Landlord’s Repair Obligation. Tenant shall give prompt notice to Landlord of any damage by fire or other casualty (a “Casualty”) to the Premises or any portion thereof. During the sixty (60)-day period following the occurrence of a Casualty (the “Notice Period”), Landlord will notify Tenant of Landlord’s estimate (the “Landlord’s Estimate”) of the period of time required to complete the restoration work. In the event that the Premises, or any part thereof, or access thereto, shall be so damaged or destroyed by fire or other insured Casualty that Tenant shall not have reasonably convenient access to the Premises or any material portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy by the Tenant for the purposes set forth in Section 7.1, and if in the judgment of the Landlord the damage or destruction may be repaired within three hundred sixty-five (365) days with available insurance proceeds, then the Landlord shall so notify the Tenant and shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, of Applicable Laws. If in the judgment of the Landlord the Premises, or means of access thereto, cannot be repaired within three hundred sixty-five (365) days after the elapse of the Notice Period with available insurance proceeds, then either party shall have the right to terminate the term of this Lease by giving written notice of such termination to the other party within the period of forty-five (45) days after the delivery of Landlord’s Estimate. If the reconstruction period estimated by Landlord is more than three hundred sixty five (365) and neither party terminates this Lease on account thereof, subject to Landlord’s receipt of sufficient insurance proceeds, Landlord shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable deliveries subject to the limitations, if any, of Applicable Laws to be the period so estimated by Landlord.
Appears in 5 contracts
Samples: Lease (Codiak BioSciences, Inc.), Non Disturbance, Attornment and Subordination Agreement (Codiak BioSciences, Inc.), Non Disturbance, Attornment and Subordination Agreement (Codiak BioSciences, Inc.)
Landlord’s Repair Obligation. Tenant shall give prompt notice to Landlord of any damage by fire or other casualty (a “Casualty”) to the Premises or any portion thereof. During the sixty thirty (60)-day 30)-day period following the occurrence of a Casualty (the “Notice Period”), Landlord will notify Tenant of Landlord’s estimate (the “Landlord’s Estimate”) of the period of time required to complete the restoration work. In the event that the Premises, or any part thereof, or access thereto, shall be so damaged or destroyed by fire or other insured Casualty that the Tenant shall not have reasonably convenient access to the Premises or any material portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy by the Tenant for the purposes set forth in Section 7.1, and if in the judgment of the Landlord the damage or destruction may be repaired within three two hundred sixty-five seventy (365270) days with available insurance proceeds, then the Landlord shall so notify the Tenant and shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, of Applicable Laws. If in the judgment of the Landlord the Premises, or means of access thereto, cannot be repaired within three two hundred sixty-five seventy (365270) days after the elapse of the Notice Period with available insurance proceeds, then either party shall have the right to terminate the term of this Lease by giving written notice of such termination to the other party within the period of thirty (30) to forty-five (45) days after the delivery occurrence of Landlord’s Estimatethe Casualty. If the reconstruction period estimated by Landlord is more than three two hundred sixty five seventy (365270) days and neither party terminates this Lease on account thereof, subject to Landlord’s receipt of sufficient insurance proceeds, Landlord shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable deliveries diligence subject to the limitationslimitations of any Laws and, if anyin such case, of Applicable Laws to the reconstruction period shall be the period so estimated by Landlord.
Appears in 3 contracts
Samples: Lease Agreement (Alzheon, Inc.), Lease Agreement (Alzheon, Inc.), Lease Agreement (Alzheon, Inc.)
Landlord’s Repair Obligation. Tenant shall give prompt notice to Landlord of any damage by fire or other casualty (a “Casualty”) to the Premises Building or any portion thereof. During the sixty thirty (60)-day 30)-day period following the occurrence of a Casualty (the “Notice Period”), Landlord will notify Tenant of Landlord’s reasonable, good faith estimate (the “Landlord’s Estimate”) of the period of time required to complete the restoration workwork with respect to such Casualty. In the event that the Premises, Building or any part thereof, thereof or material access thereto, thereto shall be so damaged or destroyed by fire or other insured Casualty that Tenant shall not have reasonably convenient access to the Premises or any material portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy by the Tenant for the purposes set forth in Section 7.1a Casualty, and if in the reasonable, good faith judgment of the Landlord the damage or destruction may restoration work with respect to such Casualty can be repaired within three hundred sixty-five (365) days completed with available insurance proceedsproceeds within two hundred forty (240) days of adjustment of the insurance claim, then the Landlord shall so notify the Tenant and shall repair such damage or destruction complete the restoration work as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, of Applicable Laws. If If, in the reasonable judgment of Landlord, the Landlord the Premises, or means of access thereto, restoration work with respect to a Casualty cannot be repaired completed with available insurance proceeds within three two hundred sixty-five forty (365240) days after the elapse adjustment of the Notice Period with available insurance proceedsclaim, then either party shall have the right to terminate the term of this Lease by giving written notice of such termination to the other party within the period of forty-five thirty (4530) days after the delivery of Landlord has provided Landlord’s EstimateEstimate to Tenant. If the reconstruction restoration period estimated by Landlord is more than three two hundred sixty five forty (365240) days and neither party terminates this Lease on account thereof, subject to Landlord’s receipt thereof in accordance with the foregoing provisions of sufficient insurance proceedsthis Section 10.1.1, Landlord shall repair complete such damage or destruction restoration work as provided in Section 10.4 hereof with reasonable deliveries diligence, subject to the limitations, if any, of Applicable Laws to be Laws, within the period so estimated by Landlord.
