FIRE OR CASUALTY. If the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage upon written notice given to the Tenant at any time within one hundred twenty (120) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Lease.
Appears in 2 contracts
Samples: Lease Agreement (Olink Holding AB (Publ)), Lease Agreement (Olink Holding AB (Publ))
FIRE OR CASUALTY. a. If the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of Rent being made for Tenant’s possession subsequent to the date of such damage of those tenantable portions of the Premises) upon giving written notice given to the Tenant at any time within one hundred twenty sixty (12060) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualtyLease is not terminated, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, rent shall axxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. .
b. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage, whether carried by Landlord or Tenant, for damage to alterations, additions, improvements or decorations provided by Landlord.
c. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any the alterations, additions, installation additions or improvements in the Premises or the decoration decorations thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage coverage, whether carried by Landlord or Tenant, for damage to any alterations, addition, installationadditions, improvements or decorations performed paid or installed provided by Tenant which would become the Landlord’s property upon the termination of the Lease.
Appears in 2 contracts
Samples: Lease Agreement (Opnext Inc), Lease Agreement (Opnext Inc)
FIRE OR CASUALTY. If Paragraph 8 hereof notwithstanding, if the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty and if such damage does not cause render all or a termination substantial portion of this Lease as described in the following sentencesPremises or Building untenantable, then Landlord shall repair and restore the damage same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% all or a substantial portion of the Premises or Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Yearuntenantable, Landlord shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of Rent being made for Tenant's possession subsequent to the date of such damage of those tenantable portions of the Premises) upon giving written notice given to the Tenant at any time within one hundred twenty sixty (12060) days after the date of such damage. If any such damage renders all or more than fifty percent (iii50%) above occurs or Landlord fails to restore of the Premises untenantable Tenant shall also have the right to terminate this Lease as of the date of such damage upon giving written notice to Landlord at any time within one hundred eighty forty-five (18045) days after the casualty, Tenant may terminate date of such damage. Unless this Lease within thirty (30) days following is terminated as provided in the date upon which such termination rights was triggered. two preceding sentences and Landlord shall have no liability proceed with reasonable promptness to Tenantrepair and restore the Premises, subject to reasonable delays for insurancee adjustments and Tenant delays caused by matters beyond Landlord's reasonable control. Rent, however shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on abatx xx those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Lease.
Appears in 2 contracts
Samples: Sublease (SPR Inc), Sublease (SPR Inc)
FIRE OR CASUALTY. (a) If the Premises or the Building (including machinery or equipment used in its operation) shall be is damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect actually received by Landlord for application to the repair of such damage. If in Landlord’s estimate estimation the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety sixty (9060) days after such fire or casualty. Tenant may elect in writing sixty by notice given to Landlord within thirty (6030) days following the date of such notice from Landlord, Landlord (time being of the essence, ) to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders twenty-five percent (25% %) or more of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two one hundred seventy eighty (270180) days from the date of such damage or (iii) occurs within the last twenty- four (24) months of the Lease YearTerm, Landlord shall have the right to terminate this Lease as of the date of such damage upon written notice given to the Tenant at any time within one hundred twenty (120) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restorationrestoration provided that Tenant shall have the right to terminate the Lease if such repairs are not completed within such two hundred seventy (270) day period or such longer period as originally estimated by Landlord, subject to extension for delays caused by reasons outside of Landlord’s control, by notice given within thirty (30) days after such repair period expires, which notice shall be deemed withdrawn if the restoration is completed within thirty (30) days after such notice is delivered to Landlord. Annual Fixed Base Rent and additional rentAdditional Rent, however, shall axxxx xxxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. damage until such time as Landlord has substantially completed Landlord’s restoration obligations under this Section 10.1.
(b) Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 10.1 to repair or restore any portion of any alterations, additions, installation or improvements Alterations in the Premises or the decoration thereto except to or any of Tenant’s personal property or fixtures in the extent that the proceeds of the insurance carried by Tenant are timely received by LandlordPremises. If Tenant desires that Landlord perform such restoration or any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the this Lease. Tenant acknowledges that if this Lease is terminated under any of the provisions of this Article X, Landlord shall be entitled to the full proceeds of any insurance coverage coverage, whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Lease. This Article X shall be deemed an express agreement governing any damage or destruction of the Premises by fire or other casualty, and any law providing for a contingency in the absence of an express agreement, now or hereafter in force, shall have no application.
Appears in 1 contract
FIRE OR CASUALTY. If (A) In the event that the Property (regardless of whether the Premises or access thereto is affected) is so damaged or destroyed to the Building extent of more than one--third (including machinery 1/3) of its replacement- cost, or equipment used in its operation) shall be damaged to any substantial extent by fire a casuality not covered by Xxxxxxxx's insurance or other casualty and if such damage does not cause a termination during the last two years of this Lease as described in Lease, Landlord, upon giving thirty (30) days notice to Tenant, may elect to terminate this Lease.
