Common use of INSURANCE, CASUALTY, AND RESTORATION OF PREMISES Clause in Contracts

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant shall maintain "all risk" property insurance in the amount of the full replacement value of the Building with reasonable adjustments for inflation from such companies and on such terms and conditions as Landlord from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings and other property of Tenant within the Premises, including the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property"). B. In the event that the Premises is damaged by fire or other insured casualty, Tenant shall deliver the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and the damage shall be repaired by and at the expense of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opinion, be made within 120 days after the occurrence of such damage, and any excess proceeds shall be returned to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates that it will be unable to repair and restore the Premises within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day period, then either party, by written notice to the other, may cancel this Lease as of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. Landlord and Tenant each agree that all policies of insurance obtained by them pursuant to the provisions of this Lease shall contain endorsements or

Appears in 4 contracts

Samples: Lease Agreement (Rentx Industries Inc), Lease Agreement (Rentx Industries Inc), Lease Agreement (Rentx Industries Inc)

AutoNDA by SimpleDocs

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant shall maintain "all risk" property insurance in the amount of the full replacement value of the Building with reasonable adjustments for inflation from such companies and on such terms and conditions as Landlord from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings and other property of Tenant within the Premises, including the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property"). B. In the event that the Premises is damaged by fire or other insured casualty, Tenant shall deliver the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and the damage shall be repaired by and at the expense of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opinion, be made within 120 days after the occurrence of such damage, and any excess proceeds shall be returned to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates that it will be unable to repair and restore the Premises within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day period, then either party, by written notice to the other, may cancel this Lease as of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such repair and restoration work.such C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. Landlord and Tenant each agree that all policies of insurance obtained by them pursuant to the provisions of this Lease shall contain endorsements oror provisions waiving the insurer's rights of subrogation with respect to claims against the other, and each shall notify its insurance companies of the existence of the waiver and indemnity provisions set forth in this Lease.

Appears in 3 contracts

Samples: Lease Agreement (Rentx Industries Inc), Lease Agreement (Rentx Industries Inc), Lease Agreement (Rentx Industries Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant Landlord shall maintain "all risk" property casualty insurance on the shell and core of the Building, on the Premises to the extent of the base tenant finish per the then-current standard allowance provided by Landlord to tenants in the amount of the full replacement value of Building therein and in the Building with reasonable adjustments for inflation Complex, in such amounts, from such companies companies, and on such terms and conditions conditions, including loss of rental insurance for such period of time as Landlord deems appropriate, from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings and other property of Tenant within the Premises, including the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")time. B. In the event that If the Premises is or the Building shall be so damaged by fire or other insured casualty, Tenant shall deliver casualty as to render the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property Premises wholly untenantable and the amount of any deductible paid by Tenant, to Landlord, and the if such damage shall be repaired by and at the expense of Landlord, regardless of the extent of available insurance proceeds, provided so great that such repairs and restoration cana competent architect, in Landlord's good standing, selected by Landlord shall certify in writing to Landlord and Tenant within sixty (60) days of said casualty that the Premises, with the exercise of reasonable opiniondiligence, cannot be made fit for occupancy within 120 one hundred eighty (180) working days after from the occurrence of such damagehappening thereof, then this Lease shall cease and any excess proceeds shall be returned to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated terminate from the date of the casualty in proportion occurrence of such damage and Tenant shall thereupon surrender to Landlord the part Premises and all interest therein hereunder and Landlord may reenter and take possession of the Premises which is unusable by and remove Tenant in therefrom. Tenant shall pay rent, duly apportioned, up to the conduct time of its businesssuch termination of this Lease. Landlord agrees to notify Tenant If, however, the damage shall be such that said architect shall certify within 30 days after such casualty if it estimates said sixty (60) day period that it will be unable to repair and restore the Premises can be made tenantable within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-one hundred eighty (180) day period, then either partythen, by written notice except as hereinafter provided, Landlord shall repair the damage so done (to the other, may cancel this Lease as extent of the date base tenant finish per the then-current standard allowance provided by Landlord to tenants in the Building) with all reasonable speed. C. If the Premises shall be slightly damaged by fire or other casualty, but not so as to render the same wholly untenantable or to require a repair period in excess of one hundred eighty (180) days, then, Landlord, after receiving notice in writing of the occurrence of such damagethe casualty, provided that such notice is given except as hereafter provided, shall cause the same to be repaired to the other party extent of the base tenant finish per the then-current standard allowance provided by Landlord to tenants in the Building with reasonable promptness. If the estimated repair period as established in accordance with the provisions of subparagraph B above exceeds one hundred eighty (180) days, then the provisions of subparagraph B shall control notwithstanding the fact that the Premises are not wholly untenantable. D. In case the Building throughout shall be so injured or damaged, whether by fire or otherwise (though said Premises may not be affected, or if affected, can be repaired within 15 said one hundred eighty (180) days), that, within sixty (60) days after Landlord notifies Tenant of the estimated time for completion happening of such repairs and restoration. If no injury, Landlord shall decide not to reconstruct or rebuild said Building, then, notwithstanding anything contained herein to the contrary, upon notice is in writing to that effect given by either party Landlord to terminate this LeaseTenant within said sixty (60) days, Tenant shall pay the rent, properly apportioned up to such date, this Lease shall continue in effect and terminate from the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord date of delivery of said written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement, Landlord both parties hereto shall deliver be freed and discharged of all insurance proceeds to Tenant, who will commence and complete such repair and restoration workfurther obligations hereunder. C. Landlord X. Xxxxxxxx and Tenant hereby waive any and all rights of recovery against one another and the other, their officers, agents agents, and employees occurring out of the use and occupancy of the Premises for loss or damage to their respective real or and/or personal property occurring arising as a result of the use a casualty or occupancy condemnation contemplated by this Paragraph 17. Each of the Premises parties shall, upon obtaining the policies of insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and shall require such carrier to include an appropriate waiver of subrogation provision in the policies. F. Provided that the casualty is not the fault of Tenant, Xxxxxx's agents, servants, or employees, Xxxxxx's rent shall xxxxx during any such period of repair and restoration, but only to the extent of any recovery by Landlord under its rental insurance coverage. Landlord and Tenant each agree that all policies of insurance obtained by them pursuant related to the provisions Premises in the same proportion that the part of this Lease shall contain endorsements orthe Premises rendered untenantable bears to the whole.

Appears in 2 contracts

Samples: Lease (Daily Journal Corp), Lease Agreement (Firstworld Communications Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property casualty insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments for inflation and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 18.2 Tenant shall maintain throughout the Term "all risk" property insurance, in the amount of or "multi-peril" insurance for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and Premises wholly untenantable or the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120such 180-day period. Such notice will set forth period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Initial Tenant Finish. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant each agree waive all rights of recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex, or for loss of business arising out of or related the use and occupancy of the Premises which is capable of being insured against under all risk or multi-peril insurance, including coverage for damage due to water leakage. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that all policies the foregoing waiver is contained in this Lease and use reasonable efforts to obtain an appropriate waiver of insurance obtained by them pursuant subrogation provision in the policies. 18.7 Rent shall xxxxx during any period of repair and restoration to the provisions extent of this Lease shall contain endorsements orany recovery by Landlord under its loss of rent insurance related to the Premises in the same proportion that the part of the Premises rendered untenantable bears to the whole.

