Common use of LANDLORD'S DUTY TO RESTORE Clause in Contracts

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, unless this Lease is terminated by Landlord pursuant to Paragraph 10.2 or by Tenant pursuant to Paragraph 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 2 contracts

Samples: Industrial Space Lease (Viasystems Group Inc), Industrial Space Lease (Viasystems Group Inc)

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LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Commencement Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 paragraph 11.2 or by Tenant pursuant to Paragraph 10.3paragraph 11.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to paragraph 9.2 shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 paragraphs 11.2 or 10.311.3, then all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by LandlordTenant but financed by Landlord pursuant to the Interior Improvement Agreement as such improvements existed upon completion thereof excluding any Leasehold Improvements, Trade Fixtures and/or personal property constructed or installed by Tenant in the Premises. To the extent that insurance proceeds recovered by Landlord from the Insurance carried pursuant to paragraph 9.2A exceed the amount needed by Landlord to discharge its restoration obligation pursuant to the immediately preceding sentence, Landlord shall have no obligation make such excess insurance proceeds available to restore any other Tenant for the purpose of restoring interior improvements to the Leased Premises or any of Tenant’s personal property, inventory, trade fixtures, and other improvements that were constructed by Tenant and financed by Tenant pursuant to like or similar the Interior Improvement Agreement, so that such improvements may be restored to substantially the same condition existing as existed at of the time of date such damage or destructionimprovements were initially completed.

Appears in 2 contracts

Samples: United Defense Lp, United Defense Lp

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this ParagraphArticle, unless this Lease is terminated by Landlord pursuant to Paragraph Article 10.2 or by Tenant pursuant to Paragraph Article 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried carded by Tenant which cover loss to property that is Landlord’s 's property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall immediately commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s 's personal property, inventory or trade fixtures Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant's personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 2 contracts

Samples: Acceptance Agreement (Asyst Technologies Inc /Ca/), Acceptance Agreement (Asyst Technologies Inc /Ca/)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this ParagraphArticle, unless this Lease is terminated by Landlord pursuant to Paragraph Article 10.2 or by Tenant pursuant to Paragraph Article 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant’s trade fixtures and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 2 contracts

Samples: Industrial Space Lease (Silicon Graphics International Corp), Acceptance Agreement (Rackable Systems, Inc.)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this LeaseDate, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 ¶11.2 or by Tenant pursuant to Paragraph 10.3¶11.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to ¶9.2 shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 ¶11.2 or 10.3¶11.3, then all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore as they existed as of the Commencement Date, excluding any other improvements to the Leased Premises or any of Tenant’s Alterations, Trade Fixtures and/or personal property, inventory, trade fixtures, and other improvements property constructed or installed by Tenant to like in the Premises. Tenant shall forthwith replace or similar condition as existed fully repair all Tenant’s Alterations and Trade Fixtures installed by Tenant and existing at the time of such damage or destruction, and all insurance proceeds received by Tenant from the insurance carried by it pursuant to ¶9.1A(2) shall be used for such purpose. Tenant shall forthwith replace or fully repair all Tenant’s Alterations and Trade Fixtures installed by Tenant and existing at the time of such damage or destruction, and all insurance proceeds received by Tenant from the insurance carried by it pursuant to ¶9.1A(2) shall be used for such purpose. Tenant’s obligations to repair or replace Tenant’s Alterations and Tenant’s Trade Fixtures pursuant to this Section shall be limited to the extent of the insurance proceeds actually received by Tenant and subject to Tenant’s right to terminate the Lease as set forth in Section 11.3 below. Tenant shall be entitled to retain all insurance proceeds and settlements it receives in connection with the damage or destruction of Tenant’s Trade Fixtures and any other property insurance maintained by Tenant.

Appears in 2 contracts

Samples: Lease (Neophotonics Corp), Lease (Neophotonics Corp)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, unless this Lease is terminated by Landlord pursuant to Paragraph 10.2 or by Tenant pursuant to Paragraph 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so to terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the then restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant’s personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed conditions at the time of such damage or destruction.