(B) In the following sentencesevent the Premises are completely destroyed or so badly damagedthat, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate 's reasonable opinion, repairs to the Premises cannot be restored completed within two hundred seventy (270) days from the date of such fire damage or casualtydestruction, Landlord will so notify Tenant, in which event this Lease may be terminated by either Landlord or Tenant by giving thirty (30) days advance written notice, said notice to be given within 15 days following receipt of Landlord's notice. In the event Tenant shall fail to terminate this Lease as provided in this subparagraph (B) then, Tenant shall thereafter have no further right to so terminate based upon the provisions of this subparagraph (B).
(C) If this Lease is not terminated as provided in Subparagraph 13 (A) and 13 (B) , or if the damage or destruction `is other than as provided in Subsection 13 (a) and 13(b)., then Landlord shall give notice to Tenant of such estimate commence within ninety (90) days after such fire damage or casualty. Tenant may elect destruction to rebuild, repair or restore the Premises and access thereto to substantially the same condition as when the-same were delivered to Tenant, excluding any improvements owned by Tenant, and the Lease shall continue in writing sixty full force and effect.
(60D) days following the date of such notice from Landlord, time being of the essence, to terminate If this Lease effective is terminated as provided above, Xxxxxx's obligation to pay Rent hereunder shall cease as of the date of Tenant’s noticedamage or destruction if Premises are rendered untenantable.
(E) Landlord shall in no event be obligated to make any repairs or replacement of any fixtures, furniture, equipment or other property (real or personal) owned by Xxxxxx. If the lease is not terminated but the Premises are rendered totally untenantable, Rent shall xxxxx during the period of such untenantability. Tenant acknowledges (1) that Landlord shall not obtain insurance of any such damage (i) renders 25% of kind on Tenant Improvements, alterations, additions and improvements to the Building untenantable Premises owned by Tenant or on Tenant's furniture, fixtures, equipment and other personal property, (ii) renders general Building systems inoperable that it is Tenant's obligation to obtain such insurance at Tenant's sole cost and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or expense, and (iii) occurs within the last Lease Year, that Landlord shall have not be obligated to repair any damage thereto or replace the right to terminate same. The provisions of this Lease as Paragraph 13 shall be considered an express agreement governing any case of damage or destruction of the date of such damage upon written notice given to the Tenant at any time within one hundred twenty (120) days after the date of such damage. If (iii) above occurs Premises by fire or Landlord fails to restore the Premises within one hundred eighty (180) days after the other casualty, Tenant may terminate this Lease within thirty (30) days following and any law of the date upon which State of New Jersey, providing for such termination rights was triggered. Landlord a contingency in the absence of an express agreement, and any other law of like import, now or hereafter in force, shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays application in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Leasecase.
Appears in 1 contract
Samples: Lease Agreement (Institutional Equity Holdings Inc /Nv/)
FIRE OR CASUALTY. If the Premises or the Building (including machinery or equipment used in its operation) shall be partially or completely damaged or destroyed by fire or other casualty, Lessor shall, as soon as reasonably possible, effect the required repairs and reconstruction of Premises to place them in substantially the same condition as existed immediately prior to such damage or destruction but during such time as said repairs or reconstruction are being made, the rentals hereinabove provided shall not abatx. Xxy other provisions contained herein notwithstanding, the Lessor shall be required and obligated to effect repairs or reconstruction only to the extent of any sums of money, if any, which are received by Lessor under Lessor's insurance coverage as a direct result of said fire or other casualty. Should the insurance proceeds be insufficient, the remaining funds necessary for repair and restoration shall be promptly furnished by Lessee. If at any time within twelve (12) months before the end of the initial five (5) year Term, or within twelve (12) months before the end of the initial five (5) year Renewal Term (whichever is applicable):
(a) Lessee has not been served upon Lessor notice of renewal of extension; (b) the improvements to the Premises are completely destroyed or as damaged by fire or other casualty casualty, regardless of whether covered by insurance, so as to render the Premises unfit for their intended use; and if such damage does (c) as repair or restoration is not cause a termination of this Lease economically feasible, then, except as described provided in the following sentencessentence, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant either party may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage upon by written notice given to the Tenant at any time other within one hundred twenty thirty (12030) days after the date of such damagedamage or destruction. Notwithstanding the foregoing, should Lessee serve upon Lessor irrevocable notice of renewal, then Lessor shall be obligated to perform as described in this Paragraph 17. If (iii) above occurs or Landlord fails the Lease is so terminated, all rent shall be apportioned to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such of termination rights was triggered. Landlord and all insurance proceeds shall have no liability belong to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the LeaseLessor.