Appears in 2 contracts

Samples: Office Lease (Telecom Wireless Corp/Co), Office Lease (Telecom Wireless Corp/Co)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value core and shell of the Building with reasonable adjustments for inflation in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 18.2 Tenant shall maintain "throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as “all risk" property insurance, in the amount of ”) for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings ’s property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and Premises wholly untenantable or the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within sixty (60) days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 one hundred eighty (180) days after from the happening thereof, then, at the option of Tenant exercised in writing within thirty (30) days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest in this Lease. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120-such one hundred eighty (180) day period. Such notice will set forth period or Tenant does not elect to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render them wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatementone hundred eighty (180) days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coveragethe initial Landlord’s Work and Tenant’s Finish Work. If the Building is damaged by fire or other casualty at any time which is during the twelve (12) months prior to the Expiration Date and Tenant has not exercised its option to extend the Term of this Lease pursuant to Section 40 within fifteen (15) business days following receipt of notice from Landlord’s architect that the Premises are wholly untenantable or that the damages are so extensive that they will require a repair period in excess of one hundred eighty (180) days, then, within fifteen (15) business days after the expiration of such 15-business day period, either party may terminate this Lease as a result of the occurrence of such damage by giving written notice to the other; provided, however, in the event that such casualty does not render the Premises wholly untenantable, Landlord shall neither have the right to terminate this Lease nor the obligation to restore the Premises, and Tenant, at its option, shall be entitled to continue to use and occupy the Premises for the remainder of the term notwithstanding such casualty or damage, and Rent shall xxxxx following the occurrence of such casualty or damage in the same proportion that the part of the Premises rendered untenantable or unusable for the uses permitted hereunder, bears to the whole Premises. In the event of termination by either party pursuant to this Section 18.4, Tenant shall pay Rent duly apportioned up to the date of such casualty and forthwith surrender the Premises and all interest therein. If Tenant fails to do so, Landlord may reenter and take possession of the Premises and remove Tenant. 18.5 Landlord and Tenant each agree waive all rights of recovery against the other and its respective officers, partners, members, managers, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is required to be insured by such party hereunder. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that all policies the foregoing waiver is contained in this Lease and shall use reasonable efforts to obtain an appropriate waiver of insurance obtained by them pursuant subrogation provision in the policies. 18.6 Rent shall xxxxx following any event of casualty or damage described in this Section 18, in the same proportion that the part of the Premises rendered untenantable or unusable for the uses permitted hereunder, bears to the provisions whole Premises. 18.7 If (a) the Premises are materially damaged by fire or other casualty during the last eighteen (18) months of the Term and Tenant has not exercised its Term extension rights under this Lease, or (b) the Premises are materially damaged by fire or other casualty and not restored (including restoration of the Landlord’s Work and Tenant’s Finish Work) within one hundred eighty (180) days after the date of such fire or other casualty or such additional period of time for delays beyond the reasonable control of Landlord but in no event beyond two hundred forty (240) days, then Tenant shall have the right, exercisable by notice delivered within thirty (30) days after the date of such fire or other casualty (with respect to clause (a) above) or at any time after expiration of such one hundred eighty (180) day or two hundred forty (240) day period, as applicable, while failure to restore the Premises and the Landlord’s Work and Tenant’s Finish Work persists (with respect to clause (b) above), to terminate this Lease, effective as of the date of delivery of such notice. 18.8 The Landlord shall indemnify and save harmless Tenant, and the directors, officers, agents, and employees of Tenant, against and from all claims, expenses, or liabilities of whatever nature (a) arising directly or indirectly from any default or breach by Landlord or Landlord’s contractors, licensees, agents, servants, or employees under any of the terms or covenants of this Lease shall contain endorsements oror failure of Landlord or such persons to comply with any rule, order, regulation, or lawful direction now or hereafter in force of any public authority, in each case to the extent the same related, directly or indirectly to the management operation or repair of the Building and/or the use of the Common Areas; or (b) arising directly or indirectly from any accident, injury, or damage, however caused, to any person or property, on the Common Area as a result of the gross negligence or willful misconduct of Landlord, or Landlord’s contractors, agents, servants or employees;

Appears in 1 contract

Samples: Lease

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 17.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments for inflation and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 17.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance, in the amount of ") for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 17.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and Premises wholly untenantable or the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120such 180-day period. Such notice will set forth period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 17.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Initial Tenant Finish. 17.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord and decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant each agree that all policies of insurance obtained by them pursuant shall pay the Rent apportioned to the provisions of such date, this Lease shall contain endorsements orterminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided.

Appears in 1 contract

Samples: Office Lease (Kroll Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments for inflation and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 18.2 Tenant shall maintain "throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as “all risk" property insurance, in the amount of ”) for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings ’s property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and Premises wholly untenantable or the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within sixty (60) days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 one hundred eighty (180) days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within thirty (30) days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest in this Lease. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120-such one hundred eighty (180) day period. Such notice will set forth period or neither Landlord nor Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render them wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatementone hundred eighty (180) days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the initial Tenant finish. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within one hundred eighty [180] days) and within sixty (60) days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said sixty (60) days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties shall be discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant each agree that waive all policies rights of insurance obtained recovery against the other and its respective officers, partners, members, managers, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is required to be insured by them such party hereunder. Tenant also waives all such rights of recovery against Building Manager. Further, in the event of any sublease of the Premises pursuant to Section 14 above, the provisions Transferee and Landlord shall be deemed to have waived all such rights of recovery described above as fully as if the Transferee were the Tenant first executing this Lease. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and shall use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies. 18.7 Rent shall xxxxx following any event of casualty or damage described in this Section 18, in the same proportion that the part of the Premises rendered untenantable or unusable for the uses permitted hereunder, bears to the whole Premises. 18.8 If the Premises are materially damaged by fire or other casualty and not restored (including restoration of the Landlord Work) within sixty (60) days after the date of such fire or other casualty, then Tenant shall have the right, exercisable by notice to Landlord delivered at any time after expiration of such 60-day period while failure to restore the Premises and the Landlord Work persists, to terminate this Lease, effective as of the date of delivery of such notice. 18.9 The Landlord shall indemnify and save harmless Tenant, and the directors, officers, agents, and employees of Tenant, against and from all claims, expenses, or liabilities of whatever nature (a) arising directly or indirectly from any default or breach by Landlord or Landlord’s contractors, licensees, agents, servants, or employees under any of the terms or covenants of this Lease or failure of Landlord or such persons to comply with any rule, order, regulation, or lawful direction now or hereafter in force of any public authority, in each case to the extent the same related, directly or indirectly to the management operation or repair of the Building and/or the use of the Common Areas; or (b) arising directly or indirectly from any accident, injury, or damage, however caused, to any person or property, on the Common Area as a result of the gross negligence or willful misconduct of Landlord, or Landlord’s contractors, agents, servants or employees; or (c) arising directly or indirectly from any accident, injury, or damage to any person or property occurring outside the Premises but within the Building or on the Building Complex, to the extent such accident, injury, or damage results from any act or omission of gross negligence or willful misconduct on the part of Landlord, or Landlord’s contractors, agents, servants, employees, or anyone claiming by or through Landlord; provided, however, that in no event shall contain endorsements orLandlord be obligated under this Section 18 to indemnify or save harmless Tenant, or the directors, officers, agents, employees of Tenant, to the extent such claim, expense, or liability results from any omission, fault, negligence, or other misconduct of Tenant or the contractors, licensees, agents, servants, employees or invitees of Tenant. This indemnity and hold harmless agreement shall include, without limitation, indemnity against all expenses, attorney’s fees and liabilities incurred in connection with any such claim or proceeding brought thereon and the defense thereof with counsel reasonably acceptable to Tenant. At the request of Tenant, Landlord shall defend any such claim or proceeding directly on behalf and for the benefit of Tenant.

