Common use of Fire Eminent Domain Etc Clause in Contracts

Fire Eminent Domain Etc. (a) Fire & Casualty. (i) If the Premises and/or any necessary Common Area ancillary or adjacent thereto (including any Common Area that provides access to the Premises) shall be damaged by fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole or in part, Landlord shall at its expense, cause such damage to be repaired (but not Tenant’s improvements), and the rent shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable only in part, except as hereinafter provided, Landlord shall, at Landlord’s cost and expense, cause the damage to the Premises (but not Tenant’s improvements), to be repaired, and Base Rent and additional rent shall be abated proportionately as to the portion of the Premises rendered untenantable, from the date of such casualty until to the balance of the Premises has been substantially completed. If the Premises shall be rendered substantially damaged (as hereafter defined), or wholly untenantable, by reason of such occurrence, except as hereinafter provided, Landlord shall, at its cost and expense, cause such damage to the Premises (but not Tenant’s improvements), to be repaired, and the Base Rent and additional rent shall xxxxx from the date of such casualty until to the Premises has been substantially completed. (ii) Notwithstanding the foregoing, if: (A) any such damage shall occur during the last twelve (12) months of the Term; or (B) if the restoration of the Premises cannot be reasonably completed within sixty (60) days after such damage or destruction (“substantially damaged”), then either party shall have the right, at its election, to terminate this Lease and the tenancy hereby created, by giving the other party within the next sixty (60) days following the date of said occurrence, written notice of the first party’s election to terminate, and in the event of such termination, this Lease shall terminate and Base Rent and additional rent shall be adjusted as of such date of such occurrence. (iii) Landlord’s restoration shall be subject to zoning laws and building codes then in existence, and Landlord’s obligations hereunder shall not include Tenant’s improvements, trade fixtures, furnishings or equipment, and Tenant shall, at its own expense, proceeding with all reasonable diligence, repair, or replace such of Tenant’s improvements (which excludes Landlord’s Work), trade fixtures, furnishings and equipment as may have been damaged or destroyed. (iv) In the event that ten percent (10%) percent or more of the leaseable area comprising the Building; or ten percent (10%) per cent or more of the Common Areas within the Building, shall be damaged or destroyed by fire or other casualty, notwithstanding that the Premises may be unaffected by such fire or other casualty, Landlord may terminate this Lease and the tenancy hereby created, by giving Tenant sixty (60) days prior written notice of its election to terminate, which notice shall be given, if at all, not later than sixty (60) days following the date of said occurrence, and the rent and additional rent shall be adjusted as of the date of such termination, (v) In the event of termination of this Lease pursuant to this Article, this Lease shall come to an end and cease as of the date of such destruction or damage, except Tenant shall be liable for and pay promptly to Landlord any rent or other charges then in arrears.

Fire Eminent Domain Etc. (a) Fire & Casualty. (i) If the Premises and/or any necessary Common Area ancillary or adjacent thereto (including any Common Area that provides access to the Premises) shall be damaged by fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole or in part, Landlord shall at its expense, cause such damage to be repaired (but not Tenant’s improvements), and the rent shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable only in part, except as hereinafter provided, Landlord shall, at Landlord’s cost and expense, cause the damage to the Premises (but not Tenant’s improvements), to be repaired, and Base Rent and additional rent shall be abated proportionately as to the portion of the Premises rendered untenantable, from the date of such casualty until to the balance of the Premises has been substantially completed. If the Premises shall be rendered substantially damaged (as hereafter defined)by fire or casualty, the rent payable by Tenant hereunder shall xxxxx or wholly untenantablebe reduced proportionately for the period in which, by reason of such occurrencedamage, except as hereinafter providedthere is substantial interference with the operation of Tenant’s use of the Premises, having regard to the extent to which Tenant may be required to discontinue Tenant’s use of the Premises, but such abatement or reduction shall end if and when Landlord shall, at its cost and expense, cause such damage to shall have substantially restored the Premises (but not exclusive of any of Tenant’s improvements)fixtures, furnishings, equipment and the like or work performed therein by Tenant) to substantially the condition in which the Premises were in prior to such damage . If any part of the Building is taken by any exercise of the power of eminent domain, as a result of which there is substantial interference with the operation of Tenant’s use of the Premises, then the rent payable by Tenant hereunder shall be repairedjustly and equitably abated and reduced according to the nature and extent of the loss of use thereof suffered by Tenant. If the Premises or the Building are substantially effected by fire, casualty or a taking by an exercise of the right of eminent domain (the term “substantially effected” meaning damage of such a character that (i) the Premises are rendered totally or partially inaccessible or unusable by Tenant in the ordinary conduct of the Tenant’s business, and the Base Rent and additional rent shall xxxxx from the date of such