Appears in 1 contract
FIRE OR CASUALTY. If hereof notwithstanding, if the Premises or the Building (Building, including machinery or equipment used in its operation) shall be damaged by fire or other casualty casualty, and if such damage does not cause render all or a termination substantial portion of this Lease as described in the following sentencesPremises or Building untenantable, then Landlord shall repair and restore the damage same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% all, or a substantial portion of the Premises or Building untenantable untenantable, either Tenant or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of Rent being made for Tenant’s possession subsequent to the date of such damage of those tenantable portions of the Premises) upon giving written notice given to the Tenant other at any time within one hundred twenty sixty (12060) days after the date of such damage. If , Unless this Lease is terminated as provided in the two (iii2) above occurs or proceeding sentences, Landlord fails shall proceed with reasonable promptness to repair and restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability with an appropriate abatement of rent or a proportionate basis being made to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions reflect that portion of the Premises as are, from time rendered untenantable for any period of time. For the purposes of this Section B the term “untentable” shall mean that Tenant cannot conduct its business activities within the Premises in a manner reasonably comparable to time, untenantable and, the manner in fact, unoccupied by which Tenant as a result conducted its business operations prior to the occurrence of such the damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 12 to repair or restore any portion of any the alterations, additions, installation or improvements in the Premises or the decoration and decorations thereto except to the extent that such alterations, additions, improvements and decorations are fixed and permanent and were provided by Landlord, at Landlord’s cost, at the proceeds beginning of the insurance carried by Tenant are timely received by LandlordTerm. If Tenant desires wants any other or additional repairs or restoration, restorations and if Landlord consents thereto, it thereto the same shall be done at Tenant’s sole cost and expense expense, subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the LeaseSection 8 hereof.
Appears in 1 contract
Samples: Lease Agreement (Acell Inc)
FIRE OR CASUALTY. (a) If the Premises Property or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s 's estimate the Premises Property cannot be restored within two three hundred seventy sixty-five (270365) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety one hundred twenty (90120) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, Landlord to terminate this Lease effective as of the date of Tenant’s 's notice. If any such damage damage: (i) renders 25% of the Building untenantable building untenantable; or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s 's reasonable estimate within two three hundred seventy sixty five (270365) days from the date of such damage damage, or (iii) occurs within the last two (2) Lease Yearyears, Landlord shall have the right to terminate this Lease as of the date of such damage upon giving written notice given to the Tenant at any time within one hundred twenty (120) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rentRent, however, shall axxxx abate on those portions of the Premises Propxxxx as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. .
(b) Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 II to repair or restore any portion of any alterations, additions, installation or improvements in the Premises Property or the decoration decorations thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s 's sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s 's property upon the termination of the Lease.
Appears in 1 contract
Samples: Lease Agreement (Cel Sci Corp)
FIRE OR CASUALTY. If the Premises or the Building (including machinery or equipment used in its operation) shall be partially or completed damaged or destroyed by fire or other casualty, Lessor shall, as soon as reasonably possible, effect the required repairs and reconstruction of the Premises to place them in substantially the same condition as existed immediately prior to such damage or destruction but during such time as said repairs or reconstruction are being made, the rentals hereinabove provided shall not abatx. Xny other provisions contained herein notwithstanding, the Lessor shall be required and obligated to effect repairs or reconstruction only to the extent of any sums of money, if any, which are received by Lessor under Lessor's insurance coverage as a direct result of said fire or other casualty. Should the insurance proceeds be insufficient, the remaining, funds necessary for repair and restoration shall be promptly furnished by Lessee. If at any time within twelve (12) months before the end of the initial Term, or within twelve (12) months before the end of the initial Renewal Term (whichever is applicable):
(a) Lessee has not served upon lessor notice of renewal of extension; (b) the improvements to the Premises are completely destroyed or as damaged by fire or other casualty casualty, regardless of whether covered by insurance, so as to render the Premises unfit for their intended use; and if such damage does (c) as repair or restoration is not cause a termination of this Lease economically feasible, then, except as described provided in the following sentencessentence, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused either party may terminate this Sub-Lease by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect written notice to the damage. If in Landlord’s estimate the Premises cannot be restored other within two hundred seventy thirty (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage upon written notice given to the Tenant at any time within one hundred twenty (12030) days after the date of such damagedamage or destruction. Notwithstanding the foregoing, should Lessee serve upon Lessor irrevocable notice of renewal, then Lessor shall be obligated to perform as described in this Paragraph 17. If (iii) above occurs or Landlord fails the Sub-Lease is so terminated, all rent shall be appointed to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such of termination rights was triggered. Landlord and all insurance proceeds shall have no liability belong to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the LeaseLessor.