Appears in 1 contract

Samples: Lease (Constant Contact, Inc.)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant Landlord shall maintain "all risk" property casualty insurance in on the amount shell and core of the full replacement value of the Building with reasonable adjustments for inflation from such companies and on such terms and conditions as Landlord from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings and other property of Tenant within the Premises, including the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property"). B. In the event that the Premises is damaged by fire or other insured casualty, Tenant shall deliver the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and the damage shall be repaired by and at the expense of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opinion, be made within 120 days after the occurrence of such damage, and any excess proceeds shall be returned to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates that it will be unable to repair and restore the Premises within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day period, then either party, by written notice to the other, may cancel this Lease as of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of on the Premises to the extent of the base tenant finish per the then-current standard allowance provided by Landlord to tenants in the Building therein and in the Building Complex, in such amounts, from such companies, and on such terms and conditions, including loss of rental insurance coverage. for such period of time as Landlord deems appropriate, from time to time. B. If the Premises or the Building shall be so damaged by fire or other casualty as to render the Premises wholly untenantable and if such damage shall be so great that a competent architect, in good standing, selected by Landlord shall certify in writing to Landlord and Tenant each agree within sixty (60) days of said casualty that the Premises, with the exercise of reasonable diligence, cannot be made fit for occupancy within one hundred eighty (180) working days from the happening thereof, then this Lease shall cease and terminate from the date of the occurrence of such damage and Tenant shall thereupon surrender to Landlord the Premises and all policies interest therein hereunder and Landlord may reenter and take possession of insurance obtained the Premises and remove Tenant therefrom. Tenant shall pay rent, duly apportioned, up to the time of such termination of this Lease. If, however, the damage shall be such that said architect shall certify within said sixty (60) day period that the Premises can be made tenantable within said one hundred eighty (180) day period, then, except as hereinafter provided, Landlord shall repair the damage so done (to the extent of the base tenant finish per the then-current standard allowance provided by them pursuant Landlord to tenants in the Building) with all reasonable speed. C. If the Premises shall be slightly damaged by fire or other casualty, but not so as to render the same wholly untenantable or to require a repair period in excess of one hundred eighty (180) days, then, Landlord, after receiving notice in writing of the occurrence of the casualty, except as hereafter provided, shall cause the same to be repaired to the extent of the base tenant finish per the then-current standard allowance provided by Landlord to tenants in the Building with reasonable promptness. If the estimated repair period as established in accordance with the provisions of subparagraph B above exceeds one hundred eighty (180) days, then the provisions of subparagraph B shall control notwithstanding the fact that the Premises are not wholly untenantable. D. In case the Building throughout shall be so injured or damaged, whether by fire or otherwise (though said Premises may not be affected, or if affected, can be repaired within said one hundred eighty (180) days), that, within sixty (60) days after the happening of such injury, Landlord shall decide not to reconstruct or rebuild said Building, then, notwithstanding anything contained herein to the contrary, upon notice in writing to that effect given by Landlord to Tenant within said sixty (60) days, Tenant shall pay the rent, properly apportioned up to such date, this Lease shall contain endorsements orterminate from the date

Appears in 1 contract

Samples: Lease (Exactis Com Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value core and shell of the Building with reasonable adjustments for inflation in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 18.2 Tenant shall maintain "throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as “all risk" property insurance, in the amount of ”) for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings ’s property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and Premises wholly untenantable or the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within sixty (60) days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 one hundred eighty (180) days after from the happening thereof, then, at the option of Tenant exercised in writing within thirty (30) days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest in this Lease. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120-such one hundred eighty (180) day period. Such notice will set forth period or Tenant does not elect to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render them wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatementone hundred eighty (180) days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coveragethe initial Landlord’s Work and Tenant’s Finish Work. If the Building is damaged by fire or other casualty at any time which is during the twelve (12) months prior to the Expiration Date and Tenant has not exercised its option to extend the Term of this Lease pursuant to Section 40 within fifteen (15) business days following receipt of notice from Landlord’s architect that the Premises are wholly untenantable or that the damages are so extensive that they will require a repair period in excess of one hundred eighty (180) days, then, within fifteen (15) business days after the expiration of such 15-business day period, either party may terminate this Lease as a result of the occurrence of such damage by giving written notice to the other; provided, however, in the event that such casualty does not render the Premises wholly untenantable, Landlord shall neither have the right to terminate this Lease nor the obligation to restore the Premises, and Tenant, at its option, shall be entitled to continue to use and occupy the Premises for the remainder of the term notwithstanding such casualty or damage, and Rent shall xxxxx following the occurrence of such casualty or damage in the same proportion that the part of the Premises rendered untenantable or unusable for the uses permitted hereunder, bears to the whole Premises. In the event of termination by either party pursuant to this Section 18.4, Tenant shall pay Rent duly apportioned up to the date of such casualty and forthwith surrender the Premises and all interest therein. If Tenant fails to do so, Landlord may reenter and take possession of the Premises and remove Tenant. 18.5 Landlord and Tenant each agree waive all rights of recovery against the other and its respective officers, partners, members, managers, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is required to be insured by such party hereunder. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that all policies the foregoing waiver is contained in this Lease and shall use reasonable efforts to obtain an appropriate waiver of insurance obtained by them pursuant subrogation provision in the policies. 18.6 Rent shall xxxxx following any event of casualty or damage described in this Section 18, in the same proportion that the part of the Premises rendered untenantable or unusable for the uses permitted hereunder, bears to the provisions whole Premises. 18.7 If (a) the Premises are materially damaged by fire or other casualty during the last eighteen (18) months of the Term and Tenant has not exercised its Term extension rights under this Lease, or (b) the Premises are materially damaged by fire or other casualty and not restored (including restoration of the Landlord’s Work and Tenant’s Finish Work) within one hundred eighty (180) days after the date of such fire or other casualty or such additional period of time for delays beyond the reasonable control of Landlord but in no event beyond two hundred forty (240) days, then Tenant shall have the right, exercisable by notice delivered within thirty (30) days after the date of such fire or other casualty (with respect to clause (a) above) or at any time after expiration of such one hundred eighty (180) day or two hundred forty (240) day period, as applicable, while failure to restore the Premises and the Landlord’s Work and Tenant’s Finish Work persists (with respect to clause (b) above), to terminate this Lease, effective as of the date of delivery of such notice. 18.8 The Landlord shall indemnify and save harmless Tenant, and the directors, officers, agents, and employees of Tenant, against and from all claims, expenses, or liabilities of whatever nature (a) arising directly or indirectly from any default or breach by Landlord or Landlord’s contractors, licensees, agents, servants, or employees under any of the terms or covenants of this Lease or failure of Landlord or such persons to comply with any rule, order, regulation, or lawful direction now or hereafter in force of any public authority, in each case to the extent the same related, directly or indirectly to the management operation or repair of the Building and/or the use of the Common Areas; or (b) arising directly or indirectly from any accident, injury, or damage, however caused, to any person or property, on the Common Area as a result of the gross negligence or willful misconduct of Landlord, or Landlord’s contractors, agents, servants or employees; or (c) arising directly or indirectly from any accident, injury, or damage to any person or property occurring outside the Premises but within the Building or on the Building Complex, to the extent such accident, injury, or damage results from any act or omission of gross negligence or willful misconduct on the part of Landlord, or Landlord’s contractors, agents, servants, employees, or anyone claiming by or through Landlord; provided, however, that in no event shall contain endorsements orLandlord be obligated under this Section 18 to indemnify or save harmless Tenant, or the directors, officers, agents, employees of Tenant, to the extent such claim, expense, or liability results from any omission, fault, negligence, or other misconduct of Tenant or the contractors, licensees, agents, servants, employees or invitees of Tenant. This indemnity and hold harmless agreement shall include, without limitation, indemnity against all expenses, attorney’s fees and liabilities incurred in connection with any such claim or proceeding brought thereon and the defense thereof with counsel reasonably acceptable to Tenant. At the request of Tenant, Landlord shall defend any such claim or proceeding directly on behalf and for the benefit of Tenant.