casualty until to the Premises has been substantially completed. (ii) Notwithstanding the foregoingsame cannot, if: in the ordinary course, reasonably be expected to be repaired or replaced within ninety (A) any such damage shall occur during the last twelve (12) months of the Term; or (B) if the restoration of the Premises cannot be reasonably completed within sixty (6090) days after such damage from the time that repair work would commence or destruction (“substantially damaged”the taking is completed), then either party Landlord or Tenant shall have the right, at its election, right to terminate this Lease and the tenancy hereby created, by giving notice to the other party within the next sixty (60) days following the date of said occurrence, written notice of the first party’s election to terminate, and in the event of such terminationelection so to do, whereupon this Lease shall terminate and Base Rent and additional rent shall be adjusted as of such date of such occurrence. (iii) Landlord’s restoration shall be subject to zoning laws and building codes then in existence, and Landlord’s obligations hereunder shall not include Tenant’s improvements, trade fixtures, furnishings or equipment, and Tenant shall, at its own expense, proceeding with all reasonable diligence, repair, or replace such of Tenant’s improvements (which excludes Landlord’s Work), trade fixtures, furnishings and equipment as may have been damaged or destroyed. (iv) In the event that ten percent (10%) percent or more of the leaseable area comprising the Building; or ten percent (10%) per cent or more of the Common Areas within the Building, shall be damaged or destroyed by fire or other casualty, notwithstanding that the Premises may be unaffected by such fire or other casualty, Landlord may terminate this Lease and the tenancy hereby created, by giving Tenant sixty (60) days prior written notice of its election to terminate, which notice shall be given, if at all, not later than sixty (60) days following the date of said occurrence, and the rent and additional rent shall be adjusted as of the date of such termination, (v) In notice with the event of termination of this Lease pursuant to this Article, this Lease shall come to an end same force and cease effect as of if such date were the date of such destruction or damage, except Tenant shall be liable for and pay promptly to Landlord any rent or other charges then in arrearsoriginally established as the expiration date hereof.

Fire Eminent Domain Etc. (a) Fire & Casualty. (i) If Except as may be otherwise provided in the Premises and/or any necessary Common Area ancillary Lease, Seller shall bear the risk of all loss or adjacent thereto (including any Common Area that provides access to the Premises) shall be damaged by fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole or in part, Landlord shall at its expense, cause such damage to be repaired (but not Tenant’s improvements), and the rent shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable only in part, except as hereinafter provided, Landlord shall, at Landlord’s cost and expense, cause the damage to the Premises (but not Tenant’s improvements), to be repaired, and Base Rent and additional rent shall be abated proportionately as to the portion of the Premises rendered untenantable, from the date of such casualty until to the balance of the Premises has been substantially completed. If the Premises shall be rendered substantially damaged (as hereafter defined), or wholly untenantable, by reason of such occurrenceall causes, except as hereinafter provided, Landlord shall, at negligent or willful acts of Purchaser or its cost and expense, cause such damage to the Premises (but not Tenant’s improvements), to be repairedagents, and the Base Rent and additional rent shall xxxxx from risk of condemnation proceedings or other proceedings in the date nature of such casualty eminent domain, until to the Premises has been substantially completedClosing. (iib) Notwithstanding In addition to, and not by way of any limitation of, the foregoing, if: (A) any such damage shall occur during the last twelve (12) months of the Term; or (B) if the restoration of the Premises cannot be reasonably completed within sixty (60) days after such damage or destruction (“substantially damaged”), then either party shall have the right, at its election, to terminate this Lease and the tenancy hereby created, by giving the other party within the next sixty (60) days following the date of said occurrence, written notice of the first party’s election to terminate, and in the event of such termination, this Lease shall terminate and Base Rent and additional rent shall be adjusted as of such date of such occurrence. (iii) Landlord’s restoration shall be subject to zoning laws and building codes then in existence, and Landlord’s obligations hereunder shall not include Tenant’s improvements, trade fixtures, furnishings or equipment, and Tenant shall, at its own expense, proceeding with all reasonable diligence, repairthat the Premises, or replace such of Tenant’s improvements (which excludes Landlord’s Work), trade fixtures, furnishings and equipment as may have been damaged or destroyed. (iv) In the event that ten percent (10%) percent or more of the leaseable area comprising the Building; or ten percent (10%) per cent or more of the Common Areas within the Buildingany part thereof, shall be damaged or destroyed by fire or any other casualtycasualty ("Casualty") prior to the Closing, notwithstanding that in the Premises may be unaffected event such Casualty is beyond ordinary wear and tear but less than "substantial destruction", as defined below, this Agreement shall remain in full force and effect and on the Closing Seller shall transfer and/or assign to Purchaser any and all monies and claims received by or accrued to Seller on account of such fire Casualty, less such sums, if any, as