth this Lease shall, at Tenant’s sole option (to be exercised by written notice thereof to Tenant within thirty (30) days following receipt of such estimation), cease and come to an end. Notwithstanding anything contained in this Section 6.3, (x) in no event shall Landlord be required to expend the proceeds of any insurance carried by Landlord that are required by the holder of a lien on the Building to be applied to the payment of the event causing indebtedness secured thereby and (y) Landlord shall have no obligation hereunder to repair or restore Tenant’s property or any alterations or improvements to the damageLeased Premises, including, without limitation, Tenant’s Work which, in each case, are not building standard leasehold improvements; however, Tenant may elect (which election shall be made by Tenant no later than sixty (60) days after such damage or destruction) for Landlord to cause all or portions of its intention the Leased Premises that were not building standard improvements prior to cancel this Leasesuch damage or destruction to be restored to a building standard condition at Landlord’s cost and expense. Promptly after Landlord substantially completes the restoration work required by Landlord hereunder, whereupon if any, (or if there is no restoration work required to be performed by Landlord hereunder, promptly after the damage occurs), Tenant shall restore the Leased Premises, including, without limitation the alterations and improvements thereto, which, in each case, are above building standard leasehold improvements, to the condition they were in immediately prior to such damage or destruction provided, however, Tenant shall have the right to elect to have Landlord replace any damaged above building standard leasehold improvement(s) with building standard improvements at Landlord’s cost and expense or, if and to the extent permitted by Landlord’s insurer, elect for Landlord to give Tenant a credit (which credit shall be provided by Landlord to Tenant in accordance with the terms of the Lease Term as if such credit was Construction Allowance) for the cost of such building standard improvements (in each case, which election shall be made by Tenant no later than sixty (60) days after such damage or destruction) and allow Tenant to pay for any excess costs to install substitute alterations, which substitute alterations shall be subject to Landlord’s reasonable approval; provided further that Tenant shall also have the right to forego the restoration of a particular above building standard leasehold improvement to the extent that Landlord has restored the building standard leasehold improvement in the applicable area of the Leased Premises. In the event the Leased Premises are damaged or destroyed by fire or other casualty and Landlord or Tenant do not elect to terminate upon the Lease pursuant to the terms of this Section 6.3, unless the restoration work Landlord is obligated to perform hereunder is substantially completed within nine (9) months from the date of the casualty (or the later period of time set forth in Landlord’s Casualty Notice, based on the Estimation) (each such period to be subject, however, to extension by one day for each day of Force Majeure (but in no event beyond twelve (12) months from the date of the casualty) and one day for each day of Tenant’s Delay), Tenant shall have the right to terminate this Lease after the expiration of such nine (9) month period (or the later period of time set forth in Landlord’s Casualty Notice, based on the Estimation) (as each such period may be extended as provided above) but prior to the time that the restoration work Landlord is obligated to perform hereunder is substantially completed, such termination to take effect as of the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender given, with the same to Landlord. In force and effect as if such date were the date originally established as the Expiration Date unless, within such thirty (30) day period such restoration work is substantially completed, in which case Tenant’s notice of termination shall be of no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, force and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination of effect and this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties Term shall be released thereby continue in full force and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its terminationeffect. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Office Lease Agreement (PROS Holdings, Inc.)

