Fire. Provided, and it is hereby expressly agreed, that if and whenever during the Term the Building shall be destroyed or damaged by fire, lightning or other perils as are insured against by the Landlord from time to time, then and in every such event: (a) If the damage or destruction to the Building renders twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Building, or if in the opinion of the Landlord the Building is damaged or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result of such damage or destruction exceeds twenty-five percent (25%) of the replacement cost thereof, then either party may, at its option, to be exercised within thirty (30) days of the happening of such damage or destruction, terminate this Lease by giving to the other party notice in writing of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full to the date of such destruction or damage. (b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, this Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and damage. In the event that neither the Landlord or the Tenant so terminate this Lease, then, the Landlord shall repair the Leased Premises (to the extent only of the Landlord’s work in connection with the original construction of the Leased Premises and for greater certainty shall in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b). (c) If the damage is such that the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion of the Landlord, to be given to the Tenant within thirty (30) days from the happening of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(b)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from the date of the happening of such damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in Paragraph 21(b). (d) If in the opinion of the Landlord, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leased, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part of the Leased Premises rendered unfit for occupancy bears to the whole of the Leased Premises, and the Landlord shall repair the damage (to the extent set out in Paragraph 21(b)) with all reasonable speed. (e) In the event the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, in accordance with the provisions of this Paragraph 21, it is acknowledged and agreed by the Tenant that the Landlord shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction of the Building or the Leased Premises. (f) The decision of the Landlord’s architect or engineer as to the time within which the Building and/or the Leased Premises can or cannot be repaired, the state of tenantability or fitness of the Leased Premises and/or the Building, and as to the date on which the Landlord’s work of repair is completed, shall be final and binding upon the parties hereto.
Appears in 2 contracts
Samples: Combination Agreement (Fenix Parts, Inc.), Combination Agreement (Fenix Parts, Inc.)
Fire. Provided, and it is hereby expressly agreed, that if and whenever during (a) If the Term the Building shall be Leased Premises are at any time damaged or destroyed or damaged by as a result of fire, lightning the elements, accident or other perils as are insured against by the Landlord from time to timetime pursuant to Paragraph 9 hereof, then and in every if as a result of such event:
occurrence: (ai) If fifty percent (50%) or more of the damage Leased Premises are rendered wholly unfit for occupancy; or destruction to (ii) the Building renders cost of repairing or rebuilding the Leased Premises exceeds twenty-five percent (25%) or more of the Building wholly unfit for occupancy replacement cost thereof; or if it is impossible or unsafe to use and occupy the Building, or if (iii) in the opinion of the Landlord the Building is damaged Landlord’s architect or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolishedengineer, whether to be re-constructed in whole or in part or not, or if given as soon as reasonably possible after the cost of repairing or rebuilding the Building as a result occurrence of such damage or destruction exceeds twenty-five percent destruction, the Leased Premises cannot be repaired with reasonable diligence within one hundred and twenty (25%120) days of the replacement cost thereofhappening of such damage or destruction, then then, in each case, either party may, at its option, to be exercised within thirty (30) days of the happening of such damage or destructionoccurrence, terminate this the Lease by giving to the other party notice in writing of the election to terminate the Lease. In the event of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full to the date of such destruction or damage.
(b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, this Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, destruction and the Minimum Rent and all other payments additional rent for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and or damage. In the event that neither .
(b) If the Landlord or does not elect to terminate the Tenant so terminate Lease in accordance with Subparagraph (a) of this LeaseParagraph 21, then, the Landlord shall commence with all reasonable diligence to reconstruct, rebuild or repair the Leased Premises (to the extent only of the Landlord’s work its obligations in connection with respect of the original construction of the Leased Premises and for greater certainty shall exclusive of any work performed in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy by or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion on behalf of the Tenant (the “Landlord, to be given to the Tenant within thirty (30) days from the happening ’s Work of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(bReconstruction”)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from . From the date of the happening of such damage or destruction and until the damage completion of the Landlord’s Work of Reconstruction, the Minimum Rent shall be repaired by the Landlord to the extent hereinbefore set out xxxxx (i) in Paragraph 21(b).
(d) If its entirety if, in the opinion of the Landlord’s architect or engineer, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leasedrendered wholly untenantable or (ii) proportionately, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part portion of the Leased Premises rendered unfit for occupancy bears to untenantable), if in the whole opinion of the Landlord’s architect or engineer, the Leased PremisesPremises are rendered untenantable only in part, and the Landlord shall repair the damage (subject, in either case, to the extent set out of the insurance proceeds actually received by the Landlord in respect of the insurance maintained pursuant to Paragraph 21(b9(a)(iii)) with all reasonable speed.
(ec) In the event If the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, Premises in accordance with the provisions of this Paragraph 21, it is acknowledged and agreed by the Tenant that the Landlord shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction of the Building or the Leased Premises.
(fd) The decision of the Landlord’s architect or engineer as to (i) the time within which the Building and/or the Leased Premises can or cannot be repaired, (ii) the state of tenantability or fitness extent of the damage or destruction to the Leased Premises and/or Premises, (iii) the Buildingcost of repairing or rebuilding the Leased Premises, and as to (iv) the date on which the Landlord’s work Work of repair Reconstruction is completed, shall shall, in each case, be final and binding upon the parties hereto.
Appears in 2 contracts
Samples: Combination Agreement (Fenix Parts, Inc.), Combination Agreement (Fenix Parts, Inc.)