Appears in 2 contracts
Samples: And Attornment Agreement (Kaleido Biosciences, Inc.), And Attornment Agreement (Kaleido Biosciences, Inc.)
Landlord’s Repair Obligation. Tenant shall give prompt notice to Landlord of any damage by fire or other casualty (a “Casualty”) to the Premises or any portion thereof. During the sixty thirty (60)-day 30)-day period following the occurrence of a Casualty (the “Notice Period”), Landlord will notify Tenant of Landlord’s estimate (the “Landlord’s Estimate”) of the period of time required to complete the restoration work. In the event that the Premises, or any part thereof, or access thereto, shall be so damaged or destroyed by fire or other insured Casualty that the Tenant shall not have reasonably convenient access to the Premises or any material portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy by the Tenant for the purposes set forth in Section 7.1, and if in the judgment of the Landlord the damage or destruction may be repaired within three hundred sixty-sixty five (365) days with available insurance proceeds, then the Landlord shall so notify the Tenant and shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, of Applicable Laws. If in the judgment of the Landlord the Premises, or means of access thereto, cannot be repaired within three two hundred sixty-five seventy (365270) days after the elapse of the Notice Period with available insurance proceeds, then either party shall have the right to terminate the term of this Lease by giving written notice of such termination to the other party within the period of thirty (30) to forty-five (45) days after the delivery occurrence of Landlord’s Estimatethe Casualty. If the reconstruction period estimated by Landlord is more than three two hundred sixty five seventy (365270) days and neither party terminates this Lease on account thereof, subject to Landlord’s receipt of sufficient insurance proceeds, Landlord shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable deliveries subject to the limitations, if any, of Applicable Laws to be the period so estimated by Landlord.
Appears in 1 contract
Landlord’s Repair Obligation. Tenant and Landlord shall give prompt notice to Landlord of any damage by fire or each promptly notify the other casualty in writing (a “CasualtyDamage Notice”) of any casualty event, damage or condition to which this Article 12 is or may be applicable. Landlord shall, within thirty (30) days after the date of Landlord’s discovery of any Casualty affecting the Premises or access to the Premises or any portion thereof. During the (except that such thirty (30) day period shall be extended to sixty (60)-day period following 60) days in the occurrence case of a Casualty (the “Notice Period”an earthquake), Landlord will notify deliver to Tenant of Landlord’s a non-binding estimate (the “Landlord’s Restoration Estimate”) of the period of time that Landlord expects will be required to complete the restoration workRestoration (defined below). In Unless this Lease is terminated in accordance with this Article 12, Landlord shall, within a reasonable time after the discovery by Landlord of any damage resulting from any casualty event that (“Casualty”), subject to reasonable delays for insurance adjustment or other matters beyond Landlord’s reasonable control, and subject to all other terms of this Article 12, begin to repair the damage to the Building Property (as defined in Section 7.2.2 above) and the Premises resulting from such Casualty and shall proceed with reasonable diligence to restore the Building Property and Premises to substantially the same condition as existed immediately before such Casualty, except for (i) modifications required by applicable Laws or covenants, conditions and restrictions, and (ii) modifications to the Building Property reasonably deemed desirable by Landlord and approved by Tenant in its reasonable discretion and which does not materially interfere with Tenant’s use and enjoyment of the Premises; provided, however, that Landlord shall not be required to repair or replace any of the Leasehold Improvements or any of Tenant’s Property which may have been placed by, or any part thereofat the request of, Tenant or access theretoother occupants in the Project or the Premises. Base Rent, and Additional Rent payable under Article 4, shall be so damaged or destroyed by fire or other insured Casualty xxxxx on a day-for-day basis relative to that Tenant shall not have reasonably convenient access to the Premises or any material portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy affected by the Tenant for Casualty from the purposes set forth in Section 7.1, and if in the judgment date of the Landlord Casualty until the damage or destruction may date the Restoration to be repaired within three hundred sixty-five (365) days with available insurance proceeds, then the Landlord shall so notify the Tenant and shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, of Applicable Laws. If in the judgment of the Landlord the Premises, or means of access thereto, cannot be repaired within three hundred sixty-five (365) days after the elapse of the Notice Period with available insurance proceeds, then either party shall have the right to terminate the term of this Lease by giving written notice of such termination to the other party within the period of forty-five (45) days after the delivery of Landlord’s Estimate. If the reconstruction period estimated performed by Landlord is more than three hundred sixty five (365) substantially complete, as determined by Landlord’s architect and neither party terminates the local governmental inspector, if applicable, and Tenant shall have been given a reasonable period of time to complete its repair and restoration of the Leasehold Improvements in the Premises. Unless this Lease on account thereofis terminated in accordance with this Article 12, subject Tenant shall, at its sole cost and expense (using contractors and subcontractors reasonably approved by Landlord) promptly and diligently restore the Leasehold Improvements in the Premises. Prior to commencing the repair of same, Tenant shall submit to Landlord, for Landlord’s receipt of sufficient insurance proceedsapproval in accordance with Article 10, Landlord shall repair above, all plans and specifications relating to such damage or destruction as provided in Section 10.4 hereof with reasonable deliveries subject to the limitations, if any, of Applicable Laws to be the period so estimated by Landlordwork.