shall have been expended by Seller in connection with the repair or other casualtyrestoration of such Casualty, Landlord may terminate this Lease and the tenancy hereby created, by giving Tenant sixty (60) days prior written notice of its election to terminate, which notice there shall be given, if at all, not later than sixty (60) days following credited towards the date Purchase Price the amount of said occurrence, and any deductible under the rent and additional rent shall be adjusted as of the date of insurance policy covering such termination, (v) Casualty. In the event of termination substantial destruction of the Premises, Purchaser shall have the option, exercisable by written notice to Seller within fifteen (15) days after the determination of the cost to repair or restore pursuant to the last sentence of this Lease pursuant subparagraph (b), to cancel this ArticleAgreement. If Purchaser so elects to cancel this Agreement, the Agreement shall be deemed cancelled and of no force and effect and neither party shall have any further rights or liabilities against or to the other. If Purchaser does not so elect to cancel this Agreement, this Lease Agreement shall come remain in full force and effect and on the Closing Seller shall transfer and/or assign to an end Purchaser any and cease as all monies and claims received or accrued to Seller on account of such substantial destruction, less such sums, if any, that shall have been expended by Seller in connection with the repair or restoration of such Casualty, and there shall be credited towards the Purchase Price the amount of any deductible under the insurance policy covering such Casualty. As used herein, the term "substantial destruction" shall mean a Casualty which shall require repairs to or restoration of the date Premises, the estimated cost of which shall exceed One Hundred Thousand and 00/100 ($100,000.00) dollars. In case of any dispute as to the estimated cost of repairs to or restoration of any Casualty, such dispute shall be determined by a reputable contractor selected by Seller and approved by Purchaser (which approval Purchaser agrees not to unreasonably withhold or delay) whose estimate of such destruction or damage, except Tenant cost shall be liable incorporated in a bid irrevocable for a period of thirty (30) days and pay promptly to Landlord any rent or other charges then in arrearsshall be binding upon Seller and Purchaser and the Closing Date shall be adjourned until such cost is determined.

Fire Eminent Domain Etc. (a) Fire & Casualty. (i) If the Premises and/or any necessary Common Area ancillary or adjacent thereto (including any Common Area that provides access to the Premises) shall be damaged by fire, the elements, unavoidable accident or other casualty, but are not thereby rendered untenantable in whole or in part, Landlord shall at its expense, cause such damage to be repaired (but not Tenant’s improvements), and the rent shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable only in part, except as hereinafter provided, Landlord shall, at Landlord’s cost and expense, cause the damage to the Premises (but not Tenant’s improvements), to be repaired, and Base Rent and additional rent shall be abated proportionately as to the portion of the Premises rendered untenantable, from the date of such casualty until to the balance of the Premises has been substantially completed. If the Premises shall be rendered substantially damaged (as hereafter defined), or wholly untenantable, by reason of such occurrence, except as hereinafter provided, Landlord shall, at its cost and expense, cause such damage to the Premises (but not Tenant’s improvements), to be repaired, and the Base Rent and additional rent shall xxxxx from the date of such casualty until to the Premises has been substantially completed. (ii) Notwithstanding the foregoing, if: (A) any such damage shall occur during the last twelve (12) months of the Term; or (B) if the restoration of the Premises cannot be reasonably completed within sixty (60) days after such damage or destruction (“substantially damaged”), then either party shall have the right, at its election, to terminate this Lease and the tenancy hereby created, by giving the other party within the next sixty (60) days following the date of said occurrence, written notice of the first party’s election to terminate, and in the event of such termination, this Lease shall terminate and Base Rent and additional rent shall be adjusted as of such date of such occurrence. (iii) Landlord’s restoration shall be subject to zoning laws and building codes then in existence, and Landlord’s obligations hereunder shall not include Tenant’s improvements, trade fixtures, furnishings or equipment, and Tenant shall, at its own expense, proceeding with all reasonable diligence, repair, or replace such of Tenant’s improvements (which excludes Landlord’s Work), trade fixtures, furnishings and equipment as may have been damaged or destroyed. (iv) In the event that ten percent (10%) percent or more of the leaseable area comprising the Building; or ten percent (10%) per cent or more of the Common Areas within the Building, shall be damaged or destroyed by fire or other casualty, notwithstanding that the Premises may be unaffected by such fire or other casualty, Landlord may terminate this Lease and the tenancy hereby created, by giving Tenant sixty (60) days prior written notice of its election to terminate, which notice shall be given, if at all, not later than sixty (60) days following the date of said occurrence, and the rent and additional rent shall be adjusted as of the date of such termination, . (v) In the event of termination of this Lease pursuant to this Article, this Lease shall come to an end and cease as of the date of such destruction or damage, except Tenant shall be liable for and pay promptly to Landlord any rent or other charges then in arrears.