Fire. Provided, and it is hereby expressly agreed, that if and whenever during If the Term the Building Premises shall be destroyed or partially damaged by firefire or similar casualty as is covered under insurance policies carried by Landlord, lightning or other perils as are insured against by the Landlord from time to time, then and in every such event:
(a) If the damage or destruction to the Building renders twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Building, or if in the opinion of the Landlord the Building is damaged or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result of such damage or destruction exceeds twenty-five percent (25%) of the replacement cost thereof, then either party may, at its option, to be exercised within thirty (30) days of the happening of such damage or destruction, terminate this Lease by giving to the other party notice in writing of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full to the date of such destruction or damage.
(b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, this Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and damage. In the event that neither the Landlord or the Tenant so terminate this Lease, then, the Landlord shall repair the Leased Premises (to the extent only of the Landlord’s work in connection with the original construction of the Leased Premises and for greater certainty shall in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by and at the expense of Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If provided for pursuant to the provisions thereof. Any fire or similar casualty damage is such that to the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, within the damage, in the opinion deductible limits of the Landlord, to be given to the Tenant within thirty (30) days from the happening of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(b)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from the date of the happening of such damage until the damage aforementioned policies shall be repaired by the Landlord to the extent hereinbefore set out in Paragraph 21(b).
(d) If in the opinion of the Landlord, the damage to the Leased Premises can be made good, but paid for by Tenant as aforesaid, within one hundred and twenty (120) days of the happening of such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leased, thenadditional rent. The rent, until such damage repairs are made, shall be apportioned according to the portion of the Premises which was damaged or which has been repaired (made unusable, whichever is less. Nevertheless the Lease shall continue in full force and effect. If the Premises are totally or substantially damaged by fire or similar casualty as is covered under policies required of Landlord pursuant to the extent set out covenants of this Lease, and if Landlord, at its option, decides not to restore or not to rebuild same, Landlord shall then, within sixty (60) days after such fire, give Tenant notice of such decision, and thereupon this Lease shall expire by lapse of time upon the fifth day after such notice is given. Tenant shall then vacate the Premises and surrender same to Landlord. For the purpose of this Lease substantial damage is defined as that which is greater than twenty (20%) percent of the insured value of the premises as determined by the cost estimate of Landlord. Tenant acknowledges that Landlord will not carry insurance on the furniture, furnishings, inventory, fixtures, equipment, improvements, alterations, additions, property, appurtenances, or similar items that are not the property of Landlord in Paragraph 21(b))or upon the Premises and agrees that Landlord is not and shall not be obligated to repair any damage or loss thereto, nor replace same, nor compensate any person or party for any loss, damage, or destruction regardless of cause and/or reason. In the Minimum Rent event Landlord, at its option, decides to restore or rebuild the Premises, no penalty shall xxxxx in the proportion that accrue for reasonable delay which may arise by reason of adjustment of insurance on the part of the Leased Premises rendered unfit Landlord and/or Tenant, or for occupancy bears to the whole delays on account of the Leased Premises, and the Landlord shall repair the damage (to the extent set out in Paragraph 21(b)) with all reasonable speed.
(e) labor troubles or other reasons or causes beyond Landlord's control. In the event the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, in accordance with the provisions this paragraph, Tenant explicitly waives applicability of this Paragraph 21, it is acknowledged N.J.S.A. 46:8-6 and agreed by the Tenant that the Landlord shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction of the Building or the Leased PremisesN.J.S.A. 46:8-7.
(f) The decision of the Landlord’s architect or engineer as to the time within which the Building and/or the Leased Premises can or cannot be repaired, the state of tenantability or fitness of the Leased Premises and/or the Building, and as to the date on which the Landlord’s work of repair is completed, shall be final and binding upon the parties hereto.
Appears in 2 contracts
Samples: Lease Modification and Extension Agreement (Danbury Pharmacal Puerto Rico Inc), Lease Modification and Extension Agreement (Schein Pharmaceutical Inc)
Fire. Provided, and it is hereby expressly agreed, that if and whenever during (a) If the Term the Building shall be Leased Premises are at any time damaged or destroyed or damaged by as a result of fire, lightning the elements, accident or other perils as are insured against by the Landlord from time to timetime pursuant to Paragraph 9 hereof, then and in every if as a result of such event:
occurrence: (ai) If fifty percent (50%) or more of the damage Leased Premises are rendered wholly unfit for occupancy; or destruction to (ii) the Building renders cost of repairing or rebuilding the Leased Premises exceeds twenty-five percent (25%) or more of the Building wholly unfit for occupancy replacement cost thereof; or if it is impossible or unsafe to use and occupy the Building, or if (iii) in the opinion of the Landlord the Building is damaged Landlord’s architect or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolishedengineer, whether to be re-constructed in whole or in part or not, or if given as soon as reasonably possible after the cost of repairing or rebuilding the Building as a result occurrence of such damage or destruction exceeds twenty-five percent destruction, the Leased Premises cannot be repaired with reasonable diligence within one hundred and twenty (25%120) days of the replacement cost thereofhappening of such damage or destruction, then then, in each case, either party may, at its option, to be exercised within thirty (30) days of the happening of such damage or destructionoccurrence, terminate this the Lease by giving to the the other party notice in writing of the election to terminate the Lease. In the event of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full to the date of such destruction or damage.
(b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, this Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, destruction and the Minimum Rent and all other payments additional rent for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and or damage. In the event that neither .
(b) If the Landlord or does not elect to terminate the Tenant so terminate Lease in accordance with Subparagraph (a) of this LeaseParagraph 21, then, the Landlord shall commence with all reasonable diligence to reconstruct, rebuild or repair the Leased Premises (to the extent only of the Landlord’s work its obligations in connection with respect of the original construction of the Leased Premises and for greater certainty shall exclusive of any work performed in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy by or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion on behalf of the Tenant (the “Landlord, to be given to the Tenant within thirty (30) days from the happening ’s Work of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(bReconstruction”)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from . From the date of the happening of such damage or destruction and until the damage completion of the Landlord’s Work of Reconstruction, the Minimum Rent shall be repaired by the Landlord to the extent hereinbefore set out xxxxx (i) in Paragraph 21(b).