Appears in 1 contract

Samples: Lease (Constant Contact, Inc.)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments for inflation and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 18.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance, in the amount of ") for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, Premises wholly untenantable and the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120such 180-day period. Such notice will set forth period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Initial Tenant Finish. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to the later of the date of such casualty or the date that Tenant ceases to use the Premises, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant each agree that waive all policies rights of insurance obtained by them pursuant recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex, including any loss or damage which is capable of being insured against under ISO Special Form Coverage, or for loss of business revenue or extra expense arising out of or related to the provisions use and occupancy of the Premises. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies. 18.7 Rent shall contain endorsements orxxxxx from the later of the date of such casualty or the date that Tenant ceases to use the Premises and continuing until substantial completion of repair and restoration to the extent of the Initial Tenant Finish permitting occupancy by Tenant, in the same proportion that the part of the Premises rendered untenantable bears to the whole; provided, however, if the casualty is the fault of Tenant or Tenant's Agents, then the Rent will xxxxx during any such period of repair and restoration but only to the extent of any recovery by Landlord under its rental insurance related to the Premises.

Appears in 1 contract

Samples: Office Lease (Onepoint Communications Corp /De)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant shall maintain "all risk" property insurance in the amount of the full replacement value of the Building with reasonable adjustments for inflation from such companies and on such terms and conditions as Landlord from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings and other property of Tenant within the Premises, including the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property"). B. In the event that the Premises is damaged by fire or other insured casualty, Tenant shall deliver the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and the damage shall be repaired by and at the expense of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opinion, be made within 120 days after the occurrence of such damage, and any excess proceeds shall be returned to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates that it will be unable to repair and restore the Premises within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day period, then either party, by written notice to the other, may cancel this Lease as of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such repair and restoration work.within C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. Landlord and Tenant each agree that all policies of insurance obtained by them pursuant to the provisions of this Lease shall contain endorsements oror provisions waiving the insurer's rights of subrogation with respect to claims against the other, and each shall notify its insurance companies of the existence of the waiver and indemnity provisions set forth in this Lease.

Appears in 1 contract

Samples: Lease Agreement (Rentx Industries Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant Landlord shall maintain "all risk" property full replacement cost casualty insurance on the shell and core of the Building, on the Premises to the extent of the base tenant finish per the then-current standard allowance provided by Landlord to tenants in the amount of the full replacement value of Building therein and in the Building with reasonable adjustments for inflation Complex, in such amounts, from such companies companies, and on such terms and conditions conditions, including loss of rental insurance for such period of time as Landlord deems appropriate, from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings and other property of Tenant within the Premises, including the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")time. B. In the event that If the Premises is or the Building shall be so damaged by fire or other insured casualtycasualty as to either (a) render the Premises wholly untenantable for more than sixty (60) days, Tenant shall deliver (b) prohibit or restrict access to the insurance proceeds received Premises for more than sixty (60) days, or (c) render the Building, excluding the amounts received for Tenant's Property Premises partially untenantable and the amount of any deductible paid by Tenant, to Landlord, and the if such damage shall be repaired by and at the expense of Landlord, regardless of the extent of available insurance proceeds, provided so great that such repairs and restoration cana competent architect, in Landlord's good standing, reasonably selected by Landlord shall certify in writing to Landlord and Tenant within sixty (60) days of said casualty that the Premises, with the exercise of reasonable opiniondiligence, cannot be made fit for occupancy for the purposes used immediately prior to such casualty within 120 one hundred eighty (180) days after from the occurrence of such damagehappening thereof, then this Lease shall cease and any excess proceeds shall be returned to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated terminate from the date of the occurrence of such damage or casualty in proportion and Tenant shall thereupon surrender to Landlord the part Premises and all interest therein hereunder and Landlord may reenter and take possession of the Premises which is unusable by and remove Tenant in the conduct of its businesstherefrom. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates that it will be unable to repair and restore the Premises within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day periodshall pay rent, then either partyduly apportioned, by written notice up to the other, may cancel time of such termination of this Lease as of (i.e., the date of occurrence of such casualty or damage, provided that such notice is given ). C. If the Premises or the Building shall be so damaged by fire or other casualty as to either (a) render the Premises wholly or partially untenantable for sixty (60) days or less or (b) prohibit or restrict access to the other party Premises for sixty (60) days or less, and a competent architect, in good standing, reasonably selected by Landlord shall certify in writing to Landlord and Tenant within 15 days after Landlord notifies Tenant of on or prior to the estimated time for completion expiration of such repairs and restoration. If no notice is given by either party (60) day period that the Premises, with the exercise of reasonable diligence, may be made fit for occupancy for the purposes used immediately prior to terminate this Leasesuch casualty within one hundred eighty (180) days from the happening thereof, then this Lease shall continue not terminate as set forth in effect subsection B above, and Landlord shall, at its sole cost and expense, use commercially reasonable efforts to repair the Rent shall be apportioned damage so done (to the extent of the base tenant finish per the then-current standard allowance provided by Landlord to tenants in the manner provided aboveBuilding) on or prior to the expiration of such one hundred eighty (180) day period. If Landlord agrees that if Landlord exercises shall not cause such repair to be substantially completed by the foregoing termination optionexpiration of such one hundred eighty (180) day period, then Tenant shall have the right to reinstate the terminate this Lease by giving Landlord upon thirty (30) days' written notice to Landlord, provided, however, if Landlord then causes such repair to be substantially completed on or prior to the expiration of such reinstatement within 15 days after receipt of Landlordthirty (30) day period, Tenant shall be deemed to have withdrawn Tenant's termination notice. Such repair shall be deemed to be substantially completed when Landlord shall (i) have completed the repairs to the standard aforesaid (other than so-called "punch list" items to be completed promptly thereafter), (ii) Landlord shall have furnished Tenant with a certificate of the architect certifying to the reasonable satisfaction of Tenant that substantial completion as described above has occurred, (iii) Landlord shall have furnished to Tenant a temporary or permanent certificate of occupancy for the Premises and/or the Building, and upon such reinstatement, Landlord (d) Tenant shall deliver all insurance proceeds have full access to Tenant, who will the Premises to commence and complete such perform Tenant's repair and restoration workreplacement work therein. C. D. Landlord and Tenant hereby waive any and all rights of recovery against one another and the other, their officers, agents agents, and employees occurring out of the use and occupancy of the Premises for loss or damage to their respective real or and/or personal property occurring arising as a result of the use a casualty or occupancy condemnation contemplated by this Section 17. Each of the Premises to parties shall, upon obtaining the extent of insurance coverage. Landlord and Tenant each agree that all policies of insurance obtained required by them pursuant to this Lease, notify the provisions of insurance carrier that the foregoing waiver is contained in this Lease and shall contain endorsements orrequire such carrier to include an appropriate waiver of subrogation provision in the policies. E. The Rent shall abate during any period of repair and restoration, but only to xxx xxtent of rental abatement insurance proceeds received by Landlord.

Appears in 1 contract

Samples: Lease (Infocrossing Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments for inflation and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time time, consistent with amounts and coverages retained by reasonably deems appropriateprudent landlords in office buildings of similar size and quality in the southeast suburban Denver metropolitan area. Landlord acknowledges that as of the Commencement Date Landlord is retaining all risk property insurance in amounts not less than 90% of the replacement cost value, and which coverage is subject to change in the future. 18.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance, in the amount of ") for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish Work. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received Premises wholly unusable for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and normal office operations or the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for Tenant's normal office operations within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made usable for Tenant's normal office operations within said 120such 180-day period. Such notice will set forth period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly unusable for Tenant's normal office operations or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Finish Work. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant each agree that waive all policies rights of insurance obtained by them pursuant recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is capable of being insured against under ISO Special Form Coverage, or for loss of business revenue or extra expense arising out of or related to the provisions use and occupancy of the Premises. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies. 18.7 Rent shall contain endorsements orabatx xxxing any period of repair and restoration in the same proportion that the part of the Premises rendered unusable for Tenant's normal office operations bears to the whole; provided, however, if the casualty is the fault of Tenant or Tenant's Agents, then the Rent will abatx xxxing any such period of repair and restoration but only to the extent of any recovery by Landlord under its rental insurance related to the Premises.