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FIRE OR CASUALTY. (a) If the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s reasonable estimate the Premises cannot be restored within two three hundred seventy sixty five (270365) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety sixty (9060) days after such fire or casualty. Tenant may elect in writing by written notice given to Landlord within sixty (60) days following the date of such notice from Landlord, Landlord (time being of the essence, ) to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% or more of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two three hundred seventy sixty five (270365) days from the date of such damage or (iii) occurs within the last Lease Yearyear of the Term, provided that such damage exceeds the sum of $250,000, either Landlord or Tenant shall have the right to terminate this Lease as of the date of such damage upon written notice given to the Tenant other party at any time within one hundred twenty sixty (12060) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restorationrestoration provided that Tenant shall have the right to terminate the Lease if such repairs are not completed within the later of (i) 425 days following the fire or casualty, or (ii) sixty (60) days after the date set forth in any Repair Date Extension Notice (defined below), subject to extension for delays caused by reasons outside of Landlord’s control (not to exceed an additional sixty [60] days), by written notice delivered to Landlord within thirty (30) days after such 425 day period expires, which notice shall be deemed withdrawn if the restoration is completed within thirty (30) days after such notice is delivered to Landlord. Annual Fixed Rent and additional rentAdditional Rent, however, shall axxxx xxxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Such abatement shall be in an amount bearing the same ratio to the total amount of rent for such period as the portion of the Premises rendered untenantable and not occupied by or theretofore delivered to Tenant from time to time bears to the entire Premises. Notwithstanding the foregoing, if Landlord determines in good faith that it will be unable to complete the repairs within Landlord’s original time estimate, notwithstanding that such extended estimate may exceed three hundred sixty five (365) days from the date of damage, Landlord shall have the right to immediately cease its performance of the repairs and provide Tenant with written notice (the “Repair Date Extension Notice”) of such inability, which Repair Date Extension Notice shall set forth the date on which Landlord reasonably believes that the repairs will be completed. Upon receipt of the Repair Date Extension Notice, if such date exceeds three hundred sixty five (365) days from the date of damage, Tenant shall have the right to terminate this Lease by providing written notice of termination to Landlord within twenty (20) days after the date of the Repair Date Extension Notice. If Tenant does not terminate this Lease within such five (5) business day period, Tenant shall have no further right to terminate this Lease notwithstanding that the repairs are not completed within the 365 day period following damage.
(b) Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty to apply any insurance proceeds to or bear any costs or expenses in connection with the restoration of any additions, Alterations and/or improvements to the Premises if (i) Landlord did not receive written notice from Tenant of such additions, Alterations and/or improvements, regardless of whether Tenant is required to obtain Landlord’s approval or consent for such additions, Alterations and/or improvements pursuant to this Lease; and (ii) the value of such additions, Alterations and/or improvements causes the actual replacement value of the Building to exceed the amount of insurance maintained by Landlord pursuant to Section 7.1 of this Lease. Further, notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 10.1 to repair or restore any portion of any alterationsAlterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by LandlordLandlord for application to such use. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterationsAlterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Lease.
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FIRE OR CASUALTY. (a) If the Premises or the Building (including machinery or equipment used in its operationthe operation of the Building) shall be damaged by fire or other casualty and if such damage does not cause render all or a termination substantial portion of this Lease as described in the following sentencesPremises or Building untenantable, then Landlord shall repair and restore the damage same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% all or a substantial portion of the Premises or Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Yearuntenantable, Landlord shall have the right to terminate this Lease as (with appropriate prorations of rent being made for Tenant's possession subsequent to the date of such damage of those tenantable portions of the Premises) upon giving written notice given to the Tenant at any time within one hundred twenty (120) 120 days after the date of such damage. If (iii) above occurs ; and if such notice is given Landlord shall have no obligation to repair or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggeredrestore. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, Lease by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rentRent, however, shall axxxx xxxxx on those portions of the Premises Premise as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. .
(b) Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 Paragraph 11 to repair or restore any portion of any alterations, additions, installation additions or improvements in the Premises or the decoration decorations thereto except to the extent that such alterations, additions, improvements and decorations were provided by Landlord at the proceeds beginning of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the LeaseTerm.