(d) If its entirety if, in the opinion of the Landlord’s architect or engineer, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leasedrendered wholly untenantable or (ii) proportionately, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part portion of the Leased Premises rendered unfit for occupancy bears to untenantable), if in the whole opinion of the Landlord’s architect or engineer, the Leased PremisesPremises are rendered untenantable only in part, and the Landlord shall repair the damage (subject, in either case, to the extent set out of the insurance proceeds actually received by the Landlord in respect of the insurance maintained pursuant to Paragraph 21(b9(a)(iii)) with all reasonable speed.
(ec) In the event If the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, Premises in accordance with the provisions of this Paragraph 21, it is acknowledged and agreed by the Tenant that the Landlord shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction of the Building or the Leased Premises.
(fd) The decision of the Landlord’s architect or engineer as to (i) the time within which the Building and/or the Leased Premises can or cannot be repaired, (ii) the state of tenantability or fitness extent of the damage or destruction to the Leased Premises and/or Premises, (iii) the Buildingcost of repairing or rebuilding the Leased Premises, and as to (iv) the date on which the Landlord’s work Work of repair Reconstruction is completed, shall shall, in each case, be final and binding upon the parties hereto.
Appears in 2 contracts
Samples: Combination Agreement (Fenix Parts, Inc.), Combination Agreement (Fenix Parts, Inc.)
Fire. Provided, and it is hereby expressly agreed, that if and whenever during (a) If the Term the Building shall be Leased Premises are at any time damaged or destroyed or damaged by as a result of fire, lightning the elements, accident or other perils as are insured against by the Landlord from time to timetime pursuant to Paragraph 9 hereof, then and in every if as a result of such event:
occurrence: (ai) If fifty percent (50%) or more of the damage Leased Premises are rendered wholly unfit for occupancy; or destruction to (ii) the Building renders cost of repairing or rebuilding the Leased Premises exceeds twenty-five percent (25%) or more of the Building wholly unfit for occupancy replacement cost thereof; or if it is impossible or unsafe to use and occupy the Building, or if (iii) in the opinion of the Landlord the Building is damaged Landlord’s architect or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolishedengineer, whether to be re-constructed in whole or in part or not, or if given as soon as reasonably possible after the cost of repairing or rebuilding the Building as a result occurrence of such damage or destruction exceeds twenty-five percent destruction, the Leased Premises cannot be repaired with reasonable diligence within one hundred and twenty (25%120) days of the replacement cost thereofhappening of such damage or destruction, then then, in each case, either party may, at its option, to be exercised within thirty (30) days of the happening of such damage or destructionoccurrence, terminate this the Lease by giving to the other party notice in writing of the election to terminate the Lease. In the event of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full to the date of such destruction or damage.
(b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, this Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, destruction and the Minimum Rent and all other payments additional rent for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and or damage. In the event that neither .
(b) If the Landlord or does not elect to terminate the Tenant so terminate Lease in accordance with Subparagraph (a) of this LeaseParagraph 20, then, the Landlord shall commence with all reasonable diligence to reconstruct, rebuild or repair the Leased Premises (to the extent only of the Landlord’s work its obligations in connection with respect of the original construction of the Leased Premises and for greater certainty shall exclusive of any work performed in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy by or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion on behalf of the Tenant (the “Landlord, to be given to the Tenant within thirty (30) days from the happening ’s Work of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(bReconstruction”)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from . From the date of the happening of such damage or destruction and until the damage completion of the Landlord’s Work of Reconstruction, the Minimum Rent shall be repaired by the Landlord to the extent hereinbefore set out xxxxx (i) in Paragraph 21(b).
(d) If its entirety if, in the opinion of the Landlord’s architect or engineer, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leasedrendered wholly untenantable or (ii) proportionately, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part portion of the Leased Premises rendered unfit for occupancy bears to untenantable), if in the whole opinion of the Landlord’s architect or engineer, the Leased PremisesPremises are rendered untenantable only in part, and the Landlord shall repair the damage (subject, in either case, to the extent set out of the insurance proceeds actually received by the Landlord in respect of the insurance maintained pursuant to Paragraph 21(b9(a)(iii)) with all reasonable speed.
(ec) In the event If the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, Premises in accordance with the provisions of this Paragraph 2120, it is acknowledged and agreed by the Tenant that the Landlord shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction of the Building or the Leased Premises.
(fd) The decision of the Landlord’s architect or engineer as to (i) the time within which the Building and/or the Leased Premises can or cannot be repaired, (ii) the state of tenantability or fitness extent of the damage or destruction to the Leased Premises and/or Premises, (iii) the Buildingcost of repairing or rebuilding the Leased Premises, and as to (iv) the date on which the Landlord’s work Work of repair Reconstruction is completed, shall shall, in each case, be final and binding upon the parties hereto.
Appears in 1 contract
Fire. Provided, and it is hereby expressly agreed, that if and whenever 15.1 In case of any damage to the building on the property by fire or other casualty occurring during the Term the Building shall be destroyed or damaged by fire, lightning or other perils as are insured against by the Landlord from time to time, then and in every such event:
(a) If the damage or destruction to the Building renders twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Building, or if in the opinion of the Landlord the Building is damaged or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result of such damage or destruction exceeds twenty-five percent (25%) of the replacement cost thereof, then either party may, at its option, to be exercised within thirty (30) days of the happening of such damage or destruction, terminate this Lease by giving to the other party notice in writing of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms term of this lease shall be apportioned and paid in full to or previous thereto, which renders the date of such destruction or damage.