Appears in 1 contract

Samples: Lease Agreement (Verio Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments for inflation and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 18.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance, in the amount of ") for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and Premises wholly untenantable or the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120such 180-day period. Such notice will set forth period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Initial Tenant Finish. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant each agree that waive all policies rights of insurance obtained by them pursuant recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is capable of being insured against under ISO Special Form Coverage, or for loss of business revenue or extra expense arising out of or related to the provisions use and occupancy of the Premises. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies. 18.7 Rent shall contain endorsements orabate during any period of repair and restoration to the extent of xxx xecovery by Landlord under its loss of rent insurance related to the Premises in the same proportion that the part of the Premises rendered untenantable bears to the whole.

Appears in 1 contract

Samples: Office Lease (Kroll Inc)

AutoNDA by SimpleDocs

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount Building Complex, the shell and core of the Building and the Premises in an amount equal to the actual full replacement value of the Building with reasonable adjustments for inflation Complex (exclusive of costs of excavations, foundations, underground utilities and footings), from such companies companies, and on such terms and conditions as Landlord deems appropriate, in its commercially reasonable determination, and as required by Landlord’s Mortgagee from time to time reasonably deems appropriatetime, and including insurance for loss of business income (rent) for up to a period of two years to the extent available. 18.2 Tenant shall maintain "throughout the Term insurance coverage at least as broad as ISO Causes of Loss - Special Form Coverage against risks of direct physical loss or damage (commonly known as “all risk" property insurance, in the amount of ”) for the full replacement valuecost of Tenant’s property, on Tenant's trade fixtures, furniture, furnishings fixtures and other property of Tenant within betterments in the Premises, including Tenant’s Work and any other Alterations (except to the property extent that Landlord’s insurance company confirms that such Alterations are insured under Landlord’s insurance as provided in Section 18.1 above. Notwithstanding anything contained herein to be installed by the contrary, in the event Tenant pursuant wishes to Paragraph 26 below (collectivelyself-insure for all or any portion of the insurance requirements set forth in this Lease, "Landlord and Tenant agree to negotiate a commercially reasonable self-insurance provision containing such terms and conditions as are customary in the marketplace, including, without limitation, tangible net worth minimums as well as a program of self-insurance applicable to substantially all of Tenant's Property")’s properties. B. In the event that 18.3 If any portion of the Premises or the Building is damaged or destroyed by fire or other insured casualty, Tenant shall deliver the insurance proceeds received for the BuildingLandlord will cause its architects, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, engineers and/or contractors to Landlord, and the damage shall be repaired by and at the expense of Landlord, regardless prepare a written estimate in accordance with professional standards of the time that reasonably will be required to repair or restore all of such damage other than any damage to Tenant’s Work and any other Alterations (the extent of available that previously Landlord’s 19506884v9 24 insurance proceeds, provided company has confirmed that such repairs Alterations are insured under Landlord’s insurance) (the “Estimated Repair Time”). Landlord will provide Tenant with a good faith estimate, based on such architect’s, engineer’s and restoration cancontractor’s reports (with copies of such written reports from such architects, in engineers or contractors) setting forth Landlord's reasonable opinion, be made ’s determination of the Estimated Repair Time within 120 sixty (60) days after the occurrence of such damage, and any excess proceeds shall be returned to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated from the date of the casualty (the “Casualty Notice”). The Casualty Notice shall specify Landlord’s for Tenant’s review assumptions regarding the affirmative actions that Tenant must take in proportion connection with the restoration (including the repair of Tenant’s Work and Alterations) and the time periods within which Tenant must take those actions in order for Landlord to complete the restoration within the Estimated Repair Time and in addition provide an estimated time for restoration by Tenant of Tenant’s Work and any other Alterations. Landlord and Tenant shall use reasonable efforts to agree upon such estimates. If fire or other casualty renders the whole or any material part of the Premises untenantable and the Estimated Repair Time is more than one hundred eighty (180) days, then either party, by notice in writing to the other given within ninety (90) days from the date of such damage or destruction may terminate this Lease effective upon a date within thirty (30) days from the date of such notice. If fire or other casualty renders the whole or any portion of the Premises untenantable, and if the Estimated Repair Time is one hundred eighty (180) days or less, or if fire or other casualty renders the whole or any part of the Premises untenantable, the Estimated Repair Time is more than one hundred eighty (180) days and neither party hereto terminates this Lease pursuant to this Section, then, in any such case, Landlord will repair and restore the Premises (other than Tenant’s Work or any other Alterations or improvements installed by Tenant) and the Building to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and this Lease will remain in full force and effect, but the Rent will be abated pro rata (based upon the portion of the Premises which is unusable untenantable) from the date of damage until Landlord has substantially completed, and Tenant has had a reasonable period to substantially complete (which shall be at least one hundred eighty (180) days unless Landlord and Tenant reasonably agree upon a shorter period pursuant to the provisions above), their respective repair and restoration obligations under this Section. In no event will Landlord be obligated to repair or restore any Tenant Work, leasehold improvements, Special Equipment, Alterations or other improvements installed by Tenant. So long as Landlord has maintained the property insurance required by this Lease, Landlord’s obligation to rebuild and repair under this Section will in any event be limited to the extent of the insurance proceeds available to Landlord for such restoration, and Tenant agrees that promptly after completion of such work by Landlord, it will proceed with reasonable diligence and at its sole cost and expense to rebuild, repair and restore its signs, fixtures, equipment and to construct and install leasehold improvements of the same type and character as the leasehold improvements existing prior to the casualty, subject to reimbursement from the insurance proceeds to the extent of the proceeds attributable to Tenant’s Work and Alterations (if applicable). Notwithstanding the terms of the preceding sentence, Landlord’s obligation to rebuild and repair under this Section may only be limited by insurance proceeds being unavailable to Landlord and/or inadequate for such restoration if such proceeds are unavailable or inadequate, as the case may be, because (a) such insurance proceeds or portion thereof have been paid to Landlord’s lender or lenders or they refuse to make them available for restoration; and/or (b) of a change in Applicable Laws (including any accessibility statute) which were not required as of the conduct Effective Date of its businessthis Lease. In any event, Tenant shall be responsible for paying the cost of any deductible under the insurance required to be maintained by Landlord, to the extent included in Operating Expenses if and to the extent provided in Section 6 and Exhibit C. If, pursuant to the preceding sentence Landlord’s obligation to rebuild and repair under this Section is limited by insurance proceeds being unavailable to Landlord agrees and/or inadequate, and Landlord does not promptly commit to notify Tenant rebuild or repair despite such limitation, then either party, by notice in writing to the other may terminate this Lease effective upon a date within 30 days after from the date of such casualty notice. Notwithstanding anything contained herein to the contrary, if it estimates that it will be unable Landlord fails to repair and restore the Premises to substantial completion (irrespective of whether Landlord 19506884v9 25 has commenced repairs) (other than the leasehold improvements or any other Alterations or improvements installed by Tenant) and the Building in accordance with this Section within said 120-day period. Such two hundred ten (210) days (or the Estimated Repair Time if the Estimated Repair Time is greater than two hundred ten (210) days) after Landlord has provided Tenant with notice will set forth of the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day periodEstimated Repair Time (“Repair Outside Date”), then either party, Tenant may terminate this Lease by providing written notice to Landlord within 30 days after the otherRepair Outside Date but prior to the restoration and delivery of the Premises to Tenant as required above, may cancel this Lease as of which termination will be effective 30 days from the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of to Landlord's termination notice, and upon such reinstatement, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such repair and restoration work. C. . Landlord and Tenant hereby waive agree that the immediately preceding sentence shall be subject to Force Majeure. 18.4 In the event of a termination of this Lease pursuant to this Section 18.4, Rent will be apportioned on a per diem basis and paid to the date of such termination. Notwithstanding the forgoing and without limiting any other provision of this Section, in the event that this Lease is terminated pursuant to any provision of this Section, the parties acknowledge and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of agree that the use or occupancy Rent will be abated pro rata (based upon the portion of the Premises which is untenantable) from the date of damage until the date of termination. 18.5 Each party hereby expressly waives any rights each or their respective property insurers have or may have against the other on account of any loss or damage to the extent respective property of either Landlord or Tenant, as the case may be, arising from loss covered or which would generally be covered by the insurance coverage herein required or its equivalent, regardless of whether such insurance is actually carried and regardless of whether such damage is caused by negligence or malfeasance of either party hereto or their respective employees, agents or contractors, and each shall look only to each such party’s respective insurance coverage, if any, in the event of such loss. Landlord and Tenant each agree that all Each party’s property insurance policies of insurance obtained by them pursuant to the provisions of this Lease shall contain endorsements orcoverage or an endorsement containing an express waiver of any right of subrogation by the insurance company against Landlord or Tenant, whichever the case may be (whether named as an insured or not). All insurance provided by Landlord or Tenant shall endeavor to be noncancelable, except on thirty (30) days written notice.