Appears in 2 contracts

Samples: Lease (Adeza Biomedical Corp), Lease (Adeza Biomedical Corp)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are or Project is damaged by any peril after the Effective Date of this LeaseDate, then Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises or Project unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 or by Tenant pursuant to Paragraph 10.3Section 11.2. All insurance proceeds available from the fire and property damage insurance carried by Landlord Landlord, if any, shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3Section 11.2, then all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall use reasonable good faith efforts to commence and diligently prosecute to completion complete the restoration of the Leased Premises, to the extent then allowed by Law, Premises to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s obligation to restore shall be further limited to the Leased Premises and interior improvements constructed by Landlord as they existed as of the Commencement Date, excluding any Leasehold Improvements, Trade Fixtures and/or personal property constructed or installed in the Premises. If this Lease is not terminated pursuant to Section 11.2, then Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of , at Tenant’s personal propertyexpense, inventoryshall forthwith commence and thereafter prosecute to completion the replacement and repair of all Leasehold Improvements and Trade Fixtures, trade fixturesif any, and other improvements constructed by Tenant to like or similar condition as existed existing at the time of such damage or destruction, and which were to have been surrendered to Landlord hereunder; and all insurance proceeds received by Tenant from the insurance carried by it pursuant to Section 9.1.1.3 shall be used for such purpose.

Appears in 2 contracts

Samples: Lease Agreement (Avago Technologies LTD), Lease Agreement (Avago Technologies Manufacturing (Singapore) Pte. Ltd.)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises Premises, Building 3 or the Common Area are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premisessame, as and when required by this Paragraphparagraph, unless this Lease is terminated by Landlord pursuant to Paragraph 10.2 10.3 or by Tenant pursuant to Paragraph 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant10.4. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, Building 3 or the Common Area, as the case may be, to the extent then allowed by Lawlaw, to substantially the same condition in which the Leased Premises it existed as of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other alterations, modifications or improvements made by Tenant to the Leased Premises or any of Tenant’s personal property, inventory, inventory or trade fixtures. Subject to the terms of Paragraph 10.4 below, and other upon completion of the restoration by Landlord, to the extent that Tenant actually receives insurance proceeds, Tenant shall forthwith replace or fully repair all of Tenant’s improvements constructed by Tenant to like or similar condition conditions as existed at the time of immediately prior to such damage or destruction, to the extent permitted by Laws and Restrictions; provided, however, that although Tenant must restore the entirety of its space, it shall have the right to restore the space with Class “A” office improvements costing an amount not to exceed $90 per square foot of the affected portion of the Leased Premises, subject to (a) plans and specifications approved by Landlord in its reasonable discretion, (b) compliance with all Laws and Restrictions, and (c) all required approvals of the Ground Lessor, the City of Palo Alto, and all agencies with jurisdiction.

Appears in 1 contract

Samples: By And (Kodiak Sciences Inc.)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises or Building necessary for use of, or access, to the Leased Premises are damaged by any peril Peril (as hereinafter defined) after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as Premises and when required by this Paragraph, Building unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 section 11.2 of this Lease or by Tenant pursuant to Paragraph 10.3section 11.3 of this Lease. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to section 9.3 of this Lease shall be paid to to, and become the property of of, Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all All insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to to, and become the property of of, Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then then, upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, Premises and Building to the extent then allowed by Law, to substantially the same condition in which the Leased Premises and Building existed as of the Lease Commencement Dateimmediately prior to such damage. Landlord’s obligation to restore shall be limited to the Building, Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore as they existed as of the Commencement Date, excluding any other improvements to Leasehold Improvements, Trade Fixtures and/or personal property constructed or installed by Tenant in the Leased Premises except to the extent Landlord receives the applicable insurance proceeds for such Leasehold Improvements pursuant to the previous paragraph. Tenant shall forthwith replace or any of Tenant’s personal property, inventory, trade fixtures, fully repair all Leasehold Improvements and other improvements constructed Trade Fixtures installed by Tenant to like or similar condition as existed and existing at the time of such damage or destructiondestruction to the extent Landlord is not responsible for such restoration. Notwithstanding the above, Tenant agrees to promptly using commercially reasonable efforts to do so (within 48 hours) notify Landlord in writing of any damage to the Premises resulting from fire, flood, earthquake, vandalism, or any other identifiable event of a sudden, unexpected or unusual nature (“Peril”).