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FIRE OR CASUALTY. If (a) Except as provided in paragraph 13 relating to repair of the Premises, if the Premises or the Building building (including machinery or and equipment used in its operation) shall be are wholly or partially destroyed or damaged by fire or other casualty which is covered by the usual form of fire and extended coverage insurance, and if such destruction or damage does is not cause a termination caused by the act or neglect of this Lease as described in the following sentencesLessee, its agents or servants, then Landlord Lessor shall be obligated to repair and restore the damage same with reasonable promptness, subject unless Lessor elects to reasonable delays for insurance adjustments terminate this lease as hereinafter set forth. In the event the Premises or the building are wholly or partially destroyed or damaged as a result of any cause, other than the perils covered by the usual form of fire and delays caused extended coverage insurance, or in the event the Premises or the building are destroyed or damaged by matters beyond Landlord’s reasonable control, but Landlord shall any fire or casualty to the extent of not be obligated to expend for repairing or restoring the damage an amount in excess less than twenty-five percent (25%) of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualtyreplacement cost thereof, then Landlord Lessor shall give have the option to terminate this lease by giving notice to Tenant of such estimate Lessee within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following after the occurrence of such damage or destruction. If Lessor does not terminate this lease as provided above, it shall proceed to complete the necessary restoration or repairs with reasonable promptness and this lease shall continue in full force and effect; provided, however, that if any destruction or damage not caused by the act or neglect of Lessee, its agents or servants, renders the Premises untenantable, and if this lease is not terminated as provided herein by reason of such damage or destruction, then rent shall abatx xxxing the period beginning with the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of destruction or damage and end with the date of Tenant’s notice. If any such damage (i) renders 25% of when the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from Premises are again rendered tenantable by an amount bearing the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage upon written notice given same ratio to the Tenant at any time within one hundred twenty (120) days after total amount of rent due for such period that the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions untenantable portion of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything bears to the contrary herein set forth, Landlord entire Premises.
(b) Lessor shall have in no duty pursuant to this Section 6.2 event be obligated to repair any injury or restore damage by fire or other cause or to make any portion repairs or replacements of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or items originally installed by Tenant which would become the Landlord’s property upon the termination of the LeaseLessee at its expense.
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Samples: Office Lease (Allos Therapeutics)
FIRE OR CASUALTY. If In the Premises event that the whole or a substantial part of the Building or the Building (including machinery Demised Premises is damaged or equipment used in its operation) shall be damaged destroyed by fire or other casualty and if casualty, then, within forty-five (45) days after the date that Landlord receives notice of such damage does not cause a termination of this Lease as described in the following sentencesfire or other casualty, then Landlord shall provide written notice to Tenant as to whether Landlord intends to repair or rebuild and restore the damage with reasonable promptness, subject to reasonable delays estimated time period for insurance adjustments and delays caused by matters beyond the completion thereof. In the event that Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring 's notice provides that the damage an amount in excess of the proceeds of insurance recovered with respect repairs to the damage. If in Landlord’s estimate the Demised Premises cannot be restored within shall require more than two hundred seventy (270) days from the date of such fire or casualtyto complete, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease by providing written notice thereof to Landlord within thirty days (30) after receipt of Landlord's notice. In the event that Landlord elects to repair or rebuild (and Tenant does not have the right to, or has elected not to, terminate this Lease in accordance with the foregoing sentence), Landlord shall thereupon cause the damage (excepting, however, Tenant's furniture, fixtures, equipment and improvements, which shall be Tenant's responsibility to restore) to be repaired with reasonable speed, subject to delays beyond the reasonable control of Landlord. In the event the damage shall be so extensive that Landlord shall decide not to repair or rebuild, or if any mortgagee, having the right to do so, shall direct that the insurance proceeds are to be applied to reduce the mortgage debt rather than to the repair of such damage, this Lease shall, be terminated effective as of the date of such damage upon written notice given to casualty. To the Tenant at any extent and for the time within one hundred twenty (120) days after that the date Demised Premises are rendered untenantable on account of such damage. If (iii) above occurs fire or Landlord fails to restore the Premises within one hundred eighty (180) days after the other casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord rent shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Leaseproportionately xxxxx.
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FIRE OR CASUALTY. If (a) Section 7 hereof notwithstanding, if the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s 's estimate the Premises cannot be restored within two three hundred seventy sixty-five (270365) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety one hundred twenty (90120) days after such fire or casualty. casualty and Tenant may elect in writing within sixty (60) days following the date of such notice from Landlord, time being of the essence, Landlord to terminate this Lease effective as of the date of Tenant’s 's notice. If any such damage damage: (i) renders 25% three (3) or more floors of the Building untenantable untenantable; or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s 's reasonable estimate within two three hundred seventy sixty-five (270365) days from the date of such damage damage, or (iii) occurs within the last two (2) Lease YearYears, Landlord shall have the right to terminate this Lease as of the date of such damage upon giving written notice given to the Tenant at any time within one hundred twenty (120) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rentRent, however, shall axxxx xxxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. .