AutoNDA by SimpleDocs

FIRE CLAUSE. 18.1. a. If the Premises demised premises shall be damaged destroyed or so injured by fire any cause as to be unfit, in whole or other casualty insured against by Landlord's fire and extended coverage insurance policy covering the Buildingin part, for occupancy, and the Premises can be fully repaired, in Landlord's opinion, within one hundred and eighty (180) days from the date of such damage, Landlord, at Landlord's expense, shall repair such damage; provided, however, Landlord shall have no obligation: (a) to repair any damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year of the Lease Term (excluding any renewal option which is unexercised at the date of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance destruction or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Building could reasonably be so damaged that Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and terminate this Lease by giving Tenant notice in writing, repaired within sixty (60) days from the happening of such destruction or injury, then Lessee shall not be entitled to surrender possession of the occurrence demised premises, nor shall Lessee's liability to pay rent under this Lease cease, without the mutual consent of the parties hereto, but in case of any such destruction or injury, Lessor shall repair the same with all reasonable speed and shall complete such repairs within sixty (60) days from the happening of such damage or injury, and if, during such period, Lessee shall be unable to use all or any portion of the demised premises, a proportionate allowance shall be made to Lessee from the rent, corresponding to the time during which and to the portion of the demised premises of which Lessee shall be so deprived of the use on account thereof. b. If such destruction or injury cannot reasonably be repaired within sixty (60) days from the happening thereof, Lessor shall notify Lessee within twenty (20) days after the happening of such destruction or injury whether or not Lessor will repair or rebuild. If Lessor elects not to repair or rebuild, this Lease shall be terminated. If Lessor shall elect to repair or rebuild, Lessor shall specify the time within which such repairs or reconstruction will be completed, and Lessee shall have the option, within ten (10) days after the receipt of such notice, to elect either to terminate this Lease and further liability hereunder or to extend the term of the Lease by a period of time equivalent to the time from the happening of such destruction or injury until the demised premises are restored to their former condition. In the event causing Lessee elects to extend the damage, term of its intention to cancel this Lease, whereupon Lessor shall restore the Lease Term demised premises to their former condition within the time specified in the notice, and Lessee shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord not be liable to Tenant except pay rent for the period from the time of such destruction or injury until the demised premises are so restored to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal propertytheir former 10 condition. 18.2. Effective upon c. Both the Lessor and Lessee hereby waive and relinquish any termination and all rights which each may have against the other on account of this Lease and any claims for damages resulting from a loss to property owned by the surrender other, it being the sole intention of the Premises by Tenant under any parties to eliminate the right of the provisions either party to a subrogation of this Article 18, the parties shall be released thereby and neither party shall have any further liability his own rights to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its terminationhis insurance company. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Trident International Inc)

FIRE CLAUSE. 18.1. If the Premises demised premises or said building, shall be so damaged by fire or other casualty insured against by Landlord's fire and extended coverage insurance policy covering the Buildingcatastrophe as to render said premises wholly uninhabitable, and the Premises can if such damage shall be fully repairedso great that a competent architect, in Landlord's opiniongood standing in the Boulder County of Colorado, selected by the Landlord shall certify in writing to the Landlord and the Tenant that said premises, with the exercise of reasonable diligence, cannot be made fit for occupancy within one hundred and eighty ninety (18090) days from the happening thereof, then this lease shall cease and terminate from the date of the occurrence of such damage; and the Tenant thereupon shall surrender to the Landlord said premises and all interest therein hereunder, Landlordand the Landlord may reenter and take possession of said premises and remove the Tenant therefrom. The Tenant shall pay rent, at Landlord's expenseduly apportioned, shall repair such damage; provided, however, Landlord shall have no obligation: (a) up to repair any damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year of the Lease Term (excluding any renewal option which is unexercised at the date time of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposestermination of this lease. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, If however, the Premises are rendered wholly untenantable damage shall be such that such an architect so shall certify that the said demised premises can be made habitable within such number of days from the happening of such damage by fire or other cause as determined by catastrophe, than the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said mattersLandlord shall repair the damage so done with all reasonable speed, and Landlord the rent shall decide be abated only for the period during which the Tenant shall be deprived of the use of said premises by reason of such damage and the repair thereof. If said demised premises, without the fault of the Tenant, shall be slightly damaged by fire or other catastrophe but not so as to rebuild render the samesame uninhabitable, or if the entire Building Landlord, after receiving notice in writing of the occurrence of the injury, shall cause the same to be repaired with reasonable promptness; but in such event, there shall be no abatement of the rent. In case the building throughout be so damaged injured or damaged, whether by fire or otherwise (though said demised premises may not be affected) that the Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel and terminate this Lease by giving Tenant notice in writing, within sixty (60) days after the happening of such injury, shall decide to reconstruct, rebuild, or xxxx said building, and shall enter into a bona fide, legal and binding contract therefor, then upon thirty (30) days notice in writing to that effect given by the Landlord to the Tenant, this lease shall cease and terminate from the date of the occurrence of the event causing the said damage, of its intention to cancel this Lease, whereupon the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair Tenant shall pay rent, properly apportioned, up to such date, and restoration of items not provided at Landlord's expense both parties hereto shall be the obligation free and discharged of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenantall further obligations hereunder.

Appears in 1 contract

Samples: Lease Agreement (Synplicity Inc)

