FIRE OR CASUALTY. (a) If the Premises or the Building (including machinery or equipment used in the operation of the Building) shall be damaged by fire or other casualty and if such damage does not render all or a substantial portion of the Premises (in the case of the Premises, substantial shall mean 20% or more of the area of the Premises) or Building untenantable, then Landlord shall repair and restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control and subject to Lxxxxxxx’s receipt of insurance proceeds sufficient to perform such repairs. If any such damage renders all or a substantial portion of the Premises or Building untenantable, Landlord shall have the right to terminate this Lease (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 to the Tenant at any time within 120 days after the date of such damage; and if such notice is given Landlord shall have no obligation to repair or restore. 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. Rent, however, shall axxxx (but only to the extent Landlord receives rent loss insurance proceeds) on those portions of the Premises as are, from time to time, untenantable, as a result of such damage, and provided such damage was not caused by Tenant or any of Tenant’s employees, agents or contractors.
Appears in 3 contracts
Samples: Office Lease Agreement (Semper Paratus Acquisition Corp), Office Lease Agreement (Semper Paratus Acquisition Corp), Office Lease Agreement (Semper Paratus Acquisition Corp)
FIRE OR CASUALTY. (a) If the Premises Premises, or the Building (including machinery access to them, are wholly or equipment used in the operation of the Building) shall be damaged partially destroyed by fire or other casualty covered by the extended coverage insurance maintained by Landlord for the Building, within ninety (90) days of such destruction, Landlord shall commence to rebuild, repair or restore the Premises and access thereto to substantially the same condition as when the same were furnished to Tenant, excluding any improvements installed by Tenant and this Lease shall continue in full force and effect. If, however, the Building is so damaged or destroyed to the extent of more than one-third of its replacement cost, or to any substantial extent by a casualty not covered by insurance, Landlord, after giving thirty (30) days' notice to Tenant, may elect to terminate this Lease in lieu of so restoring the Premises (or access thereto, as applicable), if such damage does Landlord is terminating the leases of a majority of the tenants affected by the casualty. Landlord shall in no event be obligated to make any repairs or replacement of any items other than those items installed by or at the expense of the Landlord at the commencement of the Lease term. If the Premises are rendered totally or partially untenantable by a casualty not render all caused by Tenant (or a substantial its agents or employees) Base Rent shall abate during the period of rxxxxxtruction based on the ratio the untenantable portion of the Premises bears to the entire Premises. If at any time during the last twelve (in the case 12) months of the PremisesLease Term, substantial shall mean 20% or more of the area of the Premises) or Building untenantable, then Landlord shall repair and restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control and subject to Lxxxxxxx’s receipt of insurance proceeds sufficient to perform such repairs. If any such damage renders all or a substantial portion of the Premises or Building untenantable, Landlord shall have the right to terminate this Lease (with appropriate prorations of rent being made for Tenant’s possession subsequent access to the date of such damage of those tenantable portions of the Premises) upon giving written notice to the Tenant at any time within 120 days after the date of such damage; and if such notice is given Landlord shall have no obligation to repair Premises are wholly or restore. Landlord shall have no liability to Tenantpartially destroyed by fire or other casualty, and Tenant shall not be entitled to terminate this Lease by virtue of any delays in completion of such repairs and restoration. Rent, however, shall axxxx (but only to the extent Landlord receives rent loss insurance proceeds) on those portions of that Tenant cannot reasonably use and occupy the Premises as are, from time to time, untenantable, as a result of such damagefor the Permitted Use, and provided such damage was not caused by Tenant or any of Tenant’s employees, agents or contractors.will reasonably take more than sixty
Appears in 1 contract
FIRE OR CASUALTY. (a) If the Premises or the Building (including machinery or equipment used in the operation of the Buildingits 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 render all or a substantial portion of the Premises (in the case of the Premises, substantial shall mean 20% or more of the area of the Premises) or Building untenantable, or in Landlord’s reasonable judgment require more than 180 days to complete, then Landlord shall repair and restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control and subject but shall not be obligated to Lxxxxxxx’s receipt expend therefor an amount in excess of the proceeds of insurance proceeds sufficient to perform such repairsrecovered with respect thereto. If any such damage renders all or a substantial portion of the Premises or Building untenantable, Landlord or in Landlord’s reasonable judgment requires more than 180 days to restore, either party shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of rent 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 to the Tenant other party at any time within 120 sixty (60) days after the date of such damage; and if such notice is given Landlord shall have no obligation to repair or restore. 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. Rent, however, shall axxxx (but only to the extent Landlord receives rent loss insurance proceeds) xxxxx on those portions of the Premises as are, from time to time, untenantable, untenantable as a result of such damage, . In the event that Landlord should fail to complete such repairs and provided such damage was not caused rebuilding within one hundred eighty (180) days after the date upon which Landlord is notified by Tenant or any of such damage, Tenant may at its option terminate this Lease by delivering written notice of termination to Landlord as Tenant’s employeesexclusive remedy, agents or contractorswhereupon all rights and obligations hereunder shall cease and terminate.