Appears in 1 contract

Samples: Lease Agreement (Tw Telecom Inc.)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant shall maintain "all risk" property insurance in the amount of the full replacement value of the Building with reasonable adjustments for inflation from such companies and on such terms and conditions as Landlord from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings and other property of Tenant within the Premises, including the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property"). B. In the event that the Premises is damaged by fire or other insured casualty, Tenant shall deliver the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and the damage shall be repaired by and at the expense of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opinion, be made within 120 days after the occurrence of such damage, and any excess proceeds shall be returned to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates that it will be unable to repair and restore the Premises within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day period, then either party, by written notice to the other, may cancel this Lease as of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. Landlord and Tenant each agree that all policies of insurance obtained by them pursuant to the provisions of this Lease shall contain endorsements oror provisions waiving the insurer's rights of subrogation with respect to claims against the other, and each shall notify its insurance companies of the existence of the waiver and indemnity provisions set forth in this Lease.

Appears in 1 contract

Samples: Lease Agreement (Rentx Industries Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. 16.1 Tenant shall maintain obtain and keep in force, during the Term, the following policies of insurance: (1) A policy or policies of Commercial General Liability Insurance protecting Tenant and Landlord against claims for bodily injury, personal injury and property damage based upon or arising out of the ownership, use, occupancy or maintenance and repair of the Premises and all areas appurtenant thereto. Such insurance shall be on an occurrence basis providing single limit coverage in an amount not less than $1,000,000.00 per occurrence with an "all riskAdditional Insured-Managers or Lessor of Premises Endorsement" and contain "Amendment of the Pollution Exclusion Endorsement" for damage caused by heat, smoke or fumes from a hostile fire. The policy shall not contain any intra-insured exclusions as between insured persons or organizations, but shall include coverage for liability assumed under this Lease as an "insured contract" for the performance of Tenant's indemnity obligations under this Lease. The limits of said insurance shall not, however, limit the liability of Tenant nor relieve Tenant of any obligation hereunder. All insurance carried by Tenant shall be primary and not contributory with any similar insurance carried by Landlord, whose insurance shall be considered excess insurance only. (2) A policy or policies of property insurance in insuring loss or damage to the Building. The amount of such insurance shall be equal to the full replacement cost of the Premises, as the same shall exist from time to time, or the amount required by any lender of Landlord for the Building, but in no event more than the commercially reasonable and available insurable value thereof. Such policy or policies shall insure against all risks of direct loss or damage, including the perils of flood and/or earthquake, debris removal and the enforcement of any applicable laws and ordinances requiring the upgrading, demolition, reconstruction or replacement of any portion of the Building with reasonable adjustments as the result of the covered loss. Said policy or policies shall also contain an agreed upon valuation provision in lieu of any coinsurance clause, waiver of subrogation, and inflation guard protection causing an increase in the annual property insurance coverage amount by a factor of not less than the adjusted U.S. Department of Labor Consumer Price Index for inflation from All Urban Consumers for the city nearest to where the Premises are located. If such companies and on such terms and conditions as Landlord from time to time reasonably deems appropriateinsurance coverage has a deductible clause, the deductible amount shall not exceed $10,000.00 per occurrence, and Tenant shall maintain "all risk" property insurance, be liable for such deductible amount in the amount event of an insured loss. (3) A policy or policies insuring the loss of the full replacement valueRent payable under this Lease for one (1) year. Said insurance shall provide that in the event the Lease is terminated by reason of an insured loss, on Tenant's trade fixtures, furniture, furnishings and other property the period of Tenant within indemnity for such coverage shall be extended beyond the date of completion of repairs or replacements of the Premises, including to provide for one full years' loss of Rent from the property to be installed by Tenant pursuant to Paragraph 26 below (collectivelydate of any such loss. Said insurance shall contain an agreed valuation provision in lieu of any coinsurance clause, "Tenant's Property"). B. In the event that the Premises is damaged by fire or other insured casualty, Tenant shall deliver the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of coverage shall be adjusted annually to reflect the projected Rent otherwise payable by Tenant for the next 12 month period. Tenant shall be liable for any deductible paid by amount in the event or such loss. (4) A policy or policies of insurance on all of Tenant's personal property, to Landlord, trade fixtures and equipment located on the damage Premises. Such insurance shall be repaired by full replacement cost coverage with a deductible not to exceed $10,000.00 per occurrence. Tenant shall use the proceeds from any such insurance for the replacement of personal property, trade fixtures and at equipment located on the expense of Landlord, regardless of the extent of available insurance proceeds, provided Premises. Tenant shall provide Landlord with written evidence that such repairs insurance is in force. (5) A Policy or policies of insurance for loss of income and restoration can, extra expense insurance in Landlord's reasonable opinion, be made within 120 days after amounts as will reimburse Tenant for direct and indirect loss of earnings attributable to all perils commonly insured against by prudent tenants in the occurrence business of such damage, and any excess proceeds shall be returned Tenant or attributable to Tenant within five days after completion of such reconstruction or repair. Until such repairs and restoration are completed the Rent shall be abated from the date of the casualty in proportion prevention access to the part of the Premises which is unusable by Tenant in the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates that it will be unable to repair and restore the Premises within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day period, then either party, by written notice to the other, may cancel this Lease as of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy such perils. (6) All of the Premises foresaid insurance, except for the insurance required by subsection (4) and (5) above, shall insure and name the Landlord (and any designee of Landlord) and the holders of all superior mortgages, if required by such mortgages, as additional insureds as their respective interest may appear. The insurance required by subsection (2) above shall name Landlord or, at Landlord's direction, Landlord's lender, as loss payee. (7) Tenant shall pay all premiums for the foresaid insurance provided, however, that Landlord shall reimburse Tenant, on an annual basis and within thirty (30) days notice thereof by Tenant to Landlord, for Suite B's Pro Rata Share of the premiums paid by Tenant for the property insurance described in subsection (2) above. 16.2 Insurance required herein shall be by companies duly licensed or admitted to transact business in the State of California, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, as set forth in the most current issue of "Best's Insurance Guide", or such other rating as may be required by Landlord's lender for the Premises. Tenant shall not do anything that invalidates the required insurance policies. Tenant shall, prior to the extent Commencement Date, deliver to Landlord certified copies of insurance coverage. Landlord and Tenant each agree that all policies of such insurance obtained by them pursuant or certificates evidencing the existence and amounts of the required insurance. No such policy shall be cancelable or subject to modification except after 30 days prior written notice to Landlord. Tenant shall, at least 30 days prior to the provisions expiration of this Lease such policies, furnish Landlord with evidence of renewals or "insurance binders" evidencing the renewal thereof, or Landlord may order such insurance and charge the cost thereof to Tenant, which amount shall contain endorsements orbe payable by Tenant to Landlord upon written demand therefore. Such policies shall be for a term at least one year, or the length of the remaining Term, whichever is less.