FIRE CLAUSE. 18.1In the event of a fire or other casualty in the Leased Premises, Lessee shall immediately give notice thereof to Lessor. If at least twenty-five percent (25%) of the Leased Premises shall be damaged or the Building is destroyed by fire or other casualty, Lessor shall have the right to terminate this Lease or to repair the Leased Premises with reasonable dispatch, subject to delays resulting from adjustment of the loss and any other cause beyond Lessor's reasonable control; provided, Lessor shall not be required to repair or replace any furniture, furnishings or other personal property which Lessee may be entitled to remove from the Leased Premises or any installations in excess of Building standard. Lessor shall provide written notice to Lessee within thirty (30) days after the date of any casualty insured against by Landlordas to Lessor's fire and extended coverage insurance policy covering election to terminate or repair. The notice shall provide Lessor's reasonable estimate as to whether the Building, and the Premises repair or restoration can be fully repaired, in Landlordcompleted within ninety (90) days after the date of such notice. In the event Lessor's opinion, within one hundred and eighty notice provides that repair or restoration will take more than ninety (18090) days from the date of such damagenotice, Landlord, at Landlord's expense, shall repair such damage; provided, however, Landlord Lessee shall have no obligation: the right to terminate this Lease, provided that Lessee must deliver written notice of its election to terminate within ten (a10) days after receipt of Lessor's notice thereof. If Lessee fails to repair any damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located deliver such notice in the time period specified above, Lessee shall be deemed to have waived its right to terminate. Until Lessor's repairs are completed the Rent shall be abated in proportion to the portions of the Leased Premises; (b) , if any, which are untenantable or unsuited for the conduct of Lessee's business, and Lessor will use reasonable efforts to repair if such damage occurs assist Lessee in securing a temporary space in the event Lessee is forced to relocate from the Building during the last year of the Lease Term (excluding any renewal option which is unexercised at the date of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the time Lessor completes its repairs to the Premises are substantially completedBuilding. Notwithstanding anything contained in this Section, the Monthly Base Rent Lessor shall xxxxx pro-rata based on the part of the Premises which is unusable by Tenant. No compensation only be obligated to restore or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the same, or if the entire Leased Premises to a Building be so damaged that Landlord shall decide to demolish it or not to rebuild it, then or in any of such events, Landlord may, at its option, cancel standard condition and terminate this Lease by giving Tenant notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel this Lease, whereupon the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord Lessor shall not be responsible for consequential damagesrequired to expend more funds than the amount received by Lessor from the proceeds of any insurance carried by Lessor. Further notwithstanding, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination in the event the Building is untenantable as defined as condemned by the City of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18Raleigh, the parties shall be released thereby and neither North Carolina, either party shall have any further liability to the other for any matters arising under may terminate this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Virata Corp)

FIRE CLAUSE. 18.1. If This Lease is made on condition that, if the Premises shall premises, or any part thereof, be destroyed or damaged by fire or other casualty insured against covered by Landlorda Standard Fire and Extended Coverage Policy, so as to render said premises unfit for use and occupancy, a proportionate part of the rent shall be suspended and abated until said premises shall have been put in as good condition for use and occupancy as at the time of such damage or destruction, or until this Lease shall be canceled and terminated as next hereinafter provided, as the case may be. It shall be the duty of the Lessor to determine and to notify the Lessee, in writing, within forty five (45) days after such damage or destruction, the date by which the premises can be fully restored with reasonable diligence. II the date by which such restoration can be completed, as stated in the Lessor's fire notice, shall be later, than six (6) months after such damage or destruction, then either party hereto shall have the right, to be exercised within thirty (30) days after receipt of such notice from the Lessor, to cancel and extended coverage insurance policy covering terminate this Lease, by giving to the Buildingother party a written notice of his desire so to cancel and terminate; but if this Lease shall not be so canceled, it shall remain in full force and effect and the Lessee shall reoccupy the premises when fully restore([ However, if the date by which such restoration can be completed, as stated in the Lessor's notice, shall be earlier than six (6) months after such damage or destruction, this Lease shall remain in full force and effect, and the Premises can be Lessee shall reoccupy the premises when fully repairedrestored, in Landlord's opinion, within one hundred and eighty (180) days from the date of such damage, Landlord, at Landlord's expense, shall repair such damage; provided, however, Landlord that if, at the expiration of a period of six (6) months following such damage or destruction, the premises shall not have been fully restored as a result of some cause beyond the Lessor's control, the Lessor shall have no obligation: (a) the right to repair any complete such restoration, provided he shall use reasonable diligence in so doing, without thereby affording to the Lessee the right to cancel this Lease. In case of damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year destruction of the Lease Term (excluding any renewal option which is unexercised at the date of such damage); or (c) to repair if the mortgagee does not allow the insurance proceeds to be used for such purposes. Except as otherwise provided herein, until the repairs to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part of the Premises which is unusable premises by Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to business. If, however, the Premises are rendered wholly untenantable by fire or other cause as determined by the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matters, and Landlord shall decide not to rebuild the samean uninsured casualty, or if the entire Building be so damaged that Landlord estimated cost of repair or restoration shall decide to demolish it or not to rebuild itexceed Lessor's insurance recovery, then or in any of such events, Landlord maythe Lessor, at its option, may cancel and terminate this Lease by giving Tenant the Lessee a written notice in writing, to this effect within sixty forty five (6045) days of the occurrence of the event causing the damage, of its intention to cancel this Lease, whereupon the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate damage or destruction, but if the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord Lessor shall not be responsible for consequential damagesso elect to terminate, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination of this Lease and the surrender of the Premises by Tenant under any all of the provisions of this Article 18, the parties hereinbefore contained respecting an insured casualty shall be released thereby and neither party shall have any further liability equally applicable to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its terminationsuch non-insured casualty. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Lease Agreement (BBJ Environmental Technologies Inc)