Appears in 1 contract
Samples: Lease (Amarin Corp Plc\uk)
FIRE OR CASUALTY. (a) a. If the Premises or the Building (including machinery or equipment used in the operation of the Building) any part thereof shall be damaged by fire or any other casualty and if such damage does not render all or a substantial portion cause, Tenant shall give prompt notice thereof to Landlord. If, in the reasonable judgment of Landlord's architect, restoration of the Premises is feasible within a period of nine (in the case of the Premises, substantial shall mean 20% or more of the area of the Premises9) or Building untenantable, then Landlord shall repair and restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control and subject to Lxxxxxxx’s receipt of insurance proceeds sufficient to perform such repairs. If any such damage renders all or a substantial portion of the Premises or Building untenantable, Landlord shall have the right to terminate this Lease (with appropriate prorations of rent being made for Tenant’s possession subsequent to months from the date of such damage of those tenantable portions of the Premises) upon giving written notice to the Tenant at any time within 120 days after the date of such damage; and if such notice is given Landlord shall have no obligation to repair or restore. 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. Rent, however, shall axxxx (but only to the extent Landlord receives rent loss insurance proceeds) on those portions of the Premises as are, from time to time, untenantable, as a result of such damage, and provided such damage was not caused by Tenant, its agents, servants or invitees, Landlord shall restore the Premises to the extent of the Tenant or any Improvements set forth in the Work Agreement, provided that adequate insurance proceeds are made available to Landlord. Tenant agrees to make all proceeds of Tenant’s 's insurance policies available to Landlord in accordance with Tenant's insurance obligations set forth in Section 12, above. In addition, Tenant shall repair and restore, at Tenant's sole expense, all Alterations, furniture, fixtures and other property of Tenant located in the Premises prior to such casualty. If the Premises are unusable, in whole or in part, during such restoration, the Monthly Base Rent and Additional Rent hereunder shall be abated to the extent and for the period that the Premises are unusable; provided, however, that if such damage or destruction shall result from the act or omission of Tenant, its employees, agents or contractorsinvitees, Tenant shall not be entitled to any abatement of Monthly Base Rent or Additional Rent.
Appears in 1 contract
Samples: Work Agreement (Eurotech LTD)
FIRE OR CASUALTY. (a) in case of damage to the Premises by a risk insured against under Paragraph 17 hereof, Landlord, unless it shall otherwise elect as hereinafter provided, shall repair or cause to be repaired such damages with reasonable dispatch after receiving from the Tenant written notice of the damage. If the damages are such as to render the premises untenantable, the rent shall be abated to an extent corresponding with the period during which and the extent to which the Premises have become untenantable; provided, however, if such damages are caused by the carelessness or negligence or improper conduct of Tenant or of a Subtenant, or the Building agents, employees, visitors, invitees or licensees of Tenant or of a Subtenant, then notwithstanding such damages and untenantability, Tenant shall be liable for rent without abatement. In the event of damage to the Premises to the extent of more than fifty (including machinery or equipment used in the operation 50%) percent of the Building) shall value of such premises or if the Tenant's operations cannot reasonably be damaged by fire or other casualty and if such damage does not render all or a substantial portion of conducted from the Premises (in the case balance of the Premises, substantial Tenant shall mean 20% or more give Landlord written notice of the area of the Premisesdamage (but failure to give notice shall not be binding upon Landlord) or Building untenantable, then Landlord shall repair and restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building after which either party may determine with reasonable promptnessdispatch, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control and subject to Lxxxxxxx’s receipt that the Lease shall be terminated, in which event all rent shall abatx xxx the Lease terminate as of insurance proceeds sufficient to perform such repairs. If any such damage renders all or a substantial portion of the Premises or Building untenantable, Landlord shall have the right to terminate this Lease (with appropriate prorations of rent being made for Tenant’s possession subsequent to the date of such damage of those tenantable portions the occurrences of the Premises) upon giving written notice to the Tenant at any time within 120 days after the date of event causing such damage; and if such notice is given Landlord shall have no obligation to repair or restore. 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. Rent, however, shall axxxx (but only to the extent Landlord receives rent loss insurance proceeds) on those portions of the Premises as are, from time to time, untenantable, as a result of such damage, and provided such damage was not caused by Tenant or any of Tenant’s employees, agents or contractors.