Appears in 1 contract

Samples: Acceptance Agreement (Sight Sciences, Inc.)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this ParagraphArticle, unless this Lease is terminated by Landlord pursuant to Paragraph Article 10.2 or by Tenant pursuant to Paragraph Article 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, Landlord (except to the extent such property was installed at Tenant's sole cost) and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of TenantTenant provided that Tenant agrees to restore such property. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datetime just prior to such damage or destruction. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s 's personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant's personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 1 contract

Samples: Va Linux Systems Inc

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this ParagraphArticle, unless this Lease is terminated by Landlord pursuant to Paragraph Article 10.2 or by Tenant pursuant to Paragraph Article 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph Article 10.2 or 10.3, . all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, Landlord (except to the extent such property was installed at Tenant's sole cost) and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of TenantTenant provided that Tenant agrees to restore such property. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datetime just prior to such damage or destruction. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s 's personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant's personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 1 contract

Samples: Sublease (Va Software Corp)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises or the Parking Structure are damaged by any peril after the Effective Date of this LeaseCommencement Date, Landlord shall restore the Leased Premises, as and when required by this ParagraphPremises or the Parking Structure, unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 Section 11.B or by Tenant pursuant to Paragraph 10.3. Section 11.C. All insurance proceeds available from the to be disbursed pursuant to fire and property damage insurance carried described in Section 9.B shall be held by the insurer, or in an escrow account acceptable to the Landlord and Tenant, and used by Landlord shall be paid to and become for the property restoration of Landlordthe Premises or the Parking Structure, if this Lease is not so terminated. If this Lease is terminated pursuant to either Paragraph 10.2 Section 11.B or 10.3Section 11.C, then all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder Landlord free of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried any claim by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the any insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall promptly commence and diligently prosecute to completion the restoration of the Leased PremisesPremises or the Parking Structure, to the extent then allowed by Lawlaw, to substantially the same condition existing immediately prior to such damage therein, excluding any Tenant’s Alterations, Trade Fixtures and/or personal property constructed or installed by Tenant in which the Leased Premises existed as Premises. Tenant shall pay to Landlord the deductible (but not more than $50,000 per occurrence) applicable to any casualty insurance policy covering the loss within ten (10) days following delivery of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destructionwritten demand.

Appears in 1 contract

Samples: Lease (Echelon Corp)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises Improvements are damaged by -------------------------- any peril after the Effective Commencement Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 Subparagraph 14.B. or by Tenant pursuant to Paragraph 10.3. Subparagraph 14.C. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to Subparagraph 8.C. shall be paid to and become the property of Landlord and shall be used for the restoration of the Premises, unless this Lease is terminated pursuant to Subparagraphs 14.B. or 14.C. or as otherwise required by Landlord's Lender. If this Lease is terminated pursuant to either Subparagraphs 14.B. or 14.C., then all insurance proceeds available from the insurance required to be carried by Tenant which covers loss to property that is Landlord's property or would become Landlord's property on the termination of this Lease shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then Landlord shall be entitled to all such insurance proceeds and upon receipt of the such insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s 's obligation to restore shall be limited to the Leased Premises Buildings and interior improvements Tenant Improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements as they existed as of the Commencement Date and to the Leased Premises extent Landlord receives insurance proceeds, any Tenant Improvements as they existed as of the Commencement Date which were paid for by Tenant, excluding any Tenant's Property or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed Tenant Improvements paid for by Tenant to like or similar condition as existed at the time of extent Landlord does not receive insurance proceeds for such damage or destructionTenant Improvements.

Appears in 1 contract

Samples: Lease Agreement (Covad Communications Group Inc)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, unless this Lease is terminated by Landlord pursuant to Paragraph 10.2 or by Tenant pursuant to Paragraph 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If Whether or not this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of the Tenant. If this Lease is not terminated pursuant However, such payment to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be deemed to be paid in trust in order to and become replace with similar property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenantno less value. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement DateDate or to a commercially reasonable condition determined in Landlord’s discretion. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s 's personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant's personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 1 contract