FIRE CLAUSE. 18.1In the event of a fire or other casualty in the Leased Premises, Tenant shall immediately give notice thereof to Landlord. If the Leased Premises shall be damaged or any portion of the Building is destroyed by fire or other casualty insured against by casualty, Landlord shall have the right to terminate this Lease or to repair the Leased Premises with reasonable dispatch, subject to delays resulting from adjustment of the loss and any other cause beyond Landlord's fire reasonable control; provided, Landlord shall not be required to repair or replace any furniture, furnishings or other personal property which Tenant may be entitled to remove from the Leased Premises or any installations in excess of Building standard, unless such were part of the Upfit (as defined in Exhibit C). Landlord shall provide written --------- notice to Tenant within thirty (30) days after the date of any casualty as to Landlord's election to terminate or repair. The notice shall provide Landlord's reasonable estimate as to whether the repair and extended coverage insurance policy covering the Building, and the Premises restoration can be fully repaired, in Landlord's opinion, completed within one hundred and eighty (180) days from after the date of such damage, Landlord, at notice. In the event Landlord's expense, shall notice provides that repair such damage; provided, however, Landlord shall have no obligation: or restoration will take more than one hundred eighty (a180) to repair any damage to, or to replace, Tenant Work, alterations, standard tenant improvements or any other property located in the Premises; (b) to repair if such damage occurs during the last year of the Lease Term (excluding any renewal option which is unexercised at days after the date of such damage); or notice, Tenant shall have the right to terminate this Lease, provided that Tenant must deliver written notice of its election to terminate within ten (c10) days after receipt of Landlord's notice thereof. If Tenant fails to repair if deliver such notice in the mortgagee does not allow time period specified above, Tenant shall be deemed to have waived its right to terminate. Until Landlord's repairs are completed the insurance proceeds to Rent shall be used for such purposes. Except as otherwise provided herein, until the repairs abated in proportion to the Premises are substantially completed, the Monthly Base Rent shall xxxxx pro-rata based on the part portions of the Premises Leased Premises, if any, which is unusable by are untenantable or unsuited for the conduct of Tenant. No compensation or rent deduction shall be made for inconvenience, annoyance or injury to 's business. IfNotwithstanding anything contained in this Section, however, Landlord shall only be obligated to restore or rebuild the Leased Premises are rendered wholly untenantable by fire or other cause as determined by to the Fire Xxxxxxxx for Xxxx Arundel County, Maryland or such other duly authorized governmental individual or entity having jurisdiction over said matterscondition that existed immediately prior to the casualty, and Landlord shall decide not be required to rebuild expend more funds than the sameamount received by Landlord from the proceeds of any insurance carried by Landlord, or if the entire Building be so damaged that provided Landlord shall decide to demolish it or not to rebuild it, then or maintains insurance coverage in any of such events, Landlord may, at its option, cancel and terminate this Lease by giving Tenant notice in writing, within sixty (60) days of the occurrence of the event causing the damage, of its intention to cancel accordance with this Lease, whereupon the Lease Term shall terminate upon the thirtieth (30th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord. In no event shall Landlord be liable to Tenant except to the extent provided in this Article 18, and without limiting the foregoing, Landlord shall not be responsible for consequential damages, lost profits or any damage to Tenant's personal property. 18.2. Effective upon any termination of this Lease and the surrender of the Premises by Tenant under any of the provisions of this Article 18, the parties shall be released thereby and neither party shall have any further liability to the other for any matters arising under this Lease, except for Rent, violations regarding Hazardous Materials and other items which accrued prior to the effective date of termination and are then unpaid or which this Lease provides shall survive its termination. 18.3. It is hereby understood that if Landlord is obligated or elects to repair or restore as herein provided, Landlord shall be obligated to make repairs or restoration only of those portions of the Building and the Premises which were originally provided at Landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. In no event shall Landlord be obligated to repair or restore any trade fixture, furnishings, equipment or personal property belonging to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Pozen Inc /Nc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!