Appears in 1 contract
Samples: Office Building Lease Agreement (Mindspring Enterprises Inc)
FIRE OR CASUALTY. (a) A. If the Premises or the Building (including machinery or equipment used in the operation of the Buildingits operation) shall be damaged by fire or other casualty and if such damage does not render all or a substantial portion of the Premises (in the case of the Premises, substantial shall mean 20% or more of the area of the Premises) or Building untenantableuntenantable and if such damage is covered by Landlord’s insurance, then Landlord shall repair and restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control and subject control, but shall not be obligated to Lxxxxxxx’s receipt expend therefore an amount in excess of the proceeds of insurance proceeds sufficient to perform such repairsrecovered with respect thereto. If any such damage renders all or a substantial portion of the Premises or Building untenantable or if such damage is uninsured and not covered by customary fire and extended coverage insurance or if any damage by fire or other casualty occurs within two (2) years of the Termination Date which renders all or a substantial portion of the Premises untenantable, Landlord and Tenant shall each have the right to terminate this Lease as of the date of such damage (with appropriate prorations of rent 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 to the Tenant other party at any time within 120 one hundred twenty (120) days after the date of such damage; and if such notice . If the Lease is given Landlord shall have no obligation to repair or restore. so terminated, 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. Rent, however, shall axxxx (but only to the extent Landlord receives rent loss insurance proceeds) xxxxx on those portions of the Premises as are, from time to time, untenantable, untenantable as a result of such damage, and provided such damage was not caused by Tenant or any of Tenant’s employees, agents or contractors.
Appears in 1 contract
Samples: Lease (Bancinsurance Corp)
FIRE OR CASUALTY. (a) If the Premises or the Building (including machinery or equipment used in the operation of the Building) shall be damaged by fire or other casualty and if such damage does not render all or a substantial portion of the Premises (in the case of the Premises, substantial shall mean 20% or more of the area of the Premises) or Building untenantable, then Landlord shall repair and restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building same with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control and subject to Lxxxxxxx’s receipt of insurance proceeds sufficient to perform such repairscontrol. If any such damage renders all or a substantial portion of the Premises or Building untenantable, Landlord shall have the right to terminate this Lease (with appropriate prorations of rent being made for Tenant’s 's possession subsequent to the date of such damage of those tenantable portions of the Premises) upon giving written notice to the Tenant at any time within 120 90 days after the date of such damage; and if such notice is given Landlord shall have no obligation to repair or restore. 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. Rent, however, shall axxxx (but only to the extent Landlord receives rent loss insurance proceeds) xxxxx on those portions of the Premises Premise as are, from time to time, untenantable, untenantable as a result of such damage; provided, and provided such damage was not however, Landlord agrees to proceed to complete repairs with due diligence, subject to delays caused by Tenant or any matters beyond Landlord's reasonable control, if this Lease is not terminated. Base Rent, however, shall xxxxx on those portions of Tenant’s employeesthe Premises which as are, agents or contractorsfrom time to time, untenantable for the purpose for which they were leased as a result of such damage.
