Common use of Landlord’s Obligation to Repair Clause in Contracts

Landlord’s Obligation to Repair. In the event that Landlord elects not to terminate this Lease as aforesaid, then this Lease shall continue in full force and effect and Landlord shall promptly repair the damage and restore the Premises, excluding Tenant’s personal property, fixtures, furniture, equipment and floor coverings, to substantially the condition thereof immediately prior to such damage. Landlord’s obligation to repair such damage and restore the Premises shall be limited to the extent of the insurance proceeds made available to Landlord and allocated for the Premises. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage.

Appears in 3 contracts

Samples: Assignment, Assumption, Amendment and Consent, Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals, Inc.), Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals Inc)

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Landlord’s Obligation to Repair. In the event that Landlord elects not to terminate this Lease as aforesaid, then this Lease shall continue in full force and effect and Landlord shall promptly repair the damage and restore the Premises, excluding Tenant’s personal property, fixtures, furniture, equipment and floor coverings, to substantially the condition thereof immediately prior to such damage. Landlord’s obligation to repair such damage and restore the Premises shall be limited to the extent of the insurance proceeds and made available to Landlord and allocated for the PremisesLandlord. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage.

Appears in 1 contract

Samples: Lease (Mfic Corp)

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