(b) If the damage or destruction is such leased premises wholly untenantable so that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, same cannot be repaired with reasonable diligence and restored to the condition existing immediately prior to the casualty within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, this Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and damage. In the event that neither the Landlord or the Tenant so terminate this Lease, then, the Landlord shall repair the Leased Premises (to the extent only of the Landlord’s work in connection with the original construction of the Leased Premises and for greater certainty shall in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion of the Landlord, to be given to the Tenant within thirty (30) days from the happening of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(b)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, thenthen the terms hereby created, shall, a the Minimum Rent hereby reserved shall xxxxxoption of the Tenant, to the extent of all insurance coverage received by the Landlord, terminate from the date of such damage. In the happening event the Tenant elects to terminate the lease for any reason which is due to the inability of such damage until the damage shall be repaired by the Landlord to restore the extent hereinbefore set out in Paragraph 21(b).
same within the one hundred twenty (d120) If in the opinion of day period, Tenant shall notify the Landlord, the damage to the Leased Premises can be made goodin writing, as aforesaidcertified mail, return receipt requested, of such a fact within one hundred and twenty thirty (12030) days of the happening of such destruction the fire or damagecasualty, and in such event the damage is such that Tenant shall immediately surrender the Leased Premises are capable leased premises and shall pay rent only to the time of being partially used for the purpose for which the Leased Premises are hereby leased, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part of the Leased Premises rendered unfit for occupancy bears to the whole of the Leased Premises, and the Landlord shall repair may re-enter and re-possess the damage (to the extent set out in Paragraph 21(b)) with all reasonable speed.
(e) premises, discharged from this lease. In the event the Landlord can restore the premises within one hundred twenty (120) days, it shall elect advise the Tenant of such fact, in writing, certified mail, return receipt requested and the lease shall remain in full force and effect during the period of Landlord's restoration, except that rent shall xxxxx while the repairs and restorations are being made, but the rent shall recommence upon restoration of the premises and delivery of the same by the Landlord to repair, reconstruct or rebuild the Tenant. Landlord agrees that it will undertake reconstruction and restoration of the damaged premises with due diligence and reasonable speed and dispatch.
15.2 If the Building or shall be damaged, but the Leased Premisesdamage is repairable within one hundred twenty (120) days, as the case may be, in accordance with the provisions of this Paragraph 21, it is acknowledged and agreed by the Tenant that the Landlord agrees to repair the same with reasonable promptness. In such event, the rent accrued and accruing shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction not xxxxx, except for that portion of the Building or the Leased Premises.
(f) The decision of the Landlord’s architect or engineer as to the time within which the Building and/or the Leased Premises can or cannot be repaired, the state of tenantability or fitness of the Leased Premises and/or the Building, leased premises that has been rendered untenantable and as to that portion the date rent shall xxxxx, based on which equitable adjustments.
15.3 In connection with Landlord's restoration as hereinabove referred to, in determining what constitutes reasonable promptness, consideration shall be given to delays caused by acts of God, strikes, and other causes of Force Majeure beyond the Landlord’s work 's control.
15.4 The Tenant shall immediately notify the Landlord in case of repair is completedfire or other damage to the premises.
15.5 Notwithstanding anything contained in 15.1 or 15.2 above, if such repairs are for any reason not completed within one hundred twenty (120) days, then the Tenant shall have the right to terminate this lease, and in such event of termination Landlord and Tenant shall thereupon be released of liability one to the other, and the within lease shall be final deemed null and binding upon the parties heretovoid.
Appears in 1 contract
Fire. Provided, and it is hereby expressly agreed, that if and whenever 14.1 In case of any damage to the Building or the Property by fire or other casualty occurring during the Term the Building shall be destroyed or damaged by fire, lightning or other perils as are insured against by the Landlord from time to time, then and in every such event:
(a) If the damage or destruction to the Building renders twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Building, or if in the opinion of the Landlord the Building is damaged or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result of such damage or destruction exceeds twenty-five percent (25%) of the replacement cost thereof, then either party may, at its option, to be exercised within thirty (30) days of the happening of such damage or destruction, terminate this Lease by giving to the other party notice in writing of such terminationor previous thereto, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full to the date of such destruction or damage.
(b) If the damage or destruction is such that renders the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy wholly untenantable so that the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, same cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, this Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and damage. In the event that neither the Landlord or the Tenant so terminate this Lease, then, the Landlord shall repair the Leased Premises (to the extent only of the Landlord’s work in connection with the original construction of the Leased Premises and for greater certainty shall in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion of the Landlord, to be given to the Tenant within thirty (30) days from the happening of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(b)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, thenthen the terms hereby created shall, at the Minimum Rent hereby reserved shall xxxxxoption of the Landlord or Tenant, to the extent of all insurance coverage received by the Landlord, terminate from the date of the happening such damage, provided Landlord shall advise Tenant, in writing, within thirty (30) days of such damage until casualty that it cannot repair the damage shall be repaired by the Landlord to the extent hereinbefore set out in Paragraph 21(b).
(d) If in the opinion of the Landlord, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days. In the event the Landlord elects to terminate the Lease for any reason which is due to the inability to restore the Premises within the one hundred twenty- (120) day period, Landlord or Tenant shall notify the other, in writing, by certified mail, return receipt requested, of such a fact within forty (40) days of the happening of such destruction the fire or damagecasualty, and in such event the damage is such that Tenant shall immediately surrender the Leased Premises are capable and shall pay rent only to the time of being partially used for the purpose for which the Leased Premises are hereby leased, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part of the Leased Premises rendered unfit for occupancy bears to the whole of the Leased Premises, and the Landlord shall repair may re-enter and repossess the damage (to the extent set out in Paragraph 21(b)) with all reasonable speed.