Samples: Industrial Space Lease (SOS Hydration Inc.)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises Premises, the Building or the Outside Area are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premisessame, as and when required by this Paragraphparagraph, unless this Lease is terminated by Landlord pursuant to Paragraph 10.2 10.3 or by Tenant pursuant to Paragraph 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant10.4. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, the Building or the Outside Area, as the case may be, to the extent then allowed by Law, law to substantially the same condition in which the Leased Premises it existed as of the Lease Commencement Date. Landlord’s 's obligation to restore shall be limited to actual receipt of insurance proceeds and to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements made by Tenant to the Leased Premises or any of Tenant’s 's personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant's personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition conditions as existed at the time of immediately prior to such damage or destruction, subject to delays resulting from disbursement of insurance proceeds by Tenant's insurer. So long as the damage is not the result of the act or omission of Tenant and Tenant has maintained in full force and effect all policies of insurance required to be maintained by Tenant pursuant to this Lease, Tenant shall not be required to expend funds to restore its personal property, inventory, trade fixtures and other non-permanent improvements constructed by Tenant to the extent the cost of restoration exceeds the insurance proceeds paid to Tenant (plus any deductible or self-insured retention by Tenant).

Appears in 1 contract

Samples: Introbiotics Phamaceuticals Inc

LANDLORD'S DUTY TO RESTORE. If the Leased Premises Improvements are damaged by any peril after the Effective Commencement Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 Subparagraph 14.B. or by Tenant pursuant to Paragraph 10.3. Subparagraph 14.C. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to Subparagraph 8.C. shall be paid to and become the property of Landlord and shall be used for the restoration of the Premises, unless this Lease is terminated pursuant to Subparagraphs 14.B. or 14.C. or as otherwise required by Landlord's Lender. If this Lease is terminated pursuant to either Subparagraphs 14.B. or 14.C., then all insurance proceeds available from the insurance required to be carried by Tenant which covers loss to property that is Landlord's property or would become Landlord's property on the termination of this Lease shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then Landlord shall be entitled to all such insurance proceeds and upon receipt of the such insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s 's obligation to restore shall be limited to the Leased Premises Building and interior improvements Tenant Improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements as they existed as of the Commencement Date and to the Leased Premises extent Landlord receives insurance proceeds, any Tenant Improvements as they existed as of the Commencement Date which were paid for by Tenant, excluding any Tenant's Property or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed Tenant Improvements paid for by Tenant to like or similar condition as existed at the time of extent Landlord does not receive insurance proceeds for such damage or destructionTenant Improvements.

Appears in 1 contract

Samples: Lease Agreement (Auspex Systems Inc)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, unless this Lease is terminated by Landlord pursuant to Paragraph 10.2 or by Tenant pursuant to Paragraph 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the then restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s 's personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant's personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed conditions at the time of such damage or destruction.

Appears in 1 contract

Samples: Adeza Biomedical Corp

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this LeaseCommencement Date, Landlord shall diligently restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 or by Tenant pursuant to Paragraph 10.3the further provisions hereof. All insurance proceeds available from the any fire and property damage insurance on the Premises and/or the building in which the Premises are located, including the tenant improvements located in the Premises, but excluding insurance on Tenant's Property (defined below), carried by Landlord or Tenant shall be paid to and become the property of Landlord. If this Lease lease is terminated pursuant to either Paragraph 10.2 or 10.3the further provisions hereof, below, then all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s 's property or would become Landlord’s 's property on the termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, Premises to the extent then allowed by Lawlaw and only to the extent of insurance proceeds received by Landlord, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. were immediately prior to such damage; provided, however, that Landlord’s 's obligation to restore shall be limited to restoring the Leased Premises and interior improvements constructed to their condition as of the Commencement Date, excluding any alterations or additions made by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory, trade fixtures, and other improvements equipment and/or personal property (collectively "Tenant's Property") constructed or installed by Tenant to like in the Premises. Tenant shall forthwith replace or similar condition as existed at the time fully repair all of such damage or destructionTenant's Property.

Appears in 1 contract

Samples: Lease (O S I Corp)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 Section 11.2 or by Tenant pursuant to Paragraph 10.3Section 11.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 Section 11.2 or 10.311.3, then all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as were immediately prior to such damage; provided, however that Landlord shall not be required to expend more than the insurance proceeds of the Lease Commencement Dateperil received by Landlord. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore as they existed as of the Commencement Date, excluding Tenant's Work, any other improvements to the Leased Premises Leasehold Improvements, Trade Fixtures and/or personal property constructed or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed installed by Tenant in the Premises. If this Lease is not terminated pursuant to like Section 11.2 or similar condition as existed 11.3, then Tenant shall forthwith commence and thereafter prosecute to completion the replacement and completely repair all Leasehold Improvements and Trade Fixtures, if any, installed by Tenant, existing at the time of such damage or destruction, and which were to have been surrendered to Landlord hereunder; and all insurance proceeds received by Tenant from the insurance carried by it pursuant to Subsection 9.1A(3) shall be used for such purpose.