Appears in 1 contract

Samples: Industrial/Commercial Lease Agreement (Directed Electronics, Inc.)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance for the Building Complex, the shell and core of the Building and the Premises in the amount such amounts, from such companies, and on such terms and conditions, sufficient to prevent Landlord from being a coinsurer under its policy of insurance, for property loss equal to the full replacement value of the Building with reasonable adjustments Complex and public liability insurance in an amount customary for inflation from such companies and on such terms and conditions as Landlord from time to time reasonably deems appropriate, and first class office properties in the Northern Virginia area. 18.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance, in the amount of ") for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, Premises wholly untenantable and the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 30 days of said casualty (or such longer period, not to exceed a total of 45 days, if Landlord is unable to obtain such certification within the expense of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in 30 day period for causes beyond Landlord's reasonable opinioncontrol) that the Premises cannot, with the exercise of reasonable diligence, be made fit for occupancy within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction casualty and forthwith surrender the Premises and all interest. If Tenant fails to do so, Landlord may reenter and take possession of the Premises and remove Tenant. If, however, the damage is such that the architect certifies that the Premises can be made tenantable within such 180-day period or repair. Until neither Landlord or Tenant elects to terminate the Lease despite the extent of damage, then the provisions below apply. 18.4 If the Premises are damaged by fire or other casualty that does not render it wholly untenantable and require a repair period in excess of 180 days, Landlord shall with reasonable promptness except as hereafter provided repair the Premises up to the level of the Initial Tenant Finish. 18.5 If the Parking Garage or portions of the Building Complex required for support or operation of the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 30 days of said casualty (or such repairs and restoration are completed longer period, not to exceed a total of 45 days, if Landlord is unable to obtain such certification within the 30 day period for causes beyond Landlord's reasonable control) Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said period, Tenant shall pay the Rent apportioned to the later of such casualty or the date that Tenant ceases to use the Premises, this Lease shall be abated terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant waive all rights of recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is capable of being insured against under ISO Special Form Coverage, or for loss of business revenue or extra expense arising out of or related to the use and occupancy of the Premises. Tenant also waives all such rights of recovery against Building Manager and Building Manager waives all rights to recovery against Tenant. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies. 18.7 Rent shall xxxxx from the later of the date of such casualty or the date that Tenant ceases to use the Premises and continuing until substantial completion during any period of repair and restoration up to the level of the Initial Tenant Finish permitting occupancy by Tenant, any recovery by Landlord under its loss of rent insurance related to the Premises in the same proportion to that the part of the Premises which rendered untenantable bears to the whole; provided, however, if the casualty is unusable by the fault of Tenant in the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates that it will be unable to repair and restore the Premises within said 120-day period. Such notice will set forth the approximate length of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day periodor Tenant's agents, then either party, by written notice to the other, may cancel this Lease as of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice will xxxxx during any such period of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises but only to the extent of any recovery by Landlord under its rental insurance coverage. Landlord and Tenant each agree that all policies of insurance obtained by them pursuant related to the provisions of this Lease shall contain endorsements orPremises.

Appears in 1 contract

Samples: Office Lease (Savvis Communications Corp)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments for inflation and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 18.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance, in the amount of ") for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, and Premises wholly untenantable or the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120such 180-day period. Such notice will set forth period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Initial Tenant Finish. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant each agree that waive all policies rights of insurance obtained by them pursuant recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is capable of being insured against under ISO Special Form Coverage, or for loss of business revenue or extra expense arising out of or related to the provisions use and occupancy of the Premises. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease shall contain endorsements orand use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies.

Appears in 1 contract

Samples: Office Lease (Factual Data Corp)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Throughout the Term of the Lease, Landlord shall maintain "all risk" standard extended coverage property insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments and the Premises in an amount equal to the replacement cost thereof (exclusive of the foundations). Throughout the Lease Term, Landlord also shall maintain (a) commercial general liability insurance covering the common areas of the Building in amounts at least as high as the greater of (i) that required of Tenant in this Lease, and (ii) that required by Landlord's lender, and (b) insurance for inflation loss of Rent. The foregoing insurance policies shall be from such companies companies, and on such terms and conditions as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. 18.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance, in the amount of ") for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 18.3 If the event that the Building or Premises is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, Premises wholly or partially untenantable and the damage shall be repaired is so extensive that an independent architect selected by Landlord certifies in writing to Landlord and at Tenant within 45 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 the time period (the "Repair Period") that is the lesser of (a) 180 working days after from the happening thereof and (b) one-fourth of the time remaining in the Term of the Lease, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120-day period. Such notice will set forth such Repair Period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatementRepair Period, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Initial Tenant Finish. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within the Repair Period) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided; provided the leases of all other similarly affected tenants in the Building are terminated and Landlord in fact does not repair or restore the damaged or destroyed portions of the Building within the six (6)-month period following the date of termination. 18.6 Landlord and Tenant each agree that waive all policies rights of insurance obtained by them pursuant recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is capable of being insured against under ISO Special Form Coverage, or for loss of business revenue or extra expense arising out of or related to the provisions use and occupancy of the Premises. Tenant also waives all such rights of recovery against Building Manager. Each party shall notify their insurance carrier that the foregoing waiver is contained in this Lease and obtain an appropriate waiver of subrogation provision in their policies. 18.7 Rent shall contain endorsements orxxxxx during any period of repair and restoration in the same proportion that the part of the Premises rendered untenantable bears to the whole; provided, however, if the casualty is caused by the willful misconduct or negligence of Tenant or Tenant's Invitees, then the Rent will xxxxx during any such period of repair and restoration but only to the extent of any recovery by Landlord under its rental insurance related to the Premises.

Appears in 1 contract

Samples: Lease Agreement (Lifeminders Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. 18.1 Landlord shall maintain property insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk") for the full replacement cost of the Building Complex (excluding tenants' personal property and equipment). 18.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance in the amount of ") for the full replacement value cost of the Building with reasonable adjustments for inflation from such companies and on such terms and conditions as Landlord from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, Premises wholly untenantable and the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120such 180-day period. Such notice will set forth period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Initial Tenant Finish. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant each agree that waive all policies rights of insurance obtained by them pursuant recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is capable of being insured against under ISO Special Form Coverage, or for loss of business revenue or extra expense arising out of or related to the provisions use and occupancy of the Premises. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies. 18.7 Rent shall contain endorsements orxxxxx during any period of repair and restoration to the extent of any recovery by Landlord under its loss of rent insurance related to the Premises in the same proportion that the part of the Premises rendered untenantable bears to the whole.