Appears in 1 contract
Samples: Office Lease (Capitalsource Inc)
Landlord’s Repair Obligation. Tenant shall give prompt notice to Landlord of any damage by fire or other casualty (a “Casualty”) to the Premises or any portion thereof. During the sixty (60)-day 60) day period following the occurrence of a Casualty (the “Notice Period”), Landlord will notify Tenant (a “Restoration Estimate”) of Landlord’s estimate (the “Landlord’s Estimate”) of the period of time required to complete the restoration workwork based on a good faith estimate from a qualified contractor selected by Landlord. In the event that the Premises, or any part thereof, or access thereto, shall be so damaged or destroyed by fire or other insured Casualty that the Tenant shall not have reasonably convenient access to the Premises or any material portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy by the Tenant for the purposes set forth in Section 7.1, and if in if, according to the judgment of the Landlord Restoration Estimate, the damage or destruction may be repaired within three hundred sixty-five twelve (36512) days months with available insurance proceeds, then the Landlord shall so notify the Tenant and shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, of Applicable Laws. If in the judgment of the Landlord Restoration Estimate sets forth that the Premises, or means of access thereto, cannot be repaired within three hundred sixty-five twelve (36512) days months after the elapse of the Notice Period with available insurance proceeds, then either party shall have the right to terminate the term Term of this Lease by giving written notice of such termination to the other party within the period of forty-five sixty (4560) days after the delivery giving of Landlord’s the Restoration Estimate. If the reconstruction period estimated by Landlord in the Restoration Estimate is more than three hundred sixty five twelve (36512) months and neither party terminates this Lease on account thereof, subject to Landlord’s receipt of sufficient insurance proceeds, Landlord shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable deliveries subject to the limitations, if any, of Applicable Laws to be the period so estimated by Landlordand Force Majeure.
Appears in 1 contract
Samples: Everbridge, Inc.
Landlord’s Repair Obligation. Tenant shall give prompt notice to Landlord of any damage by fire or other casualty (a “Casualty”) to the Premises or any portion thereof. During the sixty thirty (60)-day 30)-day period following the occurrence of a Casualty (the “Notice Period”), Landlord will notify Tenant of Landlord’s estimate (the “Landlord’s Estimate”) of the period of time required to complete the restoration work. In the event that the Premises, or any part thereof, or access thereto, shall be so damaged or destroyed by fire or other insured Casualty that the Tenant shall not have reasonably convenient access to the Premises or any material portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy by the Tenant for the purposes set forth in Section 7.1, and if in the judgment of the Landlord the damage or destruction may be repaired within three two hundred sixty-five seventy (365270) days with available insurance proceeds, then the Landlord shall so notify the Tenant and shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, of Applicable Laws. If in the judgment of the Landlord the Premises, or means of access thereto, cannot be repaired within three two hundred sixty-five seventy (365270) days after the elapse of the Notice Period with available insurance proceeds, then either party shall have the right to terminate the term of this Lease by giving written notice of such termination to the other party within the period of thirty (30) to forty-five (45) days after the delivery occurrence of Landlord’s Estimatethe Casualty. If the reconstruction period estimated by Landlord is more than three two hundred sixty five seventy (365270) days and neither party terminates this Lease on account thereof, subject to Landlord’s receipt of sufficient insurance proceeds, Landlord shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable deliveries subject to the limitations, if any, of Applicable Laws to be the period so estimated by Landlord.
Appears in 1 contract
Samples: Lease (Forrester Research, Inc.)