Appears in 1 contract

Samples: Standard Lease Agreement (Socket Communications Inc)

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LANDLORD'S DUTY TO RESTORE. If the Leased Premises Premises, the Tenant Improvements, or the Parking Structure are damaged by any peril after the Effective Date of this LeaseCommencement Date, Landlord shall restore the Leased Premises, as and when required by this Paragraphthe Tenant Improvements and/or the Parking Structure so damaged, unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 Section 12.B or by Tenant pursuant to Paragraph 10.3. All Section 12.C. If this Lease is not so terminated, (i) all insurance proceeds available from the to be disbursed pursuant to fire and property damage insurance carried by the Landlord pursuant to Section 9.B shall be held by the insurer, or in an escrow account acceptable to the Landlord and Tenant, and used by Landlord for the restoration of the Premises or the Parking Structure, and (ii) all insurance proceeds to be disbursed pursuant to fire and property damage insurance carried by the Tenant with respect to the Tenant Improvements and described in Section 9.A(1)(d) shall be held by the insurer, or in an escrow account acceptable to the Landlord and Tenant, and used by Landlord for the restoration of the Tenant Improvements as provided above. Subject to Section 9.A(4)(a), if this Lease is terminated pursuant to either Section 12.B or Section 12.C, then all insurance proceeds available from insurance, if any, carried by Tenant which covers loss to the Premises, the Parking Garage, or any Tenant Improvements which Tenant is required by the terms of this Lease to surrender to the Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried Landlord free of any claim by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the any insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall promptly commence and diligently prosecute to completion the restoration of the Leased damaged Premises, Tenant Improvements, and/or the Parking Structure, to the extent then allowed by Lawlaw, to substantially the same condition existing immediately prior to such damage therein, excluding any Tenant’s Alterations, Trade Fixtures and/or personal property constructed or installed by Tenant in which the Leased Premises existed as Premises. Tenant shall pay to Landlord the deductible (but not more than $50,000 per occurrence) applicable to any casualty insurance policy covering the loss within ten (10) days following delivery of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destructionwritten demand.

Appears in 1 contract

Samples: Improvement Agreement (Echelon Corp)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this ParagraphArticle, unless this Lease is terminated by Landlord pursuant to Paragraph Article 10.2 or by Tenant pursuant to Paragraph Article 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s 's property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of TenantTenant provided that Tenant agrees to restore such property. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s 's personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant's personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 1 contract

Samples: Lease (Centillium Communications Inc)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 11.2 or by Tenant pursuant to Paragraph 10.311.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to Paragraph 9.2 shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 11.2 or 10.311.3, then all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s 's property or would become Landlord’s 's property on the termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, Premises to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore as they existed as of the Commencement Date, excluding any other improvements to Leasehold Improvements, Trade Fixtures and/or personal property constructed or installed by Tenant in the Leased Premises Premises. Tenant shall forthwith replace or any of Tenant’s personal property, inventory, trade fixtures, fully repair all Leasehold Improvements and other improvements constructed Trade Fixtures installed by Tenant to like or similar condition as existed and existing at the time of such damage or destruction.

Appears in 1 contract

Samples: Healthetech Inc

LANDLORD'S DUTY TO RESTORE. If the Leased Premises Improvements are damaged by any peril after the Effective Commencement Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 14.B or by Tenant pursuant to Paragraph 10.3. 14.C. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to Paragraph 8.C shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 Paragraphs 14.B or 10.314.C, then all insurance proceeds available from the insurance required to be carried by Tenant which cover covers loss to property that is Landlord’s 's property or would become Landlord’s 's property on the termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s 's obligation to restore shall be limited to the Leased Premises Building and interior improvements Tenant Improvements constructed by Landlord. Landlord shall have no obligation to restore as they existed as of the Commencement Date and any other improvements to the Leased Premises or any of Tenant’s personal property, inventory, trade fixtures, and other improvements Tenant Improvements constructed by Tenant to like for which Landlord receives 14 15 insurance proceeds, excluding any trade fixtures and/or personal property constructed or similar condition as existed installed by Tenant in the Premises and excluding any alterations constructed or installed by Tenant for which Landlord receives no insurance proceeds. Unless this Lease is terminated, Tenant shall forthwith replace or fully repair all trade fixtures installed by Tenant and existing at the time of such damage or destruction.