(e) Premises discharged from this Lease. In the event the Landlord can restore the Premises within one hundred twenty (120) days, it shall elect advise the Tenant of such fact within thirty (30) days in writing, by certified mail, return receipt requested, and the Lease shall remain in full force and effect during the period of Landlord's restoration, except that rent shall xxxxx while the repairs and restorations are being made, but the rent shall recommence within ten (10) days after restoration of the Premises and delivery of the same by the Landlord to repairthe Tenant, reconstruct or rebuild together with a Certificate of Occupancy as required by applicable governmental authority having jurisdiction thereof. Landlord agrees that it will undertake reconstruction and restoration of the damaged Premises with due diligence and reasonable speed and dispatch. If a Certificate of Occupancy shall not be required, the Premises shall be deemed restored when Landlord shall certify to Tenant, in writing, that it has completed restoration.
14.2 If the Building or shall be damaged, but the Leased Premisesdamage is repairable by Landlord's estimation within one hundred twenty (120) days, as the case may be, in accordance with the provisions of this Paragraph 21, it is acknowledged and agreed by the Tenant that the Landlord shall be entitled agrees to use all plans and specifications and working drawings in connection therewith other than those used in repair the original construction of the Building or the Leased Premises.
(f) The decision of the Landlord’s architect or engineer as to the time within which the Building and/or the Leased Premises can or cannot be repairedsame with reasonable promptness. In such event, the state of tenantability or fitness rent accrued and accruing shall not xxxxx, except for that portion of the Leased Premises and/or the Buildingthat has been rendered untenantable, and as to that portion the date rent shall xxxxx based on equitable adjustments as determined by Landlord. The Leased Premises shall be deemed untenantable to the extent that access to the Premises shall be denied which shall include unavailability of elevator service, or if Tenant cannot conduct its business at the Premises in a normal manner as heretofore conducted prior to the fire or casualty.
14.3 In connection with Landlord's restoration as hereinabove referred to, in determining what constitutes reasonable promptness consideration shall be given to delays caused by acts of God, strikes, and other causes of Force Majeure beyond the Landlord’s work 's control.
14.4 The Tenant shall immediately notify the Landlord in case of repair is completedfire or other damage to the Premises.
14.5 Notwithstanding anything contained in 14.1 or 14.2 above, if such repairs are for any reason not completed within one hundred twenty (120) days, then the Tenant shall have the right to terminate this Lease, and in such event of termination Landlord and Tenant shall thereupon be released of liability one to the other, and the within Lease shall be final deemed null and binding upon the parties heretovoid.
Appears in 1 contract
Samples: Office Lease Agreement (First Montauk Financial Corp)
Fire. Provided, and it is hereby expressly agreed, that if If and whenever during the Term the Building shall be destroyed or damaged by fire, lightning or other perils as are insured against by the Landlord from time to time, then and in every such event:
(a) If the damage or destruction to the Building renders twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Building, or if in the opinion of the Landlord the Building is damaged or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result of such damage or destruction exceeds twenty-five percent (25%) of the replacement cost thereof, then either party may, the Landlord may at its option, to be exercised within thirty (30) days of the happening of such damage or destruction, terminate this Lease by giving to the other party Tenant notice in writing of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease Lease shall be apportioned and paid in full to the date of such destruction or damage.
(b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of either the Landlord Landlord’s architect or engineer, to be given to the Tenant other party within thirty (30) days of the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination termination, in which event, this Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and damage. In the event that neither the Landlord or the Tenant so terminate this Lease, then, the Landlord shall repair the Leased Premises (to the extent only of the Landlord’s work in connection with the original construction of the Leased Premises and for greater certainty shall in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b23(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, Premises but, if in either event, the damage, in the opinion of the Landlord, to be given to the Tenant within thirty (30) days from the happening of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(b23 (b)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from the date of the happening of such damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in Paragraph 21(b23(b).
(d) If in the opinion of the Landlord, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leased, then, until such damage has been repaired (to the extent set out in Paragraph 21(b23(b)), the Minimum Rent shall xxxxx in the proportion that the part of the Leased Premises rendered unfit for occupancy bears to the whole of the Leased Premises, and the Landlord shall repair the damage (to the extent set out in Paragraph 21(b)23(b) with all reasonable speed.
(e) In the event the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, in accordance with the provisions of this Paragraph 2123, it is acknowledged and agreed by the Tenant that the Landlord shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction of the Building or the Leased Premises.
(f) The decision of the Landlord’s architect or engineer as to the time within which the Building and/or the Leased Premises can or cannot be repaired, the state of tenantability or fitness of the Leased Premises and/or the Building, and as to the date on which the Landlord’s work of repair is completed, shall be final and binding upon the parties hereto.
(g) If the damage or destruction is caused by the fault, negligence, carelessness or misuse of the Tenant, its servants, agents, employees, contractors, or others for whom the Tenant is in law responsible, there shall be no abatement of the Minimum Rent or any other amounts payable by the Tenant hereunder.
Appears in 1 contract
Samples: Lease Agreement (Eloqua, Inc.)
