Common use of Insured Damage Clause in Contracts

Insured Damage. In the event the Premises or the Building of which -------------- the Premises are a part are damaged by fire or other perils fully covered by the proceeds of fire and extended coverage insurance received by Landlord, Landlord agrees to forthwith repair the same; and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the Base Rent while such repairs are being made, such proportionate reduction to be based upon the extent to which the making of such repairs shall materially interfere with the business carried on by the Tenant in the Premises. If the damage is due to the fault or neglect of Tenant or its employees, there shall be no abatement of rent.

Appears in 1 contract

Samples: Basic Lease Information (Netsource Communications Inc)

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Insured Damage. In the event the Premises or the Building of --- -------------- which -------------- the Premises are a part are damaged by fire or other perils fully covered by the proceeds of fire and extended coverage insurance received by Landlord, Landlord agrees to forthwith repair the same; and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the Base Rent rent while such repairs are being made, such proportionate reduction to be based upon the extent to which the making of such repairs shall materially interfere with the business carried on by the Tenant in the Premises. If the damage is due to the fault or neglect of Tenant or its employees, there shall be no abatement of rent.

Appears in 1 contract

Samples: Basic Lease Information (Portal Software Inc)

Insured Damage. In the event the Premises or the Building of which -------------- the Premises are a part are damaged by fire or -------------- other perils fully covered by the proceeds of fire and extended coverage insurance received by Landlordinsurance, Landlord agrees to forthwith commence repair of the same; same to the extent of insurance proceeds available and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the Base Rent minimum monthly rent from the date of such damage and while such repairs are being mademade until such repairs are substantially completed, such proportionate reduction to be based upon the extent to which the damage and making of such repairs shall materially unreasonably interfere with the business carried on by the Tenant in the Premises. If the damage is due to the fault or neglect of Tenant or its employees, there shall be no abatement of rent.

Appears in 1 contract

Samples: Lease and Extension and Expansion Agreement (Peerless Systems Corp)

Insured Damage. In the he event the Premises or the Building of which -------------- the Premises are a part are damaged by fire or other perils fully covered by the proceeds of fire and extended coverage insurance received by Landlord, Landlord agrees to forthwith repair the same; and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the Base Rent while such repairs are being made, such proportionate reduction to be based upon the extent to which the making of such repairs shall materially interfere with the business carried on by the Tenant in the Premises. If the damage is due to the fault or neglect of Tenant or its employees, there shall be no abatement of rent.

Appears in 1 contract

Samples: Basic Lease Information (Netsource Communications Inc)

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Insured Damage. In the event the Premises or the Building of which -------------- the Premises are a part are damaged by fire or other perils fully covered by Tenant’s or Landlord’s casualty insurance, the parties agree forthwith to commence repair of the same to the extent of insurance proceeds of fire and extended coverage insurance received by Landlord, Landlord agrees to forthwith repair the same; available and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the Base Rent from the date of damage and while such repairs are being made, such proportionate reduction to be based upon the extent to which the damage and making of such repairs shall materially interfere cause undue interference with the business carried on by the Tenant in the Premises. If the damage is due to the fault or neglect of Tenant or its Tenant’s employees, there shall be no abatement of rent.

Appears in 1 contract

Samples: Lease Agreement (VCG Holding Corp)

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