Appears in 1 contract

Samples: Lease Agreement (Microcide Pharmaceuticals Inc)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises Improvements are damaged by any peril after the Effective Commencement Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 Subparagraph 14.B. or by Tenant pursuant to Paragraph 10.3. Subparagraph 14.C. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to Subparagraph 8.C. shall be paid to and become the property of Landlord and shall be used for the restoration of the Premises, unless this Lease is terminated pursuant to Subparagraphs 14.B. or 14.C. or as otherwise required by Landlord's Lender. If this Lease is terminated pursuant to either Subparagraphs 14.B. or 14.C., then all insurance proceeds available from the insurance required to be carried by Tenant which covers loss to property that is Landlord's property or would become Landlord's property on the termination of this Lease shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then Landlord shall be entitled to all such insurance proceeds and upon receipt of the such insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s 's obligation to restore shall be limited to the Leased Premises Buildings and interior improvements Tenant Improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements as they existed as of the Commencement Date and to the Leased Premises extent Landlord receives insurance proceeds, any Tenant Improvements as they existed as of the Commencement Date which were paid for by Tenant, excluding any Tenant's Property or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed Tenant Improvements paid for by Tenant to like or similar condition as existed at the time of extent Landlord does not receive insurance proceeds for such damage or destructionTenant Improvements.

Appears in 1 contract

Samples: Lease Agreement (Auspex Systems Inc)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises Premises, Building 4 or the Common Area are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premisessame, as and when required by this Paragraphparagraph, unless this Lease is terminated by Landlord pursuant to Paragraph 10.2 10.3 or by Tenant pursuant to Paragraph 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant10.4. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, Building 4 or the Common Area, as the case may be, to the extent then allowed by Lawlaw, to substantially the same condition in which the Leased Premises it existed as of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other alterations, modifications or improvements made by Tenant to the Leased Premises or any of Tenant’s personal property, inventory, inventory or trade fixtures. Subject to the terms of Paragraph 10.4 below, and other upon completion of the restoration by Landlord, to the extent that Tenant actually receives insurance proceeds, Tenant shall forthwith replace or fully repair all of Tenant’s improvements constructed by Tenant to like or similar condition conditions as existed at the time of immediately prior to such damage or destruction, to the extent permitted by Laws and Restrictions; Building 4 provided, however, that although Tenant must restore the entirety of its space, it shall have the right to restore the space with Class “A” office improvements costing an amount not to exceed $90 per square foot of the affected portion of the Leased Premises, subject to (a) plans and specifications approved by Landlord in its reasonable discretion, (b) compliance with all Laws and Restrictions, and (c) all required approvals of the Ground Lessor, the City of Palo Alto, and all agencies with jurisdiction.

Appears in 1 contract

Samples: Non Disturbance and Attornment Agreement (Kodiak Sciences Inc.)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this ParagraphArticle, unless this Lease is terminated by Landlord pursuant to Paragraph Article 10.2 or by Tenant pursuant to Paragraph Article 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph Article 10.2 or 10.3, . all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, Landlord (except to the extent such property was installed at Tenant’s sole cost) and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of TenantTenant provided that Tenant agrees to restore such property. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datetime just prior to such damage or destruction. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant’s personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 1 contract

Samples: Sublease (@Road, Inc)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this ParagraphArticle, unless this Lease is terminated by Landlord pursuant to Paragraph Article 10.2 or by Tenant pursuant to Paragraph Article 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be he paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph Article 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become the property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of TenantTenant provided that Tenant agrees to restore such property. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory or trade fixtures. Upon completion of the restoration by Landlord, Tenant shall forthwith replace or fully repair all of Tenant’s personal property, inventory, trade fixtures, fixtures and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destruction.

Appears in 1 contract

Samples: Acceptance Agreement (ArcSoft, Inc.)