Fire. Provided, and it is hereby expressly agreed, that if and whenever 13.1 In the event of the total destruction of the Premises by fire or other casualty during the Term term hereof, or in the Building shall be destroyed event of such partial destruction thereof as to render the Premiss wholly untenable or damaged by fire, lightning or other perils as are insured against by the Landlord from time to timeunfit for occupancy, then and in every either event, unless such event:
(a) If the damage or destruction to the Building renders twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Building, or if can in the opinion of Landlord, be repaired within ninety (90) days after the Landlord occurrence, this Lease and term hereby created, shall cease from the Building is damaged or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result date of such damage or destruction exceeds twenty-five percent (25%) of and Tenant shall, upon written notice from Landlord, immediately surrender the replacement cost thereofPremises to Landlord, then either party mayand Tenant shall pay, at its optionwithin said term, only to be exercised within thirty (30) days of the happening time of such damage or destruction. If, terminate however, in Landlord's opinion the damage as aforesaid can be repaired within ninety (90) days from the occurrence thereof, Landlord shall (unless Landlord shall elect not to repair or rebuild, as hereinafter provided), repair the Premises will reasonably speed, and this Lease shall continue tin full force and effect but the Rent and Additional Rent shall abate from the occurrence of the xxxxge until the completion of such repairs, unless such damage is due to the fault or neglect of Tenant, Tenant's servants, agents, employees, visitors or licensees, in which event there shall ben o such abatement or rent.
13.2 In the event of the partial destruction of the building or the Premises by fire or other casualty during the term hereof, which partial destruction does not render the Premises wholly untenable or unfit for occupancy, Landlord shall (unless Landlord shall elect not to repair or rebuild as hereinafter provided), repair the damage with all reasonable 107 speed and this Lease shall continue in full force and effect but until the completion of such repairs the Basic Rent and Additional Rent shall abate in proportion to the area of xxx Premises which is unusable by Tenant, unless such damage is due to the fault or neglect of Tenant, Tenant's servants, agents, employees, visitors or licensees in which event there shall be no such abatement of rent.
13.3 In the event that the building or the Premises shall be slightly damage by fire or other casualty so as not to substantially effect the operation of Tenant's business in the Premises then in that event, there shall be no abatement of rent and this Lease shall continue in full force and effect, and Landlord shall enter and repair the damage with all reasonable speed.
13.4 Notwithstanding anything contained here to the contrary: If the Premises is damaged by a casualty which is not insured or whose cost of repair or reconstruction exceeds the amount of insurance and Landlord decides, in its sole judgment, either not to repair, reconstruct or rebuild or to demolish the Premises or entire building, then upon the happening of any such event, Landlord may cancel this Lease by giving to the other party written notice in writing of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full cancellation to the date of such destruction or damage.
(b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of after the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, thereupon this Lease and the Term hereby demised term hereof shall cease and be at an end terminate as of the date of such damage or destruction, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and damage. In the event that neither the Landlord or the Tenant so terminate this Lease, then, the Landlord shall repair the Leased Premises (to the extent only of the Landlord’s work in connection with the original construction of the Leased Premises and for greater certainty shall in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion of the Landlord, to be given to the Tenant within thirty (30) days from the happening of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(b)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from the date of the happening of such damage until the damage and rent and other charges payable by Tenant shall be repaired by the Landlord prorated to the extent hereinbefore set out in Paragraph 21(b)day of such damage.
(d) If 13.5 Landlord shall use its best efforts to effect such repair or restoration promptly and in the opinion such manner as not to unreasonably interfere with Tenant's use and occupancy of the Landlord, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of but such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leased, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part of the Leased Premises rendered unfit for occupancy bears to the whole of the Leased Premises, and the Landlord shall repair the damage (to the extent set out in Paragraph 21(b)) with all reasonable speed.
(e) In the event the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, in accordance with the provisions of this Paragraph 21, it is acknowledged and agreed by the Tenant that the Landlord effort shall be entitled subject to use all plans and specifications and working drawings in connection therewith (i) Landlord's inability to obtain materials, (ii) acts of God, (iii) strikes, fire or weather, (iv) acts of governmental authority or any other than those used in cause beyond the original construction control of the Building or the Leased PremisesLandlord.
(f) The decision of the Landlord’s architect or engineer as to the time within which the Building and/or the Leased Premises can or cannot be repaired, the state of tenantability or fitness of the Leased Premises and/or the Building, and as to the date on which the Landlord’s work of repair is completed, shall be final and binding upon the parties hereto.
Appears in 1 contract
Fire. 23.01 Provided, and it is hereby expressly agreed, that if and whenever during the Term Term, the Building shall be destroyed or damaged by fire, lightning or other perils as are insured against by the Landlord from time to time, then and in every such event:
(a) 23.01.1 If the damage or destruction to the Building renders twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Building, or if in the reasonable opinion of the Landlord the Building is damaged or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed reconstructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result of such damage or destruction exceeds twenty-five percent (25%) of the replacement cost thereof, then either party may, the Landlord may at its option, to be exercised within thirty (30) days of the happening of such damage or destruction, terminate this Lease lease by giving to the other party Tenant notice in writing of such termination, in which event this Lease and the Term hereby demised denied shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease Lease shall be apportioned and paid in full to the date of such destruction or damage.
(b) 23.01.2 If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either other event, the damage, in the reasonable opinion of the Landlord Landlord, to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, destruction cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, then either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s 's opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination termination, in which event, event this Lease and the Term hereby demised devised shall cease and be at an end as of the date of such damage or destruction, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and damage. In the event that neither the Landlord or nor the Tenant so terminate this Lease, then, the Landlord shall repair the Leased Premises Premised (to the extent only of the Landlord’s 's work in connection with the original construction of the Leased Premises and for greater certainty shall in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent and additional rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b)state.