Appears in 1 contract

Samples: Office Lease (Cross Country Healthcare Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. 18.1 Tenant shall maintain "throughout the Term insurance coverage at least as broad as ISO Causes of Loss - Special Form Coverage and Equipment Breakdown Protection Coverage against risks of direct physical loss or damage (commonly known as “all risk" ” and “boiler and machinery”) for the full replacement cost of Tenant’s Property located at the Premises. 18.2 Tenant shall maintain throughout the Term a commercial general liability and if necessary a commercial umbrella policy, including protection against bodily injury, personal injury and property damage with a single limit of not less than $3,000,000.00 each occurrence. Such policy shall name Landlord, Building Manager, and Mortgagee as additional insureds, be primary to any other similar insurance of such additional insureds, and provide that it may not be cancelled or modified without at least 20 days’ prior notice to Landlord and Mortgagee. The minimum limits of such insurance do not limit the liability of Tenant hereunder. 18.3 Tenant shall purchase and maintain workers’ compensation and employer’s liability insurance as follows: Workers’ Compensation Coverage A – Statutory Coverage in an amount required by the state in which the Building Complex is located; Workers’ Compensation Coverage B – Employers Liability Coverage in the amounts of $500,000 Each Accident, $500,000 Disease, Policy Limit, and $500,000 Disease, Each Employee. 18.4 Prior to the occupancy of the Premises and prior to expiration of the then-current insurance coverage, Tenant shall furnish a certificate from the issuing insurance company or companies evidencing that insurance required under this Lease is in effect. The words “endeavor to” and “but failure to mail such notice shall impose no obligation or liability of any kind upon the company, its agents or representatives” shall be deleted from the certificate form’s cancellation provision. Any insurance required to be maintained by Tenant hereunder shall be written by companies having an A.M. Best rating of “A” or better and a financial category of X or better, and be legally qualified to issue such insurance in the amount of the full replacement value of state in which the Building with reasonable adjustments Complex is located. 18.5 Landlord shall maintain liability, property and equipment breakdown protection insurance including insurance for inflation loss of Rent for the Building Complex, and insurance for shell and core, fixtures, equipment and improvements located in the Building and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, as Landlord deems appropriate, from time to time reasonably deems appropriate, and Tenant shall maintain "all risk" property insurance, in the amount of the full replacement value, on Tenant's trade fixtures, furniture, furnishings and other property of Tenant within the Premises, including the property to be installed by Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")time. B. In 18.6 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, Premises wholly untenantable and the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 180 days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120such 180-day period. Such notice will set forth period or neither Landlord nor Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.7 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of the insurance coverage. proceeds. 18.8 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.9 Landlord and Tenant each agree that waive all policies rights of insurance obtained recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex or for loss of business revenue or extra expense which is capable of being insured against for perils covered by them pursuant ISO Causes of Loss - Special Form and Equipment Breakdown Protection Coverage and to the provisions extent of damages and coverage under workers’ compensation and employers liability insurance required under this Lease. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies. 18.10 Rent shall contain endorsements orxxxxx during any period of repair and restoration to the extent of any recovery by Landlord under its loss of rent insurance related to the Premises in the same proportion that the part of the Premises rendered untenantable bears to the whole.

Appears in 1 contract

Samples: Lease Agreement (Redwood Trust Inc)

INSURANCE, CASUALTY, AND RESTORATION OF PREMISES. A. Tenant 18.1 Landlord shall maintain "all risk" property insurance in for the amount of Building Complex, the full replacement value shell and core of the Building with reasonable adjustments for inflation and the Premises in such amounts, from such companies companies, and on such terms and conditions conditions, including insurance for loss of Rent as Landlord deems appropriate, from time to time reasonably deems appropriate, and time. Landlord's insurance coverage shall be at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk") the full replacement cost of Landlord's property with a deductible. 18.2 Tenant shall maintain throughout the Term insurance coverage at least as broad as ISO Special Form Coverage against risks of direct physical loss or damage (commonly known as "all risk" property insurance, in the amount of ") for the full replacement value, on cost of Tenant's trade fixtures, furniture, furnishings property and other property of Tenant within betterments in the Premises, including tenant finish in excess of the property to be installed by Initial Tenant pursuant to Paragraph 26 below (collectively, "Tenant's Property")Finish. B. In 18.3 If the event that the Premises Building is damaged by fire or other insured casualty, Tenant shall deliver casualty which renders the insurance proceeds received for the Building, excluding the amounts received for Tenant's Property and the amount of any deductible paid by Tenant, to Landlord, Premises wholly untenantable and the damage shall be repaired is so extensive that an architect selected by Landlord certifies in writing to Landlord and at Tenant within 60 days of said casualty that the expense Premises cannot, with the exercise of Landlord, regardless of the extent of available insurance proceeds, provided that such repairs and restoration can, in Landlord's reasonable opiniondiligence, be made fit for occupancy within 120 180 working days after from the happening thereof, then, at the option of Landlord or Tenant exercised in writing to the other within 30 days of such determination, this Lease shall terminate as of the occurrence of such damage. In the event of termination, and any excess proceeds Tenant shall be returned pay Rent duly apportioned up to Tenant within five days after completion the time of such reconstruction or repaircasualty and forthwith surrender the Premises and all interest. Until such repairs If Tenant fails to do so, Landlord may reenter and restoration are completed the Rent shall be abated from the date of the casualty in proportion to the part take possession of the Premises which and remove Tenant. If, however, the damage is unusable by Tenant in such that the conduct of its business. Landlord agrees to notify Tenant within 30 days after such casualty if it estimates architect certifies that it will be unable to repair and restore the Premises can be made tenantable within said 120such 180-day period. Such notice will set forth period or neither Landlord or Tenant elects to terminate the approximate length Lease despite the extent of time Landlord estimates will be required to complete such repairs and restoration. If Landlord estimates it cannot make such repairs and restoration within said 120-day perioddamage, then either party, the provisions below apply. 18.4 If the Premises are damaged by written notice to the other, may cancel this Lease as fire or other casualty that does not render it wholly untenantable or require a repair period in excess of the date of occurrence of such damage, provided that such notice is given to the other party within 15 days after Landlord notifies Tenant of the estimated time for completion of such repairs and restoration. If no notice is given by either party to terminate this Lease, this Lease shall continue in effect and the Rent shall be apportioned in the manner provided above. Landlord agrees that if Landlord exercises the foregoing termination option, Tenant shall have the right to reinstate the Lease by giving Landlord written notice of such reinstatement within 15 days after receipt of Landlord's termination notice, and upon such reinstatement180 days, Landlord shall deliver all insurance proceeds to Tenant, who will commence and complete such with reasonable promptness except as hereafter provided repair and restoration work. C. Landlord and Tenant hereby waive any and all rights of recovery against one another and their officers, agents and employees for damage to real or personal property occurring as a result of the use or occupancy of the Premises to the extent of insurance coverage. the Initial Tenant Finish. 18.5 If the Building is damaged (though the Premises may not be affected, or if affected, can be repaired within 180 days) and within 60 days after the damage Landlord decides not to reconstruct or rebuild the Building, then, notwithstanding anything contained herein, upon notice to that effect from Landlord within said 60 days, Tenant shall pay the Rent apportioned to such date, this Lease shall terminate from the date of such notice, and both parties discharged from further obligations except as otherwise expressly provided. 18.6 Landlord and Tenant each agree that waive all policies rights of insurance obtained by them pursuant recovery against the other and its respective officers, partners, members, agents, representatives, and employees for loss or damage to its real and personal property kept in the Building Complex which is capable of being insured against under ISO Special Form Coverage, or for loss of business revenue or extra expense arising out of or related to the provisions use and occupancy of the Premises. Tenant also waives all such rights of recovery against Building Manager. Each party shall, upon obtaining the property damage insurance required by this Lease, notify the insurance carrier that the foregoing waiver is contained in this Lease and use reasonable efforts to obtain an appropriate waiver of subrogation provision in the policies. 18.7 Rent shall contain endorsements orxxxxx during any period of repair and restoration in the same proportion that the part of the Premises rendered unusable unusable for Tenant's normal office operations bears to the whole; provided, however, if the casualty is the fault of Tenant or Tenant's Agents, then the Rent will xxxxx during any such period of repair and restoration but only to the extent or any recovery by Landlord under its rental insurance related to the Premises.

Appears in 1 contract

Samples: Lease Agreement (Digimarc Corp)

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