Appears in 1 contract
FIRE OR CASUALTY. (a) If A. Paragraph 8 hereof notwithstanding, if the Leased Premises or the Building (including machinery or equipment used in the operation of the Buildingits operation) shall be damaged by fire or other casualty and if such damage does not not, in the judgment of Landlord, render all or a substantial portion of the Leased Premises (in the case of the Premises, substantial shall mean 20% or more of the area of the Premises) or Building untenantable, then Landlord shall shall, subject to the limitations set forth below, repair and or restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of such damage to the Building (but not the Leased Premises) with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control control. Landlord shall not be obligated to expend in repairs and subject to Lxxxxxxx’s receipt restoration an amount in excess of the proceeds of insurance proceeds sufficient recovered with respect to perform such repairscasualty. If any such damage renders all or a substantial portion of the Leased Premises or Building untenantable, Landlord shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of rent Base Rent being made for Tenant’s possession subsequent to after the date of such damage of those any tenantable portions of the Leased Premises) upon giving written notice to the Tenant at any time within 120 days after the date of such damage; and if such notice is given Landlord shall have no obligation to repair or restore. 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. RentHowever, however, Base Rent shall axxxx (but only xxxxx as to the extent Landlord receives rent loss insurance proceeds) on those portions of the Leased Premises as are, from time to time, untenantable, untenantable as a result of such damage, damage until Landlord shall have completed the repairs and provided such damage was not caused by Tenant or any restorations required of Tenant’s employees, agents or contractorsLandlord hereunder.
Appears in 1 contract
Samples: Lease (Stockeryale Inc)
FIRE OR CASUALTY. (a) A. If the Premises or the Building Property (including machinery or equipment used in the operation of the Buildingits operation) shall be damaged by fire or other casualty and if such damage does not render all or a substantial portion of the Premises (in the case of the Premises, substantial shall mean 20% or the Property untenantable, or in Landlord’s architect or contractor’s reasonable judgment in good faith require more of the area of the Premisesthan nine (9) or Building untenantablemonths to repair and restore, then Landlord shall repair and restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building with reasonable promptnesssame, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control and subject but Landlord shall not be obligated to Lxxxxxxx’s receipt expend therefor an amount in excess of the proceeds of insurance proceeds sufficient to perform such repairsrecovered with respect thereto. If any such damage renders all or a substantial portion of the Premises Premises, or Building the Property untenantable, or in Landlord’s architect or contractor’s reasonable judgment requires more than nine (9) months to repair and restore, Landlord shall provide Tenant written notice promptly after such determination and Landlord and Tenant shall each have the right to terminate this Lease (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 to the Tenant other at any time within 120 sixty (60) days after Tenant receives the date notice of such damage; and if such notice is given Landlord shall have no obligation to repair or restoreLandlord’s determination as set forth above. 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. Rent, however, shall axxxx (but only to the extent Landlord receives rent loss insurance proceeds) xxxxx on those portions of the Premises as are, from time to time, untenantable, untenantable as a result of such damage, and provided such damage was not caused by Tenant or any of Tenant’s employees, agents or contractors.
Appears in 1 contract
Samples: Lease (Quantum-Si Inc)
FIRE OR CASUALTY. (a) If A. Paragraph 8 hereof notwithstanding, if the Leased Premises or the Building (including machinery or equipment used in the operation of the Buildingits operation) shall be damaged by fire or other casualty and if such damage does not not, in the judgment of Landlord, render all or a substantial portion of the Leased Premises (in the case of the Premises, substantial shall mean 20% or more of the area of the Premises) or Building untenantable, then Landlord shall shall, subject to the limitations set forth below, repair and or restore the Premises (exclusive of tenant finishes and/or build-outs) or the core and shell of the Building such damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s 's reasonable control and subject not to Lxxxxxxx’s receipt of insurance proceeds sufficient to perform such repairsexceed 180 days. If any such damage renders all or a substantial portion of the Leased Premises or Building untenantable, Landlord shall have the right to terminate this Lease as of the date of such damage (with appropriate prorations of rent Base Rent and Additional Charges being made for Tenant’s 's possession subsequent to after the date of such damage of those any tenantable portions of the Leased Premises) upon giving written notice to the Tenant at any time within 120 ninety (90) days after the date of such damage; and if such notice is given Landlord shall have no obligation to repair or restore. 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 as long as the Leased Premises are restored within 180 days of the fire or other casualty. RentHowever, however, Base Rent and Additional Charges shall axxxx (but only xxxxx as to the extent Landlord receives rent loss insurance proceeds) on those portions of the Leased Premises as are, from time to time, untenantable, as a result of such damage, damage until Landlord shall have completed the repairs and provided such damage was not caused by Tenant or any restorations required of Tenant’s employees, agents or contractorsLandlord hereunder.
Appears in 1 contract
Samples: Privatebancorp Inc