Common use of Landlord’s Repair Obligation Clause in Contracts

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 Agreement (Codiak BioSciences, Inc.), Lease Agreement (Codiak BioSciences, Inc.), Lease Agreement (Codiak BioSciences, Inc.)

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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 (a) If the Premises or the Building or any damage portion thereof (whether or not the Premises are affected) are damaged 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 shall repair the same (including Non-Severable Material Alterations but not including any Tenant’s Property or other Alterations); provided that (i) such repairs can be made under the laws and regulations of the federal, state and local governmental authorities having jurisdiction within twelve (12) months (plus any incremental time as may be required to restore any Non-Severable Material Alterations) after the date of such damage (or in the case of damage occurring during the last twelve (12) months of the Term, provided that such repairs can be made within ninety (90) days (plus any incremental time as may be required to restore any Non-Severable Material Alterations) after the date of such damage), (ii) such repairs are fully covered (except for any deductible) by the proceeds of insurance maintained by Landlord or Tenant of Landlord’s estimate and (iii) the “Landlord’s Estimate”damage does not affect more than fifty percent (50%) of the period assessed value of time the Building. The repairs to be made by Landlord under this Article shall not include, and Landlord shall not be required to complete repair, any Casualty damage to Tenant’s Property or any Alterations (other than Non-Severable Material Alterations). (b) If all or any part of the restoration work. In Premises shall be rendered Untenantable by reason of a Casualty, the event Base Rent and the Additional Rent shall be abated in the proportion that the Untenantable area of the Premises bears to the total area of the Premises, for the period from the date of the Casualty to the earlier of (i) the date the Premises is no longer Untenantable (provided that, if the Premises would no longer have been Untenantable at an earlier date but for Tenant having failed diligently to prosecute repairs or restoration required of Tenant under this Lease, then the Premises shall be deemed to no longer be Untenantable on such earlier date and the abatement shall cease) or (ii) the date Tenant 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 subtenant reoccupies any material Untenantable portion of the Premises shall thereby be otherwise rendered unfit for use and occupancy by the Tenant for the purposes ordinary conduct of business (in which case the Base Rent and the Additional Rent allocable to such reoccupied portion shall be payable by Tenant from the date of such occupancy). Pending resolution of any dispute with respect to the period or amount of such abatement, Tenant shall pay Rent in accordance with Landlord’s determination. Notwithstanding the foregoing, if by reason of any act or omission by Tenant, any subtenant or any of their respective partners, directors, officers, servants, employees, agents or contractors, Landlord or any Leasehold Mortgagee shall be unable to collect all of the insurance proceeds (including, without limitation, rent insurance proceeds) applicable to the Casualty, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Rent. (c) Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage by Casualty or the repair thereof. Landlord shall not be obligated to carry insurance of any kind on Tenant’s Property or any Alterations or any other improvements made at Tenant’s sole cost and expense (other than Non-Severable Material Alterations), and Landlord shall not be obligated to repair any damage thereto or replace the same, other than as specifically 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 Landlord19.2.

Appears in 2 contracts

Samples: Lease Agreement (Silicon Graphics Inc), Lease Agreement (Silicon Graphics 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: Lease (Kaleido Biosciences, Inc.), Lease (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

Samples: Lease (Datawatch Corp)

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 Agreement (Forrester Research, Inc.)

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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 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.)

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: Lease (Everbridge, Inc.)

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