(b) Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 11 to repair or restore any portion of the Work or any other alterations, additions, installation installations or improvements in the Premises or the decoration decorations thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other or additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s 's sole cost and expense subject to all of the applicable provisions of the LeaseSections 7 and 8 hereof. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage coverage, whether carried by Landlord or Tenant, for damage to Tenant's Work or any other alterations, additionadditions, installationinstallations, improvements or decorations performed or installed by Tenant which would become the Landlord’s 's property upon the termination of the this Lease.
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FIRE OR CASUALTY. (a) If the Premises or the Building (including machinery or equipment used in its operationthe operation of the Building) shall be damaged by fire or other casualty and if such damage does not cause render all or a termination substantial portion of this Lease as described in the following sentencesPremises or Building untenantable, then Landlord shall repair and restore the damage same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% all or a substantial portion of the Premises or Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Yearuntenantable, Landlord shall have the right to terminate this Lease as (with appropriate prorations of rent being made for Tenant's possession subsequent to the date of such damage of those tenantable portions of the Premises) upon giving written notice given to the Tenant at any time within one hundred twenty (120) 90 days after the date of such damage. If (iii) above occurs ; and if such notice is given Landlord shall have no obligation to repair or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggeredrestore. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, Lease by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rentRent, however, shall axxxx xxxxx on those portions of the Premises Premise as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage; provided, however, Landlord agrees to proceed to complete repairs with due diligence, subject to delays caused by matters beyond Landlord's reasonable control, if this Lease is not terminated. Base Rent, however, shall xxxxx on those portions of the Premises which as are, from time to time, untenantable for the purpose for which they were leased as a result of such damage.
(b) Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 Paragraph 11 to repair or restore any portion of any alterations, additions, installation additions or improvements in the Premises or the decoration decorations thereto except to the extent that such alterations, additions, improvements and decorations were provided by Landlord at the proceeds beginning of the insurance carried by Term.
(c) Within 90 days after any casualty to the Premises or the Building, Landlord shall give written notice to Tenant are timely received of the determination by Landlord's architect of the reasonably estimated period for completion of repairs. If Tenant desires any other additional it is estimated such repairs will take longer than 180 days and such damage has been to the Premises or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all a portion of the applicable provisions Building which materially interferes with Tenant's access to or use of the LeasePremises, Tenant shall have a right to terminate this Lease by written notice delivered to Landlord within 15 days following receipt of Landlord's notice. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried Unless this Lease is terminated by Landlord or TenantTenant in accordance with the terms of this Xxxxxxxxx 00, for damage Xxxxxxxx shall proceed with due diligence to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination complete repair of the LeasePremises and the Building subject to delays caused by matters beyond Landlord's reasonable control.
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FIRE OR CASUALTY. 20.1 If the Premises or the Building (including machinery are totally or equipment used in its operation) shall be partially damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in destroyed thereby rendering the following sentencesPremises totally or partially inaccessible or unusable, then Landlord shall promptly commence and diligently repair and restore the Premises and the Building to substantially the same condition they were in prior to such damage with reasonable promptnessor destruction; provided, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable controlhowever, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If that if (a) in Landlord’s estimate the Premises 's reasonable judgement such repair and restoration cannot be restored completed within two hundred seventy (270) days from after the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date occurrence of such damage or destruction (iiitaking into account the time needed for effecting a satisfactory settlement with any insurance company involved, removal of debris, preparation of plans and issuance of all required governmental permits) occurs within or (b) twenty percent (20%) or more of the last Lease YearPremises is damaged and less than six (6) months would remain of the Term or any renewal thereof upon completion of the repairs, Landlord then either party shall have the right right, at its option, to terminate this Lease as of the date of such damage upon or destruction by giving written notice given of termination to the Tenant at any time other party within one hundred twenty forty-five (12045) days after the occurrence of such damage or destruction. Termination by Tenant under this section 20.1 shall not require the payment of any early termination penalties set forth herein.
20.2 If this Lease is terminated pursuant to Section y20.1 above, then all rent shall be apportioned (based on the portion of the Premises which is usable after such damage or destruction) and paid to the date of such damagetermination. If (iii) above occurs this Lease is not terminated as a result of such damage or Landlord fails to restore destruction, then until such repair and restoration of the Premises within one hundred eighty (180) days after the casualtyare substantially complete, Tenant may terminate this Lease within thirty (30) days following shall be required to pay the date upon which basic annual rent only for the portion of the Premises that is usable while such termination rights was triggeredrepair and restoration are being made. Landlord shall have no liability bear the expenses of repairing and restoring the Premises and the Building; provided, however, that Landlord shall not be required to repair or restore the contents of the Premises, including without limitation, alterations, decorations, furnishings, fixtures and equipment used or installed in the Premises by or on behalf of Tenant and any other personal property of Tenant, and . Tenant shall not be entitled to terminate this Lease, by virtue any compensation or damages from Landlord for loss of the use of the whole or any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions portion of the Premises as areor for any inconvenience or annoyance occasioned by any such damage, from time repair or restoration. In the event that Landlord undertakes to reconstruct the Building but fails to complete the repair or restoration within sixty (60) days beyond the estimated repair time, untenantable and, in fact, unoccupied Tenant shall have the right to terminate this Lease by Tenant as a result of such damage. written notice to Landlord.