(c) 23.01.3 If the damage is such that the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the reasonable opinion of the Landlord, Landlord to be given to the Tenant within thirty (30) days from the happening of such damage damage, can be repaired (to the extent hereinbefore set out in Paragraph 21(b)23.01.2) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent and additional rent hereby reserved shall not xxxxx, . Subject to the extent provisions relating to Unavoidable Delay as set out in Paragraph 32.01 hereof, if the Landlord shall fail to repair the damage within the aforesaid period of all insurance coverage received by the Landlord, one hundred and twenty (120) days then Minimum Rent shall xxxxx from the date of the happening of such damage one hundred and twenty first (121st) day until the damage shall be repaired by the Landlord to the extent extend hereinbefore set out in Paragraph 21(b)23.01.2.
(d) If 23.01.4 If, in the reasonable opinion of the Landlord, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leased, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)23.01.2), the Minimum Rent shall xxxxx in to the proportion that the part of the Leased Premises rendered unfit for occupancy bears to the whole of the Leased Premises, and the Landlord shall repair the damage (to the extent set out in Paragraph 21(b)23.01.2) with all reasonable speed.
(e) 23.01.5 In the event the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, in accordance with the provisions of this Paragraph 2123, it is acknowledged and agreed by the Tenant that the Landlord shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction of the Building or the Leased Premises.; and
(f) 23.01.6 The decision of the Landlord’s 's architect or engineer as to the time within which the Building and/or the Leased Premises can or cannot be repaired, the state of tenantability or fitness of the Leased Premises and/or the Building, and as to the date on which the Landlord’s 's work of repair is completed, shall be final and binding upon the parties hereto.
Appears in 1 contract
Fire. Provided, and it is hereby expressly agreed, that if and whenever 13.1 In the event of the total destruction of the Premises by fire or other casualty during the Term term hereof, or in the Building shall be destroyed event of such partial destruction thereof as to render the Premiss wholly untenable or damaged by fire, lightning or other perils as are insured against by the Landlord from time to timeunfit for occupancy, then and in every either event, unless such event:
(a) If the damage or destruction to the Building renders twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Building, or if can in the opinion of Landlord, be repaired within ninety (90) days after the Landlord occurrence, this Lease and term hereby created, shall cease from the Building is damaged or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result date of such damage or destruction exceeds twenty-five percent (25%) of and Tenant shall, upon written notice from Landlord, immediately surrender the replacement cost thereofPremises to Landlord, then either party mayand Tenant shall pay, at its optionwithin said term, only to be exercised within thirty (30) days of the happening time of such damage or destruction. If, terminate however, in Landlord's opinion the damage as aforesaid can be repaired within ninety (90) days from the occurrence thereof, Landlord shall (unless Landlord shall elect not to repair or rebuild, as hereinafter provided), repair the Premises will reasonably speed, and this Lease shall continue tin full force and effect but the Rent and Additional Rent shall xxxxx from the occurrence of the damage until the completion of such repairs, unless such damage is due to the fault or neglect of Tenant, Tenant's servants, agents, employees, visitors or licensees, in which event there shall ben o such abatement or rent.
13.2 In the event of the partial destruction of the building or the Premises by fire or other casualty during the term hereof, which partial destruction does not render the Premises wholly untenable or unfit for occupancy, Landlord shall (unless Landlord shall elect not to repair or rebuild as hereinafter provided), repair the damage with all reasonable speed and this Lease shall continue in full force and effect but until the completion of such repairs the Basic Rent and Additional Rent shall xxxxx in proportion to the area of the Premises which is unusable by Tenant, unless such damage is due to the fault or neglect of Tenant, Tenant's servants, agents, employees, visitors or licensees in which event there shall be no such abatement of rent.
13.3 In the event that the building or the Premises shall be slightly damage by fire or other casualty so as not to substantially effect the operation of Tenant's business in the Premises then in that event, there shall be no abatement of rent and this Lease shall continue 125 in full force and effect, and Landlord shall enter and repair the damage with all reasonable speed.
13.4 Notwithstanding anything contained here to the contrary: If the Premises is damaged by a casualty which is not insured or whose cost of repair or reconstruction exceeds the amount of insurance and Landlord decides, in its sole judgment, either not to repair, reconstruct or rebuild or to demolish the Premises or entire building, then upon the happening of any such event, Landlord may cancel this Lease by giving to the other party written notice in writing of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full cancellation to the date of such destruction or damage.
(b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of after the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, then, either the Landlord or the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other notice in writing of such termination in which event, thereupon this Lease and the Term hereby demised term hereof shall cease and be at an end terminate as of the date of such damage or destruction, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and damage. In the event that neither the Landlord or the Tenant so terminate this Lease, then, the Landlord shall repair the Leased Premises (to the extent only of the Landlord’s work in connection with the original construction of the Leased Premises and for greater certainty shall in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion of the Landlord, to be given to the Tenant within thirty (30) days from the happening of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(b)) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from the date of the happening of such damage until the damage and rent and other charges payable by Tenant shall be repaired by the Landlord prorated to the extent hereinbefore set out in Paragraph 21(b)day of such damage.
(d) If 13.5 Landlord shall use its best efforts to effect such repair or restoration promptly and in the opinion such manner as not to unreasonably interfere with Tenant's use and occupancy of the Landlord, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of but such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leased, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part of the Leased Premises rendered unfit for occupancy bears to the whole of the Leased Premises, and the Landlord shall repair the damage (to the extent set out in Paragraph 21(b)) with all reasonable speed.
(e) In the event the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, in accordance with the provisions of this Paragraph 21, it is acknowledged and agreed by the Tenant that the Landlord effort shall be entitled subject to use all plans and specifications and working drawings in connection therewith (i) Landlord's inability to obtain materials, (ii) acts of God, (iii) strikes, fire or weather, (iv) acts of governmental authority or any other than those used in cause beyond the original construction control of the Building or the Leased PremisesLandlord.