Landlord’s Repair Obligation. Tenant shall give prompt notice In case of damage to Landlord of any damage by fire or other casualty (a “Casualty”) to the Premises or any portion thereof. During the sixty (60)-day period following the occurrence of a Casualty (the “Notice Period”), Landlord will notify Tenant of Landlord’s estimate (the “Landlord’s Estimate”) destruction of the period of time required to complete Property or the restoration work. In the event that the PremisesImprovements, or any part thereof, or access thereto, shall be so damaged or destroyed by fire or other insured Casualty that cause at any time during the Term of this Lease, not caused by the negligence or willful misconduct of Tenant shall not have reasonably convenient access (“Casualty”), Landlord, if and to the Premises extent insurance proceeds are available, and to an extent not exceeding twenty-five percent (25%) of the full replacement cost thereof, and Landlord’s contractor estimates in writing delivered to the parties that the damage thereto is such that the Property may be repaired, reconstructed or any material restored to substantially its condition immediately prior to such damage within one hundred twenty (120) days from the date of such Casualty, shall diligently restore the same as nearly as possible to their value, condition and character immediately prior to such damage or destruction. In case of damage to or destruction of the Improvements by fire or other cause resulting in a loss exceeding in the aggregate Ten Thousand Dollars ($10,000), Landlord shall promptly give written notice thereof to Tenant. If, however, the Property is damaged to an extent exceeding twenty-five percent (25%) of the full replacement cost thereof, or Landlord’s contractor estimates that such work of repair, reconstruction and restoration will require longer than one hundred twenty (120) days to complete from the date of Casualty, or Landlord will not receive insurance proceeds (and/or proceeds from Tenant, as applicable) sufficient to cover the costs of such repairs, reconstruction and restoration, then Landlord may elect to either: (a) repair, reconstruct and restore the portion of the Premises Property damaged by such Casualty (in which case this Lease shall thereby be otherwise rendered unfit for use continue in full force and occupancy by the Tenant for the purposes set forth in Section 7.1, and if in the judgment effect; or (b) terminate this Lease effective as of the Landlord the damage or destruction may be repaired within three hundred sixty-five date which is thirty (36530) days with available insurance proceedsafter Xxxxxx’s receipt of Landlord’s election to so terminate. Under any of the conditions of this Section 16.1, then the Landlord shall so notify give written notice to Tenant of its intention to repair or terminate within the Tenant and shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, later of Applicable Laws. If in the judgment of the Landlord the Premises, or means of access thereto, cannot be repaired within three hundred sixty-five sixty (36560) days after the elapse of the Notice Period with available insurance proceeds, then either party shall have the right to terminate the term of this Lease by giving written notice occurrence of such termination to the other party within the period of forty-five Casualty, or fifteen (4515) days after the delivery of Landlord’s Estimate. If the reconstruction period estimated by Landlord is more than three hundred sixty five (365) and neither party terminates this Lease on account thereof, subject to LandlordXxxxxxxx’s receipt of sufficient insurance proceedsthe estimate from Landlord’s contractor or, as applicable, thirty (30) days after Landlord shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable deliveries subject receives approval from Xxxxxxxx’s Mortgagee to the limitations, if any, of Applicable Laws to be the period so estimated by Landlordrebuild.
Appears in 1 contract
Samples: Lease Agreement
Landlord’s Repair Obligation. Tenant shall give prompt notice to Landlord of any damage by fire or other casualty (a “"Casualty”") to the Premises or any portion thereof. During the sixty thirty (60)-day 30)-day period following the occurrence of a Casualty (the “"Notice Period”"), Landlord will notify Tenant of Landlord’s 's estimate (the “Landlord’s Estimate”) of the period of time required to complete the restoration work. In the event that the Premises, or any part thereof, or access thereto, shall be so damaged or destroyed by fire or other insured Casualty that the Tenant shall not have reasonably convenient access to the Premises or any material portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy by the Tenant for the purposes set forth in Section 7.1, and if in the judgment of the Landlord the damage or destruction may be repaired within three five hundred sixty-five forty (365540) days with available insurance proceeds, then the Landlord shall so notify the Tenant and shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable diligence, subject to the limitations, if any, of Applicable Laws. If in the judgment of the Landlord the Premises, or means of access thereto, cannot be repaired within three five hundred sixty-five forty (365540) days after the elapse of the Notice Period with available insurance proceeds, then either party shall have the right to terminate the term of this Lease by giving written notice of such termination to the other party within the period of forty-five thirty (4530) days after the delivery occurrence of Landlord’s Estimatethe Casualty. If the reconstruction period estimated by Landlord is more than three five hundred sixty five forty (365540) days and neither party terminates this Lease on account thereof, subject to Landlord’s receipt of sufficient insurance proceeds, Landlord shall repair such damage or destruction as provided in Section 10.4 hereof with reasonable deliveries subject to the limitations, if any, of Applicable Laws to be the period so estimated by Landlord.
Appears in 1 contract
Samples: Lease (Radius Health, Inc.)