20.3 Notwithstanding anything herein to the contrary herein set forthcontrary, Landlord shall have no duty pursuant not be obligated to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except Building and shall have the right to terminate this Lease if (a) the holder of any mortgage fails or refuses to make insurance proceeds available for such repair and restoration, (b) zoning or other applicable laws or regulations do not permit such repair and restoration, or (c) the cost of repairing and restoring the Building would exceed fifty percent (50%) of the replacement value of the Building, whether or not the Premises is damaged or destroyed, provided the leases of all other tenants in the Building are similarly terminated.
20.4 Notwithstanding anything herein to the extent that contrary, all injury or damage to the proceeds Premises resulting from the fault or negligence of the insurance carried Tenant, its employees, agents, contractors or invitees shall be repaired by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost 's expense and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord Rent shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Leasenot abate.
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FIRE OR CASUALTY. If A. Paragraph 9 hereof notwithstanding, if the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty casualty, and if such damage does not cause render all or a termination substantial portion of this Lease as described in the following sentencesPremises or Building untenantable, and such damage is a casualty covered under Tenant's insurance pursuant to Paragraph 14 above, then Landlord Tenant shall repair and restore the damage same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s Tenant's reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% all or a substantial portion of the Premises or Building untenantable untenantable, either Tenant or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of Rent being made for Tenant's possession subsequent to the date of such damage of those tenantable portions of the Premises) upon giving written notice given to the Tenant other at any time within one hundred twenty sixty (12060) days after the date of such damage. If Unless this Lease is terminated as provided in the two (iii2) above occurs or Landlord fails proceeding sentences and such damage is a casualty covered under Tenant's insurance pursuant to Paragraph 14C above, Tenant shall proceed with reasonable promptness to repair and restore the Premises within one hundred eighty (180) days after subject to reasonable delays for insurance adjustments and delays caused by matters beyond Tenant's reasonable control.
B. In the casualty, Tenant may terminate this Lease within thirty (30) days following event the date upon which Building is damaged by fire or other casualty resulting from Tenant's fault or neglect and the Building is to be repaired and restored because such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall damage does not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall axxxx on those portions render all or a substantial portion of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Lease.Building
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FIRE OR CASUALTY. If the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two three hundred seventy sixty-five (270365) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety one hundred twenty (90120) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, Landlord to terminate this Lease effective as of the date of Tenant’s notice. If any such damage damage: (i) renders 25% of the Building untenantable untenantable; or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two three hundred seventy sixty five (270365) days from the date of such damage damage, or (iii) occurs within the last two (2) Lease Yearyears, Landlord shall have the right to terminate this Lease as of the date of such damage upon giving written notice given to the Tenant at any time within one hundred twenty (120) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rentRent, however, shall axxxx xxxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Lease.
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FIRE OR CASUALTY. (a) If the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty (except fires or other casualties resulting from Tenant’s fault or neglect) and if such damage does not cause render all or a termination substantial portion of this Lease as described the Premises or Building untenantable, or in the following sentencesLandlord’s reasonable judgment require more than 180 days to complete, then Landlord shall repair and restore the damage same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, control but Landlord shall not be obligated to expend for repairing or restoring the damage therefor an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s noticethereto. If any such damage (i) renders 25% all or a substantial portion of the Premises or Building untenantable untenantable, or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) judgment requires more than 180 days from the date of such damage or (iii) occurs within the last Lease Yearto restore, Landlord either party shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of Rent being made for Tenant’s possession subsequent to the date of such damage of those tenantable portions of the Premises) upon giving written notice given to the Tenant other party at any time within one hundred twenty sixty (12060) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rentRent, however, shall axxxx xxxxx on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything In the event that Landlord should fail to complete such repairs and rebuilding within one hundred eighty (180) days after the contrary herein set forth, date upon which Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried is notified by Tenant are timely received of such damage, Tenant may at its option terminate this Lease by Landlord. If Tenant desires any other additional repairs or restoration, and if delivering written notice of termination to Landlord consents thereto, it shall be done at as Tenant’s sole cost exclusive remedy, whereupon all rights and expense subject to all of the applicable provisions of the Lease. obligations hereunder shall cease and terminate.