(f) The decision of the Landlord’s architect or engineer as to the time within which the Building and/or the Leased Premises can or cannot be repaired, the state of tenantability or fitness of the Leased Premises and/or the Building, and as to the date on which the Landlord’s work of repair is completed, shall be final and binding upon the parties hereto.
Appears in 1 contract
Fire. Provided, and it is hereby expressly agreed, that if and whenever during (a) If the Term the Building shall be Leased Premises are at any time damaged or destroyed or damaged by as a result of fire, lightning the elements, accident or other perils as are insured against by the Landlord from time to timetime pursuant to Paragraph 10 hereof, then and in every if as a result of such event:
occurrences (ai) If fifty percent (50%) or more of the damage Leased Premises are rendered wholly unfit for occupancy; or destruction to (ii) the Building renders cost of repairing or rebuilding the Leased Premises exceeds twenty-five percent (25%) or more of the Building wholly unfit for occupancy or if it is impossible or unsafe to use and occupy the Buildingreplacement cost thereof, or if (iii) in the opinion of the Landlord the Building is damaged Landlord's architect or destroyed to such a material extent or the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished, whether to be re-constructed in whole or in part or not, or if the cost of repairing or rebuilding the Building as a result of such damage or destruction exceeds twenty-five percent (25%) of the replacement cost thereof, then either party may, at its optionengineer, to be exercised within thirty (30) days of given as soon as reasonably possible after the happening occurrence of such damage or destruction, terminate this Lease by giving to the other party notice in writing of such termination, in which event this Lease and the Term hereby demised shall cease and be at an end as of the date of such destruction or damage, and the Minimum Rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full to the date of such destruction or damage.
(b) If the damage or destruction is such that the Leased Premises are rendered unfit for occupancy or if it is impossible or unsafe to use and occupy the Leased Premises, and if in either event, the damage, in the opinion of the Landlord to be given to the Tenant within thirty (30) days of the happening of such damage or destruction, cannot be repaired with reasonable diligence within one hundred and twenty (120) days from of the happening of such damage or destruction, then, either in each case, the Landlord or may, at its option, let migrate the Tenant may within five (5) days next succeeding the giving of the Landlord’s opinion, as aforesaid, terminate this Lease by giving to the other Tenant notice in writing of the Landlord's intention to terminate the Lease. In the event of such termination in which eventtermination, this the Lease and the Term hereby demised shall cease and be at an end as of the date of such damage or destruction, destruction and the Minimum Rent and all other payments additional rent for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction and or damage. In the event that neither .
(b) If the Landlord or does not elect to terminate the Tenant so terminate Lease in accordance with Subparagraph (a) of this LeaseParagraph 22, then, the Landlord shall commence with all reasonable diligence to reconstruct, rebuild or repair the Leased Premises (to the extent only of its obligations in respect of the Landlord’s work in connection with the original construction of the Leased Premises and for greater certainty shall exclusive of any work performed in no event include any leasehold improvement or fixtures unless originally installed by the Landlord) with all reasonable speed and the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance recoveries received by the Landlord from the date of the happening of the damage until the damage shall be repaired by the Landlord to the extent hereinbefore set out in this Paragraph 21(b).
(c) If the damage is such that the Leased Premises are wholly unfit for occupancy or if it is impossible and unsafe to use and occupy the Leased Premises, but, if in either event, the damage, in the opinion of the Landlord, to be given to by the Tenant within thirty (30) days from the happening "Landlord's Work of such damage can be repaired (to the extent hereinbefore set out in Paragraph 21(bReconstruction")) with reasonable diligence within one hundred and twenty (120) days from the happening of such damage, then, the Minimum Rent hereby reserved shall xxxxx, to the extent of all insurance coverage received by the Landlord, from . From the date of the happening of such damage or destruction and until the damage completion of the Landlord's Work of Reconstruction, the Minimum Rent shall be repaired by the Landlord to the extent hereinbefore set out xxxxx (i) in Paragraph 21(b).
(d) If its entirety if, in the opinion of the Landlord's architect or engineer, the damage to the Leased Premises can be made good, as aforesaid, within one hundred and twenty (120) days of the happening of such destruction or damage, and the damage is such that the Leased Premises are capable of being partially used for the purpose for which the Leased Premises are hereby leasedrendered wholly untenantable or (ii) proportionately, then, until such damage has been repaired (to the extent set out in Paragraph 21(b)), the Minimum Rent shall xxxxx in the proportion that the part portion of the Leased Premises rendered unfit for occupancy bears to untenantable), if in the whole of opinion office Landlord's architect or engineer, the Leased Premises, and the Landlord shall repair the damage (to the extent set out Premises are rendered untenantable only in Paragraph 21(b)) with all reasonable speedpart.
(ec) In the event If the Landlord shall elect to repair, reconstruct or rebuild the Building or the Leased Premises, as the case may be, Premises in accordance with the provisions of this Paragraph 2122, it is acknowledged and agreed by the Tenant that the Landlord shall be entitled to use all plans and specifications and working drawings in connection therewith other than those used in the original construction of the Building or the Leased Premises.
(fd) The decision of the Landlord’s 's architect or engineer as to (i) the time within which the Building and/or the Leased Premises can or cannot be repaired, (ii) the state of tenantability or fitness extent of the damage or destruction to the Leased Premises and/or Premises, (iii) the Buildingcost of repairing or rebuilding the Leased Premises, and as to (iv) the date on which the Landlord’s work 's Work of repair Reconstruction is completed, shall shall, in each case, be final and binding upon the parties hereto. For the purposes of this Lease the Landlord's architect and engineer shall be Xxxxxx Xxxxxx Associates Inc., or such other architect or engineer named by the Landlord who is arm's length and of a similar stature.
Appears in 1 contract
Samples: Industrial Lease Agreement (Liuski International Inc /De)