LANDLORD'S DUTY TO RESTORE. If the Leased Demised Premises shall be partially damaged by fire or other casualty insured under insurance policies which Landlord maintains under this Lease (“Landlord’s Policies”), and if Landlord’s lender(s) shall permit such insurance proceeds to be so used, then, upon Landlord’s receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, promptly repair and restore the same (exclusive of Tenant’s property) substantially to the condition thereof existing immedi-ately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Landlord for such casualty. If, by reason of such occurrence: (a.) the Demised Premises is rendered wholly untenantable; (b.) the Demised Premises is damaged in whole or in part as a result of a risk which is not covered by Landlord’s Policies; (c.) Landlord’s lender(s) shall not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (d.) the Demised Premises is damaged in whole or in part during the final Lease Year of the Lease Term (including any then properly exercised extension periods); or (e.) the im-provements included in the Landlord Property are damaged (whether or not the Demised Premises is damaged) to an extent of fifty percent (50) or more of their then fair market value; Landlord may elect either to repair the damage, or to cancel this Lease by written notice of cancellation given to Tenant within sixty (60) days after the date of such casualty; and thereupon this Lease shall terminate, effective as of the date of the casualty and Tenant shall vacate and surrender the Demised Premises to Landlord within thirty (30) days after receipt of such notice. If no such notice is given by Landlord within said sixty (60) day period, then Landlord shall restore the Demised Premises, as provided above. In addition, Tenant may also terminate this Lease, by written notice to Landlord at any time between the one hundred eighty-first (181st) and one hundred ninety-fifth (195th) days after the occurrence of any such casualty, if Landlord shall fail to restore the damaged portions of the Demised Premises within one hundred eighty (180) days after such casualty. However, if Landlord is prevented by any peril cause beyond its reasonable control, from completing the restoration within said one hundred eighty (180) day period, and if Landlord shall provide Tenant with written notice of such cause for delay within thirty (30) days after the Effective Date occurrence thereof, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the period Landlord is delayed by causes beyond its reasonable control, in which to restore the damaged areas of the Demised Premises; and Tenant may not elect to terminate this Lease until said additional period has expired with Landlord having failed to complete such restoration. In such case, Tenant’s fifteen (15) day right of termination shall begin to run upon the expiration of Landlord’s additional period for restoration. Upon the termination of this Lease, Landlord Tenant’s liability for the Rent and other charges reserved hereunder shall restore cease as of the Leased Premises, as and when required by this Paragraph, unless this Lease is terminated by Landlord pursuant to Paragraph 10.2 or by Tenant pursuant to Paragraph 10.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord shall be paid to and become the property effective date of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Date. Landlord’s obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore any other improvements to the Leased Premises or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed by Tenant to like or similar condition as existed at the time of such damage or destructionLease.

Appears in 1 contract

Samples: SBS Technologies Inc

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Date of this LeaseDate, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 PARA 11.2 or by Tenant pursuant to Paragraph 10.3PARA11.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to PARA 9.2 shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 PARA 11.2 or 10.3PARA 11.3, then all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore as they existed as of the Commencement Date, excluding any other improvements to the Leased Premises Tenant's Alterations, Trade Fixtures and/or personal property constructed or any of Tenant’s personal property, inventory, trade fixtures, and other improvements constructed installed by Tenant to like in the Premises. Tenant shall forthwith replace or similar condition as existed fully repair all Tenant's Alterations and Trade Fixtures installed by Tenant and existing at the time of such damage or destruction, and all insurance proceeds received by Tenant from the insurance carried by it pursuant to PARA 9.1A(2) shall be used for such purpose. Tenant shall forthwith replace or fully repair all Tenant's Alterations and Trade Fixtures installed by Tenant and existing at the time of such damage or destruction, and all insurance proceeds received by Tenant from the insurance carried by it pursuant to PARA 9.1A(2) shall be used for such purpose. Tenant's obligations to repair or replace Tenant's Alterations and Tenant's Trade Fixtures pursuant to this Section shall be limited to the extent of the insurance proceeds actually received by Tenant and subject to Tenant's right to terminate the Lease as set forth in Section 11.3 below. Tenant shall be entitled to retain all insurance proceeds and settlements it receives in connection with the damage or destruction of Tenant's Trade Fixtures and any other property insurance maintained by Tenant.