(b) Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage coverage, whether carried by Landlord or Tenant, for damage to any alterations, addition, installationadditions, improvements or decorations performed provided by Landlord either directly or installed by Tenant which would become indirectly through an allowance to Tenant.
(c) Notwithstanding anything to the Landlord’s property upon the termination contrary herein set forth, Landlord shall not be obligated pursuant to this Section to repair or restore any portion of the Leasealterations, additions or improvements in the Premises or the decorations thereto. In the event this Lease is terminated as a result of a casualty, Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage, whether carried by Landlord or Tenant, for damage to alterations, additions, improvements or decorations provided by Landlord either directly or through an allowance to Tenant.
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Samples: Lease (Amarin Corp Plc\uk)
FIRE OR CASUALTY. If (a) Unless the Lease is terminated as hereinafter provided, if the Premises or the Building (including machinery or equipment used in its operation) shall be damaged or destroyed in whole or in any part by fire fire, or other casualty casualty, Tenant shall at its own cost and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall expense promptly repair and restore the Premises, including any leasehold additions or improvements, to the condition immediately prior to such damage with reasonable promptness, subject or destruction. Insurance proceeds received by Tenant pursuant to reasonable delays for insurance adjustments the provisions of this Lease shall be applied to the cost of repairs and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring restoration.
(b) If the damage an amount in excess or destruction shall occur (i) during the last year of the proceeds original term of insurance recovered with respect this Lease or at any time during any renewal term, or (ii) at any time during the original term of this Lease and the cost of repairs or restoration shall exceed fifty percent (50%) of the replacement value of the Premises and improvements (exclusive of foundations and footings) in their condition just prior to the damage. If in Landlord’s estimate occurrence of the Premises cannot be restored within two hundred seventy (270) days from the date of such fire damage or casualtydestruction, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing may, no later than sixty (60) days following the date of such damage, give Landlord notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage upon written notice given to the Tenant at any time within one hundred twenty (120) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled that it elects to terminate this Lease.
(c) If such notice shall be given pursuant to subparagraph (b) above, by virtue (i) this Lease shall terminate on the date given in such notice with the same effect as if it were the date herein specified for the expiration of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, the Lease term; (ii) Tenant shall axxxx on those portions surrender possession of the Premises as are, from within a reasonable time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore thereafter; (iii) any rent paid for any portion of any alterations, additions, installation the Lease term beyond the date of damage or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it destruction shall be done at repaid to Tenant’s sole cost ; and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that (iv) Landlord shall be entitled to the full proceeds insurance proceeds, set forth in Paragraphs 7 and 13 of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the this Lease.
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FIRE OR CASUALTY. If Paragraph 8 hereof notwithstanding, if the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty (except fires or other casualties resulting from Tenant's fault or neglect) and if such damage does not cause render all or a termination substantial portion of this Lease as described in the following sentencesthe, Premises or Building untenantable, then Landlord shall repair and restore the damage same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% all or a substantial portion of the Premises or Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Yearuntenantable, Landlord shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of the Premises) upon giving written notice given to the Tenant at any time within one hundred twenty sixty (12060) days after the date of such damage. If any such damage renders all or more than fifty percent (iii50%) above occurs or Landlord fails to restore of the Premises untenantable and if such damage does not result from Tenant's fault or neglect, Tenant shall also have the right to terminate this Lease as of the date of such damage upon giving written notice to Landlord at any time within one hundred eighty forty-five (18045) days after the casualty, Tenant may terminate date of such damage. Unless this Lease within thirty (30) days following is terminated as provided in the date upon which two preceding sentences and so long as such termination rights was triggereddamage does not result from Tenant's fault or neglect, Landlord shall proceed with reasonable promptness to repair and restore the Premises, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord's reasonable control. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, Lease by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rentRent, however, shall axxxx abate on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant uxxxxxntable as a result of such damage. In the event the Building is damaged by fire or other casualty resulting from Tenant's failure or neglect, Landlord shall have no obligation to repair or restore the Building or any part thereof and Tenant shall not be released from any of its obligations hereunder (including, without limitation, its duty to repair the Premises and its liability to Landlord for damages caused by such fire or other casualty.). Tenant hereby acknowledges that Landlord is under no obligation to insure Landlord's interest in the Premises or the Building. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any the alterations, additions, installation additions or improvements in the Premises or the decoration thereto except to the extent that such alterations, additions, improvements and decoration were provided by Landlord, at Landlord's cost, at the proceeds beginning of the insurance carried by Tenant are timely received by LandlordTerm. If Tenant desires wants any other or additional repairs or restoration, restoration and if Landlord consents thereto, it the same shall be done at Tenant’s sole cost and 's expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the LeaseSection 8 hereof.
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