Appears in 1 contract

Samples: Adac Laboratories

LANDLORD'S DUTY TO RESTORE. If the Leased Premises or Project are damaged by any peril after the Effective Date of this LeaseDate, subject to the terms hereof, Landlord shall restore the Leased Premises, as Premises and when required by this Paragraph, Project unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 Section 11.2 or by Tenant pursuant to Paragraph 10.3Section 11.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to Section 9.2 shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 Section 11.2 or 10.3Section 11.3, then all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s property or would become Landlord’s property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then subject to and upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased PremisesPremises and Project, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Dateand Project were immediately prior to such damage. Landlord’s obligation to restore the Premises shall be limited to the Leased Premises and interior improvements constructed by Landlord. Landlord shall have no obligation to restore (including the Tenant Improvements installed by Landlord in accordance with Exhibit B) as they existed as of the Commencement Date, excluding any other improvements to the Leased Premises or any of subsequent Tenant’s Alterations, Trade Fixtures and/or personal property, inventory, trade fixtures, and other improvements property constructed or installed by Tenant to like in the Premises. Tenant shall forthwith replace or similar condition as existed fully repair all such Tenant’s Alterations and Trade Fixtures installed by Tenant and existing at the time of such damage or destruction, and all insurance proceeds received by Tenant from the insurance carried by it pursuant to paragraph (b) of Exhibit E shall be used for such purpose. Xxxxxxxx’s obligation to restore the Premises and Project, to the extent provided hereunder, shall be limited to the available insurance proceeds received by Landlord for such purposes. The cost of such repairs by Landlord (if any) to any Tenant-Insured Work (as defined on Exhibit E) shall, to the extent not covered by the proceeds from the insurance maintained by Tenant under the Lease and made available to Landlord for such repair work, be at Tenant’s expense (including all hard and soft costs incurred by Landlord in making such repairs to the Tenant-Insured Work, which shall be paid by Tenant as Additional Rent hereunder).

Appears in 1 contract

Samples: Acceptance Agreement (IDEAYA Biosciences, Inc.)

LANDLORD'S DUTY TO RESTORE. If the Leased Premises are damaged by any peril after the Effective Commencement Date of this Lease, Landlord shall restore the Leased Premises, as and when required by this Paragraph, Premises unless this the Lease is terminated by Landlord pursuant to Paragraph 10.2 paragraph 11.2 or by Tenant pursuant to Paragraph 10.3paragraph 11.3. All insurance proceeds available from the fire and property damage insurance carried by Landlord pursuant to paragraph 9.2 shall be paid to and become the property of Landlord. If this Lease is terminated pursuant to either Paragraph 10.2 paragraphs 11.2 or 10.311.3, then all insurance proceeds available from insurance carried by Tenant which cover covers loss to property that is Landlord’s 's property or would become Landlord’s 's property on termination of this Lease shall be paid to and become the property of Landlord, and the remainder of such proceeds shall be paid to and become the property of Tenant. If this Lease is not terminated pursuant to either Paragraph 10.2 or 10.3, all insurance proceeds available from insurance carried by Tenant which cover loss to property that is Landlord’s property shall be paid to and become property of Landlord, and all proceeds available which cover loss to property which would become the property of Landlord upon the termination of this Lease shall be paid to and remain the property of Tenant. If this Lease is not so terminated, then upon receipt of the insurance proceeds (if the loss is covered by insurance) and the issuance of all necessary governmental permits, Landlord shall commence and diligently prosecute to completion the restoration of the Leased Premises, to the extent then allowed by Law, to substantially the same condition in which the Leased Premises existed as of the Lease Commencement Datewere immediately prior to such damage. Landlord’s 's obligation to restore shall be limited to the Leased Premises and interior improvements constructed by LandlordTenant but financed by Landlord pursuant to the Interior Improvement Agreement as such improvements existed upon completion thereof excluding any Leasehold Improvements, Trade Fixtures and/or personal property constructed or installed by Tenant in the Premises. To the extent that insurance proceeds recovered by Landlord from the insurance carried pursuant to paragraph 9.2A exceed the amount needed by Landlord to discharge its restoration obligation pursuant to the immediately preceding sentence, Landlord shall have no obligation make such excess insurance proceeds available to restore any other Tenant for the purpose of restoring interior improvements to the Leased Premises or any of Tenant’s personal property, inventory, trade fixtures, and other improvements that were constructed by Tenant and financed by Tenant pursuant to like or similar the Interior Improvement Agreement, so that such improvements may be restored to substantially the same condition existing as existed at of the time of date such damage or destructionimprovements were initially completed.

Appears in 1 contract

Samples: Lease (United Defense Lp)

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